Why Cryptocurrencies Will Never Be Safe Havens

[celot]

All that pertains to large amounts of money, it would not be safe if it is not protected. There must be parties who target all the precious.

[Silberman]

https://mises.org/blog/why-cryptocurrencies-will-never-be-safe-havens

Discuss...

The pro-gold people never bring up two key points:

1) Gold has been already outlawed, and it could happen any time in the future again:
http://www.huffingtonpost.com/steve-mariotti/when-owning-gold-was-ille_b_10708196.html

2) Gold is absolutely useless when trying to cross borders. If your government becomes tyrannical, you will not be able to escape your country safely with your wealth if it's in Gold, or pretty much anything that isn't Bitcoin (or any other crypto, but we all know Bitcoin is the most solid hold coin)

Another set of good points and I will add, they also make the argument that all the government needs to do is to make it obligatory to declare your bitcoin holdings and that everyone is going to agree, when gold was baned in the US, the government declared that every citizen needed to give up their gold and while half of the population obeyed another half disobeyed the law, I think something similar will happen to bitcoin holders.

[severaldetails]

I am not sure if there is something like a safe haven.
When you invest in real estate, you can be sitting on an real estate bubble.
Invest in a fiat, the economy of that country can go belly up.
Invest in gold... well, it most likely won't be worthless, but it can fall as well when there is a positive economic trend
You always have to know your risks, and risks are everywhere.

[Stingray1970]

Not withstanding some responses here I think Mises.org has a valid point. The value of bitcoin depends on it's exchangeability to fiat currency that is generally accepted in the world to pay for things. If you cannot convert it back bitcoin is condemned to staying in the virtual world and nobody here will be able to retrieve their investment.

That is the crux of the bitcoin system at this point.

I had hoped that it had a better way of insuring the exchangeability.

If bitcoin had a way to ensure it had some actual backing...like gold,it might succeed. 

[Silberman]

I am not sure if there is something like a safe haven.
When you invest in real estate, you can be sitting on an real estate bubble.
Invest in a fiat, the economy of that country can go belly up.
Invest in gold... well, it most likely won't be worthless, but it can fall as well when there is a positive economic trend
You always have to know your risks, and risks are everywhere.

Gold is indeed a safe haven, real estate is not because constructions most of the time are not going to last more than a few centuries but gold can last forever and also since its discovery the price of gold has fluctuated but the sum of those fluctuations is zero which means that gold keeps its value and the most important thing is that you could change that gold for fiat in this era and pay for something and use that gold to pay something 2000 years ago and people will accept it even with the great difference in technology and time.

[whitemacna]

I read the whole thing, nothing new here it is obvious they are pro gold and they claim it is a store of value despite the fact that we do not know how much gold there is and how much it is going to be, In the digital-age that we are living, Crypto-currencies are the most practical store of value as long as the internet exists. If we are at the point where the internet is no longer and the world is in total chaos, then what good is gold and silver anyway? People will be more worried about food and survival each day.

[rose9696]

Although cryptocurrency is a very potential market and is being developed extensively. Because their convenience and modern technology have brought themselves problems. Not only do governments not know the number of people's assets, the government is not able to check the transactions of the bad people thanks to the anonymity of everyone in the crypto market.
So it will never be safe and we're going to have to face the heavy losses of the crypto market.