The next financial crisis and Bitcoin - page 3.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: qiwoman2 on September 24, 2016, 01:50:47 AM

I do believe that Bitcoin can help alleviate the problems presented by the fractional reserve banking system and corrupt governance but it will take a lot of will from the ordinary folks world wide to wake up to the biggest ponzi of the corporate elite agenda and try something new - like Bitcoin. It's all about educating the masses to other alternative economic systems than what they are used to.

Yeah it is all about educating the people about the advantages of Bitcoin and cryptocurrency technology over the current system. But it would also be wise to point out some disadvantages as well and then let them decide if they still want to use it or not. I am all for evangelizing crypto but let us not get carried away into preaching that we have found the light and the rest are still cloaked in darkness.

Also it is funny that you mention that the current banking system is a ponzi of the corporate elite because the mainstream see Bitcoin as one too. Education is the way to go forward and show them who's who and what's what.

Fraxinus

legendary

Activity: 1274

Merit: 1000

Quote from: Yakamoto on September 25, 2016, 01:14:09 AM

Quote from: Fraxinus on September 25, 2016, 12:58:42 AM

Quote from: Yakamoto on September 25, 2016, 12:17:11 AM

Quote from: Wind_FURY on September 23, 2016, 11:23:22 PM

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

A big issue with having Bitcoin and the financial crisis in a comparison/discussion is that we have no idea, really, if we're going to see a lot of people taking interest with Bitcoin after the financial collapse wraps up. For a traditional financial collapse raw-er resources such as gold, silver, and other valuable things that are tangible and can be used have more value than intangibles, however something like Bitcoin is new and untested and could be worth a lot after a collapse.

I believe in every crisis people will actually turn to BTC and BTC will grow in popularity

Only if it can prove itself. It will have to prove itself in the next upcoming collapse and that will set the precedent for Bitcoin in every collapse thereafter. It has to be able to maintain its purchasing power and keep the community safe and weather the storm from the collapsing markets. If it can do that, it will have effectively proven itself and it will be something people will turn to in the future. If it just collapses along with everything else, a lot of normal people will write it off.

BTC has to be a somewhat safe zone and a place where people can turn to when a crisis happens.That's why BTC has to remain its stability so people can easily recognise it as a replacemenf ot the currencies

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: Fraxinus on September 25, 2016, 12:58:42 AM

Quote from: Yakamoto on September 25, 2016, 12:17:11 AM

Quote from: Wind_FURY on September 23, 2016, 11:23:22 PM

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

A big issue with having Bitcoin and the financial crisis in a comparison/discussion is that we have no idea, really, if we're going to see a lot of people taking interest with Bitcoin after the financial collapse wraps up. For a traditional financial collapse raw-er resources such as gold, silver, and other valuable things that are tangible and can be used have more value than intangibles, however something like Bitcoin is new and untested and could be worth a lot after a collapse.

I believe in every crisis people will actually turn to BTC and BTC will grow in popularity

Only if it can prove itself. It will have to prove itself in the next upcoming collapse and that will set the precedent for Bitcoin in every collapse thereafter. It has to be able to maintain its purchasing power and keep the community safe and weather the storm from the collapsing markets. If it can do that, it will have effectively proven itself and it will be something people will turn to in the future. If it just collapses along with everything else, a lot of normal people will write it off.

MingLee

hero member

Activity: 490

Merit: 520

I personally think that there might be some potential for something like Bitcoin to grow during the next financial crisis, but there is going to have to be a push during the initial "death spiral" to get people investing in Bitcoin and get more people looking to it as a source of value. If that can be done, there would be a lot of growth potential for Bitcoin in a short amount of time. Whether or not that potential can be realized, though, is a whole different manner.

Fraxinus

legendary

Activity: 1274

Merit: 1000

Quote from: Yakamoto on September 25, 2016, 12:17:11 AM

Quote from: Wind_FURY on September 23, 2016, 11:23:22 PM

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

A big issue with having Bitcoin and the financial crisis in a comparison/discussion is that we have no idea, really, if we're going to see a lot of people taking interest with Bitcoin after the financial collapse wraps up. For a traditional financial collapse raw-er resources such as gold, silver, and other valuable things that are tangible and can be used have more value than intangibles, however something like Bitcoin is new and untested and could be worth a lot after a collapse.

