Topic: Will people start moving their savings to Bitcoin in case of a financial crash? - page 3. (Read 3526 times)
June 29, 2017, 02:33:52 AM
possible, but i think it will depend on how the people know about bitcoin or how information they have to fully trust bitcoin and see it as a good way to divert their assets incase that will happen.
June 29, 2017, 02:19:29 AM
In the case of a financial crash commodities like gold and silver also crash. Bitcoin would as well. The difference is the rate of recovery and growth. After the 2008 financial crash gold also crashed but it quickly recovered and kept rising for years because it took time for people to recover their faith the financial markets.
Also when we realize there is a crash its usually too late for the small fry like us to react.
Also when we realize there is a crash its usually too late for the small fry like us to react.
June 28, 2017, 11:22:45 PM
There are lots of speculation of this kind of matter, yet nothing was proved it is because it is just a rumor just to make some issues even collapses of economy rises, dead of ones money. Actually to be honest bitcoin is not that ready to face entire world to cover up human needs especially for transactions because once it is published now many will be dump, bitcoins still need to prove itself more than what it has now.
June 27, 2017, 09:00:53 PM
Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."
http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
If the market crash, bitcoin will also crash. Even though bitcoin may be decentralized and not reliant on fiat currency, if that crashes or becomes worthless, who do you think will trust bitcoin as their payment method. Bitcoin does profit off small market crashes, but a big market crash will certaintly not be benifical to anyone. This crash that you are talking about is very impossible and their is barely any proof about this
June 27, 2017, 08:54:47 PM
Many people in countries like Venezuela are already using Bitcoin to protect their store of value. The hyperinflation and economic uncertainty is crazy at the moment. One day BTC could mean survival or dying of starvation to some of these folks.
June 26, 2017, 11:38:39 AM
Many people in countries like Venezuela are already using Bitcoin to protect their store of value. The hyperinflation and economic uncertainty is crazy at the moment. One day BTC could mean survival or dying of starvation to some of these folks.
June 26, 2017, 11:32:11 AM
You also do realize that this magical crash that you are speaking of is pretty much impossible at this point right? After 1972, with the fall of the gold standard, the fate of the FIAT world is in direct control of the government and they will do what needs to be done to appear to not be a dire straits when they come.
June 25, 2017, 11:31:54 AM
Gold can be quickly made illegal
If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms
I refute this stand,no government will make gold illegal,but there will be restrictions in place on the amount of gold an individual can hold,in case of a financial crises gold is still the most secure investment method when the entire economy keeps tumbling and expect these sort of meltdown without any major warnings.I would definitely save my assets in the crypto market as well as in gold when there is a situation like that.If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms
I don't think that there will be such limitations
In fact, I don't really think that any government (at least, that of any developed country) will be looking to outright ban gold at all. Nevertheless, they will likely impose severe limits on how much gold can be moved out of country up to a point basically equal to a complete ban on such cross-border transfers. Governments won't be able to control how much gold a certain person keeps, that would be an exercise in stupidity and futility, but they can easily confiscate gold in, say, airports and other places via which gold can be moved out of country
June 25, 2017, 04:27:21 AM
Gold can be quickly made illegal
If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms
I refute this stand,no government will make gold illegal,but there will be restrictions in place on the amount of gold an individual can hold,in case of a financial crises gold is still the most secure investment method when the entire economy keeps tumbling and expect these sort of meltdown without any major warnings.I would definitely save my assets in the crypto market as well as in gold when there is a situation like that. If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms
June 24, 2017, 10:59:04 PM
Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."
http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
Well just like one of the fud nowadays. Spreading false information just to make the community go panic about the situation.
Like just what's up with this thing? Are you benefiting here?
Moreover, there are golds to invest and lil' bitcoin will be fine.
June 24, 2017, 10:43:22 PM
I think its just a fud just to make a panic in those holder who will read it and believe it,he is doing it for her self only to buy more low valued bitcoins for storage on his wallet and for his future
June 24, 2017, 10:36:56 PM
In the case of a traditional market financial crash, bitcoin might not be the best option as a safe haven asset. Consider: not too many places actually accept bitcoin, they facilitate bitcoin remission by accepting fiat in exchange for your bitcoin, from a third party exchange. If fiats are disrupted, so would your ability to convert to a fiat through one of these payment portals. You would be worth a lot on paper, but the challenge of converting that virtual value to real world value might prove daunting in such a financially troubled time 
Stick to physical stores of value in times of crisis. Precious metals, goods and tools, and land. You can always sell them after said crisis, they most likely will have appreciated
Stick to physical stores of value in times of crisis. Precious metals, goods and tools, and land. You can always sell them after said crisis, they most likely will have appreciated
June 24, 2017, 10:27:47 PM
I don't believe on it. Since much time ago experts say things about market crashes, that world economy will colapse... But the true is there is always solution and ways to avoid big crashes, that is why there are economists in the governments.
