I was thinking

[hahahafr]

In 5 years, when the final banking crisis arises, and the whole banking system collapses. Having a "price" for bitcoins in USD or EUR doesn't make sense anymore. The "price" is basically infinite then. BUT the value is not, although still bigger than now.

[Grouver (BtcBalance)]

Why would the system collapse in 5 years? Can you highlight this?

[fr33d0miz3r]

Why would the system collapse in 5 years? Can you highlight this?

It is obvious, man

[hahahafr]

Why would the system collapse in 5 years? Can you highlight this?

Why would the system collapse in 5 years? Can you highlight this?

It is obvious, man

I'm in Bitcoin since 2012, but I just learned about fractional banking 2 weeks ago. Something's wrong, can you feel it?

[Hawker]

Hell will freeze over before the banking system fails.  In the UK countries, the problem is the banks are too risk averse and not lending money to homebuyers and small businesses.

[Miz4r]

I doubt this system will last 5 more years.. but then again I probably thought the same in 2008. At some point the realization has to settle in that the endless printing of more fiat isn't working, and then what? Can they think of something else? Back to the gold standard perhaps, or maybe then bitcoin will truly show its strength and opportunities to the world.

[Anon136]

Why would the system collapse in 5 years? Can you highlight this?

It is in collapse right now it's just that things that are very rapid on the timescales of civilizations seem very slow to lilliputians like us and we tend not to notice things that are happening on higher time scales because we focus our attention disproportionately on events that are more recent. It's entirely natural for us to do this, it's a legit survival strategy, we have limited resources to dedicate towards thought. However useful myopathy can be from a survival standpoint it has its obvious drawbacks. The point is you have to know what to look for if you want to see it in real time. Look at the infrastructure crumbling, the renminbi strengthening dramatically against western currencies, americas failure in the "graveyard of empires" and the prices in the grocery store.

there were people who thought they were citizens of rome long after historians consider roam to have collapsed.

[herzmeister]

We can use price indexes like gold, silver, barrels of oil, Big Macs, whatever

[fr33d0miz3r]

I think it's a great time for Bitcoin and other cryptocurrencies to show what they can.

Something's wrong, can you feel it?

Yes, I feel it. I think in 5-10 years we will can do this without any loss:

[BitcoinAshley]

5 years? Just like that David Bowie song?

Remember, in some "developed" countries now, youth unemployment is 60% and there are riots on the street and public school children begging their friends for food at lunch time. Prostitution in Athens has increased by 150%.

I give it 2 years tops. But then, the banksters always seem to have a rabbit to pull out of their hat... Hmmph. So maybe a few more decades of this shit, if the level of acknowledgement by your average person is any indication. 

[Grouver (BtcBalance)]

. but then again I probably thought the same in 2008.

That was exactly the point i was trying to make...
They will somehow make sure the global economy will not hit hyper inflation and als won't go into an deflationary downward spiral.

[Hawker]

http://online.wsj.com/article/SB10001424127887323336104578502791681126734.html?mod=WSJEurope_hpp_LEFTTopStories

"European banks that spent the past few years building up big stockpiles of cash at central banks have started drawing down reserves, a sign of the industry's renewed confidence and appetite for risk despite the Continent's financial crisis."

As I said, hell will freeze over before you see the banking system fail.  They came though after the enormous fuck-ups of the last 15 years and have even bigger cash reserves than ever.

[wobber]

If banking system would fail, that means bank from all over the world will go into a domino effect right? And I presume there might be wars / civil wars /huge riots

Can someone detail how this might happen? It's not very clear what would happen... bank runs, riots

[Hawker]

If banking system would fail, that means bank from all over the world will go into a domino effect right? And I presume there might be wars / civil wars /huge riots

Can someone detail how this might happen? It's not very clear what would happen... bank runs, riots

Banks are guaranteed by governments.  So first thing you would see before the banking system fails is a whole series of governments failing.  In this context, failure means ceasing to exist.

For that to happen, we have to think in terms of extinction level events.

[BitSmile]

Why would the system collapse in 5 years? Can you highlight this?

