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Topic: Global Economic Crisis's and CryptoCurrency (Read 301 times)

hero member
Activity: 980
Merit: 500
October 21, 2018, 03:10:59 PM
#27
In defense of bitcoin you do not have to beat down fiat currencies or bundle up all governments Into an evil bunch.

In the event if a financial crisis I believe both fiat and cryptocurrencies would be hit, one could thrive on the downfall of the other though.
In some situations cryptocurrency leads global economy into a new level and in some situations cryptocurrency are bad for world economy. In many countries because of heavy use of cryptocurrency methods of transactions their is downfall show on the profits and progress of their nation banks and this thing negatively affects their country economy. Cryptocurrency also affects their country national currency value. And they are tax free currency and these thing also put negative affect on world economy. But in some countries it work with their government to solve their unemployment issues and in many poor developing countries it work only as a money transaction medium. So these thing put positive affects on world economy.
newbie
Activity: 14
Merit: 0
Cryptos that have a good technology are certainly here to stay. They will survive if a crisis hits the world.
newbie
Activity: 14
Merit: 0
There is no denying of the economic downturns with all the new global reforms. Cryptocurrency can bring a drastic change in this scenario.
newbie
Activity: 14
Merit: 0
Cryptocurrency surely can make a difference in this kind of situation. And the way reformation of economy and governments are happening globally a crisis may happen.
newbie
Activity: 14
Merit: 0
There is no denying of the economic downturns with all the new global reforms. Cryptocurrency can bring a drastic change in this scenario.
newbie
Activity: 33
Merit: 0


1. Even if a global economic crisis happens, it will be 'national government currencies' which might go to zero. Why? Because governments are being servants to World Bank economics and are NOT issuing debt-free currencies of their own.

2. In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics. Even national cryptocurrencies might go to zero since they will be forced to peg it to their fiat currency which is already endangered to go lower and lower in value.

3. The only cryptocurrency with strong technology, use-cases and an influential team with both technical and business experts will be able to survive the economic downfall.

4. One must NOT get saddened by the fact that one is indirectly destroying or 'shorting' national economics/ the national currency (I don't know if I'm putting the right terms here) by getting involved in cryptocurrency, as it is the duty of the national government in these times to issue commodity backed debt-free currency in the first place whether it be fiat or crypto.

5. A true revolution cannot happen if the leader or the followers hide their true identities.

6. Those who come and call cryptocurrency 'sinful' and against religion, please tell me what you were doing all of this time when the value of your fiat currency kept on dropping year after year and the debt on nations kept on increasing? you will not speak a word against fractional reserve banking but use all your energy to call crypto a Ponzi scheme because you are envious of people making tons of money in it. If you want to be so 'religious', then come to me and I'll tell you that whatever means of earning money you use is also irreligious.. unless you are a farmer owning your own land and growing your own food, drink, clothing/ or a manual labourer without touching fiat money. I will prove it to you if you want to be so pessimistic and religious.

7. If you are of the opinion that the government 'care' about you.. no matter which country you are.. you are mistaken. Most of them do not give a damn about the welfare of their citizens but are busy devising strategies to get more money, expand business and defend their political position. Even few governments who might care for their citizens have no knowledge on how to truly run a nation as they do not follow the scriptures and hence most of their efforts will only create more problems. This is why you should STOP discussing politics as it only wastes your time and energy.

8. Those who want to go back to the physical barter system, it is NOT possible because the 'elite' have taken away most of the land, gold and murdered a large % of the bovine race.
Cryptocurrency and fiat money will serve people for a long time. And one and the other currency has a number of pros and cons, so you need to understand. ...
jr. member
Activity: 84
Merit: 1
I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.



