Crypto: Economic Crash

[darkmonkey666]

One question that I want to ask. When and if the economy collapses majorly will this collapse cypto as well or make it way more valuable. I am just asking in general not a specific coin in this question. I assume the stock market would go down or crash if such a thing happened but what about crypto.

 

[High Priest Zevios Metathronos]

Both scenarios are equally plausible and whomever tells you they "know for sure" what is going to happen from a material and logical perspective, is giving mostly an emotional prediction. These two systems have not co-existed in history before.

It could go to zero, or keep increasing a lot during a crash of the traditional financial system. The same goes for gold and other commodities.

The only thing that will remain "The same" after a collapse, is things owned, like land, farms, and so on. This is why a percent of wealth should be stored in actual properties and property rights.

 

[Tyrone1978]

There is talk about the enemy shutting the Internet down or parts thereof. I read in the paper about the government targeting digital currencies for banning and control.

Only problem I imagine with cryptocurrency could be if you're locked out of the Internet as with their planned social credit scoring. Or they just censor and take the Internet down.

https://brandnewtube.com/watch/when-will-they-shut-down-the-internet_7gbrRYt5rpCbwxx.html

 

[Henu the Great]

I don't see how bitcoin with the bloated blockchain (slow transactions and high transfer fees) would ever be global currency. It's a good way to hold some wealth, and for some trading and shopping, but that's about it.