Could meltdown give more value to Cryptocurrencies?

Hi guys,
For those who know or use cryptocurrencies, I would like to know your opinion about the future of cryptocurrencies in case of economic turbulence.

For my part, I believe that cryptos will begin to be accepted and slowly regulated, but it will be very difficult or impossible to compete with FIAT. Regulation could bring less volatility and greater acceptance.

Now, with regard to the turbulence, I think it will depend on the scale of it.
If people start losing money at banks or can not access their savings for a period of time, it could be a reason for them to choose to "be their own bank" and start using cryptocurrencies for common transactions.

For me, this would be the case so that its use and therefore its value increases.

What do you think?

Cheers

I honestly don't believe that crypto will take the form of money in quite that way. They will always still depend on the price of the dollar for majority of the world. Sure, you can buy a lambo with crypto but that's only because it has a dollar value. Without that value, it's worthless. Even if the dollar fell, the crypto market is far too flimsy and can be affected far worse than regular stock, not to mention stolen with very little to no trace. The value will still depend on the value of the dollar.

Anyone who puts their faith in the Crypto... They're just asking to get ripped off in the end. Batman figurines may be valuable today but tomorrow no one may care.

If you want to find something that's SERIOUS to invest in that you won't lose your life savings on... Gold, Silver and Farmland! Invest in that.

Yes, specifically fidelity and several other institutional investors are looking to make crypto trading desks. This will increase market volume specifically in the derivative markets for crypto’s in the top 20. I actually hold some btc, xrp, and etn and I see the market rebounding next year after a depression last year. I am expanding my holdings and will continue to do so this year. 2020 will be the key year for the next market high I think.

originally posted by: Jechu
Hi guys,
For those who know or use cryptocurrencies, I would like to know your opinion about the future of cryptocurrencies in case of economic turbulence.

For my part, I believe that cryptos will begin to be accepted and slowly regulated, but it will be very difficult or impossible to compete with FIAT. Regulation could bring less volatility and greater acceptance.

Now, with regard to the turbulence, I think it will depend on the scale of it.
If people start losing money at banks or can not access their savings for a period of time, it could be a reason for them to choose to "be their own bank" and start using cryptocurrencies for common transactions.

For me, this would be the case so that its use and therefore its value increases.

What do you think?

Cheers

Yes, specifically fidelity and several other institutional investors are looking to make crypto trading desks. This will increase market volume specifically in the derivative markets for crypto’s in the top 20. I actually hold some btc, xrp, and etn and I see the market rebounding next year after a depression last year. I am expanding my holdings and will continue to do so this year. 2020 will be the key year for the next market high I think.

originally posted by: Jechu
Hi guys,
For those who know or use cryptocurrencies, I would like to know your opinion about the future of cryptocurrencies in case of economic turbulence.

For my part, I believe that cryptos will begin to be accepted and slowly regulated, but it will be very difficult or impossible to compete with FIAT. Regulation could bring less volatility and greater acceptance.

Now, with regard to the turbulence, I think it will depend on the scale of it.
If people start losing money at banks or can not access their savings for a period of time, it could be a reason for them to choose to "be their own bank" and start using cryptocurrencies for common transactions.

For me, this would be the case so that its use and therefore its value increases.

What do you think?

Cheers

a reply to: camain

Good luck with that. I sure hope you're not putting your life savings in an imaginary currency fad.

Crypto is high risk, no I have a 401k, working on a pension in 15 more years, and a cash reserve. Crypto you only invest what you can afford to lose, it’s on step above vegas. Anyone that tells you different is a liar.

originally posted by: StallionDuck
a reply to: camain

Good luck with that. I sure hope you're not putting your life savings in an imaginary currency fad.

a reply to: StallionDuck

I agree, it will not take the form of money. To me they are like stocks (which hold monetary value), but that you can use to do transactions and buy stuff. You can actually buy property with cryptos or dollars, you choose.

bitcoin-realestate.com...

There are several other companies that accept cryptos too. You can also invest, loan and get revenue out of your crypto.
There are apps that pay dividends (some even 1% daily) for your fixed term deposits in crypto. I believe it is getting acceptance.

Cheers

a reply to: camain

I hold too, XRP, BTC, LTC, XLM not as much as during 2017,but still have money in it. I trade and invest.

Of course, cryptos are high risk and you should't put your life savings or invest money you can't afford to lose.

*Disclaimer: I'm not a financial adviser, just giving my opinion on the matter.

Cheers

originally posted by: Jechu
a reply to: StallionDuck

I agree, it will not take the form of money. To me they are like stocks (which hold monetary value), but that you can use to do transactions and buy stuff. You can actually buy property with cryptos or dollars, you choose.

bitcoin-realestate.com...

There are several other companies that accept cryptos too. You can also invest, loan and get revenue out of your crypto.
There are apps that pay dividends (some even 1% daily) for your fixed term deposits in crypto. I believe it is getting acceptance.

Cheers

Sure, almost exactly like stocks except... You can influence it legally any way you want to. There are no laws for or against it. No regulation. If it's stolen from you, there are no laws for you to get it back even if you know who did it. At best, you can get them for hacking. It's a "virtual" currency and named thus for a reason. The reason the US Gov hasn't stepped in, they probably believe it's a fad and it'll go nowhere. Hell, they probably created it and got richer than Richie Rich off it. It's widely known that people super inflate it just to make millions off of it and oddly enough, no one seems to care. That would be cool if and when you knew it was happening and when each time they deflate and inflate it so you can be rich too.

originally posted by: StallionDuck
a reply to: camain

Good luck with that. I sure hope you're not putting your life savings in an imaginary currency fad.

