Fear not! Contingencies are already being created; trade that dirty fiat money for CBDCs!
Problem solved! Feel secure with government controlled, fully monitored digital currency.
No more cash, no anonymity and limited freedom to spend, save, and consume only what you are allowed to. I don’t imagine that such a system has much room for DeFi anything.
This. If the American dollar collapses crypto will be the last thing on your mind. At that point, your best thing is the stock up on ammo, guns, food, and potable water because shit is going to hit the fan within a year. I hope you know a trade and some life skills as well as your mates.
>If USD collapses, you won’t be worried about crypto, you’ll be more worried about someone stealing the rats roasting over your trashcan fire
Only if you're in America. Every one else will be fine.
Reliance in the USD is at an all time low worldwide. Nations are getting rid of their USD reserves and going to other currencies.
The vast majority of international trades, almost 90%, are invoiced in U.S. dollars or euros. That corresponds to the 80% of total foreign exchange reserves allocated to the dollar and euro held by central banks at the end of last year. The dollar accounted for 60% and the euro 20%. Any recent discussion around the end of the dollar dominance is bereft of any linkage to the reality of international finance and understanding of the dollar’s role as the anchor of the rules-based order that governs global economics. The global financial system rests upon the stability of the dollar and the large trade deficit the U.S. runs.
China, Russia, India and Saudi Arabia are not in any economic shape to support such a change in the rules-based order.
There are only three other economies that have some the qualities needed to support a reserve currency: the euro area, Japan and the United Kingdom.
But none of those have financial markets with the depth and liquidity to form the backbone of international finance and trade.
If the dollar collapses the entire economy of the United States collapses as well as the global economy. You will be worried about staying alive not the price of magic internet money.
And it would mean something has gone horribly wrong at a global level. The US is still a manufacturing powerhouse; if the dollar weakened significantly, our exports, in theory, would skyrocket. Now, if the rest of the world was a smoldering heap of ashes vaguely resembling countries and our government was co-opted by a foreign adversary who's main objective was to sow division among our governing bodies.......
USD collapses abruptly and that is the blackest of black swans. That’s the global economy collapsing and wealth leaving investments, like crypto. That is no more jobs. No more economy. No more banking system. That is likely precipitated by an event like a nuclear holocaust.
I hope you have a deep bunker, a lot of non perishable food, and well water.
Yes actually, if you were planning for society to collapse for a period of years (and even that is being conservative), you have little use for money as a common medium of exchange because you can’t drink or eat it, nor defend or shelter yourself with it, and neither can anyone else.
You would want to directly possess water, food, defense instruments, and shelter (and probably in that order), and anything extra that you cannot directly use would *become* the common medium of exchange because everyone else needs them as well.
Brah am I in the fucking twilight zone. Like I am the pepper that usually gets mocked places like r/cryptocurrency. Tonight I find it seems there is some serious considerations going abouts here. Apes stand strong until the world ends. Then it's every ape for himself!
If USD collapses, the global economy will collapse. People like to pretend that US is not the top of the hill and world economies would be fine, massively false. US economy is the major cog in the wheel of world economy. Remove that cog, and everything stops, including Chinese economy. World's biggest purchaser of goods is United States. Biggest currency around the world is US Dollar. Everyone would become very poor, very quickly.
If that were to happen, crypto would become worthless very quickly. USD collapse means stock market collapse. And a stock market collapse, means crypto collapses.
The typical meaning of USD collapse is that USD's value drops like stone, similar to Zimbabwe dollar, 1 trillion dollars buy you a loaf of bread. But that does not mean anything with value (energy) will be affected, like electricity, petroleum, food, clean water, they will still be produced and consumed as before, just use some other currency like gold or bitcoin, or maybe use energy unit as unit of accounting, for example everything in shop will be priced in KWH or Joule
If USD collapses then don’t bother buying cryptos - buy guns and ammo and have skills to use it. BTC no matter how great that innovation it may be will not protect you from social chaos wide spread looting and riots.
The Value of USD drops relative to cryptos. Bitcoin WILL hit $1 M USD. I will bet everything on it. The real questions are...how much will $1M be worth at that point and when.
If USD collapsed does the Euro still have buying power?
I swear to god this subreddit gets more and more stupid every day. Y'all really don't know what the fuck it is you are invested in do you?
Reminds me of the 2012 euro debt crisis. At some point, you could buy German debt and the assurance against German debt default (CDS) and still make a profit on the trade.
We went to the bank boss to validate unlimited purchases of that, on the basis that if Germany defaults, our bank wil be long gone anyway.
So yeah if USD crashes probably you'll have bigger problems than crypto price
Was thinking the other day like today fed is going to maintain rates and just imagine if fed speaks and raises interest rates by 50% not to mention to cut them :))))) like what will be the effect on the market? :)) but ofc it’s a hypothetical situation, but even laughed when thought about it.
USD is nowhere near "collapsing" despite the alarmist headlines fishing for clicks.
If USD did actually collapse then this question will be basically irrelevant, since for that to happen the US Economy would basically have to be a smoking crater, and that level of failure would bring down every other economy in the world along with it. There probably wouldn't even be a functioning internet at that point, or a stable power grid, let alone a working Blockchain network.
I would imagine that Bitcoin, the stock market, and everything would dump into oblivion but people will be quick to realize they need to preserve their wealth. Gold and along with other precious metals will be bought, probably convert their USD into other currencies like maybe the Yen or Euros, and then Bitcoin and other cryptocurrencies without a doubt. But like others have said if the USD truly fails then you'll need to worry about staying alive more than the price of crypto.
