Bitcoin Forum

Bitcoin can definitely be a great and effective step to deal with our financial crisis if your psychological thinking can develop consciousness. Bitcoin Bazaar is unstable and many people have different opinions and feel unrest in the risk of Bitcoin's price riseHowever, in this case your psychological thinking can play a very important role, if you plan long -term investment, Bitcoin can be effective and great in dealing with your financial crisis and improving the financial situation. Names from different countries of the world at presentThe organizations are adopting this digital currency as a transaction area Through this Bitcoin, one country is creating a field of transactions with another country through low fees, which is playing an important role in the country's internal financial crisis.

Some awareness measures of a person can create Bitcoin investment fields in the long run.  Some extremists think that Bitcoin can't deal with the financial crisis in the global market? I think this is possible, in this case we need a healthy and financial plan.

Do you browse the meaning of financial crisis before you began to writeup what you posted?


Not just bank but stocks and other tradable assets included. Their prices to fall significantly because investors panicked and sold their assets.


How can bitcoin prevent this?

I'm not sure if you are talking of bitcoin as an asset and store of value, if you do of course it is for those investors who have identified the opportunity of investing into bitcoin long-term to ripe that profit benefits instead of keeping their money in banks and get stagnant or reduced value due to inflation. Surely bitcoin is the store of value that doesn't have external control over your financial freedom. If you hodl bitcoin, it is better than hodling fiat because inflation will reduce the value and worth.

From what you said about the meaning of financial crisis, then Bitcoin cannot prevent it since it's something that happens in the bank, stocks, commodities, as well as anything that stores values right?

The question would have been, how can investors prevent financial crisis because assets cannot automatically sell off after a heavy fear, it's investors that control the buy and sell button.

Yes.

Even bitcoin has bear season.

Firstly this is a Nigerian local board you can also write in pidgin because reading your post let's just say there can be more improvement.
You talked about financial crisis via the topic but the body of the post was quite different.
To just add if you are looking for an investment opportunity Gold is also a good source. Sometimes you guys gas light Bitcoin so much that to onlookers they believe that they can come in and get immediate treasures.

They make Bitcoin look as if it is a rocket pilot to wealth and that they don't need to do anything or take any action before they can become rich through Bitcoin, most of them make such assumptions based on the fact that they lack the right knowledge of what bitcoin is and how risky it can be if you don't have the right knowledge before investments.

No asset comes with no or less stress to make profits from them and as for bitcoin, its volatility makes it an investment of higher risk compared to other commodities such as gold.

I no really get your point but my chipping small here.
Like I always always don dey talk, to dey use bitcoin for international payments go help to dey reduce transactions fees
Imagine going to the bank to send like $100 to send person abroad and bank go dey charge you via percentage of the amount you dey send out but bitcoin go only charge you as that certain amount of $100 to when you want send even $1,000,000 plus without evaluating da amount you dey send unlike the fiats.
Na why using bitcoin for payments good.

And there type are those since they don’t have the proper knowledge and went to the market with misinformation they fall under the category of people who will also hurry out if it with abusive words on Bitcoin they don’t waste time to start calling it scam after they got disappoint from getting rich quick as they expected.

Bitcoin has made a lot of people financially stable there's no doubt about that but for a second let's forget the overhype and face reality, Bitcoin has also made some people broke, that's what crypto is all about. At any moment can hit a huge rise and big dip. Bitcoin isn't the only thing that resolve financial Crisis, this is why I said that it's just overhyped. Truth be told, not everyone would invest in Bitcoin because not everyone has the interest in it but this doesn't mean that they would not find other areas that can yield productive results over time.

What's overhyped about Bitcoin here? its a very simple stuff and people who goes broke are those who don't understand the working of Bitcoin. when you lose or sell in dip market, the lost goes to no body. if not a betting site that when you lose the bookies enjoy. Bitcoin don't  need your hyping, it has hyped it self several times. Like i always tell people, bitcoin investment is not a daily trading, its a long term patient investment. and do n not use money for your business to invest with the hope to withdraw in few days, you will crash. The gain in Bitcoin is in holding for long time. Ask those that bought bitcoin in 2020 when it we below $20k, today they have made enough money for holding for long period. you only lose when you don't hold  for long. so Bitcoin hasn't make any people who understand it broke, rather it has enriched many from poverty.

