Bitcoin Forum

Economy => Economics => Topic started by: Abiky on April 06, 2019, 02:20:15 AM



Title: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on April 06, 2019, 02:20:15 AM
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? ???


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: darklus123 on April 06, 2019, 03:05:45 AM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: NavI_027 on April 06, 2019, 03:52:02 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: alisafidel58 on April 06, 2019, 06:09:39 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Bitinity on April 06, 2019, 06:18:02 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: vv181 on April 06, 2019, 06:46:56 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: talkbitcoin on April 06, 2019, 09:38:11 AM
during a financial crisis people always look for more security specially because they are scared by that time due to the events that led to that crisis itself which was mostly due to their bad investments like what happened in 2008 where banks fucked up the world.

cryptocurrencies, mainly altcoins are considered the super duper ultra risky investments in the whole world. which means people will stay away from them and we can easily see a very large scale altcoin dump if a crisis like that happens.

i would separate bitcoin from the herd though because it IS different and unlike most altcoins it is decentralized. so for example if 2008 repeated and banks were going down, they will pull out of a lot of these coins that they helped create like Ripple and Ethereum so you can be sure of their demise.
and at the same time it means a stronger bitcoin due to all the altcoin dump, the people exiting their corrupted financial systems to a clean decentralized system that has never seen any traces of corruption by banks,...


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: okala on April 06, 2019, 10:38:46 AM
Bitcoin is parr of the economy whether the government recognized it or not because bitcoin operate within the world economy in generality, if there is any economic crisis I believe it will also affect bitcoin because if the economy is down as a system it will rob on bitcoin that is how the system theory work's.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Crypdon on April 06, 2019, 11:33:42 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) 😉


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Reid on April 06, 2019, 12:16:21 PM
I've read something similar about this.

When a financial crisis suddenly comes where will they go to save the value of their fiat.
When that happens something gets stronger. It was gold that was soaring.

Now, there will be a division that will happen.
The trust rating of gold is still high and there is no doubt about that. But if you give people another option then they might really go for that since they just dont want history to happen again.
Something new shoudl be used.
Bitcoin is just here ready for that. They dont need any paper works or any documentation to buy it.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: BobK71 on April 06, 2019, 12:40:18 PM
First, we have to ask, why do financial crises come?

Do they come when investors lose faith in some asset (e.g. stocks in 1929, bank deposits in 1931, and mortgage backed securities in 2007-8?)  Not really, because loss of faith happens all the time, and the elites are usually able to prop up important assets somehow.  What was special about 1929, 1931, and 2008 was that the assets were so highly and deceptively inflated, and the loss of faith so widespread at that point, that the elites decided to abandon important assets and only protect the core assets (e.g. money market funds and the dollar.)

The Western elites have a lot of power, but can't fight the entire market. And due to the incentives built into the state-bank money system, the elites will profit from destabilizing their own system, until they're fighting the entire market, at some point.  So financial crises always comes, eventually.  (This is different from the Chinese empire around 1000AD, where the elites were able to prop up their paper money by executing anyone who transacted with anything else.  Chinese power was centralized while today's Western power is fractured.  And China went to physical silver eventually, anyway.)

Traditionally, gold and silver went up pretty soon after a financial crisis, if not immediately.  This was really a devaluation of state money against 'hard' money as part of the managed retreat that the elites use to deal with a very bad situation from their point of view.  This has been how they kept their core power, i.e. their ability to issue the global reserve currency (the dollar, today.)  How they kept the public's faith in their currency was that, objectively, their currency became more stable after the devaluation.

Bitcoin and cryptos are a new form of gold and silver, and will go up after a crisis.  But don't expect crypots, gold, or silver to replace state money.  The whole point of devaluing against these 'hard' monies is to rescue state money.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: sheenshane on April 06, 2019, 01:37:03 PM
There is a point where I think, the people will not be able to use bitcoin or cryptocurrencies as safe-haven for their investments. It is because the government won't allow people to use their digital assets and won't accept cryptocurrencies as assets as well. What I mean is, once the inflation or global crisis is there and since the people moved their investments in cryptocurrency, the government has their power to kill cryptocurrency and don't accept it as assets. It will turn out that cryptocurrency is priceless nonsense.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: whirlcoin on April 06, 2019, 08:38:20 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? ???
yes it also possible right now because the collapse with the current economy will made the people to think about the future so it may be a huge changes in their life they will definitely adopt the cryptocurrency as a part of their life.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: wuvdoll on April 06, 2019, 08:44:24 PM
Adoption? Sure. Price increase? Not decided yet. Just because bitcoin gets more adopted in the near future doesn't mean the price will go up as well, the more people get into bitcoin the more volume there will be and the more volume there is the more whales have a chance to sell their bitcoins without breaking the market but at the same time stopping it from going high.