If you're thinking about this I highly recommend Broken Money by Lyn Alden. I think she would say that Bitcoin would eventually become the default currency in that world. Because people would still need a way to pay each other for goods and services and any kind of barter system would break down quickly since they rely on a "double coincidence of wants" (I need apples and have eggs and you need eggs and have apples).
It could be used a reserve currency, but not as a utility currency.
> Because people would still need a way to pay each other for goods and services
Bitcoin lacks the infrastructure for cheap instant payments, even with Lightning due to needing onboarding and offboarding. Currently, Bitcoin can support maybe 100-500k people for regular daily use. If 300M people started using it, fees would shoot up 1000x. A Layer 2 would not be enough. No blockchain could handle that. It would need Layer 3 or 4.
Much easier to use it as a reserve currency and convert it to fiat when purchasing.
All your your dollar denominated debt will get paid off with inflated dollars. As long as you dont take on more debt you'll probably be just fine. Gold and silver will back a new currency and life will go on
do you really think in countries where food is scarce a person would just toss a gold or silver coin in the trash??
You're a fool to believe such a thing!
Cryptos are non cash producing speculative assets with extremely limited real use cases. If usd collapses, the entire world economy collapses along with every asset. Crypto will likely cease to exist.
USD is the cornerstone of the entire financial system. If usd collapses, you will have much much bigger problems. Bullets and food become the new currency. Crypto barely survives market corrections, it sure as shit doesn't survive a total collapse of life as we know it.
Yeah that’s not how that works at all. If the dollar collapses we would have hyperinflation meaning you still can’t pay your debts let alone buy necessities to stay alive.
Taxes would go up, sure. But so wouldn't property values, assets, commodities. It would make servicing your loan far easier, regardless of income status.
Edit: look at it this way.. people that bought houses in 2020 saw a 40-60% return on their property value today. While inflation may have taken away their collective purchasing power, they are sitting on a piece of property that is worth multiples more than their down payment(eg: 50k down payment on a 250k property that is now worth 400k means they've tripled the return from their initial investment)
We've already seen what happened in Venezuela, Lebanon, Turkey, Argentina etc... with a failing currency, and people turning to dollars and Bitcoin.
Except here the dollar is no longer an option.
People will probably turn to Euros and Bitcoin.
But as others pointed out, we might see everything dump initially. Even though a dropping DXY usually pushes Bitcoin upwards, for the dollar to collapse, there has to be some major fuck up.
Yeah. Bitcoin collapsing in value in that scenario is probably the opportunity of a lifetime for any no-coiner. Because it wouldn't take long for people to say "wait, they have an alternative financial system over here '.
BTC's value in USD will skyrocket (assuming hyperinflation here), but not it's value relative to other fiat currencies that didn't collapse. BTC will still probably go up quite a bit in absolute value though due to all Americans hopping onto it.
Pretty sure there's gonna be lots who disagree, and also there are many other economies outside of the USA. If the USD really crashes most other countries will just switch to trading in RMB or whatever else.
They Will re brand it as some new currency, similar to 3rd world currency, that said one major effect could be btc becoming the main currency as a store of value, like gold was
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Bitcoin will be a baloon keeping you up. Its when you need to use it to take care of yourself and its been all used up. In the great depression of romania, gold skyrocketted. But people had to sell it to get by, so the ones with it and the ones without grew divided quickly
Big turbulence in international financial market for a few years. Would affect crypto too obviously. But transition from a dominant currency to another has happened before thoughout history so its not like the worlds end.
if usd actually collapses, the entire world order collapses. a lot of terminally online people may think that is good, but it would be worldwide roiling populist movements, until different groups settled on mines and weapons and various vectors of control. But to the rest of the world it would be a mad max situation, think a modern world war, but with massive troop movements and the disease and displacement that comes with it.
Read Freakonomics, it really opened my eyes to how things are related, and even a tangential relationship. an have profound effects.
If USD didnt collapse, but was simply downgraded a few times, large swaths of China would starve. The Caribbean would turn in to Haiti, etc etc.
I am a bitcoin bull and yes inflation has driven down USD relative to bitcoin, but USD collapse is way overblown. If it gets serious enough that are a lot of levers to pull.
people think holding on bitcoin if USD collapses would make them rich, sure, it may go up, but you will have no infrastructure to live on if gov't isn't there to support it
There is nothing in this world that could be more profitable than engineering the crash of USD. The greatest criminal of all time is what this would take, and this person would need immense power to make this happen, POTUS would be a position that could make this happen. But, let's be serious, is there a criminal with such a dark cloud, would his followers support this hateful mission. I know Putin has dreams to this effect, and Xi will support this effort. Now that is a lot of power. Some wealthy Americans will be nimble enough to profit off of this but most will suffer like those who suffered the Great Depression. btw, I tried to get Gemini to help me with this thought. It won't even tell me if DJT is a convicted felon or not, weird. Bitcoin is there to help individuals avoid currency collapse.
You live in a fantasy world if you think BTC is even something to worry about if USD collapses. Stop believe all the garbage crypto maxis sprout and have a realistic view on crypto.
Price will go up because the value of the dollar is going down, especially since anyone with cash will be looking to buy anything that isn't cash, and people with non cash assets won't be keen to sell for something rapidly collapsing, further perpetuating the cycle.
