Bitcoin Forum

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

Rich people don't need to get ready for economic crash in my views. People like Elon Musk who is buying bitcoins and other cryptocurrencies then using his money to manipulate the market , it's not like he is worried about making some money, no , the thing is they have enough and even if there is an economic situation they would survive very easily the only thing would be the middle class and the poor people, who don't have anything much , no backup , no nothing.
More or so there are some interesting views of the US government on the economic status , they even give stimulus to the rich people instead of just distributing it to everyone who needs it for real. I do believe that them getting for an economic crash should not be a matter of discussion rather we should teach the people in need how to use their economic power , what power they have over their own financial situation how they can stay away from marker manipulation and have a backup plan.

Plus the USD might collapse and at the same time decrease by 20-30% in value , on the other hand there are other countries like China making immense profits by selling fake masks ! Let's see what happens world is right now in a turmoil.

Yes rich people need crash
Rich people like Elon must got no skills.
When you take money from him he cant do nothing.
So rich are interested to see big crash then to buy more cheap asssets property will fall like 50% stocks will fall 60% and crypto. 90%
But this how the rich make money

The institutions and some company is buying Bitcoin right now, they didn't sell it right now so far. Probably they want to manipulate and make fun about the market, as anyone would predict Bitcoin will reach $50K by FOMO. So, many people right now is buying Bitcoin since they think Bitcoin can "make money" by invest on it.

Then you already know how "rich people" make money, they buy an asset when the price is drop due to big crash. So, you don't need to confide again about rich and money :P

Yes its just the big crash not yet but maybe small crash.
But otherwise the banks not selling or helping to sell crypto to poor and middle class

It tells that big big super crash is coming

It is impossible, when the economic crash, only the poor get screwed, there isn’t an economics crisis for the elite, they’re telling all of you poor people your time is up, for ehem... you know that they’re ready to screw your life.

Well if crisis amd crash then rich got money to buy cheap
Crisis for them its just time when they buy everything

But look the speed how much money is printed crypto is pumped stock market is pumped
But before there is no new money coming the smart money start selling 1 year before the crash if there is big assets to sell it takes time to sell if they sell with one shot the market will fall down too fast
They wanna keep prices high and still selling a lot

I think you really hope for destruction for others, can you have the desire to revive the economy, without having to say that others need to be destroyed. here we as traders will side by side, the rich will raise the price of a coin and you are ready to sell it. Isn't there a correlation where ordinary people take advantage of the circumstances created by rich people like Elon Musk.

This is something which Michael Saylor has been preaching. There is no doubt that
there will be negative economic consequences because of the central banks response
to the financial effects of COVID-19 and the most viable place to store wealth is
Bitciun as well as Gold in second place.

Your post is contradictory, many countries are going into crypto-currency that seems to be correct, but that can't make Fiat rich people go broke. I think the more Fiat you have before crypto-currency the better of you can be when you get into crypto-currency, Elon musk is an example of that, and he is still very wealthy after crypto-currency.

What a bunch of nonsense op. Did you predict the housing collapse too? Stop throwing out wild statements without providing any sort of adequate proof.

The primary reason why the crypto market is blooming currently is COVID-19 in my opinion and many others would agree with me. This pandemic basically proved why digital cryptocurrencies are a necessity at present.

The current trend isn't inorganic like the trend back in 2017. BTC and other popular cryptocurrencies are growing organically which is why I disagree with your statement.

No no  if any stocks or crypto going up for this spmeone must pay for high price.
This 50 k for btc was the btc most owner imside buy sell

So the grayscale bought it from grayscale
50% deal

So why do you need to be worried about what the rich people are doing? Bitcoin can be bought by rich and poor people and both can use it for a store of value in times when there are economic hardship. The rich will diversify into Gold and Silver too ...but poor people cannot afford to do that, so they look for ways like Bitcoin... where they can buy a few Dollars worth and still get the same result.  ;)

I know some people who are buying $10 per week and I know they are struggling... so this is a lot for them. They say the potential profit from a "Moon" price is more appealing than the 1 or 2% interest that they might get in a Bank.  ::)

If btc will drop 90%  then we all need to worry
The biggest hit is coming

That's why they say that rich people are getting richer because they could manipulate every situation for their own benefit. Money is power for them so they could take control of everything. If the economic crash happens, they will still take advantage of it for them to earn more.

