Topic: Your wealth and options during the bad times (Read 241 times)

If the situation would be bad for those who are rich, how bad do you think it would be for people who are broke? You maybe right about the fact about properties being destroyed, but the op did mention Bitcoin right? If part of your money is being stored in bitcoin, as long as there is life, then you still have your money and would be able to survive after everything, and you’re better off than those who are holding physical assets in a location of war.

Imagine someone who has invested in houses as an asset they would be at loss. Owning a land might not be a bad asset, unless in a situation where the enemy takes over the conquered territory? Anyways, we should always make good plans and choose wisely.

You have some very bizarre and incorrect notions of reality. There must be something slightly wrong with you if you think that any country or person is handing out ferrari's or yacht's for free, this fantasy world you live in does not exist. The best thing you can do in troubled times is exactly what you should do in calmer times - invest in yourself, aim for a house purchase if this is appropriate in your country (gives greater stability), while trying to build an investment pot and pension if you can. If you invest in times of crisis you are able to pick up stocks in companies super cheap. This idea of yours is basically to "be rich already" which is hardly a plan at all.

By now, I believe, some are turning into crypto because they are finding the advantages of it during this kind of crisis, pandemic or war crisis or maybe any conflict. As they can carry it safely and securely, if they know how to handle crypto, anywhere in the world. They have the chance to exchange it if they need it. Because with tangible assets like real estate, you definitely can't bring it with you in the times of war. So you need a lightweight baggage that no one can suspect you that you are carrying something valuable. Precious jewelries may help you to get something, but this is hot in the eyes of corrupt officials or other people.

 I do not understand where do people who can save upto 6 months worth of salary live, and I do not know how much they are getting paid. For me, it is at most 1 month worth of savings, rest is either in debt, or locked for some investments. I mean sure if I cash out every single thing I own, then I would be able to live for a few years, but in that case thats not investment, thats liquidity waiting to be liquidated. My hope for my investment is not to cash it out one day, my hope is to keep it there forever. So if I end up with cashing out, then what was the point? What if I have to cash out during a bear market? I would even make a loss and that doesn't make sense. The money that I have, and I mean money, like fiat or stablecoin, can survive me for at max 1 month and thats it :/

Even before 2014, it was predicted that Russia would launch a military campaign against Ukraine. I agree that we should save for rainy days when they come, such as having enough money to last 6 months without a job, but the question now is whether you can still use the money at that time, such as investing your money in a bank, but when you are in a war zone, such as Ukraine, money is worthless, so it is best to invest in cryptocurrency because it can be used anywhere.

The after effects of war is very much destabilizing like both Ukraine and Russia feeling it. Now 2million Ukrainians have left their homes, investment and property to run for live. As they usually say when there is live their is hope for future. Sometimes investment is better when you do online type like cryptocurrency where you can save your password by yourself either to your email and can access it anywhere you have internet connection. But then it is wide saying though because no one plan for war.

What people like OP do not understand is that people do not live in luxury and spend too much money on luxurious stuff.

The inequality of the wealth between generations is the fact that people who are 60+ years old right now mainly got their first house for a month that was like worth 1 or at worst 2 years salary worth, nowadays most houses where I live are like 20 years worth of my salary, that means I should not own a house and accept that and move on? Why can't I have a voice and complain about the wealthy and the elite, when the average CEO made 300 times more than the worker just 30 years ago and now makes a million times more? That doesn't sound realistic.

Why am I forced to live with bad food and saving and noodles and barely doing anything at all and then save some money to own something? Why can't I live like people did 50 years ago and also end up owning a house and a car? It is people like OP that makes you question your spending habits, when it is only about being paid less than previous generations.

No place is ever safe in the world. Each country or state has its ups and downs. Who would ever believe that Ukraine will be hit by war upon her infrastructure and resources? This is why we should save up for rainy days by investing in crypto. Diversify your investment strategy. Don't save up your assets only by buying properties or in a bank.

