Quote from: Oceat on June 20, 2023, 11:45:51 PM

Quote from: uche6215 on June 20, 2023, 05:32:50 AM

So if ECONOMIC DEPRESSION happened again in the world, will it affect bitcoin with it fellow digital currencies? Because economy is the back bone of everything in the world. What affect economy affect all other things. And bitcoin is the father of digital currency.
What is your say.

This topic is kinda vast and complex to explain to you though but the internet are free of information if you want to know everything. On the other hand, if you want to know if Bitcoin could be affected by the great depression then IMO it depends if there's a crisis all over the world but if it's just a selected areas of the country then Bitcoin will still be fine. Although during bearish times it's not actually reliable if you just want to hodl your asset but if you use it as a means of payment/currency it does help since it was not bound to anyone that would affect their prices. The only worst part I see is if during the bear trend and great depression occur at the same time in your own country. I don't know if Venezuela is the best example to your question but IMO in kinda does.

That is how it will be. If the depression is all over then Bitcoin will be affected but if it's only a section in the world them they part is free can still use the p2p but it will still affect the free part, because the buying and selling power might reduce so the price of Bitcoin might also come down to the minimum. Also the price might go up to the highest peak because the area the depression would affect would come to the free area for survival so as that thing will increase dramatically. So the two side of the coin might be found in the depression.