tough question. but ill have a go
though bitcoin is a good personal asset to hedge against fiat.
human decision especially with a lets say 60euro daily limit would be
obvious essentials come first.
first food stockpile
second car fuel - if you cant get to the store or an ATM or to work your screwed for tomorrow
third electricity and water bills paid off
forth housing- you dont want them making you homeless even if its the banks fault
then if you have anything left. you would stockpile food or pay off bills in advance to give you breathing room..
then if there is any left. then you would ensure its not held as FIAT but as something else like personal assets of value
Topic: What would happen if a major financial crisis hit entire world in a few months - page 3. (Read 1460 times)
June 29, 2016, 06:33:39 PM
June 29, 2016, 06:20:39 PM
Remember how financial crisis in Greece looked like? To sum it, all banks were closed, you could withdraw money only from ATM's and those were capped on 60eur daily.
If this happened globaly but on even more apocalyptic scale, how would it affect the Bitcoin world?
My guess is the price of BTC would reach the moon, BUT, how would we live with Bitcoins and without banks?
Currently we have cool services like Xapo which provides you a debit card so that you can withdraw your BTC into local currency. But bank that is supporting Xapo in this business would also be closed and i guess this debit card wouldn't be of any use if a major financial crisis occures.
I guess all BTC ATM's are relying entirely on banks?
If there would be no liquidity for the BTC, maybe gold would be a better option? You can always sell gold...
If this happened globaly but on even more apocalyptic scale, how would it affect the Bitcoin world?
My guess is the price of BTC would reach the moon, BUT, how would we live with Bitcoins and without banks?
Currently we have cool services like Xapo which provides you a debit card so that you can withdraw your BTC into local currency. But bank that is supporting Xapo in this business would also be closed and i guess this debit card wouldn't be of any use if a major financial crisis occures.
I guess all BTC ATM's are relying entirely on banks?
If there would be no liquidity for the BTC, maybe gold would be a better option? You can always sell gold...
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