Quote from: beonline on August 04, 2019, 08:03:35 PM

Quote from: deisik on August 03, 2019, 07:57:48 PM

Quote from: beonline on August 03, 2019, 06:59:03 PM

That's a good topic you raised there. Trump wanted to reduce the interest rates and as I know Fed did it a couple of days ago. But if you think about it, BTC was made especially for times like crisis. How will it meet the crisis, no one knows. It was created after the crisis of 2008. But will people really store their money in Bitcoin if the economy will fall? I doubt they will. Probably it will be USD, CHF, and JPY as always

It is unlikely Bitcoin is going to prosper in an all-out economic crisis or even meltdown

It is an effective hedge against minor currency devaluations in not so important countries (think Venezuela here), but if the major economies like those of the US, EU and China are going to suffer in a major way (and probably crash one after another in a domino-like sequence), all speculative assets will invariably hit the canvas. In such tumultuous times investors always move their capital to less risky assets (and Bitcoin is not one of them)

I don't think those economies will collapse. There will be some recession but not a collapse. Safe haven currency and treasuries will be the best things to store your money in, I believe

I don't particularly believe in that myself

But did anyone believe in the WWI on the eve of it? No one actually did or wanted that war (well, mostly) but it still happened. I mean things may escalate quickly and get out of control pretty fast. But even if major economies just go deep into recession in a semi-controllable way, the rest of the world will be writhing in pain and agony, as always. How and to what degree Bitcoin will be affected is largely unknown as we haven't yet been there. We have yet to find out how things are going to play out with cryptocurrencies if a new 2008 is to come