Topic: How would a real economy crash affect btc price? (Read 763 times)
Maybe what will happen is the price of btc will go down because if the war happens everyone is pressed and needs money, for the easiest way to sell their bitcoin if they are pressed.
Actually, bitcoins depend on the market as well. If the market crashes, the cryptocurrencies will crash as well. But as they are meant to replace fiat money and the actual system, the crash could be useful for them. I mean that maybe virtual money can survive for the upcoming financial crash and therefore become number one on the market. It is possible. The goal of financial crises is to bring something new. If a crisis happens, cryptocurrencies might suffer but might come up a winner as well. People would give them a chance to grow and to change the system. Remember that the goal of cryptocurrencies is also to change the system and allow businesses to be faster and independent.
Well, it is just another way of payment. And it is very slowly. Visa transactions are in thousands times faster. Not everyone want to wait so long time.
I think that this can happen both sides, bitcoin will became more demaded, but also less expensive, because all people would need it now
...
Crash of a real economy (to the extent of 1929 or 2007) would in my opinion cause sharp increase in Bitcoin and Altcoins prices. People tend to look for safe heavens and cryptocurrencies have one special advantage over other assets - they are not linked to any other real indicators. They tend to move independently on a business cycle which is a huge advantage in times of a crisis.
Crash of a real economy (to the extent of 1929 or 2007) would in my opinion cause sharp increase in Bitcoin and Altcoins prices. People tend to look for safe heavens and cryptocurrencies have one special advantage over other assets - they are not linked to any other real indicators. They tend to move independently on a business cycle which is a huge advantage in times of a crisis.
It is also possible that a crash of the real economy would damage the prices of all cryptocurrencies.
When people are laid off or are in desperate need of money for other reasons they will start to liquidate
more speculative investments like Bitcoin or other cryptocurrency holdings.
It is hard to withdraw money from a retirement account, but it is easy to sell off a few coins when
you really need the money.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Crash of a real economy (to the extent of 1929 or 2007) would in my opinion cause sharp increase in Bitcoin and Altcoins prices. People tend to look for safe heavens and cryptocurrencies have one special advantage over other assets - they are not linked to any other real indicators. They tend to move independently on a business cycle which is a huge advantage in times of a crisis.
If there would be a war the most safeties way to save bitcoins would be a desktop wallet in a portable hard disk and we can keep bitcoins in the hard wallet until the collapse of our world and hope that they would be alright.
In the case of a general crisis of the real economy in the world, interest in the crypto currency should increase and its rate in this regard will increase.
However, if there is a war, the scenarios may be different: in case of a local war, the rate of the crypto currency will increase, but if the war is global, then the crypto currency can simply disappear, because it will not be in demand or for technical reasons.
However, if there is a war, the scenarios may be different: in case of a local war, the rate of the crypto currency will increase, but if the war is global, then the crypto currency can simply disappear, because it will not be in demand or for technical reasons.
I think in every country they have their own economy. Especially if it is a crisis. It is all connected in our daily lives and role in the economy. Everything is affected even Bitcoin. Because Bitcoin depends on its users.
the world economy and events won't related to cryptocurrency too much larger extent they are independent and decentralised crypto economy depend on their trust one to one
Most likely, when another eonomic crisis occurs, lots of people and coumpanies will rush to move their holdings to safer stores of value and bitcoin will definitely be one of them. The high demand on btc will inevitably drive its price to the moon.
I see the situation will be a bit different. When the economy crashes, people become poor, and they think about the other things - not to lose the job, feed their families. They may not have the money for BTC.
Economic crisis doesn't make people poor in a split of a second. It's a whole process. As soon as people realize the crisis has come, they will try to protect protect their funds by reinvestment. Plenty of them will find btc as a good store of value. Look at what is happening in Venezuela or Zimbabwe where depreciation of the local currency drove masses into crypto. Of course, not only regular working people will rush into bitcoin, but also businessmen and corporations. And that demand has all chances to drive the price dramatically up.
Centralized economy will not give any damn to bitcoin investment mate. Then you need to know that fluctuation on Bitcoin market happening due to marketplace movement and fake news spreading over local media site.
Other than centralized economy will not give any damn to crypto currency market mate.