That is why I think in the end we will go up but not until we get all these bitcoin rich people out of the way first, all the Craigs and Jihan Wus and so forth that have a ton of bitcoin needs to be stopped and cash out in order for all of us to actually see a decent increase, anytime the price hits to a level of amazing value they come out and do something horrible and kill all the price increases.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: mrdeposit on April 06, 2019, 09:24:29 PM
Honestly, most people are running away from crypto. Majority are not familiar with decentralization. Maybe we will see it change if it proves itself. But, for now majority are not running from the crisis, but from btc.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: carter34 on April 06, 2019, 10:38:28 PM
The adoption of bitcoin is hinged on the use of digital currency. I think that if we still have fiat on use, it will still be influncing the adoption of fiat and the same way in the other scene.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: gentlemand on April 06, 2019, 10:56:46 PM
If you can't pay your mortgage why would you throw what little you have left at magic internet money?

If an economic schism happened 10 years down the line then it would start to possibly look feasible. If it happened today most would run screaming.

Bitcoin's rise has had the luxury of aligning with a near unbroken bull run in the rest of the world. It's still too early for it not to be a toy and a bet to most. And no one hangs on to toys and bets if times are hard.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: 0t3p0t on April 07, 2019, 12:16:25 AM
Massive crypto adoption during the next economic collapse is for me very possible as we can see people, banks and countries nowadays are finding ways on how they would survive the next crisis some choose gold to back their assets and some choose Bitcoin as their back up. We don't want to be affected by crisis and the best way to prevent such collapse is to adopt cryptocurrency for our safety.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: MakeMoneyBtc on April 07, 2019, 12:39:56 AM
During financial crisis people look for a safe place to store their assets and bitcoin is probably the best thing for them right now. Take for example the case of Venezuela which now has over a million percent inflation rate and their economy just collapsed. Now people from there are using different cryptocurrencies just to buy food. Their government has even tried to create their own cryptocurrency but they failed.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: traderethereum on April 07, 2019, 04:49:58 AM
Soon the crisis will happen, or it already happens, and we don't know aware about that. Fiat will transform into new forms and it could integrate with blockchain technology to solve the problem in the financial section. Besides that, people already have a new investment which could give them a new opportunity to make a big profit in the future. So the leader of the country should think about that, and if they are really concerned with their people, then they will try to figure out about the blockchain technology and bitcoin plus the other coin.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Beerwizzard on April 07, 2019, 10:12:54 AM
Cryptocurrencies were always been considered as a risky asset for investments. And they definitely deserve this title.
What kind of things should happen to make all our fiat less safe than currently unsafe assets? Just name some criseses where people gave up everything and started buying something, that earlier was considered as shit?


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Gozie51 on April 07, 2019, 10:23:29 AM
There is that possibility because a collapse of the economic will send a clear message of failure of fiat in the society. This can lead to massive adoption of crypto because it is already standing as alternative.

One major issue that affects fiat is economic forces like inflation but bitcoin is usually not harmed by inflation.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: cryptjh on April 07, 2019, 10:46:34 AM
Land, housing, metals and now also crypto, I think that's what people will buy up as the central banks keep printing more and more money. The price of crypto's as bitcoins will the next many years still be highly volatile, so it will still be a risky investment. But a bitcoin investment that will be good to have if you already have a large portfolio.
People will less money, who can't afford to by into all the main inflations safe asses, will mostly choose bitcoins, as that's something everyone can buy, even if the just have a low salary.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Artemis3 on April 07, 2019, 10:59:39 AM
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? ???

Another crisis will come, but i don't think it will collapse. Inflating fiat is something that has been done for like a century, and some people even think that should be done. The only reason for central banks is the fractional reserve system. Should the world stop with that (bad) practice, and switch to full reserve banking, as proposed by Austrian economics, things would move away from the constant cycles of bubble and crash to one of slower but safer true saving based economy.

This is the same as the people saving (holding) their bitcoins, they are slowly keeping 100% of their money and slowly accumulating for the time they need to use it, as opposed to getting in debt to obtain more, which is the root of the current trend economic problem worldwide.

Austrian economics (https://mises.org/) is the definite answer to stop the recurrent cycles (even if they don't particularly like crypto and want actual gold or similar to be used instead).

A "final" collapse isn't likely to come. While the world keeps with Chicago economics, the cycles will never end, and many people will be hurt. Housing crisis wasn't the first, nor the last. Problem is directly tied to fractional reserve banking (https://mises.org/)...

A world with 100% fractional reserve means the people get to chose when or if they want to lend their money, which (naturally) becomes unavailable during the period of lending. Just like Bitcoin. 3rd of Jan (withdrawal day) actually verifies this for Bitcoin. I wish this was done worldwide to the banks, but of course if only 10% of the world population where to withdraw their money, the banks worldwide would collapse. This is a risk that could trigger something resembling "a final collapse", but i don't see humanity doing it quite yet.

I explained elsewhere that if people starts slowly withdrawing their money, but not beyond the worldwide reserve, it would give traditional banks time to shrink without provoking a worldwide economic catastrophe. One sure way to do this is to convert it to bitcoin, or buy metals or anything can can be under your direct control and supervision.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: kryptqnick on April 07, 2019, 01:28:55 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
There might be some gold for investors, but there is not enough to adopt the gold-backed money system. And cryptocurrency seems the most obvious and promising alternative. The price can surely go down at first, but it can recover and even increase soon afterwards if the global society finally gets sick of the mistakes and flaws of centralised systems with authorities.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: webtricks on April 07, 2019, 06:02:31 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? ???

