Topic: Advantage of holding Bitcoin in time of crisis - page 5. (Read 1380 times)

Yes, and I can name that price right now, it is 1BTC=1BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy.

Just a question, does holding Bitcoin give them access to good food?  I wonder how can holding Bitcoin help these people in accessing good food?  Isn't it more convenient to them if they have cash to pay for their food?  As far as I know, there isn't much retail stores that accept Bitcoin as payment, and there are still many suppliers that are not into Bitcoin.  So I wonder, what change does it gives holding Bitcoin against holding cash in hand?


Isn't fiat donation helping them the same way Bitcoin donation helping them?

The only thing I see holding Bitcoin become advantage is that it can increase in price in the long run, meaning if you are holding $100 worth of BTC today, there is a possibility that in then next years you will be holding more than $100 but there is also a possibility that you can hold less if the price of Bitcoin crash.

In time of crisis and people have no way to earn money, I do not think people will hold on their Bitcoin when they don't have money to spend for their needs, they will eventually cash out to pay for rents and bills.  I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

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When this market matures, I am sure the volatility will decrease and as a result we will find a much stable bitcoin price.
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Given what happened during the 2022 crisis, and bitcoin has also lost 80% of its value, I don't see how it can help us fight inflation. Inflation only causes commodity prices to increase by 10%-15%, while if you hold bitcoin, your wealth has dropped by 80% and has yet to recover this year. Bitcoin is just a long-term investment, it doesn't help in times of crisis.

In reality they have sent satellites with nodes in the atmosphere just to avoid some natural disasters and even if the internet connection fails we always have the possibility of Star Link or not?  I think Bitcoin is unstoppable beyond natural disasters.

The last thing people will be thinking of is Bitcoin during times of crisis. Especially when it has unstable market prices. When there's a natural disaster such as an earthquake or a hurricane/storm, there will be little or no Internet access at all. How would people use Bitcoin when there will be no way to settle transactions on chain? You could use Bitcoin offline using a bearer instrument like a paper wallet, OpenDime, or loaded physical coin. But transactions would need to be settled some point on the Blockchain to ensure everything is final. Maybe someday developers will find a way to fix this? If they solve this problem, then Bitcoin would soar towards new heights in terms of mainstream adoption.

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Bitcoin is the best alternative in this case, because you can have total control over your money, so governments can't seize it from you, while also keeping the value of your money on long term, on the opposite of the local fiat currency which is losing price fastly in a daily basis.

Gold could be a decent choice, but only if holding it physically, what I think for most people it's hard to acquire. Personally, I have no idea how to purchase physical gold. Also, it's not accessible to transport it when having to leave from one place to another.

If something didn't happen for long it doesn't mean it will never happen again. As cr1776 reminded Cyprus case with one-time tax on deposits was an example of a seizure which held recently enough. And if other "democratic nations" didn't do anything like that longer it just means they used some other options in crisis times. But it doesn't mean they will never use this one. And to be prepared to crisis means to keep in mind that any asset in any country can have its own disadvantages.

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks.

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

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Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

People argue that BTC is not a good store of value asset due to its high volatility. I do disagree but this comes with the contingent of knowing when to covert your BTCs into cash on the right opportunity and time.

One of the advantages of holding BTC in times of crisis is its value on the market. While it may not be stable compared to tangible assets like gold, expect its price to either increase/decrease depending on the current market status. This is also the reason on why the term HODLING was coined- keeping your assets until its value skyrockets in the future.

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks. Besides as I saw this become an attractive option for some people because it is a decentralized, digital currency that is not subject to the same inflationary pressures as traditional fiat currencies --and the reason could be they can store and manage their bitcoin without the need for intermediaries such as banks or financial institutions. This can provide a greater sense of autonomy and independence when it comes to managing one's wealth. While still considering bitcoin may be a viable alternative for some people during times of crisis, it is important to carefully consider the potential risks and benefits before investing in it.

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

We all know that there were several times in history when government expropriated gold. And crisis time is most suitable for gov to take such decision. And if so it will be not so easy not only to exchange your gold but even to keep holding it. Each asset you try to use for savings have its own disadvantages. For instance if you'll be forced to flee from your home it will be harder to take your gold with you than to take several hidden words hiding your bitcoins. Of course it is not an ideal variant as well, but gold isn't too.