Will the next economic collapse trigger massive crypto adoption? - page 2.

Yakamoto

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Quote from: jrrsparkles on April 23, 2019, 06:27:49 AM

Quote from: goaldigger on April 23, 2019, 06:22:44 AM

Quote from: Abiky on April 05, 2019, 10:20:15 PM

Since the last financial crisis back in 2008, Bitcoin has emerged as a new alternative payment system for the world. The creator of this revolutionary cryptocurrency had a good mindset since he/she designed a system free from corrupt governments’ manipulation and centralized control. The benefits that Bitcoin's Blockchain provides are numerous that can transform our economy for the better. However, there's a possibility that a next financial crisis or global economic collapse will happen in the future as Banks and governments worldwide inflate Fiat currency.

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? Huh

Cryptocurrencies are doesnt affected by inflation so if there would come a time that financial crisis will strike again in the country, people will surely turn all to it. People wants to survive and having crypto with them makes them feel secured. Its being decentralized really helps this way. But anyways, i wish there would be no crisis happen.

venezuela's hyper inflation can be taken as an example for this where people starts to use when their country's maoney loses its value so for sure people will transfer to crypto if there is an economical crisis on ther country.We need to educate the people in the right way for the adoption to happen or thei might not aware of an alternative slution when they got hit by inflation.

The people in Venezuela get extra shafted by their government because they didn't have a lot of money before their economic collapse, at least when you compare them to western standards, and because of this they were often left with too little money to buy other stores of value, or have access to them, in the case of Bitcoin and cryptos at large. Now I could be talking out my ass about that, but that's what I understand from the various facts about their country I've read. Inflation in excess of what we have now should make anyone cautious and consider placing money into other stores of value as soon as possible. An interesting website I found where you can kind of gauge when to be cautious is called didthesystemcollapse (.com). Obviously, I haven't seen the system collapse yet, so I don't know how accurate it is, but it might be something interesting to look into in the future.

GregH37

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Quote from: goaldigger on April 23, 2019, 06:22:44 AM

Cryptocurrencies are doesnt affected by inflation so if there would come a time that financial crisis will strike again in the country, people will surely turn all to it. People wants to survive and having crypto with them makes them feel secured. Its being decentralized really helps this way. But anyways, i wish there would be no crisis happen.

No one also wishes or prays for the worst to happen, Those people who are building missile weapons and other dangerous weapons too are not wishing to use it, they are only preparing it down in case something happens.

We don’t wait till something happens before we prepare for it, if we can reason it, then it can happen, that is why they need to prepare for the worst to happen in this economy, and since they already seen a solution already, they can use this crypto tool to prevent such occurrence, they need to turn to crypto right now and use it as a weapon to prevent economic crisis.

romero121

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What's the need of thinking about economic collapse, it is time to strengthen the economic situation prevailing over the world. The economic crisis most of the time happens when the corruption of government and the politicians go beyond the limit. When that gets eradicated automatically the economy gets strengthened. This can be achieved with the Blockchain technology along with the cryptocurrencies usage which provides a transparency in the usage of funds on each and every activities.

d1ceplayer

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The threat of the collapse of the economy already triggered cryptocurrency adoption because they know that if there will be an economic collapse then they are ready because they already put their money in their precious investments that can survive this economic collapse and that is by investing into some solid cryptocurrency like bitcoin.

I'm as bullish on crypto as anyone but if you really want to protect against a collapse you would put most of your money into gold, guns, and alcohol.

You may be as bullish as anyone on crypto, but does not mean you are a crypto believer, what you have just said shows that you are not a crypto believer, and the reasons why you found yourself here is just because you came for the money.

Since those things you mentioned were enough to save the world if economy crisis, then why are you in crypto investment and why not Gold, guns and alcohol line and let’s see how far you get with them. We are talking of what can save the economy digitally, the 3 things you mentioned, we even know of gold, how can they completely save. See Venezuelans, they are running to crypto now to salvage their situation and not those things you mentioned.

jrrsparkles

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Quote from: goaldigger on April 23, 2019, 06:22:44 AM

Quote from: Abiky on April 05, 2019, 10:20:15 PM

Since the last financial crisis back in 2008, Bitcoin has emerged as a new alternative payment system for the world. The creator of this revolutionary cryptocurrency had a good mindset since he/she designed a system free from corrupt governments’ manipulation and centralized control. The benefits that Bitcoin's Blockchain provides are numerous that can transform our economy for the better. However, there's a possibility that a next financial crisis or global economic collapse will happen in the future as Banks and governments worldwide inflate Fiat currency.

