How Bitcoin Can play its role to overcome the Financial Crises

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Quote from: GbitG on September 30, 2023, 04:08:49 AM

Quote from: tbct_mt2 on September 27, 2023, 10:38:50 AM

Quote from: snowpega on September 27, 2023, 09:10:21 AM

How Bitcoin Can play its role to overcome the Financial Crises

Bitcoin can help you individually but it can not help a nation to overcome a big financial crisis or a global economic recession.

It is true that Bitcoin can have an impact on an individual's financial situation, but at the national level, it cannot provide a complete solution to global financial crises. However, in my opinion, if we look at a nation's financial economy crisis from a perspective where people are actively using Bitcoin to improve their individual financial status, it can help. This can allow them to monitor their taxes and regulations more easily and contribute somewhat to relieving their country's financial crisis.

So, why can't Bitcoin be used to obtain relief from a financial crisis? Please tell me if a nation's fundamental aspect, its people, work on improving their financial status from a financial point of view, why wouldn't it help alleviate the country's financial crisis? It may not be an immediate solution, but over time, it can gradually become a lifeline to protect against financial crises.

That's right, when people's lives improve, the country's economic situation will improve and develop. But I want to ask you, what is the guarantee and certainty that when everyone invests in bitcoin, everyone will be able to improve their finances? Bitcoin is an investment and it has improved and changed the lives of many but not all. There are also many people who go bankrupt and lose money when investing in bitcoin incorrectly. Bitcoin is a financial market, which means there will be winners and losers, it is impossible for everyone to win-win. Who spends money to push up the price of bitcoin for everyone to sell?
Do you see any country with a strong economy or becoming a great power thanks to financial investment?

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Quote from: tbct_mt2 on September 27, 2023, 10:38:50 AM

Quote from: snowpega on September 27, 2023, 09:10:21 AM

How Bitcoin Can play its role to overcome the Financial Crises

Bitcoin can help you individually but it can not help a nation to overcome a big financial crisis or a global economic recession.

It is true that Bitcoin can have an impact on an individual's financial situation, but at the national level, it cannot provide a complete solution to global financial crises. However, in my opinion, if we look at a nation's financial economy crisis from a perspective where people are actively using Bitcoin to improve their individual financial status, it can help. This can allow them to monitor their taxes and regulations more easily and contribute somewhat to relieving their country's financial crisis.

So, why can't Bitcoin be used to obtain relief from a financial crisis? Please tell me if a nation's fundamental aspect, its people, work on improving their financial status from a financial point of view, why wouldn't it help alleviate the country's financial crisis? It may not be an immediate solution, but over time, it can gradually become a lifeline to protect against financial crises.

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So anyway, I applied as a merit source :)

Quote from: snowpega on September 29, 2023, 10:42:46 AM

We should emphsize its adoption to those people who have no knowledge about it. it can be very beneficial for them for long and short period of time.

Emphasize how? You try to explain a cyberpunk currency to someone works their ass off on a farm trying to pay of bills and you get a tight slap on your face from their muddy hands and some swearing. You are free to become the tinfoil hat person of your community but after a while you will get ashamed and stop doing it.

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Short in sense, if they will train themselves for trading i know its a risky part...i'm suggesting to have well training and make themselves to understand the market sentiments after that they can come into trading field as well.

Try that and you will called out as a scammer and get beaten up by a mob.

Your approach is wrong here. You bring the product to someone who wants it not someone who does not care. If they show interest in bitcoin only then show it to them. Dont force-feed a naive person about something that is already mysterious and difficult to comprehend. Because once they lose money, maybe due to their own stupidity, they would not stop blaming you and then its on you to save your tail.

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Quote from: Dunamisx on September 28, 2023, 04:18:54 AM

Much about bitcoin had already been done, it's our own role left for us to take every opportunity we see through this digital currency to have the best results and profitability through it adoption, how we engage the use of bitcoin in our daily activities also will determine the benefits it will serve us, if we are using bitcoin most in our financial economy, it will help us to evade the negative consequences of economic inflation towards our financial assets whereby it value decreases with fiat while bitcoin will help retain and maintain the economical value of our money when we invested.

