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Would Bitcoin crash in a recession, or would...
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Would Bitcoin crash in a recession, or would it actually rise?
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>>1029180
Bitcoin is relatively new and has yet to see a major economic shift.
If something horrible happens to the world currencies, I know my BTC will be my fallback of preference.
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>>1029188

Bitcoin will crash soon- someone will invent new coin, no need to verify bank details when you purchase- it will get pumped up to $1000 a coin, sold for $200, then get pumped to 650 and go to $50, then become worth nothing.

Just like your stupid bitcoins
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>>1029180
bitcoin is so fucking small it has nothing to do with economic situation whether it's recession or something else.
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>>1029188
I think it would do well because drug use increases and drug dealing would expand.
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>>1029193
LOL THIS IS kwukduck FROM BITCOIN TALK AUEHAUEHAUEHAUHEAUEHA

what the fuck are you doing on 4chan?

you were that faggot that posted 5 reasons not to buy into the bitcoin hype right when the price was around 200$?

I god damn hope your just a FUD/SHILL

Must of felt like shit not investing in bitcoin right when it was pennies right?

I'm surprised you lasted this long without killing yourself.


https://bitcointalk.org/index.php?action=profile;u=654;sa=showPosts
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>>1029180
>2016
>not owning at least 21 btc

Why?
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>>1029324

that isn't me buddy

The smart people only tell you things when it's too late- they've already made their money
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>>1029348
Why that amount? Jeez. I thought I was doing well enough with 4 of the fuckers.
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>>1029351
There is only 1 person going around bitcoin forums with freshly accounts with no post history spamming posts saying BITCOIN IS GOING TO DROP TO XXXX to 50$s

And now your here on 4chan?

The only time you people come out is right before a 20$ pump for bitcoin.
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>>1029383
21 million is the most bitcoins that will ever be mined. 21 secures you 1/1mm of everything btc will ever become.
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>>1029383
>Not having over 150 and making over 9000 just in today's gains.

Bitcoin isn't for the weak of heart just keep holding.
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>>1029549
>you 1/1mm

one millimeter is a lot of bitcoin!
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>>1029180
If there was any sort of significant crisis and subsequent recession, bitcoin would fall because it is a risk asset (using the term asset loosely).

During recessions people move out of risk assets and into safe havens so things like government bonds, CD's, and cash would see a boost. For a semi-recent example of that, you can look the 2008 financial crisis.
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I think it will remain largely unaffected. Its such a small market that anything could affect the price.

I dont think bitcoin holders would sell during a stock crash.
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>>1029589
In other words, the market is so granular that a fall in the wholesale price of onions is just as likely to cause volatility in the bitcoin market as a stock market crash.
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>>1029594
Unless of course the recession put a fair number of bitcoin holders in a financial bind where they have to sell things to get themselves out or stay afloat as is often the case in recessions.
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>>1029599
I dont think so mate. I just dont see thos view of the market as realistic. Bitcoin whales who are in the position you described, i feel, are the vast minority.
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Are you guys still fucking:

1) Questioning if Bitcoin does good in a troubled scenario
2) Not owning at least 1 BTC

Just lol absolutely fucking lol.
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>>1029180
>1) Questioning
Now why would a bitcoiner ask a question about a ressesion? Mmmm I just can't connect the fucking dots /biz/ I think we should put more money in stocks (sarcasm)
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>>1029197
Until this recession gets into full swing. Everyone who isn't a goldfag will look into Bitcoin to store their value.
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>>1029567
How is bitcoin not a haven? It's completely from government fuckery.
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>>1029589
>I think it will remain largely unaffected.
>Its such a small market anything could affect the price.
...
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>>1029618
They don't even have to be whales. Recessions affect everyone is some way and some more than others. If a lot of bitcoin holders are in a financial bind, they may have to sell it in order to stay afloat.

>>1030478
It's extremely volatile, illiquid, backed by nothing, and wholly and totally speculative.
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>>1030478
Basically, the only way for it to remain as a viable option in time of complete and total global crisis/shutdown, everyone would need to agree to keep using bitcoins as currency in order for it to hold any value, kind of like how people use caps in any fallout game, because fiat money became useless paper.

However, the difference between caps and bitcoins, is that with caps, it's a physical commodity and you don't require the use of the internet and computers to exchange, which, in a crisis situation, would be one of the first things to get shut down.
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>>1031130
The USD is backed by empty promises. Bitcoin is backed by maths.
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>>1029559
how did you make that. please spill anon.
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>>1031162
What the fuck are you talking about. Even in a drastic economic collapse there will still be the internet. You can get internet in somalia. The internet is just a network of servers its not something that can be shut off with a single point of failure. There will always be a need to send money over the network. Even more so since centralised systems like swift banking could easily be shut off or capital controls implemented to stop worldwide bank transfers.

Bitcoin would be the only way to transact if major banking networks are threatened.
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>>1031190
Empty promises eh? What promises would that be exactly? That's it's the only recognized currency used for trade by the US and serves as a medium of exchange? I assure you, it's true.
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>>1031236
They can print as many as they like. Its also possible to counterfeit.

Bitcoin supply is strictly known and limited. Its also impossible to counterfeit making it a better medium of exchange.

Next!
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IS IT WISE TO BUY SOME BITCOIN THEN /biz/ ?
>>
oy vey

I have 60 buttcoins. am I going to make it?
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>>1031254
>not already having buttcoin

He fell for the bitcoin is a meme meme.
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>>1031252
It doesn't actually matter that they can increase the money supply. In fact it's a good thing to support a growing economy.