I don't think people at large have adopted crypto as an equivalent alternative to money till now. Even today we measure value of crypto in fiat such as dollar. So with no standards for crypto in our mind, how will we implement them in market independently?
Let me explain in details. Currently we are able to integrate crypto as a mean of payment because it is possible to measure them in terms of dollars. For say, a site selling web hosting for $15 a month accepting payment in crypto so it charges $15 equivalent crypto from customers. Now erase dollar from scenario. A site selling hosting directly in crypto, now what price should it charge? 0.01 BTC? 0.001 BTC? Unlike fiat, crypto aren't inflationary because their supply is limited. This will cause further problems, the crypto-only economy will fall to stand-still. It won't be possible to increase government spending, it won't be possible to increase salaries of employees, etc. because supply is limited! So concept of crypto is not the full-proof alternative to current currency system.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: hatshepsut93 on April 07, 2019, 08:15:03 PM
Look at Venezuela and Zimbabwe or any other country with crumbling economy - do they have mass crypto adoption? The answer is no, even though the crypto media like to report how Bitcoin is saving lives there, it's still only a very small percentage of the population that is using it, and the government is quite aware of it and takes steps to stop it - in Venezuela they've released Petro, tried to outlaw Bitcoin, police robs miners and so on.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Adriano2010 on April 07, 2019, 08:21:03 PM
Will be hard for all people to mass adoption crypto and also after an economic collapse people will don't know what to do, and they will not invest on something they don't know how works and they will be afraid of losing money. We need more time and a lot of people to learn other people what is crypto and how to use it.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: BitHodler on April 07, 2019, 10:39:10 PM
The price can surely go down at first, but it can recover and even increase soon afterwards if the global society finally gets sick of the mistakes and flaws of centralised systems with authorities.
The price going up or down isn't helping crypto in any way. What people need is money with a fixed unit value, where 1 unit = 1 unit regardless of what the latest forex rate is. Fiat is exactly that. Crypto is not, and might never be.

I don't have to worry about what happens today or tomorrow because I can use my money to buy what I want today, tomorrow, and the week after that. Crypto only adds problems and uncertainties as money.

I seriously believe that tokenized fiat in form of a stable fiat token is going to gain more and more ground as time goes by, because this is what offers people the convenience of crypto, and the unit value stability of fiat.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: okala on April 08, 2019, 10:00:06 AM
The price can surely go down at first, but it can recover and even increase soon afterwards if the global society finally gets sick of the mistakes and flaws of centralised systems with authorities.
The price going up or down isn't helping crypto in any way. What people need is money with a fixed unit value, where 1 unit = 1 unit regardless of what the latest forex rate is. Fiat is exactly that. Crypto is not, and might never be.

I don't have to worry about what happens today or tomorrow because I can use my money to buy what I want today, tomorrow, and the week after that. Crypto only adds problems and uncertainties as money.

I seriously believe that tokenized fiat in form of a stable fiat token is going to gain more and more ground as time goes by, because this is what offers people the convenience of crypto, and the unit value stability of fiat.
Where do you keep the place of anonymous in the cryptocurrency if the price of a coin is stable and fixed 1=1 then the cryptocurrency industry will lose it potency because it design to be unstable and unpredictable, even the faint money is also unstable if you truly understand the forest market you will agree with what am saying.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: DoublerHunter on April 08, 2019, 10:18:34 AM
~snip~
Unlike fiat, crypto aren't inflationary because their supply is limited. This will cause further problems, the crypto-only economy will fall to stand-still. It won't be possible to increase government spending, it won't be possible to increase salaries of employees, etc. because supply is limited! So concept of crypto is not the full-proof alternative to current currency system.
Upon reading of your giving analogy that was really good to hear on that way, I also believed that due to a limited amount of supply in crypto(bitcoin to be specific) it may divert people to cryptocurrency from fiat before economic collapse happen so that the can easily recover their fund trough converting again into fiat. Because the market always has up and down movement, it is the fundamental principle here that the supply and demand in action. When demand exceeds supply, prices go up, and when supply exceeds demand, prices go down. The resting mean price is considered to be the fair value of cryptocurrency.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: dothebeats on April 08, 2019, 04:35:36 PM
Perhaps, or perhaps not. Do remember that there remains gold and silver should people want a hedge against the financial crisis. I'm more inclined to think that this incoming financial crisis will shift the world's wealth temporarily to gold and silver, with cryptocurrencies given lesser priority except for the hopefuls and risk-takers, of course. Anyhow, the next financial crisis wouldn't likely drive hordes of people into the cryptosphere and would still insist on using their obsolete fiat because that's what their governments say. One can only hope, but it simply isn't enough.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Bonsaiav on April 09, 2019, 09:44:17 AM
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? ???