My lifestyle is keep cash near me and some savings in a bank, just for emergency purposes. The larger part is in crypto currency as store of value.
Oh and another part is in gold, my wife's jewelries but those are hers.
I think it's important that our money/valuables are in different portions. Diversified. That way if anything bad happens you know there will something you can pull and be exchanged for something like food and necessities.

With everything turning towards the digital age people look for the convenience and the ease of usage. Upon that most of the third world country people prefer gold, and bonds. Slowly the transformation towards bitcoin and other cryptocurrencies will happen as the digital age is moving towards the new prospects of smartphone culture where everything is happening within the palm.

I am not really considering the current timing as bad for the investors in fact it’s truly opposite to this one. If we forget the bad timing for globe for example war, health issues, economic crisis etc we can not ignore the fact that crypto is set back to the previous point where world wanted to buy the crypto currencies and used to say they missed the train. Now the train is back on platform we should not be calling it as bad timings for it. It’s bad but for something good and if you are long term holder then you should be thinking straight to invest it today and await for long terms as usual. The profit will follow surely.

We all need cash and some money in our bank account and we can withdraw it at any time without any trouble.
Instead of feeling anxious about bad things that won't necessarily happen, we'd better stay focused on what we're doing and be prepared for all eventualities so that it's not too late for us to realize that things have changed.
Maybe later there will be some kind of reset that will happen in almost all countries but as long as we are ready, we can certainly follow it and don't be too worried because it could make us not realize that we are too late to follow the change.
The crisis may come but may not come, so be patient and continue to prepare yourself as best you can.

Saving in Bitcoin is cheaper and more convenient than those offshore banks. So you only need physical gold, enough cash, and Bitcoin just for precautionary/emergency stuff, just enough to survive the hardest moment. In the long run, these also won't be enough since you still need to work and generate income.

Cash for peoples who only have limited funds and only enough to meet daily needs
Crypto for peoples who already know it and have the ability to access and use it
Gold for peoples who still have more funds to be safe from inflation
Everything is needed but not everyone can choose which is best besides just being able to choose cash because it is needed to buy groceries.

Cash is king and you are saying this from experience? I thought you would be saying quite the opposite. If cash is king, then explain Ruble? Ruble is "cash". Not it is very rapidly losing its value. Maybe you can't buy shit the next day with it and due to the fiat currency slowly being useless, they will start accepting bitcoin. Cash is not the king during cases like this. Not even gold. The government can seize your gold during war. But if you store your bitcoin in wallets with private keys that only you own, no one can seize it. The price won't be affected based on the value of your local fiat currency.

We have been thru this exactly 2 years ago. Stock markets entering bear market territory. People buying guns and withdraw cash from ATMs. People saying stock market will crash and look what happened. Complete opposite.

Who knows what will happen next week. Could reach some agreement and stocks can rally again. In my opinion if you got some savings you can buy many stocks on sale right now. Air line stocks, Facebook, Peleton, luxury clothing companies, everything is a bargain.

Conspiracy theory or not, not all the people in the world will have the means to go there. Even if they have, they would probably be questioned on what purpose of the travel is. The local authorities there would be alerted when so much people go there to take cover. They would lock it to tourist if your theory is right as they could not accommodate people in the world. Another is money will not be worth anything when there will be no more farmers, common workers that are assigned to produce food. It will just be a piece of paper, even crypto would not survive, we couldn't eat computers and gadgets that hold our assets could we?

These places are safe exactly because it's not anyone who  can have access to those areas or pay for the costs of living there or acquiring citizenship. On the other hand, if it were easy to have access there, I doubt those countries and regions would be so safe like they are right now. Then they would look most probably like Paris, Berlin, Los Angeles or any other paradise of the progressive modern world.

When you are poor then you are into this situation then you wouldnt really be having any choice specially if you dont have buying capacity then you would surely took up some loan.
I do agree into the line that poor are poorer which is something that in reality.Speaking about wealth and options at bad times then you could still have your fiat just like on been
mentioned above and at the same time you could secure some of your assets on crypto form or in gold depending on what you do prefer.It isnt really hard to seek out for options
as long you do have the money to store on.

