With how you describe the "rush money" system, I don't think it will ever prosper on bitcoin knowing that the cryptocurrency is far from being a centralized system, and the exchanges doing the deals in trading cash to bitcoin are somewhat focused on profits more than having some power and keeping those coins on to their arsenal, not unless they are into some sort of exit scam of their thinking. Such crisis isn't really possible on a decentralized ecosystem, but on a centralized one, most especially banks, perhaps there could be a problem.
But seriously though, I still can't understand what "rush money" system exactly mean. Can someone post a link or something that falls exactly or somewhat close to what OP is saying? That would be an interesting read.
Topic: Rush money and BITCOIN - page 2. (Read 830 times)
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
with the rush of money that is a sign of economic chaos in a country, is that right? I do not know the rush of money, but if rush money is a sign like that, it will make a big impact on a country. the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
what happens if BTC make a Rush money system? or do you think that BTC never make Rush money?
Of course when the money rush happens to bitcoin it will cause a massive dump and this will be a big disaster like in 2018 where all the red markets.
In my country someone who invites a money rush to the bank will be punished because this action is very detrimental, yes sometimes this is linked to politics. But bitcoin does not have politics and is not central so it all depends on whales.
If a bank run happens in bitcoin, there is no controlling it. Every bitcoin owner has their rights to convert their bitcoin into any currency they want. So if there is a wide consensus to dump bitcoin, the price will suffer greatly. That is what is great and worse about bitcoin. Unlike in banks, if there is a bank run, the banks can simply restrict depositors from withdrawing their money. The depositors will suffer and the bank can direct the money elsewhere and declare bankrupt. Insurance will take care of the depositors up to a certain amount.
Rush money happens especially with paper money. You place your paper money in a bank and then you come to that bank to ask for the money that you gave them. If the bank does not have that money to gave you, this is rush money.
Everyone will come to that bank to withdraw the money that that they gave to that bank, but the bank does not have what money to gave back.
This could happen with Bitcoin if the Bitcoin network is attacked. This can happen if the internet disappears, this can happen if there is a 51% attack on the Bitcoin network (a company in this world produce at that moment 51% of the bitcoin and that company decides that bitcoin is not useful in the world)
Everyone will come to that bank to withdraw the money that that they gave to that bank, but the bank does not have what money to gave back.
This could happen with Bitcoin if the Bitcoin network is attacked. This can happen if the internet disappears, this can happen if there is a 51% attack on the Bitcoin network (a company in this world produce at that moment 51% of the bitcoin and that company decides that bitcoin is not useful in the world)
Rush money not only has a negative impact on the banking world but also on the customers themselves. To avoid losses, rush money can actually harm customers. Bitcoin is not like rush money. Long-term promising Bitcoin investment.
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
In what country are you located at? Never heard rush money as well. Is it like if someone is in panic mode, he will get his money from the bank, and then what? OP, can you elaborate further what you wanted to convey here, in relation with bitcoin?
Same here. I just that 'Rush Money' from OP. But I do have some idea now. If it is related to economic status of a particular country, how is it related with bitcoin? Seems vague for me until I've read this from steemit.
Quote from: steemit
Rush Money in this case is defined as taking money stored in banks simultaneously, as a form of mistrust of the community with the health condition of the bank or an unstable economy.
I just don't understand why are you so worried about rush money in bitcoin. In the first place, we are not under banks and we hold and keep our btcs in our wallets.
Quote
or do you think that BTC never make Rush money?
I don't think so. There is a big difference of rush money you are talking about. And we simply trust bitcoin. If we want to withdraw your btc, you can easily do that.
today. in my country spread information about Rush money system. The public concluded that Rush money was influenced by political factors. but on the other side. I think this is not just about politics. but this is proof that the public is bored with a centralized financial system. but I want to ask. what happens if BTC make a Rush money system? or do you think that BTC never make Rush money? share your knowledge here guys. !
Bitcoin will not give a rush money especially if you invest to it, takes time to make a profit. In crypto there's no rush money unlike to cash that you said. Bitcoin can't provide you a instant money or cash because it's not like you think that everything will be can rush. 
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
By this definition it looks like you are talking about "Capital flight" and "Bank rush"
Bitcoin has shown that it can help people in circumstances like this and we saw this in Greece and Zimbabwe when the Banking system buckle under the pressure. They simply close their doors and stop people from having access to their money.
This is where Bitcoin is better, because no centralized organization can stop you from having access to your money, if you using Bitcoin correctly.
