Gold will be unaffected (supply-wise) too, so will any other asset except fiat. So what's the point? All assets are going to be affected when it comes to their price. There are too many people selling literally anything to get cash ASAP.

Governments are trying to take any measure possible to hide the hole of debt we've entered. It's a hide-it-until-you-can't game they're trying to play. Let me tell you something: once the real side of economy is going to pop to the surface and people will start facing the reality (which is terrible), that's when the real market chaos begins. As far as I'm concerned, out of 10 friends of mine, not even 2 or 3 see the real threat behind this virus. That's scary.

When I'll mention here that out of 10 friends of mine at least 7 have finally woken up, you'll know the real economical game has already begun. I expect the downfall of many assets people have previously believed in, but only for a few months. After these months, the rich and patient will take action.

Fiat will most likely go into hyperinflation if it hasn't already. Purchasing power is already theoretically lost.
One day, the scarce assets will prevail.

I'd advise anyone to prepare for more than just 40 days.

Look at Wuhan, then look at Italy. Wuhan has been locked down for +3 months and Italy will be too. China is very well known for hiding real data (especially when bad stuff is going on with their country - they don't want the world to see the bad side of China), so I don't trust at all the current numbers of infections. It's literally impossible to have only a single-digit number of new cases per day when you had over 10k a day weeks ago. Simply illogical.

My advise is to prepare for at least 2 months of supplies. At this point, nobody knows what measures are going to be taken next. Besides that, it's food. As soon as you purchase non-perishable food, you're not going to regret it. Buy food for 3 months and even if the crisis ends after 30 days, you will no more need to buy non-perishable stuff for 2 more months. You're saving time and also preventing food shortage at the same time.

I think the toilet paper hysteria is a stupid move.. but something is interesting: while people were desperately running for toilet paper at my nearby supermarket, food was in stock just as usual. That gave me plenty of time and options to go for when piling up supplies.

Better be ready and "exaggerate" than not be ready and have to go through hunger. You will not regret over-preparing, I can ensure you.

Couldn't agree more. I'm taking a break from cryptocurrency-related moves for a long time too; I believe this is a time to observe - not to take action. But the long term plan of mine is still there. Still alive. I can honestly say that even a dump to $100 would not get me surprised at all - I'd rather be happier that getting 1 BTC would be way more accessible.

I don't think they've learned much.

I'm talking mostly about newbies and those who've put their money in BTC and never cared about it again until the dump. People are placing money in crypto hoping to get a fortune out of it in no time.

If I ask any of my friends (those who have never owned/cared about or BTC or cryptos in their lives) what their opinion on BTC is, it's either "I know you can make a lot of money out of it" or "it's used by criminals". That explains it all for me. These are the same guys OP is now referring to. The weaker hands or the believers in ideal price changes.

I don't think Bitcoin was meant to be a revolution against fiat, nor was it supposed to replace it. BTC was designed to eliminate third parties and I am more than sure Satoshi did not create it with the idea of fiat replacement in his mind. It was meant to be just a revolutionary asset you can transfer with mandatory transparency and with no need of trust.

Part of those who have invested months ago and have now lost a significant part of their money are not going to believe in BTC again and will turn into Peter Schiff-like investors throwing only negative opinions and news off the cliff. The other part of investors is those like me, who believe this is not the end of BTC and is just a normal market move in the crypto markets. I am in no way affected as soon as I don't sell.

Bitcoin is safe imho. There's always going to be a mass of investors and they'll split into two during market cycles: those who turn into strong believers and those who turn into non-believers and FUD spreaders.

This is unfortunately one of the periods where all the false ideas of Bitcoin that have been shaped come out to the surface. One of these ideas is "put everything you have in BTC, you'll get rich". It's overly advertised and promoted and too many people went for that idea.

I, on the other hand, have started in 2013 with very small amounts so I didn't feel much of a loss whenever Bitcoin had a dump. I've learned not to be psychologically affected by sharp market moves and I've also learned how the market waves work. Holding your money in cryptocurrencies may provide a very large profit but also comes with a huge risk and many different emotional feelings. I've seen way too many people get into cryptocurrencies because they "know" a huge pump is incoming, when in fact that is more of a wish than a reality.

