Global Financial Crisis scenarios - page 16.

tee-rex

hero member

Activity: 742

Merit: 526

Quote from: binks1 on June 17, 2014, 09:35:33 PM

Hi,

I have a question, but please direct me to a post if already asked:

In case of another GFC, would BTC bitcoin price:

a) stays on the same level Cool

b) skyrockets Grin

c) tumble down Cry

?

If the crisis will be constrained to finances only, then the answer is pretty obvious. Bitcoin will evidently skyrocket as it already did after the deposits had been expropriated in Cyprus a year ago. Now imagine the same situation on a worldwide scale and you guess the answer.

DavidHume

full member

Activity: 235

Merit: 102

Hard to say which way bitcoin will go.

Remember, during the last crisis, even gold and oil went down quite a bit.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: sgk on June 18, 2014, 08:03:50 AM

Quote from: binks1 on June 17, 2014, 09:35:33 PM

Hi,

I have a question, but please direct me to a post if already asked:

In case of another GFC, would BTC bitcoin price:

a) stays on the same level Cool

b) skyrockets Grin

c) tumble down Cry

Take your pick:

That image nearly sums it up.

Assuming that the USD flops, the value of crypto would increase dramatically, and those who sell mining hardware of any kind (Sheep will buy the ASICs up like mad) will make a massive profit as well. Even companies such as Nvidia and ATI and AMD will earn tons, due to the amount of GPUs people will be buying for coins like Dark.

So in short, if the USD flops toward the flor, cryptos will become the new way of life, almost no contest. It'd be brought down to two things:
1. If power is still runnning
2. If there is a mentality that only "physical" things have value

If you can tell me exactly yes or no to those two questions, then I can tell you if cryptos will increase in value or not.

sgk

legendary

Activity: 1470

Merit: 1002

!! HODL !!

Quote from: binks1 on June 17, 2014, 09:35:33 PM

Hi,

I have a question, but please direct me to a post if already asked:

In case of another GFC, would BTC bitcoin price:

a) stays on the same level Cool

b) skyrockets Grin

c) tumble down Cry

Take your pick:

ljudotina

legendary

Activity: 1260

Merit: 1029

As far as i understand it, BTC would skyrocket, as ppl would run away from fiat into something that doesnt loose value because of crazy limitless printing. Some would run to gold, some to silver, some to other limited things, and some would run to BTC. Once they get in, price goes up, as price goes up, others see it too. Attracted like flies to a flame, they run into BTC, price goes up even more...you get where i'm aiming at...

ganabb

sr. member

Activity: 434

Merit: 250

If you had $1000 in the bank, and they may print a bunch of new money in a few years that $1000 will be worth about $600 today. Bitcointalk would skyrockets soon.

binks1

newbie

Activity: 18

Merit: 0

Hi,

I have a question, but please direct me to a post if already asked:

In case of another GFC, would BTC bitcoin price:

a) stays on the same level Cool

b) skyrockets Grin

c) tumble down Cry

?

Topic: Global Financial Crisis scenarios - page 16. (Read 15948 times)