The collapse of the system | Bitcointalksearch.org

bitcon

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Quote from: gantez on August 25, 2019, 12:05:11 PM

If there is anything like financial crisis on fiat, I think the crypto ecosystem is already available to cushion whatever hardship that might come up. It won't be felt like in the past because monies are definitely going to be converted into fiat.

I can only guess that people will start investing money in cryptocurrencies, especially, Bitcoin. Some countries have already made it to protect people from poverty. Although, we must not forget that BTC is also connected to the USD (for most users), and if the dollar falls, it can happen that Bitcoin will go down after it.

To feel safe, now people invest in gold and antique things.

Darker45

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Quote from: Garylaba on August 25, 2019, 11:30:15 AM

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

The system will not collapse most probably. There will be serious crises but they do not mean a total collapse of the financial system. Our financial system is dynamic and constantly evolving. It adapts to changes along the way.

Since Bitcoin is treated as a safe haven for some investors, a sort of a hedge when the traditional financial market is at its highest level of uncertainty, there might be a significant growth of investment coming in. However, this might not apply to the rest of the cryptocurrency world. The altcoins might not share with the growth.

DigitalAssetInvestor1

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Bitcoin may go down during the initial sell off due to traders fleeing to usd but then will become a safe haven like gold when the usd begins to falter.

manok jepang

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Specifically, the global economic crisis also caused a slowdown in trade growth. In the previous five years trade growth averaged 8.1 percent. However, the figure immediately became 4.1 percent in 2008. This condition gave rise to crypto money like Bitcoin. Society wants there is another currency as an alternative. Banks that fail, will be the cause of systemic economic collapse. then using cryptocurrency money in my opinion can provide a conclusion if the financial system collapses.

lixer

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One of the reason why bitcoin was established is to have some sort of corrections to the lapses of the fiat system, and that is why it is said to be alternative, so in the event that the fiat system collapses, bitcoin can still be used, and this is the main reason why government needs to start considering the bitcoin payment system as really an alternatives because if the traditional financial system collapses now, what backup does government have? No back up or whatsoever.

I guess this is why the guru satoshi had to also put the system together with the anger has against the disorganized banking system, which is to help them reshape the banking system if they fully implement and adopt it, if financial system collapses now, only the crypto community will be exempted.

Duzter

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There was a big collapse during the year 2008, by that time countries that have the best financial plans didn't experienced a big blow. Same will be the scenario, as our market growth experience correction we're gonna experience some form of market correction. This turns to be a collapse on countries where the budgeting isn't done in the right way with precautions.

In this season the automobile industry is the one facing a big collapse, and the same directly reflects on the nation's economic development. Here bitcoin isn't gonna do anything in the market to get rid of the collapse, as it is independent of the world market it'll continue to grow as now with the regular fluctuations.

zviadits

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Already now it is clear that the crypto market is becoming an asylum for people which suffer losses due to the fall of the traditional financial system. Fortunately, the crypto market is more stable in relation to the problems of the economy, because here everything happens according to other rules. In my opinion, the collapse of the traditional financial system will strengthen the crypto market in particular Bitcoin many times.

arpon11

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Quote from: Garylaba on August 25, 2019, 11:30:15 AM

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

The cryptocurrency market will definitely going to provide solutions to the crisis. Bitcoin is discovered to provide an alternative for a time like this and we are not going to have more problems than what we have now. I believe that in some years to come bitcoin will be above $200,000 or $100,000 as far as we keep using it as a store of values like gold and commodities. Investors will diversify their investments to bitcoin from stock market.

MonsterV

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Quote from: Sexaphiliac on August 25, 2019, 01:49:50 PM

Well, a finiancial system has to be in existence. In the eventuality of the crash of existing financial systems, cryptocurrency at the very least will experience some form of speculative adoption as a means of transacting on a large scale. A very postive outcome for the cryptocurrency market could easily be expected everything else remaining equal.

Well it will be a real adoption when crisis is at highest point and not over. If crisis lasts only briefly, I think investors or holders will be more resistant to crisis situation. Sometimes they don't know whether crypto is able to save their funds or not, because not all investors are interested in crypto and they could run to gold.