We must learn from mistakes and not see money loss as the end of everything. It's surely not. I think every human being will go through at least one very tough time in their existence, life can't always be positive.

Nice post though, OP. Haven't even thought about those who might be psychologically affected by these sharp moves..

Do you seriously believe there is going to be a single government saying "hey, let's use Bitcoin!"? As I said a few posts above yours, there already is virtual/electronic money out here: bank accounts.

If there will be any new electronic currency they're willing to adopt, it's going to be one created and launched by them. Not a currency created to be trustless and decentralized..

Bounty hunters are to blame for supporting and actively promoting shitcoins. If I create a ponzi scheme and you support and promote it, you can't blame me for it. You have been part of it too and you have to accept it.

Before joining a bounty campaign, first of all do a bit of research about the project you're going to support. By joining these bounties and actively promoting them, you're only helping new scams propagate in the community. If it works, why would they stop creating new scams? The more shitcoin bounties will be supported, the higher the incentive is to create new ones.

During the last recession, nobody even knew what the hell a Bitcoin is. Take a look over Tesla's stocks back when nobody knew what the hell that company is and take a look at it now. The main difference is the number of investors.

Bitcoin is supposed to have a good price growth post its halving, but only time will tell. The 2008 financial crisis seems to have been better than the upcoming one, so if you're expecting a large Bitcoin price move upwards, it should be larger than the one from a decade ago. The USD inflation will also help make BTC worth much more in time. Hopefully this recession isn't when Bitcoin fails but when it finally becomes a store of value and shows its true worth.

Optimism isn't bad at all. But right now we need to take a look straight towards reality: if even the countries with top-notch healthcare systems are not ready, then there is no way the rest of the world is.

The fact that all governments are taking this less seriously than they should is very suspicious to me. It's like nobody wants to save lives or like they want it to become a more aggressive situation than it is right now.

We'll see what happens next.. we are approaching 10k new cases per day, which is an insane number already. At this point, we're probably going to have a million cases within a month or two. Hopefully there is going to be a solution for all the issues we're confronting today.

I make a plan and follow it. Every time I do not follow my plan, it turns out to be a very bad choice to abandon it. E.g: I have some alts that I've been hodling for many, many years. Out of the entire list, I've sold a few of them entirely although I meant to hodl them for much longer. Days after, they got pumped and the price went stable not after a 50% pump, not after a 125% pump but after a God damn 300% one.

That's how I learned that my plans should be followed to the end. Other things I've learned:

• Don't buy when prices go higher and don't sell when the market dumps. I've never had a successful trade when I've done this. It's very, very easy to be influenced by the market trend. Try not to be and buy or sell according to what you expect will happen to the coin, but based on legit information.
• All my alt trades have been successful in the beginning, but then I found out I would've had more success if I held everything in BTC from the beginning. However, if I had sold alts during the 2018 market craze, I would have had a LOT of money right now.

The measures countries have taken were taken way too late. Some of them, like the USA and especially UK, are very far behind other countries in containing the virus and I'm afraid there's nothing left to do but to try using all resources for the good of humanity and to save lives. Other than that, this is probably a fight we've already lost.

I'm not pessimistic but realistic. My country, Romania, has had a total of +1,000,000 people coming back in the country in the past 15 days. I don't even want to know how many of those are infected. If they start having symptoms, even if we had ICU units for them, we don't have personnel. If the virus situation gets worse in Romania, we are going to have a lot of deaths.

Hopefully somehow the ICU issues will be solved soon and we'll be able to at least suppress the damage later, it's better than never. But until then, we'll have to try fighting on our own and try out best to stay clean from COVID-19.

No. Especially after the historical one-day bloodbath of many alts and BTC. Convincing people to get into BTC and alts right now is going to have 0% success.

Furthermore, we already have digital money. We have credit & debit cards. Why would I put my savings at this moment into BTC? I can't get to the local grocery store to buy some food or water. I can't give my family BTC if they're in need of money - I mean I can, but that would be of no help.

BTC is useless right now for those who are willing to refuge into some asset for long term protection, especially because you never know when exchanges could collapse and the services altogether. At least you know that other commodities have had a historical acceptance for barter, so you can consider that a safezone.

