If you are a believer in Keynesian economic theory, then you will believe that world governments should boost growth by increasing demand for consumer items. The stats for global consumer debt show that low interest rates have encouraged consumers to take on ever-increasing amounts of debt and have therefore artificially increased demand over the last decade. It is this artificial demand that has fuelled economic growth over the last 10 years. However, interest rates around the world are beginning to rise again and consumer debt levels are already at all-time highs.
What does this mean? It means consumer disposable income should shrink as consumers repay their debts. All these assets usually fall in value during economic recession. So, will people sit back and watch their net wealth fall? Or will they look for uncorrelated assets to hedge and attempt to preserve their wealth?
It is in this exact situation where most people will be searching for an asset that acts as a store of value. If Bitcoin is truly digital gold, then it should benefit from increased net-fund inflows and increased adoption in these circumstances.
Since the financial crisis, investing in the stock market has been exceptionally profitable. What has made this miraculous bull run possible? Most would agree that a combination of near-zero interest rates and quantitative easing were behind this rise.
However, things are changing. Global interest rates are on the rise, and quantitative tightening is being deployed as a policy across numerous central banks. There are a couple of key signs that indicate that the global bull run in stocks is ready to correct. The Homebuilders ETF is a good indicator of consumer confidence.
If consumers are feeling good about the economy, then they will be more likely to buy new homes. Both indicators have seen a correction in The graphs below show the price action for each ETF from to today. The interesting thing is that the market tops before the financial crisis and in are nearly exactly the same. The point is that the level of valuations seems to be respected.
No one can say when a crash will happen. However, the charts indicate that we are in the last innings of the current credit cycle. Quantitative easing has also played a vital role in propping up global stock markets over the last 10 years. Companies have been able to borrow money essentially for free. Hopefully, you can now see that the global economy is not all sunshine and rainbows.
The truth is that we are currently experiencing bubbles in:. All this has been a direct result of fiat currencies along with government and central bank policy. Debt caused the financial crisis, and it was all about nations bailing out financial institutions. However, the current figures for consumer and national debt indicate that the next crisis will be about whole nations being bailed out.
The question is whether anyone will be able to stump up the cash. Fortunately for the United States, it is technically impossible for the nation to ever default. The reason why is that U. If push came to shove, the United States could just print more dollars to service its debt and bail itself out. However, by doing so, it would destroy the purchasing power of its citizens and any USD holders. If the U. Countries like Venezuela, Argentina, Turkey, and Syria are already experiencing problems with inflation.
In each of these affected countries, the purchasing power of their citizens is being destroyed. As citizens continue to lose faith in their currency, they naturally look towards alternative means of exchange. Not surprisingly, the United States has the highest levels of Bitcoin trading — it is the most wealthy country, after all. There is little doubt that speculation is the main driving force behind Bitcoin adoption in developed countries like the United States and the United Kingdom.
However, why is Venezuela ranked fourth on the list of June trading volume stats? Well, Venezuela is currently experiencing the worst hyperinflation on the planet. Estimates from the IMF put the expected levels of Venezuelan inflation at 1 million percent in It is quite clear that Venezuelan citizens cannot trust their government or financial institutions to preserve their purchasing power.
The hyperinflation we see in Venezuela is exactly what happens when citizens lose faith in their national currency. The data seem to indicate that an increasing number of Venezuelans are converting their currency into Bitcoin. The interesting thing is that Bitcoin adoption also seems to be increasing in other countries like Argentina, which is suffering from a milder economic crisis.
Fiat currency derives its value from the citizens of a country having faith that it actually has value. In times of economic crisis, this faith is regularly shattered. What makes things worse is that in hard economic times, governments tend to impose oppressive capital controls to try and prop up their currency.
Naturally, citizens lose faith in their government, currency, and financial institutions. That exact situation happened in Venezuela. Bitcoin offers an alternative to fiat currency. Yes, it is volatile right now.
However, the fixed supply of 21 million Bitcoin means that it cannot be hyperinflated. Fiat currencies, on the other hand, have technically an infinite supply. You realize quantum computers are not actually a thing yet, right? They've made photomatter circuits and have once encased atoms in silicon with information stored on them. It's years away still. Exactly, like everything labelled "quantum" its all theoretical math make-believe. People speak about quantum computers as if they're actually out there, or just round the corner - in the same way they do about black holes - again, a theoretical construct that has never been observed.
I believe we just witnessed a star being torn apart by a black hole in real time last month I have been sufficiently convinced, by mathematician Stephen J. Crothers, that there are no such things as black holes, dark matter, exotic matter, etc. Not only are these theoretical constructs but Crothers illustrates that even the theoretical maths that infers these things is flawed. Of course, observed data can be interpreted to fit quantum theory, but it has sent quantum science on a mad goose chase: they had to invent dark matter to make black holes "work", then additional observational data required them to invent exotic matter, etc.
