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Author Topic: Will people start moving their savings to Bitcoin in case of a financial crash?  (Read 3492 times)
virtualdn (OP)
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June 12, 2017, 04:14:27 AM
 #1

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

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June 12, 2017, 04:22:24 AM
 #2

I don't believe on it. Since much time ago experts say things about market crashes, that world economy will colapse... But the true is there is always solution and ways to avoid big crashes, that is why there are economists in the governments.
But no doubt bitcoin is a good investment to put savings, I just don't think to put all the money you have in bitcoins is a good idea.

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June 12, 2017, 04:23:56 AM
 #3

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

First of all
Quote
The page you have requested might no longer exist, has had its name changed, or is temporarily unavailable.

Secondly, I think its already happening, whenever we see some crisis in any part of the world, the price of BTC increases. I always felt that its the people who are trying to put in their savings.

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June 12, 2017, 04:35:31 AM
 #4

Small local financial crashes are good for bitcoin,but a major world crash like the great depression might hit
cryptocurrencies as well.
I don`t think that people will trust a cryptocurrency when the major crash happens.
They will most likely buy gold and silver.




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June 12, 2017, 04:52:04 AM
 #5

Those are actually warning for economic collapse or akin to what happened in 2008 where major financial establishments thought to be too big to fail actually suffered great financial problems. In our global economy, anything can happen it is because a country's financial woes can affect other countries due to financial exposure.

It is quite possible that we can be experiencing financial problems in years to come but as to what year and the magnitude of that...that maybe hard to predict at all.

Will an economic turmoil push Bitcoin or will it also join the collapse? Well, that is beyond for us to predict.
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June 12, 2017, 05:02:09 AM
 #6

the economical collapse prediction is nothing new. i don't know why they still do it! it is always the same thing and it never happens (fortunately or not).
and no people won't start moving their savings to bitcoin because bitcoin is not the only thing out there that is considered safe haven, there are lots of things such as Gold,... which people trust more or know more than they know and trust bitcoin. but there will be a growth in demand for bitcoin for sure.

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June 12, 2017, 05:03:24 AM
 #7

Yes, I have seen it in my country when the government banned largest valued fiat currency note. It is observed that people moved their wealth in crypto currencies, especially in the bitcoin so I don't think that people around the world would hesitate to go with it if there is any financial crash.

* Demonetisation: Bitcoin trading at 25% premium in India amid high demand | Business Standard News.

* Bitcoin hits highest level post demonetisation : Mail Today, News - India Today.

* India's Demonetization Is Causing Bitcoin To Surge Inside The Country.

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June 12, 2017, 05:11:54 AM
 #8

this same collapse was predicted so many time it's not funny anymore, and it did not happen each tiem it was predicted, i guess eventually some fiat will crash in the future

but thinking that all the fiat will crash and people start to move on bitcoin is silly, they will play the same game about printing more money out of thin air and paying the debt with more debt
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June 12, 2017, 07:47:15 AM
 #9

Look at the history of financial markets and you will see these markets CRASH more or less every 10 years. < Dot Kom crash and the Property bubble > So this is inevitable and no real CRASH, but rather a small RESET for the markets to balance and correct themselves. In these times people ran to traditional commodities like Gold and Silver to protect their wealth. Now we have a new boy on the block and it has the same <Save Heaven> features as Gold & Silver. We already see people running to Bitcoin, when governments mess with the local fiat currencies and we will see more examples of this in future. ^smile^

Gold & Silver is not the ultimate Safe Heaven for wealth. < Governments has banned and confiscated Gold & Silver ownership before >

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June 12, 2017, 08:13:53 AM
 #10

All fiat money and currencies can't collapse at once and even if they do I don't think cryptocurrencies will be a go to option. But I'm saving it anyway, just in case)
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June 12, 2017, 01:00:05 PM
 #11

Don't think something like this is ever going to occur, as people have always thought that during a financial crash the best place for your money is probably going to be sitting in banks (FDIC insured of course) as you're not going to lose out in any situation like that, given that you don't have any money held up in the stock market or anything else along those lines. Though, some people may argue that they'd rather their money be in something that is going to yield you money during a financial meltdown, which could be something along the lines of gold.

I just don't think I can see BTC being used during this in the least, as BTC still needs many banks at the moment and during financial issues such as a crash these banks are usually the ones hit hardest.




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June 12, 2017, 01:03:47 PM
Last edit: March 22, 2018, 12:03:16 PM by Docnaster
 #12

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

Some of the blog sites nowadays are full of hoaxes or fraudulent claims, they often fabricate stories to generate some decent traffic. I wouldn't necessarily take what you read in the media seriously, as probably at least 70% of it is either dramatized, or blown way out of proportion. Stupidly, the weak hands see this news, and think their savings are essential good as gone unless they act now. The same doesn't happen with fiat, so why does it happen with crypto?


