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Author Topic: The new economic crisis is the transition to crypto.  (Read 366 times)
Dimon8
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September 01, 2018, 08:27:09 AM
 #1

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

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September 03, 2018, 09:06:13 AM
 #2

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

It's an interesting thought for sure.

I've personally always thought that some sort of global financial crisis could be helpful in terms of getting people to adopt bitcoin. Especially one that has inflationary consequences, with rapidly increasing prices and CPI overall.

For example, just look at individual cases like Venezuela and Turkey, where bitcoin is definitely helping individuals to store their wealth away from their fiat currency, and thus leading to more adopters. This could happen under a global scale as well. Whether or not this actually evolves into a global payment network is another, but increased adoption of bitcoin as a store of value internationally is definitely possible under these circumstances.

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September 03, 2018, 09:30:35 AM
 #3

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

Well, it all depends on the country. If a country really does depend on the global trade then if you are among this people then you can just make crypto as the transition for you to transfer your savings into it.
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September 03, 2018, 09:38:46 AM
 #4

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

Crypto currency doesn’t add up value to the national treasure yet and if it has to then it will need to be utilised on larger scales within the national and international trades. In reality we are just using the dollar values and much more to denote the value to crypto based on how much money has been placed into that particular project or coin. There is no contribution of crypot yet intot the real world. I believe that during the financial crisis such asset or crypto coins won’t be that much helpful to recover it.


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Binugon
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September 03, 2018, 11:00:25 AM
 #5

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

Bitcoin will only help the individual economy, maybe Bitcoin can help a country's economy if the government requires taxes for traders.

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September 03, 2018, 11:20:00 AM
 #6

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

It's an interesting thought for sure.

I've personally always thought that some sort of global financial crisis could be helpful in terms of getting people to adopt bitcoin. Especially one that has inflationary consequences, with rapidly increasing prices and CPI overall.

For example, just look at individual cases like Venezuela and Turkey, where bitcoin is definitely helping individuals to store their wealth away from their fiat currency, and thus leading to more adopters. This could happen under a global scale as well. Whether or not this actually evolves into a global payment network is another, but increased adoption of bitcoin as a store of value internationally is definitely possible under these circumstances.

The situation with local fiat money (inflation) will be worse not only in Venezuela and Turkey but also in all developing countries. So it will definitely bring some part of the population from these countries to crypto market.
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September 03, 2018, 11:51:37 AM
 #7

I think we're getting close to the next financial crisis. Germany recently proposed the creation of a new global financial system without having the US in control of it, all of this due the political crisis between US and Iran. This system could potentially trigger a devaluation in the US dollar, and I could see Bitcoin being the winner in the whole situtation.

People will simply start looking for a way to store their wealth, and Bitcoin can offer that. This could make the Bitcoin adoption grow exponentially among the general public thus making the price skyrocket in no time. This alternative to the US dollar could also appeal to investors making them pour more capital into the crypto ecosystem.
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September 03, 2018, 11:55:41 AM
 #8

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?
I am not sure I understand what you mean. Are you saying that crytos will be the global crisis, or is it that they will help to overcome it? If people keep trading cryptos for the sake of trading and only focus on quick profits, the prices will get more and more manipulated by some half-fake news and this might indeed form the bubbles and eventually lead to their explosions. But the bearish market of our times is helping to circle out this option, because people get to realize which prices they truly believe in. If the market doesn't skyrocket, crisis cannot occur. And deflation cryptos can surely save the world when dollar finally collapses.
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September 03, 2018, 02:37:22 PM
 #9

When you already thinks about this, I suggested you start to buy land and make food for yourself and your entire family. When you still needs to buy something to your consumption, the economic crisis is your dead end.
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September 03, 2018, 03:12:41 PM
 #10

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?
Specifically, the global economic crisis also caused a slowdown in trade growth. When bitcoin comes in, there are a number of things that make the world economy increase.
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September 03, 2018, 03:35:25 PM
 #11

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

May be not because the crypto currencies are at the point where neither single government is agreeing on the acceptance of crypto as legal tender and nor they are trying to regulate it by any means. I guess this is the biggest problem in the crypto space and real world where two things are not meeting up at point of event where they will help reduce the economic crisis of the world. They should have a proper protocol which will make this trade happen in right way. We dont even have proper infrastructure where this trading can be done within two internationally parties. The fiat currency is the only option and it has to be done by increasing internal and external import-export.