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? Huh

Cryptocurrencies are doesnt affected by inflation so if there would come a time that financial crisis will strike again in the country, people will surely turn all to it. People wants to survive and having crypto with them makes them feel secured. Its being decentralized really helps this way. But anyways, i wish there would be no crisis happen.

venezuela's hyper inflation can be taken as an example for this where people starts to use when their country's maoney loses its value so for sure people will transfer to crypto if there is an economical crisis on ther country.We need to educate the people in the right way for the adoption to happen or thei might not aware of an alternative slution when they got hit by inflation.

goaldigger

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Quote from: Abiky on April 05, 2019, 10:20:15 PM

Since the last financial crisis back in 2008, Bitcoin has emerged as a new alternative payment system for the world. The creator of this revolutionary cryptocurrency had a good mindset since he/she designed a system free from corrupt governments’ manipulation and centralized control. The benefits that Bitcoin's Blockchain provides are numerous that can transform our economy for the better. However, there's a possibility that a next financial crisis or global economic collapse will happen in the future as Banks and governments worldwide inflate Fiat currency.

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? Huh

Cryptocurrencies are doesnt affected by inflation so if there would come a time that financial crisis will strike again in the country, people will surely turn all to it. People wants to survive and having crypto with them makes them feel secured. Its being decentralized really helps this way. But anyways, i wish there would be no crisis happen.

maydna

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I don't think the government will allow with easy for people who want to use crypto especially if the economy will collapse because when people using crypto, then it means the government cannot control the crypto, and I think the government will have some income from people which is the tax. But they can make their own crypto like the existing coin we knew before, and they will introduce their coins to the public so people can try and use their coin as the main coin.

But on the other point, that could be possible to happen especially if the economic collapse does not happen to the big country only, but it's happened to almost all countries in the world. And if that is happening in almost all countries, then we will have a big demonstration from citizen because they want to see a changing in the economy sector.

calandra78

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Quote

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this?

like venezula when they economic colaps, they change fiat to cryptocurrency. but, they have high inflation and crypto can't help.

qiwoman2

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Whenever there is a huge economic crisis or war, people usually tend to want to invest in Gold and other assets in general of the same variety. On the other hand, the Younger Generation of Millennials might want to opt out of the traditional way of doing things and want to start hoarding Bitcoin or other Major Alts as they can find it easy to move around if they need to move countries in a more volatile world. I always say to my Parents, it's good to have some Bitcoin aside, in case of a war if it breaks out here as we live in a region with quite volatile neighbors, even though I am not a millennial myself.

Indrawan77

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I think yes is a sort of way, for the one that already know how crypto works will definitely invest in crypto to avoid inflation and to secure the wealth when the global crisis coming, even without the global crisis the number of investors are increasing every day, but the fear of people facing the crisis will surely increase the adoption

samputin

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Quote from: darklus123 on April 05, 2019, 11:05:45 PM

The problem about this idea is that what if bitcoin will also decreases its value as the financial crisis are taking over? We also have to understand that bitcoin is apparently not as self-sustainable as we think of.

People is not risking right now even if the massive financial crisis is not happening yet how much more when it happens.

My take on this is that people might be going back to the old resources such as gold for keeping their investments

Right. We are not really sure if bitcoin, by that time, will be as all time high as ever. There is no guarantee. Hence, people might not take the risk of investing in such due to uncertainty. What's more certain for them would be the long considered 'safer asset' especially during economic turmoil—GOLD. But let's just hope that the odds will be in our favor so that when recession comes, our beloved Bitcoin will thrive.

Donceng

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if the financial crisis occurs, of course, everyone will look for alternative ways to stabilize the economy they have, and bitcoin is the right target to be able to help stabilize the economy they experience. Large-scale adoption of bitcoin will occur because there will be many people who start using bitcoin as an alternative to overcome the economic problems they have

shesheboy

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If you really think this will happen it will encounter so many problems. First Bitcoins stability the hype will start again people will be buying bitcoin and the value increases, what if the value decreases immediately for sure many people will complain about it. If this will really happen in the future. Crypto world must be ready.

its normal that some people will complain about the fall of the price but others will accept it because they are glad that they can buy or invest in bitcoin again . though i dont think that the economic collapse will trigger a hype because people will be having a problem with cash . they cant buy cryptos but they will rather sell their cryptos . the only way that i think that can trigger massive adoption is the acceptance of government and the spreading of the word cryptos .

