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RE: How Would a Financial Crisis Affect Cryptocurrencies? Are We Prepared?
It depends how many people see the crash coming, anyone in banking will be piling their assets into crypto before the crisis, anyone with large amounts of money will be piling money in early in the crisis.
As ususal it will only be the average wealth and poor people who will get screwed over.
its just that it has always been like that. and not many people are fully aware of the crisis. even if the are aware, they dont seem to pay much attention here.... its true that poor people will get screwed.
Crypto will definitely be an option but remember Gold and silver are not replaceable by fiat or cryptos. I think Crypto will take time to go mainstream. Once it is mainstream then in time of crisis, it will probably make the crypto market go extremely bullish. Crypto is not the answer to all economic problems. It is tool like fiat currency, the difference is one is centralized, the other one is not.
crypo is really, really on its veeeery early stage... it will take time, a lot of it actually, for it to even go anywhere near mainstream. but it is for sure that it will eventually become mainstream. thats where the world is heading toward now....