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From Above (OP)
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July 05, 2016, 11:08:59 AM |
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I read this article the other day: https://www.cryptocoinsnews.com/bitcoin-safe-asset/Read it and come back here, let's discuss this question together. Do u think Bitcoin is a safe asset? The article defines it this way: A safe asset is one people go to during uncertain economic times. In normal times, a safe asset is one that people hold despite a low return rate, possibly due to its use as a hedge, or liquidity characteristics. How do u perceive the Bitcoin? ~CfA~ |
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DimensionZ
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Shit, did I leave the stove on?
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July 05, 2016, 11:37:46 AM |
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Bitcoin is not a safe asset as in a store of value with a stable price attached to it. Not in the slightest actually. As it stands right now Bitcoin is a highly volatile commodity mostly used by speculators who mostly participate in pump and dump schemes thus the high fluctuation in price. I don't think Bitcoin is a stable asset in uncertain economic times, it's certainly a high risk-high reward venture that can make you win a lot or lose a lot. I wouldn't like my livelihood to depend on it and I am not investing all my worth into Bitcoin for now.
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thejaytiesto
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July 05, 2016, 11:44:50 AM |
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Yes it's safe, as in your BTC will be the same amount of BTC and it will not get stolen from you unless you are incompetent in managing your own money.
But of course as far as price goes, it fluctuates a lot but that is expected because the marketcap is still tiny.
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helloeverybody
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★YoBit.Net★ 350+ Coins Exchange & Dice
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July 05, 2016, 12:26:06 PM |
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Using your definition of a safe asset then id probably have to say its not a safe asset because even in normal times which I'm not sure bitcoin even has any, price still varies wildly. Massive gains or losses are possible, i suppose if you bought in low enough its a safe asset though. Its the safest of the cryptocurrencys though.
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davis196
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July 05, 2016, 12:36:06 PM |
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I read this article the other day: https://www.cryptocoinsnews.com/bitcoin-safe-asset/Read it and come back here, let's discuss this question together. Do u think Bitcoin is a safe asset? The article defines it this way: A safe asset is one people go to during uncertain economic times. In normal times, a safe asset is one that people hold despite a low return rate, possibly due to its use as a hedge, or liquidity characteristics. How do u perceive the Bitcoin? ~CfA~ It`s not safe for short periods and i wouldn`t say it`s safe for longer periods. Bitcoin price isn`t very connected with the economical situation.During a crysis,btc price can go down. Btc is always a risky asset,but this is good. |
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FLoving
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July 05, 2016, 12:37:48 PM |
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But for me bitcoin is a safe asset, as I have joined bitcoin and added all my money into there a month ago and I did not felt any risk at there, I yes at some time the price dropped but before that I earned a lot of profit from there, I think before the fall of the price I earned about 100% profit and when the price dropped I lost about only 15% , so how will we say that bitcoin is not a safe asset?
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~Bitcoin~
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July 05, 2016, 12:41:29 PM |
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I don't think bitcoin a safe asset because volatility in price is so high at current stage and price is not only moving upward. Price has jumped like more than double in this 1 year period but we also shouldn't forget price going down from 1200$ range back to 200$ before within less than 1 year time period.
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klaaas
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July 05, 2016, 12:51:05 PM |
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Bitcoin is safe in the way that your account can't be frozen by the goverments or someone else.
The price still varies but will ripple out in the future , Yet it depents where you live and/or the local currenties in use if it usefull to use bitcoins as safe asset.
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Btcvilla
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July 05, 2016, 12:56:22 PM |
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Bitcoin is very volatile. You will have a bad time to use it as a "safe asset". A safe asset is just something like index or mutual funds.
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Bitcoinstalker.com
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July 05, 2016, 01:04:57 PM |
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I read this article the other day: "Is Bitcoin A Safe Asset?"
Read it and come back here, let's discuss this question together.
Clickbait, along the lines of "Are Cats Smarter Than People?  " No, cat's aren't smarter than people & bitcoin isn't a safe asset. Nothing that goes up & down >20% a day could be considered a safe asset by a sane person, what a ridiculous question. |
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virasog
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July 05, 2016, 01:13:04 PM |
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Yes it's safe, as in your BTC will be the same amount of BTC and it will not get stolen from you unless you are incompetent in managing your own money.