In my opinion, the economic crisis of 2020-2021 is a very unusual economic crisis. 

Usually, an economic crisis is a crisis of overproduction - it arises from the fact that enterprises have produced an excessive amount of goods.  The reason for the current crisis is completely different.  There is too much extra money in the world that is not backed by the manufactured products.  This is a crisis of overproduction of money. 

Accordingly, the growth of assets (stocks and cryptocurrencies) is not abnormal.  In the current state of affairs, this is a natural phenomenon.

For a 90% drop there has to be a gain first if we're talking about a normal market cycle.

If a 90% drop happens out of nowhere it means the fundamentals have failed somehow or something influenced the market like this black swan event.

If it happens in a healthy cycle we first need to go up high and fast for people to start feeling fearful. Now they're all confident with the recent news about institutional investments and bitcoin steady climbing up but without incredible spikes in short time like in 2013 and 2017.

Yes this is true overdose of money !

I read an article a few months back that looked at asset allocation of the richest families in USA and found that on average the richest families where selling stocks and bonds and switching into Cash. That is definitely a strong believe towards another crash coming. I think switching some assets out of high risk positions into cash and crypto currencies could be a good idea. Holding cryptos is already a good preparation for the next crash.

Crypto is risk assset like gold in crash it will fall.
Cash fiat and stable coins are safe.

They are rich guys, but they'll prefer to buy cheap asset and wanted to gain huge profit during bullrun. Most folks who desires to buy only in trending situations, unlike the whales their mindset is different from average people who is able to do long term trading holds. I think they already have taken back enough profit these days, so buying time is now ready for them.

This is nothing really new, people complain all the time about those that are rich but many of them got in that position by being smarter, at least in economic terms than the majority, they can see that there has been a massive creation of money by governments all around the world, and they know this is going to create inflation and they are trying to look for assets that protects them from that inflation and bitcoin is a very good solution for that, I'm pretty sure that they do not want the economy to crash because they are doing great now but in the case it happens they can still retain a great deal of their wealth and maybe even increase it in the process.

The crash comes of overdose of money

i dont think so coz i believe that the economy is getting ready to boost to its greatest strength & will dominate

Rich people do always take advantage of every opportunity that will generate profit in order to make their network larger. BUT I guess things are not the same in this industry. it is impossible to predict the next crash because the market is volatile in its nature. Also, it will be nonsense for them to sell crypto at this moment with anticipation of the crash, because if that is their motive, they are also throwing away the opportunity to earn more given that there is always a tendency for the price to go up. Maybe, those who are selling at this point are just securing the profit and are not aiming for more, as simple as it will sound.

I don't think that it means that it could crash already. They already have enough and more people buying in means more demand and they could get more money with it for sure. Institutions might have the capacity to buy a lot but do you think they are willing to manipulate the market? I don't think so.

You know, this should've happened already when BTC has reached its significant ATH around $21K back then. Because if what you're saying is going to happen, middle-class people buying, then it should've happened when everyone was FOMO.

So what is your theory here, do you think the richest people are waiting for the financial crisis or the crypto market crash. There is no way you can predict how the economic situation will be in the next few months and if there is a financial crisis then you will see more investment coming in the bitcoin market as they will probably sell of their stocks if there is a correction and if you fear you have the option to stay away from the market altogether.

I think rich people like Elon Mask come to market for very short time. He just come to boom the market by tweet as he target one coin like DOGE earlier and then tweet. He knows that after his tweet market much be boom and we see the reflection. I think they can do anything in market. So no doubt that one day for more benefit he my gone for down the market and middle class investors will be loser. nothing else.

Can I ask where you got this information from? Elon Musk bought bitcoin and now everyone thinks that the rich are preparing for an economic collapse. If you claim such a thing, please provide at least some proof of your words.

