[2017-04-26] Japanese Economic Uncertainty Can Prove Benefit for Bitcoin

[bbc.reporter]

The author of this article is saying that a failing economy could benefit bitcoin. His reasoning is that investors will start seeking alternatives of storing their funds, acquiring new assets, and investing. Meaning they will be looking somewhere to store value safely. Is bitcoin's volatility really what investors are looking for if safety and stability is the main concern?

Gold might be the better choice.



As we’ve been thought in the past, if a country’s economy begins to fail, investors quickly start seeking alternatives of storing their funds, acquiring new assets, and investing. As we’re close to entering the era of digital currencies, what better choice than Bitcoin? As the inflation rate of the Japanese Yen is likely to increase due to the massive amounts of banknotes being printed in the country, the Bitcoin price will be pushed even higher than its current value.

For the full article https://www.crypto-news.net/japanese-economic-uncertainty-can-prove-benefit-for-bitcoin/

[cr1776]

Gold and bitcoin aren't mutually exclusive.  Gold is great for some uses, bitcoin would be better if you were (for example) fleeing China or Venezuela and could get your gold across the border.  A percentage in each is prudent for many people.  And while bitcoin has been volatile, it has been volatile with a huge upward bias.

[bbc.reporter]

@cr1776. Yes exactly. The article simply states that a failing economy in Japan is good for bitcoin because investors will be looking for new types of investments to avoid the effects of inflation. Gold is the safest and bitcoin might be too exotic for traditional investors.

[VTCutch]

@cr1776. Yes exactly. The article simply states that a failing economy in Japan is good for bitcoin because investors will be looking for new types of investments to avoid the effects of inflation. Gold is the safest and bitcoin might be too exotic for traditional investors.

Maybe the government of Japan has specially legalized bitcoin recently. That people have the opportunity to save their money by using Bitcoins. So the government will be able to control the capital of its citizens