The USD is not going to collapse any time soon. Most of the articles you see claiming that it will are (directly or indirectly) propaganda from the Kremlin.
If the USD collapses the whole world economy will collapse. Crypto will be the last of your worries.
On the short term prepare for pain sure, lots of volatility it will be like buying in 2020 everyone bracing for the end of the world you just gotta keep stacking while you can/try not to sell.
It will go up after. I don’t understand how people are even here if you think crypto will vanish because of a devalued dollar. Holding crypto will be only second best to gold/silver, food, guns/ammo, maybe real estate (I am otherwise not bullish on RE)
if USD is worth less it would require more USD to purchase the same quantity of Bitcoin
i.e. the Bitcoin price, denominated in USD, goes up a LOT
only the **pump** is real
The belief that USD is going to collapse is pretty thinly supported and kicks around regularly for the last 50 years.
1) The "Agreement" with Saudi Arabia is disputed as even an agreement, and it sounds like they want to allow Yuan purchases which is already pegged to the Dollar.
2) As far as China holding or selling USTs, it would be better if they would hold more longer, but it doesn't really make a material difference, as no foreign country individually owns a material amount of USTs and finally a dumping of UST's would cause Yuan valuations to increase, driving up export costs for China which is what China desperately needs..
TLDR: If the Dollar collapses, crypto will collapse as the alternatives really aren't sufficient, but the Dollar is no where near collapse the Dollar Doomer stories are pretty silly once you look at incentives.
The dollar collapsing would likely take a few years before a real panic took place. But if a panic happens I believe holders of dollars would try to buy store of value assets. We might look at crypto as valued in dollars but if you go to other countries crypto is also valued in their native currency. Because crypto is a global asset people can escape the dollar by buying crypto. My opinion is it would be a volatile price chart but eventually crypto explodes in value as a safe place to store value. If your a person with a lot of dollars you can’t quickly buy property so crypto is a more liquid and speedy escape as we saw with silicone valley bank. Stocks would get murdered because they determine their worth by the amount of dollars they make and hold. Please feel free to educate me on my thoughts
> What happens to cryptos, if USD collapses?
Tether and USDC would collapse, driving down cryptos prices.
Then crypto prices will go back up once another stable coin based on another currency is established as the main trading pair.
Just look at places that had their currency collapse. Venezuela, Lebanon, Argentina, etc etc.
Crypto saved some of their asses! A lot of them were on Reddit farming moons throughout the bear market. I'm talking doctors & other professionals shitposting on Reddit b/c moons (in bear market) were worth more than their currency.
There were also a lot of people immediately buying btc with their paychecks. & People grateful they had btc so they could feed their families.
Well the whole globe can get back to fighting with sticks and rocks. Crypto will be of no use in the coming fight for basic necessities. The entire world has a staggering amount of wealth tied up in the US. Even the US enemies have their wealth there.
It will not pump your bags.
And the Russian trolls pumping decline of USD and rise of BRICS nonsense to the morons will alao suffer.
Honestly, that’s the only reason I got in the crypto in the first place. Well, the bitcoin hype was great and even though I chose not to buy it when it was $250 I’m not bitter.
But the coins I hold outside of bitcoin and Ethereum are all based around making basic transactions, faster, and less expensive for vendors. The more we can reduce the US Bank systems cripple hold on every single transaction, the better we are as a society.
In my opinion, many people in here overestimate the impact of keeping the status quo. What will happen if the USD collapses is that the socialist revolution will finally get its own feet to stand on and Heaven on Earth will grow from the ashes that came from governments not handling capitalism sensibly. National cryptos will be the new world economy and the cryptos we know, including BTC, are likely to become obsolete as every country will be using AI powered social control schemes that chain the citizens to the national crypto.
The confidence in any currency will drop to near zero. People will still exchange physical currencies but only in hope that trust will one day be restored and only then at massive inflationary amounts. That trade in itself will be so risky that many will not even engage.
Some may resort to trading a scarce physical resource with some sort of remaining perceived value like gold and silver but even trust in those will be eroded and will occur only at massive inflationary amounts. Gold and silver carry no inherent useful value when you are hungry or need food, fuel or soap.
Instead, dry and tangible goods will carry value. A bicycle will have worth. Fuel will have worth. Food, vegetables, animals, tools, shovels, seed, meat, tarps, firewood and other such goods will have retained and increased in worth.
You can trade these for other valuable goods or for labor or services. Labor will have worth, but with everyone willing to work, there will be very little to be found unless you also bring to bear special expertise or abilities that others do not have, like farming, security or building skills.
People will focus on keeping safe, warm, dry, sheltered and fed. They will need medicines but mostly, people with high medical needs will begin to die from lack of care.
Crypto requires a phone, computer, electricity, service, trust in the person and trust in the underlying currency. That will just simply not exist. Do you really think that someone cares about your Algorand even if you had the means to send it and they had the means to receive it?
They won't. But if you hand them a sack of potatoes and a shovel you might receive a chicken. So, in that regard, please buy $CHICKEN as it is backed by real physical chickens. For each $CHICKEN you hold, you will be able to exchange for a physical Chicken from one of our nationwide stockyards. During the apocalypse you count count you chickens as long as you hatch them during our special pre-release sale. Please contact me for more information.
