Will The Looming Worldwide Financial Crisis Take Crypto Down With It?
THIS IS NOT FINANCIAL ADVICE; THIS IS MY JOURNEY. YOU ARE RESPONSIBLE FOR YOUR MONEY.
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Dow drops 800 pts, markets around the world crashed.
holla at @bchainbastards for nice write up: https://steemit.com/bitcoin/@bchainbastards/red-october-4-reasons-the-world-will-never-be-the-same
Big crash in all markets.
A market crash will crypto crash with it?
At this low market cap, yes, in the future I believe no.
Emerging markets are like altcoins.
change laws on cap gain tax for cryptos.
People gloss over EOS, Bitshares, and Steemit. Sign of the mighty.
Why speak up?
If not only people be heard are people like Nouriel Roubini will replace your voice.
- how can one hate something no one completely understands?
- mother of all bubbles at like .01% of GDP - Nouriel
Merchant adoption of steem; Steem on bitpay.
If you're on youtube why would anyone switch? Confidence will bring them.
Witness Spotlight:
@themarkymark -
Second-person I talked to on Steem that reached out about the hack.
Jumped on call, was an interview turned into a conversation.
Answered all my questions and seemed like a stand-up guy.
A Veteran who helps vets on Steem.
Continually assisting the network by fighting Abuse/Spam.
Helps content creators through curation; he holds a weekly live curation gives significant upvotes to the community.
Head on straight about the price and future of Steem.
Learn more about him here: https://steemit.com/witness/@themarkymark/7j39pe-witness-update-themarkymark
Vote for @themarkymark here: https://steemconnect.com/sign/account-witness-vote?witness=themarkymark&approve=1
I'm going to kill it here:
Holla at @meno and @krystle for having me on their show last night!
Show: https://steemit.com/mspwaves/@meno/a-two-hour-interview-with-dhenz-aka-theycallmedan
Cheers, Peace.
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Good to see you still doing your videos. The new intro is classy, rather sharp change from the rap!
I'm gonna kill it here, peace.
Richie, my man! Glad to see you on Steem. Ya I usually put out a vid a week to keep the journey documented.
I feel like we need a dedicated site for steemdapps radar.
Thanks for another great video!
There is this...
https://steemprojects.com/
did you mean something different?
Yeah something that shows it stats like the other dappradar sites, like transactions sent, value of transactions and make it clear that there are no fees. ;)
People saying STEEMIT is a scam makes me wanna punch them in the face...
!popcorn
Thanks for the mention Dan, really appreciate the shout out and the kind words.
Thanks for the S/O Dan! Much appreciated!
Will The Looming Worldwide Financial Crisis Take Crypto Down With It?
Nope.
It's possible that Crypto will replace fiat.
I think this crisis might start crypto market growth.
A meltdown of the US stock market will have a ripple effect that will cause economic distress world wide. It could very well push already distressed economies beyond the breaking point. Remember Venezuela? The Venezuelans have gone to great lengths to adopt cryptocurrency to replace their own failed currency. I'm not talking about the petro coin, but other cryptos that Venezuelans are using despite their government's attempts to prevent alternate currencies to flourish.
A crypto boom in the face of stock market crash really depends on how bad it gets for some countries. I would hate to see such economic disaster. If that does come, I would expect that mass adoption could take place when a fiat currency fails and there are little other options.
Always bringing that real talk! 💪🏼🙌🏼😀
Nice video man. I would have to disagree slightly, though. After the Greek financial crisis, Bitcoin had a bull run because more people saw the need for a safe place to store their wealth outside of banks. I think the same thing will happen following the next financial crisis.
I think the general consensus is if it is just a usual recession it will hurt crypto since people will need to sell assets to pay debts but if it is a financial catastrophic ( like GFC) people will be broke beyond repair and may look for same havens for salvation.
When I say general consensus , I mean something I just made up after reading your post.
Emerging markets have a lot of money on the sidelines, we're talking billions of people. I really don't care is the USA finds safety in crypto, they can buy gold/silver. I really think we are going to see everyone from central/south america to africa and many other underbanked countries. Time will tell though.
Any one financial downturn if /when it happens will likely not be localized to USA..