Quote from: pooya87 on August 25, 2019, 10:48:18 PM

the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

Only shitcoin will collapse and not for te top altcoin, when bitcoin rises then altcoin will also be correlated even though altcoin was not interested at that time but influence bitcoin is still there. But what is clear is that bitcoin is safest from any crisis, and if you want to try a new designation I think altcoin can be a bet, because we do not know whether altcoin at that time was able to pump high or not.

btc_angela

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Quote from: Garylaba on August 25, 2019, 11:30:15 AM

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

If you are talking about crypto to be a hedge for financial crisis, I wouldn't say that bitcoin is the best bet out there. It's been touted as a store of value (SoV), so I wouldn't be surprised if we ever had a global crisis, bitcoin will be on top and the rest of alt coins market suddenly died down and collapse. Just look at the state of the alt coin, majority of them haven't recovered since 2017. So just imagine if the scenario you portraying are going to happen in the next coming years.

bkbirge

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Quote from: pooya87 on August 25, 2019, 10:48:18 PM

the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

I bet a lot of altcoins will die as you say but I envision the space more like a bunch of penny stocks and btc as the blue chip. There will be lots of traders that keep altcoins alive, and most will lose their shirts but some will become fabulously wealthy.

bkbirge

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Quote from: Jet Cash on August 25, 2019, 01:16:49 PM

The financial system won't collapse. It will be changed into a different system, with different controls to benefit the elite. There are already signs that they are closing the current system so that they can lose their debts, keep the assets they have obtained, and carry your debts over into the new system. You have to work out how they are doing it, and how you can benefit from the changes. One thing is certain, we are going to go into a period of substantial wealth transfer, just make sure you are on the right side of it.

This is a scary scenario. I think it is easier said than done to be on the right side of that equation.

pooya87

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the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

Reid

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My own opinion, hmmm. It will be a scapegoat.
Look at those rich people by now. They are getting wiser.
Investing in gold and other unique stones.
Now there is a problem. They also need something that can save their money in a faster way.
Bitcoin could be the answer to that.
I mean, if there will be a sudden fall in the financial market there should be something that can save them in just one click away.

But then, when everything is fixed, we know what will happen.

sunsilk

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People are learning today that bitcoin can be a safe haven and a great store of value so if that time comes and another crisis comes to the world. I guess that we're already going to see pressure from them saving the assets they have through converting it to bitcoin.

And I think many large players of the economy has prepared themselves if that comes.

fiulpro

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I think the basis of cryptocurrencies is getting the system collapsed ...if it is not doing good for the people .
Economy is going to collapse sooner or later .. but if we go according to the cryptocurrencies I think we can see a positive growth since we have examples where it served to be of great importance in times of crisis .. it actually helped a lot of people to get across and it actually overturned the government ..
I think this might be actually good .. the current system is not sustainable.

Sexaphiliac

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Well, a finiancial system has to be in existence. In the eventuality of the crash of existing financial systems, cryptocurrency at the very least will experience some form of speculative adoption as a means of transacting on a large scale. A very postive outcome for the cryptocurrency market could easily be expected everything else remaining equal.

spadormie

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The financial system will just improve and will not collapse. Look at what's happening now, with just a few taps on your phone, you can now pay your bills without any hassle. It's like a fire that was invented a long time ago and right now, the use of it just improve with the use of stoves. The idea of it didn't collapse but improved.

Currency using bitcoin in the world could be hard to implement since we need to consider a lot of things especially its volatility. Imagine your $10,000 will go down to $9,500 if the market goes down. Nobody would like it right?

Jet Cash

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The financial system won't collapse. It will be changed into a different system, with different controls to benefit the elite. There are already signs that they are closing the current system so that they can lose their debts, keep the assets they have obtained, and carry your debts over into the new system. You have to work out how they are doing it, and how you can benefit from the changes. One thing is certain, we are going to go into a period of substantial wealth transfer, just make sure you are on the right side of it.

FIFA worldcup

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Quote from: Garylaba on August 25, 2019, 11:30:15 AM

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

Every financial system faces a decline. The collapse of the fiat system is surely coming but no one exactly knows when.
Do you have any evidence or source which shows the correct prediction of this economic crisis ?

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