Could a bitcoin crash wreck the economy?

[Madison320]

Peter Schiff was talking about the bitcoin bubble possibly being bigger than the dotcom bubble. I've always believed that bitcoin will eventually crash to zero but it never occurred to me that it could bring down the economy. My guess is if bitcoin gets too low trump is going to do something to pump it back up.

That being said I think a bitcoin crash would be good for the economy in the long run. It would free up resources for useful stuff.

 

[oyarde]

I dont think bitcoin will crash or go to zero , because at whatever certain amount there will be a buyer.Pick a number 10k , 20k , 30k etc. . It has some appeal as being something that is limited , unlike all fiat junk currencies. I also dont think it will crash the economy like a stock and or oil bubble. The only thing I can see suffering from bitcoin market is gold . Gold would be near 10k without bitcoin Id guess , on par with an acre of land as it was prior. Your right though that that money isnt doing anything for the economy but no real savings are. Real savings could include dividend paying stocks or entities with realized gains , gold , silver , land, bitcoin etc. It is why people like me contribute very little to the economy.I dont need to buy anything but basic necessities and if Ive got excess Id buy a gold coin. The avg guy owns nothing real but his home with everything else being in a 401k and typical stocks that if cashed out would not keep up with inflation once inflation and capital gains taxes were subtracted. So they think they are doing well because inflation is reported at 3 and they think they are making 8. In reality inflation is 7 or 8 and if they make ten after capital gains taxes are in the hole, an actual negative.

 

[69360]

No, because anyone with half a brain would see it coming from a mile away and short it.

 

[Madison320]

No, because anyone with half a brain would see it coming from a mile away and short it.

Plus I don't think most companies have much crypto exposure so it would be more of an isolated event.

 

[Madison320]

I dont think bitcoin will crash or go to zero , because at whatever certain amount there will be a buyer.Pick a number 10k , 20k , 30k etc. . It has some appeal as being something that is limited , unlike all fiat junk currencies.

I pick 1 cent.

 

[oyarde]

If you want to be successful in hedging a crappy future just do what central banks do and buy gold , 2022 - 2024 central banks bought 4180 tons of gold. Gold was an avg of 1800 in 2022

 

[CaptUSA]

That's kinda like blaming a car crash on the seatbelts.

 

[Danke]

Governments are getting a lot of of it. China is accusing the US government of hacking a lot of their bitcoins.

 

[nikcers]

The housing market is crushing the economy.

After 2008 they pushed globalism and anti American trade policies that have been destroying our country.

We basically fought a cold war and a war on terror and we need a "Marshall plan" for the United States because otherwise western civilization is collapsing.

 

[acptulsa]

The housing market is crushing the economy.

The crashing dollar is crushing the economy, and it's being done on purpose. Everything else is either a result of that, or evil bots programmed to make lame excuses.

 

[nikcers]

The crashing dollar is crushing the economy, and it's being done on purpose. Everything else is either a result of that, or evil bots programmed to make lame excuses.

The dollar will be fine. Im more worried about our people.

Our people don't have houses to live in because we were paying for a world police to keep the world free while other countries were getting a free ride.

 

[acptulsa]

The dollar will be fine.

The dollar isn't a penny. It will be history, stupid bot.

 

[nikcers]

The dollar isn't a penny. It will be history, stupid bot.

The wealth and power of our nation is bigger and stronger than it ever has been in the past.

 

[acptulsa]

Our people don't have houses to live in because we were paying for a world police to keep the world free while other countries were getting a free ride.

Our people do have houses to live in, those of us who can still afford rent. We're just not allowed to buy them because Blackrock took all the blood money they got for building missiles and used it to buy up all the houses.

Stupid bot.

 

[acptulsa]

The wealth and power of our nation is bigger and stronger than it ever has been in the past.

And held in fewer hands, with fewer people benefitting.

 

[nikcers]

And held in fewer hands, with fewer people benefitting.

As long as that wealth and power is secure then it will continue to exist.

What wont continue to exist is the people.

 

[acptulsa]

As long as that wealth and power is secure then it will continue to exist.

What wont continue to exist is the people.

Psychobot is at it again.

All we have to do is unplug you, psychobot.

 

[Anti Globalist]

We've been hearing about a bitcoin crash for years now. As far as I'm aware that has never once happened.

 

[Madison320]

We've been hearing about a bitcoin crash for years now. As far as I'm aware that has never once happened.

It'll crash eventually but I don't think it will crash until the overall bubble crashes. And that won't happen until we get high to hyper-inflation and can no longer print our way out.

 

[69360]

We've been hearing about a bitcoin crash for years now. As far as I'm aware that has never once happened.

It has, it went from 64k to 16k 2 years ago. It's dropped 20k in the last month.

What do you consider a crash. To zero?