Big test for Bitcoin during the next Economic Collapse.

[Wind_FURY]

...
Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

Hyperinflation with the USD is very unlikely to happen. The difference between the USD and the rest of the currencies is that it is widely accepted as a means of payment pretty much everywhere (at institutional level I mean). This means that the value of the dollar is not only backed up by the products and services of the USA, but by all the goods and services (e.g. crude oil,financial,...) that can be bought with it. Also, the inflation can be controlled by the FED and my take is that they would choose to do so if it rises above 3%

The United States Government has been BRRRR printing more cash, higher than its Gross National Product. If that’s your basis for backing, then it’s not backed 100%.

Plus your other point is that it’s backed by “all goods, and services that can be bought with it”? How does that stop hyperinflation?

[1714677191]

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[1714677191]

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[Kong Hey Pakboy]

Only one way to find that out is if there is going to be a collapse, we didn't have any collapse that is as drastic as the Great Depression and 1929 Wallstreet crash with the Internet so that is also another test that we should be looking out for, if Internet will survive a crash because if it does then bitcoin and other cryptocurrency is going to survive too.

[shoreno]

those that who use a bitcoin can answer the question if btc is only for speculation or not . im a btc user and for me btc is pretty useful and not just a mere speculative thing  . bitcoin did crash before but just like an economy that can recover btc does aswell  . not all are going to run for btc and if ever there are , not all are using btc as a store of value . covid is not the first pandemic that shake the planet and it wasnt the first time for a country to print much cash , satoshi already experience that thats why he maybe built btc to solve that .

[Wind_FURY]

those that who use a bitcoin can answer the question if btc is only for speculation or not . im a btc user and for me btc is pretty useful and not just a mere speculative thing  .

It is very useful, just ask those people who buy heroine from the dark markets.

bitcoin did crash before but just like an economy that can recover btc does aswell  . not all are going to run for btc and if ever there are , not all are using btc as a store of value .

Because Bitcoin depends on the open market for price discovery. Blame high volatility for the “crashes”, BUT zoom out, are they really “crashes”.

covid is not the first pandemic that shake the planet and it wasnt the first time for a country to print much cash , satoshi already experience that thats why he maybe built btc to solve that .

Bitcoin’s biggest test is coming, and with MicroStrategy, Tesla and other institutions HODLing, I’m confident that it will pass the test.

[fullhdpixel]

Around 2018 bitcoin started to crash and got very low early in 2020. During this time was the respiratory awareness time and shortly after countries started closing up for business then bitcoin started an increase. I think covid-19 rather helped bitcoin to increase and just like you said, institutional investors started avoiding fiat and using bitcoin.

I do agree that it didn't see a crash like 2018 but we can't disagree that bitcoin dropped a lot last year around these times, we are now 10x higher that is great and I do not think that anything has gone up 10x in the past 1 year if you look at it from march 2020 to march 2021, but it is still a fact that we were around 9k and dropped under 4k for a short period (few hours) and were around 5k to 6k for a whole month until it started to get to 10k again but it still had a decent level crash that was around 50% or so for a while in march.

The good thing about it is that crash didn't take as much as other things, and gold is not doing great right now, and dollar is getting less and less valuable, and stocks are increasing like crazy but not 10x like we did, so things are a bit complicated a bit. I personally believe bitcoin faced this crisis amazingly but that doesn't change the fact that we have seen a crash.

[AndySt]

Around 2018 bitcoin started to crash and got very low early in 2020. During this time was the respiratory awareness time and shortly after countries started closing up for business then bitcoin started an increase. I think covid-19 rather helped bitcoin to increase and just like you said, institutional investors started avoiding fiat and using bitcoin.