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September 03, 2018, 03:58:50 PM
 #12

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

Its really hard to ignore and this is discussion a whole lot of countries are avoiding to have which I believe they will eventually. The reason is simple, virtually every economy in the world is facing one challenge or the other and even the ones that looks like they are on top of the situation and able to manage their economic deficiencies to the envy of other countries are swimming in series of debt with domestic pressure coming from all angle which is why it seems what the economic administrators are only applying "Trial and Error" approach.

To transition to crypto would not be an easy task which I don't see it happening anytime soon not in the next decades at that but the countries that would benefit from it are the ones that have started early like Japan, South Korea and the likes while others are having their discussion under the radar, some other have decided the best route to go is to ban. They will blame themselves for not starting early.
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September 03, 2018, 04:02:45 PM
 #13

What exactly are you expecting switching cryptocurrencies will solve a economic crisis? From what I know a economic crisis or a global recession happens naturally and is like a reset for the market, nothing can solve it but it will fix on its own. We may see that several marjets are down due to people loquidating their assets in the need for money but the truth is switching ti cryptocurrencies now won't really change or do a positive thing for what is happening right now.

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September 03, 2018, 04:47:42 PM
 #14

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?

Bitcoin will only help the individual economy, maybe Bitcoin can help a country's economy if the government requires taxes for traders.
Yes, you are right, especially in some countries they do not legalize the use of crypto, of course it is very sad, I think it depends on the government in their country if their government legalizes the use of crypto, it must be taxed, so the use of crypto is based on the legal government, so using crypto is everywhere.

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September 03, 2018, 08:41:28 PM
 #15

To date, the economic situation in many countries is in critical condition. Can the next financial and economic crisis be a transition to global use  of crypto currency in international settlements?
I think the economic crisis is coming regardless of the situation with cryptocurrencies, the system is becoming simply too unstable to keep going, if cryptocurrencies did not exist I'm sure that we will see a major shift to gold and silver but now thanks to this new market that transition will include cryptocurrencies especially bitcoin, which is great because gold and bitcoin complement each other, we could use gold and silver as cash and bitcoin as an online system of payments.
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September 03, 2018, 08:56:20 PM
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apparently not, because the economic crisis has an impact on economic development in developing countries whose impact on developing countries is negative. should be when the international economy is stable then there is the time for crypto to be able to engage

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September 03, 2018, 08:58:48 PM
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With many economies failing and banks unable to offer financial solutions, people are beginning to see the value of Cryptocurrency and are adopting it. Global crisis will drive crypto adoption certainly
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September 03, 2018, 09:46:44 PM
 #18

No, you are wrong because there are no objective reasons for that. In fact there are several countries which are close to the default as far as I know it is Venezuela, India, Turkey, Pakistan as well as the current world financial situation may say "cry to us about the next financial crisis" but I cannot figure out why do you consider that crypto currencies will substitute national currencies? In my opinion I consider that in the period of the next crisis currencies of developing countries will be weak but the major currencies (like dollar, euro, yen and some other) will be quite strong because investors usually use them as a refuge. What about crypto currencies, their liquidity and capitalization is ridiculous small to use them as a refuge for a big capital. Crypto currencies will likely grow but they are not going to substitute any national currencies in the near future. 
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September 03, 2018, 10:30:57 PM
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apparently not, because the economic crisis has an impact on economic development in developing countries whose impact on developing countries is negative. should be when the international economy is stable then there is the time for crypto to be able to engage
I again think that when the economy is tough, it is the opportunity for the cryptocurrency market to grow because then investors will need a channel of investment to secure the security of their assets. You can see when there is political uncertainty is Bitcoin price increases, which is a testament.

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September 03, 2018, 10:36:43 PM
 #20

It is probably yes.
The global economic crisis happens not only now, it also happened in the recent decade and it could be solved. While the economic crisis is happening, it is a opportunity for crypto to spread wide the existence and prove the system which offers simplicity and huge money industry inside. It is time for crypto to grow and solve the economic crisis.

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