Global Economic Crisis's and CryptoCurrency

[bitcoinzen]

1. Even if a global economic crisis happens, it will be 'national government currencies' which might go to zero. Why? Because governments are being servants to World Bank economics and are NOT issuing debt-free currencies of their own.

2. In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics. Even national cryptocurrencies might go to zero since they will be forced to peg it to their fiat currency which is already endangered to go lower and lower in value.

3. The only cryptocurrency with strong technology, use-cases and an influential team with both technical and business experts will be able to survive the economic downfall.

4. One must NOT get saddened by the fact that one is indirectly destroying or 'shorting' national economics/ the national currency (I don't know if I'm putting the right terms here) by getting involved in cryptocurrency, as it is the duty of the national government in these times to issue commodity backed debt-free currency in the first place whether it be fiat or crypto.

5. A true revolution cannot happen if the leader or the followers hide their true identities.

6. Those who come and call cryptocurrency 'sinful' and against religion, please tell me what you were doing all of this time when the value of your fiat currency kept on dropping year after year and the debt on nations kept on increasing? you will not speak a word against fractional reserve banking but use all your energy to call crypto a Ponzi scheme because you are envious of people making tons of money in it. If you want to be so 'religious', then come to me and I'll tell you that whatever means of earning money you use is also irreligious.. unless you are a farmer owning your own land and growing your own food, drink, clothing/ or a manual labourer without touching fiat money. I will prove it to you if you want to be so pessimistic and religious.

7. If you are of the opinion that the government 'care' about you.. no matter which country you are.. you are mistaken. Most of them do not give a damn about the welfare of their citizens but are busy devising strategies to get more money, expand business and defend their political position. Even few governments who might care for their citizens have no knowledge on how to truly run a nation as they do not follow the scriptures and hence most of their efforts will only create more problems. This is why you should STOP discussing politics as it only wastes your time and energy.

8. Those who want to go back to the physical barter system, it is NOT possible because the 'elite' have taken away most of the land, gold and murdered a large % of the bovine race.

[Wind_FURY]

OP, what is the point of your post? Bitcoin's aim is not to "kill" fiat currencies. Fiat is still more convenient, and cheaper to use.

The goal is censorship resistance, to be a sovereign store of value, to give users the ability to send "money" without intermediaries.

[prehisto]

You just state some things but dont provide basis for them, why most crypto currencies will go to 0 ?
Just because there is little value now, doe snot mean that it would go to zero.

In this kind of scenario cryptos would strive, that simple.

[clonely]

1. Even if a global economic crisis happens, it will be 'national government currencies' which might go to zero. Why? Because governments are being servants to World Bank economics and are NOT issuing debt-free currencies of their own.

2. In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics. Even national cryptocurrencies might go to zero since they will be forced to peg it to their fiat currency which is already endangered to go lower and lower in value.

3. The only cryptocurrency with strong technology, use-cases and an influential team with both technical and business experts will be able to survive the economic downfall.

4. One must NOT get saddened by the fact that one is indirectly destroying or 'shorting' national economics/ the national currency (I don't know if I'm putting the right terms here) by getting involved in cryptocurrency, as it is the duty of the national government in these times to issue commodity backed debt-free currency in the first place whether it be fiat or crypto.

5. A true revolution cannot happen if the leader or the followers hide their true identities.

6. Those who come and call cryptocurrency 'sinful' and against religion, please tell me what you were doing all of this time when the value of your fiat currency kept on dropping year after year and the debt on nations kept on increasing? you will not speak a word against fractional reserve banking but use all your energy to call crypto a Ponzi scheme because you are envious of people making tons of money in it. If you want to be so 'religious', then come to me and I'll tell you that whatever means of earning money you use is also irreligious.. unless you are a farmer owning your own land and growing your own food, drink, clothing/ or a manual labourer without touching fiat money. I will prove it to you if you want to be so pessimistic and religious.

7. If you are of the opinion that the government 'care' about you.. no matter which country you are.. you are mistaken. Most of them do not give a damn about the welfare of their citizens but are busy devising strategies to get more money, expand business and defend their political position. Even few governments who might care for their citizens have no knowledge on how to truly run a nation as they do not follow the scriptures and hence most of their efforts will only create more problems. This is why you should STOP discussing politics as it only wastes your time and energy.

8. Those who want to go back to the physical barter system, it is NOT possible because the 'elite' have taken away most of the land, gold and murdered a large % of the bovine race.

In today's economic structure, crises are common. Crises are actually a means of resolving economic congestions. So today's economic troubles do not have a connection with crypto money. And crypto coins cannot solve today's economic problems.