-One Internet Personality who also happened to be a very rich CEO buys bitcoin
-People happy because it pumped the coin without even being a bit skeptical about why he chose to do so.
Don't mean to offend anybody but ignorance is indeed bliss. We may have not known yet what his or the other affluent figures are planning at/for after rallying bitcoin purchase to the extreme, but it's sure as hell obvious that they are cooking something that may not be as nice to us small-time investors as we are hoping it to be.

It just like the well know phrase "the rich get richer and the poor get poorer" but I think the OP don't understand that the rich people have already get ready for economic crash before now because almost all of them I have invested in Gold mining before now. However, the invested in cryptocurreny not to put their investment in one basket.

When the governments starts cracking down on rich people who are using Bitcoin, I think that's the time when the crash starts. When their internal revenue is starting to collect tax from the profit of cashing out BTC, this is when rich people will start dumping and hiding their way on DEX. But just like what OP is thinking, all these are just theories.  Elon Musk and Mike Saylor seem very confident of the market though. I think we are yet not seeing crash.

In my opinion, not all of the richest people are ready for an economic crash, because there are some of the richest people who are not very good
at managing their wealth. That's why quite a few of the richest people experienced a financial crisis when the COVID-19 pandemic created
a global economic crisis. Actually, to be ready to face the economic crash, the richest people must be able to manage their wealth,  in order to survive
and make his wealth increase even more. Therefore the selection of assets for investment is very important, choosing the wrong asset can make
they lose a lot of money.

Although, cryptocurrency presented the potential to make people financial sovereignty but if won't make everyone to be rich these are the thought of newbies before which make them lost their money neither will it end human suffering caused if there is human suffering we may not see any new innovation. Satoshi created Bitcoin through the suffering people are experiencing through inflation.

When there are many people who buy and sell, the economy will continue to rotate and with the movement that continues, the economy will not be destroyed. If so many people doing that destroys the economy, I think the destruction has happened long ago and every time. The rich and poor at least will continue to run and whoever can take advantage of their position well, of course their economy will continue to be good, and vice versa. So take care and improve your current position so that destruction does not happen to anyone.

Getting ready for what? Something that they caused? And wanted to be?

Economic crash doesn't exist for rich people and for those who are the main figures in financial sectors, economic crash means nothing for people who are in government and feed themselves from government budget (remember, we fill this budget, we work hard to make their life better and financially careless).

Maybe one day Elon Musk will say that USD is the best currency to buy and economic crush won't happen. He has so high influence on people, that's not even a normal.

Unlike crypto Cash and fiat crashing right now because of too much inflation fiat currency circulating around

Idea is not bad but the fact is you have money and you have the right to spend it at your own will. There are many rich people and banks are investing in cryptocurrency because they have it and they are willingly doing it.

But the whole things can be changed if the middle class and lower class people will buy crypto then we may face the new revolution of cashless society hopefully.

I think it's obvious, that an economic crash isn't going to benefit anyone. However, upper-class and influential people will be affected the least, it's poor people, which will suffer the consequences. Rich people usually have back-up plans, so they acquire different corporate equities, precious metals, crypto, realty for all of life's emergencies. That's why they'd stand the crash if there was any. Other people don't have this opportunity.

Moreover, considering the situation, where rich people would also lose everything - what good will it do? Have you ever thought that many of them apart from just being rich build companies and, thus, create workspaces? If there were only governmental institutions there wouldn't be enough places for everyone to work, and, also, commercial companies nearly always suggest a better working environment and a higher salary. So it would be a lose-lose situation, no one should wish for that to happen.

It doesn't matter if there is an economic crash, the rich people will survive that. They have the money to curtail the effects, the pandemic is considered an economic downturn and the rich people have already recovered a long time ago. Another good example is the 2008 crash in US where the Wallstreet people are still well and alive even though a lot of people has suffer the economic crash. They are not getting ready, they are ready and they know that they won't be affected by the crash.

We are already in a crisis, right? Many establishments are crashing down at this moment but I don't think that crypto is the solution for this. I know that these owners wouldn't like to invest in crypto, they are most preferred to wait for the economy to recover and start over again.

