Topic: Stance on bitcoin's effect towards the Global Economy (Read 673 times)

And with that will come cheap prices to buy crypto too

If that happens then we might revisit the three digit price charts. But thats not happening right away and at that time buyers would be less considering everyone to put their money in saving up costs and buying more of the bare necessities of life than speculate on a less known currency

If we will see something like the Great Depression revisited, crypto is going to bite the dust. Indeed, Bitcoin is not going to die but what kind of life will that be?

Most people are investing in cryptocurrencies with purely speculative purposes in mind, but if things start to fall apart, everyone and his grandma will be trying to sell out their cryptocurrency stashes to get some cash on hand as it always happens in situations of great economic distress.

And most importantly, how is crypto going to come out of this?

It is really impossible for bitcoin to affect the global economy. This industry is like less percent of the industries we have in the globe. It might affect the economy. War is the main cause of global economic depression. So we need to do our best to avoid it to happen.  recension is very impossible if we are talking about cryptocurrency. Bitcoin is also at its early stage and still not yet developed to make an impact on our global economy.

Also, the fact the government is trying to regulate the industry and other crypto business sector. Since the Bitcoin's price went high because they think that it is all about Money Laundry, they were able to avoid the threat by regulating it. I wonder how many whales are crying when they knew the regulation.

People who control the economics are trying to hide the truth of recession with band-aid/short term and not actually the solution so people wouldn't notice it.

Indeed, Bitcoin has nothing to do with the GDP. Bitcoin is like the 0.000000000000001 x the power of 10 part of the economy. Depression will soon be there so the only choice we have to get ready with the possibility and do not save but hedge instead.

It is really impossible for bitcoin to affect the global economy. This industry is like less percent of the industries we have in the globe. It might affect the economy. War is the main cause of global economic depression. So we need to do our best to avoid it to happen.  recension is very impossible if we are talking about cryptocurrency. Bitcoin is also at its early stage and still not yet developed to make an impact on our global economy.

Also, the fact the government is trying to regulate the industry and other crypto business sector. Since the Bitcoin's price went high because they think that it is all about Money Laundry, they were able to avoid the threat by regulating it. I wonder how many whales are crying when they knew the regulation.

Nobody can deny that bitcoin has changed some things, just to give an example if your bank is a horrible shady bank at least bitcoin offered an alternative to it, if your nation is a bad one (in financial terms) you could buy bitcoins to get away from impending devaluation. Many many reasons why bitcoin became an alternative to people and changed their lives.

However, global economy is just too huge, and I mean really huge, bitcoin could be bigger in market value than some of the worlds smallest nations treasury for example but when you talk about "global" it becomes something even bigger, it becomes a real big gap between where bitcoin is right now and where global economy is at. Of course it has a role in it now, nobody can say bitcoin is nothing but we still have a long way to go as well.

I think bitcoin's role is very important in times of economic crisis.

Have you seen the similarity between bitcoin and gold?

even here we can dep our bitcoins on exchanges and trade freely, not bound by anything. The market is always active so many people are now looking to buy more bitcoin to prepare for the upcoming economic downturn.

And for bitcoin, it is going to be relevant in the since that, people will throw their money into it to safe guard it. So this will rise the price of bitcoin in such era or decade.

It is true that some countries are slowly but surely sinking into recession, but they still call it "a technical recession" (Italy), and another obvious example in the EU is Germany which reportedly escaped the recession with a meager growth of just 0.1% in third quarter, and as I said before, it barely hangs above the surface of the water.

The countries you mention (Venezuela, Zimbabwe) have always been in trouble, and the combination of internal political crises, sanctions and a slowdown in the world economy have only worsened the situation in these countries. It is my opinion that the USA could again be the trigger for a possible new global recession, the same as it was in 1929 or 2008. But at the same time S&P 500 Hits Record High, Boosted By Trade Progress And Strong Earnings which shows that things are not exactly what they seem, at least for the USA.

No one can say for sure what will happen to BTC in the event of a major global economic crisis, but the fact is that the whole thing is vulnerable in terms of infrastructure, and by that I mean crypto exchanges that are actually completely under the government's control. They can not kill BTC, but there is always an option to declare it illegal. I don't think that's a realistic option at this point, the total crypto market is actually pretty insignificant (less than $250 billion).

Where'd you get the info on the world being in a recession for years now? If you're talking about our debt, and things like that that's one thing, but the economy is growing and isn't in a recession right now.

Recession (Defined by Google) - a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

People are always going to be talking about another recession when one happens. We've heard that another recession is coming for every year since 2008, and we're now in 2020 and there are no signs of a recession. The only talking points among people who think one is coming point to the China Trade Deal, other trade deal issues, etc.

Literally for the past 12 years, people have been hitting the alarm bells and saying that the RECESSION IS COMING and how you should pull your money out of your investments and such, people don't understand that in the traditional investments of stocks and bonds and all that you're going to be unable to time the market. Though I must say, a lot of this comes from my interest in traditional banking as well, so yeah.

But I do think that Crypto is going to be a force, but it's going to have to make itself EASY for people. The fiat on ramps have to be easy to work with, people have to have wallets that aren't hard to use, there has to be a USECASE for them, and things along those lines. We can't all just be speculating on Crypto going up, that doesn't help anyone and it doesn't improve adoption.

I think Bitcoin gives an opportunity for us to control our own finances rather than relying or companies or the government as much as we have in the past.  It's only going to get better as Bitcoin becomes accepted more.

I have said this before, and I will say it again, the existence of bitcoin or crypto alone won't help a failing economy. Nonetheless, given how the whole World is going through a recession for years now, and also living in widespread ignorance that recession isn't here yet, rather, its coming in the near future. The World is at its brink of an economic collapse, the global debt is increasing by the day, AND we are, or at least we were almost on the verge of another World War, and 2020 just hasn't gotten to a very solid start people were expecting.

With that said, I wanna hear constructive opinions/predictions/speculations, on how things are gonna end up by the end of this year, and this decade. How is the GDP gonna get affected by everything happening, how are countries going to survive recession, and what is to say that we won't suffer through the Great Depression Phase 2? And most importantly, how is crypto going to come out of this?  

Edit: I forgot to self-mod this topic, so if you spam, I will report you, and get the post deleted.