North Korea threatens 'unimaginable' strike on United States

InvoKing

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Quote from: StockBet.com on October 19, 2017, 07:35:25 AM

Article came out an hour ago. Let's see if there's going to be any correlation with Bitcoin's price.

The Bitcoin price is volatile and isn't really correlated with what the articles cite. Maybe some major news that implicate Bitcoin could have an impact such as a hard fork, halving....etc

DustyRah

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USA along with its allies may attack North Korea next year. What sort of attack remains to be seen but flying B1 bombers along the coast does not signal conventional war but rather a nuclear war. They may drop nuclear bombs on strategic targets while laying to ruins artillery along the DMZ using conventional weapons.

It will be a very tense time after spring of next year. I don't think there will be any way out other than a war. Now, Bitcoin will do fine then. In fact, people may choose to drop cash into it as they do into gold. I don't think it will affect Bitcoin positively but it won't negatively either.

BTW, a war with North Korea can bring about a real shift in people's priorities and can bring about some new dynamics into the game.

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Quote from: StockBet.com on October 19, 2017, 06:54:19 AM

Gold is usually a safe haven in times of crisis. Why don't you think cryptocurrencies will be?

There's a donut hole of crisis.

If the situation is catastrophic enough to put national currencies and contract enforcement in doubt, "hard money" becomes important for trading with strangers - and Bitcoin is the hardest digital currency right now. So that might end up "good for Bitcoin" in a sense.

But if the situation is catastrophic enough to put the availability of an Internet connection in doubt, Bitcoin is useless, because the network can't gossip and converge (there was a thread a while back about how we might be able to failover to HAM radio, but I doubt that's been built yet).

So for a time of crisis to be good for cryptocoins, it has to land in that narrow landing zone - where the crisis threatens confidence in the governments, but doesn't bring down the infrastructure.

fabiorem

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I just noticed today that https://longforecast.com/bitcoin-price-predictions-2017-2018-2019-btc-to-usd is now including 2020 and 2021 in its daily predictions. At least today I can see a drop in price starting in 2020 and closing by november 2021 at the price level of february 2019.

So, what do you think, is a world war programmed to start by the second half of 2020? Would this make BTC price drop?

MissionPhailed

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Yes, North Korea has been barking for decades now but will not take the military initiative; it is in the best interest of the regime to maintain the image of a true villain (USA) to keep the population docile, but they'll massively overplay their hand when attacking first.

I'd say such a scenario would have a small influence on crypto in the sense that some more funds will flow into it, but I highly doubt it would launch the market cap into the trillions. If the war would grow to a global scale, crypto would likely even crumble.

JanpriX

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N. Korea usually do this kind of things to USA as they are "fighting" for the world's strongest country title. If they threat become an act, that would insurmountably affect stocks and their price will surely plummet to dirt cheap prices. Many will say that this will also be bad to crypto but my opinion is the opposite outcome of it. People will see that stocks' value are diminishing and their next move will be "to transfer" their fiat and assets' value to crypto. Price of BTC and alts will soar more. This is just my own opinion. Undecided

pitiflin

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Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

Cryptos will go down real bad, markets will crash as shit, people will panic sell because they would require that money for their own good, for them to survive, a very minute and less percent would hold it and those people would must Likely be from the country which wont be affected due to the war happening. Trump ain't gonna keep quiet and Kim Jong Un wants to poke the silent bear, as if US hasn't done enough already to the Muslim countries like Iran, Syria and the like. But this time a lot of countries will participate in the world war, they would risk it all to take US either down or make a friendly close relationship with it, but sure they gonna participate in the war that GOD FORBID SHOULD NOT HAPPEN.

The Sceptical Chymist

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Quote from: StockBet.com on October 19, 2017, 06:54:19 AM

Quote from: davis196 link=topic=228903. 7.msg23231580#msg23231580 date=1508413308

Bitcoin and other cryptocurrencies are not a safe heaven in case of a nuclear war.

Gold is usually a safe haven in times of crisis. Why don't you think cryptocurrencies will be?

Because they're too damn volatile, that's why. Plus most people don't even know what they are, and they DO know what gold is.

I'm pretty sure bitcoin has already priced in the uncertainty and everything else, but I've been wrong before about such things. Meanwhile, gold and silver haven't been doing much, price-wise. They're about as beat down as an asset class can get. Maybe it's time to buy some metal??

CoinsCoinsEverywhere

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Quote from: AtheistAKASaneBrain on October 19, 2017, 11:17:46 AM

It is similar to the good ol Public Bank of China (PBOC) threats of banning bitcoin. Anyone remembers how the first they said this it was a disaster? the price crashed. The next time, it also crashed. The third time, it was clearly not as effective, which meant that they were forced to actually ban it, so they ended up banning Bitcoin... and what do we have? an all time high after the ban, which means China can no longer FUD Bitcoin, which is really bullish.

Yes, this was quite the victory for bitcoin. Now we just need the Chinese government to surrender completely and reinstate bitcoin trading.

Quote from: AtheistAKASaneBrain on October 19, 2017, 11:17:46 AM

Of course, this would mean that North Korea will eventually attempt a real nuclear strike on the US when they realize nobody cares anymore about their fake threats, let's hope we don't reach that stage.

Yeah, I was wondering if you were going to continue to this logical conclusion after reading your first paragraph. One positive thing here is that North Korea has been making fake threats for years. Before Trump, they were mostly ignored. Of course, before Trump, they also couldn't really back up their threats....

