Bitcoin Will Be The “Escape Hatch” During Imminent Global Recession

by | Apr 16, 2019 | Headline News | 13 comments

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    Bitcoin may be a way out, or “an escape hatch,” as put by ShapeShift chief executive and crypto entrepreneur Erik Voorhees. Bitcoin may be the best way to provide people with a lucrative way to prepare for imminent global recession and collapse of the debt-based system.

    Bitcoin is the sensational decentralized cryptocurrency that could be the answer to central banking – which has caused all of the recessions in the recent past. The economy’s outlook is becoming so horrifying that Ray Dalio, the co-founder of the world’s largest hedge fund, Bridgewater Associates, recently drew eerie parallels between today and the Great Depression. In a comment made at Davos, the world-renowned investor explained that from 1929 to 1932, there was a lot of “printing of money, and purchases of financial assets,” much like today.

    And he isn’t the only one who thinks we could all live through another depression. Peter Schiff, infamous for his uncanny ability to call the Great Recession before the media’s talking heads did, also believes another Great Depression is coming down the pipes, and this one will be worse than the last.

    Voorhees took to Twitter to declare that Bitcoin is the answer since economists and central bankers are “no longer pretending” that they could prevent a recession they ignited anyway.

    This entire system the central banks have crafted for us will all come crashing down at some point, and decentralization will be the key to ensuring it never has to happen again.  For all intents and purposes, the overall economy seems to be doing better than ever, just ask the mainstream media. But that’s all happening while certain fiscal and economic indicators aren’t looking all too hot.

    One of the biggest concerns is the global debt crisis. Debt across the board, especially sovereign debt, is passing all-time highs on a daily basis. In fact, since 2008’s fiscal debacle, the nominal value of all forms of debt has increased by dozens of trillions of dollars, as central banks across the globe bolster their balance sheets, firms borrow more to promote their growth, and consumers spend more than ever, all while lenders are seemingly becoming more lenient with each passing day, wrote NewsBTC.

    According to Trace Mayer, a long-time advocate for Bitcoin and an anti-centralization free thinker, society has accumulated $87 trillion more debt as humanity’s relentless lust for growth continues, accentuating that governments and society at large haven’t learned from past mistakes. History repeats itself and few on this planet have learned the lessons of the past.

    The Peterson Foundation, an American financial services group that is focused on amending the nation’s economic issues, stated that the fiscal situation is “not only unsustainable but accelerating.” And the Federal Reserve has been put into “checkmate” by the very system they designed.  There isn’t anything they will be able to.

    Will you use Bitcoin as an “escape hatch?”


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      1. Mr. Voorhees, please sir, put down the crack pipe and back away slowly. Trying to convince me that to replace all the bogus fiat currencies in the world with a digital mega-fiat ‘coin’ that has even less chance of being backed by anything (at least the current crop of worthless scrip is tied in some fashion or another dependent upon country to that nation, its people and land) worth snot is insane…. you’ve come to the point in life that maybe the 12 step remedy might work. I doubt it; but, I hate giving up without even trying.

      2. Oh wait print more of those worthless paper coupons called dollars….. oh wait bitcoin is just as worthless…. you don’t even get a nice piece of paper with Ben Franklin on it.

      3. Uhhhh ok, explain how shitcoin backed by 0 is better than metals. Can everyone use or take shitcoin as payment? Is everyone stupid enough to even accept shitcoin? Digital vs. real? What a stupid fookin article geeezus!

        • It’s not better t than metals but it has attributes that make it superior for certain things. For example, if you have to flee your home and take to the road for 3 days to make it to your BOL you better hope you don’t get stopped by highway robbers (including the government). They may just help themselves to your gold and silver as a “toll” for allowing passage. But if you do bitcoin right they will never know you have it and won’t be able to steal it from you. That’s just one example. There are more. That doesn’t make bitcoin better – it just makes it another option.

        • Bitcoin doesn’t work when the grid is down.

      4. “Bitcoin may be a way out, or “an escape hatch,” as put by ShapeShift chief executive and crypto entrepreneur Erik Voorhees.”

        LMFAO !!! Bitcoin operates upon the “bigger fool theory” and this jerkoff is trying to make bigger fools of anyone who is dumb enough to swallow this swill. Think he profits much from this insider position if he can raise the price of a bitcoin ???

        “Bitcoin is the sensational decentralized cryptocurrency that could be the answer to central banking” .

        Complete bullshit. Tell that to the owners whose MILLIONS OF DOLLARS of bitcoin was stoilen, hacked, and embezzelled by Insiders.

        Digital money in any form (including credit cards) are subject to theft and fraud and therefore dangerous for the consumer. Unfortunately with bitcoin no one stands behind it to protect consumers from fraud and subsequent loss. Banks (for all of their flaws) at least will protect consumers from the fradulent use of their credit card.

        “This entire system the central banks have crafted for us will all come crashing down at some point, and decentralization will be the key to ensuring it never has to happen again.”

        Decentralization will not save any financial system. (That is a CROC of SHIT !!! ) No nation will ever “decentralize” their financial system. And (small detail) if they would/could, how would they do that ??? Bitcoin is not “decentalized”. In fact, it is CENTRALIZED through the exchanges through which it is traded. Does he think we are fucking stupid ???

        Digital fiat will be secure when blockchain technology is wedded to quantum computers which exist, but are not ubiquitous. When they are, a global digital currency will be overlaid upon the existing financial structure to consumate every transaction: but not change the fundamental financial structure at all. 🙂

        • ^^^^ What he said! ^^^^^

      5. BitCoin is vaporware. Cash is king.

        • Cash is king until a group of thugs break into your house and steal it. Or until they mug you and take it from you. But if you do bitcoin right they will never know you have it and you can still access it even after you get mugged (unless there is a nation wide grid down event). Bitcoin is just another asset like real estate or gold and having a little on the side is just good planning. Remember – don’t put all your eggs in one basket with only one type of “money.”

          • Don’t compare Bitcoin to real estate or Gold. You can actually see gold or real estate and touch it; Bitcoin is imaginary, can’t physically be seen or held in your hand. Hence the term “real” estate, or ingot. Show me the Bitcoin or let me hold it in my hand.

      6. Diversify you bitcoin hating monkeys. You want gold, silver, cash, stocks, bonds, real estate, and yes – bitcoin. High rollers like me have a little of everything.

        • It’s usually the unfire-ables and wards of the state, who have these kneejerk reactions against anything DIY.

      7. In theory, you can write an IOU in color crayon (numismatic script), and insure it at any pricepoint of your own choosing.

        I think, there’s lots of fugly drawings, mainly being used as a financial conveyance.

        But, most people are pinkos, appointed by the state to fake makework. They don’t have any useful goods or services, to exchange for BitCoin, besides speculating.

        It’s not fungible, except in terms of dollars.

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