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Yuuto
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October 07, 2017, 02:50:38 AM |
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if there was a real financial collapse bitcoin would turn to dust too. maybe the people writing here trust it, no one else does. people would run to gold or dollars just like always.
it's a nice idea but bitcoin's time hasn't come yet as a lifeboat. it's still a get rich quick scheme in the minds of most people who put money in and they're also the most panicky people on earth judging by the movements to the slightest scary news.
it would be nice to be proven wrong. i don't think i would be. the handful of people in places like venezuela who do use bitcoin are benefiting from the commodity boom that's fueled it that's lasted for years. they're hanging on the coattails of general market success in first world countries.
When a financial collapse happens, nobody would turn to the dollar. It just doesn't make any sense - the dollar is already worthless in a hyperinflationary scenario, and to pick up some dollars would simply be suicide. I think that gold and silver will still be used for transactions and storing value in a financial collapse, however with bitcoin it's just so much simpler and convenient. though i have nothing to back up my points with, i think that once the inevitable collapse of fiat occurs, people will turn to bitcoin. |
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entrepmind23
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October 07, 2017, 03:30:29 AM |
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There are people who are wondering what can happen to Bitcoin if there would be economic and political chaos? Will it mean that Bitcoin will surge in price or will it withered and be likewise chaotic? I think what is happening in Venezuela right now is just a foretaste of what can happen when an economy can go down to the bridge...Bitcoin can come to the rescue and can be a source of some stability and access to the outside world.
While, of course, we are not wishing any country's economy to go down the floor, having some Bitcoin and getting involved in Bitcoin can be an insurance just in case something like a Venezuela will happen to our country. This has evolved to be one of the many functions of Bitcoin as we see it.
With what is happening to the world right now like there is about to be a war and some economic uncertainties, people would want to preserve their wealth especially those rich people who would find ways to maintain their status and their wealth as well and bitcoin is one of the lucrative option because aside from it being accessible everywhere, it can go up in value because of the demand that it would attract to people who wanted their funds to be safe. Bitcoin is a big help for those people who have lose hope in their fiat currency like Venezuela who is suffering an unbelievable hyper inflation. Though it may have a positive impact to the bitcoin being in demand, still there should be a solution to this economic crisis they are suffering right now. |
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michellee
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October 07, 2017, 08:21:25 AM |
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if there is any chaos happen, bitcoin price will be increase too high because the economy and the financial for every country will be disturbed and the one currency which is only used in internet will be applying in real life. i think if its happen, then bitcoin will gets stable because every country is using bitcoin and people don't want to see the bitcoin is too volatile because in that time, bitcoin become one single currency that is using by all country. and in that time, I think bitcoin is the only currency that will work for the economy and maybe bitcoin will change the economy and financial for every country to be one united currency.
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coolcoinz
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October 07, 2017, 10:15:16 AM |
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What is happening in Venezuela currently is actually an eye-opening to how bitcoin can actually intervening during financial crisis. Bitcoin actually can create stability since it is decentralised and the cost of production lower compared to fiat. Bitcoin should be adopted into most of the developing world so that the cost of using and producing fiat will reduced.
That's correct, but you're talking about a collapse of a national currency in a single and not so economically important country. I think if the financial collapse can be contained it will cause a Bitcoin boom, but if it spreads to all the neighboring countries, making it impossible for people to move to another country for work and making it impossible for a country to borrow money from someone, it would be a tragedy. Bitcoin wouldn't be able to help in such case. |
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warrior333
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October 07, 2017, 04:44:56 PM |
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Bitcoin can not ensure the functioning of the state. If the country's economic collapse that will have nowhere to spend your money. What will you buy on a desert island? To move to a permanent residence in another country is also problematic. Even if your account has a lot of bitcoins. Therefore, bitcoin cannot exist without Fiat.
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Torque
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October 07, 2017, 04:48:25 PM |
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Buying bitcoin because you think a total economic collapse is imminent is a little extreme (but could happen).
Buying bitcoin because you see it as a great hedge against ongoing (and rising) inflation is smart.