Why would it not collapse? http://youtu.be/Osq1yxSFVG0

[ElectricMucus]

They should have collapsed 5 years ago, but somehow banksters pull one rabbit out of the hat after another, miracle after miracle. Postponing the inevitable for a little more every time. As soon as their diminishing returns on miracle making get too diminishing it is all over.

Actually it's not really a miracle.
The remittance of debt is what keeps the system going, and as long as the extent is large enough this can go on for a long long time. If the amount is equal to the amount of compounding interest which can not be payed back even indefinitely.

[Adrian-x]

They should have collapsed 5 years ago, but somehow banksters pull one rabbit out of the hat after another, miracle after miracle. Postponing the inevitable for a little more every time. As soon as their diminishing returns on miracle making get too diminishing it is all over.

Actually it's not really a miracle.
The remittance of debt is what keeps the system going, and as long as the extent is large enough this can go on for a long long time. If the amount is equal to the amount of compounding interest which can not be payed back even indefinitely.

I'd agree it can go in indefinably*, but eventually you get pissed off, and start wondering why your savings are diminishing and your investments are delisting, and you find Bitcoin. 
I think this dissolution stage with the banks will take 10 to 15 years and we will see a global reserve currency before anything collapses.

*Earth a finite Planet being the one caveat as the perpetual banking motion machine requires growth.   

[BitSmile]

I'd agree it can go in indefinably*, but eventually you get pissed off, and start wondering why your savings are diminishing and your investments are delisting, and you find Bitcoin. 
I think this dissolution stage with the banks will take 10 to 15 years and we will see a global reserve currency before anything collapses.

*Earth a finite Planet being the one caveat as the perpetual banking motion machine requires growth.   

We are already seeing the developments in this area, China as the new superpower, Russia and China buying gold, GLD going down, but demand for physical going crazy, etcetera. China and Russia will team up and come up with a new reserve currency, backed by gold. It can take just 3 to 5 years to see this.

[Schrankwand]

Why would the system collapse in 5 years? Can you highlight this?

Why would it not collapse? http://youtu.be/Osq1yxSFVG0

Because governments and central banks all over the world will instead work together to instead devalue money. More slowly than instant, but in a hidden trail.

Pensions and all monetary investments will slowly loose their value through carefully pushed hyperinflation masked by using an indicator and creating a "shopping cart" that will readily mask this.

You will loose savings, true. Everyone will. But the system won't collapse. At worst, they will vaporate some savings and put them into other people's pockets to fix their debt and consolidate. At the moment this system is working better than ever before. It is a gold mine for every bank and investment guy in the world. It is absolute horror for the average saver with pension funds.

We are already seeing the developments in this area, China as the new superpower, Russia and China buying gold, GLD going down, but demand for physical going crazy, etcetera. China and Russia will team up and come up with a new reserve currency, backed by gold. It can take just 3 to 5 years to see this.

China and Russia. When hell freezes over. Have you lived in these countries? No way in hell are chinese going to accept any shared currency that is not perfectly under their control. And Russia accepting Chinese control over their currency? Fuck that.

This is not going to happen.

[BitSmile]

Because governments and central banks all over the world will instead work together to instead devalue money. More slowly than instant, but in a hidden trail.

Pensions and all monetary investments will slowly loose their value through carefully pushed hyperinflation masked by using an indicator and creating a "shopping cart" that will readily mask this.

You will loose savings, true. Everyone will. But the system won't collapse. At worst, they will vaporate some savings and put them into other people's pockets to fix their debt and consolidate. At the moment this system is working better than ever before. It is a gold mine for every bank and investment guy in the world. It is absolute horror for the average saver with pension funds.

China and Russia. When hell freezes over. Have you lived in these countries? No way in hell are chinese going to accept any shared currency that is not perfectly under their control. And Russia accepting Chinese control over their currency? Fuck that.

This is not going to happen.

They aren't devaluing money slowly, nor in a hidden trail, it's out in the open, central banks are creating money and buying bonds at an amazing rate. If they stop, the entire system will collapse. The stock market goes down every time they ease up a little on the QE throttle, so they must continue creating more money. If they don't, it will collapse anyway, there's nowhere to go but create a new system, with gold as the reserve currency. As for China and Russia, I'm just speculating, it's the speculation forum  , we'll see how it develops in the next years.