Economic situation around the world and Bitcoin

[finzyoj]

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 😀😀😀

Lol, what are you trying to insinuate here, that bitcoin transaction is very slow? I know bitcoin has that problem already and you don’t have to throw it to our face and when it comes to cryptocurrency payment, bitcoin is not the only coin that we can use, if we feel that bitcoin is very slow, there are coins like Ethereum that could serve some purpose because bitcoin itself cannot even do it alone.

I think even we use faster coins like what you've said, Ethereum, it still can't beat fiat at least for now. I'm not saying that crypto can't defeat fiat in terms of doing fast transactions at all but it's just so happens that crypto is not yet fully developed and can't yet fully harnessed at the same time. Maybe I'll be convinced if we could have a ' scan → *beep → go away" kind of transaction.

[supercanada1]

yes of course, technology is developing rapidly, and so is the transaction tool, in my opinion some countries will also adopt the bitcoin system, for example Indonesia, which has legalized bitcoin because they already know the potential of bitcoin itself going forward.

Not only this that bitcoin is getting legalized all around the world gradually but also there are states that are pondering over setting up bitcoin ATMs so that more and more people believe in this currency and it becomes convenient for people to use this currency on daily basis. Indonesia will experience great improvement in economy soon.

[cryplion]

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

[Edraket31]

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

That was so tough, yes indeed, sad reality but for sure you will not do that, but what they means is that are you willing to buy Bitcoin and borrow money just to have it, if not, then, it is your choice and decision and no one will force you to invest your last money for it, as it is not wise and advisable.

[alyssa85]

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

It doesn't require the poor to switch to bitcoin. Just those who have assets who fear losing it all. In other words the upper middle classes.

[yulionoo]

in my opinion the world economy is experiencing a recession due to a trade war between China and the United States. most of the stock market has declined. and most currencies in third countries weakened because the dollar strengthened. and when the world economy goes into a recession some investors will definitely choose to move their assets to financial instruments that have lower risks such as gold. and maybe some will go to bitcoin but I don't think this will affect the price of bitcoin too much.

[jatin729]

I don't think that crypto currency has any negative impact on global economy.
Now a days most of countries has bad economic conditions because trade war and cold war in Middle east.

As per some reports, I have read that There are some few percentage of people who know about Bitcoin, and there are very small % of people who actually own crypto asset. We cannot compare bitcoin with world economy until there is equal participation in crypto from all countries.

[vintages]

You shouldn't use the situation or the stand of gold globally to measure that of Bitcoin. Gold has always been there and will continue to make impacts. Moreover, economic situation of a state can push people into adoption of Bitcoin too, look at the situation of Zimbabwe.

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

Don't be too sure to judge yet, once the price of Bitcoin start to pump like it did in 2017, many people, even those who don't have the fund will do anything to get it.

[iMark]

I don't think that crypto currency has any negative impact on global economy.
Now a days most of countries has bad economic conditions because trade war and cold war in Middle east.

As per some reports, I have read that There are some few percentage of people who know about Bitcoin, and there are very small % of people who actually own crypto asset. We cannot compare bitcoin with world economy until there is equal participation in crypto from all countries.

We don't discuss the effect of cryptocurrency on the world economy anyway. we discussed about the bad economic conditions will make many people then adopt bitcoin or not. I think people will certainly look for another currency that is safer than their fiat local currency, which is very vulnerable to inflation when the economic crisis occurs, of course the first choice is gold, because they have a stable value and tend to rise. I think cryptocurrency will not be the first choice for this case, but I am sure that even when the economy deteriorates, many people will definitely adopt bitcoin so that their economy improves because of the benefits.

[Webetcoins]

Only problem with Bitcoin  is the Volatility.

Today You sell Something 500 tomorow You Got Only 300 left.  Value.

I Think one day the btc Will have stable value one day When Fiat currency  Will be worthed less

Legalization is necessary for all projects to gain trust and seek interest of masses. Everyone is fully aware of the potential of bitcoin and contemporary crypto currencies but definitely they scare government. In some countries government is not showing any keen interest or concern towards digital currency and people are easily using bitcoin there.

People need regulation simply to avoid scamming otherwise crypto currencies does not need regulations by government for their maintenance or survival. They are already being used all over the globe and people are making decent profits from them. This is great that people are pursuing bitcoin without the interference of governments because they put taxes everywhere.

