Quote from: nichu on December 19, 2015, 11:18:24 AM

Quote from: n2004al on December 19, 2015, 09:17:43 AM

Quote from: Sir_lagsalot on December 19, 2015, 03:13:42 AM

As the title says, what would be the effects on bitcoin if the US economy crashed?

Would there be a sharp rise, as lots of people would want to move their money out of the dollar and into something else, or would the price drop, as a large fraction of the bitcoin community is American?

If us dollar crashes (totally impossible according to me) then the first thing that Federal Reserve will (must) do is to create another national legal currency, a new one which will have all the needed corrections which make the us dollar crashes. This is for sure. Then what could happen with bitcoin is (as it is always with bitcoin) a big question market. Because will be measured with the new USA national currency. Supposed better than the us dollar. So from one hand will have the people disappointed from the national currency (the ex one) and this factor can bring most of them versus bitcoin. Move that will increase its price. On the other hand will have a much better new currency associated with all the possible propaganda of the State of Usa. This can slow the flux of the people who will want bitcoin. The result. Everyone make its choice.

i dont get it, how can they simple create another currency just like that. and what made you think that its impossible for the dollar to crash, first off US dollar is highly overvalued and the bubble might burst ..lets see.

Sorry for the late answer (very late to tell the truth). But I visit rarely the thread when I post even I am noticed that are new posts. Making my post think to not have more to tell. But forget that must be comments to my thoughts which want answer. So sorry again and here my answer.

Why don't get you? The create of the other currency? Is the most easy thing to do. All the national legal money within a country are centralized ones and owned by the state itself. So the state can do what want with its money: devaluate it, over valuate it, create another new which can be used like the old one or eliminate at all the old one and use only the new one. Accept as legal money other currencies of other countries, regulate or classify in various ways and grades those. Like was did with bitcoin in various countries of the world. There are not two countries which treat it in the same way. Every country treat find convenient for its economic situation primarily but even other factors. All those are realized through an Authority created especially with aim. To manage and take care for the national money. Named normally Central Bank. But even otherwise. At USA for example is named Federal Reserve. And its power is such that can change everything has to do with this money. Even to substitute it if necessary.

As for my conviction of the impossibility of the crash of us dollar this is a conviction that come from the strong and very well structured economy of USA. This economy which lead all the world has immense potential and first of all is leader in the new high technologies which brings amounts without end of money. Has those big new technologies which change all the world in every direction. And USA is the undisputed leader in such field. This make that all that debt that make fear to you or even to many other posters here in bitcointalk be "eliminated" in value by the above mentioned or the new ones which came in life every day more. The Government of USA is one the most open mind Governments in the world. Not by chance all most developed country of the world follow the USA in every new step they do forward. Such economy cannot leave never that its money have such kind of problems mentioned by you. Are one thing the theoretical figures and a totally other thing the reality. It is the second who rule. And the second in USA is extremely strong. Even if can prove crisis from time to time.

I can tell even more but I think that this can be enough for the moment. The other words will be only new examples which will reinforce the abiove and the esence is given above.