The collapse of the system

[Garylaba]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

[Tipstar]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

Cryptocurrency has been a way to avoid the flaws of traditional financial system for quite a time. Financially excluded country have taken benefits and really did flourished their economy with the use of crypto in the last decade. Russian and Iran being two of the successful examples.
The traditional financial system is highly regulated and is in a close control of limited number of elites. The capital market has huge flaws as they don't balance themselves or are hugely influenced by external factors creating periodic depressions. This time people have crypto as a rescue boat.

[Kakmakr]

We have seen an influx of investments into Crypto currencies when the traditional financial markets are struggling. I want to predict a massive shift into possible safe havens like Bitcoin, when there will be a next financial crisis ...and believe me, it is coming. The signs are there that the Stock markets is over valued and that the political scene between super powers are being balanced on a knives edge. 

The Banks and other financial giants did not learn any lessons from the previous crisis and the debt is still spiraling out of control. Expect traders to look for something with a store of value, like we have in Bitcoin. 

[Bttzed03]

I think we can use the case of countries like Venezuela whose traditional financial system already collapsed. Cryptocurrencies like bitcoin, dash, and litecoin have been the go-to currency of Venezuelans. If this collapse happens to more countries, citizens will likely follow what the Venezuelans are doing. Crypto market is going to explode if that collapse happens.

[gantez]

If there is anything like financial crisis on fiat, I think the crypto ecosystem is already available to cushion whatever hardship that might come up. It won't be felt like in the past because monies are definitely going to be converted into fiat.

[Artemis3]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

It depends in what you even mean by that. The system has ups and downs, but it never disappears. The bubbles are caused by the dominant school of economy based on debt rather than savings, inflation rather than deflation. And all bubbles pop. With a different type of economy, bubbles never form, and therefore never pop, things fluctuate as before, but in less magnitude. This is what Bitcoin will ultimately be, as a deflationary coin, and some smart people will find out the only school of economy that promotes the use of deflationary coins, which is the Austrian school. Then follow their ideas and then the world will enter a new stage.

You could say the Chicago school of economy will collapse, but not yet, it still has way to live. Bitcoin will live in parallel, unaffected by the stupid bubble/pop cycles. If people want to leave that dynamic, they might seek refuge in Bitcoin or more traditionally, the metals.

In a deflationary school, the banks are optional. And they cannot use your money without your permission, like they do in the current system. With deflation, fractional reserve banking no longer works, and only full reserve banking is adequate. Many people here don't know it, but that is precisely what online wallets and things like exchanges are, not because they want to, but because they have no choice. Lending your money has to be your choice, and if lent, it cannot be available until the term ends. And yes, if you want for third parties (banks) to keep your money, LOGICALLY you have to pay them fees, which is exactly what is occurring when you put money in/out of exchanges/online wallets etc. You are paying the bank to keep your money, if you ever used such service you have already done it.

[FIFA worldcup]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

Every financial system faces a decline. The collapse of the fiat system is surely coming but no one exactly knows when.
Do you have any evidence or source which shows the correct prediction of this economic crisis ?

[Jet Cash]

The financial system won't collapse. It will be changed into a different system, with different controls to benefit the elite. There are already signs that they are closing the current system so that they can lose their debts, keep the assets they have obtained, and carry your debts over into the new system. You have to work out how they are doing it, and how you can benefit from the changes. One thing is certain, we are going to go into a period of substantial wealth transfer, just make sure you are on the right side of it.

[spadormie]

The financial system will just improve and will not collapse. Look at what's happening now, with just a few taps on your phone, you can now pay your bills without any hassle. It's like a fire that was invented a long time ago and right now, the use of it just improve with the use of stoves. The idea of it didn't collapse but improved.

Currency using bitcoin in the world could be hard to implement since we need to consider a lot of things especially its volatility. Imagine your $10,000 will go down to $9,500 if the market goes down. Nobody would like it right?

[Sexaphiliac]

Well, a finiancial system has to be in existence. In the eventuality of the crash of existing financial systems, cryptocurrency at the very least will experience some form of speculative adoption as a means of transacting on a large scale. A very postive outcome for the cryptocurrency market could easily be expected everything else remaining equal.

[fiulpro]

I think the basis of cryptocurrencies is getting the system collapsed ...if it is not doing good for the people .
Economy is going to collapse sooner or later .. but if we go according to the cryptocurrencies I think we can see a positive growth since we have examples where it served to be of great importance in times of crisis .. it actually helped a lot of people to get across and it actually overturned the government ..
I think this might be actually good .. the current system is not sustainable.

