Contrary to popular opinion , people are more worried about their health .
At the same time they cannot just stop everything and then start just relaxing at home , the government is not able to provide salaries for them at a time like this .
Saying how people should be more worried about health is not something that we are seeing from their point of view, the current society is all around money , you can only afford to stock up during quarantine if you have money .
So if they are worried about Bitcoins, about their investments , come on people they have to earn one way or the other , life never stops , nor does the taxes or other expenses.
Topic: Tyler Winklevoss: BTC is not a hedge to pandemics - page 2. (Read 478 times)
I agree with what he has said, he’s right. This is a global crisis and everything will be affected . Gold has been dropping in price after reaching as high as $54000+, it dropped down to $48000+ per kilo gram. So, the same way that Bitcoin is being influenced by the pandemic is how other stocks and assets are being affected. Right now, there are things that people are more worried about than stocks and assets like good and Bitcoin.
For now, the most important thing to the world is how to solve the outbreak that has taken place, people’s health is what matters most and not really all these. It’s when you have life that you talk about money.
For now, the most important thing to the world is how to solve the outbreak that has taken place, people’s health is what matters most and not really all these. It’s when you have life that you talk about money.
Even gold is not working as risk hedging right now. I dont know in what to invest
I agree with Tyler submission. A pandemic in the world is deadly to human, and when the whole of human race is been threatened by a pandemic which has no immediate solution the fear of death and what happens will cause everything to begin to collapse. Every investment class will be affected both real estate.
He was right, it is not only BTC who is facing a downfall today, but most of the industries around the world are also affected by the huge problem by the Corona Virus. this pandemic has brought a huge problem in the market and the worst part is, we don't know how long it will affect the crypto market. Most of the major cities are facing lockdown as of the moment and we don't know when will it end.
I don't think Bitcoin is at the point in its lifecycle where it can be considered a hedge against anything.
Right now, Bitcoin is still reliant on the internet. If that goes down, so too does Bitcoin.
Until we can get starlink going or some other network based satellite system, Bitcoin isn't completely safe, and will likely collapse when traditional markets do.
We need something that will enable Bitcoin to thrive even without internet or strong access to electricity. Offline wallets will only get us so far since they are unwieldy.
Right now, Bitcoin is still reliant on the internet. If that goes down, so too does Bitcoin.
Until we can get starlink going or some other network based satellite system, Bitcoin isn't completely safe, and will likely collapse when traditional markets do.
We need something that will enable Bitcoin to thrive even without internet or strong access to electricity. Offline wallets will only get us so far since they are unwieldy.
https://twitter.com/tylerwinklevoss/status/1239255301171314689
Do you agree on Tyler's view? personally, this is what we have seen obviously, when global markets are affected, every assets are going to be impacted as well, gold and oil for instance. And. this is new ground for bitcoin, we have never seen this before. The use case that we have witnessed is the Venezuela crisis, not a pandemic like this so I'm with agreement with him
Talking about gold, I'm not really sure (tho gold should be affected too). The last time I checked, gold price just had a slight decrease. Unlike bitcoin whose price has been sort of slashed in 2.
Bitcoin has not shown itself to be particularly stable in this situation, even if we compare it against oil, stocks, gold and other conservative assets. Therefore, I strongly doubt that if it shakes, then cryptocurrencies will be something significant.
With the way how every major market turns to south currently, yes, Tyler's views are actually of releveance. Everyone is panicking: supermarkets are being emptied of basic necessities and there are uncertaintiea everywhere. People are basically liquidating assets for fast cash to buy what they need, hence why most stocks and most cryptocurrencies are down. Hopefully this goes only short-term, and that vaccines would be out by the next 6 months. No one anticipated the outbreak anyways so panic really would be the initial response.
The price will recover & everything will return to normal once this virus dies out & people stop panicking like school girls. I think for sure bitcoin will trade at around $10,000 by the close of 2020.
Now is the time to be buying, not selling.
Now is the time to be buying, not selling.
Are you referring to the BTC price or the global economy? I don't think it's realistic to expect everything to return to normal if the pandemic ends in the next 3-4 months, which is kind of optimistic prognosis. Also, the virus will not die, it can just stop expanding the way it is does now (assuming that people develop immunity), or it can mutate. As for your observation "stop panicking like school girls", you should know that 300+ people die in Italy daily from COVID-19, and they are just in first month of epidemic.
