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Author Topic: Upcoming Global Financial Collapse and following World War 3 driving up Bitcoin?  (Read 602 times)
very_452001
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August 13, 2017, 12:18:54 PM
 #1

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?
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August 13, 2017, 12:21:49 PM
 #2

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?

Neutral currencies (and there aren't many beside Bitcoin... because alts are mostly a joke) would in theory go high, very high, in periods of global disturbance.

Since Bitcoin doesn't depend on any country, it is a neutral safe haven, similar to gold. Bitcoin is performing awesomely, while Gold is underperforming. Gold should be going up right now. The Trump-Venezuela-North Corea stuff is scary, Gold should naturally go up, but looks like more and more people are choosing Bitcoin, because when it's all said and done, you will need to run away from your country, and you can easily run with your Bitcoins, but you can't cross borders carrying Gold, so Gold is useless. Bitcoin will go to 1 trillion, then 10 trillion marketcap as Gold deflates.
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August 13, 2017, 12:34:36 PM
 #3

Economic crises come pretty much every ten years in modern society.  The main question is how severe the next one will be.

It'll be the first economic crisis that BTC has lived through.  It existed in the later part of the last crisis, but it was not yet relevant enough for people to care about it.  So this time will be when we can see how BTC actually reacts to a crisis.

Personally I think BTC will pretty much ignore the crisis and act as it would anyway.  If BTC is already in a bubble when it happens (like it is now), it'll probably just act as false justification for the high prices before a crash.

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August 13, 2017, 12:39:11 PM
 #4

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?
I cant still see that possible global economic crisis as of now and i cant really say that this is the reason why bitcoin is reaching up all new time highs. This is just simply do have lots of demands within the crypto world knowing that there are still people yet doesnt know about bitcoin that they would already decide to engage to bitcoin already. I would not think on these things like crisis.

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August 13, 2017, 12:52:19 PM
 #5

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?
In the world of crisis of war, I think bitcoin and cryptocurrency is one of the way of funding system. It is more secure than cash in fiat. People will not be tracked history of sending money to others. The tracking is anonymous. More people will use cryptocurrency because of war.
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August 13, 2017, 01:11:41 PM
 #6

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?

Neutral currencies (and there aren't many beside Bitcoin... because alts are mostly a joke) would in theory go high, very high, in periods of global disturbance.

Since Bitcoin doesn't depend on any country, it is a neutral safe haven, similar to gold. Bitcoin is performing awesomely, while Gold is underperforming. Gold should be going up right now. The Trump-Venezuela-North Corea stuff is scary, Gold should naturally go up, but looks like more and more people are choosing Bitcoin, because when it's all said and done, you will need to run away from your country, and you can easily run with your Bitcoins, but you can't cross borders carrying Gold, so Gold is useless. Bitcoin will go to 1 trillion, then 10 trillion marketcap as Gold deflates.

Yeah everyone knows Gold but ask 10 random people on the street about bitcoin and only 1 will know bitcoin. So how can gold deflates when its more popular globally than bitcoin?
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August 13, 2017, 01:18:53 PM
 #7

I think gold will go up to $2500 and silver to $100 all time highs when the next global economic crisis will happen soon. Surely this will decrease the bitcoin value or slow its value correct? Unless cryptocurrencies become more popular than gold/silver.

I think cryptocurrencies will become more popular than gold/silver in the next tech generation after world war 3 before quantum computing becomes mainstream.
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August 13, 2017, 02:19:30 PM
 #8

I think gold will go up to $2500 and silver to $100 all time highs when the next global economic crisis will happen soon. Surely this will decrease the bitcoin value or slow its value correct? Unless cryptocurrencies become more popular than gold/silver.

I think cryptocurrencies will become more popular than gold/silver in the next tech generation after world war 3 before quantum computing becomes mainstream.

