Topic: Is Bitcoin truly a safe-haven asset? - page 7. (Read 1408 times)

Online is a completely uncertain world. You always have to keep in mind the damage. You can't do big things here without risk. Since Bitcoin is currently at the top of popularity. Bitcoin promotion and spread is increasing. Considering all these aspects, it can be said that yes Bitcoin truly a safe-haven asset.

First of all, lets take the definition of safe-haven asset base on Investopedia.


The main idea here is the bold text base on the definition. In that part alone, we can say that Bitcoin isn't considered a safe haven asset because it doesn't limit the investors to the exposure of losses. We saw Bitcoin going down and up many times already and did some huge downside movement.

The OP should visit those above mentioned thread to gain more perspectives on this matter. But yes, if you are not focusing on being the safe have asset or not, one can always use bitcoin in so many ways. But if a person wants it to hold for long time without touching it once acquired, I believe that person needs to educate himself more about crypto and the risks involved. So he will not be disappointed if the expectations are not met.

I agree, no asset seems to deserve called "safe-haven". Even Gold has uptrend and downtrend in price. Maybe the safest asset is the land, but it is something quite limited and not to own massively. Regarding Bitcoin, it shouldn't be called as a safe-haven asset since it has some risks that everyone must pay serious attention to.
- It has a high volatility
- The market is unstable or fluctuating
- Serious threats from hackers
- The real use in daily life is still very limited
- Etc

Read more here: https://www.forbes.com/sites/forbesfinancecouncil/2018/12/05/the-top-10-risks-of-bitcoin-investing-and-how-to-avoid-them/#658a9b932407

Again I see a thread who discuss a safe-haven asset, whereas there are many threads already
which debating against it, as you can here

1. https://bitcointalksearch.org/topic/can-btc-really-be-a-safe-haven-5242905
2. https://bitcointalksearch.org/topic/bitcoin-vs-gold-which-has-been-more-of-a-safe-haven-asset-in-2020-5253691
3. https://bitcointalksearch.org/topic/is-bitcoin-a-safe-haven-asset-5229748
4. https://bitcointalksearch.org/topic/bitcoin-is-a-bad-safe-haven-asset-5255990
5. https://bitcointalksearch.org/topic/which-investment-is-a-safe-haven-gold-or-bitcoin-5244620
6. https://bitcointalksearch.org/topic/in-times-of-turmoil-is-bitcoin-really-a-safe-haven-asset-5232419
7. https://bitcointalksearch.org/topic/is-bitcoin-a-safe-haven-for-your-money-5219937

But for myself I'll take it as simple as possible, I'll use bitcoin as much as I can, I don't care about what many people consider. Because to me, I can use bitcoin in many functions not only fixated on a safe haven asset or a currency.

For me it is because I value my privacy and the ability to take money anywhere I go. Bitcoin allows me to do it.

I don't excpect it to work as a hedge to world finances and hold value when everything else crashes. It will never work this way.

It's too soon to say that Bitcoin is a safe haven asset, at least for now Bitcoin can't be a safe haven asset. The reason is simple
because the price of Bitcoin is volatile, and there is also gold that is more suitable as a safe haven for now. Bitcoin as the best
performing asset, should be used for trading. Because it can make a lot of money, but not close possibly in the future bitcoin
can become truly a safe haven.

The system is. But it's trustless as in you don't need a third party to prove that the money I gave you came from my wallet, has not been double spent so the coins exist and are legit and is valid.

That is completely different from the trust some people put in BTC. You need to trust Bitcoin as in you need to believe it'd be a good choice during a recession for it to survive.

If enough people do not believe it's a good safe haven asset, it won't be. Price is decided by us. If you don't believe BTC would be a good choice during a crisis, you'd sell. Same goes for other people. Well, if the number of coins sold exceeds the number of coins bought during a recession, price would obviously fail. You can't have 80% of the Apple fans never buying their products again without a big downfall and potential even collapse of it. We decide how some things go.

A large part of the electronics even you use have small quantities of gold or silver in them. Ever heard of "gold-coated adaptors"? To me it still looks like gold is something. We may not be creating and using golden tools anymore, but it's still used a lot in many industries. In fact, your "overpriced, manipulated and useless" part doesn't even make sense if you take a 5 second look at the gold price chart over the last 10 years.

It totally depends. Based on current situation, most people will say no. Other who will argue saying that it is a "safe-haven" are likely being ignorant and won't be able to come up with proper argument when you start counter arguing their opinion.
We don't know whats written no the fate of bitcoin. No one knows what is going to happen next. It can prevail or it can die.

