Is Bitcoin a Safe Haven for Your Money? - page 8.

robelneo

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Quote from: elsniper on January 22, 2020, 05:30:03 PM

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

I'd like to believe that Bitcoin and other Cryptocurrency is a safe haven, it is easy to move from one country to another, and depending on market condition, you are likely to make a profit compared if you are going to store it in a bank, and like what happen to HongKong the government can restrict you on your control on your funds on the bank they governed.

MI6

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Quote from: elsniper on January 22, 2020, 05:30:03 PM

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

Me personally wouldn't rely that much to bitcoin. Maybe will keep it as investment that maybe can give me profit or loss. Because bitcoin's volatily actually is something that we must be aware and it is better than too confident in our investment. Maybe for other kind of investment too.

Furious 7

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There is always a risk if you save money in bitcoin and security cannot be guaranteed but if you keep it in a cold wallet then I think it will be safer.
Bitcoin is only for investing that I do not to save money, because investing in bitcoin I feel a big profit so I choose bitcoin over investment in others.

ragavancoin

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Yes I do agree Bitcoin is safest haven only until you wait for the long term. Should have patience and wait for the market to pump, it's more profitable than you think at the same time you should protect your private keys and password safely and should not forget the wallet address. Investing in Bitcoin for long time is profitable and be smart enough to withdraw before the market dumps.

Getmon

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I'd pretty much consider Bitcoin as a safe haven for my money but depending on the duration. If in short term, that would not be possible because Bitcoin is highly subjected to speculation and its price is fluctuating as ever. But in 2 or 3 years time, I guess the value of Bitcoin will be appreciating. That is, for me, enough to say that Bitcoin is a safe haven. We have been saving fiat in banks, have it enrolled in time deposits, and so on but the fact remains that the value of fiat is depreciating and the inflation rate is almost equal to the interest that our savings earn.

FaithInCrypto

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I don't consider Bitcoin as a safe haven for my money. Why? Because if it's a safe haven, we wouldn't have any news about hacking and scamming. I only see cryptocurrency as a way to invest a fraction of what I have and profit even for a little bit but greater than banks could give. I know Bitcoin is the future but I refuse to trust all my future in it. Let's just say I have trust issues but its one thing that saves me from trouble when greediness kicks in.

ajeef

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Quote from: GreatArkansas on January 22, 2020, 06:25:40 PM

I read the article and seems not so detailed.
But here's what I can say; Bitcoin is not safe haven for my money.
Because I do believe the risk when I started to buy Bitcoins and store it for long term.
Although I already know the risks, I am still supporting Bitcoin, why? Because I am not just totally into the money will return of Bitcoin, but it's also for innovation or technology behind Bitcoin.

The article is linked to a video, you should watch the video first. Yeah but true that any cryptocurrency is never safe to store and for life savings. only people who have strong balls who dare to invest all of their money to cryptocurrency. But in the end if it's running well, they will have a lot of profits compared to any safer investment

CryptoBry

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We know that Bitcoin is a very volatile asset so if one is averse to its volatility then this is not the most recommended investment vehicle, much better go with the real gold and not its digital counterpart. However, for people who can absorb some risks and looking for a way to growth his asset or money in the coming months and years then taking Bitcoin can be worth it. The thing is never go into something with both eyes closed, one must be aware into something he is jumping into and do some due diligence before deciding to say yes. Overall, based on its history, Bitcoin can be a very profitable experience one can opt to be a part of.

acroman08

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for those who won't watch the video Campbell Harvey(the one being interviewed) said that "bitcoin's history is very short and we don't have enough evidence to
say that bitcoin or other cryptocurrencies will be a reliable safe haven." which I agree. also, he said if in the events of crisis(war and such) hypothetically bitcoin or other
cryptocurrencies could be a go-to asset since it is uncorrelated or affected by the crisis unlike the stock market and such.

maxreish

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Since I am expecting my bitcoin to flactuate or to increase when the market goes up, I strongly believe that it is a safe haven for me. Have been holding my own bitcoin and feels like holding and controlling my money with my own investment. But we cant deny the fact that bitcoin is still a "speculative unstable store value" thus making it not that safe as an investment.

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Quote from: Zemomtum on January 22, 2020, 06:56:10 PM

Btcoin has demonstrated to be a store of value and it is definitely a safe haven for any fiat. If there is any bad news like war, what big institution rely on is to convert their capital into Bitcoin which makes it act like a safe haven

But its price volatility makes it a high risk investment. You should know what you are getting into before you convert all your fiat to bitcoin. Though bitcoin stand out among cryptocurrencies, but the stability of its price in the market is one drawback. It is good if the price is in continuous increasing trend but what if when the time comes that you need to encash and the price is not something you expected? So what I am saying is just prepare yourself for all possible scenario because bitcoin is a high volatile investment.

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Btcoin has demonstrated to be a store of value and it is definitely a safe haven for any fiat. If there is any bad news like war, what big institution rely on is to convert their capital into Bitcoin which makes it act like a safe haven

Myfe

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Quote from: elsniper on January 22, 2020, 05:30:03 PM

Nice video and the article!
----
Must watch

Why must WE watch it? You just watched it, couldn't you give us a summary of the information provided? A few bullets on why they believe bitcoin is a safe having for our money?

Bitcoin can only be considered a safe haven if we know the rest of an investor's portfolio. It's not a safe haven for all of one's money. The swings in Bitcoin are unreal. 10-15% price swings over the course of 24 hours is the exact definition of risky (not safe!) What Bitcoin does provide is a intriguing alternative to traditional investments (bonds, stocks, mutual funds, real estate). Cryptocurrency serves a great purpose in diversifying ones assets. There's a lot of upside potential, but that only comes with an equal amount of risk. Don't put all your money in bitcoin - please!

GreatArkansas

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I read the article and seems not so detailed.
But here's what I can say; Bitcoin is not safe haven for my money.
Because I do believe the risk when I started to buy Bitcoins and store it for long term.
Although I already know the risks, I am still supporting Bitcoin, why? Because I am not just totally into the money will return of Bitcoin, but it's also for innovation or technology behind Bitcoin.

chennappa121

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As per my experience bitcoin investment is very safe haven for our future, because we already know that if someone invested $100 in the Bitcoins at earliest now it will cost more than a millions. but we have to understand the crypto market very well before make a decision in crypto investments.

elsniper

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Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

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