In a Bitcoin Disaster where would you move your Money?

[darkangel11]

Let's split these into two: a disaster and a fork.
In case of a disaster, like an enormous bug and fatal network failure of some sort, or a worldwide ban we'd all be screwed anyway.
In case of a fork I'd keep holding. Worst case scenario I'd have to choose which side to opt for.

[ipanks]

if this is happen, then i will move my bitcoin into fiat because with fiat, i can buy whatever i want and i still trust my fiat. and if the bitcoin disaster is finished, then i will buy bitcoin again and i think the price will not go too high as before.

[genos]

Of course I will move my money to fiat. Because I think it would be more secure than other options I can not believe anymore to ethereum I have lost a lot of money in ethereum, tragedy few months ago that i loss almost a half of my balance when i put all my bitcoin into ethereum.

[avikz]

In the times of s disaster, I would surely move my money to fiat and nothing else. Because bitcoin is accounted for around 85% of total crypto currency volume. So if bitcoin price goes down drastically, all other crypto currencies will be affected leaving a long term damage.

So in that case, fiat will be the only secured currency where I can keep my savings safe and secure. 

[pooya87]

if bitcoin fails there is no point in using any of the other altcoins, they are 10 times worse. and they will fail too.
also keep in mind that many of these altcoins are pump and dump coins such as ethereum, and also many of them will not be able to handle the massive amount of transactions bitcoin is handling, and either fail or have a gigantic blockchain size in a month.

[RealBitcoin]

if bitcoin fails there is no point in using any of the other altcoins, they are 10 times worse. and they will fail too.
also keep in mind that many of these altcoins are pump and dump coins such as ethereum, and also many of them will not be able to handle the massive amount of transactions bitcoin is handling, and either fail or have a gigantic blockchain size in a month.

Not all of them, and if BTC fails ,the miners will simply switch to other ASIC coins.

But the nodes are free to use any other coin the want. Many coins are scaleable, it's just that their security is not that high if most people dont use them. They need more users.


My bet is that the top 10 coins right now, would survive. And maybe there is alraedy a BTC 2.0 in the making, who knows.

in case of a hardfork nothing is going to change, like other hardforks in bitcoin and like other hardforks in any other project we will continue using the new fork.

and as far as split goes, so far we are trying to fork with 95% consensus and if it is done right no split will happen.

but to satisfy you, in case split happens i wouldn't move on to any of the altcoins because they are useless. unless a new one is created that can fill the hypothetical empty place of bitcoin.

Why are people anti-altcoin here? Bitcoin is not infallible, and certainly other altcoins have improvements on BTC, its just that they are not as widely used.

I doubt anything is going to chain in a hardfork. I bet most of the speculators would pull out their money before the hardfork, due to the uncertainty.

[Huge Black Woman]

Mah money?  It'sa goin' unda my dam mattress,  an' then...what kinda disasta we envisioning up in heah?  If'n the Zombocalyps happen, Imma make fo' tha toolshed an' "opt out" if y'all catch mah drift.  Money be damned.  Dey say shrouds don' have pockets in 'em.  Know what I'm sayin'?

[pooya87]

if bitcoin fails there is no point in using any of the other altcoins, they are 10 times worse. and they will fail too.
also keep in mind that many of these altcoins are pump and dump coins such as ethereum, and also many of them will not be able to handle the massive amount of transactions bitcoin is handling, and either fail or have a gigantic blockchain size in a month.

Not all of them, and if BTC fails ,the miners will simply switch to other ASIC coins.

But the nodes are free to use any other coin the want. Many coins are scaleable, it's just that their security is not that high if most people dont use them. They need more users.


My bet is that the top 10 coins right now, would survive. And maybe there is alraedy a BTC 2.0 in the making, who knows.

who cares about what miners are going to do, they are already mining multiple things, and they will always mine what is most profitable.
you are asking us, the users, what we will do. and i said i won't use any other altcoin.

and yes all of them are as i said.

and the reason why people are not using them is not just because of security. it has many different reasons such as not being decentralized, having pre-mine or massive-premine which is becoming a thing these days.
bitcoin was open to all from the day one, apart from genesis block anybody could mine a block and get the rewards but with altcoins majority of them have more than 70% and in some cases up to 90% of the coins pre-mined or not exactly pre-mine but with some shenanigans the owner is holding the 90%+ of that coin.

and there is no top 10 crypto currencies, there is only one cryptocurrency called bitcoin and the rest are pump and dumps with a handful of them having some features that are interesting such as monero but still are pump and dump.

and yes many of them have some improvements and as i said good features over bitcoin but each of them have much more bad attributes that will hide those couple of good ones.

[marcoman22]

I would immediately move my money to US dollars since i dont want to loose my hardly earned money. I would rather observe the upcoming situations so that the problem is solved or else, i will invest my money in Monero and Dash since i dont want to put all the eggs in the same basket.

[Zadicar]

I would immediately move my money to US dollars since i dont want to loose my hardly earned money. I would rather observe the upcoming situations so that the problem is solved or else, i will invest my money in Monero and Dash since i dont want to put all the eggs in the same basket.

