mozherin1 (OP)
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July 07, 2017, 07:16:56 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
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freeyourmind
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July 07, 2017, 08:42:48 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
Historically, when there are times of uncertainty around the world, or in specific places in the world, or when the confidence in the national currency decreases, people flock to gold for safety. With cryptocurrencies around nowadays, I'd think that any uncertainty or currency crisis would cause a huge influx of money into cryptos for safety to maintain wealth.
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AdolfinWolf
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July 08, 2017, 02:30:04 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
Historically, when there are times of uncertainty around the world, or in specific places in the world, or when the confidence in the national currency decreases, people flock to gold for safety. With cryptocurrencies around nowadays, I'd think that any uncertainty or currency crisis would cause a huge influx of money into cryptos for safety to maintain wealth. Because crypto will maintain their value? For real, look at how bitcoin, the #1 coin, fluctuates. It could go down 10% in a day. I do not think we will see a massive increase in money going to crypto's in a crisis, but rather something like gold. Crypto's are also far from being mainstream.
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Kemarit
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July 08, 2017, 05:54:05 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
Historically, when there are times of uncertainty around the world, or in specific places in the world, or when the confidence in the national currency decreases, people flock to gold for safety. With cryptocurrencies around nowadays, I'd think that any uncertainty or currency crisis would cause a huge influx of money into cryptos for safety to maintain wealth. Because crypto will maintain their value? For real, look at how bitcoin, the #1 coin, fluctuates. It could go down 10% in a day. I do not think we will see a massive increase in money going to crypto's in a crisis, but rather something like gold. Crypto's are also far from being mainstream. Yes. Gold would be really the hedge during world crisis like war. It can be used as currency substitute. The value of gold should increase during times of uncertainty, so a long position should profit from a major war or crisis. I read somewhere that England used gold to buy raw materials during war or pay with gold to buy like guns and tanks in WWII. So its more safe to go for gold rather that crypto's in such crisis. Because crypto's will be totally useless in something like a war.
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epcroat
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July 08, 2017, 06:15:26 PM |
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If it's difficult enough for people to adopt and get used to altcoins to start with (I'm talking about the general population), in a global crisis situation I doubt anyone would turn to them. Gold, land and other physical "sure" things are far safer and more stable. Also, easier to "convert". This is something that needs more time to change. People need to have the opportunity to absorb all these new concepts. I suppose it's similar to what I guess happened in the era of introduction of fiat money.
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syaripudin
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July 18, 2017, 12:41:35 PM |
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I think in the face of the global crisis people will regulate the economy in the form of pisik.tidak course gold is one of the very right choice. Because I think it could be a country will transact for the tool of exchange with gold. Because I think the gold price will be much more stable in Appeal with crypto currency. This has been done by some countries who are at that time are experiencing global crisis problems. Especially the confronting problems faced. Or other issues
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dobansa
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July 18, 2017, 12:42:49 PM |
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Depends on the crisis, but most realistic crises will benefit cryptocurrency as confidence in national governments decrease.
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Gaaara
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July 18, 2017, 01:04:24 PM |
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Depends on the crisis, but most realistic crises will benefit cryptocurrency as confidence in national governments decrease.
I totally agree bro, it depends on the situation of crisis but to be honest I don't see any reason that will benefit cryptocurrencies when crisis occur, because specifically crisis exist because of sufficiency so basically if crisis occur cryptocurrencies might fall as they focus on getting back of what their lack of.
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Proton2233
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July 18, 2017, 01:31:16 PM |
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Any crisis is the decline of the economy. If a country produces less of the goods that you will buy for your bitcoins? Not everything can be bought abroad. Crypto currency is only virtual economy. The material economy is much more important. Therefore, the crisis is bad for everyone.
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allthingsluxury
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July 18, 2017, 01:46:03 PM |
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It really, honestly just depends what kind of crisis we are talking about. There are untold scenarios that could cause BTC to spike higher, there are others that would cause it to be almost worthless / unsellable. Try trading BTC in a time when the internet goes down. Good luck.
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Hamphser
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July 18, 2017, 01:46:40 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
Historically, when there are times of uncertainty around the world, or in specific places in the world, or when the confidence in the national currency decreases, people flock to gold for safety. With cryptocurrencies around nowadays, I'd think that any uncertainty or currency crisis would cause a huge influx of money into cryptos for safety to maintain wealth. Because crypto will maintain their value? For real, look at how bitcoin, the #1 coin, fluctuates. It could go down 10% in a day. I do not think we will see a massive increase in money going to crypto's in a crisis, but rather something like gold. Crypto's are also far from being mainstream. Thinking off that bitcoin does depend on world currencies specially on USD which means if theres a world crisis then expect all would be affected not only on crpytocurrencies but also the economic state on most country in the world. If we are talking about crisis its already a serious stuff and all who are depending on it will be surely affected. Theres no exclusions on this one.
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FiniteKez
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July 18, 2017, 01:53:36 PM |
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I think when crypto currency has more wide spread acceptance the reaction to economic downturn might be similar to gold. That is, that people will use btc/altcoins as a safe place to store their savings.