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Opquar
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October 07, 2017, 05:00:50 PM |
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If my country's economy showed signs of collapsing, I'd definitely diversify, and part of that would be into Bitcoins. Since it's one of the more stable cryptos (as far as not dying goes), it's the best storage of value available. If others adopt the same mindset, then Bitcoin will boom for sure. I don't wish economic collapse on anyone though.
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Palmerson
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October 07, 2017, 06:02:08 PM |
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Buying bitcoin because you think a total economic collapse is imminent is a little extreme (but could happen).
Buying bitcoin because you see it as a great hedge against ongoing (and rising) inflation is smart.
If the total economic crisis that bitcoin will not help. I also try to keep your savings in bitcoin but I do it in the hope that the crisis will be. In any crisis it will be impossible to spend the money. Can be fulfilled the prediction that bitcoin will be worth 1 million dollars but for the money you can buy one carton of cigarettes. I don't want that. Better to let everything be as it is now. |
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Barcode_
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APP下载sbapp.io
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October 07, 2017, 06:11:20 PM |
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Bitcoin is being treated as a safe haven investment by many investors, because bitcoin is not being control by any countries government and banks, and thus the commonly financial news which are negative in reports does not affect bitcoin values much, so I would say whenever the stocks market crashes, you could always see a huge rise in price on crypto-currencies markets.
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TrueCryptonaire
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October 07, 2017, 07:07:35 PM
Last edit: October 09, 2017, 05:08:36 PM by TrueCryptonaire |
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Bitcoin is being treated as a safe haven investment by many investors, because bitcoin is not being control by any countries government and banks, and thus the commonly financial news which are negative in reports does not affect bitcoin values much, so I would say whenever the stocks market crashes, you could always see a huge rise in price on crypto-currencies markets.
I don't think that it will lead to bitcoin boom, but it will be beneficial for all the cryptocurrencies in general. As bitcoin is the best investment so far we have seen and it is graded as the best investment because it isn't under the control of any country so there would not be any kind of manipulation in its price,also the countries are afraid of it because of the same fact. Also there are many people interested in bitcoin who live in countries with lots of corruption and which are in a financial crisis like Argentina and Greece and coming of people from those countries means bitcoin boom. |
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bohr
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October 08, 2017, 04:15:34 PM |
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New data from investing.com suggests, however, that it’s not just Venezuelan citizens that are turning to cryptocurrencies as fiat currencies collapse. The investment portal researched the top ten countries accessing cryptocurrency across its platform and noticed an interesting trend.
Citizens of countries with failing currencies in every part of the globe seem to be turning to crypto for investment and wealth protection, even amid the chaotic struggles of fiat currencies.
Venezuela - 36%, Colombia - 18%, Argentina - 15%, Belarus - 13%, Ukraine - 11%, Brazil - 11%, Germany - 10%, UK - 8%, Egypt - 7%, Russia - 6%. The five countries with the worst-performing currencies of 2017 are Venezuela, Argentina, Belarus, UK, and Egypt, and all of them made it onto the top ten list.
The huge number of investors turning to cryptocurrencies in these fiscally challenged countries may be a major factor driving the exponential rise of Bitcoin and other cryptocurrencies over the past month.
Even as these struggling economies fight to regain stability of their fiat currencies, the prices of digital currencies have been moving higher. The influx of huge amounts of cash from depressed regions into cryptos may well be the cause of the boom. While the massive increase in price may retract over time, the mainstream acceptance of cryptocurrencies will only drive demand further.