[Ucy]

A well decentralized Cryptocurencies (like Bitcoin, maybe?) won't go to zero during such crisis. A Cryptocurencies has to be well decentralized in most aspects such as in node and currency distribution..
*If the coin is concentrated in few hands, of course it will collapse during a crisis.
*If nodes are concentrated in fee areas, a regional disaster may wipe its coin off the face of the earth.

[Marcel555]

In defense of bitcoin you do not have to beat down fiat currencies or bundle up all governments Into an evil bunch.

In the event if a financial crisis I believe both fiat and cryptocurrencies would be hit, one could thrive on the downfall of the other though.

[Conasse]

In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics.

But we get the opposite, during multiple economic crisis Bitcoin was going higher day by day. For example during Greece crisis. Aslo there is no link between a currency and a cryptocurrency

[ixtreme1gaming]

I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

[Bagaji]

5. A true revolution cannot happen if the leader or the followers hide their true identities.

Point of correction, it depends on the type of revolution that's at work at that moment. Bitcoin operating on a decentralize Blockchain technology along with other cryptocurrencies is a welcome revolution for a transparent world. 

[fortresscoin]

True.  Crypto coins are a way for new technologies to be introduced and to raise money for development.  Right now though, Bitcoin seems mainly to be either a driving force or a fly in the ointment with which governments must contend, mostly on a regulatory basis.

[DooMAD]

I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

The idea of cryptocurrency is that it's trustless, but as soon as you introduce a commodity, you're back to trusting someone to hold that commodity securely.  All you really have is an IOU and a hope that it means you can actually redeem your tokens for physical gold.  In which case, why not just hold the gold if that's what you really want?

Also, it's normally the governments of the world who are holding most of the gold, so how would a cryptocurrency bring the government down if it's backed by the same gold the government itself is holding?

[bovid]

I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

So something like Tether just with gold instead of USD?

[dothebeats]

In an economic crisis, MOST of the so-called cryptocurrencies will also go to zero just like national currencies subject to World Bank economics.

But we get the opposite, during multiple economic crisis Bitcoin was going higher day by day. For example during Greece crisis. Aslo there is no link between a currency and a cryptocurrency

The likes of Venezuela and Greece is a fine example that bitcoin isn't affected by any domestic economic problems but it can affect these countries, especially its citizens who carry the burden of these problems. IMO, bitcoin would experience a surge in interest if a financial crisis is to happen again; people might see it as a great hedge or to just keep their assets intact in the midst of a financial storm. We are yet to see whether this will hold true, but the likelihood of people converting to bitcoin or gold during these events is high.

[Bergqvist]

Economic crisis is a part of the financial system. If a crisis comes both crypto and fiat currency would get a damage. Lets just hope we would never see such a day where both crypto and fiat price fall to zero.

[pooya87]

economical crisis is not the same as economical annihilation. so you are wrong in thinking if an economical crisis happens some "national government currencies" can go to zero because as long as the country is on the map they will have a national currency that will worth something even if its value drops.

and none of this has anything to do with bitcoin or cryptocurrencies and their values. we may only see a price surge in bitcoin in short term as some FOMO buyers start buying bitcoin but i wouldn't expect much else.

[nsson8e]

Today's economic structure, economic crisis has become common. Crisis just means a way of resolving economic congestion or something similar along the lines. So today's problems can't be connected with cryptocurrency. I don't think cryptocurrency can solve todays economic problems not the way it wants to be solved at least. And Bitcoin's aim as far I can tell is not aiming to "kill" fiat currencies. Fiat is still convenient and cost effective. But this sort of discussion could change in the future and how the economy changes.

[Rufuspetersko]

Fiat is still more convenient and cheaper to use. The goal is censorship resistance,to be a sovereign store of value. In this kind of scenario cryptos would strive,that simple.

[Pursuer]

I'm just waiting for a crypto currency backed by a commodity like gold or silver. Trust me' it would bring down manny corrupt GOVs in a matter of weeks.

So something like Tether just with gold instead of USD?

I think there already are altcoins that claim they are backed by these things. but that doesn't matter. similar to Tether they will be centralized and at some point their integrity will be questioned. not to mention that you can never keep their value stable as you can see with USDT, it is susceptible to drops and drops have the risk of crashing it to the ground. imagine if Tether dropped drastically instead of this current small drop, the panic dump of it would bring it down to 0.

[YuginKadoya]

That's is a way the bank and government thinks, don't ever lump the economical crisis of a country with bitcoin because it doesn't really goes like that, We can say that the inflation is due to the droping value of fiat currency, and it will always goes that way it is just the way the economic system works and cryptocurrency has nothing to do about it.

[PipeMaddox]

The value of crypto still doesn't play any vital role in global economy. And still, crypto hadn't become that reliable to replace the fiat coins. So the crypto can't be made a main currency so quickly.