I personally really believe in the masterpiece created by Satoshi, bitcoin is unique rather than other currencies, besides because of its decentralization it also has extensive benefits and high credibility, I think this thing is what makes it resistant to shocks, especially unclear laws. However, if it begins to be associated with the existence of massive crypto adoption, I think this's far from a possibility as long as the government is still hostile to bitcoin and other cryptos.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: niteroy on April 09, 2019, 01:00:10 PM
If I am not mistaken, a crisis happens every 11 years and if the last world crisis occurred in 2008, then we should expect a new world crisis at the end of 2019 or in 2020, but this is only a guess. No one knows for sure what the situation with cryptocurrencies will be, but there is a possibility that in case of devaluation of national currencies of different countries, people will start buying cryptocurrencies in the hope that they will save their money this way. In this case, national currencies will fall even lower, and Bitcoin will rise even higher.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Juggy777 on April 09, 2019, 01:31:18 PM
If I am not mistaken, a crisis happens every 11 years and if the last world crisis occurred in 2008, then we should expect a new world crisis at the end of 2019 or in 2020, but this is only a guess. No one knows for sure what the situation with cryptocurrencies will be, but there is a possibility that in case of devaluation of national currencies of different countries, people will start buying cryptocurrencies in the hope that they will save their money this way. In this case, national currencies will fall even lower, and Bitcoin will rise even higher.

Hey crisis doesn’t have a fixed date they happen due to people not learning from their past mistakes, also there’re certain events which may trigger crisis this year. The most notable event is Brexit which shall plunge the European nations into chaos, there’s not much clarity what happens to the workers and students who stay back. The second crisis I feel is from the Asian country India, where if the ruling party is not elected markets shall crash badly, third and lastly if Kim launches a missile again we may just witness a global war.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Indamuck on April 09, 2019, 02:49:21 PM
I don't think the masses are ready for crypto adoption yet.  There is just too much risk for the average user, once your funds are stolen there is no chance to get them returned.  Average people are dumb and they don't want to be in charge of their own security, they feel safer with banks and credit cards.  I don't agree with them but this is how average people think.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on April 10, 2019, 12:44:40 AM
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.

Agree. Millennials would be the first ones to embrace new technologies. Due to this reason, it's very likely that they'll quickly get into crypto once a global economic collapse takes place in the future. On the other hand, most people from third world countries don't have access to the Internet which leaves them with only Gold and Silver as the only options to preserve their capital.

Still though, I believe that a massive downfall in the world's economy would allow cryptocurrencies to replace Fiat as the new money of the world. Given how banks and governments have become interested in Blockchain technology, I suppose that they will come up with a new digital currency solution for the world in order to solve the financial crisis. Since Blockchain tech is extremely cheap, yet efficient, it'll be such technology that will transform our economy for the better in the future.

Back in 2008, when there was a financial crisis worldwide, it wasn't a coincidence that Satoshi came up with a solution that's free from middlemen or third parties. It was for a reason, and that is to make people trust a system backed by math instead of corrupt entities.

Nonetheless, time will tell us what will happen within the next financial crisis whenever crypto will become more popular than ever, or government's digital currencies will reign supreme. Just my opinion :)


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Malsetid on April 10, 2019, 04:27:11 AM
I don't think the masses are ready for crypto adoption yet.  There is just too much risk for the average user, once your funds are stolen there is no chance to get them returned.  Average people are dumb and they don't want to be in charge of their own security, they feel safer with banks and credit cards.  I don't agree with them but this is how average people think.

Imagine of a massive economic collapse happened though? Fiat crashing, banks closing, finacial institutions in disarray. Would these aversge people look for an alternative? I think some will be open to it but most would just be looking for things ti settle down and normalize instead of embracing a new system.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: bonker on April 10, 2019, 04:31:56 AM
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? ???
It depends on when it happens,if it is gonna happen in near future then no it will not going to convince many people that cryptos can be good way to save us from further collapses because people still don't have enough knowledge about what is bitcoin.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: ausbit on April 10, 2019, 07:31:16 PM
~snip
In the third world, there are lots of people there are that are making use of internet, but whatever ;). I think the most important thing (best thing) anyone can do for themselves is getting a better job. I do see some people that say they rely on cryptocurrency, that’s funny to me, cause I really don’t know how people manage to make a living out of cryptocurrency, and I don’t really know why anyone would be considering cryptocurrency as a job.

I don’t think global economic collapse is going to happen. And not many people trust in bitcoin, there are other options people might go for, since they believe that it would be a better option for them than bitcoin. If you decide to choose bitcoin as an option for saving your wealth, anything can happen and the price will drop and you would lose your money. So, are you ready to take such a risk?


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Shenzou on April 10, 2019, 09:16:04 PM
If we see the economy goes to shit again, why do you think that people will relay on cryptocurrency to hold it up, i mean bitcoin and all the other currencies are pretty unstable and unpredictable and making them a solution to the economy at the state that they are now would be a foolish move, if the people were to resort to cryptocurrency they would create a new digital currency based on the fiat if the banking system would fail.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: magneto on April 10, 2019, 09:58:36 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? ???

