I guess it will take a couple of crises for folks to believe in Bitcoin than gold.
A lot of institutes are running for bitcoin, it would be fascinating to see how this turns out. I am sure they have a good economist to back the decision.
Topic: What will happen to Bitcoin if there is a global economic crash? - page 12. (Read 2766 times)
November 01, 2018, 04:22:23 PM
November 01, 2018, 01:58:14 PM
the primary objective of satomoshi's bitcoin is to provide relief to investors in times of economy crisis, so bitcoin was programmed to survive economic crisis, the victim of economic melt down are always the fiat dependent individuals, bitcoin is an electric method of transactions.
November 01, 2018, 01:57:44 PM
If you look back in the past you will see that Bitcoin was made in the period of world economic crisis as a kind of alternative.
The new economic crash will happen, that is inevitable and it happens from time to time in sort of cycles. But this will not influence Bitcoin because it's not incorporated in fornal economic system. In fact, if such crysis happens people will turn to Bitcoin as an alternative that could help them to get out of crisis.
I am sure that it will be after the next crisis that Bitcoin will start to cost much more than gold and then many will start using Bitcoin as an alternative to save their capital.But I don’t agree with you on one thing. Digital currencies and Bitcoins in particular depend very much on the traditional market. This is a fact that should not be denied. The new economic crash will happen, that is inevitable and it happens from time to time in sort of cycles. But this will not influence Bitcoin because it's not incorporated in fornal economic system. In fact, if such crysis happens people will turn to Bitcoin as an alternative that could help them to get out of crisis.
November 01, 2018, 01:36:28 PM
I think that now the economies are very strong so the new crash is not expected in these days while in the future if they have a very bad luck that would be something else and in near future bitcoin will contribute much to the economy like it will be used for charity for payments to the shops and service providers and it can be started for payroll too so this will be a good tool in the economic development of the world.
November 01, 2018, 01:32:15 PM
It is a bit hard to figure out what will really happen to Bitcoin price.
We could find an answer if someone could stitch these together.
What do you guys think will happen and why?
I think people will see bitcoin as an alternative to escape global economic crash if it happen because bitcoin was created as means for us to escape economic and financial systems crash down. Besides, if have saw an occasion when the economic are facing challenges and bitcoin was bullish. We could find an answer if someone could stitch these together.
- Gold price when crisis happen
- China's economy is already in a bear market for a long time, will they see a bull?
- World economy just hit an all-time high
- Crypto has not seen a 10yr cycle yet
- Satoshi started Bitcoin to avoid melt-downs
What do you guys think will happen and why?
November 01, 2018, 01:29:51 PM
What happened? I don't think it will have a big effect on bitcoin because bitcoin is decentralized, bitcoin is not held by anyone, all who hold bitcoin are moving where bitcoin should go, even bitcoin can soar in the economic crisis
November 01, 2018, 12:16:00 PM
I think that Bitcoin's price will go through the roof in case of a crisis. Fiat money will lose value and people will look for alternatives. Usually these alternatives were commodities but now there's a new emerging class: cryptocurrencies. We'll have to wait for the crash to happen to see what the world will do, but my gut tells me that crypto has not seen a real bubble yet.
November 01, 2018, 12:07:58 PM
*snip*
Always two sides, eh? But yeah, I'm also inclined to believe that people will throw their money on bitcoin and other crypto should an economic crash occur. While there are doubts on bitcoin's ability to hold value, still the performance of bitcoin for the past 9 or so years testify that it is indeed capable of being a trusty asset that also has its own cycles, just like your conventional asset within the traditional financial markets. Still though, there aren't any guarantees that it will be just like what we projected in here knowing that there are still other assets to move their funds to in the midst of a crisis (precious metals, lol).
Yeah. Of course having 2 sides is really common, but when talking about opinions from people in the crypto space? I expect probably 95% to be leaning on the "money will flow into cryptocurrencies" side. But it was pretty much probably 60-40 in favor of the first bullet. It was a lot closer than I though. But yea, the data I had wasn't big so that's definitely a big factor there.[/list]
November 01, 2018, 12:06:28 PM
It is difficult to predict what will happen with Bitcoin in fact. And the problem is not in Bitcoin, but in people. In a stressful situation, people often behave impulsively and inadequately. Bitcoin is a so-called risky asset, and in theory it will start to get rid of it in the first place. Here, of course, I do not mean ordinary people, but large institutional funds or large investors of which are many now. Perhaps, I was mistaken, and everything will be just the opposite, and Bitcoin, like gold, will be more expensive in relation to all currencies. It is difficult to predict what can be.
