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wantjokull
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February 22, 2018, 12:08:20 PM |
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Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
The real crash would be directly related to the crash of the crypto currency. Obviously because that is from were we are getting the money invested into the crypto and that is the reason the crypto currencies are having the value. Once the crisis is declared I am sure that next move for everyone in the crypto community would be to sell off everything that they have got to save the asses from he real world crisis and get some handful of money. The net effect would be crash of the bitcoin economy and followed by the altcoins going red. That is the simple explanation about what will happen. |
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Falmera
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May 04, 2018, 12:44:24 AM |
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Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Of course, economic status will really affect the price of bitcoin. And whatever is the situation or problems the world is facing will affect the economy. The worse will be the crisis the world is facing, the bigger will be the possibility of bitcoin crash. |
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mostcrack
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May 04, 2018, 02:01:00 AM |
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The severe economic crisis in the world does not make all the currencies will survive, where the value of Fiat will be greatly reduced and hold Bitcoin too they will not be at a greater cost, all will not be worth it when a very sharp crisis happens, do not know what should they do to grow the economy, I am sure the economic crisis will greatly affect the price of BTC, as there will be a lot of price worries that fall sharply and outdone by necessity.
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zhanyiguai261315
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May 04, 2018, 07:49:45 AM |
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If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
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fonenumba
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May 07, 2018, 01:12:55 PM |
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The possibility of bitcoin to be completely dead does not exist because this crypto currency has been going back ti its value and growing after that every time starting from January in 2009
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tylerderden
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May 07, 2018, 01:25:52 PM |
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Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
I don't think that this can happen ever as bitcoin and cryptocurrencies are just that kind of ecosystem that is still unforeseen by the governments around the world and I believe that this will be the same in next 10 to 20 years. I believe that when a country starts to launch their official cryptocurrency then the process of mass adaption would start and if that cryptocurrency fails then that could lead to an economic meltdown in that country. |
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amishmanish
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May 07, 2018, 04:48:59 PM |
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When wars take place, you inevitably have civilians running to save their lives while having to leave behind their property and belongings. Even if they carry something, It is vulnerable to theft and loss. in such a scenario, people would be more than willing to keep some BTC as an asset that can be carried without much of a physical footprint and can be kept safe very easily.
Not that anybody should wish war or economic collapse but i think such a situation will inevitably prove the strength of peer-to-peer currency that needs no government or central bank to impart it value.
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Shenzou
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May 07, 2018, 04:59:00 PM |
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Bitcoin and crypto currencies have been made to replace trust in banks and to be able to do without their centralized systems.
Imagine an unfortunate event in the world causing an economic crisis, or a crisis caused by the crypto themselves. A kind of 1929 bis in the 21st century. It would be sad, of course.
But what would be the destiny of bitcoin and other crypto currencies?
And worst of all, in case of serious disruption of the economy, such as war, for example, what would you say?
Most likely this will happen if people start losing trust in banks and governments, not that they have a good one right now but people still to prefer something that is controlled and monetized rather than something volatile that can change at any given point, in this scenario people would start using cryptocurrency more and that would lead to its price rising up, which will cause even more problems, because how would an average person who doesn't own any cryptocurrency will survive in that case. |
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SplendidHunter
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May 07, 2018, 05:07:25 PM |
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It would be really interesting to see, becouse the theories are lot recent days. How exactly it would go, and how crypto can replace fiat?
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fonenumba
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May 10, 2018, 10:36:03 AM |
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If some kind of economic crisis happens, we shoul nor freak out ans strart seling them for no money, that's not a smart move at all.
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chickenfried12
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May 10, 2018, 10:39:09 AM |
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I am assuming that there is an economic crisis already at this moment some of the segments that have really flowed in money have felt this SD Nation or the bottom layer is living with the minimum wage of people working in a living economy in my country is not really a crisis, but the cost of living is very high, it is worth fighting or a similar If this is the case, these are really economic crises. This is how much it affects bitcoin. I do not even want to think about it.
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jatin729
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May 10, 2018, 10:48:48 AM |
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There are several assumptions that we have to keep in mind when we are talking any decentralized currency price prediction after economy crash.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
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osh5
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May 10, 2018, 11:17:47 AM |
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Like any other asset,Bitcoin store some value and makes an easy fall back option in case of economic crisis.
