Topic: Advantage of holding Bitcoin in time of crisis (Read 1324 times)

The global economy faces various challenges, including inflation and financial crises in some regions. In situations where traditional financial institutions are not accessible or trustworthy, Bitcoin can be a viable alternative for storing value and conducting transactions. Bitcoin can be a valuable tool for individuals looking to keep weight and execute trades in a decentralized and secure way, particularly in situations where traditional financial institutions are not accessible or reliable.

If the government seized Gold in the past, what makes you think it won't "seize" Bitcoin in the future? More people are turning to crypto/Blockchain tech as Fiat currencies lose traction due to ever-increasing inflation rates. Central banks' efforts to control inflation have been widely unsuccessful, making BTC a more attractive alternative to existing Fiat.

If the government outlaws the possesion of Bitcoin, that doesn't mean it's the end of the world. The pioneer cryptocurrency is decentralized and censorship-resistant, so people will find a way to bypass government restrictions. The government will have no other choice but to join the revolution. Who knows if BTC is poised to take over the world as the leading reserve currency? Just my thoughts

More precisely it was affected by natural disasters, the crisis that befell Turkey is not the same as the case with the crisis that befell Syria. Natural disasters will hinder any growth in the country, the case of the war that is happening in Syria will make it difficult for people to get out of the economic gap and the two countries are experiencing different conditions from the financial crisis that is currently happening in most other countries.

At this time it is not a wise decision to teach this to the two countries on this matter, they are facing bad conditions in the economic sector and now what they need is stability and sustainable economic recovery, so they can live normally as before. The presence of Bitcoin may only be utilized by a handful of people who are experiencing natural disasters and cases of war that occurred in the two countries. Bitcoin can be a form of donation to help them out of financial difficulties, but in the case of storing value through investment his is not the right time for them.

Global economic recovery in the country must be stable first, so that the function of bitcoin for investment assets can work and I think it is a little excessive to force investment if their country is experiencing a natural disaster or war, except for individuals who have a much better financial level.

My view is yes, During times of crisis to hold Bitcoin can be profitable because of its decentralized nature. In many crisis-hit areas, traditional financial institutions may be unavailable or unreliable, leaving individuals without access to their money. However, with Bitcoin, individuals have complete control over their finances and can access their funds at any time.

Additionally, Bitcoin's limited supply and decentralized nature make it an attractive store of value during times of inflation or economic uncertainty. By holding Bitcoin, individuals can protect their savings from the effects of hyperinflation or government intervention meaning overall, Bitcoin provides a safe and accessible alternative to traditional banking, making it a valuable asset to have during times of crisis.

There are many examples of hyperinflation, and there have even been cases in history when buying gold did not save people from this, because the state simply seized all the gold from the population.

Now, in the context of the global crisis, inflation has become a problem for everyone, even developed countries feel its impact, and in less developed countries the situation is even worse. Therefore yes, bitcoin in our time is an excellent tool for preserving the value of our funds. We live in a unique time, and whoever understands this and buys bitcoin will get a very good advantage, and will be able to survive most of the possible crises.

Correct. as an example. if we are in a country that has hyper inflation then we will be really grateful to have moved our assets from our country's fiat currency into bitcoin before a hyperinflation occurred in our country. because when hyper inflation occurs in a country, the country's currency will experience a decline in value (a drastic decrease in value). even if you do a google search we can find several countries where the currency has become worthless. they even go to the market with a sack of money just to shop for their daily needs. well of course in a country like that holding fiat is really more risky. so that in countries like that people try to save their wealth by transferring it into gold. and if they are familiar with bitcoin then of course bitcoin will be the choice they make.

In any case, I live in Ukraine, I prefer to keep my savings in top cryptocurrencies, such as bitcoin and ethereum. The Russian invaders have already destroyed about 30 percent of the Ukrainian economy. Ukraine is holding on largely thanks to international financial and material assistance. But there are no guarantees that this will be the case even after the victory over Russia. Inflation can sharply increase in the country, so the cryptocurrency will be a salvation for our savings. True, during periods of such cataclysms, the safety and security of cryptocurrency assets plays a paramount role, because absolutely the entire territory of Ukraine continues to be periodically shot through by expensive Russian missiles.

Exactly my point, knowing the right timing has its advantage because no one can tell what the price of Bitcoin will be in the next 10 years, it is possible that Bitcoin price at that time may be lower than now even though the chances are slim due to multiple bitcoin halving that will happen between that time space that could possibly trigger the price of Bitcoin to rise but again we are not certain when that rise will happen that means there is also a possibility for a drop too.