If we saw some companies are adopting crypto now, it does not mean that they are preparing for the economic crash but they are doing this because they saw the potential in crypto investment. They saw that this could be in demand for the coming days, and so they are anticipating it now before it has gone too late.

I see an even more extreme thing that currently those who invest in Crypto are only looking for new fortunes in anti-mainstream investments. Those who firmly say Bitcoin is a scam are buying crypto. It seems like I am investing in crypto for fun. But the positive thing that can be taken is that we are experiencing hype that will end up who knows how long. And this is quite an advantage for many parties.

As for now, richest people is not going any further upon selling their acquired cryptocurrencies for at times like this, many people are still into hype on buying cryptocurrencies that they can afford to buy on which we can expect more purchases and holdings to happen for many are still expecting that the crypto market can grow even more providing more possible profits for their part. Richest people are always ready for anytime in economic crash because surely they won't get there into their positions if they do not have lots of experiences to survive, improve or maintain their capacity of being rich. Surely many people are aware of the possibility of unexpected economic crash and everybody have their own ways and plans on how to deal with it once it comes right in front of us.

I don't think rich people (very rich people at top of the top) are in need of readiness for economic crash. Most of them invested a lot in real gold and real estate as security to back their future. Cryptocurrencies are just speculative playground for them to get quick bucks.
So in summary they don't need to anything special to survive economic crash. And I don't trust them - I think people shouldn't be so happy that they are buying coins. They always play big and it is dangerous for us.

Real estate dont bring much of a security in real estate bubble. Prices of real estates could drop few times when crash happen. Gold is still king. It is fungible after all.

We all know that the economy crashes from time to time, that is to be expected however there are different kind of crashes and there seems to be enough evidence I think to believe that the next crash that we are going to experiment is going to be a systemic one, it will require all of the most powerful governments around the world to make a new deal about how the economy will begin to work from now on and that is because fiat currencies are showing great weakness and the governments are not helping them by creating more and more of it every single day.

Although the market crash is inevitable but don't think it'll be happening anything soon. The market is too bullish for a crash to come spoil everything now. The bull season would probably last untill early next year or at least the end of the year before any bearish market becomes a trend. We're yet to see the best of Institutional investors pouring their funds into the industry. There would be some corrections there and here but that doesn't mean we'll be bearish.

Few days ago there was a correction but the market recovered very fast and now we're trading above the $50k mark that was looking very challenging to cross. Corrections like this will occur to build momentum for next milestone to be be crossed until probably the $100k milestone is crossed.

What you should be cautious of right now are the corrections, don't fall victim to the tricks the institutional investors would be trying to pour off. They'll want to buy cheap found as they'll try manipulating the market but you can't avoid this by not paying attention to the market but just been a hodler.

How did you come to this conclusion that the economy is going to crash again? I mean economic crashes do happen when some unrest is going on, which we have already went through. In fact we are now in a recovery stage which is actually good really good. I don't think we are going to see another crash anytime soon. If that happens, things are going to get messed up.
Makes no sense. Why crypto currencies become a "cheap asset" after selling to average people? To make it a cheap asset, they will have to sell it for cheap, which would be stupid of them.
Lol, what?

I disagree.
How come with just simple reasoning they will start dumping anything?
No, I don't think that is the key to make them sell whatever asset they hold.
Since someone on the other end is still buying, the value won't drop just yet.
Plus, they will need to worry about "competitors". (another group of rich people) If this group have a goal of increasing the value more by holding it then risk will go higher for the sellers that you mentioned.

The collapse will definitely happen, but I don't think it will happen soon... Not so many people are buying cryptocurrency now... I don't know too many people who ask about bitcoin or moreover altcoins growth, in 2017 there were much more of them! So I think we are just at the beginning of the coming rally! Not sure about bitcoin, but altcoins are definitely just starting to rise!

So to sell large volumes you need to get a lot of people interested! ;)

I don't understand why you are thinking about this and why you can tell if they have prepared that person in advance when you are not them. Who is rich? Please answer to OP, the economic crisis is inevitable if the current developments are not resolved. I believe this situation will be worse in the future. And there will be a lot of complications, I've always assumed that people with real money know how to create and control things.