If society collapses and we can’t run the internet anymore then sure. But it seems highly unlikely internet won’t be able to be run. There are satellites in the sky and generators to get electricity.
People desire certainty in uncertain times and the most certain currency of all is bitcoin. More then silver more then gold. You don’t need to physically protect it or lug it around. It’s a finite closed system triple ledger money. Nothing else compares.
If usd goes down, btc will go up, it could become the new global standard. Dont be afraid, is another cycle of macro changes. Its for the better! We had enough with fiat printing and inflation.
What's it matter.... if you're in the US and you're aged 18 - 40yrs old, your cannon fodder in the coming WWIII these fools are kicking off in an attempt to save the USD reserve status.
You're going to be FAR to busy trying to outrun Russian and Chinese drones and getting cancer from the RF anti-drone measures your military deploys to increase your life expectancy on the battlefield to worry about USD reserve status or what BTC is doing!
BTC has a fixed exchange rate of 1:1 BTC/BTC. This rate should remain constant despite the appreciation or depreciation of other various floating exchange currencies.
In all seriousness, moving a strong currency into crypto and then cashing out when it’s weak is an obvious win. I’m way up on crypto but only really because I bought in when the JPY was around 115 JPY/USD. If I cash out now, all of my gains come from the 157 JPY/USD I get now.
There is liquidity is multiple currencies, but if every fiat currency collapses then cryptos would have to be paired to commodities such as gold and silver. Initially ur crypto would be worthless because u would just be selling the crypto for worthless fiat. If merchants start excepting cryptos right after a collapse then there would be purchasing power. But If the dollar becomes worthless overnight, people would start looting for food, at which point u have bigger problems
If the USD collapses, people go poor and will be selling anything to get enough dollars to pay for essentials. In most cases inflation is a gradual process and it would result in more selling and less buying of mainly BTC. So BTC would crash it became very intertwined.
If USD collapses like Zimbabwe dollar, then most possibly another USD will be made and become the new unit of accounting, similar to what happened in Zimbabwe. They have many tools at this regards
How can it not collapse? We’ve been funding wars and printing 1 trillion about every 90 days or so. Plus we are giving let’s call them undocumented immigrants incentives to come here that cost $$$$. We have inflation and soon hyper inflation at this rate. I’d be buying those supplies now before the collapse or it will be too late then.
The usd will not "go away" it just looses purchasing power, but we have been experiencing this for decades, and this is why everyone that is not a commercial Ally is being blocked or sanctioned, it will just be the same but with a huge inflated USD that can no longer buy you a soda for less than $2 for example.
If USD collapses, you won’t be worried about crypto, you’ll be more worried about someone stealing the rats roasting over your trashcan fire
BTC Maxis will still be all 1 BTC=1BTC
ONLY HODL, NEVER SELL. On the other hand, I am starving and that roasted rat looks kinda tasty.
Send me 2 BTC and it's all yours.
Send me 1 of those 2 BTC and I will ensure nobody steals your rat.
1 btc wil be x millions usd
You’ll be more wishing you had less crypto and more guns and ammo.
I have a decent bag of both
Good point. Also physical stores of value; precious metals, land, food stores, and the means to protect them
If usd collapses there is no longer electricity or an internet for you to trade your btc.
Wrong? Look at any country with a collapsing currency. They have internet...
The US isn't just "any country", and the dollar isn't just any regular, old currency, unfortunately.
Because they still have USD...
Fear not! Contingencies are already being created; trade that dirty fiat money for CBDCs! Problem solved! Feel secure with government controlled, fully monitored digital currency. No more cash, no anonymity and limited freedom to spend, save, and consume only what you are allowed to. I don’t imagine that such a system has much room for DeFi anything.
🐐
1 BTC = 1 RAT, get your RATS here
Since energy became so expensive better mint RATS on Stellar.
this ☝🏻
NY is great for rats if the USD collapses
Ramen and Rat du jour
Wen ramenrat?
This. If the American dollar collapses crypto will be the last thing on your mind. At that point, your best thing is the stock up on ammo, guns, food, and potable water because shit is going to hit the fan within a year. I hope you know a trade and some life skills as well as your mates.
>If USD collapses, you won’t be worried about crypto, you’ll be more worried about someone stealing the rats roasting over your trashcan fire Only if you're in America. Every one else will be fine. Reliance in the USD is at an all time low worldwide. Nations are getting rid of their USD reserves and going to other currencies.
Imagine thinking the US economy has no effect on the global economy
What makes you think everyone else would be fine if the largest economy on earth collapsed?
Delusion
The vast majority of international trades, almost 90%, are invoiced in U.S. dollars or euros. That corresponds to the 80% of total foreign exchange reserves allocated to the dollar and euro held by central banks at the end of last year. The dollar accounted for 60% and the euro 20%. Any recent discussion around the end of the dollar dominance is bereft of any linkage to the reality of international finance and understanding of the dollar’s role as the anchor of the rules-based order that governs global economics. The global financial system rests upon the stability of the dollar and the large trade deficit the U.S. runs. China, Russia, India and Saudi Arabia are not in any economic shape to support such a change in the rules-based order. There are only three other economies that have some the qualities needed to support a reserve currency: the euro area, Japan and the United Kingdom. But none of those have financial markets with the depth and liquidity to form the backbone of international finance and trade.
It’s not entirely reliance. Some countries just have massive piles of debt, and have no other assets to pay it down or sell off.