I do agree that it didn't see a crash like 2018 but we can't disagree that bitcoin dropped a lot last year around these times, we are now 10x higher that is great and I do not think that anything has gone up 10x in the past 1 year if you look at it from march 2020 to march 2021, but it is still a fact that we were around 9k and dropped under 4k for a short period (few hours) and were around 5k to 6k for a whole month until it started to get to 10k again but it still had a decent level crash that was around 50% or so for a while in march.
The good thing about it is that crash didn't take as much as other things, and gold is not doing great right now, and dollar is getting less and less valuable, and stocks are increasing like crazy but not 10x like we did, so things are a bit complicated a bit. I personally believe bitcoin faced this crisis amazingly but that doesn't change the fact that we have seen a crash.

The statement about the avoidance of fiat currencies by institutional investors looks very controversial and quite presumptuous. Strictly speaking, we can only say that institutional investors have finally taken notice and started to invest significantly in bitcoin. Previous crashes do not cancel out subsequent ups and serious investors usually do not like such roulette games from casinos on the market, and therefore we hope that the arrival of such serious big players will allow us to avoid such collapses.

[Silberman]

I am starting to believe that Satoshi created Bitcoin for what’s coming next, or might come next. Because of the COVID-19 pandemic, I’m not sure about the rest of the countries, but the United Stated Federal Reserve prrrrinted inordinate amounts of U.S. Dollars to stimulate the economy, with plans to print trillions more under President Biden. All the prrrrinting and a falling GDP MIGHT be the seeds for the worst situation of an Economic Crisis. HYPERINFLATION.

Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

It is too early to tell but so far I have liked the performance of bitcoin under the current circumstances, when people realized that the pandemic was not going to be contained and it was going to move all around the world and we did not had answers to how dangerous it could be the stock market went down and the same happened to bitcoin, but since then its performance has been incredible and thanks to all the money that is being printed and that it is going to keep being printed then it is safe to say that the price of bitcoin is going to keep going up even without hyperinflation.

[tygeade]

It has been one of the biggest tricks in american politics that you guys have been fooled by two party system, it has always been one of the worst ideas to begin with and it is really proof that you guys are tricked into thinking they are any different. Republicans voted for 2.2 trillion help and all republicans cheered for it, without exception, why? Because republicans and Trump was all mighty and they can't do anything wrong, and all democrats were against that because it would destroy the monetary system if they printed that much.

Now Democrats are giving away that much money, and all democrats think that is awesome and perfect, whereas all Republicans are against it. What are you defending and what are you against? It is the same thing, sure you will be fed some reasons or you can make a reason up yourself but let be real, both parties suck big time.

[Wind_FURY]

I am starting to believe that Satoshi created Bitcoin for what’s coming next, or might come next. Because of the COVID-19 pandemic, I’m not sure about the rest of the countries, but the United Stated Federal Reserve prrrrinted inordinate amounts of U.S. Dollars to stimulate the economy, with plans to print trillions more under President Biden. All the prrrrinting and a falling GDP MIGHT be the seeds for the worst situation of an Economic Crisis. HYPERINFLATION.

Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

It is too early to tell but so far I have liked the performance of bitcoin under the current circumstances, when people realized that the pandemic was not going to be contained and it was going to move all around the world and we did not had answers to how dangerous it could be the stock market went down and the same happened to bitcoin, but since then its performance has been incredible and thanks to all the money that is being printed and that it is going to keep being printed then it is safe to say that the price of bitcoin is going to keep going up even without hyperinflation[.

That could be debatable because Bitcoin has always followed a definite pattern in its bull-bear-cycle after each halvings. During hyperinflation, if it comes, it might break the pattern and extend Bitcoin’s surge further and could take it to a longer path to price discovery that might go 7 digits.

[Wind_FURY]

Bond yields are rising in the United States. This is typically a sign that inflation is rising, or will rise as well. Although there are some “analysts” that foresee the bond yields to go back down again. They might be right, but they might also just be calming everyone down.

