In a Bitcoin Disaster where would you move your Money?

[deisik]

Firstly i will be sad.... But i will move to diamond i think, gold, and real estate, or art are others possibilities... because the diamond will always have value. The price is totally disconnected from currencies, laws, States and the performance of other assets. The diamond exists physically and its real. The reserves run out and are expected to reach their maximum around 2030, while the demand is constantly increasing.

I'm afraid that the days of diamonds as an investment asset are numbered

Today's technologies allow to make synthetic diamonds which are as good or even better than natural diamonds. It is just the market being controlled by one monopoly, De Beers, and no one among producers of synthetic diamonds is being particularly interested in crashing the market that the price keeps high. This state of affairs may last for years, but personally, I would refrain from investing in these highly overvalued pieces of crystal carbon since they may lose most of their value any day

I don't think, while it's true their technology has grown in recent years, synthetic diamonds are not new as you surely know. They exist since decades
The production represents less than 1% of the production of the natural diamonds these days. And almost all of these artificial diamonds are used for practices of high technology such as industrial drilling, laser and x-ray machines

And because of the high cost of theirs production, prices are only 30% lower than for real diamonds. the margins in the industrial sector, are almost as high as in regular diamond industry.

I guess this is a sort of chicken and egg problem

Technologically wise, there shouldn't be any issues with large scale production of synthetic diamonds and then the cost of production would decline sharply (the so-called economy of scale), but this will most certainly crash the prices multifold (since the demand for diamonds is relatively small, volatile, and superelastic at that). Thereby, even the large scale production might not be profitable at all. Basically, that would mean complete disruption of the market, with diamonds losing their value as gem stones. But this doesn't in the least cancel the laws of economics, and when the technology gets developed beyond some point, diamonds will be as cheap as dirt

[zeca pagodinho]

As in many countries there are their currencies, the digital nation also has its currency ... If you look more closely, you can see that many of these - currencies - as they say are technologies that are only bought with the currency of the digital nation. Here are grown up crazy, backyard scientists, as we see in the success stories. In the event of a disaster such as a ban on the use of Bitcoin for fiat currency exchange, Bitcoin would not have large losses because I would own many of these digital goods and sell to other countries for their fiat currency. 

[alyssa85]

I think Cryptocurrency is here to stay.

So if bitcoin has a disaster, it really means that an alt has taken over the #1 spot, and money will be moving into that. Which alt will win though is a whole other thing. I don't think any of the alts on your list have what it takes.

[LeGaulois]

Firstly i will be sad.... But i will move to diamond i think, gold, and real estate, or art are others possibilities... because the diamond will always have value. The price is totally disconnected from currencies, laws, States and the performance of other assets. The diamond exists physically and its real. The reserves run out and are expected to reach their maximum around 2030, while the demand is constantly increasing.

I'm afraid that the days of diamonds as an investment asset are numbered

Today's technologies allow to make synthetic diamonds which are as good or even better than natural diamonds. It is just the market being controlled by one monopoly, De Beers, and no one among producers of synthetic diamonds is being particularly interested in crashing the market that the price keeps high. This state of affairs may last for years, but personally, I would refrain from investing in these highly overvalued pieces of crystal carbon since they may lose most of their value any day

I don't think, while it's true their technology has grown in recent years, synthetic diamonds are not new as you surely know. They exist since decades
The production represents less than 1% of the production of the natural diamonds these days. And almost all of these artificial diamonds are used for practices of high technology such as industrial drilling, laser and x-ray machines

And because of the high cost of theirs production, prices are only 30% lower than for real diamonds. the margins in the industrial sector, are almost as high as in regular diamond industry.

I guess this is a sort of chicken and egg problem

Technologically wise, there shouldn't be any issues with large scale production of synthetic diamonds and then the cost of production would decline sharply (the so-called economy of scale), but this will most certainly crash the prices multifold (since the demand for diamonds is relatively small, volatile, and superelastic at that). Thereby, even the large scale production might not be profitable at all. Basically, that would mean complete disruption of the market, with diamonds losing their value as gem stones. But this doesn't in the least cancel the laws of economics, and when the technology gets developed beyond some point, diamonds will be as cheap as dirt

Surely .... But it's good to exchange opinions
While searching for  a graph, i just learned that they can create diamonds mixed natural + synthetic. And it is really hard to make the difference for labs specially diamonds under 0.05 carats. just wow... Usually people prefer buy natural one but with this you lay be not sure what you are buying about

[calkob]

If this theoretical disaster were to happen i doubt there would be anything to move, if such a disaster happened bitcoin is worthless 

[European Central Bank]

back to fiat. everything hinges on bitcoin. if it falls apart then so does everything else in the short term. other stuff might come back but its gonna take a while to get back on track. and if there is a proper disaster i doubt there'll be enough time to get out.

lots of people claim faith in their pet alt. i wouldn't really wanna see that put to the test.

[vasrasus]

back to fiat. everything hinges on bitcoin. if it falls apart then so does everything else in the short term. other stuff might come back but its gonna take a while to get back on track. and if there is a proper disaster i doubt there'll be enough time to get out.

lots of people claim faith in their pet alt. i wouldn't really wanna see that put to the test.

Right ,if bitcoin can be affected so what else is not. I know soon if ever bitcoin gone there will be a new discovery that will over the bitcoin ,so if ever things happen ,I would prefer to go back in the basic and hope for a better outcome.

[European Central Bank]

Right ,if bitcoin can be affected so what else is not. I know soon if ever bitcoin gone there will be a new discovery that will over the bitcoin ,so if ever things happen ,I would prefer to go back in the basic and hope for a better outcome.

it depends what the disaster is of course. a technical problem won't affect any other alt, but the market effect most certainly would.