If crypto rise in the market then centralized money get damaged more.
Most likely, when another eonomic crisis occurs, lots of people and coumpanies will rush to move their holdings to safer stores of value and bitcoin will definitely be one of them. The high demand on btc will inevitably drive its price to the moon.
I see the situation will be a bit different. When the economy crashes, people become poor, and they think about the other things - not to lose the job, feed their families. They may not have the money for BTC.
Economic crisis doesn't make people poor in a split of a second. It's a whole process. As soon as people realize the crisis has come, they will try to protect protect their funds by reinvestment. Plenty of them will find btc as a good store of value. Look at what is happening in Venezuela or Zimbabwe where depreciation of the local currency drove masses into crypto. Of course, not only regular working people will rush into bitcoin, but also businessmen and corporations. And that demand has all chances to drive the price dramatically up.
Bitcoin and crypto currency could be seen as a luxury item and if there was a economic crash or crisis that would be reflected in crypto currencies it would either be positive or negative and would depend on what the crisis was.
Since there hasn’t been any economic crisis ever since Bitcoins emerged, I really doubt that it’s going to provide the same haven as Gold provides because it’s well known that Gold is very stable in case of financial crisis. 
Most likely, when another eonomic crisis occurs, lots of people and coumpanies will rush to move their holdings to safer stores of value and bitcoin will definitely be one of them. The high demand on btc will inevitably drive its price to the moon.
I see the situation will be a bit different. When the economy crashes, people become poor, and they think about the other things - not to lose the job, feed their families. They may not have the money for BTC.
Bitcoin and crypto currency could be seen as a luxury item and if there was a economic crash or crisis that would be reflected in crypto currencies it would either be positive or negative and would depend on what the crisis was.
china accidents affecting bitcoin prices, the bitcoin price hike as coverage of china occurs quite frequently. This can be a source of constant unrest and frustration for people holding bitcoins for the long term, this could be the cause of its bitcoin price and news from other countries also have an impact on bitcoin prices. one of the most notable examples is the bankruptcy of Mt.Gox.
Depending on the crisis level, could it be that people start cashing out since they need money?
Unexpected situations can effects bitcoin only. like wars, crisis etc. Regular economic can not effect bitcoin and altcoin market.
If there is an economic crisis or war, then bitcoin will definitely be affected. The whole society will be unrest so that no one is interested in collecting bitcoin. Maybe gold is more valuable, and people can carry the same value in a few years. I think the economic crisis will destroy all financial commodities, including bitcoin.
If there is another economic crisis in the world, this will cause mistrust of ordinary money and increase the demand for crypto currency. However, if war begins, then interest in crypto currency in will depend on the size of such a military conflict. In the local war, as the events in the zone of recent tension in the region of North and South Korea have shown, the rate of the crypto currency is increasing. However, if the war is global, it seems to me that very few people will then be interested in crypto currency. If then the Internet will still exist.
I actually feel like that bitcoin prices may go up in real value, despite the economy crash.
The thing is, bitcoin is by nature, a hedge against fiat currencies. And in a full on economy crash or hyperinflationary scenario, fiat would lose at least part of its value if not most of its value. The entire fiat system could even become dysfunctional.
Bitcoin would be the clear alternative currency to use, and in a way, it forces people to adopt it in order to trade. Obviously, these are extreme scenarios. But the fact that BTC is indeed a hedge against fiat makes it a great long term investment.
The thing is, bitcoin is by nature, a hedge against fiat currencies. And in a full on economy crash or hyperinflationary scenario, fiat would lose at least part of its value if not most of its value. The entire fiat system could even become dysfunctional.
Bitcoin would be the clear alternative currency to use, and in a way, it forces people to adopt it in order to trade. Obviously, these are extreme scenarios. But the fact that BTC is indeed a hedge against fiat makes it a great long term investment.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Dude, what I believe is that Bitcoin is meant for the same purpose just as other payment methods like PayPal and similar ones. If you think that Bitcoin was made to replace bank or whatsoever, then you’re wrong. Bitcoin is just there to make things to be a little more easier for you than it used to be. Just like when you want to make an international transaction with banks, there are lots of fees to pay, making it very costly move money to a different country.Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
But, with Bitcoin you can easily send and receive money without much stress and lesser transaction fees. As for whether the economy can affect Bitcoin or not, I think the answer is yes.
