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Author Topic: who here is using bitcoin as a hedge?  (Read 263 times)
European Central Bank
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October 14, 2016, 05:34:04 PM
Last edit: October 14, 2016, 05:50:55 PM by European Central Bank
 #1

I was wondering how many here are using bitcoin as hedge against their local currency. the pound is acting like a shitcoin these days so anyone parked in bitcoin has done nicely recently, and then of course there are many other countries with really weak currencies.

is anyone here using bitcoin for this end? and I don't mean for hypothetical dollar death or anything like that, I mean for your local currency today.
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October 14, 2016, 07:28:49 PM
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ECB, I use Bitcoin as an "alternative asset", a diversification.  In a sense that would be a hedge.  Semantics...

The US$ is very strong now (I'm American).  I look upon BTC (and gold) as two other ways to diversify out of the dollar as well as stocks, bonds and real estate. 

BTC and gold both have enough differing characteristics so that I see them as diversification.  I really like the borderless appeal of BTC, although few countries I visit have much going on re Bitcoin.
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October 14, 2016, 09:26:59 PM
 #3

I was wondering how many here are using bitcoin as hedge against their local currency. the pound is acting like a shitcoin these days so anyone parked in bitcoin has done nicely recently, and then of course there are many other countries with really weak currencies.

is anyone here using bitcoin for this end? and I don't mean for hypothetical dollar death or anything like that, I mean for your local currency today.

Yes, I'm using it exactly as a hedge, along with the US dollar. If both of them go down a few percentages, I go buying them. If Bitcoin goes up, I sell some part of what I earn by posting here, but I'm still trying to keep my Bitcoin savings increasing. In this way, even if Bitcoin goes higher, my stash slowly keeps growing. I'm following essentially the same tactic in respect to the US dollar...

Though I consider Bitcoin to be a longer term investment than dollar

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October 14, 2016, 11:14:04 PM
 #4

I was wondering how many here are using bitcoin as hedge against their local currency. the pound is acting like a shitcoin these days so anyone parked in bitcoin has done nicely recently, and then of course there are many other countries with really weak currencies.

is anyone here using bitcoin for this end? and I don't mean for hypothetical dollar death or anything like that, I mean for your local currency today.

Haha I am! The Canadian dollar is really low right now (like 75cents American to buy a Canadian Dollar low. Shit) so I really have no choice but to hedge with bigger and better currencies.
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October 14, 2016, 11:16:46 PM
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Whatever happens I don't go fully fiat or fully bitcoin because both are tisky if you go with 100% on them. It's true that europeans currencies are having bad time but bitcoin is going good and I like the latest increase.
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