Quote from: stompix on May 24, 2023, 03:06:30 AM

Quote from: avikz on May 23, 2023, 05:37:07 PM

But for discussion if I consider that will default on their debt, it will be an excellent thing for crypto market. Billions of dollars will be infused into the crypto market from various institutional investors to park their additional funds. Similarly Gold and other precious metals will also see a huge demand.

Oh yeah, just how
- war will be good for Bitcoin thousands will try to hide their wealth in Bitcoin
- inflation will be good for bitcoin, billions will try to protect their wealth with Bitcoin
That worked out perfectly, let's continue:
- unemployment will be great for Bitcoin, unemployed people will put their empty wallets in Bitcoin
- bankrupcies will be good for BTC, companies that don't produce a thing will put their income in BTCBTC
- Ebola will be great for Bitcoin, everyone that is not dead will put his money into Bitcoin

This reminds me of the stories about Cyprus, the banks closed and everyone was cheering how people were buying coins, must have been a miracle to have your funds locked in a bank but use them to buy BTC. If the US would somehow default for 99% of this planet BTC will be the last thing to think about.

99% of people who post that kind of shit just do it to look like a pro-crypto and don't actually think what they write, it's just a copy/paste of meaningless combination of some words. If the US goes bankrupt, bitcoin is the least thing people will think about.
The whole world economy depends on US dollar and on fiat, overall. If the US defaults, the whole world will be in chaos because the world will have to function without a currency for a while, people who hold USD in their pocket, will discover that they have only papers. That will be a terrible experience, it will be a terrible global experience.
I can't imagine how people think that bitcoin will save them in those hard times, will they be able to buy things in shop? Will they be able to make trades between countries via it? The vast majority doesn't know a thing about bitcoin and even more doesn't know how to properly store it.