What will happen to Bitcoin if there is a global economic crash? - page 8.

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Quote from: ellehcar on December 29, 2018, 03:41:47 AM

If a global economic crash hits and bitcoin is the main payment mode at that time, of course, just like the fiat currencies which are currently the main mode of payment, it'll be affected. Its value will also condole with the economic crash because this depends on the demand and supply of conducting commerce.

But when individual countries were facing economically crisis, people are moving into bitcoin as bitcoin is completely independent of that country and bitcoin acted as safe asset for store of value. But, I'm not sure what will be happening when more countries will be facing recession. I believe even bitcoin prices will be impacted negatively, when more people will be switching over into bitcoin due to global economic crash, it will find positive progress in long term.

Quote from: ellehcar on December 29, 2018, 03:41:47 AM

If the commerce experiences recession and people are having hard days to buy and sell, this will surely impact the main medium of exchange (bitcoin per se at that time), which is the measure of value of the economy.

Yes, when people will be needing their money for their daily needs then how we can expect them to buy bitcoins. Money in-flow into bitcoin will get heavily impacted if global economic face a crash.

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bitcoin will help because the global economy is relied on real money or paper money so in my opinion bitcoin will replace all the current global economy and my advice is my choice is the best way and solution

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If a global economic crash hits and bitcoin is the main payment mode at that time, of course, just like the fiat currencies which are currently the main mode of payment, it'll be affected. Its value will also condole with the economic crash because this depends on the demand and supply of conducting commerce. If the commerce experiences recession and people are having hard days to buy and sell, this will surely impact the main medium of exchange (bitcoin per se at that time), which is the measure of value of the economy.

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i'ts not part of the traditional economic system, right? i don't think there will be any effect to it.

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People will search for another payment method to replace fiat because of the global economic crash. And maybe people will change from using fiat to the bitcoin, and they will use bitcoin for the new payment because they don't trust the government. People will on the chaos situations and they become angry, but I don't if it's effect to bitcoin price or not because bitcoin and fiat are different. But the truth, people will find the replacement of fiat so they could still make a transaction and buying their needs.

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Quote from: buddhasource on November 01, 2018, 05:49:10 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.

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?

If there will be a global economic crash. All types of commodities are affected and the main target affected is in a low class of living. Included here is the value of Bitcoin because USD dollar is the prime uses when we processed in every transaction.

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Quote from: sodalime on December 10, 2018, 06:04:53 AM

I think there isn't much point in trying to guess what will happen. It's going to be more dependent on behavioral economics rather than purely rational values. If bitcoin were an actual currency, it can fulfill the same purpose regardless of whether the price is high or low, and driving it up as an asset, makes it hard to be a currency. Given that there are also so many other alternatives, Bitcoins' main advantage is really first mover advantage, and it's hard to say how long that would last.

We've already seen in previous rise and falls, that bitcoin has been driven greatly by speculative demand.

I think global economic crash will result in crash of all markets including crypto currency. May be people will move towards crypto as it is relatively new and even a small investment in crypto can boom the prices to 2x or more. But all in all, i hope economic crash will not occur and things remain normal.

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Quote from: buddhasource on November 01, 2018, 05:49:10 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.

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?

If that would happen then Bitcoin will be the salvation of the poor. Remember how the crisis takes place 10yrs ago? It made a testament that people will need an alternative ways to prevent it, eventually now that we have Bitcoin and cyprocurrencies, I think economic crisis cannot affect most of the players in crypto.

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Quote from: Ezenwanyi1 on December 28, 2018, 03:43:55 AM

I am of the opinion that when there's a global economic crisis that cryptocurrency would be affected negatively.

Anything may possible. Even the short term impact will be in negative, we can expect more investors rushing to bitcoins which may bring positive things later on.

Quote from: Ezenwanyi1 on December 28, 2018, 03:43:55 AM

In global economic crisis people would because trapped and so won't have enough for cryptocurrency investment which will make for decreased demand and high supply.

That will not be true. If economic crisis will be arising then we can expect institution funds will be moving out of stocks and bonds and may go to gold and cryptos kind of alternative mode of investments.

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Some of the commentators raised valid points in their submission but I am of the opinion that when there's a global economic crisis that cryptocurrency would be affected negatively.
This is because ,In global economic crisis people would because trapped and so won't have enough for cryptocurrency investment which will make for decreased demand and high supply.

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Quote from: efxtrader on December 28, 2018, 01:24:28 AM

Quote from: naidray on December 27, 2018, 12:51:39 PM

We have seen some examples of this before, a global crash is so big that crypto is usually not affected, usually not in a good way but not in a bad way as well. The volume constantly drops and the price usually stays afloat at whatever price it is and yes sometimes goes up and down but that happens right now too so nothing new and the world continues to recover itself.

Crypto doesn't get a major change in their prices or even the interest because people are focusing more into their day to day lifes instead of focusing on future profits, global crash doesn't mean "oh I can make so much more money now" or something for people, those are just investors.

Regular people focus on how to pay the gas bill or phone bill or the next meal instead of thinking about the investment chances.