Buddy your words are too Good i do agree with you like you are emphasizing the adoption of BTC right? Like most of people are making excuses it can't make it rule to overcome crises. let's say, if each person starting adding up their knowledge in their mind and build their skill it can help to overcome their crises. Adoption of BTC can give good value to its price for those people who are doing its accumulation of it for the long period of time as an digital asset. What does matter here? We should emphsize its adoption to those people who have no knowledge about it. it can be very beneficial for them for long and short period of time.

Short in sense, if they will train themselves for trading i know its a risky part...i'm suggesting to have well training and make themselves to understand the market sentiments after that they can come into trading field as well.

As you aforementioned that it upto us how we adopt it to have advantages of it and to get through our crises. it is also too good point. literally got impressed.

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Quote from: pooya87 on September 28, 2023, 02:12:38 AM

In a financial crisis you'll face higher prices (inflation) while your income isn't rising or you get fired (recession) as we've seen over the past year specially in Europe.

Or income can be raised but the rate is not good enough to catch up inflation rate in the nation or local area. I remember months ago, on media there was a hype news that an influencer told that Bitcoin will reach $1M in next 30 or 90 days.

Honestly I felt the world economic must be on the verge of collapse to help Bitcoin rising to $1M within a couple of months from $30,000 like that, it's unrealistic and I don't want to see Bitcoin at that price in such nightmare situation.

Bitcoin At $1 Million In 90 Days And Dollar Destroyed—Huge Crypto Price Prediction Bet Fueled By Bank Crisis And Hyperinflation

I am not disappointed because Bitcoin was not hit $1M after that call but frankly I am happy that it did not happen.

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You're talking about poor people and how BTC can help them, take note that BTC is also a currency, so if they were poor and couldn't get fiat for themselves, why do you think they will be able to earn BTC's. There are too many threads talking about what BTC cannot do, it would be great if more users started threads on useful things about BTC and on things that can actually be influenced by BTC.

BTC is not going to save you in a financial crisis, and your advise to people who are poor should be for them to find a way to better their lives and earn more money, they could get more jobs or learn new skills, people who are poor and struggling don't think about BTC, but for what to eat and how to pay their bills or pay off debts.

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Quote from: snowpega on September 27, 2023, 09:10:21 AM

Conclusion:

Bitcoin is becoming one of the safest and important technique during financial crises in this modern era. It is helping to provide stability, honesty, and financial freedom to people funds where no other one has any access to their assets, even though Bitcoin also has some challenges like price fluctuation. So, it is obvious that Bitcoin is changing and getting most adoptable day by day like how we deal with financial crises in this time.
As we know how uncertain financial times around the world happening, we need to pay attention like how Bitcoin can help us to overcome in the financial crises and tough time. It's not all about making it a trend somehow, it's a big rotate that we all need to think about and adapt to by giving it time and having knowledge, spreading knowledge about it.

Don't forget that it was also made during the financial crisis on 2008. And like what has happened these past few years, we've been experiencing crisis left and right and not just financial crisis but a global trend.

Quote from: snowpega on September 27, 2023, 09:10:21 AM

So, what we need to do? We have to give our time to this field to overcome our financial crises. The key is that how much we give our time to this field we learn that much about it.

And not just time but the money that we're investing on it, it could be from our savings or from other assets, investments and businesses that we have.

Quote from: fuguebtc on September 28, 2023, 02:58:25 AM

Bitcoin is a volatile investment, and whether you can profit from it to get you through a crisis or make you worse off depends on your knowledge and skills. Bitcoin does not guarantee you anything, you are responsible for your life.

This is true, it just so happen that those who believed Bitcoin and took risk out of their pockets can be said to be knowledgeable investors. Because they/we know something that others don't and that's why we're moving forward on it and still holds no matter what bad news comes out.

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Much about bitcoin had already been done, it's our own role left for us to take every opportunity we see through this digital currency to have the best results and profitability through it adoption, how we engage the use of bitcoin in our daily activities also will determine the benefits it will serve us, if we are using bitcoin most in our financial economy, it will help us to evade the negative consequences of economic inflation towards our financial assets whereby it value decreases with fiat while bitcoin will help retain and maintain the economical value of our money when we invested.