I would do the same thing too i would quickly convert all of my bitcoin to cash and wait for the next even that would happen to bitcoin and other alts because if this thing would happen to bitcoin maybe i would hesitate to put money on any cryptocurrency out there since we all know that bitcoin is strong and cat hardly be goes down but if the time it would fall then those alts do have the possibility to go down too.

[Gembul]

I would immediately move my money to US dollars since i dont want to loose my hardly earned money. I would rather observe the upcoming situations so that the problem is solved or else, i will invest my money in Monero and Dash since i dont want to put all the eggs in the same basket.

Of course I will immediately sell all bitcoin and made in a currency of my country before bitcoin becomes worthless. Because I'm sure there will be signs such as news came out, and at that moment I would sell all bitcoin. Thank you

[Amadues]

I will choose this option: The majority chain: the split of BTC that would have the most nodes, miners, merchants and users behind it

But a situation like this could mean a literally disaster for the crypto environments so also the option of a fiat "return" could be a right one.
For sure I will follow another nerd hobby

[TastyChillySauce00]

I would immediately move my money to US dollars since i dont want to loose my hardly earned money. I would rather observe the upcoming situations so that the problem is solved or else, i will invest my money in Monero and Dash since i dont want to put all the eggs in the same basket.

Of course I will immediately sell all bitcoin and made in a currency of my country before bitcoin becomes worthless. Because I'm sure there will be signs such as news came out, and at that moment I would sell all bitcoin. Thank you

That makes sense and I'd honestly do that too in order to save my wealth when there's still a time but my main question is when the news about this thing (bitcoin disaster) come out or revealed, then, who's going to make a buy wall? I think that no people in this world want to buy something which is going to fall. When there's no buy wall or demands, probably our bitcoin will become worthless, but yeah let's back to the real life out of this imaginary talk.

[frendsento]

In case of the worst scenario I will choose to be safe than sorry If there still have option to convert it to fiat then I will gonna convert my bitcoins to cash , Due to the incident I may not gonna invest on other altcoin because what happens to bitcoin may happen to them and I don't want to feel sorry for myself when that time comes

[BigBos]

maybe I'll trade it in the form of fiat. Well, I prefer to trade on the move. Well, if bitcoin are problematic, then it probably will affect the altcoin, so move on altcoin guess is that it's useless. so, in anticipation of circumstances that could cause us to lose money, may exchange it in the form of fiat is the best decision.

[Basimon]

I am curious that in the hypothetical scenario of Bitcoin splitting into 2 (which is less and less hypothetical), or other big disasters (51% attack, quantum hackers,etc), where would you move your money? Bitcoin is currently the reserve currency, and it's safe to store in it some money, but if some disaster happens, then it will no longer be safe, so I am curious where people would go, what would be the alternative to BTC?

There are of course some of the top 10 coins, which would qualify in my view:

• Fiat Currency: Which is like cashing out of the crypto world, not really an alternative to BTC
• The majority chain: the split of BTC that would have the most nodes, miners, merchants and users behind it
• ETH: Which has the closest market cap to BTC, and the most users after BTC
• Ripple: Which has banking integration and a somewhat stable price
• LTC: Which is the closest to BTC in terms of code similarity
• Monero: Which is has privacy implemented in it
• Dash: Which is has low fees, privacy and a democratic consensus mechanism

So which one is it for you?

I will choose Ripple, Dash instead. These digital currencies have supported by some big organizations and it was considered as legal digital currency with a low fees and faster transactions .

[Harlot]

If there is a Bitcoin disaster, before it would happen I will convert it to Fiat. Good thing is that my Wallet is 2 in 1 which it also has a Fiat Wallet. I would convert my Bitcoin to my Fiat Wallet before the disaster happen and when the price has fallen down Ill convert it back again to Bitcoin in that way I have increased the quantity of my Bitcoin and will profit from it once it goes back up again. Of course it will take time but it is not risky at all.

[Amph]

If bitcoin will be around with a new fork i'll keep the coin, otherwise moving them in the best altcoin would be a wise idea, i will not dump any coins in any case, for fiat ever

crypto is the future that is certain, also moving them in fiat will expose you to a huge tax to pay, but i'm confident that they cn always solve any bug or exploit with an hard fork, no need to worry about this

[Herbert2020]

why does everyone thinks if bitcoin fails, disaster or whatever, people are going to look for a substitute?!!
well they may look for an alternative but won't substitute it with the existing altcoins. they are all bad. and if bitcoin fails all of them are doomed.
there was actually a good, long topic about it around here talking about what will you do if bitcoin fails. and it is similar argument, most people dust themselves up and move on with their lives. back to fiat.

[RealBitcoin]

why does everyone thinks if bitcoin fails, disaster or whatever, people are going to look for a substitute?!!
well they may look for an alternative but won't substitute it with the existing altcoins. they are all bad. and if bitcoin fails all of them are doomed.
there was actually a good, long topic about it around here talking about what will you do if bitcoin fails. and it is similar argument, most people dust themselves up and move on with their lives. back to fiat.

Well that is a fucking shame.

Fuck them. Fuck them all who cash out.


They are supposedly here, to reform the financial system and to create a decentralized currency. But then they will just crawl back into their fiat dungeons like some rats?

Fuck them really. Bunch of virtue signalling losers, who would flee like rats from a sinking ship.


These people are not reliable and can't have goals in their lives, to make the world a better place. Everyone is just virtue signalling here.