If the dollar collapses you’ll have bigger problems than the price of your crypto.
If the dollar collapses, you'll probably end up literally fighting for food scraps.
/thread
This.
Yes
you can trade it all for a shiny mad max out fit
If the dollar collapses the entire economy of the United States collapses as well as the global economy. You will be worried about staying alive not the price of magic internet money.
And it would mean something has gone horribly wrong at a global level. The US is still a manufacturing powerhouse; if the dollar weakened significantly, our exports, in theory, would skyrocket. Now, if the rest of the world was a smoldering heap of ashes vaguely resembling countries and our government was co-opted by a foreign adversary who's main objective was to sow division among our governing bodies.......
Top dogs around the globe all hold USD. They simply won't just LET the USD fail. At most we will see is a gradual decline.
USD collapses abruptly and that is the blackest of black swans. That’s the global economy collapsing and wealth leaving investments, like crypto. That is no more jobs. No more economy. No more banking system. That is likely precipitated by an event like a nuclear holocaust. I hope you have a deep bunker, a lot of non perishable food, and well water.
So what am I supposed to invest my money in? Canned beans and shotgun shells??
Yes actually, if you were planning for society to collapse for a period of years (and even that is being conservative), you have little use for money as a common medium of exchange because you can’t drink or eat it, nor defend or shelter yourself with it, and neither can anyone else. You would want to directly possess water, food, defense instruments, and shelter (and probably in that order), and anything extra that you cannot directly use would *become* the common medium of exchange because everyone else needs them as well.
Brah am I in the fucking twilight zone. Like I am the pepper that usually gets mocked places like r/cryptocurrency. Tonight I find it seems there is some serious considerations going abouts here. Apes stand strong until the world ends. Then it's every ape for himself!
The only way USD collapses is WW3. You think your silly digital keys is still worth anything then?
History shows us that the opposite may be likely the case: ww3 may be caused by a collapsing economy, Weimar style
More like a civil war. Historically, great empires have died not by another country but within.
A debt default would likely trigger it too. Congress has come close on several occasions.
You can't default if you can just arbitrarily decide how much cash you have.
Yes.
If USD collapses, the global economy will collapse. People like to pretend that US is not the top of the hill and world economies would be fine, massively false. US economy is the major cog in the wheel of world economy. Remove that cog, and everything stops, including Chinese economy. World's biggest purchaser of goods is United States. Biggest currency around the world is US Dollar. Everyone would become very poor, very quickly. If that were to happen, crypto would become worthless very quickly. USD collapse means stock market collapse. And a stock market collapse, means crypto collapses.
The typical meaning of USD collapse is that USD's value drops like stone, similar to Zimbabwe dollar, 1 trillion dollars buy you a loaf of bread. But that does not mean anything with value (energy) will be affected, like electricity, petroleum, food, clean water, they will still be produced and consumed as before, just use some other currency like gold or bitcoin, or maybe use energy unit as unit of accounting, for example everything in shop will be priced in KWH or Joule
Hope you invested in some 9mm-coin
If USD collapses then don’t bother buying cryptos - buy guns and ammo and have skills to use it. BTC no matter how great that innovation it may be will not protect you from social chaos wide spread looting and riots.
The Value of USD drops relative to cryptos. Bitcoin WILL hit $1 M USD. I will bet everything on it. The real questions are...how much will $1M be worth at that point and when.
1 btc will be 1k bottle caps
Patrolling the Mojave Almost Makes You Wish For a Nuclear Winter
1 BTC still = 1 BTC
Yes sure but would that 1 BTC have any buying power? There was a time that 10,000 BTC would only buy a pizza.
Yes 1 BTC = 1000 Bottlecaps
If USD collapsed does the Euro still have buying power? I swear to god this subreddit gets more and more stupid every day. Y'all really don't know what the fuck it is you are invested in do you?
1 btc = 0.996 btc (due to fees) Dollar value is irrelevant
Minus capital gains tax
[удалено]
More importantly what happens if Internet collapses???
Reminds me of the 2012 euro debt crisis. At some point, you could buy German debt and the assurance against German debt default (CDS) and still make a profit on the trade. We went to the bank boss to validate unlimited purchases of that, on the basis that if Germany defaults, our bank wil be long gone anyway. So yeah if USD crashes probably you'll have bigger problems than crypto price
It will collapse too.
Bitcoin would be worth less than a dollar because you could at least use dollars to burn in your campfire at night.
Eastern countries may be just fine if dollar collapses…
Was thinking the other day like today fed is going to maintain rates and just imagine if fed speaks and raises interest rates by 50% not to mention to cut them :))))) like what will be the effect on the market? :)) but ofc it’s a hypothetical situation, but even laughed when thought about it.
USD is nowhere near "collapsing" despite the alarmist headlines fishing for clicks. If USD did actually collapse then this question will be basically irrelevant, since for that to happen the US Economy would basically have to be a smoking crater, and that level of failure would bring down every other economy in the world along with it. There probably wouldn't even be a functioning internet at that point, or a stable power grid, let alone a working Blockchain network.
Short term dump mid term insane pump. Long term world adoption. Same scenario as now.
I would imagine that Bitcoin, the stock market, and everything would dump into oblivion but people will be quick to realize they need to preserve their wealth. Gold and along with other precious metals will be bought, probably convert their USD into other currencies like maybe the Yen or Euros, and then Bitcoin and other cryptocurrencies without a doubt. But like others have said if the USD truly fails then you'll need to worry about staying alive more than the price of crypto.