Virtual miner

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Quote from: Abiky on April 05, 2019, 10:20:15 PM

Since the last financial crisis back in 2008, Bitcoin has emerged as a new alternative payment system for the world. The creator of this revolutionary cryptocurrency had a good mindset since he/she designed a system free from corrupt governments’ manipulation and centralized control. The benefits that Bitcoin's Blockchain provides are numerous that can transform our economy for the better. However, there's a possibility that a next financial crisis or global economic collapse will happen in the future as Banks and governments worldwide inflate Fiat currency.

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? Huh

This crash which you are talking about must be too big. Big enough that fiat of all the countries & economies should be affected by it. Moreover, such a crash should also highlight the way it could be prevented by using cryptocurrencies. Because generally most of the crashes occur due to rampant increasing debts defaults as we saw the one in 2008. Moreover, in fiat the government has the control so it can even take some preventive measures to reinstate from the crash but the same cannot be done in case of cryptocurrencies as it moves with the market flow & forces.

wuvdoll

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I think it all depends on us getting ready for something like that. They say luck is preparation meeting opportunity, when the next collapse happens (there is always one for sure) and we are not ready than the crypto adoption could probably stay around the same or maybe we will attract couple more smart people to the cause and that's it.

Nonetheless, if we get ready and find easier ways for adoption like debit cards getting more famous or mobile phone app payments and all that than we can totally get a huge number of people into bitcoin world, all it takes is us getting ready for it before the collapse happens, 2008 was a big one, we had a mediocre crisis in 2018 as well, nothing too small but not as big as 2008 and it didn't really affected, so we gotta get ready much better for the next time.

loopes

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Quote from: Abiky on April 05, 2019, 10:20:15 PM

Since the last financial crisis back in 2008, Bitcoin has emerged as a new alternative payment system for the world. The creator of this revolutionary cryptocurrency had a good mindset since he/she designed a system free from corrupt governments’ manipulation and centralized control. The benefits that Bitcoin's Blockchain provides are numerous that can transform our economy for the better. However, there's a possibility that a next financial crisis or global economic collapse will happen in the future as Banks and governments worldwide inflate Fiat currency.

Of course, Fiat will transition towards becoming a digital currency backed by worldwide central banks. But when the next crisis comes, I believe that people will resort towards cryptocurrencies as a safe-haven for their investments.

Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? Huh

People buy bitcoin because of their personal reasons. korean and japanese people buy bitcoin as safe haven because they afraid of war that maybe happen against north korea, african people buy bitcoin to optimize their profit and American people buy bitcoin because they think it is good investment for their retirement. I think if the world economic is collapse then the purchasing power of people will be decrease so maybe the demand of bitcoin will be decrease as well, that's my opinion. I hope the world economy will always fine.

Xampeuu

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Quote from: D3m1r4wanti on April 21, 2019, 08:34:09 AM

Quote from: Crypdon on April 06, 2019, 07:33:42 AM

When people lose faith in governments and people they will switch to software and algorithms. Bitcoin cannot be controlled by incompetent governments, and will therefore be a safehaven (as will monero) 😉

it seems like what you say is in line with my thinking so far, namely why some people choose crypto currency as their investment material, or why are they more interested in transacting with crypto currencies?
and now I have received an answer, because they do not believe in the government of their country.

the government wants something they can control, so they don't lose control of the economy. with the existence of bitcoin, it's natural that many governments don't approve it, because they can't control it

AztecGoldHero

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deffenetly it will happen, because people will try to seach a secure thıngs to save theır money that goverments cant touch, crypto gıves that problem a solutıon, as we saw at the past people can start buy crypto if we see an economıc crisis, we saw it in venezuella, we saw it in iran, as ı remember at iran btc saw 30k usd while btc was 5 k Cheesy

D3m1r4wanti

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Quote from: Crypdon on April 06, 2019, 07:33:42 AM

When people lose faith in governments and people they will switch to software and algorithms. Bitcoin cannot be controlled by incompetent governments, and will therefore be a safehaven (as will monero) 😉

it seems like what you say is in line with my thinking so far, namely why some people choose crypto currency as their investment material, or why are they more interested in transacting with crypto currencies?
and now I have received an answer, because they do not believe in the government of their country.

akram143

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There are so much of things that to be created by the use of Bitcoin so this kind of economic disaster will also been easily solution given by bakain only so we can make the changes through the Bitcoin in our economy and it is the only possible where available now

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