Post
Topic
Board Economics
Re: New recession is around the corner
by
d1ceplayer
on 04/05/2019, 13:27:14 UTC

So we can hope that in that year, bitcoin will be adopted by many people especially in the USA because of the recession.
That will be interesting if bitcoin finally being adopted by a big country and have power.
But that will be a waiting time for us if that will happen or not because we are still in 2019 and we need to wait a year before it's happening.
The chances for bitcoin to be accepted in many countries will wide open if people in the USA can accept bitcoin, so the other big country will follow what the USA does.

Recession makes it LESS likely that bitcoin is adopted. People need money to buy bitcoin - and in recessions money is scarce. Also inflation drops in recessions which means that hedges against inflation arn't required so much.

Bitcoin will only take off if there is asset confiscation. Say AOC or someone like her gets to power in 2020 and starts confiscating wealth. Bitcoin then becomes very attractive as a means of storing and hiding wealth.  Don't forget that the event that made bitcoin mainstream in 2013 was Cyprus confiscating savings balances of ordinary people deposited in banks to bail out the bankers.
With or without recession, many people will still invest in bitcoin largely because of its highly effective and self-advertising system, I am not sure there will even be any recession anytime soon and even if there is any, I am sure that before that time, everyone would have had investment in bitcoin and may not really feel the effect of the recession due to enough fund that will be generated in the long run and saved through investment that has been done in bitcoin. See how bitcoin has been performing lately, it shows that Bitcoin is fully independent of any system or organization.