Will World Economic Depression Affect Bitcoin?

[jeraldskie11]

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

Of course, it will have a significant impact on the value of Bitcoin and other cryptocurrencies. Even a local economic crisis might have an impact on stocks and cryptocurrency. How much more if the economic depression which is a global crisis. I understand how difficult it is to live in such a circumstances, yet traders and investors profit from it. This is the perfect time to invest large sums of money because when our situation returns to normal, the value of the stock will return to healthy price movement. You can check the chart of a stock or Bitcoin before and after a crisis to see whether the price does not increase.

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[Marvell1]

You're hungry and there's no one sell any foods, someone offer you either a lunch meal or a Bitcoin, which one you choose? that's what happen.

When the world suffer of economic depression, Bitcoin will become worthless because people will try to save any daily needs as much as they can. Being rich aren't their dream anymore, they dream are only to survive.

However I'm not really sure what's the affect you refer, if you mean economic depression will make Bitcoin become centralized, it's completely wrong.

When world Economic Depression starts, it will affect not only the finance but also all the areas. The main function of human survival is to meet his food needs. When people are self-sufficient  in food, they give priority to other thoughts. What will happen with money if there is no food? We know that Bitcoin is a boon to the economy. But I think Bitcoin has no need to be centralized. It is better as decentralized.

But we can say that even when the global economy is on the verge of collapsing due to various reasons, Bitcoin continues to go through an upward trend. As we saw in case of Covid-19.

During covid 19, there were mass deaths due to the disease, no one starved because the government pumped money to save people. But for the post-pandemic situation, in 2022 and 2023, crisis and inflation happened, people started to have financial difficulties, and bitcoin also plummeted because it was badly affected. Do you have any explanation for this? How can bitcoin rise if we live in a severe recession? Bitcoin is still a volatile and uncertain asset like gold, so people won't be looking for it if there is a Great Recession.

[Ayers]

Their excessive delusion and the spread of such thoughts may also be part of the reason governments hate bitcoin so much. I really don't understand why people are always spreading these things against the government when we all know that there is no way to go against the government. We are always losers whether we are right or wrong, the government is the judge of this world

Just because you kneel in front of the government doesn’t mean all the rest of us should as well. If you believe governments care so much about you, why is gambling still allowed? I think it’s so much more damaging than Bitcoin. Why instead of practising safety they’re trying to destroy the crypto industry as we speak?

Although a stupid example, it’s the only one that comes up in my mind: Area 51. Remember the day there was a Facebook group for overturning Area 51 and so many people checked in the US Army had to warn they’ll have to use force to protect the area? It’s kinda like that with Bitcoin too. The government isn’t scared about my delusion. It’s scared about what they weren’t expecting Bitcoin could do.

How do you believe there’s no way to go against the government though? History shows you there’s always a way, but you seem to be living in enough fear to think they’ll always win. They aren’t invincible, you’re very very likely more innocent than they are (don’t pretend politics don’t involve corruption, stealing and all types of illegal things) and it’s not the first time a system or government is overturned.

Yes, I don't want to protest against the government because it's not beneficial for me and my loved ones. I do not deny that the government is not perfect in bringing benefits to the people, there are many shortcomings, and I myself have many frustrations. But we do nothing useful for the country, and is it too much to insist that the government be perfect in everything?

I don't see them destroying the crypto industry, what they're doing is finding ways to regulate and control us. That makes us lose our freedom, and many people don't like it, including me. But if you were the government, when you were threatened by someone, would you try to destroy them? That's why I always wanted bitcoin to be an alternative, not a replacement.

[SyndicateLabs]

(...)Because economy is the back bone of everything in the world...

I do not agree with this view in life, so far I know the importance of the economy in life, but to say it is the core value in our life is absolutely not. Try searching and listening to the sharing of spiritual masters to see how they view this operating economy, their simple but complicated view in the process surprised me even more because it took me so long. Nowadays we just try to follow everything and let the problems in life take control, a pretty good saying I've heard about us being slaves to emotions ranging from happiness to suffering. Matter or things related to the micro to the macro level also have its own operation, disorder or influence has a reason and also has a way to solve it, historical stories have passed. through it is not a warning for people to be afraid but to try to live better to overcome those difficulties.

[minairia3]

(...)Because economy is the back bone of everything in the world...

I do not agree with this view in life, so far I know the importance of the economy in life, but to say it is the core value in our life is absolutely not. Try searching and listening to the sharing of spiritual masters to see how they view this operating economy, their simple but complicated view in the process surprised me even more because it took me so long. Nowadays we just try to follow everything and let the problems in life take control, a pretty good saying I've heard about us being slaves to emotions ranging from happiness to suffering. Matter or things related to the micro to the macro level also have its own operation, disorder or influence has a reason and also has a way to solve it, historical stories have passed. through it is not a warning for people to be afraid but to try to live better to overcome those difficulties.