It's theoretically possible to counterfeit but it matters less these days due to the move toward a cashless society. It's also extremely difficult to do and when it's discovered, it's promptly stopped by the secret service.

Bitcoin is inherently inferior due to its illiquidity and extreme volatility making totally inappropriate as a currency.
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>>1031262
Certainly. You will be a wealthy merchant in the coming bitcoiny times.
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>>1031269
>It doesn't actually matter that they can increase the money supply. In fact it's a good thing to support a growing economy.

Tell it to the North Koreans

>It's theoretically possible to counterfeit but it matters less these days due to the move toward a cashless society. It's also extremely difficult to do and when it's discovered, it's promptly stopped by the secret service.

Once again refer to north korea

>Bitcoin is inherently inferior due to its illiquidity and extreme volatility making totally inappropriate as a currency.

Illiquidity is a problem that solves itself if it is even a problem that btc faces i dont believe it is. And extreme volatility is healthy in these early stages as bitcoin quickly grows in market cap.
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>have ~100 coins
>wake up with all these gains
>feelsgood
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>>1031284
>Tell it to the North Koreans
>Once again refer to north korea

Why? Was the goalpost moved from the US all the sudden?

>Illiquidity is a problem that solves itself
It doesn't.

>it is even a problem that btc faces i dont believe it is
Last I heard it can take an hour or more for a bitcoin transaction to settle. That is absolutely and unequivocally unacceptable.

>And extreme volatility is healthy in these early stages
No, it really isn't at any point - especially if you try to pass it off as a currency. Besides, how many years has it existed again? I'd hardly call it "early stage."
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>>1031299
Neutral comment here.

>how many years has it existed again?

7 years is not a long time for a currency like this. Especially like this currency.
There is still a lot that is unknown.
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>>1031299
https://en.wikipedia.org/wiki/North_Korean_won

https://en.wikipedia.org/wiki/Superdollar
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Hahah, Bitcoin.

It's still funny.
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I put 5% of what I make in forex in Bitcoin everyday. I make 10% compound interest a month in forex. I started forex 4 years ago. I started with 3000 dollars:) how much money do I have now? How much bitcoins do I buy everyday?
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>>1033333
Daaaaaamn check it out I'm a lucky guy! I'm even luckier in Bitcoin and forex ;)
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>>1031921
>coping
Still funny.
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>>1031356
Yeah, let's just wait for things to unfold guaranteeing you don't become rich if it works.

This is exactly why you'll remain a poor retard.

Also notice the fact that every second Bitcoin is alive:

1) It gets increasingly stronger (as more time has passed since its inception)
2) Alternatives that want to compete will have to prove to last as long as Bitcoin (impossible since Bitcoin has the first mover advantage forever, so it would need to absolutely collapse which is also impossible).
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>>1031299
>Last I heard it can take an hour or more for a bitcoin transaction to settle. That is absolutely and unequivocally unacceptable.

That's fucking retarded. See this video:

https://www.youtube.com/watch?v=8zKuoqZLyKg

If you don't trust 0confirmations, then just wait for 10 fucking minutes.

In any case, in the future thanks to LN we will have higher volume of transaction per second than all current payment processors at once.

Just think about ANY problem you may have with Bitcoin, and it's alreay being addressed thanks to it being programmable, unlike any other form of money ever.

It's over, Bitcoin has already won, deal or cope.
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>>1031269
>coping against objective reality
Every nocoiner's fate.
>>
I will be spending my crypto wealth on gas chambers for nocoiners. Doing the future a favour, one dead nocoiner at a time
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>>1034638
>gas chambers
>nocoiners
fuck you kike.
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So, i'm an ultra noob, like fresh outta the womb noob, i just heard the nurse say something abut bitcoin and i want to know how to get them before my first moma-titty-milk!
any suggestion / hint / link will be helpful!
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>>1034839
Poloniex
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>>1034851
googling right now.
>better not be cp
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>>1034851

>>1034853
>Poloniex
i wanted a "Bitcoin 101" kinda thing desu senpai.
never mind though, on YouTube right now.
let me learn the alphabets first, will bother you guys later.
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>>1029202
I just thought bitcoin was like the next thing in world trade. Exactly the same reason. As long as people are buying it, it makes sense for everyone to use it.
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Hey folks, I learned about Bitcoin way back in 2011 when Silver and Gold were trading at All time highs...

They were trading at something like $55 and $1800

I had to set up a second life account to buy them, since
I was paranoid about using them when it came to my job.
Great Decision...

As for the global economy, some nations will fare better than others, people will want to immigrate, and the nations in turmoil will have capital controls...

Not to mention but, there are two billion people on this planet without access to modern banking, out of every 10 poor Somalis kicking around a refugee camp there is one guy whos go some skills making corrugated huts, but the only place he can store his stash is under a pillow.
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Second life account? Bitcoin? Youre confused surely. You mean linden dollars?
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>>1036147
They were trad-able for Bitcoins but you could use a credit card to buy Second life money, and you could sell second life money for bitcoins...

I got enough to buy some great Canadian cid on the silk.

Since then I've quit from my old Government job and been sustaining a comfortable existence with a couple Petahash... Which is going south now, with the price doubling in only a couple months the Hashrate has also doubled, I had to drop another sizable investment to upgrade to the new Antminers...

I hope I don't have to go back to Avionics work...
Thread replies: 57
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