This is probably how it is. In the US, the dollar is printed in very large quantities, the same is done in Europe and probably in some other countries. All this threatens them with high inflation, which means there will be a collapse of production. Where to get so much free money? Of course, buy various assets on them, for example, cryptocurrencies. It is very likely that very soon, something will happen and it will be something bad. What should we do? I believe that we also need to try, if possible, to distribute our investments among different assets and closely monitor what is happening in the world.

We all are humans and when we see market crash, if feels fear in our heart and we see sell thinking we should not lose the profit which we already have gained. The only way to keep ourself safe from these situations is to keep ourself away from the charts and prices. This way there will be no stress on our mind if there is a temporary market crash.

They only care about profits. Institutional investors and big investors have their own strategies to gain profits out of the market. People like Elon musk have influenced so just think what will happen if he announced that he bounty 1 billion in bitcoin. Surely it will pump and he announces that after he brought his BTC. That means he brought cheap and then use his influences to increase its price. That's what they are doing now.

We have no way to know when the crash will happen, but what we do know is that it is coming, the pandemic has left governments around the world with debts that are basically impossible to pay and the more money they print the more difficult it is to pay them, we are getting to the point in which it is getting difficult for them just to pay the interest and once they reach that level that is when the crisis will begin to unfold, so I really recommend people to keep holding their bitcoin as most likely the price we are going to witness is going to be many times higher than what we have seen so far.

Rich people are getting ready for an economic crash, not because they're afraid that their wealth would be negatively affected, but to stock up even more. Their goal is to buy assets at a much lower price, and hence when the economy recovers from the decline, they'll be even richer. Wealthy people like to manipulate and play the trend of the market. They have the confidence to buy in an instant to control the price movements to their advantage. The market is wrapped around the fingers of the elites. The people who should be ready for the crash are the middle class and lower class people. These people are the usual ones who suffer since they have just enough or close to having none.

I dont think they need to prepare. As far as I know, rich people have enough money to survive even at the most uncertain times. The crash is much certain to happen but it seems that this will not have a great impact to economies. Small time traders would go to work now and probably it would create a small effect in price.

Enough "airy idea". Countries print money, the richest sell the cue ball for FIAT to increase their stocks of unsecured cut paper? Why can't they buy assets with the paper they have? Or maybe they want to infect everyone through bitcoin with a virus, and Bill Gates rules this? And for the virus to take root better, they also build 6G mobile networks! Sorry - but the thought is very similar to the "world conspiracy" :)

The truly wealthy elite will never buy into "digital" assets, because they know in a economic collapse, those assets are worthless. They are the people who are buying physical Gold and Silver and also shares in companies that would survive. (Food / Medicine / Alcohol etc.)

Look at what happened yesterday... The big guns inflated the Bitcoin price, but they bought before this happened... then they start dumping and taking profit and the price goes down... giving them a opportunity to do it again. (Weak hands fold quickly)  :P

are you talking to economy or just pure crypto ? because both of them are i think wont share the effects but we do all prepare for any economic crash not just rich people .

 how can rich people know that the buyers of btc that they are selling is poor nor not ? but if there are banks and institutions involed and add in the average people that will invest , i cant imagine how will that make the price dump but the price can rather pump if they are going to buy all together  .

Well if we are honest any person in their position will do the same, after all if you know that a crash is coming and as a person there is nothing you can do to avert it then you might as well not only get out of it intact but why not take advantage of it? In a way we are doing the same thing, we do not believe in fiat currencies and we know that sooner or later a crash is basically inevitable, and we are holding our bitcoin hoping not only to maintain our wealth but also to increase it, because as we know once a crisis like that comes there is a huge wealth transfer from those that do not have hard assets to those that have them.

Therefore, you need to find good in every bad fact and event. If the global economic crisis starts soon, people already know a lot about cryptocurrency thanks to the coronavirus pandemic and are prepared to invest in cryptocurrency. In this case, the prices of cryptocurrency will rise very sharply, because many will want to save their money from inflation. And any economic crisis will inevitably lead in the future to the recovery of the world economy.

