What was the bitcoin price doing when there were problems in cyprus?
Bitcoin is not liquidity yet and if people lost a lot of money and needed some liquidity, bitcoin wouldnt be the chance for most of them currently, becuase " i need fu*kign cash" i dont have the time to figure out how this bitcoin thing works" etc. Also "nobody" accepts bitcoin today, not in a manner that would cover all the needs of the common "folk", so they would go for a cash (fiat cash).
But yeah as i said, when i have read the text after the posting i think that any major economic problem would be a boost for bitcoin price, since more people would be getting into bitcoin (and gold forexample) than getting out...
what do you think, what was the bitcoin price like when there were problems in cyprus?
Topic: Financial system of States collapses - effect on bitcoin? (Read 748 times)
Economy is getting worser due to current banking system. Bitcoin when widely used can help those suffering from banks. I think there is negative coralation between them.
The desirable outcome is that bitcoin is liquidity.
How curious that you missed that possibility.
How curious that you missed that possibility.
Hi, there are some problems with the dollar and also euro and also other currencies and there also a "conspiracy theory" that todays financial system is not sustainable and "will" collapse in the few upcomming years. The dollar will fall, the euro will fall etc...
I would like to discuss what would be the effect on the bitcoin price... Lets begging small for example and say that euro will "fail" or there will be some banking issues in the eurozone (the us will be still Ok) how it will affact bitcoins price? There might be 2 situation i think,
1) The people will be worried about the currency/banking etc. situation in their country and will try to preserve the money that remained (after bank bailing for example, taxes i dont know what). These people would buy some hard assets for example gold etc. with there remaining money. One "commodity" in which they would invest would be also bitcoin probably (if the gov. doesnt ban bitcoin at that moment :-) ). So the price should rise.
2) The people will need "liquidity" (money with which they can buy, pay bills etc.) and due to their losses in bankign system, or wealth confiscation, or bailin etc. they will lose part of their money and the will quickly need some liquid money to pay the bills for example, buy groceries etc., so they would "sacrifice" any investments that they had and havent been ruined by the situation (their house for example, gold etc.), they will simply need "cash" (because their bank account is frozen for example). And one thing that they would sell is bitcoin, so there would be a surplus on the supply side of bitcoin and the price would drop...
which situation is more likely according to you. When i read this post after writting it, i think the first possibility is more probable, because i dont think a lot of people owns bitcoin so far, there might be few that own it and will need cash so they will sell it, but there should be more people demanding bitcoin as a "wealth preservation asset"... So if there will be any economic problems in the world, bitcoin should profit from it, the price should rise, am i right or am i missing something? What was the bitcoin price doing when there were problems in Cypruss?
I would like to discuss what would be the effect on the bitcoin price... Lets begging small for example and say that euro will "fail" or there will be some banking issues in the eurozone (the us will be still Ok) how it will affact bitcoins price? There might be 2 situation i think,
1) The people will be worried about the currency/banking etc. situation in their country and will try to preserve the money that remained (after bank bailing for example, taxes i dont know what). These people would buy some hard assets for example gold etc. with there remaining money. One "commodity" in which they would invest would be also bitcoin probably (if the gov. doesnt ban bitcoin at that moment :-) ). So the price should rise.
2) The people will need "liquidity" (money with which they can buy, pay bills etc.) and due to their losses in bankign system, or wealth confiscation, or bailin etc. they will lose part of their money and the will quickly need some liquid money to pay the bills for example, buy groceries etc., so they would "sacrifice" any investments that they had and havent been ruined by the situation (their house for example, gold etc.), they will simply need "cash" (because their bank account is frozen for example). And one thing that they would sell is bitcoin, so there would be a surplus on the supply side of bitcoin and the price would drop...
which situation is more likely according to you. When i read this post after writting it, i think the first possibility is more probable, because i dont think a lot of people owns bitcoin so far, there might be few that own it and will need cash so they will sell it, but there should be more people demanding bitcoin as a "wealth preservation asset"... So if there will be any economic problems in the world, bitcoin should profit from it, the price should rise, am i right or am i missing something? What was the bitcoin price doing when there were problems in Cypruss?
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