I wouldn't be surprised if it did lead to an adoption wave. Though, there is no real way of actually predicting the nature of the next crisis, the magnitude, and the nations it hits.

If the economic crisis led to a virtually unusable/unstable fiat currency then it would be apparent that people will seek an alternative medium of exchange, since the fiat currency they are familiar with would be crumbling in value on a regular basis due to rampant inflation. It's not an impossible scenario by any means, just look at Argentina in the past, Zimbabwe, and now, Venezuela and Turkey.

Previously, people may look towards precious metals as a store of value in that kind of scenario, but I think that this time round in an inflationary crisis people would still want to transact normally without the hassle of physical transactions, whilst maintaining the currency's independence from fiat - which bitcoin orchestrates.

So in theory, yes, adoption should increase as people lose trust of fiat, but the extent at which it happens will depend on how the crisis itself pans out.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: vintages on April 10, 2019, 10:52:33 PM
I personally feel it has to do with trust and the psychological well-being of the people then. We all know that many people believe in fiat, so if fiat fail them, will they be that psychological stable to trust and put all their assets in cryptocurreny? They  may likely go for gold, silver and diamond that have always worked in the past.
Though, it also depends if Bitcoin have create a huge impact on the world prior before the supposed economic crisis. Since they have seen it work and have considerable trust in  it, they might opt in for it thus causing mass adoption.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: BTCevo on April 14, 2019, 08:06:04 AM
The price can surely go down at first, but it can recover and even increase soon afterwards if the global society finally gets sick of the mistakes and flaws of centralised systems with authorities.
The price going up or down isn't helping crypto in any way. What people need is money with a fixed unit value, where 1 unit = 1 unit regardless of what the latest forex rate is. Fiat is exactly that. Crypto is not, and might never be.

I don't have to worry about what happens today or tomorrow because I can use my money to buy what I want today, tomorrow, and the week after that. Crypto only adds problems and uncertainties as money.

I seriously believe that tokenized fiat in form of a stable fiat token is going to gain more and more ground as time goes by, because this is what offers people the convenience of crypto, and the unit value stability of fiat.
Where do you keep the place of anonymous in the cryptocurrency if the price of a coin is stable and fixed 1=1 then the cryptocurrency industry will lose it potency because it design to be unstable and unpredictable, even the faint money is also unstable if you truly understand the forest market you will agree with what am saying.

So you are saying that bitcoin can't never be stable because of the slowly of the adoption? What I do know is that bitcoin can't never be stable because there is always supply and demand, as long as the supply and demands keeps on high and low then it will never be stable no matrer what happens. So if there is some adoption which can be stable the price then it will not worth to be traded anymore


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: shoreno on April 14, 2019, 08:20:14 AM
Yes collapse can trigger a massive adoption  because this attracts alot of potential investors as well as existing crypto investors  . the harder the collapse the more coins they will buy  but aside from that , the pump or the bull can also attract investors to invest more and they wont mind buying the coins at a higher price because in their minds they think that they can still recover the money that they  put on   .  there are still alot of factors actually that can trigger mass adoption not only these two  .


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: klaaas on April 14, 2019, 08:27:28 AM
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.
If you take the bitcoin value against fiat it could be that way. But if you can trade a amount of bitcoin against xx goods  it could be sustainable next to fiat.

It is a trigger but not see it happen massively.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Kakmakr on April 14, 2019, 08:43:26 AM
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. <This is good in countries where the whole economy collapse and you need to relocate to another country without all the capital control restrictions.>  ;)


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: GunsLair on April 14, 2019, 09:57:16 AM
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.
If you take the bitcoin value against fiat it could be that way. But if you can trade a amount of bitcoin against xx goods  it could be sustainable next to fiat.

It is a trigger but not see it happen massively.

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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Ailmand on April 19, 2019, 02:44:29 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Febo on April 19, 2019, 03:43:32 PM
Will the next economic collapse trigger massive crypto adoption?

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!


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: cryptjh on April 19, 2019, 08:58:44 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: usorin on April 19, 2019, 09:03:48 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? ???
In crysis people are in search for viable options and i believe the altcoins offers an alternative to the fiat coins any time.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Rune on April 19, 2019, 10:33:10 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on April 20, 2019, 02:10:48 AM
In the third world, there are lots of people there are that are making use of internet, but whatever ;). I think the most important thing (best thing) anyone can do for themselves is getting a better job. I do see some people that say they rely on cryptocurrency, that’s funny to me, cause I really don’t know how people manage to make a living out of cryptocurrency, and I don’t really know why anyone would be considering cryptocurrency as a job.

I don’t think global economic collapse is going to happen. And not many people trust in bitcoin, there are other options people might go for, since they believe that it would be a better option for them than bitcoin. If you decide to choose bitcoin as an option for saving your wealth, anything can happen and the price will drop and you would lose your money. So, are you ready to take such a risk?