November 01, 2018, 11:55:16 AM
I was also curious about this topic, as a lot of economists have been saying that we are long overdue for a economic crisis in the United States.
So, based on my brief research a few days ago, there are 2 opinions I frequently read:
I personally am leaning more on the first one, but I'm still having second thoughts. I'm not an economic expect to start with. Which is the right one? I really don't know. It's up to you to decide.
So, based on my brief research a few days ago, there are 2 opinions I frequently read:
- Some say thay money will flow into cryptocurrencies. Why? Because people will be putting their money on a scarce asset, and also on something that can be easily bought and easily accessible(probably via Coinbase or something).
- Some say thay money will NOT flow into cryptocurrencies. Why? Because people wouldn't want to move their money on something riskier and more volatile. Also knowing that people had a bad impression of bitcoin and cryptocurrencies in general when it crashed on January 2018.
I personally am leaning more on the first one, but I'm still having second thoughts. I'm not an economic expect to start with. Which is the right one? I really don't know. It's up to you to decide.
Always two sides, eh? But yeah, I'm also inclined to believe that people will throw their money on bitcoin and other crypto should an economic crash occur. While there are doubts on bitcoin's ability to hold value, still the performance of bitcoin for the past 9 or so years testify that it is indeed capable of being a trusty asset that also has its own cycles, just like your conventional asset within the traditional financial markets. Still though, there aren't any guarantees that it will be just like what we projected in here knowing that there are still other assets to move their funds to in the midst of a crisis (precious metals, lol).
November 01, 2018, 11:29:00 AM
I was also curious about this topic, as a lot of economists have been saying that we are long overdue for a economic crisis in the United States.
So, based on my brief research a few days ago, there are 2 opinions I frequently read:
I personally am leaning more on the first one, but I'm still having second thoughts. I'm not an economic expect to start with. Which is the right one? I really don't know. It's up to you to decide.
So, based on my brief research a few days ago, there are 2 opinions I frequently read:
- Some say thay money will flow into cryptocurrencies. Why? Because people will be putting their money on a scarce asset, and also on something that can be easily bought and easily accessible(probably via Coinbase or something).
- Some say thay money will NOT flow into cryptocurrencies. Why? Because people wouldn't want to move their money on something riskier and more volatile. Also knowing that people had a bad impression of bitcoin and cryptocurrencies in general when it crashed on January 2018.
I personally am leaning more on the first one, but I'm still having second thoughts. I'm not an economic expect to start with. Which is the right one? I really don't know. It's up to you to decide.
November 01, 2018, 11:28:01 AM
Satoshi started bitcoin to prevent melt-down 
that one made me laugh, What kind of a melt-down could a currency or system capable of 10 transactions per second prevent exactly?
that one made me laugh, What kind of a melt-down could a currency or system capable of 10 transactions per second prevent exactly? November 01, 2018, 11:11:35 AM
what will happen is
yea bitcoin could rise to be $1trill per coin..
but that $1trill may also only buy a loaf of bread 5 minutes ago..
wait.
now its a slice..
dang it i cant write fast enough now its a crumb..
in short. the "price" becomes meaningless because once you convert it to $ the amount of good bought with it are crumbs.
what then develops is people just dropping $ prices and instead measuring bitcoin direct to minimum wage/cost of living and form stabilised living utility of bitcoin to life and just ignore fiat completely.... which is something bitcoin should have done years ago anyway
So essentially what happens in Venezuela where the coin is used directly because their own currency is so devalued and fucked. yea bitcoin could rise to be $1trill per coin..
but that $1trill may also only buy a loaf of bread 5 minutes ago..
wait.
now its a slice..
dang it i cant write fast enough now its a crumb..
in short. the "price" becomes meaningless because once you convert it to $ the amount of good bought with it are crumbs.
what then develops is people just dropping $ prices and instead measuring bitcoin direct to minimum wage/cost of living and form stabilised living utility of bitcoin to life and just ignore fiat completely.... which is something bitcoin should have done years ago anyway
November 01, 2018, 11:19:30 AM
In my opinion, the economic crisis could really benefit bitcoin. Economic crisis happens from time to time and the last one was in 2008. It has been 10 years now.
