Would a global disaster increase or decrease the Bitcoin value ?

doomistake

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Quote from: wxxyrqa on September 04, 2019, 01:41:18 PM

then the cryptocurrency will exist exactly as long as humanity will exist.

I certainly doubt this part, we only have limited of supply in the market, which is 21,000,000 BTC, and the predictions says it would be all mined in the year 2140 (correct me if I'm wrong, don't judge me), by that time, we don't even know if we are all existing, including earth, the climate change is a serious matter that's clearly showing us to help our mother nature to recover and stop being selfish and self-centered.

but if humanity do still exist by that time, bitcoin would be still living but it can't be here forever, you know what I mean.

blckhawk

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Quote from: CosmicVibe on February 25, 2017, 03:01:51 PM

Hi ! First message here.

If a global disaster would happen on earth ( And I somehow don't wish it ) Would the value increase or decrease ?

I'm not talking about solar flares or EMP. But more like big wars or great natural disaster.

What are your opinions on the subject ? Cheesy

Depends on the magnitude of damage. If its too much, then instead of investing, people might need cash to survive, in which case people would start selling their coins, increasing supply and decreasing market price. However, if only small political tensions arise, then people may want to look into cryptocurrencies as an alternative storage of funds, if they're willing to take the risks of losing part of their money.

Gontxi

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it's possible that bitcoin will be badly affected by disasters of it's experienced by countries where people use bitcoin a lot, but besides that there are also many factor that influence the increase or decrease

gaston castano

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It depends, which war occurs where and which countries are affected by the war, of course the economies of the two countries will be destroyed, and not only that other countries that can establish cooperation with these countries are also affected because they cannot export / import and this makes money value the country is down, I don't know about bitcoin because it's purely from demand, but I'm also curious if the war country is china whether it will have an impact on btc, because china has the most btc holders

yulionoo

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if on earth there is a big disaster I think the value of bitcoin will decrease because the internet network must be disrupted then people need fiat money more than bitcoin. because it can be used directly to buy. if this situation lasts a long time it will definitely make the value of bitcoin go down because there is less demand compared to supply. therefore I suggest we must have another business. we should not rely on bitcoin as our main income.

dengpei

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It depends on the type of disaster and the areas and types of infrastructure affected, for example a disaster that affects crucial infrastructure such as electricity in areas where BTC mining is prevalent such as China, Russia or Siberia would be devastating for BTC as there could be a shortage of miners meaning that transactions will move at a slower speed.

seanskie18

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I think, it depends on what kind of disaster will come. If it is natural disaster such as earthquake and tsunami it will affect the value of Bitcoin since many people need more money that will force them to sell their Bitcoins and the price of it will be affected and If the country is small it wouldn't affect the value of Bitcoin.

Pab

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Solar flares are happening now
If Internet infrastructure will be devastated .if people will experience material loses then people will urgently need money so that time we can experience some sell off
But if global disaster will happen last think what you will be worry about will be bitcoin
Imagine yourself on Bahama after Dorian you will get answer

Bisbee

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I think Venezuela is a good example of how the popularity of Bitcoin and other cryptocurrencies can grow locally in one particular region. If catastrophes or crises are global, then the popularity of Bitcoin will gain much more popularity and will be used in all countries regardless of the economic situation of countries.

topcryptodomains

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It depends on what kind of catastrophe, Bitcoin and other cryptocurrency only works as long as you have working device and gadgets. Without smartphones, computers, internet and electricity, it is nothing.
Food , water, clothing, shelter and safety are the basic human needs, and these are the most valuable things during catastrophes. Money, treasures and other store of wealth lose its value or degrade.

befriendmywater

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It will definitely lose a lot of value. You know, when disaster strikes, the internet will be lost and hard drives and data of multiple accounts will be damaged.
And therefore, the internet will be scarce and no longer have much activity in the crypto market.
The value of businesses will also decline sharply over time.

Andrews193

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Quote from: spike420211 on September 05, 2019, 06:20:31 PM

Global disasters come in all sorts and sizes. The economic crisis, to some degree, can also be considered a global catastrophe, it all depends on scale.
In this case, it is likely that a strong outflow of capital will be in cryptocurrency.
In the event of an environmental disaster, anything can be.

In my opinion, regardless of disaster, from financial disaster to environmental disaster, the value of bitcoin is likely to decline dramatically because talking about financial disaster, that will make us imagine a collapse, loss, investors will preserve their capital, cutting losses on investments is what they will do. And speaking of environmental disasters, it creates a lot of losses from people and assets, sometimes it can affect the real estate of big investors, sources of investment in bitcoin must be cut to have the cost of solving this disaster

jakoylantern

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For me, it will depend on the global disaster that will happen, if most people will be affected in the disaster ( like nuclear war ) that most people will die I'm definitely sure that it will decrease the bitcoin value not only the community but also the entire bitcoin because theirs a high possibility that there will be no internet, no miners and no electricity. But I hope it will never happen.

spike420211

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Global disasters come in all sorts and sizes. The economic crisis, to some degree, can also be considered a global catastrophe, it all depends on scale.
In this case, it is likely that a strong outflow of capital will be in cryptocurrency.
In the event of an environmental disaster, anything can be.

wxxyrqa

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Global disasters can be different and if they are local in nature, then these disasters will not affect the price of cryptocurrency. But if you believe the predictions regarding the existence of humanity, then the cryptocurrency will exist exactly as long as humanity will exist. But if we talk about the future of Bitcoin, then the first problem for the existence of Bitcoin is scalability, which needs to be fought and increased. Ethereum has been brewing the same problem lately.

tonyvo2017

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It will certainly decrease. In my opinion, if there is a major disaster, internet connections, large organizations like ETH, Binance is broken by disaster, everything will be very bad.
Overall, crypto is not a place for you to put too much hope when the world is in disaster.

bitcoinposts

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The Global disaster will definitely increase the btc value there was no btc in past recession now we have btc as decentralized commodity we can expect btc prices to touch 20 thousand dollars in next quarter

imstillthebest

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Quote from: ?? on ??

Quote from: wxxyrqa on July 30, 2019, 03:39:47 PM

Anything can be a global catastrophe, but if humanity is left without electricity or the Internet, then we will all return to silver and gold, because even papers will not have real value.

without crypto currency technology can not do anything because crypto currencies were created using the times and technology i

no mate . cryptos are only alternative . without them we can still leave but without other important resources crypto wont exist . as long as there are still life on this earth , people can rebuild the destroyed resources including the internet and electricity but if ever these two are temporarily not available then we cant use cryptos but there are still fiats and gold ,silver , or other precious metals .

cabalism13

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Every disaster does have some effects on the community, whether its digital or not, Besides it is us who use those things and if we suffer on some calamities we'd better stay and do what we can rather than save any reputations or value of some things.

These things can be raise again though it will just take some time.

Lapatai

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If we're talking about war, plague or this kind of disaster, definitely crypto prices would fall, because it is not backed by anything, just the belief of others and willingness to pay for the amount.

When hyperinflation strikes, money looses value and natural trades takes place. I believe that crypto then will be worth the same as the "Monopoly"'s money is super market right now. Grin

Crypto is good when electricity, computers and internet works. If some event disrupts one of these, whole crypto thing will suffer greatly.

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