Undoubtedly very hard times are coming. High inflation is approaching on a world scale. The invasion of Ukraine made us take a step back when we were hoping a year ago for the crypto and bitcoin community to have a better year full of more adoptions.

Rich people may lose something in this time but people with less purchasing power will most likely lose a lot.

Sadly, in times of inflation the poor are poorer. Experts recommend paying off debts, not applying for loans.

Cash can be kept on hand or your own vault, there's no need to transfer and deposit it offshore.

While for bitcoin, it's easy to keep as long as you hold the private key but it's better be kept if you own a hardware wallet. I don't have gold but I have my bitcoin being held.

That's better than gold IMHO because it's very liquid and easy to sell if you're in need in cash and easy to carry wherever we go through my private keys.

Maybe, but all of those preppers who've been stocking up on nonperishable food, supplies, guns & ammo, and land don't seem to be as crazy as they did maybe a year or two ago, do they?  My point is that while money (even crypto) can go to zero, there's always going to be valuable things in times of economic or political crisis--and that's always been true.

I don't disagree that having some cash on hand is a bad idea.  Even if you don't trust fiat it's not going to lose all of its value overnight, and if you plan on buying any of those things I mentioned above, it's best not to be caught short of cash when you need it.  That said, I'm hoping this current crisis in Ukraine resolves itself peacefully and that economic armageddon doesn't strike them, Russia, or the rest of the world.  We're all interlinked more than we probably realize, but just take a look at gas prices for an example of how true that is.  If the situation worsens, we're all vulnerable to one degree or another.

If u have a lot cash then crypto but small ammount cash in pocket for sure.
People never understood during the crisis cash is always king crypto is good to store your value for sure.
Gold is good when good times like inflation but during crisis real crisis nobody dont want ur gold really.
Cash some food even the noddles...have value of gold.

In times of crisis also its good to have bank card outside of ur country ...for example crypto card revelout card is also good one as u never know how ur local banks will behave and function.

I will talk from my experience from Ukraine - cash is king, you don't know where will you be in the next day and if local stores accept digital payments or not. Gold is quite illiquid on practice, and it's more prone to theft than crypto which can be hidden and secured with encryption. So Bitcoin is quite a good store of value, if you know what you are doing.

I totally disagree with this, money cannot buy everything, money can't buy peace, and those that has money and properties were also affected in this ongoing war. All physical assets and investment are being destroyed, the owner even is not safe because of panic in the ongoing crisis,


That is if you set your priority on that, the year is still long as we just in the first quarter, there's nothing above the power of possibility and change,  you can't acquire the future you don't admire.



I don't know where you get this theories from but the first safest place on earth is in your heart which is your mind, and the safest people  on earth could have been the elite (rich) but reverse is the case.

What u need specually right now
Have some coins crypto have some gold and cash.
In bad times those who not think about this things have likely less change to survive.
2022 will be economically survivaiol of the fittest.
"Its a financial hunger games kind of time"

Dont need to say about concpiracy theories or about elite by the time you will find out about that it will be too late.

If u have just cash it might not be enough diversion of assets and crypto is the way to go.
Elite knows it will be survivaiol of strongest in this economic collapse the great depression 1930 was just walk in the park.
But elite bankers knows they can not save people as population all ready exeeds % 50% of people will be wiped off like a dust.

Safe places locations are:
Monaco, south france, st tropez cannes, italy some part of italy like porto cervo switzerland.
Those places will be untouched and banking system all others willl work fine there if you go there there one person have enough money to feed all country also you can get drive to ferrari or yacht for free as they have so many yachts and luxury cars they can just give away.
And off course during world wars those places never touched but also who sell military equipment for everyone and organize merchants..dont ask where are they located.

By the time you find out what is our world really are it will be too late for you.