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 ;D


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: nur rochid on April 20, 2019, 04:40:48 AM
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.
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: jak3 on April 20, 2019, 04:49:41 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Netnox on April 20, 2019, 05:45:48 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: incomefromcoins on April 20, 2019, 08:14:50 AM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: mersal on April 20, 2019, 10:11:27 AM
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 .


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Barbut on April 20, 2019, 12:29:09 PM
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.
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 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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Kiweikoo on April 20, 2019, 09:11:00 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Russlenat on April 20, 2019, 11:31:52 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Artemis3 on April 21, 2019, 04:11:41 AM
Look at Venezuela and Zimbabwe or any other country with crumbling economy - do they have mass crypto adoption? The answer is no, even though the crypto media like to report how Bitcoin is saving lives there, it's still only a very small percentage of the population that is using it, and the government is quite aware of it and takes steps to stop it - in Venezuela they've released Petro, tried to outlaw Bitcoin, police robs miners and so on.

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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: S4VV4S on April 21, 2019, 04:23:09 AM
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.
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: playboy654 on April 21, 2019, 05:57:06 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Dart18 on April 21, 2019, 07:33:24 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: akram143 on April 21, 2019, 11:43:53 AM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: D3m1r4wanti on April 21, 2019, 12:34:09 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: AztecGoldHero on April 21, 2019, 12:57:50 PM
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 :D


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Xampeuu on April 21, 2019, 01:27:56 PM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: loopes on April 21, 2019, 02:51:58 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? ???
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: wuvdoll on April 21, 2019, 06:01:49 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Virtual miner on April 21, 2019, 06:10:41 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? ???
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: shesheboy on April 21, 2019, 07:53:35 PM
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  .


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Donceng on April 21, 2019, 10:59:33 PM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: samputin on April 22, 2019, 12:25:13 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Indrawan77 on April 22, 2019, 03:42:33 AM
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


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: qiwoman2 on April 22, 2019, 05:04:08 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: calandra78 on April 22, 2019, 06:04:10 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: maydna on April 22, 2019, 06:48:52 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: goaldigger on April 23, 2019, 10:22:44 AM
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? ???

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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: jrrsparkles on April 23, 2019, 10:27:49 AM
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? ???

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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: d1ceplayer on April 23, 2019, 11:10:20 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: romero121 on April 23, 2019, 11:28:43 AM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: GregH37 on April 24, 2019, 06:59:45 PM
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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Yakamoto on April 24, 2019, 08:14:31 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? ???

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.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: South Park on April 24, 2019, 11:17:00 PM

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.
While I would like to see people learning about what to do in the case hyperinflation strikes I am not optimistic about the amount of people which will be interested in such topic, if people learned from the mistakes of those that came before us then they will avoid hyperinflation in the first place by not allowing their governments to print as much money as they want, and yet every time governments do this most citizens instead of being worried are happy about it since they receive some benefits out of this for a short period of time.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on April 26, 2019, 02:06:20 AM
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.

That's certainly true, mate. But cryptocurrencies can become a safe store of value if people use them more thoroughly. Not to mention, there are a few cryptocurrencies with a deflationary design (like Bitcoin) that can be used for times of survival. Of course, market liquidity is highly important in order to successfully trade any cryptocurrency at will.

However, I believe that as time passes by, people will adapt to cryptocurrencies as they become more easier to use and stable across the market. Perhaps, after the next economic collapse, Bitcoin and other major cryptocurrencies will experience a greater level of adoption as people will look towards alternative ways to preserve their capital. Knowing that decentralized cryptocurrencies do not rely on Banks or governments it's good, since it brings a level of independency over your funds.

No matter if an economic collapse happens, crypto will always be there. On the other hand, Fiat currency will suffer from such drastic events leading many people to panic worldwide. Hence, one way or the other, people will adopt crypto at a large scale in the next downturn of the world's economy. Just my thoughts ;D


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: CTRLX on April 26, 2019, 06:39:31 AM
Personally, I agree with this view that the next economic collapse that will take place worldwide will trigger crypto adaption. Bitcoin may not be considered the safest port at this time, I think, this situation will change after e few years. Physical gold and silver are traditionally preferred instruments in times of crisis, that I also have little investment in this instruments but it isn't possible to directly transfer them, also very difficult to keep hide them.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Findingnemo on April 26, 2019, 12:51:45 PM
Personally, I agree with this view that the next economic collapse that will take place worldwide will trigger crypto adaption. Bitcoin may not be considered the safest port at this time, I think, this situation will change after e few years. Physical gold and silver are traditionally preferred instruments in times of crisis, that I also have little investment in this instruments but it isn't possible to directly transfer them, also very difficult to keep hide them.
People always use gold to stay away from crisis so bitcoin may not be the most preferred one for the tradtional people and who also don' have knowledge about cryptos.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: BeGoods on April 26, 2019, 01:53:29 PM
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.
I think so, but I disagree if you keep your wealth in alcohol or weapons, when inflation or collapse occurs in many countries surely many people will save their wealth in commodities that avoid the inflationary wave. gold, silver, or crypto might be the main choice.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: jjjfff on April 26, 2019, 01:57:45 PM
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.