Bitcoin is alike and thus fungible, transferable, divisible and finite so people will hold on to Bitcoin in the time of economic crisis and it's value will shoot up.
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Xardasim
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May 10, 2018, 11:39:37 AM |
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There are several assumptions that we have to keep in mind when we are talking any decentralized currency price prediction after economy crash.
Let me give you the example of Venezuela when there was economic crisis the price of the bitcoin was high compare to normal market at that time.
So yeah Bitcoin price would rise if economy crash because Bitcoin is not under control of any authority.
I agree, the only thing that affects price of cryptocurrencies is buying-selling and in a space called Blockchain nobody can influence at the price. Economic crisis can affect the cryptocurrencies, but it may be due to the fact that it is not just people's money. In my opinion, If cryptocurrencies were instead of paper money, there would not be economic crisis. |
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Mpamaegbu
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Once a man, twice a child!
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May 10, 2018, 11:53:39 AM |
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If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
This response here isn't just ambiguous and ambivalent to the title question, it is a "ghen ghen thing" Complicating issues with a yes and no answer isn't what the forum seeks as no one will benefit from such a response. Anyway, back to course. Whatever affects the world economy drastically will also have an adverse effect on cryptocurrency. The simple reason being that it takes demand and supply to achieve price level. And when no one is buying, price remains stagnant or goes down. This is the likely scenario when there is war or financial meltdown. Resources will expectedly be scare and the little available will be channeled to enable survival and not investment. |
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Tyrantt
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May 10, 2018, 12:10:47 PM |
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bitcoin and cryptocurrencies are virtual,meaning can be stored without any damages if war disruption comes,and so i see nothing to be afraid of when this serious matter happens.war wasnt permanent though it will take for long,so what we have here is just reconnecting when the game is over and crypto will back to business
Well yes, but that's not the biggest problem. The biggest problem would be people selling all of their bitcoin and crypto to cover their loses and have some money in case something bad happens, not speaking just about war but any tragedy. "just reconnecting" isn't the problem that much, people dumping and dropping the price might be. |
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
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TooDumbForBitcoin
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May 10, 2018, 12:17:11 PM |
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2 scenarios are possible during economy crash: - Large hodlers/investors will exit from bitcoin as from risk asset - People will buy bitcoin as store of value asset The only needed thing is to identify it class  |
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fonenumba
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May 11, 2018, 12:31:46 PM |
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There were not wars in Europe from a long time and I hope the US would not invade other countries for their own interest anymore and that the US would not give a damn about those countries.
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kryptqnick
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Join the world-leading crypto sportsbook NOW!
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May 11, 2018, 04:22:29 PM |
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If the economy of a country collapses, the price of BTC will rise, and people will deal with their own economic crisis through BTC!
If there is an economic crisis in the world, the price of BTC will also plummet, and people can't use BTC to meet the daily needs of life!
In case of some specific country's economy you would be right in case the government officially recommends people to switch to bitcoin. Otherwise the price will not be affected a lot as most of people will just suffer helpless. As for the global economy, I think the answer depends a lot on the reason of the crisis. If it is due to a huge war between major countries or domination of some traditionalist/communist ideology, then bitcoin will be as useless as everything else. If the global economy crisis is predicted as inevitable by some experts, but humanity will still be living prosperous, then crypto market can give a chance of saving the world economy, so the prices will rise like hell. |
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Vannie12
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May 12, 2018, 01:55:56 PM |
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Well, I think this is a common sense question. But still here is my answer. Economic growth is an increase in the production of goods and services over a specific period. To be accurate, the measurement must remove the effects of inflation.
Economic growth creates more profit for businesses. As a result, stock prices rise. That gives companies capital to invest and hire more employees. As more jobs are created, incomes rise. Consumers have more money to buy additional products and services.
Purchases drive higher economic growth. For this reason, all countries want positive economic growth. This makes economic growth the most watched economic indicator. I got this from here ---- https://www.thebalance.com/what-is-economic-growth-3306014I simply I would say that if you know how economic status of a country is measured then you would know how it affects bitcoins. I want to highlight the fact that economic growth creates profit for businesses and with that case, companies could invest in to cryptos that would increase the demand of it and like stock prices, it rises. Another point is MORE JOBS are created. Companies may provide works and bitcoin as mode of payment or people with jobs could just jump in into cryptos. Investments are very important to the supply and demand circulation. |
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