Most likely, when another eonomic crisis occurs, lots of people and coumpanies will rush to move their holdings to safer stores of value and bitcoin will definitely be one of them. The high demand on btc will inevitably drive its price to the moon.
Well, I think this is a common sense question. But still here is my answer.
I got this from here ---- https://www.thebalance.com/what-is-economic-growth-3306014
I simply I would say that if you know how economic status of a country is measured then you would know how it affects bitcoins.
I want to highlight the fact that economic growth creates profit for businesses and with that case, companies could invest in to cryptos that would increase the demand of it and like stock prices, it rises.
Another point is MORE JOBS are created. Companies may provide works and bitcoin as mode of payment or people with jobs could just jump in into cryptos.
Investments are very important to the supply and demand circulation.
Quote
Economic growth is an increase in the production of goods and services over a specific period. To be accurate, the measurement must remove the effects of inflation.
Economic growth creates more profit for businesses. As a result, stock prices rise. That gives companies capital to invest and hire more employees. As more jobs are created, incomes rise. Consumers have more money to buy additional products and services.
Purchases drive higher economic growth. For this reason, all countries want positive economic growth. This makes economic growth the most watched economic indicator.
Economic growth creates more profit for businesses. As a result, stock prices rise. That gives companies capital to invest and hire more employees. As more jobs are created, incomes rise. Consumers have more money to buy additional products and services.
Purchases drive higher economic growth. For this reason, all countries want positive economic growth. This makes economic growth the most watched economic indicator.
I got this from here ---- https://www.thebalance.com/what-is-economic-growth-3306014
I simply I would say that if you know how economic status of a country is measured then you would know how it affects bitcoins.
I want to highlight the fact that economic growth creates profit for businesses and with that case, companies could invest in to cryptos that would increase the demand of it and like stock prices, it rises.
Another point is MORE JOBS are created. Companies may provide works and bitcoin as mode of payment or people with jobs could just jump in into cryptos.
Investments are very important to the supply and demand circulation.
If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
In case of some specific country's economy you would be right in case the government officially recommends people to switch to bitcoin. Otherwise the price will not be affected a lot as most of people will just suffer helpless. As for the global economy, I think the answer depends a lot on the reason of the crisis. If it is due to a huge war between major countries or domination of some traditionalist/communist ideology, then bitcoin will be as useless as everything else. If the global economy crisis is predicted as inevitable by some experts, but humanity will still be living prosperous, then crypto market can give a chance of saving the world economy, so the prices will rise like hell. If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
There were not wars in Europe from a long time and I hope the US would not invade other countries for their own interest anymore and that the US would not give a damn about those countries.
2 scenarios are possible during economy crash:
- Large hodlers/investors will exit from bitcoin as from risk asset
- People will buy bitcoin as store of value asset
The only needed thing is to identify it class
- Large hodlers/investors will exit from bitcoin as from risk asset
- People will buy bitcoin as store of value asset
The only needed thing is to identify it class
bitcoin and cryptocurrencies are virtual,meaning can be stored without any damages if war disruption comes,and so i see nothing to be afraid of when this serious matter happens.war wasnt permanent though it will take for long,so what we have here is just reconnecting when the game is over and crypto will back to business
Well yes, but that's not the biggest problem. The biggest problem would be people selling all of their bitcoin and crypto to cover their loses and have some money in case something bad happens, not speaking just about war but any tragedy.
"just reconnecting" isn't the problem that much, people dumping and dropping the price might be.
If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
This response here isn't just ambiguous and ambivalent to the title question, it is a "ghen ghen thing" Complicating issues with a yes and no answer isn't what the forum seeks as no one will benefit from such a response.If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
Anyway, back to course. Whatever affects the world economy drastically will also have an adverse effect on cryptocurrency. The simple reason being that it takes demand and supply to achieve price level. And when no one is buying, price remains stagnant or goes down. This is the likely scenario when there is war or financial meltdown. Resources will expectedly be scare and the little available will be channeled to enable survival and not investment.