But if one holds for a sufficient time not too long let's say considerably around 5 years it will become easier and better to cut profits along that line because the possibility that the price will make an all-time high between that time is high, so waiting won't become a death trap for Bitcoin holders who may discover that the price in 10 years is way below the current price.

the same is the case with other investments, maybe if it's only 2 years the results are not yet clear or even you are still losing money. but in the long term like 10 more years, maybe it will benefit. but if we talk about the best return, then the moment becomes a determining factor to get the maximum result. suppose we target to hold it in 10 years, it turns out that in year 9 the price has soared, then I will sell it at that moment

Wouldn't disagree with what you are saying here. Bitcoin is actually a good alternative to save your money. When things get messy with the economy or there's some sort of crisis going on, Bitcoin can be a real game changer during those bad times. It's not controlled by the government or anyone, so it's not gonna be affected by any monetary restrictions that the government might place. Plus, you can send Bitcoin anywhere in the world without needing a bank or anything like that. Super useful if banks around you are struggling or just not available (don't forget how banks can stop you from accessing your own money during those days!). And the best part about bitcoin is that you're totally in control of your own money. No need to rely on someone else to keep it because you are your own bank. As long as you know how to keep your funds safe and secure, there is no one that can access or control your funds. But do your own research before going all in on crypto currencies. They are sometimes extremely volatile which might end up hurting you more than you expect.

10+ years is considerably long and we're not sure of the next minute. Holding for such long years and we're not able to enjoy the outcome is really bad. Right choice is to move along with the market. Just fix the years of holding, in between based on the market movement book the profit and find the opportunity to reinvest. This would be better than just holding for 10+ years.

Actually, 10+ years is really a considerable long term indeed but the question is how many of Bitcoin investors will be able to hold through all the time till their arrival at that stage because 10 years is really a long time to be considered for a speculative investment like bitcoin.

Don't misunderstand my point, what I mean is that if one could possibly reduce the waiting/holding time to 5+ depending on your age and the nature of your invested fuanywaysways.

I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.

During a crisis, the inflation rate will also increase. However, it's a known fact that Bitcoin is not affected by inflation since its supply is limited. Additionally, I believe that its demand will increase over time, especially when fiat currency is struggling. Bitcoin can be a good investment, but it's important to always look at the long-term picture, as that's where you'll achieve ultimate success.

not only because of a natural disaster crisis. even in the world of banking even now is experiencing a crisis. bankruptcy or liquidity crisis and other things keep popping up. which makes people increasingly distrustful of keeping their money in the bank. so that moving our assets by buying bitcoins and storing them has become an alternative way that is being done a lot at this time.

I completely agree that holding bitcoin during the financial crisis is very good. Now I see that banks are collapsing like dominoes, and the whole world is plunging into chaos, but I am calm because I know that there is a bag of bitcoins in my ownr wallet.

At the moment, bitcoin is the best way to save your money. The main thing is to keep your bitcon in a safe place, and not on the exchange.

Chipmixer was closed about a week ago, about 2k bitcoins were confiscated. So bitcoins can be confiscated. It's not as easy as with fiat, but possible. So it is important to remember that protecting our private keys and seed phrases is on us only and we should be very cautious and careful. If no one knows we have some satoshies we are safer than if everyone can get access to our data and hardware. If it is hard to seize bitcoin it doesn't mean that it is impossible, and example of Chipmixer is not the only one.

Bitcoin can't be confiscated or debased at will, making it the best "sound money" the world has even seen. It's ideal for use at times of crisis. The only problem is dealing with volatile market prices. But that would no longer be a reason of concern in the future if Fiat collapses due to banks' mishandling of the economy. More people are becoming aware of Bitcoin's true benefits, so it should only be a matter of time before we enter the era of "hyperbitcoinization".

Buying now while prices are cheap could be the best decision to make in your lifetime. Who knows if you'll become rich in the future by acting fast before it's too late? Just my thoughts

It is not just the matter of time, bitcoins technical part should be developed as well. We can use it just because there is not so many transactions in its blockchain and there is some outer decisions like LN. Until bitcoin network bandwidth will become at least as huge as major payment-processing systems like Visa or MasterCard we hardly can expect it will become a mainstream payment system. And it looks like it will take time for programmers to find a solution which will be supported by bitcoin community for solving a scalability problem. So awareness about bitcoin and its development both need some time to beat their best.

when a crisis occurs, the main thing to do is continue to survive, limit withdrawals from banks, so that investing in crypto also experiences sluggishness, because it seems that they are interrelated. but if we switch to crypto during a crisis, maybe it will be safer, because at that time the price will experience bearish, so that the future will be better.