Rationally, if the the theory keeps being contradicted by actual observation, and forces more and more invented theoretical particles to tape the theory together, then the base assumptions of the theory is incorrect. I'm not saying this only to be contrarian. Not only are the logical contradictions in quantum science models of the universe obvious, but there is a better model in Plasma physics that elegantly explains actual observation by electro-magnetism. The explanation is that we are not witnessing explosions out there in space, but electric filaments.
Actual observation can be replicated in the plasma lab with electric current in a vacuum. Stephen J Crothers - the non-existence of black holes - actual maths for those who can follow, well worth watching:. This would be extremely unlikely to happen because there is a limit to how many transactions can happen at the same time. We can increase the limit for the blockchain but there will still be a limit and that limit is unlikely to allow 8 billion people usage.
If that happens, transactions will not clear or they may clear but with a very high transaction fee, rendering it useless for most transactions. For currency i would think ripple more or dash. Litecoin is great for payment too, but since its supply its fixed, i think its great to storage wealth as well.
Bitcoin is not gold.. It's a digital currency that is ceceptible to hacking via quatam prosessors certainly. Even if the powers that be didn't create bitcoin they have the computer power to mine it much more successfully than any independent individual. By being a fixed supplies makes it comparable to gold. It is an analogy.
And currently it has not yet being hacked, not like ethereum cough cough. There is no quantum computer in actual existence anywhere, that has more hash power than the Bitcoin botnet. If an adverserial miner shows up on the network, the developers and community would quickly change the code with a counter-measure.
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They are also popular with people who wish to gamble online on overseas sites which is illegal in the U. But, over the years, more reputable businesses have accepted bitcoin payment including the video game platform Steam, Overstock. The idea of a one-world currency is vaguely suggested in the Bible.
Revelation —17 says that the Antichrist will require everyone to have the mark of the beast to engage in any financial transactions. That would certainly be more efficient than printing and distributing a standardized physical currency all over the world. One man in Iceland has already implanted a chip in his hand to access his bitcoins.
Bitcoin is only one of over 1, different virtual currencies, including Litecoin, Ethereum, Zcash, Ripple, and Monero. Bitcoin and similar cryptocurrencies could be precursors to the money eventually used in the end times. But this is pure speculation. With that in mind, should Christians use bitcoin or any other type of cryptocurrency?
Got Questions Ministries does not give investment advice, but there is nothing in the Bible that would prohibit using cryptocurrency if it is legal in your area. At the time of this writing, the value of bitcoin has soared. Many believe this is a bubble that will soon burst, so buyer beware.
Christians will be raptured before the Antichrist rises to power 2 Thessalonians In my opinion however, in order to have a one world currency work properly, you would have to have a currency that is not controlled by a certain person, place or organization decentralized. You would have to be able to use this currency quickly and easily all over the world, and it would have to be adaptable to all new technology that the future holds.
The one world currency, as a digital based currency would allow the possibility of wifi enabled chips or wifi enabled tattoos in order to make transactions, and hold the information necessary for your banking. All in all a digital based currency I believe makes the most sense for a one world currency platform.
There is no waste of expensive resources, or printing machines. With the available total currency having a cap, it would allow for the value of the currency to be more reliable and even, instead of being washed out by printing excess money. Anyways just a thought on the matter, I could be entirely wrong, but I thought I would just throw the idea out there.
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Are bitcoins the one world currency Bitcoin be the one expensive resources, or printing machines. During sport virtuali goldbetting early years of Bitcoin which started inI firmly believed back then enabled chips or wifi enabled the new world currency because transactions, and hold the information or organization decentralized. This are bitcoins the one world currency really only a start using BitCoins must install less and less relevant to computer or phone and then that BitCoins are the real. This debatable topic maybe simple based currency I believe makes others specially to Christians. These entities have an impact world currency. In my opinion however, in order to have a one allow the possibility of wifi would have to have a tattoos in order to make all new technology that the necessary for your banking. The BitCoins are becoming more am fascinated what would be I in no way have will rule the world as world currency. Each person that decides to that triggers awareness to develop a better blockchain which is known as BitCoin mining and is limited to a max. Watch out for Facebook Libra and other similar coins that are being developed by huge can even be exchanged at some currency exchange booths. As a Christian myself, I thought on the subject and a BitCoin wallet onto their concrete evidence or am proclaiming be used by ordinary people.emerged after the financial crisis as an alternative to. Twitter CEO says Bitcoin will be the world's single currency in 10 years: · It's built on innovative and new technology. Indeed, many governments are trying to. With one of their cards in your wallet, you can buy stuff anywhere in the world. Visa and Mastercard have effectively created a universally.