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Author Topic: Bitcoin getting in to economic crisis  (Read 1579 times)
ripplehd
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July 14, 2016, 09:38:01 AM
 #1

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

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July 14, 2016, 11:04:21 AM
 #2

This wont happen, lets be realistic bitcoin has a market capitalization of milions and no one can make it go down soo deeply, making wallets companies take their service and our coins. The financial problems around several countries is making people choose to risk to loose the money to the country or to invest and hide it at bitcoin.
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July 14, 2016, 11:12:11 AM
 #3

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

This is not going to happen at all. Bitcoin will not going to experience economic crisis. With large amount of money being invested investors and all elites behind bitcoins will find solutions so as not to lose billions of dollars. The only reason that things will come to this if a major disaster will hit earth like a meteor strike so devastating that all telecommunications and electricity goes down.
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July 14, 2016, 11:19:40 AM
 #4

I think it wont happen as many people already supporting it. With huge capitalization and reaching almost all nations its hard to  stop it. As long as tehres electricity,telecoms and network of computers it will exist. Even tech companies and several IT giant are riding and incorporating this technology on their services.


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July 14, 2016, 11:25:35 AM
 #5

If a global economic crisis will take place, Bitcoin will be affected too, it won't escape this easy. The only way BTC can fall down to 0$ is by shutting down the energy worldwide, but that makes all the currencies worthless, and Gold and Silver would become the only currencies worth something in this world. Small chances of this happening soon, higher chances of this happening in the next ~10 years.
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July 14, 2016, 03:20:36 PM
 #6

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

I think this is the reason why Bitcoin is created,  money is produced instantly whenever the government wanted.  Thus making it inflationary and resulting to  economic crisis.  Since Bitcoin has finite number, and the coin produced is designed as how the gold is mine, there is a slim chance that bitcoin will have a fast decline.

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July 14, 2016, 03:26:06 PM
 #7

If a global economic crisis will take place, Bitcoin will be affected too, it won't escape this easy. The only way BTC can fall down to 0$ is by shutting down the energy worldwide, but that makes all the currencies worthless, and Gold and Silver would become the only currencies worth something in this world. Small chances of this happening soon, higher chances of this happening in the next ~10 years.
I agree, an economic crisis is a global phenomenon which affects all people (even the ones not using computers or even linked to the market in any sort (like the revolts from poor countries over the increasing price of food)).
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July 14, 2016, 03:28:36 PM
 #8

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

I think this is the reason why Bitcoin is created,  money is produced instantly whenever the government wanted.  Thus making it inflationary and resulting to  economic crisis.  Since Bitcoin has finite number, and the coin produced is designed as how the gold is mine, there is a slim chance that bitcoin will have a fast decline.
Bitcoin may have a finite number, but it's easy to bypass. If banks and companies start using bitcoin massively similar mechanisms than the ones seen today may be created which could lead to an increase of money supply via indirect money creation (set by liquidity ratios for instance).
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July 14, 2016, 05:17:44 PM
 #9

If a global economic crisis will take place, Bitcoin will be affected too, it won't escape this easy. The only way BTC can fall down to 0$ is by shutting down the energy worldwide, but that makes all the currencies worthless, and Gold and Silver would become the only currencies worth something in this world. Small chances of this happening soon, higher chances of this happening in the next ~10 years.
I agree, an economic crisis is a global phenomenon which affects all people (even the ones not using computers or even linked to the market in any sort (like the revolts from poor countries over the increasing price of food)).

I agree that Bitcoin will be 'affected,' but most likely in a positive way.  Since all major circulating currencies are issued by states, in an economic crisis (say, collapse of debt values or stock markets leading to loss of savings and jobs,) the states will most likely try to 'solve' the problem by creating more currency.  In fact, this seems to be the only trick the authorities know.  In this inflationary scenario, the limited quantity of Bitcoin will serve as an inflation hedge, and savers will likely go into Bitcoin (and other limited-quantity assets.)
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July 14, 2016, 05:26:02 PM
 #10

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.
Quite not clear what you are refering to saying blocked halfway Huh
If you are talking about some countries considering bitcoin illegal to exchange than there are not many such type of country. In most of the countries bitcoin is being traded and being used even in local merchant level. So i am not seeing anything like bitcoin lossing total movementum due to any such banning etc.

