Tyler Winklevoss: BTC is not a hedge to pandemics - page 3.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: BrewMaster on March 16, 2020, 01:00:00 PM

i am not so sure about that. things remain bad as long as the virus is being spread at a fast speed. in a couple of months with increasing temperatures it will stop growing (it already did in China) and things could simply go back to normal.

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.

[1] https://qz.com/1819064/coronavirus-deaths-and-infections-globally-surpass-china/

BrewMaster

legendary

Activity: 2114

Merit: 1292

There is trouble abrewing

Quote from: Lucius on March 16, 2020, 10:47:49 AM

What really bothers me is that this pandemic will push the world into a new recession,

i am not so sure about that. things remain bad as long as the virus is being spread at a fast speed. in a couple of months with increasing temperatures it will stop growing (it already did in China) and things could simply go back to normal.
a big reason for all these drops is the closed boarders and every business/company that shut down to go to quarantine. them coming back will put everything back in its previous stage.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

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.

avikz

legendary

Activity: 3080

Merit: 1500

I don't consider bitcoin as a hedge for anything at all. It's great that Tyler has the guts to speak up truth in public forum, but bitcoin isn't a hedge for anything. It looks good as a parallel economy thriving within the internet ecosystem. It's a great asset for speculators to ride the wave and make money. But it's not a hedge in any way! For hedge, I would look for something more steady in pricing!

o_e_l_e_o

legendary

Activity: 2268

Merit: 18587

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.

Quote from: Lucius on March 16, 2020, 10:47:49 AM

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.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: Baofeng on March 16, 2020, 10:20:19 AM

Do you agree on Tyler's view?

Yes. Absolutely. And it's very much to his credit as the usual Twitter pumpers aren't being realists about this, or haven't taken the time to consider it.

Things will be back on track at some point and when the smoke has cleared conventional economics will be more zombified than anyone thought possible. That's when Bitcoin's qualities count. Until then it's getting pounded in the backside like everything else.

Even then this should be a reminder of what most Bitcoin owners REALLY think which is - gimme more dollarinis. If there's no dollars then they're outta here. That needs to change before it can ascend to a more viable level.

It doesn't matter what Bitcoin is capable of if the people buying and selling it don't care about it.

DeathAngel

legendary

Activity: 3080

Merit: 1593

#1 VIP Crypto Casino

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.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

One need not be too wise to reach such a conclusion, it is enough to look at the actual data to see that for example gold is down around 6% in last 30 days, and that oil is first go down for 20%, and today 10% more.

It is all a market response to a completely unknown situation, and unfortunately a lot of people in this panic will lose their money, but there is no doubt that some will get rich after all. 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.

The Sceptical Chymist

legendary

Activity: 3332

Merit: 6809

Cashback 15%

I agree with him as far as bitcoin not being immune to this crisis, which it obviously hasn't been. I'm not sure what he means about bitcoin being a hedge against fiat, unless he means fiat's collapse--he certainly can't mean against inflation of fiat currencies, because bitcoin's volatility alone knocks that right out the window.

Anyway, everything is getting slammed right now and it'll probably get worse before it gets better. But the optimist in me is happy that bitcoin didn't get pounded down into the triple digits (yet). It's still higher than it was at the beginning of 2019, so that's not too bad.

rdluffy

legendary

Activity: 2226

Merit: 1304

I totally agree, people are saying BTC is supposing to perform well against this crisis, but it's a global crisis, related to health, why people should be worried about BTC and not with haleth / food / medical care / family / regular job?

It's weird how people act during crisis

Baofeng

legendary

Activity: 2576

Merit: 1655

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

Topic: Tyler Winklevoss: BTC is not a hedge to pandemics - page 3. (Read 470 times)