I believe in every crisis people will actually turn to BTC and BTC will grow in popularity

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: Wind_FURY on September 23, 2016, 11:23:22 PM

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

A big issue with having Bitcoin and the financial crisis in a comparison/discussion is that we have no idea, really, if we're going to see a lot of people taking interest with Bitcoin after the financial collapse wraps up. For a traditional financial collapse raw-er resources such as gold, silver, and other valuable things that are tangible and can be used have more value than intangibles, however something like Bitcoin is new and untested and could be worth a lot after a collapse.

Vinz24

full member

Activity: 182

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

I cant see the price of bitcoin will go down as far as $200. If a crisis happen in the economy of a country, I think the price will just go up. Like what happen to China months ago. Bitcoin price will go down if a hacking a happens to a companies that uses bitcoins.

isildur1

member

Activity: 89

Merit: 10

https://www.youtube.com/channel/UCFZEGJo43fObLP1GV

It could go either way. People may be willing to invest in bitcoin as its seen as a relatively safe investment. It has alot more value now then paper money. But if paper money diminishes no one will have paper money to buy bitcoin.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Bitcoin is free of influence of banks but I think there are some other interests group who do manipulate the price in a way (like whales). If the new crisis comes relatively soon I'm not sure that Bitcoin could be the solution because it's stil not embeded and stable enough to handle this and the big number of Bitcoin users are stil mainly relatively young and economicaly unexperienced.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Quote from: Doamader on September 24, 2016, 05:24:52 PM

If the world face another crisis on the next year bitcoins should get stronger has it doesnt have any connection with banks and countries, sure the transactions of buy and sell would dump a bit in volume, but the price should get bigger.

You may be correct here, if ever this crisis happen there is also a significant effect on bitcoin. People are also investing here and it is gaining popularity. People will intend pr prefer to encash and surely will affect the bitcoin price.

The Sceptical Chymist

legendary

Activity: 3528

Merit: 7005

Top Crypto Casino

I would have thought it'd take more than a year for bitcoin to be developed, no? I haven't read the white paper. If that's the case, I can't see how the 2008 crisis would have influenced its creation. Still, I agree that if a financial disaster does it, bitcoin is certainly going to get tested. But my guess is that people are going to be fleeing to stable foreign currencies and metals, just like what always happens when shit melts down.

European Central Bank

legendary

Activity: 1288

Merit: 1087

if there's a financial crisis soon, it's way too early for bitcoin to be anything other than flattened. this is all nothing but speculation still. no one wants to speculate apart from the real pros. the bitcoin market is mainly made up of scared kiddies who run at any sign of panic. if it does survive then the one after the upcoming one is where we might see some real action.

Doamader

hero member

Activity: 756

Merit: 501

If the world face another crisis on the next year bitcoins should get stronger has it doesnt have any connection with banks and countries, sure the transactions of buy and sell would dump a bit in volume, but the price should get bigger.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Wind_FURY on September 23, 2016, 11:23:22 PM

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

Wtf, I remember you saying that Bitcoin will decidedly stay under $600 per coin. Now you seem to have changed your mind and suggest to keep hoarding bitcoins as much as we can? Does it mean that what you had been claiming before was total bullshit right from the start? Or will you suggest to drop our stashes as soon as possible in the next thread you kick off?

Peeps are watching, monkeys are listening

Fortify

legendary

Activity: 2688

Merit: 1192

A crisis could take down bitcoin tomorrow, while it is nice to have the blockchain as a list of historical transactions a security flaw could mean people loose all faith in it. Like any other currency, it only has value while people have trust in it. If people feel they can have their money wiped out, they will soon stop using it. It has been fairly resilient so far and if the mainstream markets crash, maybe it will inflate like gold did in the 2008 economic crisis.

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

I do believe that Bitcoin can help alleviate the problems presented by the fractional reserve banking system and corrupt governance but it will take a lot of will from the ordinary folks world wide to wake up to the biggest ponzi of the corporate elite agenda and try something new - like Bitcoin. It's all about educating the masses to other alternative economic systems than what they are used to.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

Topic: The next financial crisis and Bitcoin - page 3. (Read 2427 times)