Will people start moving their savings to Bitcoin in case of a financial crash?

[HabBear]

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^

Most people in the developed world believe Bitcoin is the next bubble. And specifically for the reasons you mention about "we already see people running to Bitcoin."

What actions have Governments taken since 2009 that have given logical reason for investors to "run to Bitcoin"? The only scenario I can think of is the financial crisis in Cyprus. Is there any other real scenario? If not, we might be high on the bubble.

But just like the dot.com bubble burst, it cam back with rabid growth. Many of those dot.com companies failed...just like many of the alt cryptocurrencies will fail, but the tech industry thrived after that. So will the Bitcoin industry.

[Omega Weapon]

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.

Everything ends, no exceptions, that is the rule, to think the economic markets can go on forever is a mistake many do because they do not look at things from an historical perspective, just look at all the empires that fell, and with them their economies fell to, remember just because the economy of your country fails and sinks, it does not mean you need to sink with it as well.

[n0ne]

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.

Everything ends, no exceptions, that is the rule, to think the economic markets can go on forever is a mistake many do because they do not look at things from an historical perspective, just look at all the empires that fell, and with them their economies fell to, remember just because the economy of your country fails and sinks, it does not mean you need to sink with it as well.

When the economy of the country sinks and there is no alternate solution surely the citizen too will sink with it. Hopefully it's good to be on the safe side with investment on cryptocurrencies. Also people will surely move towards bitcoin or something else, because few examples have taken place in the past with Countries like India and China. When they have been experiencing a money problem the usage of cryptocurrencies from those countries increased a lot.

[izanagi narukami]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

[pearlmen]

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

Financial crises has happened in the past and the world didn't go into flames even as at the time, I didn't know about bitcoin the same thing with a lot of people but we survived. So whether financial crises will happen is not s direct flow into keeping investment in bitcoin because of the fear that might crash as well. There are several fixed assets to keep money with real estate one of the surest way although depending on the country of residence.

[Amph]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

bitcoin will always be considered a risky investment because the value is based on supply and demand, not matter the adoption, all the swings you are seeing today will happen in the future with a better value also

but not it's the time to invest to have your seat for the great run that will make you rick, and make your investment worth it in the future, with gold you are only losing possible value

[Gyfts]

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.

As you can tell, ETH has been extremely unstable and that's exactly why it's delusional to store your entire life savings in a cryptocurrency. Right now, USD or something like GBP are solid currencies that are stable to invest in. Most Americans and Europeans are good with their financial systems. South American countries are the ones that need to consider their investments.

[deisik]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

Gold can be quickly made illegal

If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms

[yugyug]

is it happening in china now, as their CNY currency was weakining, some chinese people started to buy and some are moving their investments and savings into bitcoin, as you can see in fiatleak's website majority of the BTC flow came from china.

[Weatherby]

The relevance of bitcoin and other alternative investment comes when we hear all these news,you cannot really predict exactly whether there will be a financial crash coming up but i really do not trust big bankers with my money after what happened with the meltdown of 2008.

[itsallpc]

Economic crisis is some times expected to happen.Lat time,in 2008,when economic crisis happened,people didn't have a choice to invest in bitcoin as it was not familiar at that time.So they had the only choice to choose traditional methods like gold,etc.But now they have the ultimate choice,bitcoin.Though it has not been experienced earlier by investing in bitcoins during crisis,but people would find bitcoin as a ray of hope.

[xypos]

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's definitely not.

I think that an economic collapse will be completely expected. There is no fiat currency that has existed forever, all of them will collapse one way or another, through war(which is completely possible, but hopefully won't happen), a bubble bursting like the 2008 housing bubble, banks failing, or just government not having the usual control that they had.

Bitcoin would be the logical alternative here as it is completely unrelated to how the fiat framework runs. If an economic does happen, there is something that has gone completely out of hand in the fiat monetary system. So people will definitely look at a range of alternatives, and probably bitcoin will succeed.