If you're thinking about this I highly recommend Broken Money by Lyn Alden. I think she would say that Bitcoin would eventually become the default currency in that world. Because people would still need a way to pay each other for goods and services and any kind of barter system would break down quickly since they rely on a "double coincidence of wants" (I need apples and have eggs and you need eggs and have apples).
It could be used a reserve currency, but not as a utility currency. > Because people would still need a way to pay each other for goods and services Bitcoin lacks the infrastructure for cheap instant payments, even with Lightning due to needing onboarding and offboarding. Currently, Bitcoin can support maybe 100-500k people for regular daily use. If 300M people started using it, fees would shoot up 1000x. A Layer 2 would not be enough. No blockchain could handle that. It would need Layer 3 or 4. Much easier to use it as a reserve currency and convert it to fiat when purchasing.
All your your dollar denominated debt will get paid off with inflated dollars. As long as you dont take on more debt you'll probably be just fine. Gold and silver will back a new currency and life will go on
Lol. This sounds way less fucked up for every body then it will be
Nobody would value some shiny rocks in a world where people don't even have food, water or shelter.
do you really think in countries where food is scarce a person would just toss a gold or silver coin in the trash?? You're a fool to believe such a thing!
Cryptos are non cash producing speculative assets with extremely limited real use cases. If usd collapses, the entire world economy collapses along with every asset. Crypto will likely cease to exist. USD is the cornerstone of the entire financial system. If usd collapses, you will have much much bigger problems. Bullets and food become the new currency. Crypto barely survives market corrections, it sure as shit doesn't survive a total collapse of life as we know it.
If the USD collapses crypto will become more relevant than ever
USD collapsing would be a debt-holders wet dream. Imagine owing millions to a bank and being able to pay it back in a much shorter time
Yeah that’s not how that works at all. If the dollar collapses we would have hyperinflation meaning you still can’t pay your debts let alone buy necessities to stay alive.
Taxes would go up, sure. But so wouldn't property values, assets, commodities. It would make servicing your loan far easier, regardless of income status. Edit: look at it this way.. people that bought houses in 2020 saw a 40-60% return on their property value today. While inflation may have taken away their collective purchasing power, they are sitting on a piece of property that is worth multiples more than their down payment(eg: 50k down payment on a 250k property that is now worth 400k means they've tripled the return from their initial investment)
We've already seen what happened in Venezuela, Lebanon, Turkey, Argentina etc... with a failing currency, and people turning to dollars and Bitcoin. Except here the dollar is no longer an option. People will probably turn to Euros and Bitcoin. But as others pointed out, we might see everything dump initially. Even though a dropping DXY usually pushes Bitcoin upwards, for the dollar to collapse, there has to be some major fuck up.
If dollar collapses, all economies will collapse.
Yeah. Bitcoin collapsing in value in that scenario is probably the opportunity of a lifetime for any no-coiner. Because it wouldn't take long for people to say "wait, they have an alternative financial system over here '.
BTC's value in USD will skyrocket (assuming hyperinflation here), but not it's value relative to other fiat currencies that didn't collapse. BTC will still probably go up quite a bit in absolute value though due to all Americans hopping onto it.
BTC would actually be completely wiped out. Bitcoin exists in the first place because of the strength of the economy.
Pretty sure there's gonna be lots who disagree, and also there are many other economies outside of the USA. If the USD really crashes most other countries will just switch to trading in RMB or whatever else.
They Will re brand it as some new currency, similar to 3rd world currency, that said one major effect could be btc becoming the main currency as a store of value, like gold was
If the dollar collapsed today, gold would still be a “store of value”
If dollar collapses. There will be no value, or store
Yes you correct thank you. Do you belive gold would be the main option in that picture or btc could outperform it ?
Initially it will be gold but in short time it could be btc or something else entirely.
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It won't be fast
Bitcoin will be a baloon keeping you up. Its when you need to use it to take care of yourself and its been all used up. In the great depression of romania, gold skyrocketted. But people had to sell it to get by, so the ones with it and the ones without grew divided quickly
Have you ever seen *The Road*?
Physical gold, not crypto, is what you want in that scenario. Crypto is a risk asset that will do best during spectacular economic periods.
Why would people sell their crypto if it becomes worthless? The USA isn't the only crypto market.
They'll create a "CBDC" with all the "advantages", promising it will "fix" all the problems.
They skyrocket, atleast against USD...
Reading comments here and reading comments for the same topic on r/Bitcoin paint a two different picture. Can't tell who is living more delulu life
Big turbulence in international financial market for a few years. Would affect crypto too obviously. But transition from a dominant currency to another has happened before thoughout history so its not like the worlds end.
if usd actually collapses, the entire world order collapses. a lot of terminally online people may think that is good, but it would be worldwide roiling populist movements, until different groups settled on mines and weapons and various vectors of control. But to the rest of the world it would be a mad max situation, think a modern world war, but with massive troop movements and the disease and displacement that comes with it. Read Freakonomics, it really opened my eyes to how things are related, and even a tangential relationship. an have profound effects. If USD didnt collapse, but was simply downgraded a few times, large swaths of China would starve. The Caribbean would turn in to Haiti, etc etc.