I hope you are talking about the imminent war with North Korea? For me precious metals like Gold is still the best hedge for this kind of crisis. And I don't think that bitcoin price is due to the financial crisis or World War, I speculate that there are new investors who are willing to put cash into the ecosystem because they think that bitcoin is the best investment instrument right now as opposed of thinking bitcoin as a hedge for global crisis. Its better to put your money or buy golds during this time and not on bitcoin. What drives the price of bitcoin today is the influx of new cash.

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August 13, 2017, 03:00:45 PM
 #9

If such a war occurs,then definitely global crisis would occur resulting in collapse of US dollar which would in turn affect the economy of other countries.If it had occured earlier,then the ultimate choice of people would had been gold since they have no other option.But now,thanks to satoshi,people have a wonderful option bitcoin which would be the choice of most people.Unlike gold,people could easily carry their private keys in any hardware wallet or in pen drives and they could easily migrate to any other country also if needed and get access to their bitcoins in any parts of the world.As a result,there would be a huge increase in demand for bitcoin resulting in high price.
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August 13, 2017, 10:41:43 PM
 #10

So all this price uptrend is due to segwit?
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August 14, 2017, 12:11:24 AM
 #11

Bitcoin is independent from Dolar so will be negatively not affected by WWIII

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August 14, 2017, 12:17:48 AM
 #12

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?
I wouldn't say that the world is close to WW3, it is getting more tense across the globe but the chances of there being another world war when the only real instigators are NK and the US (with China going to act only is the US strikes NK first). There is a way higher chance of there being civil wars within multiple countries in Europe and potentially within the United States, depending on how internal tensions move. Beyond that there are very few potential match-sticks that can start any kind of war that would end up bringing the world into it.

As for a financial collapse, this is far more likely and you'll probably see a financial collapse in an already inflated market which will be tossed on to the US, and everything will crash in a similar way to how it did in 2008, but likely with different assets and of a greater magnitude.
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August 14, 2017, 12:28:19 AM
 #13

It is one of the factors I think that drives up the value of bitcoin for now because as there is a conflict between countries nowadays, some of the people would find ways to secure their future so storing it through bitcoin and other cryptocurrencies is a safe haven for them. They would want to diversify their risk should there be any fortuitous event that will happen.

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August 14, 2017, 11:05:52 AM
 #14

Unlike gold,people could easily carry their private keys in any hardware wallet or in pen drives and they could easily migrate to any other country also if needed and get access to their bitcoins in any parts of the world.

In fact, it's better than that. In those circumstances I think you would actually make the effort to learn your passphrase/seed (12, 24 words, or whatever). Then you can pass any border with your bitcoin 'in your head'.

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August 14, 2017, 11:39:50 AM
 #15

I don't think World War III is going to happen (for one thing, most countries would sensibly refuse to participate).

But South Koreans might be tempted to buy bitcoin just in case the won tanked if there was strife with North Korea.

 
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August 14, 2017, 12:38:28 PM
 #16

In a situation like described in OP people will have more pressing concerns than having a decentralized currency, if war happens I'm certain that the whole internet will become inaccessible, we had Hitler for the last war and now we have some body crazier than him in North Korea.
Anyways last time I updated my family about the price and pretty much about everything crypto related, my father said that US will definitely try to disrupt Bitcoin because as it's price rising like in the past 6 months, they are sensing some danger for their dollar's value. further more he added that if Bitcoin goes higher it means USD's value will decrease.
Now IMAO I think some strong and well funded organizations+governments which are their enemies like Russia and China+Iran and North Korea are secretly and blatantly supporting BTC to devalue dollar, so we should just hang tight and enjoy this massive waves ride.