If nations are now going to release digital currencies, they're going to conquer the markets. Don't expect BTC to become the global currency or anything - that's not gonna happen. And as I said, the free fall of stocks & crypto will make a lot of people think that cryptocurrencies are a very bad idea. Time will prove they're not imo.

I understand the main purpose of this thread - I've seen way too many Newbie accounts creating threads and never coming back. It looks to me like they're creating new threads using alts whenever their main (or alternative) accounts are out of threads to reply to. But I don't think there is much to be done about it.

First of all, Newbie jails shouldn't be a thing - I disagree with that 100%. Newbies being jailed inside a single board strictly for Newbies will lead to a board full of crap where everyone will shitpost and burstpost until they're free on the forum.

If a member wants to shitpost and only boost their account's rank in order to become sig campaign-eligible, they will provide high quality posts until they'll be eligible for campaigns after which their accounts will turn into shitposters. We can take the strictest measures out there - if that's my intention, I'm going to be willing to find any way to get through the ranks until I'll reach my goal.


Very wrong way of seeing this forum. Yes, there could be from time to time a subconscious "oh, I must do this to get $" thought but let's face reality. This forum isn't a job and whenever someone tries to go only for the money, it turns pretty bad for the respective member. It's quite easy to differentiate a member who works hard on the forum from a member who is here just to shitpost for the BTC they can earn.

What if tomorrow everyone decides cryptocurrencies are safe haven assets and will pump all their money in them? There's always a possibility. All my alts -> USDT moves turned out to be a very bad decision during hard times.

I still go for the idea that this is a time to sit back and relax. Just look at the path the market takes. This is a period in which today we have a 25% dump and tomorrow we might witness a 50% pump. Taking decisions right now may turn into regret soon enough. Unless you have critical information and have an advantage over the other traders, this is a bad move..

But comparing what's going on in the crypto world with what's going on with the stocks is pointless. So is thinking that any critical information you have will make you take good choices in the cryptocurrency markets. The crypto market is too unpredictable.

I wouldn't rely on/look at anyone's speculation right now. Any change (e.g. Italy's lockdown) in the world could greatly influence cryptocurrencies and any speculation could go wrong in a matter of minutes. The best thing you can do now is try to hold onto your long term vision and try not to panic sell. Relax mode was plugged in for me as soon as this market hysteria began. I'm going to sit back and watch how the global stocks are falling off the cliff.

At this specific moment, us humans are going through too many thoughts (and some of us are going through too many fears) to make a good choice. During these times, the best thing you can do is just prepare yourself for what's to come. If you think selling your BTC for fiat is a good choice, I personally think that's very wrong. You'll only lose more.

I wouldn't mind it, but I acknowledge the fact that others would. Be it the end of the world, I am still going to hold onto my plan of hodling and believing in a future where Bitcoin will still be here, sustaining decentralization and trustless systems. A downfall to <$3k doesn't hurt me as soon as I won't sell.

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I'd rather follow history than China's words. History has repeated countless times before so my hypothesis is that we're going to witness a 1918-like pandemic. That means the virus could become less deadly once summer starts, but there is a pretty good possibility the second, more deadlier wave of the virus could occur by autumn. That is if the 1918 pandemic repeats, and I believe this possibility is pretty high.

Panic, hysteria, FUD. If you need quick access to cash, you'd sell anything to get cash on your hands too. Especially in an emergency.

Check an older reply of mine out:

The only experience you can get through gambling is learning to stop when you need to and playing out only money you can lose without feeling it much in your daily life. Otherwise, any "experience" means nothing when going to a casino. It's pure luck. A millionaire who's earned their money from gambling is just lucky, not experienced. The only thing I've learned from casinos is that there is a point where you have to put greed aside and accept the loss/win you've had. If you keep playing, you will until you won't have money to play with anymore.

It's going to have an effect for quite a long time IMO. The same thing happens with fiat, but nobody talks about it.. or at least it happens here in Romania. Didn't food become more expensive in the past few weeks in your country too? That's fiat losing its power, which is exactly the same thing as Bitcoin losing it. Something very natural and normal during hard times.

I've calculated the expenses a 4-person family must make in order to be +90% prepared for a pandemic. It's huge and a lot of people do not have enough money put aside to spend on prepping. Wait for this hysteria to calm down a bit and we'll most likely see opposite (positive) changes.