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Author Topic: global economic collapse  (Read 1379 times)
yunk3r
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August 10, 2011, 01:24:25 AM
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When this happens bitcoins should be worth alot. While others are sad, and out of money we will be the ones with the valuable currency
http://www.youtube.com/watch?v=Jjv-MtGpj2U.
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August 10, 2011, 01:39:57 AM
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I don't like others to be sad, we all deserve to be happy.

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August 10, 2011, 01:46:55 AM
 #3

When this happens bitcoins should be worth alot. While others are sad, and out of money we will be the ones with the valuable currency
http://www.youtube.com/watch?v=Jjv-MtGpj2U.
If there is a global economic collapse I think that people will value physical commodities over virtual ones. It is unclear if people will use virtual commodities to remotely exchange physical ones in times of crisis.

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August 10, 2011, 01:52:43 AM
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When this happens bitcoins should be worth alot. While others are sad, and out of money we will be the ones with the valuable currency
http://www.youtube.com/watch?v=Jjv-MtGpj2U.
If there is a global economic collapse I think that people will value physical commodities over virtual ones. It is unclear if people will use virtual commodities to remotely exchange physical ones in times of crisis.

I agree, if there's a collapse, the dollar or euro value of your virtual coinage will be ZIP. Did everybody forget that someone had to originally purchase these coins with cashola.

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August 10, 2011, 02:28:30 AM
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I want all currency's to prosper... If the dollar tanks Bitcoin tanks, since 90% of the Bitcoins today are backed by USD...

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August 10, 2011, 02:40:17 AM
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I wouldn't mind gradual erosion. It only makes the case for bitcoin stronger, the flaws in government policy set in sharp relief. Harder to say bitcoin isn't 'real' when your own currency can't even cut it.

At the same time, I don't want massive economic upheaval to result in social chaos. So, perhaps a gradual 'enlightenment'.

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August 11, 2011, 01:37:05 AM
 #7

I want all currency's to prosper... If the dollar tanks Bitcoin tanks, since 90% of the Bitcoins today are backed by USD...

Me too.

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August 11, 2011, 01:50:36 AM
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How will you pay for your internet access to reach your coins?

(I dont always get new reply notifications, pls send a pm when you think it has happened)

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August 11, 2011, 02:47:45 AM
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I want all currency's to prosper... If the dollar tanks Bitcoin tanks, since 90% of the Bitcoins today are backed by USD...

This is the problem. In principle, a crypto currency could do very well during a global economic collapse due to it being decentralized and non-inflationary. However, when it is traded entirely in an inflationary currency and most people are running to hard (physical) assets it is liable to crash hard along with the US dollar.
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August 12, 2011, 04:44:31 PM
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If the global economic collapse, even gold will worth nothing, don't mention the bitcoin. only food and clean water worth the food and clean water.

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August 12, 2011, 05:44:52 PM
 #11

When this happens bitcoins should be worth alot. While others are sad, and out of money we will be the ones with the valuable currency

And I will be laughing in the face of those sad people. HAHAHAHAHAHAHAHA!!!!

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August 12, 2011, 07:21:26 PM
 #12

When this happens bitcoins should be worth alot. While others are sad, and out of money we will be the ones with the valuable currency
http://www.youtube.com/watch?v=Jjv-MtGpj2U.
Yeah, we'll dance on their graves when we become the rich ones. You see what's coming, bankers?Huh Tongue

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August 14, 2011, 01:47:03 AM
 #13

If the global economic collapse, even gold will worth nothing, don't mention the bitcoin. only food and clean water worth the food and clean water.

This is only true for the first few months/years of the crisis.
After that, when monetary economy begins to kick in again, Bitcoin will become one of the most valuable things out there.
Of course only if internet will keep existing. Bitcoin doesn't exist without the internet. So if a war / or heavy crisis happens and communication networks get destroyed/disconnected, we need to reboot Internet first before Bitcoin can prevail.

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