HOW DOES BTC DO IN AN ECONOMIC COLLAPSE ? VENEZUELA FOR EXAMPLE ?

[Anonymous No.11780377]

LETS SAY ANOTHER 2008 IS ABOUT TO HAPPEN OR CIVILWAR 2.0 HERE [US].

WILL BTC BE A THE CURRENCY TO USE BASED ON HOW VENEZUELA IS DOING OR OTHER EXAMPLES........

[Anonymous No.11780392]

it'll go up 1000x if that happens b/c it is uncorrolated.

[Anonymous No.11780417]

>>11780377
BTC will never work as a currency in the state it is in now, due to its technical limitations.

1MB is pissants in the relatively small crypto economy. Replacing currency as a whole wont work.

[Anonymous No.11780436]

>>11780417
>BTC will never work as a currency in the state it is in now, due to its technical limitations.

but it works right now as the currency storage of wealth for the decentralized ecosystem.

[Anonymous No.11780444]

>>11780417
>1MB
explain this,im retarded

[Anonymous No.11780658]

>>11780444
block size

[Anonymous No.11780676]

>>11780436

You're storing a number on a decentralized database, and using a lot of purchasing power to change said number.

"Storing wealth". Wealth is achieved through utility, something BTC lacks, thus its value will eventually decrease.

[Anonymous No.11780706]

>>11780676
If blockchain didn’t have utility for storeing property claims or productivity why the fuck would this board exist?

[Anonymous No.11781460]

>>11780377
Venezuelan here.
Yeah, we may use BTC a lot, but there's still a wide percentage of the population who's farmer tier and just don't know about it.
If your national currency is as shitty as ours (>10000% inflation), then the USD or BTC/ETH would be the way to save some money.

[Anonymous No.11781550]

>>11780676
yeah there's no utility in having a transferrable ownership share in something that's able to be transported anywhere invisibly, sent to anyone in the world in any fraction, unable to be stopped by governments, and unable to be seized if you know what you're doing

[Willy No.11781590]

>>11780377
>HOW DOES BTC DO IN AN ECONOMIC COLLAPSE ?
so far not very well unless the collapse is very civilized and amiable. recent disasters show usd being the no1 currency followed by booze cigarettes and fuel and nobody taking crypto when shit really hits the fan like a fucking hurricane.

[Willy No.11781646]

>>11781550
there is great value in it as an escape vehicle meaning your crisis is localized and the rest of the world is doing fine and you can actually make a run for the borders. 3 big ifs. but in that case extremely valuable. only you have to stock up before the crisis cause after it hits it's gonna be near impossible.

[Anonymous No.11781654]

>>11780377
You can't compare the US to Venezuela. Bitcoin will do best when the governments start printing fiat without wildly, but it depends towards whose pockets that money goes.

In Venezuela's case that money goes to regular citizens through the never ending minimum wage increases, regular citizens use it to buy basic stuff so the price of those things goes up.

In the US that money would go to large corporations or banks, corporations don't buy groceries with it, they mostly buy back their own stocks or play in the stock or real estate markets, so in the US what you see is inflation in those markets not in consumer goods.

[Anonymous No.11781776]

>>11780706

This board exists because /g/ was overrun with crypto shit threads, so they made a containment board to hold all the trash.

[Anonymous No.11782252]

>>11781654
>wildly
This period will be but a brief window-- what we are talking about is volatility like that which afflicted the Romans in the 3rd century AD.

[Anonymous No.11782563]

In the case of EMP or something similar bitcoin and every other crypto currency would be absolutely worthless and non accessible

[Anonymous No.11782575]

>>11780706
>>11781776
Lol fucking newfags

[Anonymous No.11782602]

>>11780377
Cyrpto requires massive amounts of infrastructure already be in place. The electric grid and internet are the biggest two. In a crises like a civil war these systems will probably be down for months or years.