The next financial crisis and Bitcoin

[goinmerry]

Maybe the next financial is already starting today. Has anyone seen this news?

https://www.youtube.com/watch?v=qoA-rlpVJp0

Ron Paul is claiming that the US Dollar will collapse on September 27, 2016. That is today! He is also saying that gold's price will go to infinity. Bitcoin could also possibly be one of the safe havens where the people outside of the community can store their wealth. Now might be a good time to start talking and educating about Bitcoin.

No way that could happen. I understand how truly strong USD is and do you think they will ler this happen. Large investors will be fucked up with this. Do you thing they will let that happen? Firsr there will be news about a lot of money transferring from USD to another currency.

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[Wind_FURY]

I am aware that the US will not allow that to happen. They have too much power and influence and it will be against China's best interest if the $ goes down in value. It is a known fact the China holds a lot of $ and also holds a lot of US debt. They might even be helping the US behind the scenes to keep it from collapsing.

I was just posting that news only because it is an extreme prediction and something that might be to the benefit of Bitcoin.

[Kakmakr]

There are nothing wrong with the protection of your wealth in uncertain economic times, but too much hoarding will also slow down adoption and growth. If nobody is selling any coins and/or using them, the merchants will stop accepting it as a payment method. There needs to be a fine balance between the bitcoins being used and the bitcoins being hoarded.

I try to hoard about 80% of my coins, but still use about 20% to stimulate the Bitcoin economy. ^smile^

[Fraxinus]

I am aware that the US will not allow that to happen. They have too much power and influence and it will be against China's best interest if the $ goes down in value. It is a known fact the China holds a lot of $ and also holds a lot of US debt. They might even be helping the US behind the scenes to keep it from collapsing.

I was just posting that news only because it is an extreme prediction and something that might be to the benefit of Bitcoin.

Yeah actually that's true,China will try to help if anything happens,I think the BTC may actually benefit from a situation where the currency crashes and people turn to BTC and then BTC price will rise

[deisik]

Yeah, we all know that war is peace and failure is definitely a success

And what are you going to say next?  Why stop half way and not speculate further that Bitcoin, for example, is going to collapse to $100 in 2017? Indeed, this is not as much as proclaiming Bitcoin dead, that Bitcoin has no future as a protocol, or blah, blah, blah, but that would still be quite in line with your previous predictions and prophecies, wouldn't it?

Bitcoin is listed in different exchanges and the price always moves up, down or sideways. How can someone interested in trading it not make his or her own speculations. Yes I admit that I could be wrong from time to time and I would be the first to admit that but that will not stop me or anyone else to make our speculations are predictions public even if it is right or wrong. There was a reason why the speculation part of the forum was created. If it affects you in a negative way then it is not my problem

We all perfectly well know and understand that your main issue with that thread was not speculation or guessing. It was your contemptuous attitude toward and wilful defiance against folks here that you have shown and which stirred up so much hatred and discord. Now that you are on a signature campaign you seem to be more responsible in what to say and which words to use. But you won't get away with that until you publicly admit that such attitude is totally unacceptable...

And now you seem to have locked that thread, have you?

[Wind_FURY]

There are nothing wrong with the protection of your wealth in uncertain economic times, but too much hoarding will also slow down adoption and growth. If nobody is selling any coins and/or using them, the merchants will stop accepting it as a payment method. There needs to be a fine balance between the bitcoins being used and the bitcoins being hoarded.

I try to hoard about 80% of my coins, but still use about 20% to stimulate the Bitcoin economy. ^smile^

But is it really the ordinary user's fault? If you check the Bitcoin's rich list you will see and realize that they are the individuals who are really hoarding most of the coins. If there is someone who holds the responsibility to use the coins for the sake of the Bitcoin economy, it is them. It is also in their interest to do so to avoid stagnation for their coins.

[talkbitcoin]

There are nothing wrong with the protection of your wealth in uncertain economic times, but too much hoarding will also slow down adoption and growth. If nobody is selling any coins and/or using them, the merchants will stop accepting it as a payment method. There needs to be a fine balance between the bitcoins being used and the bitcoins being hoarded.

I try to hoard about 80% of my coins, but still use about 20% to stimulate the Bitcoin economy. ^smile^

But is it really the ordinary user's fault? If you check the Bitcoin's rich list you will see and realize that they are the individuals who are really hoarding most of the coins. If there is someone who holds the responsibility to use the coins for the sake of the Bitcoin economy, it is them. It is also in their interest to do so to avoid stagnation for their coins.

can you shoe us this rich list i would love to see the list and also know who are these people who are hoarding bitcoin.

mainly because as far as i know, these lists are only having addresses with big amounts of bitcoin on them and they are mostly belonging to the major businesses like exchanges for example and we never know one person that has a big balance because they are careful and spread it among multiple btc addresses.

[Doamader]

Besides exchanges several casinos has a huge volume of coins, but sure exchange holding the big portion of coins in circulation, bitcoin its independent if fiat find a problem, the result should be bitcoin more stronger, as people wont sell their coins soo cheap as they do now.

[davis196]

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

The financial industry is going forward to the next big crisis with those negative interest rates.

I`m still not sure if bitcoin is strong enough to be an alternative of the bank system and fiat money.

We have to support it and promote it even more.

