Topic: US economy expected to crash, time to buy bitcoin - page 3. (Read 3669 times)
Keep santa safe.
If there is a true economic collapse Bitcoins will mean nothing...
People will switch to the barter/trading system for goods/services.
Food, Shelter, Medicine and Self Protection will be valued the most.
Economic collapse worse than the great depression as many predict. Sure, the most valuable assets will be food, fuel, ammo, and crypto. 
Governments are also there by consent of the people. If they fuck up and crash the economy while people have a choice of currency, the consent will be withdrawn. There's a revolution taking place...each little hub of society is revolting in some form or another...they're not using guns and war, they're using technology and social networking on a global scale and gradually removing their consent to be governed.
It's gonna be a very, very different world 6-10 years from now...
It's gonna be a very, very different world 6-10 years from now...
Not so soon, the governments are there for a reason
Unless they *agree* to continue using it, which is where its value comes from, which is the point of its existence - to protect from the other currency being devalued to the point of a crash...
We already *agree* that one piece of paper with a 1 on it is worth a dollar and a 20 on it is worth 20. Our agreement to use it at all is the only reason it's exchangeable for goods and services.
The thing you're leaving out is that people dumping investments in a crash is because they only have one option. Nobody can spend foreign currency here (or elsewhere) outside the exchange. I can't take a peso to the laundromat.
The next crash of the dollar will be catastrophic for this country and others still clinging to it as a reserve *because* there is no other option, they don't have a choice and when the Titanic sinks, so do they.
Bitcoin is the alternative...and because it's established itself as a currency with value (i.e. all the people who agree to trade it for goods and services), it's a strong secure buffer to put their money into. Even if fiat decreases value, they'd be more inclined to exchange it for the currency with holding value and rising value...the equivalent of the lifeboat the comes along and saves the ones willing to make the jump off the sinking ship.
Nobody had a choice in 2007-2008 when the US treasury was robbed by the FED and banking cartel and wall street criminals.
A year later, someone provided a choice and 5 more years later, here we are, growing businesses and investors *agreeing* that bitcoin value is worth a ton more than fiat value.
I can easily see a time when bitcoin becomes the world's reserve currency and that would bring back real competition and industry in the world.
We already *agree* that one piece of paper with a 1 on it is worth a dollar and a 20 on it is worth 20. Our agreement to use it at all is the only reason it's exchangeable for goods and services.
The thing you're leaving out is that people dumping investments in a crash is because they only have one option. Nobody can spend foreign currency here (or elsewhere) outside the exchange. I can't take a peso to the laundromat.
The next crash of the dollar will be catastrophic for this country and others still clinging to it as a reserve *because* there is no other option, they don't have a choice and when the Titanic sinks, so do they.
Bitcoin is the alternative...and because it's established itself as a currency with value (i.e. all the people who agree to trade it for goods and services), it's a strong secure buffer to put their money into. Even if fiat decreases value, they'd be more inclined to exchange it for the currency with holding value and rising value...the equivalent of the lifeboat the comes along and saves the ones willing to make the jump off the sinking ship.
Nobody had a choice in 2007-2008 when the US treasury was robbed by the FED and banking cartel and wall street criminals.
A year later, someone provided a choice and 5 more years later, here we are, growing businesses and investors *agreeing* that bitcoin value is worth a ton more than fiat value.
I can easily see a time when bitcoin becomes the world's reserve currency and that would bring back real competition and industry in the world.
Bitcoin is a speculative investment, and most speculative investments get dumped during major economic crashes. Since bitcoin is so young and hasn't been around any major financial crash (09-13 was a global bull market) it has given some the delusion that it is economic crash resistant, but it likely isn't.
Check out this article:
Quote
http://signup.moneymorning.com/X304Q318
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his frightening warning to investors in a recent interview on CCTV.
"The problem with politicians is they don't want to level with the voters and tell them how bad the economy really is and what the cure for the disease is," Schiff said.
The "disease" Schiff refers to is a toxic combination of our massive $16.4 trillion debt and the Fed's continued devaluing of the dollar through its controversial 7-year long "easing" program.
...
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his frightening warning to investors in a recent interview on CCTV.
"The problem with politicians is they don't want to level with the voters and tell them how bad the economy really is and what the cure for the disease is," Schiff said.
The "disease" Schiff refers to is a toxic combination of our massive $16.4 trillion debt and the Fed's continued devaluing of the dollar through its controversial 7-year long "easing" program.
...
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