Big Crash coming

[cjmoles]

Q1 Growth Estimate Implodes. Bad news gets worse for U.S. economy.
Last week the news about the U.S. economy was bad … this week it got downright terrible.
After watching first quarter gross domestic product (GDP) growth estimates slide from 2.7 percent all the way down to 1.4 percent last week, the latest estimate from the Atlanta Federal Reserve bank for the current quarter clocked in at an anemic 0.6 percent.

http://www.fitsnews.com/2016/03/28/q1-growth-estimate-implodes/

So, you seem to be paying attention to the right indicators....Question: What do you think about the state of our current financial situation?  Do you think that it is vulnerable?  How big of a bank run would be necessary to create an avalanche?

I'm not as pessimistic as the OP but the structure of the west's financial systems seem very precariously situated at best....How long can we allow ourselves to run in the red before we figure out that we're digging ourselves a deeper and deeper hole?

I don't know....major shifts are in the works!  When it comes down to it, knowledge will rule....not money!  Peer to peer networking is where the REAL value seems to exist.  Manual labor seems to be taking a back seat to intellectual labor....it's scary in my opinion!

[jkrules]

actually the price is rising now and halving is coming. did you mean halving is the crash?

I don't have any idea why were you pretty sure a crash will happen in this year. let me know.

it have never happen. Yes the situation is not proper at the moment.
But if you think about it, low oil prices are also helping the economy. It's in general not a burden.
So probably the 2016 will end like the years before Without any big crash.

[USB-S]

I'm not as pessimistic as the OP but the structure of the west's financial systems seem very precariously situated at best....How long can we allow ourselves to run in the red before we figure out that we're digging ourselves a deeper and deeper hole?

The united state government has already detached itself from banks by implementing bail-in infrastructure. They know that the dollar isn't functioning as well as it used to, so they're trying to stall the collapse as much as possible. Anything that they do won't change the final outcome, dollar is broken and a ticking time bomb.

I don't know....major shifts are in the works!  When it comes down to it, knowledge will rule....not money!  Peer to peer networking is where the REAL value seems to exist.  Manual labor seems to be taking a back seat to intellectual labor....it's scary in my opinion!

Machines have been stealing manpower since the beginning of time.
Self driving cars will most likely be the biggest hit on manual labor that I foresee, but until we hit AI singularity, there will be no shortage of new jobs within the tech industry.

[DashCoinDark]

actually the price is rising now and halving is coming. did you mean halving is the crash?

I don't have any idea why were you pretty sure a crash will happen in this year. let me know.

it have never happen. Yes the situation is not proper at the moment.
But if you think about it, low oil prices are also helping the economy. It's in general not a burden.
So probably the 2016 will end like the years before Without any big crash.

I also think that it will not happen this year, because we all can see that the value now around this time is not even rising and that is not good for the halving and for people that is waiting for a price increase.
Everyone wants to make profit fast with Bitcoin but that is not possible now so we have to trade or gamble to make more money.

[Wendigo]

The halving is supposed to increase the value not decrease it. I don't think we will see a crash as big as when that $1200 bubble bursted because that super-pump was orchestrated by the speculators and everyone was riding the Bitcoin rocket to the Moon. However if the value of Bitcoin really plummets to the $200 level everyone will incur big losses and I am not sure we will ever recover from that.

[tyz]

No, this thread is mainly about world economy crash not acutally Bitcoin crash. But some here also talk about an upcoming Bitcoin crash (what I personally do not believe).

actually the price is rising now and halving is coming. did you mean halving is the crash?

I don't have any idea why were you pretty sure a crash will happen in this year. let me know.

[cjmoles]

I'm not as pessimistic as the OP but the structure of the west's financial systems seem very precariously situated at best....How long can we allow ourselves to run in the red before we figure out that we're digging ourselves a deeper and deeper hole?

The united state government has already detached itself from banks by implementing bail-in infrastructure. They know that the dollar isn't functioning as well as it used to, so they're trying to stall the collapse as much as possible. Anything that they do won't change the final outcome, dollar is broken and a ticking time bomb.

I don't know....major shifts are in the works!  When it comes down to it, knowledge will rule....not money!  Peer to peer networking is where the REAL value seems to exist.  Manual labor seems to be taking a back seat to intellectual labor....it's scary in my opinion!

Machines have been stealing manpower since the beginning of time.
Self driving cars will most likely be the biggest hit on manual labor that I foresee, but until we hit AI singularity, there will be no shortage of new jobs within the tech industry.

These are very true.  What I think is being underestimated in our contemporary understanding of economics and what I believe is being evaluated frantically behind closed doors is what I think of as "hive economics."  In my mind it is sorta of like measuring a GDP or a labor pool, only less obvious, tangible, and quantitative.  It is only in recent times that information has been being gathered and processed in real time to derive "pictures" of how things work economically in the global "hive."  This new way of processing information has a means of being monetized that is only now being contemplated....For example, intellectual properties are becoming units of currency without a necessity to have a middle agent to exchange value, contracts being deployed, ratified, and enforced without the need for judges, lawyers, or enforcement agencies....etc.  It's not just the way we exchange and attribute value to goods and services that's being replaced, but it's a complete juxtaposition of the way we MEASURE their value.  