Many people are saying that bitcoin is really a safe heaven. It is talked for so many times and discussed many times by cryptocurrency people. I agree that for now bitcoin cannot be considered as a safe haven. In this time bitcoin is not that famous, yes many people know about bitcoin but the number of people who do not know about bitcoin is much higher. Many people still think that bitcoin and cryptocurrency is a scam due to many hackers and scammers. Though bitcoin cannot be considered as a safe haven now I know that in the future bitcoin will rise. Bitcoin really has the potential to be a number one cryptocurrency in the world. Given that the traditional currencies nowadays perform really good woth the bitcoin.

Not every Bitcoin enthusiast would agree Bitcoin is a safe haven. Some consider Bitcoin as money, some consider it a risky but potentially profitable investment, many just use it for trading. It's also hard to say what qualifies as a good safe haven. For instance, when Bitcoin dropped in the middle of March, Antonopoulos said Bitcoin's not a safe haven at all and that he's been saying it before. However, just in June there've been discussions that Bitcoin is the best performing asset of 2020, given the situation, so maybe it's not such a bad safe haven after all, albeit an unstable one. My view is that gold is more stable and is probably better if the person's purpose is to keep wealth safe rather than risk but have a chance of making this wealth more significant.

It's considerable to us as a crypto enthusiast that Bitcoin is a part of safe-haven investment even though there is a possibility of high risk but we know that times come we got a folded profit when the market becomes bullish.

We're all looking for safe-haven investment but the fact that burden us and I believed that fear and anxiety was the obstacle in choosing a safe-haven investment, negative emotion will bring you down. If you believed that you are safe in investing in crypto, go on and stand of what you have been believed, if that is gold, government bond, or what so ever kind of investment. Because all form of investment has a risk, you will never know what will happen next.

another problem that it doesn't look like a problem until it becomes a disaster is that nowadays with all these markets and banksters people aren't even physically owning bitcoin. paper gold, contracts and all that crap have replaced it. if things go bad all these people are also screwed

Oh it's definitely not comforting. But if we reach to a point that it's going to be THAT bad, while you still have your gold with you(which is a good thing), what it will be priced in will be questionable(though I'm not saying it will crash). Because in such a case, not sure if gold is the best asset to own as it's probably going to be chaotic.


True. But the problem here is not necessarily the gold that you own that you think is legitimate. It's the process of knowing if every gold you receive is legitimate. Imagine manually verifying each gold nugget you receive. This is a problem if you're planning on actually owning the gold physically.

That is not comforting at all. I have heard the same comment before, but it is not less of a problem, if others (eg. banks) are having problems too. If you compare to gold, banks having problems is not a problem with you holding gold.
  
Bitcoin can't be faked, and it is one of bitcoins strengths. But if you have gold that has been verified to be real what could happen to it besides it being robbed? Nothing.

This subject has been discussed a couple of times before. Nonetheless, I will share my take on it.  Bitcoin is not a safe haven asset (at least not for now) but it certainly won't go down the drain with  other traditional market instruments. Bitcoin is actually bigger than most people think it is. Given the opportunity, Bitcoin would perform better than traditional assets. So far so good, Bitcoin has held its ground.

Who remembered the market crash sometime in march? Where traditional assets plunged hard? Yes. Bitcoin did too but It has fully recovered from that loss.

Even after more than 10 years of its existence bitcoin is still considered as a new currency and many people say it is digital gold which also holds true.
Bitcoin is actually a safe heaven when it comes to both, the finances and security as well. Bitcoin wallets are more secure than traditional bank accounts as they can only be accessed by the password of the owner or the private key that they have, they can't be bruteforced by someone(at least there isn't any known case of it happening in the real world).
In terms of your money as well it is a safe heaven as it is always rising in value and it will continue to do so because of the code and rules on which it is built upon.

High risk, high profit.

I see bitcoin is still there.
It is not a fully pledged currency that could be used every day.
An asset to a greater percentage of bitcoin bag holders.
So, it will still depend on whoever will buy it. It's our choice. No one forced us to do so.  It's your risk at the end and hopes there will be no regrets.
It is not a safe-haven or whatever whatchamacallit.

Well most of us take the definition of safe haven asset as less volatile or not volatile asset at all, so that only means that we cannot accept, at least for now, bitcoin as a safe haven asset. Basically the movement of price of bitcoin is the reason why we cannot say that it is. But I'm thinking what if the price of bitcoin stays at $9K for a year? can we consider it as safe haven investment? or a riskier one because it looks like a tectonic plate that might move any time?

But a sudden deposit of huge amount might be hold by the exchanges right? or if you carry a hardware wallet it is still not totally safe and you might just lost it forever.

Trust? I thought the system was trustless.
The history of gold ended with the advance of technology. Gold is nothing now, and in the next one hundred years it will keep losing value. It is overpriced manipulated and useless asset.



If your chart only has two variables then it's like that. Thank you for your comment. I find your argument silly as well.