Isn't it funny if it would be the lead to the next financial crisis?
Since many of the old or real crypto enthusiasm believe or thinks that Satoshi creates Bitcoin because of it?
And it is created to give us financial freedom but in the end it would be financial crisis.(If it would really be the lead to the next financial crisis)
But I think it would not be the lead or reason for the next financial crisis like most of us who answered this question.
Topic: Will crypto lead to the next financial crisis? - page 8. (Read 1265 times)
will crypto cause the financial crisis ,, before the arrival of bitcoin, the global crisis also occurred in 2004 ,, and now the global crisis is happening again because of the pandemic problem ,, many jobs are restricted, flights between countries are restricted, so in my opinion cryptocurrency is not the cause of financial ruin global ..
You are looking at bitcoin in a tunnel vision, there are a lot of different factors that causes a financial crisis. Also, 2008 crisis is a year older than bitcoin since it was developed in 2009 and I think the reason for that crisis is the housing prices or the mortgage in housing. Also, bitcoin is decentralized so there's no way that it is tied to mainstream economy.
Bitcoin is not as integrated into global economy as other finance-related things. After all, the global economy is still in big trouble because of the pandemic, but Bitcoin has been growing for most of the pandemic. So I don't think cryptos can trigger the next global financial crisis. They might go down with other things or rise at their expense, but probably cannot be the cause. Speaking of the cause, aren't global crises natural and supposed to happen once in a while in the current economy? It can be postponed or come a little early, it can be more severe or milder, but it's not completely avoidable.
OP is probably trying to start a discussion in response to some recent articles like this one
https://theweek.com/articles/983641/cryptocurrency-cause-next-financial-crisis
I feel like it could start a fiat money crisis and I'm saying it because there have been rumors that banks will start to ask you to pay for your account, just like they ask you to pay for a credit card.
Bank services used to be more or less free with only some paid services like instant transfers, currency exchange, loans and so on. Now they are going to charge you monthly for your account. If that happens more people will decide to withdraw.
https://theweek.com/articles/983641/cryptocurrency-cause-next-financial-crisis
I feel like it could start a fiat money crisis and I'm saying it because there have been rumors that banks will start to ask you to pay for your account, just like they ask you to pay for a credit card.
Bank services used to be more or less free with only some paid services like instant transfers, currency exchange, loans and so on. Now they are going to charge you monthly for your account. If that happens more people will decide to withdraw.
Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
You confuse financial crisis with market crash. Those are 2 separate things.
And crypto is too small. Way to small to matter. Whole crypto industry is as big as Apple company. You could as well ask "will we see next financial crisis because of bad sale of the new IMac pro" ?
Next financial crisis already have its "sponsor". Its depth bubble, QE bubble.
Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
Personally, I do not think that cryptocurrencies could be the cause of a financial crisis in the near future. We may be on the verge of something like this and the collapse of the US dollar, but this will not be related to cryptocurrencies.
If US policy continues and they continue to accumulate foreign debt with no visible effect on the economy, it could lead to a collapse of the dollar, which will affect the financial picture around the world.
Mortgage backed securities are not the main reason for the 2008 financial crisis.
Credit rating agencies were selling fake data to banks,and the banks were lending loans that weren't backed by a big enough collateral.This caused a bubble in the US real estate market and when the bubble popped,the people refused to pay their debts and the banks had liquidity issues.
The crypto market won't lead to a financial crisis,because:
1.The banks won't adopt cryptocurrencies.
2.The majority of the people and retail businesses won't adopt cryptocurrency payments.
Credit rating agencies were selling fake data to banks,and the banks were lending loans that weren't backed by a big enough collateral.This caused a bubble in the US real estate market and when the bubble popped,the people refused to pay their debts and the banks had liquidity issues.
The crypto market won't lead to a financial crisis,because:
1.The banks won't adopt cryptocurrencies.
2.The majority of the people and retail businesses won't adopt cryptocurrency payments.
Cryptocurrency capitalization is very small. It is enough to sell several tens of thousands of bitcoins and the total capitalization drops by almost 1 trillion.
All capitalization is fake values.
Perhaps when the capitalization of the cryptocurrency market increases several hundred times, it will be a big threat to financial systems.
All capitalization is fake values.
Perhaps when the capitalization of the cryptocurrency market increases several hundred times, it will be a big threat to financial systems.
Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
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