I just hope they don't use the guns and alcohol combined after they miss the Bitcoin train reaching $ 100k!



Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on April 29, 2019, 04:24:08 PM
Personally, I agree with this view that the next economic collapse that will take place worldwide will trigger crypto adaption. Bitcoin may not be considered the safest port at this time, I think, this situation will change after e few years. Physical gold and silver are traditionally preferred instruments in times of crisis, that I also have little investment in this instruments but it isn't possible to directly transfer them, also very difficult to keep hide them.

Well, Bitcoin may still struggle with volatility and lack of regulation, but it has a deflationary design which allows it to be used as a store of value. Once the inherent issues within the pioneer cryptocurrency are solved, it's expected that people will join it altogether. The Lightning Network brings exciting use cases for the Bitcoin blockchain, while the Dandellion Protocol will strengthen its privacy. Not to mention, governments have been taking a friendly stance towards Bitcoin and other cryptocurrencies, which will help attract newcomers into crypto land.

Once the next economic collapse turns in, I'd bet that more people will look for alternative ways to secure their money. Of course, we already got Gold and Silver but those are old methods of securing money which are not exactly portable as Bitcoin is. Since it's easier to store cryptocurrencies without carrying them physically (with bulky storage cases, etc), it'll be the next big thing in finance. Before you know it, people will fully transition from precious metals into Bitcoin and other popular cryptocurrencies.

After all, the benefits of using Bitcoin are numerous. But, the current situation of crypto land, will prevent mainstream adoption as we know. Hence, it might take quite some time before people will be able to fully adapt into Bitcoin and other cryptocurrencies even after the next economic collapse. Just my thoughts ;D


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: andriarto on April 30, 2019, 02:07:34 AM
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.
I think so, but I disagree if you keep your wealth in alcohol or weapons, when inflation or collapse occurs in many countries surely many people will save their wealth in commodities that avoid the inflationary wave. gold, silver, or crypto might be the main choice.

I am not sure if the crypto war will be adopted for investment. when the war is certainly a lot of damaged electricity and internet networks, maybe gold and silver are the choices, because they are tangible, especially now crypto does not yet have full trust


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: alyssa85 on April 30, 2019, 03:20:41 AM

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.

It was obvious Venezuela was in trouble back in 2013, when the bitcoin price was only $300. The trouble is, people were reluctant to take action, I think they hoped things would improve.

By the time they did take action and started moving money into bitcoin, it was 2017, bitcoin's price was in excess of $7000 and the Venezuelan Bolivar had collapsed in value, making it too expensive to buy bitcoin unless you were rich.

As always the early movers have an advantage. After you get to a tipping point towards disaster, even if you want to protect yourself, you can't.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: brotherwood12 on April 30, 2019, 09:15:10 AM
i think it will be , people really need transaction with more pleasure and bitcoin is the answer for me, the Anonymous system is what we need rightnow


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: South Park on April 30, 2019, 04:32:41 PM
Personally, I agree with this view that the next economic collapse that will take place worldwide will trigger crypto adaption. Bitcoin may not be considered the safest port at this time, I think, this situation will change after e few years. Physical gold and silver are traditionally preferred instruments in times of crisis, that I also have little investment in this instruments but it isn't possible to directly transfer them, also very difficult to keep hide them.
People always use gold to stay away from crisis so bitcoin may not be the most preferred one for the tradtional people and who also don' have knowledge about cryptos.
People are used to use gold and silver when that happens but we also know that in the recent past governments outlawed the possession of gold from their citizens and even commanded them to turn their gold to them for a discounted price and it is likely it is going to happen again, gold has the disadvantage that it is very difficult to conceal while this is not the case with bitcoin in which you do not need to have anything with you as long as you know your seed words and that is a great advantage under those conditions.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on May 11, 2019, 01:26:40 AM
People are used to use gold and silver when that happens but we also know that in the recent past governments outlawed the possession of gold from their citizens and even commanded them to turn their gold to them for a discounted price and it is likely it is going to happen again, gold has the disadvantage that it is very difficult to conceal while this is not the case with bitcoin in which you do not need to have anything with you as long as you know your seed words and that is a great advantage under those conditions.

Well, Bitcoin and physical gold have their respective advantages/disadvantages. While Gold can be used offline for emergency situations, it can be easily banned by a government. On the other hand, it's quite difficult to use Bitcoin offline but it's a resilient store of value which is capable of withstanding censorship from a government. I believe that Bitcoin and other cryptocurrencies have quite an advantage over precious metals in this regard.

When the next economic collapse comes in, people will seek out for alternative ways to secure their capital. And what better way than doing so with crypto, as it provides people with complete control over their funds. It's much easier to hide private keys of a cryptocurrency, than doing so with Gold or Silver. Considering how everything is becoming interconnected, the next economic collapse might well bring an upsurge in the demand of crypto. Just my opinion :)


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: wuvdoll on May 11, 2019, 04:52:54 PM
I am not entirely sure it will do that. I mean after all holding bitcoin is more important right now since it is going up and we do not know when it will stop, same would happen with a huge economic collapse because people want to keep their profits and not spend it on things. Will it create a huge adoption with many more people investing into bitcoin ? For sure. Will it make it like every day usage of bitcoin becomes big? I doubt so.