[sunsilk]

People are learning today that bitcoin can be a safe haven and a great store of value so if that time comes and another crisis comes to the world. I guess that we're already going to see pressure from them saving the assets they have through converting it to bitcoin.

And I think many large players of the economy has prepared themselves if that comes.

[Reid]

My own opinion, hmmm. It will be a scapegoat.
Look at those rich people by now. They are getting wiser.
Investing in gold and other unique stones.
Now there is a problem. They also need something that can save their money in a faster way.
Bitcoin could be the answer to that.
I mean, if there will be a sudden fall in the financial market there should be something that can save them in just one click away.

But then, when everything is fixed, we know what will happen.

[pooya87]

the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

[bkbirge]

The financial system won't collapse. It will be changed into a different system, with different controls to benefit the elite. There are already signs that they are closing the current system so that they can lose their debts, keep the assets they have obtained, and carry your debts over into the new system. You have to work out how they are doing it, and how you can benefit from the changes. One thing is certain, we are going to go into a period of substantial wealth transfer, just make sure you are on the right side of it.

This is a scary scenario. I think it is easier said than done to be on the right side of that equation.

[bkbirge]

the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

I bet a lot of altcoins will die as you say but I envision the space more like a bunch of penny stocks and btc as the blue chip. There will be lots of traders that keep altcoins alive, and most will lose their shirts but some will become fabulously wealthy.

[btc_angela]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

If you are talking about crypto to be a hedge for financial crisis, I wouldn't say that bitcoin is the best bet out there. It's been touted as a store of value (SoV), so I wouldn't be surprised if we ever had a global crisis, bitcoin will be on top and the rest of alt coins market suddenly died down and collapse. Just look at the state of the alt coin, majority of them haven't recovered since 2017. So just imagine if the scenario you portraying are going to happen in the next coming years.

[MonsterV]

Well, a finiancial system has to be in existence. In the eventuality of the crash of existing financial systems, cryptocurrency at the very least will experience some form of speculative adoption as a means of transacting on a large scale. A very postive outcome for the cryptocurrency market could easily be expected everything else remaining equal.

Well it will be a real adoption when crisis is at highest point and not over. If crisis lasts only briefly, I think investors or holders will be more resistant to crisis situation. Sometimes they don't know whether crypto is able to save their funds or not, because not all investors are interested in crypto and they could run to gold.

the "cryptocurrency" market aka altcoins will most probably collapse hard and we may see disappearance of at least 90% of them simply because they are all gambles with ridiculously high risks and during a financial crisis nobody goes near anything that risky with their money specially when that thing is mainly manipulated and is getting pumped and dumped.

but bitcoin could be a candidate to see a significant rise. because we have seen so far that it has always moved on its own mostly disregarding the rest of the world (and markets) with whatever is happening in them. that makes it a separate thing that could be the option for investors who would be looking for a way to save the value of their money while their fiat tanks.

Only shitcoin will collapse and not for te top altcoin, when bitcoin rises then altcoin will also be correlated even though altcoin was not interested at that time but influence bitcoin is still there. But what is clear is that bitcoin is safest from any crisis, and if you want to try a new designation I think altcoin can be a bet, because we do not know whether altcoin at that time was able to pump high or not.

[arpon11]

Good afternoon,

I would like to gather your opinions on the reaction of the cryptocurrency market in the face of a fall of the traditional financial system.

There are many signs showing that a new crisis is coming, it will be much more powerful than in 2008 and have a bigger impact.

How do you think the cryptocurrency market will react when the system collapses?

Thanks for sharing

The cryptocurrency market will definitely going to provide solutions to the crisis. Bitcoin is discovered to provide an alternative for a time like this and we are not going to have more problems than what we have now. I believe that in some years to come bitcoin will be above $200,000 or $100,000 as far as we keep using it as a store of values like gold and commodities. Investors will diversify their investments to bitcoin from stock market.

[zviadits]

Already now it is clear that the crypto market is becoming an asylum for people which suffer losses due to the fall of the traditional financial  system. Fortunately, the crypto market is more stable in relation to the problems of the economy, because here everything happens according to other rules. In my opinion, the collapse of the traditional financial system will strengthen the crypto market in particular Bitcoin many times.