Topic: Btc and gold can now be called "safe" - page 3. (Read 499 times)

Gold has always been a safe haven, Bitcoin is still volatile.

Bitcoin is bitcoin, and gold is gold. Gold will be safer than bitcoin because the gold price is not going up and down significantly, and the gold price tends to be stable. People know gold as a safe investment, and they don't know if bitcoin can be the same thing as gold, even most of them still don't know if bitcoin exists. Bitcoin is not safe until now because bitcoin prices are still moving up and down many times every day, and we can get a heart attack if we don't know what is happening in the market. We don't know when bitcoin can be a safe investment, and if you want to have a safe investment, it is better to buy gold.

Gold has been a safe asset even before the creation of fiat currencies but about bitcoin, it is becomming stronger year by year, many countries are now accepting bitcoin as a form of payment, many countries have even legalize it. In italy, bitcoin is the third latest payment methods after Paypal and credit cards, the USA has over 6000 bitcoin ATMs, bitcoin is used to pay in hotels, dancing bars and used as other means of payments in Slovenia. This years 2020, Australian residents can now pay for bitcoin at more than 3,500 national post offices, French court considers bitcoin money, cryptocurrencies are now legitimized in South Korea, Australia and India. Also, there are many charity given in the world accepting bitcoin as a payment method. These are just few of such above.

With all these said, bitcoin is not at any experimental stage again but is not a currency to be called money. So, people should consider bitcoin as a safe asset.

Only the issue on ground now is the invention of quantum computers, the primitive quantum computers is never a problem, the problem are the ones that will be created later which will be more sophisticated, but indeed not a problem as bitcoin will also have a quantum resistant EDCSA (Elliptic Curve Digital Signature Algorithm) that will not allow the computers to reveal private keys from addresses.

Bitcoin increase above $12000 today, but the $12000 resistance is so strong, and the price is still around $11,960 at the time of posting this.

Although I agree with most of the analysis you make, I'm not sure that most people will buy bitcoin to protect themselves from fiat devaluation.

I wish that was the case, and if we look at what has happened recently, it seems that way, but if we look at what happened at the beginning of the pandemic, it was not like that at all.

People sold assets to get liquidity, and everything went down, including gold and bitcoin. Now we are in a calmer situation but at any time people can start selling to get liquidity.

After all, for most people, bitcoin is an asset, not a currency. (Not for most people on the forum.)

I think there is no such "safe investment" because all have risks, in terms of gold the risks are low because it is proven over time that its price is gradually increasing but in terms of bitcoin, I do not see it as safe investment because of its volatility. There are a lot of factors that should be considered before investing through bitcoin like proper risk management especially about allocation and stop loss levels and also validating the trend in order to know when is the right time to enter and exit in the market.

Make that $12k as bitcoin has break to the price today.

https://cointelegraph.com/news/bitcoin-price-tackles-12-000-after-breaking-through-a-key-resistance-zone



I think gold is safe, that's proven through ages already, bitcoin on the other hand might be performing the unexpected this year, I can't say it's safe to invest in bitcoin as I have not see its stability yet, it's price bullish movement in short term doesn't prove that it's a safe asset to invest with, however, I believe that bitcoin is going to grow in the long run, but it's volatility will continue to show, hence I don't call it safe.


I think it's early for bitcoin, not on gold. 

At the point when the pandemic shed it's milk teeth, investors and individuals became aware of how vulnerable fiat is in a situation of an economic meltdown. After the lockdown, that left the economy staggering, we've seen the printing of more money out of thin air that can create inflation, third world economies and poor countries are as well going to be hit with recession and possible hyperinflation. What all this means is the devaluation of the fiat currencies. But I've been closely monitoring gold/bitcoin prices during this pandemic, in case you didn't know, gold price surged above 2k per ounce for the first time ever last week and analysts think it can get to 4000 in a few years.

Bitcoin has also surged to 11k despite the pandemic, imo gold and btc are somewhat "safe haven" assets, this pandemic is a real test to know how well they can hold up investors funds, when everything is crashing and they have been doing great in the market, the number of people that will turn to these assets as time goes on will continue to increase, to evade inflation and the devaluation of their money in their bank accounts, and it will continue to push their prices up.

P.S. I do not think it's early to tag them as safe assets, people previously said they were yet to be tested in a dire situation, for me, that test came this year, with the pandemic and it's effects.