Everyone in the world uses fiat currency, even the most avid crypto users still pay their bills with fiat so there is no way we can stop or slow down the fiat currency in our world unless it does it to itself. Bitcoin could only survive as a side investment like gold or silver or even maybe stock markets as long as fiat currency holds the top position.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: BitHodler on May 11, 2019, 09:43:35 PM
Bitcoin could only survive as a side investment like gold or silver or even maybe stock markets as long as fiat currency holds the top position.
That's perfectly fine. The less you mess with fiat currencies, therefore not form a threat to them, the less likely it is for them to ban Bitcoin. Governments just want their fiat currencies to be the main form of money.

That being said, Bitcoin won't likely scale to have the world or even hundreds of millions of people use it at the same time. Another thing is that doesn't have a fixed unit value, so why would people use Bitcoin over fiat?

Fiat works perfectly fine for me. No one has ever tried to prevent me from grocery shopping with my money, neither have my coffee payments been blocked. Bitcoin doesn't offer one single advantage in this specific field of use.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: incomefromcoins on May 12, 2019, 06:47:39 AM
Already the situation is clearly visible in South America countries like Argentia and Venezuela country affected due to hyperinflation now crypto is main source of  transaction


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: CryptoBry on May 12, 2019, 02:02:15 PM
Already the situation is clearly visible in South America countries like Argentina and Venezuela country affected due to hyperinflation now crypto is main source of  transaction

It would be exciting to see how people will be reacting to Bitcoin once there can be a global crisis akin to 2008. Will they go for the real gold or Bitcoin its digital version?  What we are seeing in Venezuela is that there are many people who are using it to survive buying foods in nearby countries because their own fiat money bolivar is practically worthless. I am sure that there can be a big economic crash, people will look at Bitcoin as an alternative to protect their wealth though some might be discouraged by its volatility unlike the real gold. Though we should not be wishing for a crisis but once there will be it can be worth watching how the market will do with Bitcoin.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: mbluxs on May 12, 2019, 04:43:58 PM
Already the situation is clearly visible in South America countries like Argentia and Venezuela country affected due to hyperinflation now crypto is main source of  transaction
with the existence of countries that adopt crypto, of course this is good news from the development of crypto. surely one day I'm sure there will be other countries that will follow the two countries and crypto will be increasingly supported, especially with the current technological sophistication.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: jonaire99 on May 13, 2019, 08:39:25 AM
Bitcoin is demand in some troubled countries in south america lime Venezuela after their currency losses its value in hyperinflation causing their economy to collapsed. According to some online report, bitcoin trading hit an all-time high as the political tension is reaching also the boiling point. But there is still no assurance if a worldwide economic crisis will result into further adoption of bitcoin as a store of value.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Umkar on May 13, 2019, 04:02:16 PM
I think crises and inflation cause people to think that Bitcoin is a new form of money that exists and works according to different rules, unlike fiat currency. But I think the crisis is not very conducive to the adoption of cryptocurrencies. The rise in Bitcoin prices has a much stronger effect on the adoption of cryptocurrencies, because rising prices attract people and they begin to talk about it more often, to be interested in and study it.


Title: Re: Will the next economic collapse trigger massive crypto adoption?
Post by: Abiky on May 15, 2019, 02:35:13 AM
That's perfectly fine. The less you mess with fiat currencies, therefore not form a threat to them, the less likely it is for them to ban Bitcoin. Governments just want their fiat currencies to be the main form of money.

That being said, Bitcoin won't likely scale to have the world or even hundreds of millions of people use it at the same time. Another thing is that doesn't have a fixed unit value, so why would people use Bitcoin over fiat?

Fiat works perfectly fine for me. No one has ever tried to prevent me from grocery shopping with my money, neither have my coffee payments been blocked. Bitcoin doesn't offer one single advantage in this specific field of use.

Fiat may work fine in the time being, but it's subject to manipulation from the government. In contrast, Bitcoin is an open system where no single entity is in control of its supply, emission rate, or digital structure. It's a form of alternative payment system in relation to Fiat or other precious metals in existence. If by any means, our economy collapses in the same way as 2008, then people will become desperate looking for other means to secure their capital.

Considering that Bitcoin and other cryptocurrencies are highly portable, censorship-resistant, and partially anonymous, they're even better than precious metals. One could easily transact in crypto, by simply having access to an Internet connection. Also, it's much more convenient (and easier) to store crypto in small places where Fiat or precious metals cannot be hidden into. Crypto can be used in harsh conditions in the real world, even if Fiat fails and precious metals (like Gold) are taken away by the government.

Nonetheless, as time goes by, Bitcoin and other cryptocurrencies will scale enough to handle most of the world's transactions. And once the next economic collapse happens, people will be ready to do the switch into something decentralized which is out of government's reach. Just my thoughts ;D