I agree that now is good time for buying, but only if you have some extra money and you live in country where people do not pay fortune for simple protection mask or disinfectant. In my country pack of masks costs around 3 EUR, now the same pack is cost almost 65 EUR.
https://twitter.com/tylerwinklevoss/status/1239255301171314689
Do you agree on Tyler's view? personally, this is what we have seen obviously, when global markets are affected, every assets are going to be impacted as well, gold and oil for instance. And. this is new ground for bitcoin, we have never seen this before. The use case that we have witnessed is the Venezuela crisis, not a pandemic like this so I'm with agreement with him
Tyler was right, I'm still holding this - bcoz it is history right here
Well, he's obviously right that Bitcoin isn't a hedge against pandemics, I doubt anyone will argue with that today. But is Bitcoin a hedge again "fiat regimes"? This idea never been truly tested, I wouldn't count Zimbabwe or Venezuela as a proof, those are tiny local crises. If something like that happened with the west, and it caused similar economic crash as we are experience now, then maybe Bitcoin would react just like it reacts now.
Maybe we shouldn't say it is a hedge against fiat regimes, but rather that it was designed to be. That sort of widespread trust in money can't be built overnight -- it's based on both network effect and being time tested.
If the US dollar collapsed tomorrow, I don't think the world would flock to Bitcoin. 20 or 30 years from now, my answer may be different.
Well, he's obviously right that Bitcoin isn't a hedge against pandemics, I doubt anyone will argue with that today. But is Bitcoin a hedge again "fiat regimes"? This idea never been truly tested, I wouldn't count Zimbabwe or Venezuela as a proof, those are tiny local crises. If something like that happened with the west, and it caused similar economic crash as we are experience now, then maybe Bitcoin would react just like it reacts now. People don't want to hold something highly speculative and volatile during hard times.
Yes. The markets are expecting the pandemic to hinder growth and cause recession. That creates unfavorable investment conditions for stocks, commodities, and other investment assets. Investors are reducing market exposure and looking to government bonds and cash as a hedge.
That will always be the case, until there is a significant loss of confidence within fiat money systems. If major fiat currencies began to default and collapse, that would drive people en masse towards alternative forms of money that hedge against that risk. Gold or Bitcoin could be viable alternatives in that situation. In conventional economic crises, that won't happen.
He's completely right. But not only that, even if we ever get a fiat collapse any time soon, I think bitcoin would also tank anyway. It's simply too early and liquidity is too low for people to actually sort of "trust" the asset. In the long-term future though? That's where I'm really really bullish.
No, i don't think any fiat can pull bitcoin with it. That's the whole point.
For example if the USD fails, bitcoin price expressed in USD will go crazy up, then you can no longer reliable measure bitcoin performance using USD, you will need to switch to whatever fiat survives, or something different like gold.
Indeed if one of the major fiat fails, i think it might pull the other fiats, but not bitcoin, not too much anyway.
Bitcoin has performed quite well under the circumstances, and anyone with bitcoin should simply wait to the crisis to go over. Those without bitcoin, should take this opportunity to buy more, before their fiat money collapses. Even if it never collapses, bitcoin will recover to about where it was before the virus, eventually so its simply a matter of time.
People don't lose anything, unless they are playing at margin trading and did the wrong move. Margin trading is always very risky anyway.
Since Wuhan is already declaring end of virus, sooner than later China will restart production, and what you perceive as bear might suddendly turn bullish, if only to race buying cheap (anything) while it lasts...
This thing i'm sure: Even after an economy collapse, bitcoin will be there. But your fiat might now. Are you willing to take the risk? Yes the problem is that you have yet to experience a hyperinflation, you think it might never happen to you, your coin is just too strong to fail...
Bitcoin fluctuates, but its true and honest, while fiat and pegged coins (ie. "stable") are time bombs waiting to happen. IF it happens, you won't have time to flee into bitcoin, it would be too late.
So if bitcoin is no hedge, fiat is even less of a hedge, and stable coins are much worse. This is like a bank before a bankrun, all the trust you place in your bank won't save you if it does happen.
Winklevoss bros. are free to do and say whatever, they already made their money in the previous crisis. Did they miss this one? I think anyway paying attention acted in January when it was beginning, before it spread to the world.
Tyler Winklevoss believe what he is saying like he wants us to sell at cheap price? 
