Topic: If the US dollar crashed, would it affect bitcoin in any way? - page 7. (Read 6661 times)
December 19, 2015, 05:00:03 PM
Bitcoin won't go anywhere but up. People would soon start to transfer assets and value, and switching to another fiat currency won't do much. Gold might save the people, but bitcoins is pretty much what's everyone would be eyeing for in case an economic crash occurs.
December 19, 2015, 02:02:45 PM
That case BTC price will reach hypermoon
December 19, 2015, 10:10:54 AM
It will affect BTC-USD exchange rate, but 1BTC is still 1BTC...
If the US Dollar were to fail, then whatever took it's place would need to be a reliable unit of account. The global economy would probably fall back on gold the US Dollar is not going to crash and become worthless overnight. If it does, the price of bitcoin will be the furthest thing from our mind December 19, 2015, 09:45:44 AM
Countries are also likely to ditch the USD and enter into direct trade deals with each other using their own national currencies instead of USD. Then at later date after the crisis bitcoin might rise to power...
This is already occurring. Most of the Russia - China trade is already conducted in either the Russian Ruble, or the Chinese Renminbi. Currency swaps are gaining traction. Most of the nations which are using the United States Dollar are very concerned about the ballooning American federal debt, which can affect the value of the USD in the near future.
December 19, 2015, 07:50:04 AM
As we all know the global nature of world market - particularly how oil is traded in USD, it's likely that every economy will be significantly impacted.
Then a shift to a next best currency would likely occur quite quickly - but I doubt that it will anything crypto related. Also we will see significant rise of price of precious metals (gold, silver).
Countries are also likely to ditch the USD and enter into direct trade deals with each other using their own national currencies instead of USD. Then at later date after the crisis bitcoin might rise to power...
I think the price of bitcoin will rise once a global currency crashes. Crypto price will rice along with a crash, but I also doubt it would be used by governments. Nobody knows if the crash is this decade or the next. Then a shift to a next best currency would likely occur quite quickly - but I doubt that it will anything crypto related. Also we will see significant rise of price of precious metals (gold, silver).
Countries are also likely to ditch the USD and enter into direct trade deals with each other using their own national currencies instead of USD. Then at later date after the crisis bitcoin might rise to power...
December 19, 2015, 07:45:28 AM
As we all know the global nature of world market - particularly how oil is traded in USD, it's likely that every economy will be significantly impacted.
Then a shift to a next best currency would likely occur quite quickly - but I doubt that it will anything crypto related. Also we will see significant rise of price of precious metals (gold, silver).
Countries are also likely to ditch the USD and enter into direct trade deals with each other using their own national currencies instead of USD. Then at later date after the crisis bitcoin might rise to power...
Then a shift to a next best currency would likely occur quite quickly - but I doubt that it will anything crypto related. Also we will see significant rise of price of precious metals (gold, silver).
Countries are also likely to ditch the USD and enter into direct trade deals with each other using their own national currencies instead of USD. Then at later date after the crisis bitcoin might rise to power...
December 19, 2015, 07:41:03 AM
I doubt that this will happen, dollars are unlimited if they make it to be. It can go either way really. Right now everyone is depending on the dollar or whatever fiat their country runs. Without fiat, you wouldn't know what 1 bitcoin would be worth right now.
December 19, 2015, 07:18:24 AM
As the title says, what would be the effects on bitcoin if the US economy crashed?
Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
If us dollar crashes (totally impossible according to me) then the first thing that Federal Reserve will (must) do is to create another national legal currency, a new one which will have all the needed corrections which make the us dollar crashes. This is for sure. Then what could happen with bitcoin is (as it is always with bitcoin) a big question market. Because will be measured with the new USA national currency. Supposed better than the us dollar. So from one hand will have the people disappointed from the national currency (the ex one) and this factor can bring most of them versus bitcoin. Move that will increase its price. On the other hand will have a much better new currency associated with all the possible propaganda of the State of Usa. This can slow the flux of the people who will want bitcoin. The result. Everyone make its choice.
i dont get it, how can they simple create another currency just like that. and what made you think that its impossible for the dollar to crash, first off US dollar is highly overvalued and the bubble might burst ..lets see.