[Argoo]

Provided this collapse doesn't ensue a war for resources, We can guarantee that bitcoin will take over the currency and will stand victorious against the USD. In all these years bitcoin only appreciated in value, while USD steadily fell down and lost its worth, and as OP have said, with the upcoming printing of inordinate amounts of USD, expect an economic collapse and those who have bitcoins will stand victorious.

Senate democrats in the United States congress pass one of the biggest spending bills in history. 1.9 trillion dollars...USD is not a stable currency anymore. When you have politicians that believe they can print money on a machine for political victories, you have destabilized the currency in a way that will cause extreme inflation.

So there really isn't a test for Bitcoin. The long term goal for any BTC user/investor has always been -- let the largest currencies in the world collapse due to irresponsible spending and let BTC take the throne because of its decentralization. Unfortunately for Americans, this process will be expedited thanks to this spending bill.

Except if more Americans see what's going on and find out the best way out is thru cryptocurrencies like bitcoin, this could only be bad for those who hoard USD. But I digress.

It is still difficult to say whether we will see a global economic crisis and how Bitcoin will behave in this case. However, we already see that with the threat of such a crisis, it has grown in price to an unprecedented size. True, other factors also affect at the same time, including the last halving of the remuneration to miners. However, the threat of large inflation is also of great importance here.
On the other hand, the United States printed about 22 percent of all dollar money in circulation last year. This could accelerate the onset of the global economic crisis.

[Ausgewielt]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

[eaLiTy]

Bond yields are rising in the United States. This is typically a sign that inflation is rising, or will rise as well. Although there are some “analysts” that foresee the bond yields to go back down again. They might be right, but they might also just be calming everyone down.

You cannot trust these analyst and everyone will be having their biased opinions. During the last economic meltdown everyone was laughing at Nouriel Roubini and other who predicted that a global economic crises is inevitable and just two years after that the fucking banks filed for bankruptcy. So if there is someone who predicts these with some believable substance then you need to have your own back up plan as well if everything goes down.

[Wind_FURY]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

That’s not the point. The fiat system is OK for MOST cases, BUT it’s those people, the cabal, behind the fiat system that arbitrarily decides to print one day, and pumps the economy artificially. I believe one day the government/the Fed will lose control of the monetary system. What they’re doing is simply not sustainable.

[electronicash]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

That’s not the point. The fiat system is OK for MOST cases, BUT it’s those people, the cabal, behind the fiat system that arbitrarily decides to print one day, and pumps the economy artificially. I believe one day the government/the Fed will lose control of the monetary system. What they’re doing is simply not sustainable.

the government is printing USD to stimulate the economy and support people. although it helps, it's also unsustainable in the long run.

Bitcoin came out after the 2008 recession which was caused by the real estate crash. if the pandemic has been planned from the beginning then it could mean that there is a conspiracy among the nations but are just blaming China for where the virus came from. that wouldn't sound right.

[kotajikikox]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

That’s not the point. The fiat system is OK for MOST cases, BUT it’s those people, the cabal, behind the fiat system that arbitrarily decides to print one day, and pumps the economy artificially. I believe one day the government/the Fed will lose control of the monetary system. What they’re doing is simply not sustainable.

the government is printing USD to stimulate the economy and support people. although it helps, it's also unsustainable in the long run.

Well I'm sure there is a Back up plan for this , they might printing more paper money now but only for short term usage only until they finalize the main reason and plans.

Bitcoin came out after the 2008 recession which was caused by the real estate crash. if the pandemic has been planned from the beginning then it could mean that there is a conspiracy among the nations but are just blaming China for where the virus came from. that wouldn't sound right.

Nah There where no plans of Pandemic for that long , maybe this was planned recently for what reason ? that's the million dollar question.

Importantly that Bitcoin was created for the worlds benefits and not for whatever reason in negativity .

[Wind_FURY]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

That’s not the point. The fiat system is OK for MOST cases, BUT it’s those people, the cabal, behind the fiat system that arbitrarily decides to print one day, and pumps the economy artificially. I believe one day the government/the Fed will lose control of the monetary system. What they’re doing is simply not sustainable.

the government is printing USD to stimulate the economy and support people. although it helps, it's also unsustainable in the long run.

