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.