AtheistAKASaneBrain

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Quote from: CoinsCoinsEverywhere on October 19, 2017, 11:08:39 AM

Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

At this point, this kind of stuff isn't news anymore. A day during which North Korea didn't make a threat would be more interesting. If war actually did break out, I would guess that cryptos would tank since so much market strength in the last several months has been due to increased interest in Japan and South Korea, which would be the most likely to be devastated by such a war.

Quote from: Slow death on October 19, 2017, 10:29:19 AM

war costs a lot of money and loss of life, the US president will not risk losing money and soldiers

I hope you are right. Every day he seems to become more unhinged. Right now, though, I think the biggest risk is if someone makes a mistake that sparks a war. Like if North Korea launched another missile over Japan and it went off course and hit something on land, rather than falling harmlessly into the ocean.

It is similar to the good ol Public Bank of China (PBOC) threats of banning bitcoin. Anyone remembers how the first they said this it was a disaster? the price crashed. The next time, it also crashed. The third time, it was clearly not as effective, which meant that they were forced to actually ban it, so they ended up banning Bitcoin... and what do we have? an all time high after the ban, which means China can no longer FUD Bitcoin, which is really bullish.

Of course, this would mean that North Korea will eventually attempt a real nuclear strike on the US when they realize nobody cares anymore about their fake threats, let's hope we don't reach that stage.

CoinsCoinsEverywhere

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Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

At this point, this kind of stuff isn't news anymore. A day during which North Korea didn't make a threat would be more interesting. If war actually did break out, I would guess that cryptos would tank since so much market strength in the last several months has been due to increased interest in Japan and South Korea, which would be the most likely to be devastated by such a war.

Quote from: Slow death on October 19, 2017, 10:29:19 AM

war costs a lot of money and loss of life, the US president will not risk losing money and soldiers

I hope you are right. Every day he seems to become more unhinged. Right now, though, I think the biggest risk is if someone makes a mistake that sparks a war. Like if North Korea launched another missile over Japan and it went off course and hit something on land, rather than falling harmlessly into the ocean.

harizen

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Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

North Korean leader have thin mind but he will not do recklessness. From my view, it's impossible they are 100% ready alone against the United States. A threat will remain a threat.

What will this do to cryptocurrencies? Sudden price crash might expected "if" the war will reached to it's extent and will lasts for long period. People will gather funds during war even outside the war zone and the best move to have here is to own fiat.

Slow death

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Quote from: 1Referee on October 19, 2017, 09:42:33 AM

The only thing Gold has as advantage is that you can use it as currency even without internet due to its physical form.

And to add, with gold you do not have to have many headaches because of scammers, different from bitcoin where many exchanges are arrogant and ignore their own clients, I like bitcon very much, but I would not advise for example to an old man to use all your savings to buy bitcoin and why would not I give this advice to the old man? because it would be normal for the exchange to steal the poor old man's money

Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

nothing!

war costs a lot of money and loss of life, the US president will not risk losing money and soldiers and the same goes for Japan and South Korea, and North Korea has no money to make war. and China will not want to go to war just to defend northern korea

1Referee

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Great political show/theater, it's all empty threats we see being thrown around. North Korea will be wiped out of existence if they happen to "strike", and I am sure they are well aware of that. I don't see why yet another empty threat should have any sort of impact on the stock market, or basically any market. Gold is indeed the more traditional safe haven, but Bitcoin or basically any other crypto currency is so too. If I would be in a situation where I would need my money to be converted into a safe haven asset, it would be Bitcoin because 1) buying Bitcoin is just a matter of a few clicks, and 2) it's far more convenient than Gold will ever be. The only thing Gold has as advantage is that you can use it as currency even without internet due to its physical form.

StockBet.com

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Article came out an hour ago. Let's see if there's going to be any correlation with Bitcoin's price.

BTCLovingDude

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Quote from: StockBet.com on October 19, 2017, 06:54:19 AM

Quote from: davis196 on October 19, 2017, 06:41:48 AM

Bitcoin and other cryptocurrencies are not a safe heaven in case of a nuclear war.

Gold is usually a safe haven in times of crisis. Why don't you think cryptocurrencies will be?

it will be both.
obviously Gold is the choice of everyone since it is well known and you don't have to introduce anyone to gold! but people may not even know bitcoin exists or have heard it as a passing thing.

but also ever since this year, bitcoin has been seen as a viable investment option which will also outperform everything else. so it would be expected to rise in case something happened and people were looking for some "safe havens".

other cryptocurrencies may also get some attention by just being similar to bitcoin. nothing else.

StockBet.com

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Quote from: davis196 on October 19, 2017, 06:41:48 AM

Bitcoin and other cryptocurrencies are not a safe heaven in case of a nuclear war.

Gold is usually a safe haven in times of crisis. Why don't you think cryptocurrencies will be?

davis196

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Quote from: StockBet.com on October 19, 2017, 06:37:34 AM

https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

North Korea makes such statements every day.What makes this threat more serious than the others?
The more dangerous thing is the unpredictable behaviour of Donald Trump.
Last time there was talking about a nuclear war the bitcoin price increased (i don`t know why).
Bitcoin and other cryptocurrencies are not a safe heaven in case of a nuclear war.

StockBet.com

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https://www.cnbc.com/2017/10/19/north-korea-threatens-unimaginable-strike-on-united-states.html

We know this will tank stocks.

What will this do to cryptocurrencies? (South Korea and Japan are among the biggest markets for Bitcoin.)

Topic: North Korea threatens 'unimaginable' strike on United States (Read 449 times)