Topic: Will bitcoin survive the impending financial crash? (Read 4378 times)

I hope my government (UK) are looking at giving people the option to be paid in BTC. I'm sure that there are a few clever economists in our government looking at this right now.

If we can garner a smooth transition whereby people accept BTC voluntarily instead of FIAT then we have less chance of armageddon and our public services won't be compromised.

I don't want to live in a world without police, nurses, doctors, firemen or even bus services. That list is just off the top of my head.

I value my community and I hope the government see sense and allow a smooth transition to BTC if that's what the people want.

The trouble is, our corrupted government (not the only one) are loathe to tell us the truth about the disastrous state of the economy as they're all in cahoots with the bankers, who can go fuck themselves.

Hopefully an altruistic and honest change in government policy will allow decentralised currency to co-exist.

Things will change. They have to, or else we'll be living in deprivation.

A crash will cause BTC price to rise as people become more and more desperate to protect their wealth. the time to buy is now.

You don't necesarily need fiat to get Bitcoin, I might give some one some eggs from my chickens in return for 0.001BTC

On the contrary, a financial crash might just be what is required for the bitcoin price to take off. 

There isn't much point in the question. Bitcoin might not survive by causes totally unrelated to financial crashes. And there is no reason why a financial crash would kill bitcoin.

I feel like I gotta chip in, although I wish I had better study into Economics. Non the less, lets take it back exactly 1 year. Where was BTC? in a few more months it would be it's first time to pass $1,000 USD per BTC. ASICS were being made to a point that the market wanted more.. better. for less. So where'd that lead us? To ASICS that hash at half a terrahash/s for a few hundred. Not so long ago.. Cointerra, KNC, this guys and a few others ruled the market. As everyone knows, the price of BTC is linked to many variables. One being how many people use BTC, and so on. So what made this spike so huge? The influx of new miners, traders, and "holders". Among other things of course. But... I HAVE to point this out..

BTC is based on the internet. I fear that if a government's fiat is worth so little... How are we to pay the electricity companies? without electricity, how will IPS companies run.. And how will we have internet and power at home.. Without them.. Well, there goes BTC and it's price.

Now as far as silver and gold bugs out there. Well, a HUGE portion of gold is held by the U.S. in the Federal Reserve Bank of New York and Fort Knox... So. the problem goes back to fiat.. it's only worth what the government says.

So long as we have this type of government everything will be controlled. Think about it.. Most of the money in the world is just digits on a computer. Back in the 1920's maybe it was easy to have all the money as paper currency in circulation.. but now we're in the modern era.

But then the problem arises... With this "modern era" comes this beautiful thing called credit. So long as people keep borrowing money, they're in trouble. Notice how credit score's only take into account your credit cards, why not debit cards? Because they know people whom have credit are more likely to spend it, and in their minds think "i'll be able to pay this, and it will even help my credit score"... Funny huh? And honestly there's nothing we CAN do about our current system. Our president is a puppet controlled by the banks and powerful corporations, congress itself isn't much different, other than they can also be bribed making them much easier to control.. So long as this so called "Democracy" (which is ironic since america is a republic) dominates.. We're all stuck without a true voice.

Lemme give you an example before I shut up, if you live in New York, and you would like to speak to your congress man about any subject or matter, chances are they'll:
A. ignore you
B. send you a letter saying they'll think about it
C. Say they can't do anything because they're on the committee or something against it.

What do you do if you want to speak to a congressman that IS on your side, but is a representative of another state..?

Riddle me that..

Thanks for reading this rant though guys,

-T.O.

Hard to see this right now given big correction this year.

Bitcoin will not only survive, it will be the tool to recover from any impending financial crash.

Bitcoin is antifragile, it benefits from volatility. Read Taleb's book if you don't understand it.

I am not sure what "crashes" you are referring to? If you are talking about economic recessions, then most countries are experiencing a recession every 8 to 9 years not 3 to 4, plus a recession is a normal part of the economic cycle. If you are talking about a stock market crash then this happens every 15 to 20 years but is also part of the economic cycle. If you are talking about large inflation then this has not happened is 40+ years, is very dangerous to the economy however it also very rare

But i don't think that modernity can be sustained by crashes happening each 3-4 years. 

I think bitcoin will still be able to survive at all costs, even if hit by the financial crisis, because of the type of bitcoin is cryptocurrency, the financial crisis had little influence on bitcoin, but will have little impact because it depends on the exchange rate of the dollar money market, hopefully the price of bitcoin but steady and in the future ... 

Fiat won't last long if it keep crashing every 3-4 years. Something is wrong is this system, i hope more an more people will realize that soon

teh question is not  "Will bitcoin survive the impending financial crash"


the question is:   "will the financial crash survive the impending bitcoin!?!"


 

PLUNGE PROTECTION TEAM !!!!!!!!!!!

the worst part is that that team exists...
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets

BREADCOIN to be invented.... Every coin backed by an exquisite slice of bread shippable worldwide  

Bread will worth more then btc in a bad crash. So no...

So you basically say FIAT was created at the big bang.

It will survive.. But will the people survive the financial crash? Who will embrace bitcoin if people is fighting for their lives?

ethereum will take btc' place over my dead body (please dont kill me)(not literally)