Recession and Bitcoin | Bitcointalksearch.org

Kiweikoo

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Quote from: pivxmen on June 27, 2018, 12:36:30 PM

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

Let's talk about the new technology and the fact that we are talking about the idea of deflation here which is actually what makes bitcoin come into creation today. If we are not skipping that part, I want to believe in the moment where things are going crazy, a lot of people will be looking for easy way out as a haven and with physical assets being one of the easiest ways back then; a lot may start considering digital assets.

We all know institutions may start beginning to have that planned out, hence this attempt of seeing the value drive down. I hope I am not wrong, but I will gladly take my chances with the crypto space anyway.

dangerousdanjon

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Quote from: suzanne5223 on June 27, 2018, 04:28:34 PM

If the recession predicted by the economist experts does happen then Bitcoin will be the safer asset for people and this would also give Bitcoin more popularity and more profit for we cryptonier. Meanwhile, this could be the reason why the whales flooded the market so we could buy dip.

A lot of people are still imagining bitcoin may not be the safe have from all I have read so far, but I guess that is one debate that time will eventually solve. I believe bitcoin and some other cryptocurrencies will be used more as a safe haven and looking at the fact that is a decentralized currency, it makes it easier to still carry out transaction activities easily rather than when we put our funds in physical assets pending when the whole recession will subside. Satoshi brought about the blockchain technology and built the first coin on it because of this, and what makes us think this vision will not come into play very soon.

adzino

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Quote from: airdropcoin on December 01, 2018, 02:12:09 AM

Yes, the cryptocurrency market will follow the decline of the financial crisis. Bitcoin will take off when the financial crisis is out of control. This may be a long process. Now we have seen a decline in cryptocurrencies, a decline in the stock market, and a drop in crude oil.

What financial crisis are you talking? I am not aware of such crisis. Can you enlighten me? If you are talking of those normal global economic crisis, I don't think it will be affecting the price of the bitcoin. In fact, the price of bitcoin should be rising during such crisis. Everyone will move their fiat investment to bitcoin or other crypto currencies, since investment on those during the crisis makes proper sense.

airdropcoin

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Yes, the cryptocurrency market will follow the decline of the financial crisis. Bitcoin will take off when the financial crisis is out of control. This may be a long process. Now we have seen a decline in cryptocurrencies, a decline in the stock market, and a drop in crude oil.

Janation

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Quote from: mensahkkofie on November 29, 2018, 07:03:12 AM

Quote from: RasicaOla12 on June 26, 2018, 04:00:50 AM

Bitcoin has been with the founders and investors for more than a decade as you have believed, but the bitcoin has its ups and downs as well as the pace or pace of development it.

Exactly, sometimes people forget so soon about bitcoin and how far this digital currency have come. I believe nothing good in life comes easy, there are bounds to be ups and downs in our lives. This is not the first time bitcoin is going down, I know it would bounce back bigger and stronger.

It did came back but I think it is just going back and forth again.

I do not know what is happening but we do know that it is normal for Bitcoin to be this way. With a lot of investors or users in the world, the volatility became more higher than we expected and might became higher the more the demand increases. We should be ready with the upcoming changes, I am not saying that Bitcoin will be going down but we should be ready.

Femhab

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In the context recession can vary, it only depends on which type we are talking about. If it is in terms of currency such as most replies inclined then saving money in Bitcoin later in future will save from that upcoming recession but if it is general economic recession then more is needed than just saving in BTC or any crypto it's totally affecting all economy.

Gibreil

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Quote from: rohitkaira on June 25, 2018, 09:12:37 AM

As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.

The crisis might come! As of now, dollars and cryptocurrency devaluated much. I expect that many people will invest in bitcoin once there is a recession in our economy. They will backed their asset through bitcoin since fiat currency might lose its value. Well, I hope crisis won't come next year because we lose a lot in 2018.

South Park

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Quote from: rohitkaira on June 25, 2018, 09:12:37 AM

As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.

People are only going to use bitcoin out of desperation as we have seen in other countries, people are not very fond of the ideas behind bitcoin that is why they do not adopt bitcoin as fast as we are doing it, but when they find themselves in a difficult situation like a crisis in their county they will use whatever that works and bitcoin will be an option at that point but not before.

SCheek

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Quote from: rohitkaira on June 25, 2018, 09:12:37 AM

As many experts and economists are predicting recession in near future, will Bitcoin emerge as safer asset globally during recession like gold and similar assets, global investors might look for a global standard asset as compared to regional or fiat currencies which devalues in recession.

I'm no so sure as many cryptos derive their use from sending funds safely across borders. If that falls then I think demand for Crypto will too.

mensahkkofie

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Quote from: RasicaOla12 on June 26, 2018, 04:00:50 AM

Bitcoin has been with the founders and investors for more than a decade as you have believed, but the bitcoin has its ups and downs as well as the pace or pace of development it.

Exactly, sometimes people forget so soon about bitcoin and how far this digital currency have come. I believe nothing good in life comes easy, there are bounds to be ups and downs in our lives. This is not the first time bitcoin is going down, I know it would bounce back bigger and stronger.

naidray

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Quote from: ivrynx on June 27, 2018, 05:10:30 PM

If there would be a recession, all forms of money we hsve today would be useless, and the only legit form of payment, will again be gold or we migjt go bakc to a barter exchange, bitcoin would also not be amsafe haven for all, since bitcoin is volatile, rather than sepnding bitcoin, people might just HODL for a very long time and wait till the recession surpasses, but during the event, bitcoin will also be obsolete, since its fiat counterpart would be of no value.