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I completely agree with the characteristics you mentioned about bitcoin. But frankly, how will bitcoin help the world overcome the crisis while it itself is still being negatively affected by the crisis? Do you remember times of high inflation, high interest rates or any huge bad news from war also made bitcoin volatile? Bitcoin is even affected by news and events of the world economy, how can it be said that it will take on the role of overcoming the crisis?

Bitcoin is a volatile investment, and whether you can profit from it to get you through a crisis or make you worse off depends on your knowledge and skills. Bitcoin does not guarantee you anything, you are responsible for your life.

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In a financial crisis you'll face higher prices (inflation) while your income isn't rising or you get fired (recession) as we've seen over the past year specially in Europe. Bitcoin can not really help either of these specially since bitcoin price itself is quite volatile and has been affected by the recession itself.
The only thing that bitcoin may help with is to provide you with some extra income, whether you are trading bitcoin or doing additional jobs to get paid in it. But the trading part is risky and the jobs are mostly low paying.

The rest of the things you said about Bitcoin are characteristics of it that are good on their own but they aren't really helping people during the financial crisis.

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Quote from: davis196 on September 28, 2023, 01:42:31 AM

OP, you are repeating things that were repeated over and over again in the forum for the last 10 years.
....
Are you completely sure that Bitcoin won't get hit by a big financial crisis, just like all the other financial assets? Do you really think that the Bitcoin price could grow, when the prices of all other assets and commodities are falling down?
I can't deny that BTC is really useful, but I don't think that Bitcoin is a panacea to all financial problems and all "financial crises".
...

This is the point I have been making lately. Bitcoin's history is very short and it was born when the 2008 crisis began to recover, with 0 rates. It has not experienced a major crisis since then and in those that have occurred, such as the COVID and inflation with rising rates, it has reacted poorly. So, I am not so sure that if we get into a crisis like 2008 or the crash of 29, Bitcoin will go up while everything else goes down. What I do believe is that if, as a consequence of the crisis, rates are lowered, when the Bitcoin starts to recover, it will probably be the asset that will rise the strongest.

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I think bitcoin is only for managing personal finances but not recommended for the country
But it cannot be denied that with Bitcoin, sending money across countries is easier
and let me emphasize a little that crisis is just a word

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OP, you are repeating things that were repeated over and over again in the forum for the last 10 years.
Bitcoin is decentralized and borderless. Well, good morning Captain Obvious! Grin

Would you mind trying to add something new to the discussion?
Are you completely sure that Bitcoin won't get hit by a big financial crisis, just like all the other financial assets? Do you really think that the Bitcoin price could grow, when the prices of all other assets and commodities are falling down?
I can't deny that BTC is really useful, but I don't think that Bitcoin is a panacea to all financial problems and all "financial crises".
Is "crises" even a word? Grin

AimHigh

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In my opinion that bitcoin seen as a potential hedge against traditional financial crisis just like decentralization that bitcoin operates the network decentralization, it means it's not controlled by single entity. This can be provide a level of financial autonomy and security during times of economic when traditional financial systems may be unstable.

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In my opinion firstly, as BTC is gradually being accepted as an asset class, more and more institutional money is coming into the sector and having long futures positions is one way to do that. Secondly asset market price changes are inevitable in a bubble as expectations regarding the outlook change and many will look to sell bitcoin at breakeven and once this resistance is broken.

In short, if we trade, then we are ready to take profits or losses, but if we hold on and be patient until the time limit Bitcoin can play its role in overcoming your financial crisis by itself.

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Quote from: snowpega on September 27, 2023, 02:42:02 PM

I do agree with you buddy, what if i say diversification of portfolio can help a lot like if most of the people starts doing multi-investment and run multi-business at the same time to increase their portfolio. It can help alot to overcome the financial crises and notional level crises as well because each person will be giving his best at the end of the day to overcome their own crises.

Diversifying is a basic rule but does it work for you, help you to grow your portfolio value or does it kill you, it depends on what you choose to diversify your portfolio. If you diversify your capital into altcoins which have different categories with different risk levels, you are making bad choice.

Altcoins can have big growths but are you sure what you pick for diversification will help you get profit or it will die like thousand of altcoins in history. If projects you invest in die, your portfolio diversification is bad.

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if i'm not wrong i can give example of Elon musk like he is running mutli-compines to diversify his portfolio. if we look at his starting point like from where he started his journey. He started from some but not really some and know he is the richest person of the world. Because he started diversification of his portfolio to run multi-business at the same time.