Thank you very much for bringing it to his notice, what he don't understand is that, just like this forum, there are rules and regulations governing certain things and when you go  against them you'll end up failing, what I'm trying to say is that the best way to follow bitcoin is through investment and if you don't investment of it the right way you'll end up losing and blaming bitcoin for your failure to follow due process. Also I hope he knows that bitcoin is ranking 7th position in the largest global asset and doesn't need any hype, it's not some ponzi scheme that use the help of paid actors for ads and to convince then scam their victims, it's an asset and best for investment and if you do it the right way, with patience and for long-term then you'll profit from it, it's as understandable as that.

Firstly we need to understand that Bitcoin isn't here to alleviate poverty crisis neither is it a path to getting people rich quick,  it's supposed to serve as a financial solution where Fiat cannot really work and that's why it has got a decentralised nature unlike the Fiat that's centralised and same time it's tries as much as possible to fight inflation unlike Fiat that's always affected by the slightest inflation,  there are some peculiarities with bitcoin that can never be found with Fiat and so Bitcoin should not be seen in such light.  Bitcoin can actually be a toll for economical advancement nad improvement but not to solve a financial problem of individuals, although investing in bitcoin has helped alleviate the financial situation of some individuals but it's not the sole aim of Bitcoin as its scope is way beyond such limitation.

They aren't wrong with that assumption because Bitcoin isn't a saviour that was sent from heaven to come and eradicate poverty from the world, Bitcoin is just like any another currency but what makes it stand out of the crowd it's because of his unique characteristics that other currency don't have. I'm talking about it's decentralized nature and finite supply that makes it very valuable overtime. Bitcoin is a currency and can only work as an assets because the more people are getting to invest in it, the less supply we have available on the market and it keeps on adding value to Bitcoin. Financial crisis has nothing to do with Bitcoin.

Let me ask this question, imagine 90% of the global population are holding Bitcoin, of course the price will be so high because of the demand. What will happen if everybody decides to sell at the same interval? This is the literally the mentality of few people who have find it difficult to invest in Bitcoin. Bitcoin has become global but they fail to understand that even if it has been preached to far and wide not everyone who heard about was interested in owning a piece. Almost everyone knows about Gold but not all owns some.

Dont mind my enthusiasm but i was more impressed when you said finite supply. In market capitalization it shows that it is not possible that everyone globally  holds 1 Bitcoin in possession their will be any left. It is limited this is why the value keeps increasing over time as people keeps buying it.

How do you mean Bitcoin can deal with financial crisis, dealing with financial crisis is not among the reason why Bitcoin was created because if actually it was created for that reason ( deal with financial crisis) I think some people wouldn't have been still struggling to survive because Bitcoin has stayed over 10 years now. The fact that some countries are now using it as an alternative to normal Fiat does mean it will deal with financial crisis rather it is just a way of trying to legalize it.

I think you are referring to trading and investment but do you know that you need money to start trading and investment and trading on the other hand is very risky, you don't expect someone that don't have money to go into trading unless you want the person to run mad or become useless.

Yes, looking at the current state of Bitcoin, we can see that it can easily solve the financial problems of a country. But we have to remember that Bitcoin was not created to deal with financial crises. It was created to transact money in a decentralized way. Bitcoin was created to maintain financial freedom of people.

But in my opinion, some things are not always right for the purpose for which they are invented. Bitcoin is one of them. Based on the current situation and market demand, the price of Bitcoin has increased. So now we can use Bitcoin to solve the financial crisis of a country if we want

How is that possible and how will it be done.

How much has bitcoin solved financial crisis with countries that have legalized it? I think we need to understand the characteristics of bitcoin and its purpose.

