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Other Bitcoin price crash

Discussion in 'General' started by Arthur, 23 Nov 2018.

  1. edzieba

    edzieba Virtual Realist

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    For both, removal of liquid assets (I assume you mean cash/currency) would itself tank the value of that currency (same as selling off of stocks drops the value of that stock). Illiquid assets would need to be exclusively valued in fiat (e.g. government bonds/gilts mainly) to remain a backing for that fiat, otherwise the asset could equally be valued in another currency (e.g. your UK property could be valued at £250,000 but you could sell it for 5840 tons of coal if you wanted) if that fiat tanked. This exact situation has been observed in cases of hyperinflation.
     
  2. Anfield

    Anfield Well-Known Member

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    Yes, with both it would tank the value.
    But with fiat you have a reason to avoid tanking it as it affects things beyond the currency / cash itself, with crypto that reason is still (mostly) missing.
     
  3. edzieba

    edzieba Virtual Realist

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    Welp, the sell order I left open from over a year ago was just triggered, so by Murphy's Law of Technical Analysis the price will now only continue to rise.
     
  4. IanW

    IanW Grumpy Old Git

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