The truly wealthy was ready for economic crash a long time ago and the businesses that they are investing in are on footholds to increase their influence when a collapse happens. Precious metals are just a way for them to curtail the possibility of being affected by the economic collapse, you know, like being able to prevent the collapse while it is still at its infancy. The rich knows how the market works and this manipulation is nothing new, this is what those investment companies have been doing in stock markets.

The way it is ! And from the soles, everyone will shine into the crown of the head with a special ray, so that everyone does everything as it should, and do not do it as it should not! And also - foil will soon disappear from the sale, so that people cannot protect themselves with the help of foil hats! Take care of this secret! :)

https://i.ibb.co/M9bktZM/240px-E7c56894d07ac4067471c1b4257.jpg (https://imgbb.com/)

Many rich people buy bitcoin to inflate the price of bitcoin but if they do not know how to use it properly they will face economic disaster. Bitcoin is not comparable to gold and silver no matter how rich you are you need to know how to invest in digital currency and stock market companies however, many rich people have been able to overcome their economic woes by investing in bitcoin. Despite the economic downturn the high value of bitcoin has created opportunities for citizens to develop its power technology is constantly changing our lives.

Economic crashes always benefit the rich, because those who have a lot of money can buy a variety of assets at low prices when economic crash.
Like cryptocurrencies, many rich people can manipulate cryptocurrency prices. In order for the crypto price to crash and the rich will buy at a cheap
price, like now the price of Bitcoin is dropping, making the rich benefit. Rich people are always ready in any condition, because having a lot of
money is indeed powerful.

That is the way it has always been, I remember reading a book long time ago and one of the recommendations it gave to young people was to not spend your money in dumb stuff and instead save it, and then wait for one of those opportunities that only appears once every decade, if you do that then you can earn a lot of money relatively quickly, but most people never follow that advice and have no savings so they cannot take advantage of opportunities like buying bitcoin or some assets when the economy is crashing.

You forgot one thing, the more you have the more you can lose! Economic crashes benefit only the ones who create them, and they create it for one purpose, to oppose control and to change some players! So big players fall, and some of them fall hard! It's the thing with flying, the higher you go, the harder fall it is! So don't be fooled by the power of money, it's not so powerful if you don't know what you are doing!
When the economic crash happens many get a hit! Many never recover from that hit! In the end, when you don't have much you can't lose a lot...it doesn't hurt as when rich ones lose everything they have, that can hurt a lot!
Having a lot of money can be a mistake if you are holding the wrong currency! It's why people who diversify have more luck to survive!

Why for more than half month you seems like silent ? where is the post here and there about Fud and drama with your Buddy ?

are you already Banned from the forum? sad but that's much better for the community because too much drama coming from you two.
What does it mean about right using ? lol People don't need to use it now because the price of bitcoin is increasing by Holding more and more .

though circulation is a must for this crypto to prove its Usage and not just a store value.

When you are still young your mindsets are different.

You always aiming to enjoy and live a life you wanted to have,those advise from financial people are being ignored but when you already coming to age and you start planning your life, then you realize that what if you start things in a much earlier stage, you have time that's the reality, any crashed happened will bring good opportunites when you have enough spare to use.

Yeah, unfortunately there are too many idiots in the world and they are always going for something that would "explain it all" when everything we see is basically the same as what it is, there is no hidden agenda or anything like that.

Definitely there could be some governments trying to find an inner path to other nations secrets and all that, but it is not that "secret" anymore neither, we know nations sends agents to uncover stuff, that is what KGB was that is what CIA/FBI or whatever, MI6 and so forth all those places did, that is the only thing we do not know and just learn decades later, aside from that life is just as you know without any secret agenda, a vaccine is just a vaccine, a mobile phone is just a mobile phone, nobody tries to control you, and you can prove that by doing anything you want, whatever it is, and if you can that means you are not controlled.

Obviously the rich think about the fact that a catastrophe of a world currency fall could occur, some have already taken forecasts, they have bought Physical Gold, Digital Gold, they have diversified in Real Estate, and many investors who have always invested in the Stock Market and in Gold they have massively migrated to Bitcoin.

