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Author Topic: What would happen if BTC was the main economic currency and yet..  (Read 840 times)
TaunSew
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October 01, 2014, 09:40:34 AM
 #1

It lost 2/3rd of its' value within a year like what happened in 2014?  Imagine if everybody lost 2/3rd of their purchasing power?  What would the economic results of this be?

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October 01, 2014, 10:17:15 AM
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It lost 2/3rd of its' value within a year like what happened in 2014?  Imagine if everybody lost 2/3rd of their purchasing power?  What would the economic results of this be?

If BTC was the main economic currency, it would not be volatile. A whale with $10 million might be able to move the price by a penny.

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October 01, 2014, 10:30:31 AM
 #3

The Fed would do anything so this shouldn't happen.
And if it already happened, they would try to stabilize it.
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October 01, 2014, 10:39:20 AM
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I think, this world will be a virtual world.
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October 01, 2014, 12:13:44 PM
 #5

It lost 2/3rd of its' value within a year like what happened in 2014?  Imagine if everybody lost 2/3rd of their purchasing power?  What would the economic results of this be?

If BTC was the main economic currency, it would not be volatile. A whale with $10 million might be able to move the price by a penny.
This.

This is like saying what if USD lost 2/3rd of it's value within a year, something this big doesn't move that fast.

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October 01, 2014, 12:27:40 PM
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It lost 2/3rd of its' value within a year like what happened in 2014?  Imagine if everybody lost 2/3rd of their purchasing power?  What would the economic results of this be?

If BTC was the main economic currency, it would not be volatile.
Exactly. I like Andreas's analogy when he called Bitcoin a zodiac that bobs up and down with the waves. A zodiac sitting next to the Titanic that is fiat, which has just struck an iceberg.

https://www.youtube.com/watch?v=dr4y9vBApz0

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October 01, 2014, 12:36:39 PM
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The world economy would collapse as the transaction speed and volume potential (ie number per block) are not yet big enough to support the global economy.
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