Well I'm sure there is a Back up plan for this , they might printing more paper money now but only for short term usage only until they finalize the main reason and plans.

I’m sure they have a “back up plan”, it’s called Quantitative Easing, or better known as “QE”. It’s a fancy term for the Fed to print Billions of fiat to buy securities in the open market to increase the money supply, and encourage lending at low interest rates. But what’s OUR back up plan?

[RealMalatesta]

I think fiat is no longer appropriate for us, it is getting worst. Before that money printed I think we should prepare to buy more gold or bitcoin. Gold price is tend to stable it is very safe. Maybe there are some people who still feel doubt or even afraid if they save their money in form of bitcoin, but it will good if we consider bitcoin as solution for the next economic collapse that maybe happen. My personal opinion is bitcoin can be considered as commodity, so if money value decrease and the price of commodities are more expensive then bitcoin price should be more expensive too. I think this is about supply and demand.I really disappointed with fiat money.

That’s not the point. The fiat system is OK for MOST cases, BUT it’s those people, the cabal, behind the fiat system that arbitrarily decides to print one day, and pumps the economy artificially. I believe one day the government/the Fed will lose control of the monetary system. What they’re doing is simply not sustainable.

Will? They have lost the control of it decades ago, 2008 was the proof that corporations are way too big and nobody stopped them and now they are trying to figure out how to make it go down back to reality levels.

In 2008 it was mortgage crisis, what happened? Banks gave out mortgages to people that can't pay it, what was the result? Banks got 800 billion dollars for free while people still lost their homes, so it was a situation where one side lost nothing while the other side lost everything.

This is why I do not believe that we should be focusing on poor people costing money to government, we should put all the problems on the shoulders of rich people, anyone who has networth over 1 billion should be taxed 90%+ for all the gains they make, you would have the most wonderful world without any problems with that kind of huge money you can tax.

[doomloop]

I am starting to believe that Satoshi created Bitcoin for what’s coming next, or might come next. Because of the COVID-19 pandemic, I’m not sure about the rest of the countries, but the United Stated Federal Reserve prrrrinted inordinate amounts of U.S. Dollars to stimulate the economy, with plans to print trillions more under President Biden. All the prrrrinting and a falling GDP MIGHT be the seeds for the worst situation of an Economic Crisis. HYPERINFLATION.

Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

Nothing will happen to Bitcoin, Bitcoin has already proven for years how strong it can be. We have seen it go down  due to one challenge or the other and after it will climb. The pandemic that happened in 2020 posed a big threat to Bitcoin and a lot of people already felt it was over until it started to do what it does best at times like that, which is survival.

So, I don’t think there is another situation that will take place and Bitcoin will be affected, no it’s going to keep on increasing in value, there are times that there will be some slight decrease for sure, but those ones are not for long.

[wheelz1200]

I am starting to believe that Satoshi created Bitcoin for what’s coming next, or might come next. Because of the COVID-19 pandemic, I’m not sure about the rest of the countries, but the United Stated Federal Reserve prrrrinted inordinate amounts of U.S. Dollars to stimulate the economy, with plans to print trillions more under President Biden. All the prrrrinting and a falling GDP MIGHT be the seeds for the worst situation of an Economic Crisis. HYPERINFLATION.

Bitcoin has been criticized as a medium “for speculation”. Big test. Is it just merely “for speculation”, or an actual “safe haven”? Will Bitcoin crash together with the rest of the economy, or will everyone run to it as a Store of Value?

Thats the million dollar question.  I think we are headed towards a huge long recession in the US and I think all financial instruments will suffer.  Less fresh money in the field will slow the gas throwing on this fire we got going right now.  These covid benefits everyone is getting is proving up the economy right now wont be lime that after this year.  Hope I'm wrong though