Probably we are forgetting about the possibility of having a digital gold in our hands. Thinking bitcoin will be obsolete actually made me laugh considering the fact that when one is weak, one actually will have to be strong.

If fiat is crashing, the main idea is to be looking for easy way out and I am sure that is how bitcoin is going to be considered and I won't be surprised if the bigger players in the industry are already eyeing it and trying to fool everyone into not believing in bitcoin, so they can have the best of it at a much lower value. Time obviously will tell us who is wrong or who is right.

coinplus

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Quote from: Theb on June 27, 2018, 12:32:22 PM

The simple answer is No. Bitcoin won't be counted as a safe have for your money or any other cryptocurrency in that matter. Come one guys it is the recession, unemployment is up and profits are down, the only way to compensate their need for money is of course liquidating their assets and cryptocurrencies being more liquid compared to real estate, I think cryptocurrencies is are the first one to fall. I maybe wrong but more liquid assets tends to changes more as they are easily sold unlike real estates and other immovable properties. Bottom line is no asset is safe during the recession, but this could be everyone's opportunity to catch something at a cheap price.

Well, you may have some point there but have you not imagined the fact that since bitcoin is deflationary and which makes it a possibility of the fact that it is a new technology, the institutions may want to take good advantage of it to store up value and once that is done, we all know obviously the value will get driven up and then we get to see others trying to pop in to survive.

Looking at the way things have turned out over the years, I feel this look more like something that is more possible than seeing the value of bitcoin get tapped down but like you said, any of us may be wrong until we get to see how things actually turn out.

Crypdon

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It depends on which country the recession is in. For the USA it won't make much difference because the USD is a strong currency. However, in countries like venezuela bitcoin is more useful during a recession as their currency is too weak

bitgolden

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Honestly I have never seen from this point of view. I have always tough keeping bitcoin down was easier for whales and their contracts so they kept it low and made bank, never considered the fact that people needed liquid assets to keep living during times of recession.

It is true that we will need a better coin but its not about the tech improving as much as having a lot of users. Bitcoin has a lot of users, I mean A LOT compared to other coins, you can create a coin so perfect that it will never be surpassed but it will still take a lot of time to get as many users as you can to reach the bitcoin levels. It is not as easy as it sounds to do so.

StarofBTC

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Quote from: pivxmen on June 27, 2018, 12:36:30 PM

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

It means you are not satisfied with bitcoin. Anyway this is nature of human that it never gets satisfied from single element. Its choice always be changing on and on. So you can’t just assume the end of happiness at any moment either it is anything extraordinary to achieve as well. Likewise in bitcoin world, now having such amazing coin, people are looking for a bigger and smarter coin.

MNDan

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Quote from: pivxmen on June 27, 2018, 12:36:30 PM

I do not think so. the more advanced technology will create a better coin and superior among coin or token that already exists. everyone needs better coin and long term prospects.

This sounds really logic, because all over the world we are facing those rules: Something is developed and every next version of that would be more developed more secure and better than in a past.

nl247

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Quote from: vlad230 on June 28, 2018, 04:47:46 AM

I think that if there's going to be a recession, Bitcoin will take a big hit too.

I would see a lot of people making withdrawals to be able to pay for stuff with FIAT. Usually, when there's a recession, everybody gets hurt and with the volatility of the crypto market, I think it will be the first one to be hit hard.

Pay for stuff with fiat? Are you serious? In the case of recession, fiat is crumbling, everyone is trying to look for an asset that would obviously be increasing in value and it is actually how we perceive the space that counts.

What most of the people who keep saying bitcoin will take a hit too do not understand is that, it all depends on how we all perceive bitcoin, and since it is a deflationary currency anyway and as long as people see it as a digital asset, what makes us not to think, the idea of fiat being dumped for the next possible asset even though digital could actually be in play.

I know none of us can really tell what could happen, but this seems more of a possibility to me and since fiat is taking the hit anyway, I would rather try to pick the digital space as one of my safe havens during recession. At least, better than the big financial players and insitutions beating me to it, as most of you who keep thinking it may take a hit, may just actually end up getting in at a huge price.

sunsilk

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If the time of recession comes, bitcoin can also be affected by it. We cant tell it on how it will go now until we see it happening.

Not all of these people that wanted to avoid the recession will choose bitcoin as their #1 option.

Traditional investors will still choose and say that gold and silver assets are going to be safer than bitcoin if they know how volatile crypto's are.

upsidedown75

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Quote from: Don Pedro Dinero on June 26, 2018, 03:05:05 AM

That’s what most of us expect. During recessions people spend their money on “safe” assets, like gold, and bitcoin is said to be gold 2.0. I think it is likely that a recession will be a big boost for bitcoin but we can’t leave out the possibility that people will buy other types of “safe” assets for some reason and not bitcoin.

Yeah, over time and with the way things are going, I expect that a time will come when instead of gold, a lot of people and investors will see this space as the best spot for them to at least store value.

In the case where fiats are losing it and the recession is in play, it is normal to see investors trying to see what they can hold in most cases and this is the reason why some physical assets like gold always get to hit a boom during these periods and that is one thing to expect would happen in the case of bitcoin.

Dudeperfect

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To be honest, it is still unclear that how the market will respond to correction but if there is any pressure from the government or legal institutions then naturally people will prefer using cryptocurrencies in such case to defend their money. Even though crypto is a volatile market, it is still might be better to hold money in crypto if there is no guarantee from the government to safeguard our money.

* Greece Seizes 500,000 Bank Accounts worth Euro 1.6 Bln, Escape With Bitcoin.

Topic: Recession and Bitcoin (Read 502 times)