People have evolved so much in the course of time. People are more knowledgeable now and if in the duration of the economic crisis if people loose the trust on banks and fiat currencies then bitcoin could really be a life saver at that time. Obviously people won't be able to make their daily payments through bitcoin since BTC has not been widely adopted yet but it could be a new beginning to the saga of BTC.
People have evolved so much in the course of time. People are more knowledgeable now and if in the duration of the economic crisis if people loose the trust on banks and fiat currencies then bitcoin could really be a life saver at that time. Obviously people won't be able to make their daily payments through bitcoin since BTC has not been widely adopted yet but it could be a new beginning to the saga of BTC.
November 01, 2018, 11:09:26 AM
Bitcoin is only used as an alternative payment if the world is facing a crisis, for the price of bitcoin no one can predict accurately. what the price of bitcoin is in the future, which is sure bitcoin will rise. We know through the whitepaper that bitcoin was created as a form of protest against manipulations created by the central bank, so that if everyone believes in the technology behind bitcoin then bitcoin is one way to suppress a country's crisis.
November 01, 2018, 10:47:44 AM
It is a bit hard to figure out what will really happen to Bitcoin price.
We could find an answer if someone could stitch these together.
What do you guys think will happen and why?
We could find an answer if someone could stitch these together.
- Gold price when crisis happen
- China's economy is already in a bear market for a long time, will they see a bull?
- World economy just hit an all-time high
- Crypto has not seen a 10yr cycle yet
- Satoshi started Bitcoin to avoid melt-downs
What do you guys think will happen and why?
I don't usually know of these but I do know when that happens all things and valuable things will be so expensive and a lot of people will be in a lot of trouble.
November 01, 2018, 10:42:56 AM
I think there is nothing impact from global economic crash to Bitcoin price. Bitcoin is decentralized and the price is mostly influenced by the panic selling or coin holder itself. As long as the holders and investor is not becoming panic for this situation, bitcoin price will be on the track. On the contrary, if the holders are influenced by the global economic crash, bitcoin will potentially drop.
So, it doesn't immediately impact or affect to Bitcoin.
So, it doesn't immediately impact or affect to Bitcoin.
November 01, 2018, 10:18:17 AM
what will happen is
yea bitcoin could rise to be $1trill per coin..
but that $1trill may also only buy a loaf of bread 5 minutes ago..
wait.
now its a slice..
dang it i cant write fast enough now its a crumb..
in short. the "price" becomes meaningless because once you convert it to $ the amount of good bought with it are crumbs.
what then develops is people just dropping $ prices and instead measuring bitcoin direct to minimum wage/cost of living and form stabilised living utility of bitcoin to life and just ignore fiat completely.... which is something bitcoin should have done years ago anyway
yea bitcoin could rise to be $1trill per coin..
but that $1trill may also only buy a loaf of bread 5 minutes ago..
wait.
now its a slice..
dang it i cant write fast enough now its a crumb..
in short. the "price" becomes meaningless because once you convert it to $ the amount of good bought with it are crumbs.
what then develops is people just dropping $ prices and instead measuring bitcoin direct to minimum wage/cost of living and form stabilised living utility of bitcoin to life and just ignore fiat completely.... which is something bitcoin should have done years ago anyway
November 01, 2018, 08:23:08 AM
I do not want to be funny, but if the Banks are to be blamed, the government will jump in with Bailouts to help them with tax payers money. They have done this several times before and they will do it again.
Bitcoin will also take a massive hit, if this happens. A lot of short-term speculators are still invested in Bitcoin and they will quickly do a cut and run, if everything goes down around them.
The long-term investors will just continue hoarding.
Bitcoin will also take a massive hit, if this happens. A lot of short-term speculators are still invested in Bitcoin and they will quickly do a cut and run, if everything goes down around them.
The long-term investors will just continue hoarding.
November 01, 2018, 07:52:47 AM
If you look back in the past you will see that Bitcoin was made in the period of world economic crisis as a kind of alternative.
The new economic crash will happen, that is inevitable and it happens from time to time in sort of cycles. But this will not influence Bitcoin because it's not incorporated in fornal economic system. In fact, if such crysis happens people will turn to Bitcoin as an alternative that could help them to get out of crisis.
The new economic crash will happen, that is inevitable and it happens from time to time in sort of cycles. But this will not influence Bitcoin because it's not incorporated in fornal economic system. In fact, if such crysis happens people will turn to Bitcoin as an alternative that could help them to get out of crisis.
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