WORLD CRISIS IN 2018

[buternasek]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

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[KonstantinosM]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

I'd like to hear more about your sources first. Which country is going bankrupt. What is your source for the US getting gold.

How is gold going to help during a debt crisis?


Anyway, my belief, and the belief of many libertarians (which are over-represented in the bitcoin community) is that if the dollar collapsed, people would escape into bitcoin thus pushing the price up.


People have been predicting the fall of the dollar forever, but it hasn't happened yet so don't delude yourself that it will certainly happen in 2018, or any other year without some serious understanding of the current economy.

[SUDARMONO]

it is true that the world is currently experiencing a crisis and that has happened to Venezuela, and it is possible that Crypto could also be affected.

[RomanPetrush]

We have a lot of *smart* people who speak about that crisis. Unfortunately, they could be right because of our history. 1998 - 2008 - and probably 2018/2019. Another collapse? I don't know, but that could happen.

[yazher]

I think you are merely speculating, How do you know which country is going to bankrupt and which one is not? on the other hands it doesn't affect the crypto markets price only drops in a dramatic way if some big exchanges are hacked and there will be a panicked selling again like last time.

[Strufmbae]

You should have to post this on the economics section since you want this to be discussed as economical condition.  China is one of the great sellers but you need some research about it, as you can see russia is still silent about this gold and other resources even philippines we have this wide source of natural oil that can surpass the economy of dubai, and talking about cryptocurrency adaptation russia and philippines can surpass china because all they are doing is banning projects of crypto blockchain that can help their ecobomy even just a little bit.

[jseverson]

There always seem to be someone that says that the economy is crashing every single year, and it really just never happens. Even global recessions have been survivable. I really don't see the death of the global economy in my lifetime.

Either way, gold is very scarce and there's no way hoarding it will be able to save a failing economy. It could help citizens of a failing economy though. It's unlikely that Bitcoin will be affected by any local crisis, but I seriously doubt it would be unaffected by a global one, where everything falls off a cliff.

Everyone has different theories, but ultimately, I hope we never find out.

[KonstantinosM]

it is true that the world is currently experiencing a crisis and that has happened to Venezuela, and it is possible that Crypto could also be affected.

Crypto would probably go the other way when fiats go down.


Iran has experienced 200% inflation over the last year according to china uncensored.

Here's an article from may that mentions 70% or so inflation in Iran. https://www.forbes.com/sites/simonconstable/2018/05/17/doomed-why-irans-economic-mess-will-get-worse/#7c79509b34fa

[batang_bitcoin]

there are even some countries declared bankrupt by the world this year.

What are these countries?

a country that is able to survive in conditions like now only countries that have a large gold stock.

That's one but it's not the "only" way to survive in such economic conditions.

China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis.

Do you have sources for this entire statement?

I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

During crisis, everyone that has been affected would look for some remedy just to flee from it and crypto mostly with bitcoin will be an option for them. It might be affected but the effect would be very low and its probable that they would choose it as a home for the meanwhile. I'm not an economic expert but this is interesting.

[aso118]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

I really doubt if China and America are collecting gold. You should probably include sources, if you want people to take you seriously. Nobody declares countries bankrupts, that is only for companies. Countries default on their debt obligations.
Even if we do have a crisis, I don't think the crypto space is mature enough to benefit as a safe haven asset.

[Thanasis]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

The world economy is not going into crisis in 2018 only some countries like Iran because of the USA's politics which causes the fuel price to sky rocket again but still everything under control there is no big fall in the most of the countries but in future we may have some huge crisis on the countries like USA because of poor managed governments based on some economic experts and even Simpson creators predicted that there will be huge crisis at 2040.

[taiwww]

I am not sure if I have heard of nay such news which states that there are countries which are currently going under bankruptcy. Well, though they go under such situation then they will be working on their deflation at the first and may recover situation by taking huge taxes over the products and services within the country.

Anyway gold is always the secured reservoir in many situation because its devaluation is impossible due to ever growing demand of it. The powerful countries will always have these in sufficient amount to cop up the crisis.

Anyways, the real deal is crypto currency that we need to discuss about. According to my guessing, crypto will get affected adversely because most of the investors will sell these for the gold as they will feel it more secure than the digital currency which may get volatilised very fast after the crisis.