BTC just hit the ten year mark.

Little outside fad territory.

a reply to: Jechu

The value of a blockchain lies solely in the interest that people have in it. It has no intrinsic value that isn't placed upon it by snake oil vendors.

At least gold and silver can be used for other purposes beyond financial trade. There are so many things that are wrong with blockchains, and the most glaring is the ponzi-ness of it all.

How can you be positive with the precipitous drop in value of the most popular blockchain having already occurred. A drop which, in the actual financial sector, would have resulted in numerous leaps from tall buildings.

I'm not an investor, but if I were, I'd stay faaaaar away from any business that lost as much as blockchains.

Please use your money to do some research and stop trying to convince other people to fall down the same hole you did.

This is what I do, go to coinmarket cap, choose the coin you want historical data on, then copy it to text and save it. Next open excel, go to data and import from text. This will dump all the data nice and pretty into excel. Next find the coin growth rate(how much mined per week and average growth rate per day. Add this to your chart. Take the data and forecast it, you should get a hi, mid, and low forecast. Then just watch the daily market to see where it’s hitting on the forecast and judge accordingly. With alt coin, market cap is more susetible to explosive growth with exchange listings. Animal spirits definitely have a candle effect on them. So keep that in mind. By low, sell on the candles with the good news, buy low again, watch the forecast average.

That’s what I do, I’ve made a total of 3.50 this year alone 🤓. Hoping to be able to afford a burger..... maybe next week.

Camain

originally posted by: StallionDuck

originally posted by: Jechu
a reply to: StallionDuck

I agree, it will not take the form of money. To me they are like stocks (which hold monetary value), but that you can use to do transactions and buy stuff. You can actually buy property with cryptos or dollars, you choose.

bitcoin-realestate.com...

There are several other companies that accept cryptos too. You can also invest, loan and get revenue out of your crypto.
There are apps that pay dividends (some even 1% daily) for your fixed term deposits in crypto. I believe it is getting acceptance.

Cheers

Sure, almost exactly like stocks except... You can influence it legally any way you want to. There are no laws for or against it. No regulation. If it's stolen from you, there are no laws for you to get it back even if you know who did it. At best, you can get them for hacking. It's a "virtual" currency and named thus for a reason. The reason the US Gov hasn't stepped in, they probably believe it's a fad and it'll go nowhere. Hell, they probably created it and got richer than Richie Rich off it. It's widely known that people super inflate it just to make millions off of it and oddly enough, no one seems to care. That would be cool if and when you knew it was happening and when each time they deflate and inflate it so you can be rich too.

a reply to: JinMI

Correct, and "Proof of keys" did nothing (as far as I know) to the exchanges. This means not only the cryptocurrencies, but the exchanges are solid.

Of course there are a lot of scams and risk due to volatility, hacking, etc. But you can lower that risk just by being smart, starting with a little bit of research and your physical wallet.
On my side I use Ledger Nano and works like a charm.

If risk is something you don't like, then cryptos are not for you for the time being.
If you like risk, you can choose from "bit of risky" to "extreme risk - very high revenue"

Cheers

a reply to: Jechu

I'm of the opinion that the markets are heavily manipulated at the moment.

Thus why proof of keys was so minimal to the sphere.

It's still young. This year will be a good benchmark.

a reply to: wtfatta

Thanks for your reply!

Please use your money to do some research and stop trying to convince other people to fall down the same hole you did.

I'm sorry if you got that impression, I'm not trying to convince anyone to invest or not invest in this.
It is clear to me that you are not the kind of person who invests in this and that is ok. There are other people (like me) who do.

Blockchain is the technology behind the cryptocurrency, the two are different but linked.

This is so interesting, that even central banks are doing their research on how to implement blockchain. VISA just purchased a payment network firm (based in blockchain) from a Cryptocurrency called Ripple. All the main companies in the world are doing research and trying to implement blockchain into their procesess.

Even the Federal Reserve is thinking on making their own cryptocurrency called "FedCoin"

Again, blockchain and cryptos are two different things.
Please don't take it wrong, but it would be good if you investigate a little bit about it. It is very interesting!

Cheers

Sorry, forgot the links

VISA buys payment firm

Can a Central Bank use Cryptocurrency? - JP Morgan

From this last link:
"From Sweden’s Riksbank studying the issuance of a so-called “e-krona” to the Bank of Canada experimenting with a peer-to-peer system known as Project Jasper (CADcoin), it is evident that traditional banks are exploring the practicalities of issuing central bank cryptocurrencies (CBCC)."

"Despite the early stage of cryptocurrency adoption, the Federal Reserve System has mused the possibility of “Fedcoin” for the U.S."

Cheers

a reply to: Jechu

The people in power behind the central banks are ruthless and will not let their power be taken away.



It's a 4 hour video. I've watched it twice.

no they will go down just as fast as usd if not harder

problem is once the stability of debit/credit is gone people will lose trust in electronic money and once they cant even get cash they will lose faith there will be a way to pay for a isp to use crypto

I hate hearing the term "currency" with bitcoin.

It's as good as a Western Union stock, but more unstable.

The argument that x accepts it is bs too. X trades it for dollars, the buyer buys the bitcoin with dollars.

It was intentionally killed by putting it in the stock market.

You can daytrade off the dreamers though.

a reply to: Jechu

In a real crisis crypto is absolutely useless. If even a fraction of all payments would be done in crypto, it would take more electricity than we HAVE on this planet...