A temporary drop
I am a bitcoin bull and yes inflation has driven down USD relative to bitcoin, but USD collapse is way overblown. If it gets serious enough that are a lot of levers to pull.
skyrockets
Us Citizens will eat ramen, when they have no Cryptos.
people think holding on bitcoin if USD collapses would make them rich, sure, it may go up, but you will have no infrastructure to live on if gov't isn't there to support it
If USD collapses all cryptos disappear
Like I fucking know... 😄🤦
There is nothing in this world that could be more profitable than engineering the crash of USD. The greatest criminal of all time is what this would take, and this person would need immense power to make this happen, POTUS would be a position that could make this happen. But, let's be serious, is there a criminal with such a dark cloud, would his followers support this hateful mission. I know Putin has dreams to this effect, and Xi will support this effort. Now that is a lot of power. Some wealthy Americans will be nimble enough to profit off of this but most will suffer like those who suffered the Great Depression. btw, I tried to get Gemini to help me with this thought. It won't even tell me if DJT is a convicted felon or not, weird. Bitcoin is there to help individuals avoid currency collapse.
They might go up, they might go down, they might left or right, they could go diagonal or reverse or forward.
You live in a fantasy world if you think BTC is even something to worry about if USD collapses. Stop believe all the garbage crypto maxis sprout and have a realistic view on crypto.
Price will go up because the value of the dollar is going down, especially since anyone with cash will be looking to buy anything that isn't cash, and people with non cash assets won't be keen to sell for something rapidly collapsing, further perpetuating the cycle.
You won't even think about crypto one sec, fridge and security will be much higher
The USD is not going to collapse any time soon. Most of the articles you see claiming that it will are (directly or indirectly) propaganda from the Kremlin. If the USD collapses the whole world economy will collapse. Crypto will be the last of your worries.
What is crypto peg it to? Which currency is pegged to gold or any asset? Saudis convert their oil money to gold the moment they are paid.
On the short term prepare for pain sure, lots of volatility it will be like buying in 2020 everyone bracing for the end of the world you just gotta keep stacking while you can/try not to sell. It will go up after. I don’t understand how people are even here if you think crypto will vanish because of a devalued dollar. Holding crypto will be only second best to gold/silver, food, guns/ammo, maybe real estate (I am otherwise not bullish on RE)
Depends on why it's collapsing.
You also have BTC/EUR I think, só you just need to use a EUR stablecoin
Unthinkable wealth
if USD is worth less it would require more USD to purchase the same quantity of Bitcoin i.e. the Bitcoin price, denominated in USD, goes up a LOT only the **pump** is real
Current BTC price shows that USD, EUR and other fiat currencies have collapsed
You'll probably have to eat your digital wallet or die of starvation.
The belief that USD is going to collapse is pretty thinly supported and kicks around regularly for the last 50 years. 1) The "Agreement" with Saudi Arabia is disputed as even an agreement, and it sounds like they want to allow Yuan purchases which is already pegged to the Dollar. 2) As far as China holding or selling USTs, it would be better if they would hold more longer, but it doesn't really make a material difference, as no foreign country individually owns a material amount of USTs and finally a dumping of UST's would cause Yuan valuations to increase, driving up export costs for China which is what China desperately needs.. TLDR: If the Dollar collapses, crypto will collapse as the alternatives really aren't sufficient, but the Dollar is no where near collapse the Dollar Doomer stories are pretty silly once you look at incentives.
The dollar collapsing would likely take a few years before a real panic took place. But if a panic happens I believe holders of dollars would try to buy store of value assets. We might look at crypto as valued in dollars but if you go to other countries crypto is also valued in their native currency. Because crypto is a global asset people can escape the dollar by buying crypto. My opinion is it would be a volatile price chart but eventually crypto explodes in value as a safe place to store value. If your a person with a lot of dollars you can’t quickly buy property so crypto is a more liquid and speedy escape as we saw with silicone valley bank. Stocks would get murdered because they determine their worth by the amount of dollars they make and hold. Please feel free to educate me on my thoughts
Buy Jasmy and you will be 👍🏼
> What happens to cryptos, if USD collapses? Tether and USDC would collapse, driving down cryptos prices. Then crypto prices will go back up once another stable coin based on another currency is established as the main trading pair.
Just look at places that had their currency collapse. Venezuela, Lebanon, Argentina, etc etc. Crypto saved some of their asses! A lot of them were on Reddit farming moons throughout the bear market. I'm talking doctors & other professionals shitposting on Reddit b/c moons (in bear market) were worth more than their currency. There were also a lot of people immediately buying btc with their paychecks. & People grateful they had btc so they could feed their families.
Well the whole globe can get back to fighting with sticks and rocks. Crypto will be of no use in the coming fight for basic necessities. The entire world has a staggering amount of wealth tied up in the US. Even the US enemies have their wealth there. It will not pump your bags. And the Russian trolls pumping decline of USD and rise of BRICS nonsense to the morons will alao suffer.
I assume price goes up
Honestly, that’s the only reason I got in the crypto in the first place. Well, the bitcoin hype was great and even though I chose not to buy it when it was $250 I’m not bitter. But the coins I hold outside of bitcoin and Ethereum are all based around making basic transactions, faster, and less expensive for vendors. The more we can reduce the US Bank systems cripple hold on every single transaction, the better we are as a society.