Taken from here...There are people who are wondering what can happen to Bitcoin if there would be economic and political chaos? Will it mean that Bitcoin will surge in price or will it withered and be likewise chaotic? I think what is happening in Venezuela right now is just a foretaste of what can happen when an economy can go down to the bridge...Bitcoin can come to the rescue and can be a source of some stability and access to the outside world. While, of course, we are not wishing any country's economy to go down the floor, having some Bitcoin and getting involved in Bitcoin can be an insurance just in case something like a Venezuela will happen to our country. This has evolved to be one of the many functions of Bitcoin as we see it. It is a sure thing that is going to happen, every time the economy has troubles gold and silver go up a lot, in fact bitcoin came a few weeks after the latest economic crisis, and every time something goes wrong with the economy bitcoin does great, so if the economy of the world failed then it is very obvious that bitcoin is going to do nothing but to go up which is good news for us. |
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Barbut
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October 08, 2017, 05:48:38 PM |
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New data from investing.com suggests, however, that it’s not just Venezuelan citizens that are turning to cryptocurrencies as fiat currencies collapse. The investment portal researched the top ten countries accessing cryptocurrency across its platform and noticed an interesting trend.
Citizens of countries with failing currencies in every part of the globe seem to be turning to crypto for investment and wealth protection, even amid the chaotic struggles of fiat currencies.
Venezuela - 36%, Colombia - 18%, Argentina - 15%, Belarus - 13%, Ukraine - 11%, Brazil - 11%, Germany - 10%, UK - 8%, Egypt - 7%, Russia - 6%. The five countries with the worst-performing currencies of 2017 are Venezuela, Argentina, Belarus, UK, and Egypt, and all of them made it onto the top ten list.
The huge number of investors turning to cryptocurrencies in these fiscally challenged countries may be a major factor driving the exponential rise of Bitcoin and other cryptocurrencies over the past month.
Even as these struggling economies fight to regain stability of their fiat currencies, the prices of digital currencies have been moving higher. The influx of huge amounts of cash from depressed regions into cryptos may well be the cause of the boom. While the massive increase in price may retract over time, the mainstream acceptance of cryptocurrencies will only drive demand further.
Taken from here...There are people who are wondering what can happen to Bitcoin if there would be economic and political chaos? Will it mean that Bitcoin will surge in price or will it withered and be likewise chaotic? I think what is happening in Venezuela right now is just a foretaste of what can happen when an economy can go down to the bridge...Bitcoin can come to the rescue and can be a source of some stability and access to the outside world. While, of course, we are not wishing any country's economy to go down the floor, having some Bitcoin and getting involved in Bitcoin can be an insurance just in case something like a Venezuela will happen to our country. This has evolved to be one of the many functions of Bitcoin as we see it. It is a sure thing that is going to happen, every time the economy has troubles gold and silver go up a lot, in fact bitcoin came a few weeks after the latest economic crisis, and every time something goes wrong with the economy bitcoin does great, so if the economy of the world failed then it is very obvious that bitcoin is going to do nothing but to go up which is good news for us. Too 3 countries are fron South Amerman, I knew that they are involved in crypto world, but I didn't except they are so high on the list. Crypto currencies have much more influence in countries where there is huge problems with economy, people from there have more trust in crypto currencies then in their monetary politic and government. Bitcoins and other altcoins have a future, and every year more people are involved. In just one year this list will look different and numbers will be much higher. |
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bitebits
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Flippin' burgers since 1163.
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October 08, 2017, 06:54:39 PM |
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Bitcoin has got to get a hell of a lot less volatile before it's a safe haven form of money.
Indeed, let's do a x10 first. |
- You can figure out what will happen, not when /Warren Buffett - Pay any Bitcoin address privately with a little help of Monero. |
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JL421
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October 10, 2017, 05:59:43 PM |
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How if financial crash occurs that would mean inflation rates will increase and when inflation increases how will people be able to purchase more bitcoin when they are not able to meet there daily expenses
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bohr
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October 11, 2017, 05:00:35 PM |
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Buying bitcoin because you think a total economic collapse is imminent is a little extreme (but could happen).
Buying bitcoin because you see it as a great hedge against ongoing (and rising) inflation is smart.
Well , there are always going to be individuals that like to put on their tin foil hats, I remember hearing the same about gold 10 years ago, and while gold is a great investment, if the collapse was imminent I will prefer to have guns, ammo, medicines, food and water before having gold, so it seems the story is repeating but I do not mind because even if people are buying for the wrong reasons they are still taking the right decision. |
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