[Wintersoldier]

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

Basically it is not that quite easy for a country or state to adopt to bitcoin when they have a huge population, and in terms of CHINA and USA, they need more time to think especially their government to consider the possibilities of having bitcoin to their economy. But I'm pretty sure there's already allot of person who knows and already utilizes crypto in their country, and these people will be the key to huge market adoption and wide implementation of crypto.

[White Christmas]

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

Actually this is a good question to ask if the economic situation will affect the people especially the government to utilize and accept bitcoin in order for them to help their economic growth. First and foremost the Venezuela accepts and become a ready on bitcoin because their economy is mess up and very down so the Venezuela thinks that the crypto will be able to help them to utilized and brings back their economy. In China this is a big impact because of what President Xi the bitcoin become up very high.

[davinchi]

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.

That is true and this is the reason why we are taught to do savings. Money saved during good times help to survive in bad times and this cannot be denied also that time never remains same. Moreover, what can be better than saving money in such a form that if after years you look at that amount, it is twice or thrice greater. I am talking about bitcoin here. Save money in the form of this digital asset.

Many people wait till problems arises before they start investing in digital asset while the case should be that they invest ahead of time because when it comes to savings, it is meant to be something that should be a saviors for us in the future in terms of bad condition like you said.

If the economy of the world goes bad, the only people that bitcoin would save then are those that has already invested in bitcoin prior to when the economic situation got worst and even the gold that we are talking about, people don’t look at saving or holding digital asset when there is crisis, they do more of spending because income becomes quite tight, so it is still those that invest now ahead of time that will still enjoy the economy in term of crisis of the world.

[Polo7]

As I predicted month ago... That Gold Price Will pop.    Now we witnessing that Gold is Down Today!!  


I dont think anyone here want to argue with me anymore about investments Economy and Global Financials.

[GideonGono]

You shouldn't use the situation or the stand of gold globally to measure that of Bitcoin. Gold has always been there and will continue to make impacts. Moreover, economic situation of a state can push people into adoption of Bitcoin too, look at the situation of Zimbabwe.

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

Don't be too sure to judge yet, once the price of Bitcoin start to pump like it did in 2017, many people, even those who don't have the fund will do anything to get it.

They will need to sure their future of course and specially their liabilities and needs for them to save theirselves from crisis. It is good that the bitcoin introduce for compatible country which the industrialised country because they have some financial for crypto that will help to increase the price of bitcoin.

[NeironixNV]

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

The world situation is ambiguous, so far everything is calm, but the US stock market is overheated, and in the long economic cycles of 10 years, we are approaching a new crisis time. I read at the Neitonix io, that China is now starting to speak positively about the crypt and promoting it to the masses, I think in the future Asia may become the financial center of the world, shifting the US to the background.

[Xxmodded]

You shouldn't use the situation or the stand of gold globally to measure that of Bitcoin. Gold has always been there and will continue to make impacts. Moreover, economic situation of a state can push people into adoption of Bitcoin too, look at the situation of Zimbabwe.

No, people would not go into digital things when they have ecnomic crisis. Just imagine, if you are so poor and worries about what can you eat tonight, will you put your last dollor into bitcoin?

Don't be too sure to judge yet, once the price of Bitcoin start to pump like it did in 2017, many people, even those who don't have the fund will do anything to get it.

They will need to sure their future of course and specially their liabilities and needs for them to save theirselves from crisis. It is good that the bitcoin introduce for compatible country which the industrialised country because they have some financial for crypto that will help to increase the price of bitcoin.

Economic situation only take care with their country self without think how economic situation on other country, better for other country never heard with US recommendation by adopting USD for every transaction from other country, why not move your transaction digital with bitcoin as currency payment, without inflation and your economic condition country on your hands.

[perfect999]

And do you think that by making use of Bitcoin these countries will become rich overnight and be better than other countries? You should use yourself as an example, how much have you made since you got into this? And I do know for sure that if you made lots of money, none of them were gotten for free, you must have invested money. Faucets are the only source of free money when it comes to cryptocurrency and majority of them are useless right now and not paying a reasonable amount of money.

The only thing is that cryptocurrency makes transactions fast, and cheap, if you think it is a magic currency that will make everyone become rich and make economy to start booming, then you're getting it wrong.