I know this is an abstract view but I can't think of another way to illustrate what seems to be happening as a consequence of this new information processing revolution that's beginning.

[KennyR]

For a long time bitcoin price is on the increasing side. Only small fluctuations were experienced during the past few weeks. So I don't think something as a big crash gonna take place.

[Denker]

For a long time bitcoin price is on the increasing side. Only small fluctuations were experienced during the past few weeks. So I don't think something as a big crash gonna take place.

Oh man!
My friend have you read the op? I guess not!
He is not speaking about a crash of Bitcoin.
It's the economy he believes will go down and crash.And therefore he predicts a price of $10.000 for Bitcoin.

Next time you and a few others here as well should read page 1 before posting anything.That was embarrassing!

[Olaf]

For a long time bitcoin price is on the increasing side. Only small fluctuations were experienced during the past few weeks. So I don't think something as a big crash gonna take place.

Oh man!
My friend have you read the op? I guess not!
He is not speaking about a crash of Bitcoin.
It's the economy he believes will go down and crash.And therefore he predicts a price of $10.000 for Bitcoin.

Next time you should read page 1 before posting anything.That was embarrassing!

Most people read the 1st sentence super fast?

His comment with the whole 2008-09 crisis with mbs being sold to investors by the banks.. is not gonna happen.

There will be another financial thing, but it`ll be a different product and his point is all based on if everyone found out about bitcoin.. then invested.

Which would support his buy orders, but that wont be the case.

[Blackmet]

I don't belive in crashes cause my good friend told me don't listen to prophets and you will be safe.

[cjmoles]

I don't belive in crashes cause my good friend told me don't listen to prophets and you will be safe.

True...Sometimes.  You'd have to admit that the concept of currency has been re-examined over the past few years.  The research that's been accumulated surrounding information mining and peer to peer networking has had a tremendous impact on how value is calculated within the markets. I believe that we are right in the middle of a major shift in economics....Let us hope that it doesn't crash the economy!

[KennyR]

actually the price is rising now and halving is coming. did you mean halving is the crash?

I don't have any idea why were you pretty sure a crash will happen in this year. let me know.

Crash often takes place with bitcoin. If the price of bitcoin doesn't go high on halving or doesn't have much effect on halving, it might be a big crash of all time.

[gablay12]

  What would you do if BTC price jumped 600 USD AFTER halving and dropped 300 USD after; s7, avalon6 do not have ROI.

  What would you do?Close your farm, rig?Buy new high efficiency miners?

  Do you have plans for such scnerios?

[Laosai]

  What would you do if BTC price jumped 600 USD AFTER halving and dropped 300 USD after; s7, avalon6 do not have ROI.

  What would you do?Close your farm, rig?Buy new high efficiency miners?

  Do you have plans for such scnerios?

That sounds like something far possible. A huge rise just after halving because of the mindset of most users. Then 90% of holders selling at the same time causing a huge crash. That's exactly what's going to happen in my oppinion.

[haileysantos95]

  What would you do if BTC price jumped 600 USD AFTER halving and dropped 300 USD after; s7, avalon6 do not have ROI.

  What would you do?Close your farm, rig?Buy new high efficiency miners?

  Do you have plans for such scnerios?

That sounds like something far possible. A huge rise just after halving because of the mindset of most users. Then 90% of holders selling at the same time causing a huge crash. That's exactly what's going to happen in my oppinion.

That is really far from happening,the price of bitcoin will not jump that fast but it will gradually get to 600 in 3-4 months then it might drop but not in 300.

[gablay12]

          If you mine gold, there is a cost to mine the ounce of gold.If you do not profit you do not mine.The supply will decrease while the demand is stable the gold price increase.

          Same for BTC.If the cost of mining BTC is more then the value and everybody stops mining there will be a point before balancing the supply demand where there will be a need for hash.

          If investors switch to Ether or other altcoins it will be very difficult to obtain enough hash power for transactions.

          If there was a stastical data for the number of people holding BTC and BTC per account it would be easier to make predictions.

[Monnt]

This guy made my day. Cool story bro. I'm off to sleep now.

Look where we are now. Nowhere near 10k, but stuck between $400 and $450.

          If investors switch to Ether or other altcoins it will be very difficult to obtain enough hash power for transactions.

That's why ETH is switching to POS in 2017. Yay.

[ronaldinho_07]

I dont know till which point the halving may affect the price,because last year we were at 200-250 dollars and january we had almost hitted the 500 dolalrs ,soo this pumpe has been made soo maybe the halving price has already the current one at the 400 dollars.Nothing happened last year to force and to support the current value.

[malzahar]

This guy made my day. Cool story bro. I'm off to sleep now.

Look where we are now. Nowhere near 10k, but stuck between $400 and $450.

          If investors switch to Ether or other altcoins it will be very difficult to obtain enough hash power for transactions.

That's why ETH is switching to POS in 2017. Yay.

Not that I`m a big fan for alt coins, due to previous past that I seen for pump and dumps.

Whats the POS you are referring to? is that something that has an edge over bitcoin?