Topic: The only safe haven currency is Bitcoin (Read 1792 times)
Bitcoin indeed is a great alternative for cash, gold, and silver. But, besides BTC, there are many cryptocurrencies we can invest in for profitable outcomes. Given the volatility of bitcoin, we cannot predict the future of this currency.
Cryptocurrency is a highly volatile digital asset and, therefore, we cannot say it as a safe haven currency or we can not predict any of the currency as a secure one to play but Bitcoin is a smartly growing, lasting currency for sure.
.............even bitcoins can be hacked, through an unsecured exchange.
In my opinion, it is not bitcoin can be hacked, all coins in the market can be hacked or stolen. So from that the safest place is to store bitcoin in the paper wallet because it is not connected to the internet, and I have done it and it is very safe.
What I sit up at night and wonder about is if everything in this world goes to shit and fiat is gone, will we have enough infrastructure left to support btc? Would gold even matter that much?
currently i would give you a NO. but i don't expect that fiat will go within the next years. they try everything to hold it alive. this will take a bit more time, till the mass notice on what fiat is currently based and how this shit works. most people have no idea and they arent interested in it
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Why many governments are classing Bitcoin as a property & not a Currency?
You have a good point on everything that you have said as advantages of Bitcoin for different scenarios and I want to answer your question with my personal opinion.
I think why they consider Bitcoin as asset or propery because it is not yet considered as currency. Assets like Gold or Land is usually changing in greater value in a span of time.
I think Bitcoin will be especially a good haven once the other markets get stormy... Check out this article, explains it white well!
https://coincodex.com/article/4689/can-bitcoin-be-considered-as-a-safe-haven-in-2019/
https://coincodex.com/article/4689/can-bitcoin-be-considered-as-a-safe-haven-in-2019/
The change in system has made digital currencies much more precious and handy than physical cash. Bitcoin is much better because you do not need to carry a lot of money when going somewhere else.
Bitcoin is most reliable and safe crypto currency as compared to other cryptocurrencies. It is the first cryptocurrency in the world and it has already created its own value. Bitcoin is known almost all over the world and bitcoin itself has nearly 50% market share of the whole crypto market.
For Bitcoin, there are both advantages and disadvantages. Check these:
Advantages:
1. Can be easily moved from one place to another
2. Protected against inflation
3. Protected against asset seizure (to some extent)
4. Decentralized
5. Can't be banned
Disadvantages:
1. Legality in doubt in the majority of the nations
2. Vulnerable to hacks and robberies
3. Not easily convertible to fiat
4. Not accepted everywhere as a direct payment mode
5. Confirmations take time
Advantages:
1. Can be easily moved from one place to another
2. Protected against inflation
3. Protected against asset seizure (to some extent)
4. Decentralized
5. Can't be banned
Disadvantages:
1. Legality in doubt in the majority of the nations
2. Vulnerable to hacks and robberies
3. Not easily convertible to fiat
4. Not accepted everywhere as a direct payment mode
5. Confirmations take time
What I sit up at night and wonder about is if everything in this world goes to shit and fiat is gone, will we have enough infrastructure left to support btc? Would gold even matter that much?
Bitcoin has been confirmed as the best safe haven currency in the world with the following reasons.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
Many countries have begun to recognize bitcoin as a digital asset. Bitcoin is difficult to be recognized by the government as a currency because the government certainly does not want the dominance of its currency to be disturbed by bitcoin. I think, recognition as a digital asset is good for bitcoin because it will give investors confidence
Each country may have different policies related to the currency used as a payment method. Like here, in my place, there is no other currency that can be used as a payment tool except the local currency. Even the mighty USD cannot be used as a payment tool here, let alone bitcoin. So, treating bitcoin as an asset is already the better option for now.
Bitcoin has been confirmed as the best safe haven currency in the world with the following reasons.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
Having a moniker like "Safe Haven" is really alarming. First of all, we know Bitcoin is integrated by using Blockchain Technology which has a high security system but all of other Cryptocurrency is also integrated using Blockchain but they are having news about being hacked, scammed and lost of data. We can never be too sure and that is why we need to stay careful about picking or choosing the Cryptocurrency that we will support and follow. We can still call Bitcoin safe because it is only hacked thru the carelessness of users.
I monitor bitcoin easily changing and the price can change at any time, the government does not dare to legalize bitcoin, the government considers bitcoin property and not currency.
That needs to be changed cause it is far from a reason why it was created, supposedly it gonna be used as a currency but people often to consider this as an asset/investment. Anyway, there is something to consider why it never uses as a currency in some areas instead just because it never been supported by their government and don't have establishments accepted crypto as a mode of payment. They'll have nothing to do but to convert it into fiat before they can use it.
In fact, today nobody really carries large sums of money with them, because many people use bank cards to pay their bills or buy goods. In order to better use the cryptocurrency as a means of payment, you need to have the appropriate infrastructure, because not all places where I can spend real money provide an opportunity to use cryptocurrency.
Bitcoin is the safest haven currency because it is absolutely yours. You own it. Nobody else has access and power over it except yourself. And when a world war breaks out, your fiat is going to be intercepted at the airport. There's only a maximum allowed. Your gold and silver and other jewelries have to be registered and taxed as well, and there's probably another maximum value. Your Bitcoins, however, are unknown to whoever is screening your belongings.
When Bitcoin works the way it's intended, sure. The only problem I see is that majority of people don't even know how to use Bitcoin properly. I'm not even talking about so complicated measures like manually doing CPFP or whatever, I'm even just talking about reviving a wallet from private keys.
Bitcoin is the safest haven currency because it is absolutely yours. You own it. Nobody else has access and power over it except yourself. And when a world war breaks out, your fiat is going to be intercepted at the airport. There's only a maximum allowed. Your gold and silver and other jewelries have to be registered and taxed as well, and there's probably another maximum value. Your Bitcoins, however, are unknown to whoever is screening your belongings.
When Bitcoin works the way it's intended, sure. The only problem I see is that majority of people don't even know how to use Bitcoin properly. I'm not even talking about so complicated measures like manually doing CPFP or whatever, I'm even just talking about reviving a wallet from private keys.
Is it? You can't say any cryptocurrency or any digital asset as a safe haven, that safe crown has biting spikes that can lead you to bleed. The safe drive is the only advice for any crypto trader.
Bitcoin has been confirmed as the best safe haven currency in the world with the following reasons.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.
2) The only one Currency not controlled by a government or bank.
3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.
My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.
Many countries have begun to recognize bitcoin as a digital asset. Bitcoin is difficult to be recognized by the government as a currency because the government certainly does not want the dominance of its currency to be disturbed by bitcoin. I think, recognition as a digital asset is good for bitcoin because it will give investors confidence
Bitcoin is the existence of wealth, outside of life it is gold, diamonds. It seems that if you participate in illegal activities, the BTC will be your shelter currency. For me, USD is really a refuge currency when the market is not stable. If war happens, it is likely that the value of bitcoin will increase sharply because transnational trade crimes will occur regularly, especially in the sale of weapons.
Bitcoin is the safest haven currency because it is absolutely yours. You own it. Nobody else has access and power over it except yourself. And when a world war breaks out, your fiat is going to be intercepted at the airport. There's only a maximum allowed. Your gold and silver and other jewelries have to be registered and taxed as well, and there's probably another maximum value. Your Bitcoins, however, are unknown to whoever is screening your belongings.
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