There are several assumptions that we have to keep in mind when we are talking any decentralized currency price prediction after economy crash.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
I agree, the only thing that affects price of cryptocurrencies is buying-selling and in a space called Blockchain nobody can influence at the price. Economic crisis can affect the cryptocurrencies, but it may be due to the fact that it is not just people's money.
In my opinion, If cryptocurrencies were instead of paper money, there would not be economic crisis.
Like any other asset,Bitcoin store some value and makes an easy fall back option in case of economic crisis.
Bitcoin is alike and thus fungible, transferable, divisible and finite so people will hold on to Bitcoin in the time of economic crisis and it's value will shoot up.
Bitcoin is alike and thus fungible, transferable, divisible and finite so people will hold on to Bitcoin in the time of economic crisis and it's value will shoot up.
There are several assumptions that we have to keep in mind when we are talking any decentralized currency price prediction after economy crash.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
I am assuming that there is an economic crisis already at this moment some of the segments that have really flowed in money have felt this SD Nation or the bottom layer is living with the minimum wage of people working in a living economy in my country is not really a crisis, but the cost of living is very high, it is worth fighting or a similar If this is the case, these are really economic crises. This is how much it affects bitcoin. I do not even want to think about it.
If some kind of economic crisis happens, we shoul nor freak out ans strart seling them for no money, that's not a smart move at all.
It would be really interesting to see, becouse the theories are lot recent days. How exactly it would go, and how crypto can replace fiat?
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Most likely this will happen if people start losing trust in banks and governments, not that they have a good one right now but people still to prefer something that is controlled and monetized rather than something volatile that can change at any given point, in this scenario people would start using cryptocurrency more and that would lead to its price rising up, which will cause even more problems, because how would an average person who doesn't own any cryptocurrency will survive in that case. Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
When wars take place, you inevitably have civilians running to save their lives while having to leave behind their property and belongings. Even if they carry something, It is vulnerable to theft and loss. in such a scenario, people would be more than willing to keep some BTC as an asset that can be carried without much of a physical footprint and can be kept safe very easily.
Not that anybody should wish war or economic collapse but i think such a situation will inevitably prove the strength of peer-to-peer currency that needs no government or central bank to impart it value.
Not that anybody should wish war or economic collapse but i think such a situation will inevitably prove the strength of peer-to-peer currency that needs no government or central bank to impart it value.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
I don't think that this can happen ever as bitcoin and cryptocurrencies are just that kind of ecosystem that is still unforeseen by the governments around the world and I believe that this will be the same in next 10 to 20 years. I believe that when a country starts to launch their official cryptocurrency then the process of mass adaption would start and if that cryptocurrency fails then that could lead to an economic meltdown in that country. Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
The possibility of bitcoin to be completely dead does not exist because this crypto currency has been going back ti its value and growing after that every time starting from January in 2009
If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
The severe economic crisis in the world does not make all the currencies will survive, where the value of Fiat will be greatly reduced and hold Bitcoin too they will not be at a greater cost, all will not be worth it when a very sharp crisis happens, do not know what should they do to grow the economy, I am sure the economic crisis will greatly affect the price of BTC, as there will be a lot of price worries that fall sharply and outdone by necessity.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Of course, economic status will really affect the price of bitcoin. And whatever is the situation or problems the world is facing will affect the economy. The worse will be the crisis the world is facing, the bigger will be the possibility of bitcoin crash.Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
The real crash would be directly related to the crash of the crypto currency. Obviously because that is from were we are getting the money invested into the crypto and that is the reason the crypto currencies are having the value. Once the crisis is declared I am sure that next move for everyone in the crypto community would be to sell off everything that they have got to save the asses from he real world crisis and get some handful of money. The net effect would be crash of the bitcoin economy and followed by the altcoins going red. That is the simple explanation about what will happen.
In days of economic crisis, people will usually withdraw their investment or savings in order to supply their needs. As crypto investors, people may withdraw a lot of cryptocurrency to convert into fiat. Now, if there are many people who will withdraw cryptocurrency, it will lead to a great loss of its price.
Lots of people have their savings in bitcoin (that is, they are living on the fiat earned in their jobs and their bitcoin money is savings they don't need).
In economic crashes, people start to draw down their savings in order to live, if they've lost their jobs. So I would see lots of sells, which would push the price down. At the same time there might be a few cash rich whales who wait at low prices, hoping to scoop up cheap coins.