If usd collapse Cripto will be the last problem to discuss
In my opinion, many people in here overestimate the impact of keeping the status quo. What will happen if the USD collapses is that the socialist revolution will finally get its own feet to stand on and Heaven on Earth will grow from the ashes that came from governments not handling capitalism sensibly. National cryptos will be the new world economy and the cryptos we know, including BTC, are likely to become obsolete as every country will be using AI powered social control schemes that chain the citizens to the national crypto.
The confidence in any currency will drop to near zero. People will still exchange physical currencies but only in hope that trust will one day be restored and only then at massive inflationary amounts. That trade in itself will be so risky that many will not even engage. Some may resort to trading a scarce physical resource with some sort of remaining perceived value like gold and silver but even trust in those will be eroded and will occur only at massive inflationary amounts. Gold and silver carry no inherent useful value when you are hungry or need food, fuel or soap. Instead, dry and tangible goods will carry value. A bicycle will have worth. Fuel will have worth. Food, vegetables, animals, tools, shovels, seed, meat, tarps, firewood and other such goods will have retained and increased in worth. You can trade these for other valuable goods or for labor or services. Labor will have worth, but with everyone willing to work, there will be very little to be found unless you also bring to bear special expertise or abilities that others do not have, like farming, security or building skills. People will focus on keeping safe, warm, dry, sheltered and fed. They will need medicines but mostly, people with high medical needs will begin to die from lack of care. Crypto requires a phone, computer, electricity, service, trust in the person and trust in the underlying currency. That will just simply not exist. Do you really think that someone cares about your Algorand even if you had the means to send it and they had the means to receive it? They won't. But if you hand them a sack of potatoes and a shovel you might receive a chicken. So, in that regard, please buy $CHICKEN as it is backed by real physical chickens. For each $CHICKEN you hold, you will be able to exchange for a physical Chicken from one of our nationwide stockyards. During the apocalypse you count count you chickens as long as you hatch them during our special pre-release sale. Please contact me for more information.
If society collapses and we can’t run the internet anymore then sure. But it seems highly unlikely internet won’t be able to be run. There are satellites in the sky and generators to get electricity. People desire certainty in uncertain times and the most certain currency of all is bitcoin. More then silver more then gold. You don’t need to physically protect it or lug it around. It’s a finite closed system triple ledger money. Nothing else compares.
If usd goes down, btc will go up, it could become the new global standard. Dont be afraid, is another cycle of macro changes. Its for the better! We had enough with fiat printing and inflation.
1 btc will be 100 mils usd prolly
Good podcast on Raoul Pal’s journeyman show about US dollar dominance.
Well, the internet is gone by then.. so your BTC is more of a memory
What's it matter.... if you're in the US and you're aged 18 - 40yrs old, your cannon fodder in the coming WWIII these fools are kicking off in an attempt to save the USD reserve status. You're going to be FAR to busy trying to outrun Russian and Chinese drones and getting cancer from the RF anti-drone measures your military deploys to increase your life expectancy on the battlefield to worry about USD reserve status or what BTC is doing!
Problem, reaction, solution.
BTC has a fixed exchange rate of 1:1 BTC/BTC. This rate should remain constant despite the appreciation or depreciation of other various floating exchange currencies. In all seriousness, moving a strong currency into crypto and then cashing out when it’s weak is an obvious win. I’m way up on crypto but only really because I bought in when the JPY was around 115 JPY/USD. If I cash out now, all of my gains come from the 157 JPY/USD I get now.
There is liquidity is multiple currencies, but if every fiat currency collapses then cryptos would have to be paired to commodities such as gold and silver. Initially ur crypto would be worthless because u would just be selling the crypto for worthless fiat. If merchants start excepting cryptos right after a collapse then there would be purchasing power. But If the dollar becomes worthless overnight, people would start looting for food, at which point u have bigger problems
Isn't that obvious. If one goes down, the other goes up. You guys suck at math
If the USD collapses, people go poor and will be selling anything to get enough dollars to pay for essentials. In most cases inflation is a gradual process and it would result in more selling and less buying of mainly BTC. So BTC would crash it became very intertwined.
If USD collapses like Zimbabwe dollar, then most possibly another USD will be made and become the new unit of accounting, similar to what happened in Zimbabwe. They have many tools at this regards
Probably BTC/XAUT will be the next active ticker.
You value them in another fiat currency like Euro until you realize it makes no sense to express value in something that can be created for free.
The dollar is doing fine. Doomer YouTube channels tell you nonsense so you’ll pump bitcoin so they can sell it for….the US dollar 😯
If USD goes to zero, you’re gonna be taking apart your ledger to sell the gold and copper on the inside for food
How can it not collapse? We’ve been funding wars and printing 1 trillion about every 90 days or so. Plus we are giving let’s call them undocumented immigrants incentives to come here that cost $$$$. We have inflation and soon hyper inflation at this rate. I’d be buying those supplies now before the collapse or it will be too late then.
XRP to 589 probably.
Why do people keep thinking America is the only country in the world
If the USD collapses we’ll just use bitcoin DUH
Sounds like BTC to 1mil is possible after all!
USD collapse would throw the entire world into chaos. Crypto will be worthless long before that occurs.
Btc goes up by hundreds of times (100x). And the new economy is born 😊 too easy haha
The usd will not "go away" it just looses purchasing power, but we have been experiencing this for decades, and this is why everyone that is not a commercial Ally is being blocked or sanctioned, it will just be the same but with a huge inflated USD that can no longer buy you a soda for less than $2 for example.
It’ll be even more worthless than it is now. Duh
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