The problem is always the same, at the start: having money to invest, given that we are becoming increasingly poor.
Topic: Preparing for a recession... Gold or Bitcoin? - page 2. (Read 1535 times)
Good question. Taking for granted that the recession is certain, as I think, the right method would always be to diversify investments: both one and the other.
The problem is always the same, at the start: having money to invest, given that we are becoming increasingly poor.
The problem is always the same, at the start: having money to invest, given that we are becoming increasingly poor.
That is definitely a huge problem for gold, when it comes to bitcoin you do not even need to have a paper wallet which a smart thief could steal from you, if you can memorize your seed words then you always have your bitcoin with you but there is no evidence at all in any piece of paper or electronic device that you are in fact holding bitcoin, and that is something that gold will never be able to do and it is a great advantage in the case of an economic crisis.
Bitcoin as new economic class is a great escape from economic crisis however Gold out-scale bitcoin on this aspect. Why? because gold's value is not dependent on demand and supply but on its metal properties found in it which is not common in any other metal, moreover gold is beneficial than fiat currency which can be easily devalue when crisis comes because it has no intrinsic value but only mandated value and belief on what it is going to have equivalent with. Bitcoin on the other hand contains too much volatility and even if people chooses it there is no guarantee that it will save them from crisis.
If we are talking about recession here then a wise person would be the one who holds both of them.
Bitcoin serves the need as a currency and establishes a peer to peer payment method which is very much needed if you don't trust banks.
Gold on the other hand is a physical asset and can save you from a recession.
So holding both of them would be a better choice.
Bitcoin serves the need as a currency and establishes a peer to peer payment method which is very much needed if you don't trust banks.
Gold on the other hand is a physical asset and can save you from a recession.
So holding both of them would be a better choice.
I think the recession is already started, people are buying gold like anything. The recession this time will definitely hit harder and USD will be at the edge of the cliff. Who knows what will happen, BTC may become a solution for many of the things and may become a savior.
Germans are currently queuing to buy gold according to the following tweet:
https://twitter.com/PopescuCo/status/1209559269382787072
I'd say this is the reason we've been seeing the price of gold tick up in the last month (approaching $1500). It's because people are trying to front run the restrictions.
https://twitter.com/PopescuCo/status/1209559269382787072
Quote
Germans are queuing at Degussa store to buy #gold in Köln. From Jan. 1, 2020, the limit to buy gold anonymously drops from €10,000 down to €2,000. Only two years ago the limit was €15,000.
I'd say this is the reason we've been seeing the price of gold tick up in the last month (approaching $1500). It's because people are trying to front run the restrictions.
Can I choose both? I guess if I want a stable one who can guarantee security I will choose Gold but if I want a tremendous change of price up to 1500% then I will choose Bitcoin (but it can also fall on to its lowest price). I should put my money on something that will guarantee security and to something that will somehow make me rich.
I think in a world with a recession is happening I don't think that we should focus still on investment, because the issue now is having the best currency that could basically replace the fiats so people could have something to trade and could still accumulate their needs to live. In this case, both gold and bitcoin is needed but not the profits that we could get from investment and there we could experience pure trading of these investment platforms.
Personally, I would buy both, it's a rule never to put many eggs in one basket. Know the division so that we can capture from Bitcoin and gold, many people will think that there will be a recession in the near future, I think it is very likely, please be psychologically prepared when it comes. .
That it makes sense mate. That is we should have to think of, and getting prepared is somewhat forgotten by newcomers. We could expect market recession anytime but if we already been prepared for this, nothing to have a problem. And I agree with you, both of them are the potential market gainer, why not having them if we have enough money to risk.
Personally, I would buy both, it's a rule never to put many eggs in one basket. Know the division so that we can capture from Bitcoin and gold, many people will think that there will be a recession in the near future, I think it is very likely, please be psychologically prepared when it comes. .
i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.
so in this case?and with the response of community?still bitcoin is the choice of many.
Another thing is that in most countries you cannot just go and buy a gold bar to store it safely. Just golden jewelry, coins or papers proving the ownership of some gold stored somewhere. With BTC, you can store it with yourself. You can make a cold wallet and hide it from anyone, including authorities.
As well, in case of crisis, robber can steal your physical gold. Yet (unless they are well informed by someone) they will not steal your cold wallet (or will not get access to your hardware wallet), because they will not be aware of what is it.