[pinkpanther03]

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?

Even Bitcoin face a disaster in time we did not expect, I would rather still keep my coins. Unless, if someday there's an altcoin become significantly will increase the value like what bitcoin has. Well, no doubt that I will shift into that altcoin to convert my bitcoin.

[diegz]

I'll go back to fiat. Once the bitcoin is under attack and fall, for sure , other alts will follow and will be attacked too. So the safest will be to go back to fiat though probably in the process I will lose some money(due to falling price when it's being crashed by hackers or whatever) it's fine, the thing is, I must not lose everything. 

[Kray]

Actually i dont want to move my personal money to altcoin, i still choose bitcoin as my choice. but if i get free btc from bounty or campaign i will move them to monero or dash. ETH is last option for me because nowadays eth still lack of security.

[Kakmakr]

I would go back to cash, and then into silver or gold. Your main concern when this happens, would be for you to reduce any losses and to store your wealth into some commodity with safe heaven properties. I would never keep everything in fiat, because things are shaky there too.

I think other Alt coins are dependent on Bitcoin's success, so if the biggest and strongest goes down, all other Alt coins will fumble too. 

[Mr. Big]

Time to stop... I'll go back to fiat if that happens, that's already a dooms day for bitcoin since it's been attacked or for whatsoever reason  that it was brought to disaster... Most probably if disaster happens, I have no choice but to go back to fiat... Future of the alt coins are probably in danger too of disappearing...

So to be safe, just return to fiat and I'll wait if bitcoin will survive and if there's a sign that it is already surviving, then I'll return...

[deisik]

I guess this is a sort of chicken and egg problem

Technologically wise, there shouldn't be any issues with large scale production of synthetic diamonds and then the cost of production would decline sharply (the so-called economy of scale), but this will most certainly crash the prices multifold (since the demand for diamonds is relatively small, volatile, and superelastic at that). Thereby, even the large scale production might not be profitable at all. Basically, that would mean complete disruption of the market, with diamonds losing their value as gem stones. But this doesn't in the least cancel the laws of economics, and when the technology gets developed beyond some point, diamonds will be as cheap as dirt

Surely .... But it's good to exchange opinions
While searching for  a graph, i just learned that they can create diamonds mixed natural + synthetic. And it is really hard to make the difference for labs specially diamonds under 0.05 carats. just wow... Usually people prefer buy natural one but with this you lay be not sure what you are buying about

Now you see my point

The diamond market is like overheated water where a however small stir may end up in an explosive boiling. Investing in such a market is certainly not a wise idea overall. We had a rather technical discussion about that a few years ago, and I gave a link to a pdf paper which specifically investigated all these aspects we are talking about now, e.g. how De Beers is vilifying synthetic diamonds and even offers special toolboxes to gauge the purity of natural diamonds as well as distinguish them from synthetic ones, which is pure bullshit for the most part

[deadsilent]

If that happen. I will move to fiat. Cash is more safe i believe. Investing money into other cryptocurrencies seems very difficult and risky. Maybe i will observe if theres a potential crypto that will replace bitcoin. Investing on gold is good too. Maybe i will my half of my money there. The half of it. I dont know, maybe i will buy some altcoin. Dash, xmr, eth, ltc. Those are good coins. But not sure which one is a potential alt that will replace bitcoin.

[RealBitcoin]

Even Bitcoin face a disaster in time we did not expect, I would rather still keep my coins. Unless, if someday there's an altcoin become significantly will increase the value like what bitcoin has. Well, no doubt that I will shift into that altcoin to convert my bitcoin.

Glad to hear some people who will stick with BTC. Not unlike the other pussies who would run back to USD as soon as the market dips a little.


Isn't this what Andreas said, that 1 BTC = 1BTC and that we should not compare it to USD, but treat BTC as money by itself, with intrinsic value.

I guess the trader pussies dont realize this, they will just run back to fiat as soon as something happens, and dont give a shit about the decentralization principles, or the limited inflation principles.

Basically they are just speculators, they dont care about bitcoin. They lack loyalty. They are just opportunists.

[loserkids]

I would dump coins on the shorter chain and buy some Monero. I'd still keep using Bitcoin though. I'm not scared of short-term events.

[Paxful_Marketing]

There are over 700 other coins to choose from. I like those odds a lot better than fiat

https://coinmarketcap.com/

^^ have a browse and see which one would suit the moment.

[markyminer]

I'll go back to fiat. Once the bitcoin is under attack and fall, for sure , other alts will follow and will be attacked too. So the safest will be to go back to fiat though probably in the process I will lose some money(due to falling price when it's being crashed by hackers or whatever) it's fine, the thing is, I must not lose everything. 

hope that we will not face such kind of situation, because bitcoin is now becoming the most popular decentralize online currency and now the number of bitcoin users are increasing continuously, therefore i do not thing that bitcoin can come to an end, but we are hopeful that the new generation will be giving more preference to bitcoin as compare to fiat or any other virtual currency .

[deisik]

I guess the trader pussies dont realize this, they will just run back to fiat as soon as something happens, and dont give a shit about the decentralization principles, or the limited inflation principles.

Basically they are just speculators, they dont care about bitcoin. They lack loyalty. They are just opportunists

I strongly suspect that you were left holding the bag, right?

And now you are trying to make a good bargain out of a bad trade. To be honest, I didn't mean exactly your kind in this post of mine, but you are still cutting it pretty good in this department. I remember you were eagerly interested in some trading aspects a couple years ago, and even then I had been telling you that your ideas were complete bullshit (e.g. your "downward volatility" or how you called it) as well as you would be quickly killed in real trading using this approach



Now you may want to think again who is real pussy here