Of course, there are many programs, documentaries that predict a global decline in the economy, especially between 2020-2021, they still continue, they believe that the fall will be much greater than that of 2008 and the entire crisis created by mortgage bonds, if it is so it will be very strong, it is always good to diversify into assets that will remain despite.

Everything that is taken as preventive measures so as not to be left empty-handed, I am in favor that apart from all diversification, you have to have cash, it is not known how serious a possible fall could be.

I agree that our mentality changes depending on our age, but when it comes to saving money and investing we need to start as soon as possible, it is also known that the biggest difference among those that become successful and those that do not is that those that become successful when it comes to investing start their journey as early as possible, in fact we have several cases of very young people that invested in bitcoin a gift they received in cash and now they are millionaires, while this is not common this should show the power of beginning your journey early, and even if we are not so young anymore it is never late to begin to save so we can improve our future.

There's no hard thing about the economic crash for the richest people, they don't even buy bitcoin just of thinking for the future about the economic crash, it is just for investment and trying what bitcoin could go so far. They are just making fun of the market, only poor people will suffer if an economic crash happens because they don't have something to buy for their needs in daily lives.

There is a really different mindset between rich people and poor people, the rich have a great advantage when disaster happens and they will take every opportunity to still earn money. Just like what just happened when the pandemic started, a lot of poor people suffered because of it, some lost their job and faced different problems, which is different from the mindset of rich people, with the situation we had (pandemic) they have thought of creating some business and take this as an opportunity like buying to direct supplier of the mask and sell it to the normal customer. The richest person is really smart at these things and they know how they could earn and get profit from buying bitcoin.

I agree, cash is a necessity, but I want to add to this one thing. Because of economic crash, cash can start losing its purchasing power very quickly, so it's impossible to stock up enough cash for, say, next 10 years. What's enough today might not be enough in the future.

Regarding the "upcoming economic crisis", I recall watching a documentary where economists were saying that, historically speaking, every next global economic crisis was dealt with easier/better than any previous one. I believe them.

He simply knows how to deal with business, once he shows interest he's

followers are also showing the same, he's good in taking out money to whatever

venue he's chooses to work with. It's very important to have a good set back plans

as rich people continue to collect money while those who are already poor keeps

having more problem as they don't have enough resources to continue and survive.

However, if rich people sell their stocks and bonds and take in cash, this is still incomprehensible to me. With the onset of an economic crisis, cash is the first to be hit by inflation. However, if then cash is invested somewhere, including in cryptocurrency, then there is logic in these actions.
By the way, the fact that large business structures have now begun to invest in cryptocurrency may be one of the ways to prepare for the upcoming economic crisis.

     I highly doubt that the richest people all over the world are preparing diligently for economic crashes since they won't be affected that much if it ever happens. And come to think of it, these rich people may not really care about this industry and are just here for something new and fun which is why they invest. I won't be surprised if manipulation on market prices ever occurred in the future because if the rich people want it, then they can take it or make it happen. I guess they wanna have fun and all by testing new waters. (nothing but a conspiracy theory of mine)

Don't take this guy's threads seriously. Every single thread this guy starts is just made up nonsense. He never posts any sources or anything to back up the claims, just posts things without the slightest regard for reality. It's crazy that people give them any attention at all.

Have you ever figured out why? I mean this and he probably has a few more accounts because you can see the similarities in few accounts, accounts all start topics like this and leave. Usually he doesn't even reply to people neither, he just creates topics that make no sense and leaves.

I guess there is this "bitcointalk is dying" situation where there may not be as much messages here as there used to be, and that makes me feel a bit scared about the fact that this guy could be hired by theymos to create topics here and there to get more attention or make it look like there is interest.

Look at how many topics there are in bitcointalk, there is really not that much, back in the day we had few new topics every single day, now we are lucky if we have one. Maybe that's why he was hired? I do not know the reason to be honest but it never really made sense to me.

It seems that we have different opinions. I think Richest people always preparing for the future that is good or bad. They always ready, but no one can predict the future. This pandemic situation is one of the examples. In my oppinion the best way secure ourselves from economic crash is by buy more land and other property. However most of economic activity always need material things. But invest in bitcoin and other cryptocurrencies is still my best decision.