When 2008 economic crisis, cryptocurrency market still not exist. Its hard to predict what happen with cryptocurrency. But if economic crisis happen, i think investor searching new investment and cryptocurrency will be one good alternative. Bitcoin as store of value will be favorite instrument because having biggest liquidity in market

personally i am happy in economic world in crisis.in my opinion there are massive money movement from other finance market come to cryptocurrency market.as new investment world cryptocurrency could be right place to save their assets.

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Quote from: naidray on December 27, 2018, 12:51:39 PM

We have seen some examples of this before, a global crash is so big that crypto is usually not affected, usually not in a good way but not in a bad way as well. The volume constantly drops and the price usually stays afloat at whatever price it is and yes sometimes goes up and down but that happens right now too so nothing new and the world continues to recover itself.

Crypto doesn't get a major change in their prices or even the interest because people are focusing more into their day to day lifes instead of focusing on future profits, global crash doesn't mean "oh I can make so much more money now" or something for people, those are just investors.

Regular people focus on how to pay the gas bill or phone bill or the next meal instead of thinking about the investment chances.

When 2008 economic crisis, cryptocurrency market still not exist. Its hard to predict what happen with cryptocurrency. But if economic crisis happen, i think investor searching new investment and cryptocurrency will be one good alternative. Bitcoin as store of value will be favorite instrument because having biggest liquidity in market

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If a worldwide economic crisis makes people start to send each other bitcoin to pay for stuff, then maybe there's a chance we can escape the banking ponzi scheme we're all living under.

All it takes for Bitcoin to become worldwide currency is for landlords to accept it as payment, food stores, restaurants, gas stations. Soon as everyone starts accepting Bitcoin for payments, the government will need to adapt.

For the time being people are still locked up in the fractional reserve banking ponzi scheme. Everyone works their entire lives for bankers.

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Quote from: Siti Nurbaya on December 27, 2018, 10:43:37 AM

Actually, I can't imagine if there is a global economic crisis, but if that happens then bitcoin will be able to close the finances rather than individuals. Those of us who are criticized may be able to overcome the crisis and be able to escape the crisis.

I think it's already inevitable that any time we will have a global economic crash but knowing bitcoin who is only considered as an alternative mode of payment might not be affected that much.People will still continue to invest and hold bitcoins because its growth will also be inevitable in the coming years to come.

naidray

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We have seen some examples of this before, a global crash is so big that crypto is usually not affected, usually not in a good way but not in a bad way as well. The volume constantly drops and the price usually stays afloat at whatever price it is and yes sometimes goes up and down but that happens right now too so nothing new and the world continues to recover itself.

Crypto doesn't get a major change in their prices or even the interest because people are focusing more into their day to day lifes instead of focusing on future profits, global crash doesn't mean "oh I can make so much more money now" or something for people, those are just investors.

Regular people focus on how to pay the gas bill or phone bill or the next meal instead of thinking about the investment chances.

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Actually, I can't imagine if there is a global economic crisis, but if that happens then bitcoin will be able to close the finances rather than individuals. Those of us who are criticized may be able to overcome the crisis and be able to escape the crisis.

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Quote from: Dodoymabs on December 27, 2018, 04:22:10 AM

Quote from: cctv0 on December 27, 2018, 03:31:30 AM

In theory, Bitcoin will take off again, but if capitalists don't want this to happen, Bitcoin will fall. Now that the economic cycle has entered a 100-year cycle, many countries will have huge problems.

Probably Bitcoin wouldn't easily to fall because it's been supported by some big whales as we say. If there is an economic crashed, well or will probably have some reaction and to think it would probably make the value to go down.

Probably depends on what caused that economic crash. Imagine if ww3 broke out wiping most country's economic structures. I don't think even crypto would be able to survive that with basic essentials like online connection possibly becoming compromised.

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Quote from: Dodoymabs on December 27, 2018, 04:22:10 AM

Quote from: cctv0 on December 27, 2018, 03:31:30 AM

In theory, Bitcoin will take off again, but if capitalists don't want this to happen, Bitcoin will fall. Now that the economic cycle has entered a 100-year cycle, many countries will have huge problems.

Probably Bitcoin wouldn't easily to fall because it's been supported by some big whales as we say. If there is an economic crashed, well or will probably have some reaction and to think it would probably make the value to go down.

Well, for me, bitcoin is a trading platform the people would be able to use during a depressing economic crisis.
There will always be some people who would accept bitcoin during the crisis as payment because they know the long-term investments work and both of the party will benefit. (the trader and the buyer)
Since bitcoin is a decentralized currency, the numbers will never change but, the decision to its value is quite alarming. It would take a thousand discussion before the value would be decided

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Quote from: cctv0 on December 27, 2018, 03:31:30 AM

In theory, Bitcoin will take off again, but if capitalists don't want this to happen, Bitcoin will fall. Now that the economic cycle has entered a 100-year cycle, many countries will have huge problems.

Probably Bitcoin wouldn't easily to fall because it's been supported by some big whales as we say. If there is an economic crashed, well or will probably have some reaction and to think it would probably make the value to go down.

cctv0

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In theory, Bitcoin will take off again, but if capitalists don't want this to happen, Bitcoin will fall. Now that the economic cycle has entered a 100-year cycle, many countries will have huge problems.

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