Quote from: Bobby park on January 07, 2018, 03:34:45 AM

Quote from: squatz1 on January 07, 2018, 02:56:00 AM

I don't think I can agree with this at all, you have to think that in its current state a ton of people in Bitcoin is being used by people as an investment with the money that they can afford to put into it. If the global economy and financial institutions were to have a crisis people would pull this money immediately, as they need it for their real lives.

People would pull out the price would crash and then most likely come back up, but who knows.

Yes! Probably when there is financial crisis, people are withdrawing their any investment just to survive in the crisis and to live even there is economic problems.
We cannot rely 100% in bitcoin during crisis times. When all people pull out their investment. Bitcoin price will fall and that will be the cause of crisis.

I'm not saying it's going to be the cause of the crisis, but I think that the mindset of a lot of people here is that the bitcoin price is countercyclical to the overall global economy -- though this couldn't be any farther than the truth. As Bitcoin has never experienced anything in relation to a global crisis, it only gained real popularity in 2011 (way after the 2008 banking crisis)

So Bitcoin will take a beating after a crisis, I know that much.