Isn't this already DGD?
newbie
Activity: 25
Merit: 0
The value of crypto still doesn't play any vital role in global economy. And still, crypto hadn't become that reliable to replace the fiat coins. So the crypto can't be made a main currency so quickly.
legendary
Activity: 3038
Merit: 1169
That's is a way the bank and government thinks, don't ever lump the economical crisis of a country with bitcoin because it doesn't really goes like that, We can say that the inflation is due to the droping value of fiat currency, and it will always goes that way it is just the way the economic system works and cryptocurrency has nothing to do about it.
legendary
Activity: 1638
Merit: 1163
Where is my ring of blades...
I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

So something like Tether just with gold instead of USD?

I think there already are altcoins that claim they are backed by these things. but that doesn't matter. similar to Tether they will be centralized and at some point their integrity will be questioned. not to mention that you can never keep their value stable as you can see with USDT, it is susceptible to drops and drops have the risk of crashing it to the ground. imagine if Tether dropped drastically instead of this current small drop, the panic dump of it would bring it down to 0.
newbie
Activity: 24
Merit: 0
Fiat is still more convenient and cheaper to use. The goal is censorship resistance,to be a sovereign store of value. In this kind of scenario cryptos would strive,that simple.
newbie
Activity: 28
Merit: 0
Today's economic structure, economic crisis has become common. Crisis just means a way of resolving economic congestion or something similar along the lines. So today's problems can't be connected with cryptocurrency. I don't think cryptocurrency can solve todays economic problems not the way it wants to be solved at least. And Bitcoin's aim as far I can tell is not aiming to "kill" fiat currencies. Fiat is still convenient and cost effective. But this sort of discussion could change in the future and how the economy changes.
legendary
Activity: 3472
Merit: 10611
economical crisis is not the same as economical annihilation. so you are wrong in thinking if an economical crisis happens some "national government currencies" can go to zero because as long as the country is on the map they will have a national currency that will worth something even if its value drops.

and none of this has anything to do with bitcoin or cryptocurrencies and their values. we may only see a price surge in bitcoin in short term as some FOMO buyers start buying bitcoin but i wouldn't expect much else.
newbie
Activity: 29
Merit: 0
Economic crisis is a part of the financial system. If a crisis comes both crypto and fiat currency would get a damage. Lets just hope we would never see such a day where both crypto and fiat price fall to zero.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
Quote
In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics.

But we get the opposite, during multiple economic crisis Bitcoin was going higher day by day. For example during Greece crisis. Aslo there is no link between a currency and a cryptocurrency

The likes of Venezuela and Greece is a fine example that bitcoin isn't affected by any domestic economic problems but it can affect these countries, especially its citizens who carry the burden of these problems. IMO, bitcoin would experience a surge in interest if a financial crisis is to happen again; people might see it as a great hedge or to just keep their assets intact in the midst of a financial storm. We are yet to see whether this will hold true, but the likelihood of people converting to bitcoin or gold during these events is high.
newbie
Activity: 4
Merit: 0
I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.



So something like Tether just with gold instead of USD?
legendary
Activity: 3724
Merit: 3063
Leave no FUD unchallenged
I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

The idea of cryptocurrency is that it's trustless, but as soon as you introduce a commodity, you're back to trusting someone to hold that commodity securely.  All you really have is an IOU and a hope that it means you can actually redeem your tokens for physical gold.  In which case, why not just hold the gold if that's what you really want?

Also, it's normally the governments of the world who are holding most of the gold, so how would a cryptocurrency bring the government down if it's backed by the same gold the government itself is holding?
jr. member
Activity: 31
Merit: 1
True.  Crypto coins are a way for new technologies to be introduced and to raise money for development.  Right now though, Bitcoin seems mainly to be either a driving force or a fly in the ointment with which governments must contend, mostly on a regulatory basis.
sr. member
Activity: 1330
Merit: 291
October 18, 2018, 04:42:44 PM
#9

5. A true revolution cannot happen if the leader or the followers hide their true identities.

Point of correction, it depends on the type of revolution that's at work at that moment. Bitcoin operating on a decentralize Blockchain technology along with other cryptocurrencies is a welcome revolution for a transparent world. 
sr. member
Activity: 343
Merit: 250
October 18, 2018, 04:25:57 PM
#8
I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

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