Topic: Global Economic Crisis's and CryptoCurrency - page 2. (Read 301 times)

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

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.

A well decentralized Cryptocurencies (like Bitcoin, maybe?) won't go to zero during such crisis. A Cryptocurencies has to be well decentralized in most aspects such as in node and currency distribution..
*If the coin is concentrated in few hands, of course it will collapse during a crisis.
*If nodes are concentrated in fee areas, a regional disaster may wipe its coin off the face of the earth.

In today's economic structure, crises are common. Crises are actually a means of resolving economic congestions. So today's economic troubles do not have a connection with crypto money. And crypto coins cannot solve today's economic problems.

You just state some things but dont provide basis for them, why most crypto currencies will go to 0 ?
Just because there is little value now, doe snot mean that it would go to zero.

In this kind of scenario cryptos would strive, that simple.

OP, what is the point of your post? Bitcoin's aim is not to "kill" fiat currencies. Fiat is still more convenient, and cheaper to use.

The goal is censorship resistance, to be a sovereign store of value, to give users the ability to send "money" without intermediaries.

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.