[NeuroticFish]

By 2018 the world economy is falling,

We are getting close to that, but not there yet.

there is currently chaos in the economy around the world.

Umm.. nope, you're incorrect.

there are even some countries declared bankrupt by the world this year.

Bankrupt countries, or at least at the edge of bankruptcy, they are at the horizon for some time. Publicly declared bankrupt? No. That's bad business and it won't happen.

a country that is able to survive in conditions like now only countries that have a large gold stock.

Incorrect, by far. There are plenty of other ways, not only gold.

China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis.

Possibly China, but not US; US are usually overconfident on their printed paper.

I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

There's no crisis, not yet.
Bitcoin will not be affected by any crisis, it works very well.
On the other hand, Bitcoin price may fall, since big investors, the real ones, may have to sell Bitcoin to save other businesses. (Edit: on the other hand, Bitcoin should rise now, before crisis, since people should buy to prepare..)

Are you sure you wanted to know anything and didn't just want to convince Bitcoiners buy gold?

[wantjokull]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

Crisis and its effect on the crypto currency looks to me minimal. You know what it is very much like comparing the apple and oranges !! Yes, crisis wold happen with the countries situation in respect to the trades that are happening within the country. For example, things getting cheaper and government not getting sufficient taxes over it plus international output becoming lesser and lesser day by day and thus not getting any foreign money driven within the country and basically very small and big things that runs the countries economy. Now I dont see how that can affect the environment of crypto currency which is not having any bridge between the two.

[BloodKnight]

Obviously this is an event that every government knows. But what they believe is controlling the market and delaying the arrival of the financial crisis. But this is not a good thing. When the next financial crisis comes, it will be more intense.

[Panasony]

In my opinion, there is no clear threat from bitcoin to the financial stability of key markets over the next few years. Bitcoin is the electronic money that has the largest number of regulations and so far the currencies are most likely to get the most legal support. The value of electronic money will be the bright spot in the financial crisis.

[Doyenuklirblok6]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

Indeed, currently the 2018 world financial condition has declined significantly, but crypto can be an investment that can be profitable even though the crypto value can decline at any time but it is not a very serious problem because of course the world finances and especially crypto will definitely continue to be better and even produce huge profits.

[btc_angela]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

If you are going to red news from all over the world, yes, looks like we are in the brink of another economic collapse. If there is another catalyst, it would be 2008 again. As for crypto, if people are smart, they will run to crypto as store of value or hedge against such disasters. But its just my assumption, I might be wrong though, we really haven't seen crypto, only isolated countries with financial troubles has taken advantage of crypto like bitcoins, so it remains to be seen.

[TravelMug]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

If you are going to red news from all over the world, yes, looks like we are in the brink of another economic collapse. If there is another catalyst, it would be 2008 again. As for crypto, if people are smart, they will run to crypto as store of value or hedge against such disasters. But its just my assumption, I might be wrong though, we really haven't seen crypto, only isolated countries with financial troubles has taken advantage of crypto like bitcoins, so it remains to be seen.

What catalyst? Banking collapse of 2008? Not sure about that. I think the US government will go and try to avert it at any cost. They already have learn their lessons and I don't see Trump allowing it as long as he is the President. He already done a lot, like cutting taxes and economic reforms so it will not be the US as the catalyst if ever another global financial crisis occur.

Crypto has been touted the next gold, so I wouldn't be surprised it a scenario came to light when coins like Bitcoin become the go to hedge of investors globally. Gold and other precious metal will still dominate followed by crypto perhaps.

[goshay97]

By 2018 the world economy is falling, there is currently chaos in the economy around the world. there are even some countries declared bankrupt by the world this year. a country that is able to survive in conditions like now only countries that have a large gold stock. China and America are currently collecting gold from all over the world. the goal is to maintain their existence and also to survive the coming crisis. I want to know whether cryptocurrency, especially bitcoin, will be affected by the current crisis? I want to hear from the seniors here.

Crypto currency is their answer most likely.  The governments have been way to alright with a competing currency hanging out.  Usually its an all out war to destroy and kill the competitor off.  I'm positive this is the next iteration of controlling us with technology.  They will now see all transactions and have a tax weapon to yield against us and keep us poor.