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

[Daniel91]

I don't know about others but I already invested part of my savings in bitcoin.
People are generally skeptic about new things and technology.
I know some people who are afraid to use internet banking or to shop over the internet, so such scenario will not happen soon for the most people, I'm afraid.
Some brave and smart people, like us, are already doing this, investing our savings in bitcoin but we can't know how many of us.

[ilovefeetsmell]

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

I hope it will not gonna happen in next few years. I'm starting moving my money into bitcoin but not all my money. In our life, we live to survive. In our world, we would say "Survival of the Fittest" so if you gonna win every struggle you are the fittest among us. It is the same situation in money or what we say fiat money. I think the government will hold and control the money to avoid using bitcoin.

[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.

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.

This is what I mean, in the past the only way to protect yourself when your country fell was to leave your country, but now with bitcoin you will always have as much money as you had the day before, no matter what the government in turn says or do, they cannot do anything to change that reality, so for the first time in history you are able to avoid the fate of the country where you live simply by having access to this new technology.

[GreenBits]

In the case of a traditional market financial crash, bitcoin might not be the best option as a safe haven asset. Consider: not too many places actually accept bitcoin, they facilitate bitcoin remission by accepting fiat in exchange for your bitcoin, from a third party exchange. If fiats are disrupted, so would your ability to convert to a fiat through one of these payment portals. You would be worth a lot on paper, but the challenge of converting that virtual value to real world value might prove daunting in such a financially troubled time

Stick to physical stores of value in times of crisis. Precious metals, goods and tools, and land. You can always sell them after said crisis, they most likely will have appreciated

[Nevis]

I think its just a fud just to make a panic in those holder who will read it and believe it,he is doing it for her self only to buy more low valued bitcoins for storage on his wallet and for his future

[Taskford]

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

Well just like one of the fud nowadays. Spreading false information just to make the community go panic about the situation.
Like just what's up with this thing? Are you benefiting here?
Moreover, there are golds to invest and lil' bitcoin will be fine.

[eaLiTy]

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 refute this stand,no government will make gold illegal,but there will be restrictions in place on the amount of gold an individual can hold,in case of a financial crises gold is still the most secure investment method when the entire economy keeps tumbling and expect these sort of meltdown without any major warnings.I would definitely save my assets in the crypto market as well as in gold when there is a situation like that.

[deisik]

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 refute this stand,no government will make gold illegal,but there will be restrictions in place on the amount of gold an individual can hold,in case of a financial crises gold is still the most secure investment method when the entire economy keeps tumbling and expect these sort of meltdown without any major warnings.I would definitely save my assets in the crypto market as well as in gold when there is a situation like that.

I don't think that there will be such limitations

In fact, I don't really think that any government (at least, that of any developed country) will be looking to outright ban gold at all. Nevertheless, they will likely impose severe limits on how much gold can be moved out of country up to a point basically equal to a complete ban on such cross-border transfers. Governments won't be able to control how much gold a certain person keeps, that would be an exercise in stupidity and futility, but they can easily confiscate gold in, say, airports and other places via which gold can be moved out of country

[virasog]

You also do realize that this magical crash that you are speaking of is pretty much impossible at this point right?  After 1972, with the fall of the gold standard, the fate of the FIAT world is in direct control of the government and they will do what needs to be done to appear to not be a dire straits when they come. 

[Scorpion]

Many people in countries like Venezuela are already using Bitcoin to protect their store of value. The hyperinflation and economic uncertainty is crazy at the moment. One day BTC could mean survival or dying of starvation to some of these folks.

[Omega Weapon]

Many people in countries like Venezuela are already using Bitcoin to protect their store of value. The hyperinflation and economic uncertainty is crazy at the moment. One day BTC could mean survival or dying of starvation to some of these folks.

This is correct, but also bitcoin is illegal in Venezuela and the government is prosecuting people by dealing, transacting or by having bitcoin, they recognize the nature that bitcoin has that can help the people to overcome the tyranny of any government by allowing its citizens to avoid being robbed by their governments through the inflation tax.

[Anegg]

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

If the market crash, bitcoin will also crash. Even though bitcoin may be decentralized and not reliant on fiat currency, if that crashes or becomes worthless, who do you think will trust bitcoin as their payment method. Bitcoin does profit off small market crashes, but a big market crash will certaintly not be benifical to anyone. This crash that you are talking about is very impossible and their is barely any proof about this

[taxmanmt5]

There are lots of speculation of this kind of matter, yet nothing was proved it is because it is just a rumor just to make some issues even collapses of economy rises, dead of ones money. Actually to be honest bitcoin is not that ready to face entire world to cover up human needs especially for transactions because once it is published now many will be dump, bitcoins still need to prove itself more than what it has now.

[Novun]

In the case of a financial crash commodities like gold and silver also crash. Bitcoin would as well. The difference is the rate of recovery and growth. After the 2008 financial crash gold also crashed but it quickly recovered and kept rising for years because it took time for people to recover their faith the financial markets.
Also when we realize there is a crash its usually too late for the small fry like us to react.

[Sureness]

possible, but i think it will depend on how the people know about bitcoin or how information they have to fully trust bitcoin and see it as a good way to divert their assets incase that will happen.

[Xenophoto]

It would be so unlikely for someone that doesn't know about bitcoin to just know about it instantly in case of a financial crash. Most people that will be affected by financial crash don't even know how to find something that's a good store of value like gold or bitcoins. I know that I will save all my money to bitcoins.

I really doubt that a regular guy will just try to learn all these things by himself. Most people don't even know that their fiat currency is having lower and lower value due to inflation. They will only recognize it once it's hyperinflated like the Zimbabwean dollars. With the financial crash, the regular guy will just think that we're all in this together. He will think that he's not the only victim so he doesn't have to feel so bad about his money crashing down.

[OROBTC]

...

I agree with above comments that some savings will move into Bitcoin in a financial crash.  BTC could still go down even if some money goes into it, because other holders may need to sell to pay bills...

But, as deisik suggested, the time to get started is NOW (if you do not have BTC and/or gold).

It is always smart to be diversified, especially in times of financial crisis.  US stocks are down 1% or so as I write (tech stocks even more).

[posternat]

I think its just a fud just to make a panic in those holder who will read it and believe it,he is doing it for her self only to buy more low valued bitcoins for storage on his wallet and for his future

When there are issues that can lead to even worse issues, steps have been taken and these are always public and not hidden to much of an extent, and these steps have prevented financial disaster by spreading the issues out over time, covering the blood stains with a throw rug and keeping faith in the system by the people when there is little reason to have it.  No crash coming, Bitcoin is not a saving plan and this forum is not going to educate the new guy well with threads like this throwing false information into the wind.
 

[(altair)]

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.

Well if likely there will be a major crash is happening, I'd rather invest my finances to some business that I think that don't be affected by the crash. If I'll invest in cryptocurrency, just some part of my finances will do as there will no 100% assurance of return of investment. I'll distribute it equally where I think it can have a good output.

[jayc89]

possible, but i think it will depend on how the people know about bitcoin or how information they have to fully trust bitcoin and see it as a good way to divert their assets incase that will happen.

I feel that it’s possible as well since the people that have Bitcoin have somewhat of an idea that fiat is literally worth nothing unless the Government says that it’s worth something.
Bitcoin has a bunch of people with the confidence that fiat is just paper so once that disaster happens then they and the Government will move on to an electronic form for payments.