Topic: How much btc should a person have in a economic collapse situation? (Read 953 times)
August 08, 2015, 01:06:10 AM
it depends: probably 2-5 BTC (BTCs value would be higher is that case)
August 08, 2015, 01:01:28 AM
It would be best to have some precious metals besides Bitcoin.
In the situation you're describing, I would keep like 10 Bitcoins in a cold storage wallet and the rest of my funds in gold or silver.
In the situation you're describing, I would keep like 10 Bitcoins in a cold storage wallet and the rest of my funds in gold or silver.
August 08, 2015, 12:06:25 AM
I think that very much depends on which country you live in. Most of EU countries have the same ratio of their currency value. But in the third world country like us, where inflation is just too much, the amount of BTC needed to stay safe, is quite hard to predict.
August 07, 2015, 10:00:30 PM
If you have bitcoin to cover a couple of months expenses (at current exchange rates), that should probably be enough. Bitcoin would appreciate and last probably a year during an economic collapse. Worst case, you will still have bitcoins to last a couple of months.
August 07, 2015, 09:16:15 PM
well how many is too many ? i would say as much as possible more the merrier 
but i doubt that time is anywhere near though
but i doubt that time is anywhere near though 
August 07, 2015, 06:14:31 PM
So i was thinking if the world economy collapsed what amount of btc would be enough to mAke it through first few months, and will bitcoin would become the currency of choice in that situation, if yes why is that? The world would be in a chaos and may be battering will be more of a thing, than bitcoin what r ur thoughts on this?
21 is a good number. 1/1000000 of the total bitcoin economy. 2.1 is also decent, that would be 1/1000000 of the total bitcoin economy. If you have 100 BTC, then would you in 2030 either have nothing or be part of the world elite of weatly men.
August 07, 2015, 06:10:42 PM
if bitcoin was stable I would say 50% of the total holdings in bitcoin would be a good option. currently i don't think having more than 10% of your total holdings in bitcoin is a wise move as the volatility is too heavy.
August 07, 2015, 05:32:33 PM
The answer on this thread is easy. You should have the most you can. The more, the merrier! In a crisis, too much is not enough...
August 07, 2015, 04:25:39 PM
If you are talking about a REAL collapse, go for food rations and potable water. They will skyrocket way more than bitcoin.
That is a valid point. If economy will collapse the fiat or bitcoin would not have much value anymore. Everything not 'real' will lose value.In the scenario when only FIAT of one country will collapse then sure, bitcoin is a clear winner, but as much as other foreign currencies.
So I think there is no really much benefits in holding bitcoin during total economic crisis.
August 07, 2015, 04:16:36 PM
economy collapse in greek, ask here ... no hospital, food problem.
economy collapse in espania, ask here ... home expulsion in row.
so ... the solution is always : restore the economical value to the ground, from the worker and local shop and farmers.
the problem of the 2 countries are that they don't refuse the auterity plan.
if they have choose a more "cleaned" money ... they have a different way of conclusion now.
but people are always late ... very late (after the bank bonus but before the tax hell).
economy collapse in espania, ask here ... home expulsion in row.
so ... the solution is always : restore the economical value to the ground, from the worker and local shop and farmers.
the problem of the 2 countries are that they don't refuse the auterity plan.
if they have choose a more "cleaned" money ... they have a different way of conclusion now.
but people are always late ... very late (after the bank bonus but before the tax hell).
August 07, 2015, 04:07:31 PM
If you are talking about a REAL collapse, go for food rations and potable water. They will skyrocket way more than bitcoin.
August 07, 2015, 03:59:37 PM
Well if whole world economy would colapse and everybody would find a safe haven in Bitcoin then even 1 BTC would be plenty considering all the people in this world.
This is of course hard imaginable, there is gold, other precious metals and of course, previous post has mentioned barter, which would surely be used. For example, during the crisis in Cyprus in 2013, barter was widely used!
This is of course hard imaginable, there is gold, other precious metals and of course, previous post has mentioned barter, which would surely be used. For example, during the crisis in Cyprus in 2013, barter was widely used!
August 07, 2015, 03:58:22 PM
This case is like Greece situation.
I don't know the amount is should have for a person, it's depends. And if the world in a chaos, people choose a bitcoin, i'm sure they will need some education about bitcoin.
I don't know the amount is should have for a person, it's depends. And if the world in a chaos, people choose a bitcoin, i'm sure they will need some education about bitcoin.
Yes, and as i understood op, he's refering to worldwide economic collapse. Now just imagine; if Greece brought the price up ~10-15%, imagine what would the economic collapse in global
do to the price and popularity of bitcoin. I think that in that case, we would probably have 1 btc holders as fiat millionaires.
cheers
August 07, 2015, 03:51:37 PM
This case is like Greece situation.
I don't know the amount is should have for a person, it's depends. And if the world in a chaos, people choose a bitcoin, i'm sure they will need some education about bitcoin.
I don't know the amount is should have for a person, it's depends. And if the world in a chaos, people choose a bitcoin, i'm sure they will need some education about bitcoin.
August 07, 2015, 03:50:27 PM
there's a similar thread here, but it's not linked to economic collapse https://bitcointalksearch.org/topic/whats-the-amount-that-every-bitcoiner-should-own-1146500
In the situation you are describing there's no doubt that there would be a lot of speculations and that the price would inflate insanely, but bitcoin
isn't the only thing that would get tanked, a lot of people would go for gold.
On the question of quantity, i would get as much as i can, as early as i can, since it would be impossible to loose on that investment in that case.
cheers
In the situation you are describing there's no doubt that there would be a lot of speculations and that the price would inflate insanely, but bitcoin
isn't the only thing that would get tanked, a lot of people would go for gold.
On the question of quantity, i would get as much as i can, as early as i can, since it would be impossible to loose on that investment in that case.
cheers
August 07, 2015, 02:47:47 PM
So i was thinking if the world economy collapsed what amount of btc would be enough to mAke it through first few months, and will bitcoin would become the currency of choice in that situation, if yes why is that? The world would be in a chaos and may be battering will be more of a thing, than bitcoin what r ur thoughts on this?
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