2 ms·
Also, in case of an economic depression, cryptocurrencies will crater. It has not tested really yet, but I would bet on them sinking to near $0 in that case. Ti
by tluyben2 5y ago
Also, in case of an economic depression, cryptocurrencies will crater. It has not tested really yet, but I would bet on them sinking to near $0 in that case. Time will tell, but I'll be in gold anyway when the bank run comes to exchange cryptos to something to buy actual bread.
- qwerty456127 5y agoI believe there is a chance that cryptocurrencies will crater but I would not be so sure they will. Cryptocurrencies have liquidity/value backed by black and gray markets (not entirely, but in a big proportion) which will always be there (and probably even boom) when the white markets crash. Cryptocurrencies also can't be emitted in unlimited volumes at just the feds' will so are immune to inflation which tends to skyrocket for fiat currencies in events of huge crises. It may even happen that in such an event some states will address booming inflation by officially making cryptocurrencies legal tenders.