In short, if you disagree with the view that economics is not the backbone of everything in this world. What will be the backbone of your life? I want to ask if you have no money in this day and age, how would you survive? Our lives have a lot of things that are necessary, not just money, but if you don't have a stable economy, you have nothing in your hand, even your family, wife, children, and friends will not need you.

[kryptqnick]

While the period of economic depression was harsh on Western economies, I think the op is overstating it. I mean, phrases like 'life became survival of the fittest' are just too broad. Of course, there were people suffering, and there were people doing well. There were people fending for themselves but also people doing their best to help those who were left behind. Churches, charities, as well as women's organizations often focused on helping those who were worst off economically, so it wasn't just survival of the fittest.
In any case, I hope that the world economy is simply stronger now and won't suffer a similar period again (considering that it's been almost 100 years since that happened), but if that does happen, I think Bitcoin will initially go down along with everything else but will recover faster than the global economy because it's not particularly dependent on it.

[SyndicateLabs]

~.

In short, if you disagree with the view that economics is not the backbone of everything in this world. What will be the backbone of your life? I want to ask if you have no money in this day and age, how would you survive? Our lives have a lot of things that are necessary, not just money, but if you don't have a stable economy, you have nothing in your hand, even your family, wife, children, and friends will not need you.

I think it is Morality

Since you're assuming something that isn't true, I won't be able to give you an answer as to how that would work out, but I'll mention that I still have money, though not too much, and not too poor to pay for it treat them as something to put first. Remember that the fact that you work and you get paid is fair, so what kind of work does it have, I think you will figure it out for yourself when a farmer does what they do to support them, raise their own livestock to provide food and share it with everyone you can imagine. I do not deny the importance of money in today's life, but it is clear here that we have made a difference between perceiving money as a tool people and people as a tool for money.

[goldkingcoiner]

You're hungry and there's no one sell any foods, someone offer you either a lunch meal or a Bitcoin, which one you choose? that's what happen.

When the world suffer of economic depression, Bitcoin will become worthless because people will try to save any daily needs as much as they can. Being rich aren't their dream anymore, they dream are only to survive.

However I'm not really sure what's the affect you refer, if you mean economic depression will make Bitcoin become centralized, it's completely wrong.

Well you are taking scenarios to the extreme. We usually do not assume that we would be in an apocalyptic mad max future. Most people do not build nuclear bunkers and most people do not believe that we should be taking survival paranoia to such extremes.

Of course, the economic depression is going to affect Bitcoin, but we are only talking about supply and demand. Of course prices will fluctuate and Bitcoin itself has a supply and demand. The supply being finite does not automatically mean that there will always be a demand. But in the foreseeable future, Bitcoin is going to take over as the global money and replace the old generation of money, so it is the demand of fiat, which you should be worried about.

I am not going to keep more fiat than I have to. Bitcoin Funds > Fiat Funds

[uneng]

(...)Because economy is the back bone of everything in the world...

I do not agree with this view in life, so far I know the importance of the economy in life, but to say it is the core value in our life is absolutely not. Try searching and listening to the sharing of spiritual masters to see how they view this operating economy, their simple but complicated view in the process surprised me even more because it took me so long. Nowadays we just try to follow everything and let the problems in life take control, a pretty good saying I've heard about us being slaves to emotions ranging from happiness to suffering. Matter or things related to the micro to the macro level also have its own operation, disorder or influence has a reason and also has a way to solve it, historical stories have passed. through it is not a warning for people to be afraid but to try to live better to overcome those difficulties.

In short, if you disagree with the view that economics is not the backbone of everything in this world. What will be the backbone of your life? I want to ask if you have no money in this day and age, how would you survive? Our lives have a lot of things that are necessary, not just money, but if you don't have a stable economy, you have nothing in your hand, even your family, wife, children, and friends will not need you.

In the currently momentum we are living that is true. But imagine a chaotic time, where you had money, but money was priceless because there wouldn't be anything to buy. You could go to the supermarket with your pockets replenished of money, but without any goods and products on the shelves for sale. You could even boast your fortune to the masses, but they would have zero interest on it, because they would be totally focused on finding a glass of drinkable water and a piece of bread. So, economy isn't everything, survival is. And sometimes, in extreme situations, survival goes beyond economical matters.

On the other hand, from a more noble and pure perspective, the backbone of everything in this world should be the love, respect and caring we have for God, ourselves and others. Anyway, that stays solely on theory. The reality is dirty and disgusting.

