Quote from: Woodie on Today at 09:28:55 AM

Quote from: dercfor on Today at 08:28:07 AM

If we have economic depression, it will affect not only bitcoin but even other assets like gold. People will look for survival necessities like food and shelter and not spend on luxury.

But bitcoin is not a luxury if that's the impression it has, it can actually be used as any other currency out there and it being decentralized could be a good thing against such phenomenon as economic depression.

Bitcoin was originally designed to withstand inflation and recession, but so far it has not fulfilled that mission. the proof is that it is still dumped when a crisis or inflation occurs. one more thing, bitcoin is not used as a currency, if people considered it currency, they wouldn't have dumped it when bad news attacked us. most of us only see bitcoin as an investment asset, and that is why it cannot become a currency nor a safe haven when inflation occurs.