But no doubt bitcoin is a good investment to put savings, I just don't think to put all the money you have in bitcoins is a good idea.
Everything ends, no exceptions, that is the rule, to think the economic markets can go on forever is a mistake many do because they do not look at things from an historical perspective, just look at all the empires that fell, and with them their economies fell to, remember just because the economy of your country fails and sinks, it does not mean you need to sink with it as well.But no doubt bitcoin is a good investment to put savings, I just don't think to put all the money you have in bitcoins is a good idea.
June 20, 2017, 09:19:26 AM
Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."
http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
I hope it will not gonna happen in next few years. I'm starting moving my money into bitcoin but not all my money. In our life, we live to survive. In our world, we would say "Survival of the Fittest" so if you gonna win every struggle you are the fittest among us. It is the same situation in money or what we say fiat money. I think the government will hold and control the money to avoid using bitcoin. http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
June 20, 2017, 09:09:57 AM
I don't know about others but I already invested part of my savings in bitcoin.
People are generally skeptic about new things and technology.
I know some people who are afraid to use internet banking or to shop over the internet, so such scenario will not happen soon for the most people, I'm afraid.
Some brave and smart people, like us, are already doing this, investing our savings in bitcoin but we can't know how many of us.
People are generally skeptic about new things and technology.
I know some people who are afraid to use internet banking or to shop over the internet, so such scenario will not happen soon for the most people, I'm afraid.
Some brave and smart people, like us, are already doing this, investing our savings in bitcoin but we can't know how many of us.
June 20, 2017, 09:01:37 AM
At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment
In a financial crises it is better to move your assets to gold and there will be a huge influx of investment in the crypto market as well,the fact remains that there is no other viable options to move your money when there is a economic crises because everything will be affected. So my better option still convert my money into gold or other well known investment that have been legalized by goverment
June 20, 2017, 08:44:50 AM
As long as people are uneducated about cryto there's no way that people will start moving their life savings into bitcoin or antoher crypto. Even if there will be another crash. And here's why. You need to understand that people have worked their asses of for maybe the majority of their life so they want to keep it as safe as possible
This is rarely the case in real life though
If people have been working and saving every penny for decades, it doesn't mean that they are in any way protected from Ponzi schemes, HYIPs and similar scams. History knows quite a few cases when folks poured their life time savings into such fraudulent investment operations only to lose all in the end. This has more to do with psychological traits of a person and common sense rather than how long it took to gather some monies. Though I admit that there is still indirect relationship between financial prudence and saving. In other words, people which save are more reasonable, cautious and suspicious on average than those who just waste their income altogether and live paycheck-to-paycheck (or even on credit)
June 20, 2017, 06:57:37 AM
Yeah, people are going to flock to an unproven, fairly new asset, and one that has nothing backing it up except popularity. Sounds legit.
Bitcoin isn't a safe haven asset, and panicked investors will flee to gold and bonds in the event of a disaster, just like they always do. And people have been predicting the end ever since the beginning. And they'll keep doing so. When the end comes none of us will see it coming.
Bitcoin isn't a safe haven asset, and panicked investors will flee to gold and bonds in the event of a disaster, just like they always do. And people have been predicting the end ever since the beginning. And they'll keep doing so. When the end comes none of us will see it coming.
June 20, 2017, 06:56:42 AM
As i known we are already doing those, we had mooved our savings into crypto on the last years, bitcoin is the digital gold and with a lot potencial. Bitcoin is being used for savings of some people, sure financial crash would affect all but its a good moment to invest over crypto to avoid those.
June 20, 2017, 06:53:19 AM
As long as people are uneducated about cryto there's no way that people will start moving their life savings into bitcoin or antoher crypto. Even if there will be another crash. And here's why. You need to understand that people have worked their asses of for maybe the majority of their life so they want to keep it as safe as possible. Right now bitcoin is not user friendly enough to attract the majority of people (e.g the bitcoin addresses are too confusing). You have to realize there are still a lot of people who have trouble using a computer, including my parents. But I believe at some point people will start to move their money into bitcoin and if that happens, o boy, we're not going to the moon but to another galaxy.
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