[summonerrk]

There was a Great Economic Depression in the world and it started from 1929 and ended in 1939 which stayed about 10 years and that was the longest one ever. In that great economic depression the world ecoonomy was dis-stabilized in all areas of life and livelyhood. Banks were closed down for the long period of years, farms were destroyed, industries closed down. Live was unbearable. People died and human suffer to the core. And everythings  in life were affected no school and life became survival of the fittest.
Now this technology age and must transactions are done online without going to the bank. Sometimes we buy things without going to the supermarket or to the market square you just order from online and you received your goods at your door post without stress.
The present day ecoonomy is much more better comparing to that of 20s down. Things are make easy to use. Physical bank stress is also fading gradually to the hand of technology calls digital currency.
And bitcoin is the Father and the King of this digitalization.
So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

I would not so boldly claim that the current economy is better than the one that was earlier in the thirties of the last century. Firstly, many currencies nowadays are not provided with so-called gold reserves. Whereas earlier it restrained their uncontrolled emission. Secondly, the last economic crisis was caused by the fact that a lot of intermediary financial instruments appeared in the banking system, as well as the mortgage system, which clog up the economy. For example, loans were given to people who would never be able to repay them. Therefore, I think that the economy is still far from perfect.

[imamusma]

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

I think without asking you can already guess what the answer is, and yes, of course, when the global economy is bad, it will obviously have an impact on all investment assets, even if it's bitcoin. It's hard to say no, maybe it's very unreasonable to say that world economic conditions don't have an impact on digital investment assets or physical investment, obviously it will.

Imagine when the world was hit by Covid, what the economic situation would be like, and how it would affect bitcoin. But still, bitcoin is a volatile asset and can go against economic trends at any time.

[Blitzboy]

~.

In short, if you disagree with the view that economics is not the backbone of everything in this world. What will be the backbone of your life? I want to ask if you have no money in this day and age, how would you survive? Our lives have a lot of things that are necessary, not just money, but if you don't have a stable economy, you have nothing in your hand, even your family, wife, children, and friends will not need you.

I think it is Morality

Since you're assuming something that isn't true, I won't be able to give you an answer as to how that would work out, but I'll mention that I still have money, though not too much, and not too poor to pay for it treat them as something to put first. Remember that the fact that you work and you get paid is fair, so what kind of work does it have, I think you will figure it out for yourself when a farmer does what they do to support them, raise their own livestock to provide food and share it with everyone you can imagine. I do not deny the importance of money in today's life, but it is clear here that we have made a difference between perceiving money as a tool people and people as a tool for money.

Cash, its just a tool, right? And arent humans beyond mere cogs in this vast financial apparatus? A thought-provoking notion indeed. Bitcoin, like any cash variant, is an instrument. But it's a revolutionary one - decentralized, trust-free, and a potential democratizer of finance. Doesnt that impart a "moral" edge to it?

The Bitcoin miners or blockchain innovators - arent they performing purposeful tasks, not merely chasing the greenback or, in this context, the Satoshi? Isnt this a stride towards prioritizing people over mere financial exploits?

As we integrate these technologies into our monetary system, perhaps we're not just trading tools. Maybe we're remodeling the entire workshop.

[pooya87]

The global economical situation will definitely affect bitcoin but the degree and type of effect depends on a lot of things. We can't say it is all negative or all positive. And lets not forget that economy is not exactly "global" while bitcoin is. Even during the economic crisis like the one in 2008, there were countries that were either unaffected or were setting positive growth. Even during the 2022 onward economic crisis the world is split into parts, the Western countries specifically Europe have started seeing increased inflation and decreased economic growth whereas the Eastern bloc started seeing less inflation and higher economic growth.

[MusaMohamed]

The global economical situation will definitely affect bitcoin but the degree and type of effect depends on a lot of things.

Such economical situation is at global scale which will affect all countries and all industries in societies. It is very unrealistic to say blockchain industry and Bitcoin market, cryptocurrency market will not be impacted by such global economical situation like recession.

We can't say it is all negative or all positive. And lets not forget that economy is not exactly "global" while bitcoin is.

We have to see impacts in short term and long term. In short term, nothing will be not affected by a global economical recession. In long term, strong countries, good industries will survive, recover strongly and even can find milestones in their growths. I believe that Bitcoin will show its attraction in investors when such global economical situation comes but honestly I don't want to live in such time.

I want to live in a period with things like normal because such toughest times will affect many people including me too and I don't want to see many difficulties knock doors of many people. I wish a prosperous life for everyone.

Two recessions, Two recoveries (Compare the two longest episodes in U.S. history with our interactive tool) Pew Research.