[jorneyflair]

Firstly, something like that or the Great Depression repeating itself seems very unlikely and I don’t really believe it. It’s just a couple of people’s opinion and predictions, but it still is possible. After the Great Depression, I feel that the government has to be monitoring our market and making sure we don’t go through another financial crisis anytime soon. A couple of years back some of the big banks, which we thought were too big to crash actually almost crashed, a lot of them actually went through financial problems.
 
I don’t think if the market crashes it will be good for Bitcoin and cryptocurrencies in general since if the market just crashed after us thinking that it wouldn’t, what is to say that cryptocurrencies don't crash the next week? Let's hope this doesn’t happen because to be truly honest, I would have no idea what to do with myself.

[bryant.coleman]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

Gold can be quickly made illegal

If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms

I don't think that I will ignore gold if a massive financial crash happens. I would be more interested in preserving my wealth, rather than aiming for profits. Gold is the most suitable asset for this purpose. The other assets such as fiat currency, equities, treasury bonds.etc can become worthless if the economy crashes.

[DoublerHunter]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

Gold can be quickly made illegal

If things start to go massively awry for the government (as it had already happened in the past). Whether this will have any effect or impact is another question though. If you are looking to preserve your wealth, gold may well be the best option currently available (at least, regarding passive investments), but you should have this wealth in the first place. If you are only going to build it, gold is not the investment you should be looking into since the profits it offers are marginal at best and on par with dollar inflation over long terms

I don't think that I will ignore gold if a massive financial crash happens. I would be more interested in preserving my wealth, rather than aiming for profits. Gold is the most suitable asset for this purpose. The other assets such as fiat currency, equities, treasury bonds.etc can become worthless if the economy crashes.

I will do the same thing like you, Gold is one of the most precious metal and it is a good asset to put our money for investment and preserving because in the long run even though there will be financial crisis then it is just for short term because after 10 years everything is normal again and our gold that has been bought at the financial crisis event is already give us good profits.

[xFiber]

As long as people are uneducated about cryto there's no way that people will start moving their life savings into bitcoin or antoher crypto. Even if there will be another crash. And here's why. You need to understand that people have worked their asses of for maybe the majority of their life so they want to keep it as safe as possible. Right now bitcoin is not user friendly enough to attract the majority of people (e.g the bitcoin addresses are too confusing). You have to realize there are still a lot of people who have trouble using a computer, including my parents. But I believe at some point people will start to move their money into bitcoin and if that happens, o boy, we're not going to the moon but to another galaxy.

[Rinder]

As i known  we are already doing those, we had mooved our savings into crypto on the last years, bitcoin is the digital gold and with a lot potencial. Bitcoin is being used for savings of some people, sure financial crash would affect all but its a good moment to invest over crypto to avoid those.

[Pearls Before Swine]

Yeah, people are going to flock to an unproven, fairly new asset, and one that has nothing backing it up except popularity.   Sounds legit.

Bitcoin isn't a safe haven asset, and panicked investors will flee to gold and bonds in the event of a disaster,  just like they always do.   And people have been predicting the end ever since the beginning.   And they'll keep doing so.  When the end comes none of us will see it coming.

[deisik]

As long as people are uneducated about cryto there's no way that people will start moving their life savings into bitcoin or antoher crypto. Even if there will be another crash. And here's why. You need to understand that people have worked their asses of for maybe the majority of their life so they want to keep it as safe as possible

This is rarely the case in real life though

If people have been working and saving every penny for decades, it doesn't mean that they are in any way protected from Ponzi schemes, HYIPs and similar scams. History knows quite a few cases when folks poured their life time savings into such fraudulent investment operations only to lose all in the end. This has more to do with psychological traits of a person and common sense rather than how long it took to gather some monies. Though I admit that there is still indirect relationship between financial prudence and saving. In other words, people which save are more reasonable, cautious and suspicious on average than those who just waste their income altogether and live paycheck-to-paycheck (or even on credit)

[epitome]

At the moment , I think it's still risk for me to move my all money into bitcoin since bitcoin still consider as risky investment not currency
So my better option still convert my money into gold or other well known investment that have been legalized by goverment

In a financial crises it is better to move your assets to gold and there will be a huge influx of investment in the crypto market as well,the fact remains that there is no other viable options to move your money when there is a economic crises because everything will be affected.