December 19, 2015, 07:09:19 AM
If usd took a massive plucge in price i would think a large portion of usd users would jump aboard the btcexpress but it would have to be a pretty major crash, the likes of which has never been seen before. At least if it did happen then btc is waiting to cushion your fall.
December 19, 2015, 07:08:30 AM
I think it will have a negative impact on Bitcoin. If the United States Dollar loses it value, then the people will offload risky investments such as equities, bitcoin, mutual funds.etc and will try to amass safe investments such as bullion bars and real estate. Bitcoin will lose its worth, of such as scenario happens in the real life.
December 19, 2015, 06:58:52 AM
I´d say it would rise significantly in such a scenario and very likely way beyond the ATH of november 2013. If only 0,1% of the US population would put at least part of their savings into BTC, it would be enough to drive the value well into the four digits ... !
December 19, 2015, 06:25:09 AM
If and when the dollar crashes I think bitcoin will raise in value. I don't think this will happen any time soon.
But I'm sure that when this happens there will be a lot more demand for bitcoin.
But I'm sure that when this happens there will be a lot more demand for bitcoin.
December 19, 2015, 05:41:06 AM
it would affect the euro first and other strong fiat currency, and maybe bitcoin in some positive way
bitcoin then will be tied to euro or the new strong fiat currency
bitcoin then will be tied to euro or the new strong fiat currency
This is more likely to happen. If the USD collapse due to the enormously debt it has, then it will affect USD only.
December 19, 2015, 05:17:43 AM
As the title says, what would be the effects on bitcoin if the US economy crashed?
Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
If us dollar crashes (totally impossible according to me) then the first thing that Federal Reserve will (must) do is to create another national legal currency, a new one which will have all the needed corrections which make the us dollar crashes. This is for sure. Then what could happen with bitcoin is (as it is always with bitcoin) a big question market. Because will be measured with the new USA national currency. Supposed better than the us dollar. So from one hand will have the people disappointed from the national currency (the ex one) and this factor can bring most of them versus bitcoin. Move that will increase its price. On the other hand will have a much better new currency associated with all the possible propaganda of the State of Usa. This can slow the flux of the people who will want bitcoin. The result. Everyone make its choice.
If it happens then we would certainly see an spike in Bitcoin value due to the new demand that would benefit Bitcoin and will certainly help into showing or rather introducing it as a new variant into the world monetary transfer as oppose to the tradition way of US Dollars.
if the us economy cripples , sure there will be a increase interest in bitcoin for sure ,it wont affect bitcoin in a negative way ,its a good thing for bitcoin, it will blow the charts off for sure. people will be looking for a way to invest either in gold silver and bitcoin .
i agree,people will turn to a new currency to store their money in and everyone buying bitcoin will result in an increase of value.It will surely increase the value of Bitcoin and demand for Bitcoin will be much more because more people will try to invest in it but I don't think it's gonna happen anytime sooner because if a situation like arise I think US government will come up with some new currency to cope up with the challenge
it would affect the euro first and other strong fiat currency, and maybe bitcoin in some positive way
bitcoin then will be tied to euro or the new strong fiat currency
bitcoin then will be tied to euro or the new strong fiat currency
Prices would skyrocket for sure because a large fraction of the bitcoin community is American (and that fraction would only be getting larger in this scenario).
It will affect BTC-USD exchange rate, but 1BTC is still 1BTC...
For sure it is. And I see everyone repeating this everywhere. "1 BTC will always be worth 1 BTC". But right now, most people's savings are in fiat. Which means that the point where you buy your 1 BTC matters. 1 BTC is 1 BTC but 10000 BTC are not 1 PIZZA anymore. Please. As the title says, what would be the effects on bitcoin if the US economy crashed?
Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
There would most likely be a very sharp rise in the value of Bitcoin, Precious Metals, and other currencies. At the point where the USD is crashing, everyone is using any means to save their wealth. This means, if they can figure out how to use Bitcoin, they will most certainly be plowing through the exchanges trying to transfer their wealth.Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?
As for the current Bitcoin users, I doubt they would dumb their BTC unless life required it. They would at most use it for life expenses, however aside from that they would most likely intend on holding their Bitcoin as it is one of the few ways for them to preserve their wealth.
It will affect BTC-USD exchange rate, but 1BTC is still 1BTC...
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