[doomloop]

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

Of course, it will have a significant impact on the value of Bitcoin and other cryptocurrencies. Even a local economic crisis might have an impact on stocks and cryptocurrency. How much more if the economic depression which is a global crisis. I understand how difficult it is to live in such a circumstances, yet traders and investors profit from it. This is the perfect time to invest large sums of money because when our situation returns to normal, the value of the stock will return to healthy price movement. You can check the chart of a stock or Bitcoin before and after a crisis to see whether the price does not increase.

Stocks are different than cryptocurrencies, stocks are from physical companies that exist in the world and are affected by an economic crisis because their sales and stuff get disturbed because there is inflation and people don't have a lot of money to spend, thus those companies face losses and that causes their stocks to go down, but for Bitcoin or cryptocurrencies, it's a different story because they are not physical entities but they exist digitally.

When there is an economic crisis or there is extreme inflation, people tend to look for ways to invest their money so that they are safe from high inflation and devaluation, and a lot of people will choose Bitcoin and cryptocurrencies as an escape which might impact them positively in such a situation.

[blockman]

When there is an economic crisis or there is extreme inflation, people tend to look for ways to invest their money so that they are safe from high inflation and devaluation, and a lot of people will choose Bitcoin and cryptocurrencies as an escape which might impact them positively in such a situation.

That's true but what happens is still we don't know if a greater economic depression comes. I'm not an economist but they say that almost everything is gonna be affected. But we've seen how bitcoin performs despite that for the past few years. There could still be some assets that will be chosen by noncoiners but to us, this is the best choice whether there is or there is no depression at all. It's like satoshi has set it all for us as bitcoin was invented during also the economic depression several years ago. While we do understand how bitcoin moves as an asset and it's not tied to global markets as we believe. Nowadays, we do see its significance together with the other markets that people are also trading in.

[Ale88]

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

It all depends on what you mean by "affecting bitcoin": will it affect its value? Probably yes. Will it affect the way it works? Absolutely not. Bitcoin will keep going despite the value in dollars, euro, or whatever other fiat value. Many people make confusion and think that bitcoin's value somehow affects the way it works, but it doesn't. So if I were you I wouldn't worry about this possibility.

[irhact]

But we can say that even when the global economy is on the verge of collapsing due to various reasons, Bitcoin continues to go through an upward trend. As we saw in case of Covid-19.

During the pandemic Bitcoin price first did collapse as many investors while panicking and selling their bitcoin because they felt the whole world is going into an economy meltdown which did happened but not as everyone was expecting it to happen due to the expert opinion we have been hearing of how the economy will collapse. Covid19 was an example of what will happen when the world will go into an economy depression, but Bitcoin will survive.

Bitcoin will survive because it'll rise in value after the whole depression is over, Bitcoin price is been affected by everything around us, that's why it also has to be affected if the whole economy is under attack, Bitcoin profits from the money gotten from our business and when business isn't good, we won't have money to invest in Bitcoin.

[Onyeeze]

Of course it will. People will sell their Bitcoin if they'll not have what to eat, and most likely will stop buying it. Whales will be fine and will buy all cheap Bitcoin, but I don't think it will fully save Bitcoin.

You can't have a bitcoin and die in hunger because bitcoin because bitcoin is money and money is bitcoin so whatever we want to buy and we don't have bitcoin you can trade your bitcoin with any exchange so that you can afford your needs, what op ask of world depression affecting bitcoin, its real that world depression can affect bitcoin because no one will like to buy bitcoin again because they have run out of cash for surviving, we have many coins to buy that is more lesser than bitcoin, I want to correct you saying you will buy a cheap bitcoin a bitcoin is one and it does not have a cheap one except you are saying that you will buy a small ration or values of bitcoin with small amount, its altcoins you will buy cheap base on how influential is the project

[Mate2237]

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

This topic is kinda vast and complex to explain to you though but the internet are free of information if you want to know everything. On the other hand, if you want to know if Bitcoin could be affected by the great depression then IMO it depends if there's a crisis all over the world but if it's just a selected areas of the country then Bitcoin will still be fine. Although during bearish times it's not actually reliable if you just want to hodl your asset but if you use it as a means of payment/currency it does help since it was not bound to anyone that would affect their prices. The only worst part I see is if during the bear trend and great depression occur at the same time in your own country. I don't know if Venezuela is the best example to your question but IMO in kinda does.

That is how it will be. If the depression is all over then Bitcoin will be affected but if it's only a section in the world them they part is free can still use the p2p but it will still affect the free part, because the buying and selling power might reduce so the price of Bitcoin might also come down to the minimum. Also the price might go up to the highest peak because the area the depression would affect would come to the free area for survival so as that thing will increase dramatically. So the two side of the coin might be found in the depression.