Economic situation around the world and Bitcoin

[haidil]

You're right, and to that bitcoins future are so bright. but we cant keep calm that there is always other country other than america we're want to put some barrier for the improvement of btc. btc amd other crypto currency will bring huge changes in our society we should expect a lot of things to happen.

I think this is more about the way America is trying to use USD as the No. 1 currency in the world. Bitcoin shouldn't be more popular than USD. But bitcoin continues to gain hearts all over the world.If America had always supported 100% crypto, its development would have been much faster now.

You have a point probably the US doesn't support 100% the cryptocurrency especially Bitcoin simply because they want that USD to be number 1 currency in the world but through the existence of bitcoin it all changed. Bitcoin caught the attention of the mass through some extraordinary factors that USD doesn't have like a high volatility rate that is perfect asset for trading and investment. Bitcoin could give a certain country with better Economic status once they acknowledge it.

of course the US is afraid of bitcoin rivaling usd, because why now many people are interested and choose to make payments using btc.

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[Arkann]

You're right, and to that bitcoins future are so bright. but we cant keep calm that there is always other country other than america we're want to put some barrier for the improvement of btc. btc amd other crypto currency will bring huge changes in our society we should expect a lot of things to happen.

I think this is more about the way America is trying to use USD as the No. 1 currency in the world. Bitcoin shouldn't be more popular than USD. But bitcoin continues to gain hearts all over the world.If America had always supported 100% crypto, its development would have been much faster now.

You have a point probably the US doesn't support 100% the cryptocurrency especially Bitcoin simply because they want that USD to be number 1 currency in the world but through the existence of bitcoin it all changed. Bitcoin caught the attention of the mass through some extraordinary factors that USD doesn't have like a high volatility rate that is perfect asset for trading and investment. Bitcoin could give a certain country with better Economic status once they acknowledge it.

of course the US is afraid of bitcoin rivaling usd, because why now many people are interested and choose to make payments using btc.

I believe that today the number of cryptocurrency users is not critical to the existence of the dollar.  Based on this, I believe that cryptocurrency will not bring any special problems for the international currency, but you still need to pay attention to the other side of the coin, why the United States expresses dissatisfaction with cryptocurrency.  In most cases, this is due to the fact that many cryptocurrency users abuse the capabilities of the cryptocurrency market, evading taxes and using it with malicious intent.  In any case, this situation can be quickly corrected so that governments begin to support cryptocurrencies.

[EdvinZ]

In times of severe crises, most people tend to lose money because they do not think about any assets to save money. Many simply have nothing to put off in case of crisis. Those who have capital and want to save money in most cases choose proven methods, such as buying gold, for example. I think few are willing to buy Bitcoin, due to its strong volatility.

[Polo7]

In times of severe crises, most people tend to lose money because they do not think about any assets to save money. Many simply have nothing to put off in case of crisis. Those who have capital and want to save money in most cases choose proven methods, such as buying gold, for example. I think few are willing to buy Bitcoin, due to its strong volatility.

Gold is not safe heaven.

Gold price is manipulated. 
Gold price is determined the buy and sell orders on Gold exchangers like futures the ammount of Gold been traded Don't even Physically exist. !!


If we are looking for safe assets then we should not look the assets wich is traded on exchangers.
Same goes for bitcoin! 

[DaveWave]

I do think that the current economic situation directly or indirectly affects bitcoin. There are more companies and people that are investing into bitcoin as it is decentralized and has limited supply. There were even news before that Kim Jong-un was giving orders to mine bitcoin and other crypto currencies. North Korea was imposed with many sanctions that time including its export and limited import on oil. This was the time when Trump said that bitcoin is for criminals and underground activities. 

[bitgolden]

I have a silly thought, if bitcoin originated in America, I'm sure the whole world now uses bitcoin. I think this is just a matter of recognition for America as a superpower in this world.Hopefully in the future bitcoin can really become a currency that can be used by everyone in this world.Because blockchain technology has now begun to be used everywhere.