Not the kind of wisdom that will save someone from getting rekt. Despite them keeping their worthless EFT proposals there isn't a group of individuals who wants them shutup.
The media see this as pandemic yet HIV which were there for the longest time and have been killing lives were not consider pandemic. BS
Not the kind of wisdom that will save someone from getting rekt. Despite them keeping their worthless EFT proposals there isn't a group of individuals who wants them shutup. The media see this as pandemic yet HIV which were there for the longest time and have been killing lives were not consider pandemic. BS
Dafuq this guy has been buying the BTC since forever and fortunate enough to buy in bulk from unsuspecting seller, I think he is not even mind a -50% dip in price, but for the rest of us, we can’t even afford a -10% dump.
As others have said, bitcoin will recover, and when it does, it won't have taken negative interest rates and a couple of trillion dollars printed out of thin air in the name of "quantitative easing" to get there.
What really bothers me is that this pandemic will push the world into a new recession
Absolutely, and it is going to be horrific. Before 2008, the Fed's balance sheet was only around $800 billion, and interest rates were over 5%, which provided a lot of leeway for interest rates to be cut down to 0-0.5% and for the Fed to pump out almost $4 trillion in QE. The Fed had only just started to manage to reduce their balance sheet from 2008, and got it from $4.5 billion down to around $3.8 billion, before the overnight repo nonsense from the end of last year pushed it back up again. Now, in the space of a couple of weeks, they've cut interest rates twice back down to 0%, and they've committed to another $700 billion in QE, which will push their balance sheet back to an all time high of almost $5 trillion. The national debt and deficit are both rapidly increasing. The Fed have nowhere left to go other than negative interest rates and printing money even faster. The coming recession is going to be horrific, and USD is rapidly becoming worthless.$800billions in 2008 and $5 trillions in 2020 in Fed balance sheet, I know people are yelling at me “house price are soaring through the roof, paycheck are still the same.” Is it going to be true? The last 10 years we have just seen gold price to soar less than 2x, yet property price in third world China soaring to record high, I think it’s safe to assume 4-5x soar rate, almost at tandem with what the Fed balance sheet has to said.
Well, I completely hope so. Hopefully other countries like the U.S. and the Asian countries won't go the Italy route[1]. Yes I know that their granny/gramps population is high hence the high death toll, but still. I don't think we still have enough proof that the increased temperature was actually the cause of the "flattened curve" in China.
Yeah, a lot of theories and we won't probably know until the end...
Japan has an even older population than Italy and Tokyo was just as cold as Milan in February!
There are a lot of ifs and incomplete data we won't know it till summer kicks in or we're done with it.
What really bothers me is that this pandemic will push the world into a new recession, because many countries were already in a technical recession before COVID-19, and this is just something that definitely confirms that a very difficult period in the coming years awaits us.
What matters in the whole story is that the economy collapses very easily, but it takes years to rebuild.
What matters in the whole story is that the economy collapses very easily, but it takes years to rebuild.
Yes, this is the real problem and one you can't avoid by just not going out!
If the economy is down and jobs are lost, bitcoin or litecoin, that won't save your ass more than temporarily.
In the end, we use bitcoin for transfer of wealth, just like money, we buy stuff with bitcoins, the more stuff we have the more we buy and the more we use BTC
What if we don't have what to spend it on or we restrict what we buy, people that were selling some products even if only for BTC will be left with no buyers, they will shut down...
China is opening its factories back, good news.
Europe and the US are shutting down almost everything, who will buy all that stuff when everybody is just thinking of food?
I'm afraid this one will be worse than in 2007 if the trend is not inversed by the end of March.
Tyler Winklevoss believe what he is saying like he wants us to sell at cheap price? Not the kind of wisdom that will save someone from getting rekt. Despite them keeping their worthless EFT proposals there isn't a group of individuals who wants them shutup.
The media see this as pandemic yet HIV which were there for the longest time and have been killing lives were not consider pandemic. BS
Not the kind of wisdom that will save someone from getting rekt. Despite them keeping their worthless EFT proposals there isn't a group of individuals who wants them shutup. The media see this as pandemic yet HIV which were there for the longest time and have been killing lives were not consider pandemic. BS
we still have enough proof that the increased temperature was actually the cause of the "flattened curve" in China.
it is not the main reason but it helps a lot. like any other similar virus (Flue, common cold,...) we don't see them regularly in the hotter seasons.
Jump to: