Topic: Will the next economic collapse trigger massive crypto adoption? - page 3. (Read 787 times)

It could.

It is either gold or bitcoin which is their scapegoat.
I dont see them going back to real estate if equities and bonds will be down.
They need one which will have a value of USD and gold is number one to that. It could bloat the value of both bittcoin and gold while on the other hand fiat currencies will take a big plunge.

If the economic collapse has definitely happened there is something need to be adopted by the country and the chances are always higher for cryptocurrency to get involved in it and we have make the chances to be improved by getting connected with paper currency all the time.

And I believe it will happen in the future, the next economic will collapse so trigger massive using Crypto in the people lives. We can see now the industry 4.0 has been using the internet for transaction so that the potential use of Crypto for transaction will be even greater.

We did not adopt it, but some of us are using it either to take refugee from garbage fiat, or to get access from to foreign currency. Petro failed due to its absolute centralized nature (and empty promises by a gov most of the world doesn't recognize anymore). The police is corrupt and criminal, laws are irrelevant. Mining wasn't illegal when they started extorting, kidnapping and ransoming miners, they simply did it to obtain money. No one can go against the police or the military, there is no rule of law and it only matters how closely tied you are to the de-facto gov. If they hate you, they simply fabricate anything and you can do absolutely nothing about it. A medieval court would probably be more fair than whats left of the justice system here...

Crypto probably IS saving lives, but its not being widely adopted, sadly. Zimbawe after years of Mugabe's stubbornness, finally lost its fiat. It is very similar to what is going on here; but instead of crypto they adopted the USD as national currency. Politicians are incredibly idiotic regarding economy, their absolute lack of understanding the most basic concepts is baffling. They think supply & demand to be sort of "ideological" myth... It is THAT bad.

I think will make the economy move to crypto adoption. The bank played a vital role on the last economic collapse.
By introducing a P2P credit system, which uses blockchain tech. The credit system shall shift from a tradition banking system to a P2P, with these cryto shall be made available to the economy.

The best time for crypto adoption is when there is economic crisis in a country, the way we are going to see a massive growth in the price of bitcoin will be so alarming, because the demand of bitcoin will be so high, and following the law of economics, the lower supply and higher demand in the price of a crypto will cause the price of that cryptocurrency to grow massively, I know that in the next few years to come, we might see the price of bitcoin at $500,000.

OP is legendary member, I must remind him about few years ago, we had talks about the same thing here on forum. I believe that every person disappointed in banks will join blockchain, and you know what, there are many people disappointed in banks currently and entire economy system.
I think that country from that continent will make some changes faster than others. Argentina made a bald move with announcing that they will follow every investment that binance make. From Venezuela we have many kind of news, looks like they are very crypto oriented. I think that cryptocurrencies will play major role in global economy in next 5 years.

Yes definitely the possibility is there for Crypto adoption while the economic tragedy will happening in this world but not sure about the changes have been happening now but the future will definitely go anywhere at that time the possibility of your statement will be available .

if we see the hyperinflation situation in South American countries like Venezuela and Argentia and Brazil we should understand how important crypto adoption for such countries to survive.Coming years we see crypto will play major role in country economy

I am an user of this forum for the last 7 years. A lot of times, such claims were made here. A similar claim was made after the Cyprus bank haircut. But there was no major boost in Bitcoin adoption after the haircut. More recently, such claims were made during the crisis in Venezuela. But once again, I could not notice any major changes in the adoption patterns.

I believe cryptocurrencies are good assets for someone to work for their passive earning way. It's always good to take precautions instead of waiting for the economic collapse to happen. Yes, crypto coins will save you but not many people even know how to trade or use these digital coins efficiently. you simply can not rely on the coins for your survival but it can surely help you in your bad times if taken the good decisions.

like Venezuela that has run it. they are like no other option to improve the economy. using crypto will certainly improve the situation, because the price of crypto is falling and they legalize it

Yeah. It's nearly impossible to live off cryptocurrency these days, especially when the market is so volatile. The same way as you, I can't understand why there are many people saying that they can live off cryptocurrency. I believe that only people who live in third world countries will live a good life by relying only on crypto as a single source of income. As for the rest of us, it's better to find a real job that has a good salary capable of satisfying our daily needs. By combining a real-life job with crypto, you can live a better financial life like never before.

As for a global economic collapse, I believe that there's a possibility of it happening again in the future. After all, several countries are ending up in unpayable debts and high inflation which is terrible for their economy. If by any chance a financial crisis happens again, you could rest assured that people will look for alternative ways to preserve their money. Crypto seems like the way to go, although many people are still skeptical about it.

Nonetheless, it's true that crypto has a high risk of becoming worthless over time if it loses mainstream adoption. If that happens, then the only safe-haven against a global economic collapse would be Gold as a stable, store of value. Just my thoughts

having a economic crisis does not automatically mean people will invest into crypto more it depends.
We did see some countries with currency problems using bitcoin as a safe haven but that was only because it was only there small country with the problem
if USD goes under its a much bigger scale and I don't think you can expect the same situation.

In crysis people are in search for viable options and i believe the altcoins offers an alternative to the fiat coins any time.

I think that bitcoins will be seen as a safe haven for storing value, that otherwise would be wiped out in hyperinflation, the central banks can only print their way out of a collapse on the stock market, so hyperinflation would hit hard next time we see a big economic collapse.
So I think a lot of people will try to buy some crypto, and those who can afford it will choose bitcoins.

Who claims it will not help with adoption is totally wrong. But I would not expect just a switch form fiat to crypto. Next financial crysis will just accelerate the adoption. Some countries will be ahead other will stay behind.  I personally only hope that this financial crysis come as late as possible. So Bitcoin will be way more ready for it as it is right now. I really dont want it this or next years. Please!

People and the economy could adopt cryptocurrency in the future but it doesn't mean that we have to eliminate fiat. Bitcoin could be used in trading goods and services but it will never replace fiat. If there will be an economic crisis in the future, we could have cryptocurrency as a support system and I'm sure that it will be a big help in rebuilding the economic situation.

That's right. If, during or after the crisis, a mass adoption and distribution of cryptocurrency occurs, then there will become places in which it will be accepted and exchanged for goods or services, without being tied to fiat.

In most instances like this where a economy fails for some reason, people try to shift their wealth into some kind of safe haven like Gold or Silver and with the introduction of Bitcoin, this might give them a new store of value and a new safe haven to hedge their possible losses.

We have seen this happening in Greece and Zimbabwe and also in Venezuela, so it is not unlikely that it would happen with the next big financial collapse in one or more country in the future.

Bitcoin has been a good store of value in the previous years, but it is still more risky than Gold and Silver and it has the advantage of being easy to store and also easier to shift from one country to the next.