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June 12, 2017, 01:04:36 PM
 #13

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6
We do really experience crash in past decades but still it stood still and gradually become strong and i wont really suggest that we should put all of our money on bitcoin because its really a risky thing to do on a certain individual.I would more believe that bitcoin would easily be crashed compared on our economy as of today.It might crash but can still able to recover up no matter what and thats financial system works backed by government.
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June 12, 2017, 01:27:03 PM
 #14

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

It would be a smart investment I believe for many people to have their future outlays of money be put into BTC.

Sure it makes sense when the price is going up an up and away! But is the price of BTC going to continue to go up this year?it is possible that it will stay flat for awhile. You do not want to risk putting your savings into something that can flatline or drop to zero. Savings are usually something that has a lower amount of return but is considered very safe.

All we need is another MTGOX and there go a bunch of peoples value on BTC unfortunately...
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June 12, 2017, 01:27:33 PM
 #15

Don't think something like this is ever going to occur, as people have always thought that during a financial crash the best place for your money is probably going to be sitting in banks (FDIC insured of course) as you're not going to lose out in any situation like that, given that you don't have any money held up in the stock market or anything else along those lines. Though, some people may argue that they'd rather their money be in something that is going to yield you money during a financial meltdown, which could be something along the lines of gold

I thought the Cyprus haircut taught people a good lesson

But it seems that it should be taught every now and then on a more or less consistent basis since people still blindly believe in banks and that their money cannot be confiscated (or stolen) by the government itself. That's basically the reason why gold, obsolete gold is still highly popular among folks. This is not something which can be easily taken away from you, this is not something which can be stripped off of all or most value by some rogue government (in this respect Bitcoin smells good too)

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June 12, 2017, 01:31:31 PM
 #16

There were many time that people let market crashes even collapse worst is dead alligations but nothing happened it still moving forward actually no one can make our market crash down especially fiat money because it is everyone's necessity so why people will let things down when it helps their daily needs? But investing in bitcoin is fairly good and more profitable.
I guess this kind of rumors is not that effective to make people change their minds, blowing their minds that something will happen so they need to switch on bitcoin.
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June 12, 2017, 01:44:41 PM
 #17

Gold & Silver is not the ultimate Safe Heaven for wealth. < Governments has banned and confiscated Gold & Silver ownership before >

Yesterday is not the same as today

Before people somehow had more trust in the government, now this blind faith is mostly gone, and no one is going to give a fuck about some random dudes demanding what doesn't belong to them. Obviously, you refer to the executive order signed in 1933 by the US president Roosevelt and which "forbids the hoarding of gold coin, gold bullion, and gold certificates within the continental United States", as per Wikipedia. Now imagine that Trump issues a similar order, and do you really think that people will voluntarily give away their precious gold? The possession of gold in the US is said to be well correlated with the possession of guns, so you may well picture the outcome of this endeavor

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June 12, 2017, 01:51:09 PM
 #18

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

there's many people who thinks themself as great and releases hypothetical theory and predictions so we people have our 6th sense and we should not care about their word we are human and are intelligence enough and we can justify whether the saying if any third person is try our not. Blindly believing on them might not work all the time we have to check oneself whether the saying is true of hypothetical. He told that there will be financial crash edition few years but how he know that. How pore can predict  future of market. It's all about people who have full control over market and it's elements which are either directly or indirectly linked to market stabilization. And it's not easy that their will be financial crash and how can he say that I don't agree with statement. And yes it's good idea to save money in bitcoin because as the price will touch high and we will have actually more valued money when we will sell it so it's a plus point for us.
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June 12, 2017, 01:54:46 PM
 #19

Bitcoin, gold and ethereum I think and with the way things are going now it looks like Ethereum is the safer bet too.

In any case I think crypto has cemented its place in our world for generations to come.
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June 12, 2017, 02:00:27 PM
 #20

As what jim rogers explains that he predicts the fall of the market in a few years he invites us so we can invest with technological developments at the moment just as we are investing using bitcoin because at present the bitcoin value is so promising that he can predict it in a way We are investing in it then it will be more promising for future economic needs.
But I do not think we are required to save all our money into bitcoin because it is feared if we do that security by investing in bitcoin in the future will experience a very weak level of security so that the money we invest can be easily stolen by people who Crime through the internet.
But if we are already very confident with the security system via the internet we should do some of our money that will be invested by setting aside our income and put into bitcoin.
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