I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:
https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
The fact is that it is absolutely unknown how this recession will pass.If it is too hard, it is possible that cryptocurrencies will have a chance, although I do not really believe in it.In fact, cryptocurrencies are a panacea for the world economy,but it is difficult to say which way the pendulum will swing.https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:
https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
The fact is that it is absolutely unknown how this recession will pass.If it is too hard, it is possible that cryptocurrencies will have a chance, although I do not really believe in it.In fact, cryptocurrencies are a panacea for the world economy,but it is difficult to say which way the pendulum will swing. https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:
https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
You can not go wrong investing in ammo
i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.
so in this case?and with the response of community?still bitcoin is the choice of many.
Another thing is that in most countries you cannot just go and buy a gold bar to store it safely. Just golden jewelry, coins or papers proving the ownership of some gold stored somewhere. With BTC, you can store it with yourself. You can make a cold wallet and hide it from anyone, including authorities.
As well, in case of crisis, robber can steal your physical gold. Yet (unless they are well informed by someone) they will not steal your cold wallet (or will not get access to your hardware wallet), because they will not be aware of what is it.
Can I choose both? I guess if I want a stable one who can guarantee security I will choose Gold but if I want a tremendous change of price up to 1500% then I will choose Bitcoin (but it can also fall on to its lowest price). I should put my money on something that will guarantee security and to something that will somehow make me rich.
As much as possible I would really choose both of them, because for sure their price in that time will be more cheap too, but it really depends on the value of our money too, we don't know if our money will become worthless too just like what happened to Venezuela, so it's hard to know at the moment, but if possible, will invest in both.
People should make use of what they feel is much better and safer option for them. If you check and compare the graphs you will notice that Gold's price increase has been nearly uninterrupted, but Bitcoin has been falling heavily. A lot of people that pulled their money out from Bitcoin invested in stable coins like Tether to save their value and formulate new plans for going on Bitcoin for a longer term.
Anyone that wants to invest in Bitcoin should always have a good plan because Bitcoin is volatile and everything can spiral back down and you end up losing a huge percentage of your investment. If you invest at the right time you wouldn't really have to worry much. Gold is for those that doesn't even want to stress themselves about volatile market price.
Anyone that wants to invest in Bitcoin should always have a good plan because Bitcoin is volatile and everything can spiral back down and you end up losing a huge percentage of your investment. If you invest at the right time you wouldn't really have to worry much. Gold is for those that doesn't even want to stress themselves about volatile market price.
Can I choose both? I guess if I want a stable one who can guarantee security I will choose Gold but if I want a tremendous change of price up to 1500% then I will choose Bitcoin (but it can also fall on to its lowest price). I should put my money on something that will guarantee security and to something that will somehow make me rich.
i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.
so in this case?and with the response of community?still bitcoin is the choice of many.
Another thing is that in most countries you cannot just go and buy a gold bar to store it safely. Just golden jewelry, coins or papers proving the ownership of some gold stored somewhere. With BTC, you can store it with yourself. You can make a cold wallet and hide it from anyone, including authorities.
As well, in case of crisis, robber can steal your physical gold. Yet (unless they are well informed by someone) they will not steal your cold wallet (or will not get access to your hardware wallet), because they will not be aware of what is it.
I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:
https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/
Thoughts?
I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
so in this case?and with the response of community?still bitcoin is the choice of many.
when there is a global recession some countries will experience a crisis. and usually when a crisis occurs, the value of fiat money will fall. therefore we must have a good store of value that can be relied upon during a crisis and I chose bitcoin. bitcoin has been proven to save people from inflation during a crisis like what happened in venezuela most of its citizens currently use bitcoin to survive. gold is also good for storing value but I prefer bitcoin because bitcoin can provide huge benefits when bitcoin is pumping.
Gold as physical asset would be a good diversions of our investments while bitcoin was still at recession. With that ways, you can both manage your digital and physical asset to which of them will gain much better. In any situations you will be benefited each and every holdings you had brought up. That wouldn't be worthless, at least you knew where your funds was accumulated.
It feels like you put yourself at a safe situation to invest by both gold an bitcoin at the place. For me, one advantage of this is to make sure that if bitcoin loses its market price, you still have funds that is invested in gold. What would be a better idea is to balance the investment in a sense that when bitcoins price is getting low, then sell some of the gold you have to accumulate more bitcoins, and then vise versa, but the only hard decision you could do is to choose which investment is your main and the backup. It is like utilizing bitcoin and stable coins hand in hand.
both do have good potential for investment, but maybe the difference is only in price and investment risk. the most important thing is we can understand the concept of investment, so I think the benefits will come, because an investor's ability is needed for investment
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