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szpalata
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August 14, 2017, 03:37:45 PM
 #17

In a situation like described in OP people will have more pressing concerns than having a decentralized currency, if war happens I'm certain that the whole internet will become inaccessible, we had Hitler for the last war and now we have some body crazier than him in North Korea.
Anyways last time I updated my family about the price and pretty much about everything crypto related, my father said that US will definitely try to disrupt Bitcoin because as it's price rising like in the past 6 months, they are sensing some danger for their dollar's value. further more he added that if Bitcoin goes higher it means USD's value will decrease.
Now IMAO I think some strong and well funded organizations+governments which are their enemies like Russia and China+Iran and North Korea are secretly and blatantly supporting BTC to devalue dollar, so we should just hang tight and enjoy this massive waves ride.

Well I hope this is just speculation and that a Third World War isn't cooking up yet. We need to stay peaceful and enjoy our family with our bitcoins so those warmongers should look for meansvto address their differences and let us be.
Pearls Before Swine
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August 14, 2017, 03:43:16 PM
 #18

Quote from: neurotypical link=topic=2085140.msg20838517#msg20838517 buying e=1502626909
With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?

Neutral currencies (and there aren't many beside Bitcoin... because alts are mostly a joke) would in theory go high, very high, in periods of global disturbance.

Since Bitcoin doesn't depend on any country, it is a neutral safe haven, similar to gold. Bitcoin is performing awesomely, while Gold is underperforming. Gold should be going up right now. The Trump-Venezuela-North Corea stuff is scary, Gold should naturally go up, but looks like more and more people are choosing Bitcoin, because when it's all said and done, you will need to run away from your country, and you can easily run with your Bitcoins, but you can't cross borders carrying Gold, so Gold is useless. Bitcoin will go to 1 trillion, then 10 trillion marketcap as Gold deflates.
I don't buy the first part of that for a minute,  the neutral currency part. Bitcoin is not
stable,  and I suspect people are not buying it for safety.   They're buying it to make a profit,
because it's at its ATH and is going up daily.  People would definitely be piling into precious
metals if they thought ww3 was going to start (and Lockheed Martin stock too).

Don't believe everything you see on television.   They love fear because it sells.
Fredomago
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August 14, 2017, 03:50:23 PM
 #19

With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?
I don't think that its really affecting the value since bitcoin is not like dollars which really used when things like this happen its the dollar that will be affected if this tension begins to strike up bitcoin getting attention and adoptions that's the reason why price is surging up.


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August 14, 2017, 03:52:31 PM
 #20

Quote from: neurotypical link=topic=2085140.msg20838517#msg20838517 buying e=1502626909
With all these signs and symptoms on TV showing a possible Global economic crisis coming soon around the corner and fears of high tensions of World War 3 is this driving up the bitcoin price to All time highs?

Neutral currencies (and there aren't many beside Bitcoin... because alts are mostly a joke) would in theory go high, very high, in periods of global disturbance.

Since Bitcoin doesn't depend on any country, it is a neutral safe haven, similar to gold. Bitcoin is performing awesomely, while Gold is underperforming. Gold should be going up right now. The Trump-Venezuela-North Corea stuff is scary, Gold should naturally go up, but looks like more and more people are choosing Bitcoin, because when it's all said and done, you will need to run away from your country, and you can easily run with your Bitcoins, but you can't cross borders carrying Gold, so Gold is useless. Bitcoin will go to 1 trillion, then 10 trillion marketcap as Gold deflates.
I don't buy the first part of that for a minute,  the neutral currency part. Bitcoin is not
stable,  and I suspect people are not buying it for safety.   They're buying it to make a profit,
because it's at its ATH and is going up daily.  People would definitely be piling into precious
metals if they thought ww3 was going to start (and Lockheed Martin stock too).

Don't believe everything you see on television.   They love fear because it sells.
The claim of boost in Bitcoin demand during the time of economic crisis isn't completely wrong. Yes, right now people are buying Bitcoin mainly for making profits because of huge returns Bitcoin has to offer. But during crisis Bitcoin could be safe heaven just like other metals. Its acceptability has already increased and being decentralised it would be the best alternative to fiat currency during such times.
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