When I remember what trump said about bitcoin, I just look at them as an hypocrite, I am sorry to say, because if it was trump that actually create this whole cryptocurrency thing, I am sure that by now, they would have already imposed it on the whole world, but because they are not the one taking glory for it, they are rejecting it so that it does not make them less relevance or the world stop seeing them as the saviors they have always claimed to be.

They might even be silently designing their own cryptocurrency and still be making it look like they are not in support of bitcoin. Look at it now, after all trump has said about cryptocurrency, how come they still want to regulate binance, I thought they would have closed down all exchanges by now.

[ringgo96]

I think economic situation is getting worse and worse each day the whole global debt is increasing and is currently double of that of the GDP of the whole world. This means that our whole economy is nothing but debt. So this bubble will definitely burst one day.

When that happens I am still confused how people will be able to transact later? will move to old methods like barter or there will be a new currency that can give trust to many people to be used as a medium of exchange. maybe gold or silver

[NathanJB]

I think economic situation is getting worse and worse each day the whole global debt is increasing and is currently double of that of the GDP of the whole world. This means that our whole economy is nothing but debt. So this bubble will definitely burst one day.

When that happens I am still confused how people will be able to transact later? will move to old methods like barter or there will be a new currency that can give trust to many people to be used as a medium of exchange. maybe gold or silver

Gold and silver is possible. Or, as always possible with this fiat system, some unimaginable arrangements will be done like erasing all the debts as if nothing happened. The best thing that will happen is that cryptocurrency will take over and give the people the feel of using a real currency freely owned by them and cannot be seized from them by authorities.

[Polo7]

When year 2020 we see the line up of people by the grocery store...

They all waiting for btc Transaction confirmations to buy Milk.... Lol 😀😀😀

[ufaiz50]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

People who are in the circle of the world economy will not see bitcoin, they tend to want the security of their money if the economic crisis gets worse. exactly as you say the gold market is the best. This is just my personal analysis, because bitcoin is unpredictable, then the economic crisis could have a bad impact and could have a good impact on value, such as the transfer of investment to bitcoin.

[justdimin]

The wars are ever changing, look at USA right now, they are in war with China but it is not a war that goes with weapons anymore, it is financial. Remember a few years ago when Russian money became %50 worthless over night? Saudi Arabia dropped the oil prices for USA and Russia imports oil all the time so when their Oil started to worth a lot less their own currency dropped as well, all thanks to USA-Saudi correlation to attack Russia's finances.

Nowadays, those are the real wars, sure there are stuff going on in Syria but that is not really a big "war" it is just terrorism at this point, nations attacking each other like USA-Iraq is not really happening anymore, they realized they could make more money this way so they decided not to go to war with each other on land.

[buwaytress]

Of course China-US is all about politics and power, and just because it is currently a trade war doesn't take anything away from it being a regional control strategy.

I really don't understand why it needs to be denied (just like the QE4 denial going on right now in the US). People get it, and that's okay. Everyone's got to do their own thing to remain as relevant to their people as possible, for as long as possible.

Gold shouldn't have fallen because of Trump's China policy though. Not at this moment when CBs are buying every piece of Au they can find.

[Faxmate]

You have a point probably the US doesn't support 100% the cryptocurrency especially Bitcoin simply because they want that USD to be number 1 currency in the world but through the existence of bitcoin it all changed. Bitcoin caught the attention of the mass through some extraordinary factors that USD doesn't have like a high volatility rate that is perfect asset for trading and investment. Bitcoin could give a certain country with better Economic status once they acknowledge it.

I have a silly thought, if bitcoin originated in America, I'm sure the whole world now uses bitcoin. I think this is just a matter of recognition for America as a superpower in this world.Hopefully in the future bitcoin can really become a currency that can be used by everyone in this world.Because blockchain technology has now begun to be used everywhere.