I don't think he does it to diversify his wealth. He works like a workaholic man and want to achieve big things for his ambitious targets. He is rich but I think at his level, he minds more about what he can contribute to the world, human civilization rather than trying to get richer.

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Yes, I am also of the opinion that Bitcoin would be very helpful at the individual level, but at the country level I do not think this is possible at the present time. We have the example of El Salvador and the Central African Republic, where Bitcoin did not help improve the economy after its official adoption.

Bitcoin is very helpful for people in getting rid of their financial crises and transferring money across borders easily because of its decentralization and unique features, but this is the same reason that makes it rejected by governments. Governments never want to make money available in a decentralized way so that it can be obtained easily and can be transferred across borders easily. simply... They want everything under their control so Bitcoin is not useful to them.

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Quote from: kryptqnick on September 27, 2023, 10:28:30 AM

Since the creation of Bitcoin, there hasn't technically been a global economic crisis, so it's still unknown how it would perform. It did bounce back pretty fast after the pandemic announcement and the initial major drop, and it's sometimes actively used in countries suffering from particularly high inflation, but that's not enough. The main points about the features of Bitcoin and how they can be useful are true, but how people actually behave in an economic crisis can be very different, as people aren't actually always rational beings who assess all the pros and cons before making decisions that best serve their interests.

It is true that bitcoin has not been tested as thoroughly as what is needed so we can confidently say it will do well during a worldwide economic crisis, but I think it gave good enough signals during the crisis caused by the pandemic, so even if I think the price of bitcoin could suffer greatly if the dollar began to show signs of weakness, at the same time eventually people would realize that what they need the most under that scenario is a currency that allows them to avoid the upcoming fallout, and bitcoin will be a good candidate to do this.

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Quote from: snowpega on September 27, 2023, 09:10:21 AM

How Bitcoin Can play its role to overcome the Financial Crises

Conclusion:

Bitcoin is becoming one of the safest and important technique during financial crises in this modern era. It is helping to provide stability, honesty, and financial freedom to people funds where no other one has any access to their assets, even though Bitcoin also has some challenges like price fluctuation. So, it is obvious that Bitcoin is changing and getting most adoptable day by day like how we deal with financial crises in this time.
As we know how uncertain financial times around the world happening, we need to pay attention like how Bitcoin can help us to overcome in the financial crises and tough time. It's not all about making it a trend somehow, it's a big rotate that we all need to think about and adapt to by giving it time and having knowledge, spreading knowledge about it. So, what we need to do? We have to give our time to this field to overcome our financial crises. The key is that how much we give our time to this field we learn that much about it.

Actually on of the main features of btc is that the overall amount is limited. It makes btc eesistant to inflation. However, this feature can save btc value only if the inflation is caused by excess money printing, while other causes which lead to excess amount of money in the financial system are present in cryptocurrencies too. First of all, it's the control of money value by tycoons and global banks: they can launch and stop inflation without printing money, just by releasing some little parts of their assets. If the overall fintech system moves to limited amount of money, this type of inflation will remain possible.

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Quote from: tbct_mt2 on September 27, 2023, 10:38:50 AM

Bitcoin can help you individually but it can not help a nation to overcome a big financial crisis or a global economic recession.

At a personal scale, it is easy to improve your financial status but at a national scale, it's harder and you can not make big changes with only one factor like Bitcoin. A nation has many components to make up its economy, society and a lot of other components which all interact with each other. Bitcoin can not change all of those components and can not improve a whole nation economy and finance as the only decisive component.

To change, a nation need more than Bitcoin and if it has only Bitcoin, it is an impossible mission for Bitcoin to change that nation.

I do agree with you buddy, what if i say diversification of portfolio can help a lot like if most of the people starts doing multi-investment and run multi-business at the same time to increase their portfolio. It can help alot to overcome the financial crises and notional level crises as well because each person will be giving his best at the end of the day to overcome their own crises.

if i'm not wrong i can give example of Elon musk like he is running mutli-compines to diversify his portfolio. if we look at his starting point like from where he started his journey. He started from some but not really some and know he is the richest person of the world. Because he started diversification of his portfolio to run multi-business at the same time.

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