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Topic: Will people start moving their savings to Bitcoin in case of a financial crash? - page 6. (Read 3526 times)

legendary
Activity: 3514
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Don't think something like this is ever going to occur, as people have always thought that during a financial crash the best place for your money is probably going to be sitting in banks (FDIC insured of course) as you're not going to lose out in any situation like that, given that you don't have any money held up in the stock market or anything else along those lines. Though, some people may argue that they'd rather their money be in something that is going to yield you money during a financial meltdown, which could be something along the lines of gold

I thought the Cyprus haircut taught people a good lesson

But it seems that it should be taught every now and then on a more or less consistent basis since people still blindly believe in banks and that their money cannot be confiscated (or stolen) by the government itself. That's basically the reason why gold, obsolete gold is still highly popular among folks. This is not something which can be easily taken away from you, this is not something which can be stripped off of all or most value by some rogue government (in this respect Bitcoin smells good too)
hero member
Activity: 700
Merit: 500
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

It would be a smart investment I believe for many people to have their future outlays of money be put into BTC.

Sure it makes sense when the price is going up an up and away! But is the price of BTC going to continue to go up this year?it is possible that it will stay flat for awhile. You do not want to risk putting your savings into something that can flatline or drop to zero. Savings are usually something that has a lower amount of return but is considered very safe.

All we need is another MTGOX and there go a bunch of peoples value on BTC unfortunately...
legendary
Activity: 1386
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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
We do really experience crash in past decades but still it stood still and gradually become strong and i wont really suggest that we should put all of our money on bitcoin because its really a risky thing to do on a certain individual.I would more believe that bitcoin would easily be crashed compared on our economy as of today.It might crash but can still able to recover up no matter what and thats financial system works backed by government.
hero member
Activity: 1638
Merit: 576
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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

Some of the blog sites nowadays are full of hoaxes or fraudulent claims, they often fabricate stories to generate some decent traffic. I wouldn't necessarily take what you read in the media seriously, as probably at least 70% of it is either dramatized, or blown way out of proportion. Stupidly, the weak hands see this news, and think their savings are essential good as gone unless they act now. The same doesn't happen with fiat, so why does it happen with crypto?
legendary
Activity: 1666
Merit: 1285
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Don't think something like this is ever going to occur, as people have always thought that during a financial crash the best place for your money is probably going to be sitting in banks (FDIC insured of course) as you're not going to lose out in any situation like that, given that you don't have any money held up in the stock market or anything else along those lines. Though, some people may argue that they'd rather their money be in something that is going to yield you money during a financial meltdown, which could be something along the lines of gold.

I just don't think I can see BTC being used during this in the least, as BTC still needs many banks at the moment and during financial issues such as a crash these banks are usually the ones hit hardest.
full member
Activity: 224
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All fiat money and currencies can't collapse at once and even if they do I don't think cryptocurrencies will be a go to option. But I'm saving it anyway, just in case)
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
Look at the history of financial markets and you will see these markets CRASH more or less every 10 years. < Dot Kom crash and the Property bubble > So this is inevitable and no real CRASH, but rather a small RESET for the markets to balance and correct themselves. In these times people ran to traditional commodities like Gold and Silver to protect their wealth. Now we have a new boy on the block and it has the same features as Gold & Silver. We already see people running to Bitcoin, when governments mess with the local fiat currencies and we will see more examples of this in future. ^smile^

Gold & Silver is not the ultimate Safe Heaven for wealth. < Governments has banned and confiscated Gold & Silver ownership before >
legendary
Activity: 3248
Merit: 1070
this same collapse was predicted so many time it's not funny anymore, and it did not happen each tiem it was predicted, i guess eventually some fiat will crash in the future

but thinking that all the fiat will crash and people start to move on bitcoin is silly, they will play the same game about printing more money out of thin air and paying the debt with more debt
hero member
Activity: 1190
Merit: 534
Yes, I have seen it in my country when the government banned largest valued fiat currency note. It is observed that people moved their wealth in crypto currencies, especially in the bitcoin so I don't think that people around the world would hesitate to go with it if there is any financial crash.

* Demonetisation: Bitcoin trading at 25% premium in India amid high demand | Business Standard News.

* Bitcoin hits highest level post demonetisation : Mail Today, News - India Today.

* India's Demonetization Is Causing Bitcoin To Surge Inside The Country.

legendary
Activity: 3472
Merit: 10611
the economical collapse prediction is nothing new. i don't know why they still do it! it is always the same thing and it never happens (fortunately or not).
and no people won't start moving their savings to bitcoin because bitcoin is not the only thing out there that is considered safe haven, there are lots of things such as Gold,... which people trust more or know more than they know and trust bitcoin. but there will be a growth in demand for bitcoin for sure.
hero member
Activity: 490
Merit: 501
Those are actually warning for economic collapse or akin to what happened in 2008 where major financial establishments thought to be too big to fail actually suffered great financial problems. In our global economy, anything can happen it is because a country's financial woes can affect other countries due to financial exposure.

It is quite possible that we can be experiencing financial problems in years to come but as to what year and the magnitude of that...that maybe hard to predict at all.

Will an economic turmoil push Bitcoin or will it also join the collapse? Well, that is beyond for us to predict.
hero member
Activity: 3164
Merit: 937
Small local financial crashes are good for bitcoin,but a major world crash like the great depression might hit
cryptocurrencies as well.
I don`t think that people will trust a cryptocurrency when the major crash happens.
They will most likely buy gold and silver.
hero member
Activity: 1106
Merit: 503
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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

First of all
Quote
The page you have requested might no longer exist, has had its name changed, or is temporarily unavailable.

Secondly, I think its already happening, whenever we see some crisis in any part of the world, the price of BTC increases. I always felt that its the people who are trying to put in their savings.
hero member
Activity: 2044
Merit: 784
Leading Crypto Sports Betting & Casino Platform
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.
legendary
Activity: 1358
Merit: 1093
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
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