But of course as far as price goes, it fluctuates a lot but that is expected because the marketcap is still tiny.
Bitcoin is safe unless and until you are careless with your pass-phrase . keep your bitcoins in a desktop wallet and they will be save forever. |
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jukka
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July 05, 2016, 01:25:44 PM |
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btc is definately not a safe asset. gold is, btc is not.
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HI-TEC99
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July 05, 2016, 01:34:39 PM |
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Bitcoin is safe in the way that your account can't be frozen by the goverments or someone else.
The price still varies but will ripple out in the future , Yet it depents where you live and/or the local currenties in use if it usefull to use bitcoins as safe asset.
I consider it as safe as gold, and people usually buy gold as a safe asset. You can keep both assets out of the bank, and although Bitcoin's price fluctuates so does gold's price. Any definition of "safe asset" must be applicable to gold, and if it's applicable to gold it's applicable to Bitcoin. |
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Barbut
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July 05, 2016, 01:49:59 PM |
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What is safe today? Every investment have some risks, and that is a fact.
How much is bitcoin safe its hard to tell, for me personally it is. And even now when price is high people can buy and earn just from rise. When we take a look on early adopters and people who are in btc world from beginning, we can see how much they earned. They invested when risk was much higher in me opinion, and when risk is higher usually profit is also higher.
For some investment's people need to be brave, and sometimes all we need is to try. Bitcoin is not 100 % safe investment, but there is no 100 % safe investment in this times. Simply people need to choose what is best for them, but before that to try to inform about everything around.
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philiveyjr
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July 05, 2016, 01:59:12 PM |
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Not at all a safe investment. The swings over the last few years should make that obvious. I have also seen bitcoin swings during any economic instability, so its clearly not safe.
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Sir Alpha_goy
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July 05, 2016, 02:00:04 PM |
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Anything priced in fiat is not a safe asset.
I believe one of the core beliefs of BTC is that it is better than the fiat system we currently use and that BTC will replace fiat someday.
So if its value is derived from the fiat system then it is not safe by the Bitcoin community's own admission.
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philiveyjr
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July 05, 2016, 02:01:48 PM |
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Anything priced in fiat is not a safe asset.
I believe one of the core beliefs of BTC is that it is better than the fiat system we currently use and that BTC will replace fiat someday.
So if its value is derived from the fiat system then it is not safe by the Bitcoin community's own admission.
Completely agree with this thought process, as a matter of fact even altcoins come under the same thing, since their value is derived from bitcoins or USD itself, and hence cannot be considered a safe asset. |
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Odien
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July 05, 2016, 02:02:33 PM |
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It's for me the saffest asset. The only one which is backed by no one in the world, no bank or government, but only by the people.
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Amph
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July 05, 2016, 02:03:56 PM
Last edit: July 06, 2016, 01:52:01 PM by Amph |
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gold is not safe either i remember the ath of gold was 2k per once, and then tanked to 1k, you call this safe? ok it did not happen over night but it happened
bitoin is not safe because it is not big enough, give it enough time to build a good capitalization and you will have a safer asset
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Sir Alpha_goy
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July 05, 2016, 02:06:06 PM |
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Anything priced in fiat is not a safe asset.
I believe one of the core beliefs of BTC is that it is better than the fiat system we currently use and that BTC will replace fiat someday.
So if its value is derived from the fiat system then it is not safe by the Bitcoin community's own admission.
Most people that say Bitcoin is a safe asset more than likely own Bitcoin. Take Bitcoin from their possession and their tune may change. Paradigms are only as safe as the intentions of the investors. Investors only want to make fiat currency appear in their wallets. This means one day they will dump the "asset". Only when enough hype can be generated to attract a liquidation pool. Safe should be redefined as: When all investors know when the asset will be dumped by large investors. If their is no transparency as to when this will happen then it is not safe. On another note Juno has reached Jupiter....if that means anything to you then perhaps Bitcoin is safe. |
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