[vero]

We should have reason to believe that the next financial crisis that had a magnitude as big as the one during 2008 will be a test on Bitcoin as sound money. Please read the Bitcoin white paper if you still have not done so. In the paper it cites some instances in the modern banking system where Satoshi does not agree with or what he sees as wrong. I think the 2008 financial crisis was a big motivator for him to create the Bitcoin protocol to prove that we can have a currency that is free from the influence of banks. Before another financial crisis happens we should keep hoarding as much BTC as we can.

Thoughts?

gold will become an investment option for most people in the world when the next financial crisis occurs but if it happens in the near future and the gold supply stock is thinning so bitcoin can be another choice because the price of bitcoin is currently quite high and strong.

[Wind_FURY]

There are nothing wrong with the protection of your wealth in uncertain economic times, but too much hoarding will also slow down adoption and growth. If nobody is selling any coins and/or using them, the merchants will stop accepting it as a payment method. There needs to be a fine balance between the bitcoins being used and the bitcoins being hoarded.

I try to hoard about 80% of my coins, but still use about 20% to stimulate the Bitcoin economy. ^smile^

But is it really the ordinary user's fault? If you check the Bitcoin's rich list you will see and realize that they are the individuals who are really hoarding most of the coins. If there is someone who holds the responsibility to use the coins for the sake of the Bitcoin economy, it is them. It is also in their interest to do so to avoid stagnation for their coins.

can you shoe us this rich list i would love to see the list and also know who are these people who are hoarding bitcoin.

mainly because as far as i know, these lists are only having addresses with big amounts of bitcoin on them and they are mostly belonging to the major businesses like exchanges for example and we never know one person that has a big balance because they are careful and spread it among multiple btc addresses.

Ok I admit that it will be hard to pinpoint any person who holds a large amount of Bitcoins because they might be spreading them out in multiple wallets. But what I am saying is still true. There are Bitcoin millionaires who hoard as much coins as they can. They are the people who are the real impediment in the Bitcoin economy. Most of the ordinary users of this forum do not have much Bitcoins and only get what they can thru faucets and signature campaigns. So why put the responsibility of the Bitcoin economy on their shoulders? That is unfair.

[Samadur]

Bitcoin is becoming more popular and stronger when the centralized currency suffers setbacks. However, Bitcoin can not be trusted completely. When using it, there are many risks that need to be taken into account

[deisik]

There are nothing wrong with the protection of your wealth in uncertain economic times, but too much hoarding will also slow down adoption and growth. If nobody is selling any coins and/or using them, the merchants will stop accepting it as a payment method. There needs to be a fine balance between the bitcoins being used and the bitcoins being hoarded.

I try to hoard about 80% of my coins, but still use about 20% to stimulate the Bitcoin economy. ^smile^

But is it really the ordinary user's fault? If you check the Bitcoin's rich list you will see and realize that they are the individuals who are really hoarding most of the coins. If there is someone who holds the responsibility to use the coins for the sake of the Bitcoin economy, it is them. It is also in their interest to do so to avoid stagnation for their coins.

can you shoe us this rich list i would love to see the list and also know who are these people who are hoarding bitcoin.

mainly because as far as i know, these lists are only having addresses with big amounts of bitcoin on them and they are mostly belonging to the major businesses like exchanges for example and we never know one person that has a big balance because they are careful and spread it among multiple btc addresses.

Ok I admit that it will be hard to pinpoint any person who holds a large amount of Bitcoins because they might be spreading them out in multiple wallets. But what I am saying is still true. There are Bitcoin millionaires who hoard as much coins as they can. They are the people who are the real impediment in the Bitcoin economy. Most of the ordinary users of this forum do not have much Bitcoins and only get what they can thru faucets and signature campaigns. So why put the responsibility of the Bitcoin economy on their shoulders? That is unfair

This list of the people who own most bitcoins is not a top secret really. I remember there was a thread just about that here. Whether these people are a real impediment to the Bitcoin economy is highly debatable though. I could argue that since their coins don't enter the market, this limits the market supply thereby pushing the price higher which allows the small fish earn something through appreciation of the currency. If they decided to sell all their coins, that would without doubt bring the price down significantly, but in the long run we would still end up where we are now...

So what difference does it make if it makes any at all?

[Milkduds]

People do not run to bitcoin when the markets go haywire and I recall watching a some what dip time recently where gold and bitcoin both went down as well with the markets. The simple fact is people with large amounts in their investments do not suddenly pull out of the markets because the wind changed direction. Bitcoin does well when it already has people on the ship adding to their portfolio,as opposed to running to bitcoin when things head south.

[Dora Doll]

that is really a very very serious issue ans need some good planing for that so that bitcoin may not be effected too much/

[josh.gfell]

Bitcoin is already changing finance, are you agree? Many people are afraid that Bitcoin adoption has begun to stagnate. In many ways, this is true. What these people often don’t take into account, though, is just how much Bitcoin has already grown from its humble beginnings as an obscure, fringe subculture just 5 years ago to a near household name today. https://icoshedule.com/despite-naysayers-bitcoin-is-already-changing-finance/

[surfinonmyownwavebaby]

Your analysis was right on the button for me. My thought is simply yes I concur with your OP and that is why I am in this game right now. I think another collapse is probable especially with how the current system is setup

and I am very much hedging my bet by being in bitcoin. It is a haven from a world of crap!