What good is bitcoin during the impending economic meltdown?

[Xiaoxiao]

It is kind of like drowning during the gold rush, you have to let go of some gold or else you'd have to go under with it.  Maybe this is the wrong forum to discuss.

If we take a look at the human population graph, it just absolute exploded.  The cause?  Fossil fuel, which is being depleted ultra fast, and other sources of energy is far far behind.  What goes up, must come down.



If fiat is doomed, so is bitcoin, and everything else that has become bubblicious.  Thoughts?

[counter]

I don't agree with that viewpoint.  For one thing the meltdown is not happening as fast some might think.  Bitcion can be very useful for quite some time especially if bitcoin reaches mass adoption to the point that society seriously adapts to the technology and value it offers.

Not really going to get into the topic of fossil fuels and alternative energy at the moment because I am not a so sure I could properly asses those markets and believe there to be large amounts of manipulation to be taken in to consideration.

[Gingermod]

It is kind of like drowning during the gold rush, you have to let go of some gold or else you'd have to go under with it.  Maybe this is the wrong forum to discuss.

If we take a look at the human population graph, it just absolute exploded.  The cause?  Fossil fuel, which is being depleted ultra fast, and other sources of energy is far far behind.  What goes up, must come down.



If fiat is doomed, so is bitcoin, and everything else that has become bubblicious.  Thoughts?

Other sources of energy are only 20 years away. Stop worrying.

[spiderbrain]

Centralised collaboration via debt-based capitalism is indeed on the way out as a result of the impossibility of never ending growth on a finite planet. Cryptocurrencies, on the other hand, aren't debt based and aren't (as) centralised, and so are well placed to help keep some stability during the collapse of the current system.

[keithers]

For one, it can theoretically be used in any country in the entire world without ever having to convert to the local currency. That in itself makes it a good tool in the face of an economic meltdown

[hello_good_sir]

It took the Roman Empire hundreds of years to collapse.  Right now we are in the midst of a collapse that started in the 1960s, but we won't be even halfway through the collapse before we die.  So yeah, things will keep declining but the lights are going to go out suddenly.  Instead there will be power for only so many hours per day, which is how it works in Iraq and other such places.

[Bernard Lerring]

I wonder if criminal activity will be a contributing factor to devastation of life as we know it before fuels become an issue.

If bitcoin (or other crypto) becomes a world leading currency there will be a huge possibility for business between amoral beings. Should we be worried that police services will become powerless over criminals?

[gentlemand]

It's not a fashionable view, but I think we'll muddle through somehow.

[r0ach]

I wonder if criminal activity will be a contributing factor to devastation of life as we know it before fuels become an issue.

If bitcoin (or other crypto) becomes a world leading currency there will be a huge possibility for business between amoral beings. Should we be worried that police services will become powerless over criminals?

Anonymous cryptocurrency will lead to the collapse of the state.  Bitcoin isn't anonymous though.

[Tzupy]

OMG, I just realized the world population is a BUBBLE! Soon, because of FUD (from China?) it's going to experience a corrective wave A!  

[chesthing]

It took the Roman Empire hundreds of years to collapse.  Right now we are in the midst of a collapse that started in the 1960s, but we won't be even halfway through the collapse before we die.  So yeah, things will keep declining but the lights are going to go out suddenly.  Instead there will be power for only so many hours per day, which is how it works in Iraq and other such places.

  you're going to compare the Roman empire, which you can't even discern on the the op's pop chart, to the population explosion of the 20th century caused by the discovery and usage of oil (good job op, a lot of people don't get this).
We certainly could hit a brick wall - huge unprecedented pop spike over a few dozen years could certainly end in a crash over a few years or even months. Don't doubt it for a second.

[Xiaoxiao]

For one, it can theoretically be used in any country in the entire world without ever having to convert to the local currency. That in itself makes it a good tool in the face of an economic meltdown

Lol, during a collapse, which I believe will be much worse than any depression... who would give a crap about cryptocurrency when food/shelter are of the concern.

it will be stuff like gold/precious metals , seeds (not that engineered crap) , and tools that will be most valuable imo.  Just take a look at California and Detroit. 

[Xiaoxiao]

Nuclear fusion energy should be available within 20 years. In the meantime if we run out of oil, we have massive reserve of coals.

But we don't really know that!

[piramida]

What is much more important, as with any exponential growth, is the log scale graph - the speed of growth. That has been staling since 1960s. Of course, normal value graph would look crazy, as will any exponential trend one (hint bitcoin). About 10 bil people are easily sustainable off our current technology, so we have until 2100 at least, to stop fighting and come up with energy/food crysis solutions, or plan b - kill most of the population with some scientific experiment, virii, hunger due to natural disasters, or, most probable, nuclear war.

[Hyena]

The population is not in a bubble but rather in the vertical rise stage of the S-curve. The rise will gradually slow down at some point. Of course, doomsday is also a possibility.

[piramida]

The population is not in a bubble but rather in the vertical rise stage of the S-curve. The rise will gradually slow down at some point. Of course, doomsday is also a possibility.

it already is slowing down; around 1% and dropping; given no catastrophic events will steady out around 10 billion people in 80 years.

[painlord2k]

It is kind of like drowning during the gold rush, you have to let go of some gold or else you'd have to go under with it.  Maybe this is the wrong forum to discuss.

If we take a look at the human population graph, it just absolute exploded.  The cause?  Fossil fuel, which is being depleted ultra fast, and other sources of energy is far far behind.  What goes up, must come down.



If fiat is doomed, so is bitcoin, and everything else that has become bubblicious.  Thoughts?

Fossil fuel is not depleting fast, because increasing prices will drive down use in favor of alternative sources of power.
Other energy sources are far behind because, with fiat money, taxes and regulations, governments have reduced investments in alternative sources of power.
But, if you look East, China and Russia have not slowed down the building of nuclear power plants (six will be completed just in China before the end of this year).
Other energy sources are far behind, in the western world, because we went from 3 years to build a nuclear power to 10-15-20 years with associated costs making nuclear power uneconomical. But, if the lights start to go off, people will stop worrying about radiations (like the Muslims men fret about djinni looking their ass when they go to dump).
A week with your family without food, in the cold of winter, make all fear of radiations go away.

[ezimedia]

what if the earth gets a major solar flare or if something more major happens.. and computers get zapped.. I think the people holding gold will be sitting pretty... or the people hoarding the water and food.. lol..

everyone putting so much trust in to computers.. phones and the Internet... and once the usa $dollar craps itself... will we all live off our bitcoin...

just something to think about.

[Xiaoxiao]

what if the earth gets a major solar flare or if something more major happens.. and computers get zapped.. I think the people holding gold will be sitting pretty... or the people hoarding the water and food.. lol..

everyone putting so much trust in to computers.. phones and the Internet... and once the usa $dollar craps itself... will we all live off our bitcoin...

just something to think about.

In case of any kind of disaster or crisis (catastrophic)... it comes down to gold, seeds (organic not that engineered crap), and tools.  USD will be worth it's value in paper/wood.

[passo]

Well, Fukushima plant could blow up any time now.  That would make that  chart even itself out quite quickly :S