This happens every recession by the way - the poor use up their savings and sell assets (including houses) to live. A few rich people take advantage and buy stuff cheap. For example most of Joseph Kennedy's wealth was built after the Wall Street Crash when people were selling their land at firesale prices and he was scooping it all up for a song.
In economic crashes, people start to draw down their savings in order to live, if they've lost their jobs. So I would see lots of sells, which would push the price down. At the same time there might be a few cash rich whales who wait at low prices, hoping to scoop up cheap coins.
This happens every recession by the way - the poor use up their savings and sell assets (including houses) to live. A few rich people take advantage and buy stuff cheap. For example most of Joseph Kennedy's wealth was built after the Wall Street Crash when people were selling their land at firesale prices and he was scooping it all up for a song.
In economic crises people tend to remove their money from everything that is related to the economy and put it somewhere where the money is really backed up.
I am not sure what that means for bitcoin. Although bitcoin is considered to be the new gold, bitcoin is not backed up by a real good.
On the other hand bitcoin is not connected to the banking system either. Banks are one of the first institutes that suffer greatly under economic crises.
And because of bitcoin does not depend on banks, I can really imagine that its value would rise in the case of an economic crisis.
I am not sure what that means for bitcoin. Although bitcoin is considered to be the new gold, bitcoin is not backed up by a real good.
On the other hand bitcoin is not connected to the banking system either. Banks are one of the first institutes that suffer greatly under economic crises.
And because of bitcoin does not depend on banks, I can really imagine that its value would rise in the case of an economic crisis.
Quote
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
History has seen worst of the time we could ever imagine. Looking after that im sure that bitcoin will stand out as different technology which can help during the times of war to transmit the coded or encrypted messages and war instructions through the use of blockchain technology and thus make the enemy lines very strong. This could happen and bitcoin might just get heavy invested to buy supplied of war and food and much more things. The physical currency may not help much while working between to friend countries as war will make it different to transact through. Then the bitcoin will be currency to trade thing via internet and thus will get huge value I would say. I think this is one of the possible scenario in the war or financial crisis.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
bitcoin and cryptocurrencies are virtual,meaning can be stored without any damages if war disruption comes,and so i see nothing to be afraid of when this serious matter happens.war wasnt permanent though it will take for long,so what we have here is just reconnecting when the game is over and crypto will back to business Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
I am not sure if this is related or not but the recent events in the American stock exchange caused something similar as you are depicting here. The wall street news spreader like very bad and it was kind of financial crisis when stocks were sold on major scale. The ultimate effect was seen on the bitcoin and many top currencies in the crypto thus leading to disatrous effect on the market cap. The same thing might just happen when there will be world economy crash but I assume that the event will be bigger than the American stock crisis and we may see the crypto currency falling to zero and may never recover from the shock like that.
It can be withdrawn as gold.
On March 5, 1933, the US President issued a decree prohibiting the export of gold abroad and the private accumulation of gold. On April 5, 1933, the new decree of the president demanded that all US citizens obligatory deposit their gold reserves in the Fed's reserve banks if their reserves exceeded $ 100.
Now they say: we hide, no one will know, but then almost all handed over.
On March 5, 1933, the US President issued a decree prohibiting the export of gold abroad and the private accumulation of gold. On April 5, 1933, the new decree of the president demanded that all US citizens obligatory deposit their gold reserves in the Fed's reserve banks if their reserves exceeded $ 100.
Now they say: we hide, no one will know, but then almost all handed over.
Quote
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
it is hard to answer with Yes because price changes fast that make deals with bitcoin so hard . we need to wait more till get trust
So if there is an Economy crash that leads to people withdrawing their Bitcoin, then it will affect Bitcoin seriously, and price rate will fall, unless the devs decide to stick to that price, because they are the ones that decide what price rate Bitcoin stays.
Let's not wish for any war. In Europe wars are not happening from a long time now and I hope the US stops invading other countries for their interests and not that they do give a damn about those countries. In case of a war we should save our bitcoins in a desktop wallet in a portable hard disk, we can keep them in the hardware wallet and hope to have them until the world ends.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
We are taking a lot more damage more than that. One of the most problems of the world today is economy. People are suffering and one of the main reasons why the third world is not well aware in cryptocurrencies is that people have no internet and not everyone can pay the bills online. Main reason also why the adoption of btc is not good in the third world.