If you mean solving financial crisis except you are talking of banks collapse or not able to dispense cash and probably bitcoin or other cryptocurrency are used on the alternative for transactions which is the primary purpose of bitcoin.

What financial crisis? Or you mean creating of jobs, how? These are not the original purpose of bitcoin but with the creative understand of human nature, bitcoin is now seen as assets, tradable value etc.

But regards to financial crisis, I can relate with using Bitcoin as alternative with banks inefficiency.

The conscious step would be to build a portfolio by accumulating Bitcoin and look forward to the future when you can be more successful financially. Imagine if you started Bitcoin today and you could complete a circle or you would call your failure to succeed. Bitcoin will not make you rich if you do not understand its care and do not take conscious action to save from alternative income. If your mindset is properly aligned and you are ready to invest, Bitcoin will be your guide to achieving something great. Maintaining a discretionary income, floating cash fund or emergency fund are all important investments for your long term. The absence of just one will prevent the effectiveness from being successful. Part of a sound financial plan will be how to hold your Bitcoin for the long term.

Op I will be very happy is you detail me on what you mean by Bitcoin being an effective step in dealing with our financial crisis as you said?
Have you also thought of people that can't afford any penny to invest in Bitcoin though I know that everyone can actually invest in Bitcoin once they have the information and the available gadgets they can open their wallet with, available income or saving a little they can for the purpose of investing in Bitcoin and I also know that every investment is about determination and how ready an individual is to really get involved.
Op I will also like to get some clarity on how Bitcoin can deal with the financial crisis in the global? May be I don't understand you on that.
No offense buddy just a harmless question thats seeking for a good explanation and nothing more.

"Inflation will reduce the value and worth of your money when you  hodl fiat" you said but have you also thought of the part that the value of your Bitcoin can as well decrease if if Bitcoin suffers a major dip? These are the things you consider before finalizing on which of them is better. Bitcoin I'll always maintain is a good means of storing value when you want to leave it for a more than four-year period but unless you're a daily trader who's concerned about taking your daily profits by deep-studying the daily movement of the market, buying Bitcoin with the hope of making profits within a short period of time isn't ideal of you ask me

When inflation is consuming our real resources, Bitcoin can have a huge alternative financial hedge for investors positively for investors as a repository. The effort that is actually making for wealth as well as to allocate additional money for Bitcoin. Preparing for the independent economy and waiting for the future recession period by Bitcoin compared to keeping your money in the trap of decreasing worth. Considering the store of value for Bitcoin investment and maintaining every review of the possibility of Fiat effectiveness.

E really dey absorbing after realizing say when we store our money for bank for example, #100 and in one year time we still meet am that #100 and think say we don just secure our money. What of value where we need spend on like buying of things? Shey e go don lost values because u calculating say that #100 of today say see wetin u go use am do in one year time no fit work out like that.
But if stored in bitcoin being potential of values, that #100 fit increase where e go bring profits for you and then even when price of things you plans for am increase in future, e go still perform wetin u project for am and money to still remain way you for use achieve other tins.

Bitcoin is not a get rich quick scheme and i am happy for that. If not the rumor of it being a get rich scheme would have solidify the proof for government to take quick actions against Bitcoin. These type of failed investors will always fail in any other investment they get their hands on and the reason is because they dont understand what investment is all about before thinking on what to invest in.

Bitcoin was originally proposed in solving problems in the financial sector especially when it comes to sending and receiving money and the boundaries that existed especially with banks or third parties that was the premise upon which bitcoin was birthed so anyone thinking of using bitcoin as a tool of solving his financial crisis should have a rethink because it's doesn't always work that way because Bitcoin was not designed originally to make people rich.



It's funny to note that people who has no knowledge about Bitcoin has seen Bitcoin as a money making machine where they will invest and get money in return what we should be more concerned about is how we can get sufficient information about Bitcoin in a view to fulfilling the aim and objectives why it was created making money from Bitcoin should be a secondary thing