Talking about price it may go down and go up which is normal and depends upon lots of fact, there are not such term like economic crisis for bitcoin.

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July 14, 2016, 05:30:12 PM
 #11

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

I think this is the reason why Bitcoin is created,  money is produced instantly whenever the government wanted.  Thus making it inflationary and resulting to  economic crisis.  Since Bitcoin has finite number, and the coin produced is designed as how the gold is mine, there is a slim chance that bitcoin will have a fast decline.
Bitcoin may have a finite number, but it's easy to bypass. If banks and companies start using bitcoin massively similar mechanisms than the ones seen today may be created which could lead to an increase of money supply via indirect money creation (set by liquidity ratios for instance).

In that scenario, existing Bitcoin holders will get rich.

Also, if banks, corporations, and governments build leveraged assets on top of Bitcoin (say, by issuing Bitcoin IOUs backed by the 'full faith and credit' of the government,) even though the system is still subject to manipulation by the elites at the core, just because money (Bitcoin) is now a non-state-issued, limited-quantity asset, the pace of asset inflation and all the associated problems will grow slower than under fiat money, over the long term.

This would be similar to the gold standard, when financial busts tended to cause immediate pain as central banks couldn't rescue the system by creating so much money, but, over the long term, financial inflation (with all its perverse economic and social incentives) was also slower than during the fiat era.
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July 14, 2016, 07:09:09 PM
 #12

If a global economic crisis will take place, Bitcoin will be affected too, it won't escape this easy. The only way BTC can fall down to 0$ is by shutting down the energy worldwide, but that makes all the currencies worthless, and Gold and Silver would become the only currencies worth something in this world. Small chances of this happening soon, higher chances of this happening in the next ~10 years.
I agree, an economic crisis is a global phenomenon which affects all people (even the ones not using computers or even linked to the market in any sort (like the revolts from poor countries over the increasing price of food)).

When people lose confidence in the fiats, they might use the bitcoin or the Ethereum as a safe haven.













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July 14, 2016, 10:16:51 PM
 #13

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.
I would think that just the opposite of what you're saying would happen. People would be attracted to Bitcoin because of the economic crisis, and Bitcoin could be an alternative to gold and silver for the more tech savvy people out there.

This is already happening on a small scale.

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July 15, 2016, 06:53:34 PM
 #14

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.
I would think that just the opposite of what you're saying would happen. People would be attracted to Bitcoin because of the economic crisis, and Bitcoin could be an alternative to gold and silver for the more tech savvy people out there.

This is already happening on a small scale.

Economic crisis is just a catalyst to attract people to bitcoin. But gradually, people will start using the bitcoin.













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outatime1
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July 15, 2016, 09:17:36 PM
 #15

Bitcoin could definitely fail and we should be prepared for that, but I think it is unlikely at least for a few years. It could catch on big and we could be very wealthy, there's just no way to know. We are dealing with a high risk investment right now.
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July 16, 2016, 06:29:11 AM
 #16

Bitcoin could definitely fail and we should be prepared for that, but I think it is unlikely at least for a few years. It could catch on big and we could be very wealthy, there's just no way to know. We are dealing with a high risk investment right now.

nah i do't see that, no one who bought at those level will sell it ever, the only possibility would be if bitcoin face a serious bug/exploit, that was not discovere in the code, and lead to a panic dump

this possibility is very remote, i'm not betting on it...
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July 16, 2016, 07:10:57 AM
 #17

With the current rate of bitcoins is going I don't see any real crisis will happen, if you will see that price are falling back hard for me that is just a manipulated event and I believe price will be back to normal and will consistently increase.

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davis196
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July 16, 2016, 10:15:31 AM
 #18

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

If you are afraid of online wallets just use PC or mobile wallets.Not a big deal...

I don`t know about any "escalating problems" with fiat money.What are you talking about?

An economical crysis should have both positive and negative impact  over bitcoin.

The question is which impact will influence btc more.
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July 16, 2016, 11:18:05 AM
 #19

In the future, you can use the bitcoin wallet integegraged into your smart phone, like the fiat. So it is easy to use.
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July 16, 2016, 11:58:06 AM
 #20

Nothing is assured, so there are more possibilities for anything to happen. In my view, even during the days of hard economic collapse of the world economy bitcoin was in the rise. For this reason I feel bitcoin won't fail even if it meets several crisis.

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