Economic crash like they are saying are maybe caused by a natural disaster of a global war, which would kill millions of people and cryptocurrencies are not important because in war survival is the most important. And true. Lets not wish for that to happen.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
No, i think that wont happen in BTC anytime right now. Gold have a global adoption and the experts are saying that the adoption of BTC is only @ 1/2 percent of the world population. Its unhealthy for crypto community if economy crash.
Its hard to say what will be with Bitcoin in case of crisis. It depends on how easily you can use it in everyday life.
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
Bitcoin is considered collateral now, altcoin is backed by bitcoin and bitcoin is proved that it have it own scarcity and usability than GOLD.
So It is basically never happen.
Its hard to say what will be with Bitcoin in case of crisis. It depends on how easily you can use it in everyday life.
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
For example, imagine the situation: financial crisis is on, all the markets are on decrease, main currencies are becoming more cheap. Bitcoin is stable, because it has no backing by any of the real asset. Ok. So when you short of fiat money and there is no convenient way to spend your Bitcoins, what should you do? Right, you exchange your Bitcoins into fiat and don't let your family starve.
From this point of view the price for Bitcoin can go down due to financial crisis.
This is only my imagination)
Right now it seems that big names in the financial sector are slowly transitioning over to crypto, and this could also be the reason why there has been a sudden push to a new ATH in just a small span of time: institutional investors realizing that the USD is no good on keeping their assets in the coming years due to its devaluation. If anything, this could cause another FOMO for bitcoin and everyone would be buying it to keep their wealth safe from the economic depression. That's how I see it, and that is how others see it too. So for me, it's sane to hold your btc for the next few years if you want to be saved from yet another economic depression.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
Assumably, true because bitcoin value will not disappear from anyone's wallets. So it acts like a digital storage during a economical crisis. Then after, waiting for a rise.
Yet psychologically speaking, I think with such crisis, people would want to have a tangible amount of money during such times. If not panic selling, they would withdraw everything for their needs.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
In case of real economy crash, bitcoin will behave like gold. If you are an old investor of real world stock market, you must have noticed that gold price always goes up if the market crashes for any reason. Because during a market crash, investors move their fund to exchange traded Gold for capital protection.
So I believe, bitcoin will react the same way as gold during any economy crash. Bitcoin and crypto market has its own unique set of fundamental values and are not directly co-related with the stock market. That makes it a safe investment during the economy crash.
Quote
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
it is hard to answer with Yes because price changes fast that make deals with bitcoin so hard . we need to wait more till get trust
A real crash or war scenario would cause fiat currencies of many countries to fail, meaning the interest in cryptocurrencies would increase, due to their relative stability in such a situation. Although I hope it won't come to this, because bitcoin would be the least of our concerns in such a scenario.
Let's not wish for any war. In Europe wars are not happening from a long time now and I hope the US stops invading other countries for their interests and not that they do give a damn about those countries. In case of a war we should save our bitcoins in a desktop wallet in a portable hard disk, we can keep them in the hardware wallet and hope to have them until the world ends.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
In the case of economic disaster, you will not be able to use their bitcoins. The state will stop everything. It may even provoke riots. Bitcoins can replace Fiat. It seems to me that this should prompt the government to reconsider the approach to currency and to a more equitable distribution of income from the economy. A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
Conflicts are everywhere according to the News : Middle East, North Korea, and so on
I do think crypto & ICO are the present boiling bubble because the exponential is not a line likely to be found in the Nature.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
I do think crypto & ICO are the present boiling bubble because the exponential is not a line likely to be found in the Nature.
Let's not wish for any war. In Europe wars are not happening from a long time now and I hope the US stops invading other countries for their interests and not that they do give a damn about those countries. In case of a war we should save our bitcoins in a desktop wallet in a portable hard disk, we can keep them in the hardware wallet and hope to have them until the world ends.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
A collapse from crypto themselves is highly unlikely as Bitcoin has demonstrated it has the capability of only increasing in value from January 2009 until now.
In case of an economic disaster we should hold them and do not do anything stupid to sell them undervalued.
Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Jump to: