Would a global disaster increase or decrease the Bitcoin value ? - page 3.

salty

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Quote from: CosmicVibe on February 25, 2017, 02:01:51 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

It seems to me that if there is a global catastrophe, everyone will not care about bitcoins.And most likely the price will fall.

deodivine1

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What you imply is, if global disaster lead to recession, will it increase BTC value? If yeah, then definitely it will. But if it doesn't lead to recession, it won't cause any significant change. Well, nobody can tell for a fact, but we shouldn't be pessimistic.

shield132

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I thinnk price will increase because as we see, FED and etc, a lot of country wants to print much money. Some say it will cause inflation but if that happens, it automatically leads to an increased price of bitcoin. Even if people see their fiat losts it's value, more likely they'll move on bitcoin with hope that it will bring them profit. Such positive look will automatically lead to an increase in bitcoin's price but will we get massive inflation after all? I don't have answer on it. USA prints a lot of money, everyone says usd will die but as we see it doesn't happen, even usd has risen in some countries.

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Quote from: CosmicVibe on February 25, 2017, 02:01:51 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

It's a very interesting question.
One of replies would be "who knows!?" Cheesy

But in the case of war the popularity of bitcoin would raise, demand would raise and the price would go upper as the result. I think that case would move not only bitcoin, but other cryptos as well.

Ozero

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I think the bitcoin value will be very high but it would be impossible to operate, because if there are power and internet failures, there would be no way to operate with them, it would be stagnant. That is why there must be some way of being able to invent some support via satellite so that bitcoin is always active in the face of a global catastrophe and continue operations.

If people will not be able to connect to the Internet and use their cryptocurrency as a means of payment, it will fall sharply in its price, up to complete depreciation. If a global catastrophe happens and people are put on the brink of survival, essential items will be in price, cryptocurrency will not even be remembered.

boyptc

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Interruption of internet will be there and if its just a specific place that will be affected, the network will continue.

Value will still depends on the demand regardless of the events.

horrifiedx1

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Quote from: finbad on June 04, 2019, 02:29:39 PM

Quote from: Tylev on June 01, 2019, 12:51:50 PM

Quote from: Moshaid on April 18, 2019, 01:22:36 PM

Global disaster in terms of economic wise or political wise but might not really affect the value of bitcoin because it has proven strong over past years after several breakings from top economics analyst. But in regards of natural disaster I think it will really affect the market price in every sector be it bitcoin or any other assets outside cryptocurrency but it's now left with we the community holders on how we want to use it to our favour and to help mankind.

If there is a global catastrophe, people will simply fight for their survival. The price will be the most simple physical things and even ordinary currency will lose its value. With a global catastrophe, the Internet is likely to disappear, and with it the cryptocurrency will disappear. Even if the Internet remains, virtual money will no longer interest anyone. Then, most likely, 10,000 bitcoins will be offered to you again for the pizza, or even more.

I do not want even to think about it, but you are right. When it comes to surviving, people are ready to give everything for a sip of water and for a piece of bread. Suppose, Bitcoins will lose their value in this case.

global damage in the world, will certainly hinder the development of bitcoin, of course there will be a lot of damaged facilities, especially the internet. without this connection, making transactions is useless

finbad

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Quote from: Tylev on June 01, 2019, 12:51:50 PM

Quote from: Moshaid on April 18, 2019, 01:22:36 PM

Global disaster in terms of economic wise or political wise but might not really affect the value of bitcoin because it has proven strong over past years after several breakings from top economics analyst. But in regards of natural disaster I think it will really affect the market price in every sector be it bitcoin or any other assets outside cryptocurrency but it's now left with we the community holders on how we want to use it to our favour and to help mankind.

If there is a global catastrophe, people will simply fight for their survival. The price will be the most simple physical things and even ordinary currency will lose its value. With a global catastrophe, the Internet is likely to disappear, and with it the cryptocurrency will disappear. Even if the Internet remains, virtual money will no longer interest anyone. Then, most likely, 10,000 bitcoins will be offered to you again for the pizza, or even more.

I do not want even to think about it, but you are right. When it comes to surviving, people are ready to give everything for a sip of water and for a piece of bread. Suppose, Bitcoins will lose their value in this case.

Tylev

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Quote from: Moshaid on April 18, 2019, 01:22:36 PM

Global disaster in terms of economic wise or political wise but might not really affect the value of bitcoin because it has proven strong over past years after several breakings from top economics analyst. But in regards of natural disaster I think it will really affect the market price in every sector be it bitcoin or any other assets outside cryptocurrency but it's now left with we the community holders on how we want to use it to our favour and to help mankind.

If there is a global catastrophe, people will simply fight for their survival. The price will be the most simple physical things and even ordinary currency will lose its value. With a global catastrophe, the Internet is likely to disappear, and with it the cryptocurrency will disappear. Even if the Internet remains, virtual money will no longer interest anyone. Then, most likely, 10,000 bitcoins will be offered to you again for the pizza, or even more.

btcdevil

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Quote from: conected on April 24, 2019, 09:47:53 AM

Quote from: alyssa85 on April 24, 2019, 08:43:25 AM

Quote from: TrevorS on April 24, 2019, 06:39:37 AM

I believe that with a high degree of probability, people will sell off their bitcoins in the event of any really strong cataclysm that threatens their life.

If it's a cataclysm where people don't have food and water - sure, they'll sell their bitcoins to buy essentials.

But if it's just a global recession - big investors like to protect their money and gold and digital gold (bitcoin) then become more attractive as they hold their value.

