Topic: Will the next economic collapse trigger massive crypto adoption? - page 6. (Read 787 times)
Cryptocurrency compared to an asset like gold and silver are way more 'speculative' and a brand new invention. Even though we are all aware of the potential of the trustless nature and decentralization system, Mainstream not yet reach those steps of understanding. So, I doubt Bitcoin will magically becoming the lifesaver when a crisis occurs. People are lost their hopes, so physiologically I assume they will prefer to choose a trustable gold and silver.
I think it will trigger massive bitcoin adoption but maybe most of the adoption are coming from the millennial who follows technologies. Regular people especially from third world countries will stick to their old school ways of investment such as Gold and Silver.
Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this? 
I have no doubt that if that scenario ever happens again I think there will be a mass adopt for the cryptocurrency, not just bitcoin. People will look for an alternative asset that cant be affected by the downfall of a countries economy and that is cryptocurrency.
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.
With the current state of our economy, that is not impossible to but I do really hope that it will not happen because poor and developing countries will definitely suffer. 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?
Let's don't get too far, ever hear about the hyperinflation in Venezuela? Their national fiat is now almost valueless and their countrymen is now shifting to the use of crypto (btc to be specific). In my perspective, there are disadvantages regarding that adoption because they are now losing one of the trademarks of their country due to a clear sign of poor economic status but the brighter side is they are surviving and giving us a glimpse that the concept of blockchain technology for the whole wide world is not so bad at all. Which is why, it makes me wonder whenever such crisis will trigger a massive adoption of crypto in the future? Any thoughts about this?
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
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
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?
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?
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