How resilient is Bitcoin to the looming pending financial crisis?

By | August 20, 2012
Bitcoin goes mainstream; introduces credit cards.

In two months you can purchase real goods and services with your Bitcoin credit card, anywhere that accepts a normal credit card. Or: Bitcoin has made the jump to becoming a viable replacement for central bank controlled currency. But it leaves a very big open question: is it resilient enough to become a currency of merchantile trade in the face of the looming economic meltdown?

1. Will the big banks respond?
I'd assume yes. A alternative currency that they do not control means that the current aristocracy is at risk – so either they need to infiltrate and gain control of it, or get rid of it by legislated means.

2. Can bitcoin provide a stable alternative against algorithmic trading?
I don't know how Bitcoin is regulated – other than by supply and demand – in order to be able to determine how much of an effect money laundering / forex techniques might play on Bitcoin transactions. I do think, however, that Bitcoin is not immune to the 'black swans' of the current markets, because Bitcoin is not considerably different in trading nature than a typical market.

/via +Wayne Radinsky 

6-8 Weeks Until Bitcoin Debit/Credit Card, says BitInstant – Coding In My Sleep
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3 thoughts on “How resilient is Bitcoin to the looming pending financial crisis?

  1. Christopher Cooke

    Just how big is the market for bitcoins? Because from my own personal experience, next to no one I know has even heard of them, and those that have are technocrats who don't use them.

    There's no threat here to the establishment, and they'll most likely treat it that way until, in the exceedingly unlikely chance that it even happens, there is.

    Reply

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