If BTC rallies here, the media will equate it to the partial US shut-down.

[annette786]

It's only a matter of time before BTC is a safe haven.

[Birdy]

True, they will most likely do that.
Would be great ^^

[SheHadMANHands]

True, they will most likely do that.
Would be great ^^

And they would be right (at least partially) to do so.  This gov't "shutdown", negative attention on the US dollar, and political frustration is a perfect combo for Bitcoin.  In my opinion, it trumps any chart analysis in the short term.

[pand70]

I think it will take a bubble for the media to connect bitcoin with the shut-down.And i don't see that happening any time soon...

[vokain]

True, they will most likely do that.
Would be great ^^

And they would be right (at least partially) to do so.  This gov't "shutdown", negative attention on the US dollar, and political frustration is a perfect combo for Bitcoin.  In my opinion, it trumps any chart analysis in the short term.

It rings emotionally though.

[yayayo]

If BTC rallies here, the media will equate it to the partial US shut-down.

For what reason would "the media" (= US media) do that?

Relating Bitcoin to safe havens such as precious metals already occured a few times in the media - presumably because of the mining concept. I think the media will portray Bitcoin as a safe haven only if Bitcoin's price movements correlate strongly with already established safe haven assets. This is not the case. Bitcoin mainly does one thing: rise against all other assets. It only reacts to bitcoin-specific news.

Of course I'm sure that Bitcoin is indeed a safe haven. But I think the mainstream media will need a few years to realize that.



ya.ya.yo!

[ElectricMucus]

The safe haven thing is bullshit and you all know it.

[ScrapOfCat]

The safe haven thing is bullshit and you all know it.

"safe?"  obvious bs.  best bet among current options?  quite possibly.

[ElectricMucus]

The safe haven thing is bullshit and you all know it.

"safe?"  obvious bs.  best bet among current options?  quite possibly.

"quite possibly" is too.

[ScrapOfCat]

The safe haven thing is bullshit and you all know it.

"safe?"  obvious bs.  best bet among current options?  quite possibly.

"quite possibly" is too.

hm, in the last year my btc is doing considerably better than all my other savings.  Gold, silver, cash?  i wish i'd bought bitcoins instead.  but then, since you lost money, I'm sure I will too....

[ElectricMucus]

In terms of doing better that is always shares in the right upstarting company, and in terms of security well, living in a self reliant community.
Both are unrelated, and there is no substitute or inbetween them because it is possible to have both at once.

Bitcoin is neither.

[Cubic Earth]

The 'safest' think one can do with their assets is to be diversified amongst as many different asset classes as is possible.  And the more diverse the asset classes, the better.  Crypto-currencies, as an entirely new asset class, should be part of every diversified portfolio.  The riskiest thing an investor could do is ignore future technologies and movements.  Investing is about the future.

Almost every article I read that touches on 'should I invest in bitcoin' comes to the same conclusion: bitcoin is just too risky for the average person to put money into.  That conclusion is just such a load of bullshit, and it comes from the people who purport to offer sound advice.  If it is risky, just put in a smaller percentage of your wealth.  How can any investment be 'dangerous' if you only invest 0.5% of your assets?  Many people invest in a larger percentage of their money into scratch tickets.

[SheHadMANHands]

The 'safest' think one can do with their assets is to be diversified amongst as many different asset classes as is possible.  And the more diverse the asset classes, the better.  Crypto-currencies, as an entirely new asset class, should be part of every diversified portfolio.  The riskiest thing an investor could do is ignore future technologies and movements.  Investing is about the future.

Almost every article I read that touches on 'should I invest in bitcoin' comes to the same conclusion: bitcoin is just too risky for the average person to put money into.  That conclusion is just such a load of bullshit, and it comes from the people who purport to offer sound advice.  If it is risky, just put in a smaller percentage of your wealth.  How can any investment be 'dangerous' if you only invest 0.5% of your assets?  Many people invest in a larger percentage of their money into scratch tickets.

Bolded... good point.  Hear that all the time - "too risky".

[n8rwJeTt8TrrLKPa55eU]

The 'safest' think one can do with their assets is to be diversified amongst as many different asset classes as is possible.  And the more diverse the asset classes, the better.  Crypto-currencies, as an entirely new asset class, should be part of every diversified portfolio.  The riskiest thing an investor could do is ignore future technologies and movements.  Investing is about the future.

Almost every article I read that touches on 'should I invest in bitcoin' comes to the same conclusion: bitcoin is just too risky for the average person to put money into.  That conclusion is just such a load of bullshit, and it comes from the people who purport to offer sound advice.  If it is risky, just put in a smaller percentage of your wealth.  How can any investment be 'dangerous' if you only invest 0.5% of your assets?  Many people invest in a larger percentage of their money into scratch tickets.

Bolded... good point.  Hear that all the time - "too risky".

Yep.  No excuse for stupidity and lack of research.  Bitcoin (and uncorrelated assets in general) have been empirically shown to reduce risk and volatility, when ingested in appropriate doses:

Using weekly data over the 2010-2013 period, we analyze a Bitcoin investment from the standpoint of a U.S. investor with a diversified portfolio including both traditional assets (worldwide stocks, bonds, hard currencies) and alternative investments (commodities, hedge funds, real estate). Bitcoin investment has highly distinctive features, including exceptionally high average return and volatility. Its correlation with other assets is remarkably low. Spanning tests confirm that Bitcoin investment offers significant diversification benefits. We show that the inclusion of even a small proportion of Bitcoins, say 3%, may dramatically improve the risk-return trade-off of well diversified portfolios.

https://dipot.ulb.ac.be/dspace/bitstream/2013/149159/1/wp13031.pdf

[integrity42]

The media will panic when BTC hits $1,000.   Traditional 'economists' and wealth managers will be playing catch-up.  Average americans will be hearing about it everywhere and will demand their 401K's invest.

$1,000 to $10,000 will happen faster then $1 to $1,000.

[BitChick]

The media will panic when BTC hits $1,000.   Traditional 'economists' and wealth managers will be playing catch-up.  Average americans will be hearing about it everywhere and will demand their 401K's invest.

$1,000 to $10,000 will happen faster then $1 to $1,000.

I agree that think the price could jump quickly especially as it gains momentum.  I guess the only thing that makes me think this might not happen is that people have a harder time parting with $1000 instead of $100.  Of course, if they have more confidence in the currency it might not be a problem.  We will see.  It should be a fun ride.

[zoinky]

You guys are giving me chills.

[Walsoraj]

"Bronn [Game of Thrones]: Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes."

If US defaults, gold = diamonds= bitcoins. All worthless compared to FOOD.

[BitChick]

"Bronn [Game of Thrones]: Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes."

If US defaults, gold = diamonds= bitcoins. All worthless compared to FOOD.

Hence why my husband should appreciate the hoard of stuff I have in our pantry!

[Operatr]

In a sudden collapse scenario only things of barter value will be useful, like food, water, and ammunition. Assuming the worst, Bitcoin needs infrastructure to operate, and if the grid goes down Bitcoin isn't going to be all that useful. With no working economy based on a medium of trade using a currency, the choices are then trading or taking by force.

I think Bitcoin could be a fine replacement for our current economic system in time, but we're not there yet to fend off a massive currency collapse in a 100 year old established institution.

It is very difficult to predict what happens now, we just have to see what happens.

Seems BTC is up today with 4 days left for a decision that basically decides the fate of the global economy.