But the current market is still in the early phases, so crypto is seen as more of a risky, speculative investment. So if a world crisis were to happen in the next month, I would expect to see crypto as a whole fall. People don't tend to put money towards high risk markets during times of uncertainty.
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audaciousbeing
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July 18, 2017, 02:25:11 PM |
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The issue here is still rests on the volatility surrounding bitcoin at this time in which no one knows when it will stabilizes and you dont expect people running away from one uncertainty to face another uncertainty which is the reason why a lot of people wont be considering bitcoin as an option except those of us already in it and most people also will also want to share their investment to be partly bitcoin and partly other stable assets like gold as others have suggested.
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panju1
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July 18, 2017, 02:34:25 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
Bitcoin was born during the financial crisis of 2008. That, in a way, set the tone for mistrust in governments/banks in managing monetary policy. I think gold and cryptocurrencies will gain value if a world financial crisis repeats.
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thend1949
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July 18, 2017, 02:34:50 PM |
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The issue here is still rests on the volatility surrounding bitcoin at this time in which no one knows when it will stabilizes and you dont expect people running away from one uncertainty to face another uncertainty which is the reason why a lot of people wont be considering bitcoin as an option except those of us already in it and most people also will also want to share their investment to be partly bitcoin and partly other stable assets like gold as others have suggested.
Well bitcoin is really a stable asset for me compared from gold, because the ability of bitcoin can be very promising as you hold it for long term. Even though it's so unpredictable and volatile which we can see it the movement was so fluctuating in the market trend, people doesn't stop to trust bitcoin to be a part of their future.
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darthmaul
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July 18, 2017, 02:47:43 PM |
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The world crisis would most probably take down the crypto world. There won't be direct effect on the crypto currencies but the hurricane will start from market crash of physical currencies. The fall is better understood with panicked people in the market. They will hesitate to invest money into any asset because they would want to save it for bad times to come in or after the crisis. In such a situation neither gold will help nor currency like bitcoin. The only thing that would matter is how much you have got as cash or bank balance.
The crisis would also lead to collapse of local banks and some mid level banks if the crisis is supposed to be on global level. Of course in such case people won't be trusting crypto or may I say virtual currencies to rely on, because they are without any foundation. The government can bring up strict regulations on virtual trades to recover from crisis and motivating people to invest into banks or government quotas to refill the balances and any losses that incurred during the process.
I am pretty sure cryptocurrency is off the topic during any world crisis as it completely based on virtual reality and whale investors are those who are with fat bank balances which they wouldn't be thinking to invest anymore into bitcoin or crypto world.
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webtricks
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July 18, 2017, 03:12:58 PM |
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Hello what will happened with crypto* currency if it was world crisis? wha do yu think?
I would like to have my take on this, counters are welcome! Ok so crisis can be in two ways either wealth of public decrease drastically or purchasing power of public decrease drastically. In case one, government can easily handle situation by deficit financing which on whole improve the situation of country in form of increased wages, salaries, etc so crypto currencies have no role to play. This measure works in case of 'deflation' or reduced wealth. Now coming to case two which is inflationary situation. Inflation is more dangerous than deflation like we can see in Zimbabwe. So here value of currency depreciated to that low that purchasing power (real income) of public falls. In this case, cryptocurrencies can work as saviour. In Zimbabwe, government follow the concept of using USD instead. But rather than using fiat exchange, if country use cryptocurrencies to tackle crisis then problem maybe solve better. This is because- 1. Most of the cryptocurrencies tend to show rise in price over time period. Thus purchasing power of public would automatically increase just by holding currency. 2. Cryptocurrencies' prices are determined by global market hence internal position of country won't affect price rather internal demand for coin increase its price. Thus cryptocurrencies can be seen as viable tool to combat inflationary crisis in country.
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naughty1
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July 18, 2017, 03:21:49 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
The crypto market is never affected by the global economic crisis, it is a cryptographic currency, it has its own value, its value does not depend on the value of the fiat.
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iamTom123
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July 18, 2017, 03:37:32 PM |
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This all depends on the nature of a crisis. Let's say for example that the crisis is akin to what happened in 2008 which was economic in nature maybe we can say that Bitcoin can be acting like a safe haven that is why it is called as the digital gold. Now, if the crisis can be a global disaster like a world war 3 started by a nuclear bomb that killed millions of people somewhere I think that would be a different story.
We have to remember that Bitcoin is largely dependent on the modern telecommunication technology...without this technology it would be impossible to use Bitcoin not unless we can discover a way to offset this situation.
Anyway, the thing here is that it remains to be seen how Bitcoin can behave during a global crisis because we don't have a good precedent with which to judge the cryptocurrency.
Let's just wait for the history to unfolds soon.
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HeRetiK
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July 18, 2017, 03:41:59 PM |
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Hello
what will happened with cripto currency if it was world crisis? wha do yu think?
As much as I would love to believe that people would flock to crypto currencies like to gold during an economic crisis, I'm afraid we still haven't reached that point yet. To be more precise, I currently would expect Bitcoin in the context of a global economy crisis to behave pretty much like alt coins in the context of a Bitcoin dump. But who knows, maybe in a few years Bitcoin (or its successor) will have the trust level of gold. At least to me that trust level is already reached...
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