As stated above in most economic downfall circumstances bitcoin have helped them big. Particularly this is where the usage of bitcoin on African countries began to increase high. For this banks too need to be decentralized same as our cryptocurrency.
today. in my country spread information about Rush money system. The public concluded that Rush money was influenced by political factors. but on the other side. I think this is not just about politics. but this is proof that the public is bored with a centralized financial system. but I want to ask. what happens if BTC make a Rush money system? or do you think that BTC never make Rush money? share your knowledge here guys. !
Never heard anything about the "rush money system". What country do you live in? Your other post that describes rush money does not make any sense. If people save up a lot of money, how would an inflation take place? It would be either deflation or nothing, but no way inflation will occur.Edit: My bad. I reread what you wrote. Yeah, if they start withdrawing loads of money from the bank ans starts spending, inflation will take place. But if they invest those money on bitcoin or other crypto currencies, inflation of the currency will still take place but the price of bitcoin will increase. Limited supply of bitcoin, price of bitcoin rising at a high rate thus accelerating the inflation of the country.
I did not really understand your words. What do you mean by Rush Money system? If we were to explain clearly, then we could have shared our knowledge well.
the Simple explanations is a way to destroy the world of banks in my country by the way all bank users withdraw every asset they save in the bank. do you understand? I hope you can explain this condition. and you have to compare it with BTC! Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
In what country are you located at? Never heard rush money as well. Is it like if someone is in panic mode, he will get his money from the bank, and then what? OP, can you elaborate further what you wanted to convey here, in relation with bitcoin?
I did not really understand your words. What do you mean by Rush Money system? If we were to explain clearly, then we could have shared our knowledge well.
I won't happen in bitcoin, there there are millions of money taken out of the marketcap. no one can decide whether BTC goes bankrupt because everyone owns BTC, all of us. IF the price of BTC goes below $10, it doesn't matter as its still money. As long as there will be bids there will be value of the coin. Non shall decide btc to be worthless.
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
By this definition it looks like you are talking about "Capital flight" and "Bank rush"
Bitcoin has shown that it can help people in circumstances like this and we saw this in Greece and Zimbabwe when the Banking system buckle under the pressure. They simply close their doors and stop people from having access to their money.
This is where Bitcoin is better, because no centralized organization can stop you from having access to your money, if you using Bitcoin correctly.
As stated above in most economic downfall circumstances bitcoin have helped them big. Particularly this is where the usage of bitcoin on African countries began to increase high. For this banks too need to be decentralized same as our cryptocurrency.
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
By this definition it looks like you are talking about "Capital flight" and "Bank rush"
Bitcoin has shown that it can help people in circumstances like this and we saw this in Greece and Zimbabwe when the Banking system buckle under the pressure. They simply close their doors and stop people from having access to their money.
This is where Bitcoin is better, because no centralized organization can stop you from having access to your money, if you using Bitcoin correctly.
Rush money will lead to problems of liquidity of banks and the financial system in your country as a whole, this is certainly not a good period, I passed this period in my life, when banks simply simply closed and people could not withdraw their savings because of this "rush money". Perhaps people will look for an alternative in the form of bitcoin or cryptocurrency.
In other words, you are asking if dumping just like the rush money system is possible to happen in bitcoin? as for bitcoin, a large amount is being taken from bitcoin wallets by the people and sells it to exchanges.
If my logic is correct with the definition you had given, this is actually happening. And that's what we call 'dump' which usually happens to the market when billions of money has been taken out from the total market cap of bitcoin. This also happens to alt coin market.
If my logic is correct with the definition you had given, this is actually happening. And that's what we call 'dump' which usually happens to the market when billions of money has been taken out from the total market cap of bitcoin. This also happens to alt coin market.
Rush money is part of the economic crisis. Rush money is a process when all people to take a large amount of money they save in a bank.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
the impact of the Rush money process is that global inflation. and the bank's financial system will be destroyed.
If the Rush Money definition were like that, it's like global masive dumping. if the certain system applies the Bitcoin price will drop to no value. this is like the alt coin price that goes into the exchange and the holders choose to sell, we often find alt coin prices that fall unworthy after crowdfunding because there is no demand.
A large liquidation in the Rush Money period causes economic inflation, however back to the country's gold reserve, if have a gold reserve, I'm sure it won't have much effect. because as far i know, gold should be an inflation assurance which has been approved by the world.
Haha, this is exactly showing the advantages of Bitcoin vs. the traditional banking system especially in a country where its banking system is not sound.
With Bitcoin, you have full control of your money and there is no such "rush money" in place.
With Bitcoin, you have full control of your money and there is no such "rush money" in place.
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