- Well, a global disaster related to food and water, that will certainly make the value of bitcoin decrease when people continue to sell their bitcoin to use for food and drink accumulation, and even if the disaster is a global recession, I still think that the value of bitcoin will still fall, instead of increasing as you say. Because investors and people need to store their money in a safe and less volatile place, that's gold, they can't choose bitcoin when it's just a virtual currency, everyone's reputation and trust with bitcoin is still too low, they will not accept the risk, they will sell bitcoin and move to gold as soon as possible.

I dont agree with you, India had demonetization that time most of them were investing in Bitcoin and the difference of price between international market and indian market was more then 30% up. So i think when their will be global recession then Bitcoin price will surely jump up and how much up it will go dont know but surely it will be double then what price it was .

conected

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Quote from: alyssa85 on April 24, 2019, 08:43:25 AM

Quote from: TrevorS on April 24, 2019, 06:39:37 AM

I believe that with a high degree of probability, people will sell off their bitcoins in the event of any really strong cataclysm that threatens their life.

If it's a cataclysm where people don't have food and water - sure, they'll sell their bitcoins to buy essentials.

But if it's just a global recession - big investors like to protect their money and gold and digital gold (bitcoin) then become more attractive as they hold their value.

- Well, a global disaster related to food and water, that will certainly make the value of bitcoin decrease when people continue to sell their bitcoin to use for food and drink accumulation, and even if the disaster is a global recession, I still think that the value of bitcoin will still fall, instead of increasing as you say. Because investors and people need to store their money in a safe and less volatile place, that's gold, they can't choose bitcoin when it's just a virtual currency, everyone's reputation and trust with bitcoin is still too low, they will not accept the risk, they will sell bitcoin and move to gold as soon as possible.

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Quote from: TrevorS on April 24, 2019, 06:39:37 AM

I believe that with a high degree of probability, people will sell off their bitcoins in the event of any really strong cataclysm that threatens their life.

If it's a cataclysm where people don't have food and water - sure, they'll sell their bitcoins to buy essentials.

But if it's just a global recession - big investors like to protect their money and gold and digital gold (bitcoin) then become more attractive as they hold their value.

Netnox

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I would say that the prices are more likely to decrease, as the internet coverage might get affected. So at least for a short period of time, a group of Bitcoin users will not be able to transact their coins. But then, there can be scenarios where the usage may increase and as a result the prices may go up. If charities accept donations in BTC, then it can have an impact.

markstivn98

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Quote from: CosmicVibe on February 25, 2017, 02:01:51 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

Surely the price may be affected by the increase or decrease, depending on the disaster. If there is a war, for example, people will spend their bitcoin to buy the needs and this will affect the price of the currency, or if there is an economic deterioration, it will affect the exchange rate as well. I hope this does not happen

TrevorS

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I believe that with a high degree of probability, people will sell off their bitcoins in the event of any really strong cataclysm that threatens their life.

Moshaid

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Global disaster in terms of economic wise or political wise but might not really affect the value of bitcoin because it has proven strong over past years after several breakings from top economics analyst. But in regards of natural disaster I think it will really affect the market price in every sector be it bitcoin or any other assets outside cryptocurrency but it's now left with we the community holders on how we want to use it to our favour and to help mankind.

ogini

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We already have crisis everywhere in the world although some country crisis are mild while other are facing serious crisis and cryptocurrency investment is still existing,what else do you want,you want the whole earth to be destroy. What I think can bring disaster is internet war,when the internet in the whole world is not functioning that can decrease the bitcoin value,investors will not have access to trading.

finaleshot2016

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Probably yes, especially when a global disaster destroys all the servers and our ability to browse the internet. Also, when there's a power shut down in the whole world for a lot of days, Bitcoin's value will have a dramatic change.

Quote from: STT on April 14, 2019, 06:54:30 PM

Bitcoin can scale, simple as that. It wouldnt need everyone to continue, just enough people to match demand for transactions. After all BTC started off small and it can go back that way if need be. Its competitive tendering, so long as it scales ok then its fine even with deflationary events to the network

Quote

Bitcoin doesn't run without electricity

You could say this of anything but electricity is more possible then you imagine. Solar panels with wound hair for electric circuits is one strange but feasible creation in rural India I think they use this with of course their natural resource of sunlight.
Then theres hydro power and other possiblities, they can produce electricity even off grid and many things are possible. Not easy but to say absolute zero will exist is not the case, of course oil and generators are always easiest mass source of energy

Not only the electricity but the internet, it's very powerful because we can get all valuable information just by surfing on the web. What's the sense of the blockchain if there's no internet? No transactions will happen there and bitcoin will be nonsense, definitely, it will increase or decrease depending on the situation.

STT

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Bitcoin can scale, simple as that. It wouldnt need everyone to continue, just enough people to match demand for transactions. After all BTC started off small and it can go back that way if need be. Its competitive tendering, so long as it scales ok then its fine even with deflationary events to the network

Quote

Bitcoin doesn't run without electricity

You could say this of anything but electricity is more possible then you imagine. Solar panels with wound hair for electric circuits is one strange but feasible creation in rural India I think they use this with of course their natural resource of sunlight.
Then theres hydro power and other possiblities, they can produce electricity even off grid and many things are possible. Not easy but to say absolute zero will exist is not the case, of course oil and generators are always easiest mass source of energy

jjjfff

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Everything else being destroyed, who would mine Bitcoin?

Bitcoin doesn't run without electricity and a P2P network.

My guess is we would go back to gold or something.

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