USA is just not joining bitcoin explicitly but many organizations in the world based in or originated from united states of America are either curious about bitcoin or are involved with it. Of course, if it was some currency introduced by America, definitely being the super power, she must have tried to make every other country to use it and promote it.

[jmigdlc99]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

I believe if the economic situation around the world worsens, then there will indeed be more Bitcoin adopters because they will want to preserve the value of their money. Just like with what happened with Venezuela and Africa.

If things don't turn right for China and USA, we might see the same thing happening soon for the "losing" country.

[nasipadang]

Do you think this Economic situation will push More People into Bitcoin?


We know that countries like venezuela, ghana all Ready are Bitcoin adopters.

China USA  trading?  Do you think that has impact too?


Coz i think the gold market is about pop the bubble soon

I don't think it's an economic situation, if the economic situation get worse, depends on the mindset of investors, they want to move from stocks to gold or crypto. here which encourages more because of technological advances and developments that will emerge based on the blockchain. China and US trade wars will certainly have an impact on the world market situation.

[ivakar]

I believe if the economic situation around the world worsens, then there will indeed be more Bitcoin adopters because they will want to preserve the value of their money. Just like with what happened with Venezuela and Africa.

If things don't turn right for China and USA, we might see the same thing happening soon for the "losing" country.

I guess the main reason why people in country with huge inflation are buying bitcoins is simple, they are trying to save their earnings from inflation.
but that is working while the rest of the world is in a good shape, but if all financial system is going to collapse I doubt bitcoin could be safe harbour for all of us

[toast]

bitcoin is increasingly being liked and known by many people around the world, but there are always from big countries like America to support the progress of bitcoin development. I do not understand whether because they are afraid that $ will accept world currencies to accept bitcoin. Although America can proclaim bitcoin as a digital currency.

so right someday surely bitcoin and cryptocurrency will be used and if indeed cryptocurrency can overcome the economic problems in the world we all as investors cannot predict the development of cryptocurrency all back again to the government how the cryptocurrency will be used

[imstillthebest]

I guess the main reason why people in country with huge inflation are buying bitcoins is simple, they are trying to save their earnings from inflation.

thats true but there are also people that living on those country that buys crypto not because they they want to save thier money but because they want to experience the benefits of using a crypto   .

but that is working while the rest of the world is in a good shape, but if all financial system is going to collapse I doubt bitcoin could be safe harbour for all of us

not really . rest of the world are also experiencing other problems if not about inflation  . btc can also get affected if ever monetary system and other payment system falls down because there will be no medium to use when purchasing btc so do you think btc value can grow without them  ?

[arifteguhr]

bitcoin is increasingly being liked and known by many people around the world, but there are always from big countries like America to support the progress of bitcoin development. I do not understand whether because they are afraid that $ will accept world currencies to accept bitcoin. Although America can proclaim bitcoin as a digital currency.

so right someday surely bitcoin and cryptocurrency will be used and if indeed cryptocurrency can overcome the economic problems in the world we all as investors cannot predict the development of cryptocurrency all back again to the government how the cryptocurrency will be used

the direction of cryptocurrency for the future is still quite extensive because it can still develop quite far. even now it is still in the process of being introduced to the public. where in this stage the development has not been so massive due to the majority of countries opposing the existence of cryptocurrency

[BitHodler]

btc can also get affected if ever monetary system and other payment system falls down because there will be no medium to use when purchasing btc so do you think btc value can grow without them  ?

It would present an opportunity for Bitcoin to disconnect itself from the legacy monetary system, but that's something I don't expect to happen with how everyone will live in fear of what has to come.

Buying Bitcoin is not going to be on anyone's list in case we see economies collapse.... institutions and rational investors will do everything to unload every single satoshi that they have, which will drive the price back to $xxx levels.

People need to accept that Bitcoin is seen as a risk-on asset, one that thrives much better with a strong world economy than vice versa.... so in other words, don't hope for a recession.