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Author Topic: Upcoming economic crisis - crypto safe haven like gold or not?  (Read 989 times)
hoosen
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August 05, 2018, 09:05:53 PM
 #41


There are enough signs that an economic crisis is going to happen soon in the next 3 - 5 years.

Whether China's bubble will burst or the dollar will implode.
Do you guys think crypto will be as good an investment as gold in time of crisis?
Probably in the time of global economy crash that you are predicting here with come and would remain stable because it is a crypto currency which has no things to do with a real one.

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aoluain
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August 05, 2018, 10:38:19 PM
 #42


There are enough signs that an economic crisis is going to happen soon in the next 3 - 5 years.

Whether China's bubble will burst or the dollar will implode.
Do you guys think crypto will be as good an investment as gold in time of crisis?

There will be no "economic crisis that will be so bad" that will make the world economy suffer hyperinflation. The Keynesians have already learned that to mitigate an economic crisis is to pump as much fiat in the system and the tax the consumers more later.

It has been working and it will work for the next 1000 years until the people are so taxed
and so poor.

Is this really happening already? Is this causing the wealth divide?

On the crypto/gold safe haven, both have advantages and disadvantages.
Gold is more stable than bitcoin but is much more bulkier!
IMO its harder to buy Gold than Bitcoin and harder to store safely.

I will be having both metals and bitcoin.



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August 06, 2018, 05:43:29 AM
 #43

There are enough signs that an economic crisis is going to happen soon in the next 3 - 5 years.

Whether China's bubble will burst or the dollar will implode.
Do you guys think crypto will be as good an investment as gold in time of crisis?
As much as I would love for the dollar to implode, I wouldn't want for it to happen. The whole world will collapse and fall to misery. China's bubble is already on the verge to burst, its in the middle of a trade war. Crypto is not an investment. People think that, but its not. For me, at least bitcoin isn't. I use it as a currency and I proudly do so. But most people might actually resort to crypto as an investment. I watched Mr.Robot, and when everything failed and the entire banking system and credit/debit cards went down, people were hunting for crypto and hard cash. So you never know.

That's a good point, we shouldn't be wishing for something that would cause misery for the entire world. The dollar isn't the best solution, but it's the only solution that is working at the moment. We can replace it further down the road. We shouldn't hope for another big market crash in order to do so, however. Just like that scene in "The Big Short" where the guy tells those two younger bankers "You do realize if you win this bet, millions of people in America are going to be homeless". It's not a bet we would want to win. It is one that we need to be prepared for though.

So many points in where I agree for sure. I would love to see misery spared, but actions have consequences. America, just like China btw are living with maxed out credit cards. The problem for the US is that 1/3 of its debt is in the hands of China.

The problem is also that overspending is just not sustainable, the bill will come. Our grandparents' generation and our parents generation have accumulated a debt that our generation can't pay off. I'm wondering if country heads think that their debt will be forfeited.

As a trader, we just play the markets. If the big short on the dollar comes, you're a fool not to try to make money off of it. I think Bitcoin will stick around and I do think the value of it could go down as the dollar will crash, but when economies will recover so will the value of bitcoin. Getting in at the right price, that's what I'm banking on.

Yeah and that's what trading is about. People tend to demonize the job because they think that traders are stealing money from the poor or causing assets to be overvalued but that's not true. Traders just provided added liquidity to the process. They inject money where it is useful.

We all have feelings too and cannot wish death and destruction for our own financial gain. We can, however, position ourselves accordingly and be ready if it does in fact happen. It's inevitable at this stage because we've borrowed ourselves into a corner, and everyone knows it. They're just plugging their ears and singing "this time is different!"
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August 08, 2018, 04:56:29 AM
 #44

For the people who are wondering about the crash ahead ... just for context ... i found this video.

Economic Collapse Warning! $70 Trillion Dollar Dark Cloud Of Debt - Stock Market Crash 2018
https://www.youtube.com/watch?v=TV01S_haL0g
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August 08, 2018, 11:28:27 AM
 #45


There are enough signs that an economic crisis is going to happen soon in the next 3 - 5 years.

Whether China's bubble will burst or the dollar will implode.
Do you guys think crypto will be as good an investment as gold in time of crisis?
If we are going to unavoidable economic crisis in 2019 I don't think that people would consider cryptocurrency as the only exit from it, it would be good and positive for us if they would consider that as one of the possible ways at least.
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August 08, 2018, 05:25:58 PM
 #46

In times of economic crisis this crypto currency like bitcoins will help to stabilize the economic down turn and will help in improving the economic conditions of the world, as crypto currencies helps in providing a source of income and curtail employment issues when there is an economic crisis the value of fiat currency will get down due to increase in the bad debts this bitcoins and crypto currencies will help to solve the problems as the price of bitcoins is far higher than fiat currencies and will solve the financial problems of the economy.
I think it is the opposite, bitcoin will help to make things worse, why you may ask? Because now the middle class has something they can buy to preserve their wealth, in a economic crisis like the great depression, those that were poor before the crisis do not lose much, the rich do not lose much either since most of their wealth is in real estate, gold, jewelry and in the form of businesses, the middle class is the one that suffers the hit from the crisis.

But with bitcoin there will be people that will be able to escape the confiscatory measures imposed by the governments which means that governments will get even less wealth if they try to steal from you with taxes or inflation making the crisis even worse, I am sure that at that point the masses will cry for a windfall tax and all of those that got bitcoin or gold will be subject to it but at that point civil disobedience will be high and many will not comply.
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August 08, 2018, 10:45:03 PM
 #47

Are you kidding? Please, look at the charts of ethereum and bitcoin. There are the very strong downtrends in these assets. I am already tired to watch these downtrends. Last several days I saw quotations and market was stably in the red zone showing from -3% to -20% by assets. I think that in such a situation it is strange to talk about a safe haven because I am sure that prices will continue slashing.
It is a pity that I am still holding ETH and I acknowledge that I have mistaken with this bought. Well, I am frank with you talking about the current market situation and I consider that crypto assets in the current moment of time is not a good choice for investing and I am not sure that crypto assets will be strong in a period of the further crisis.

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August 08, 2018, 10:57:53 PM
 #48

Economic crisis is a very serious problem, the government must be able to anticipate and prepare carefully before the economic crisis occurs. the possibility of a dollar price that will explode, because at this time the dollar continues to strengthen.

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August 12, 2018, 04:40:22 PM
 #49

Are you kidding? Please, look at the charts of ethereum and bitcoin. There are the very strong downtrends in these assets. I am already tired to watch these downtrends. Last several days I saw quotations and market was stably in the red zone showing from -3% to -20% by assets. I think that in such a situation it is strange to talk about a safe haven because I am sure that prices will continue slashing.
It is a pity that I am still holding ETH and I acknowledge that I have mistaken with this bought. Well, I am frank with you talking about the current market situation and I consider that crypto assets in the current moment of time is not a good choice for investing and I am not sure that crypto assets will be strong in a period of the further crisis.
You are only seeing things as they are now, we are talking about how the events may unfold in the future in the case of a crisis, and we have seen several local examples of this and one of the most notorious is Venezuela, the inflation in that country is terrible and people are looking for ways to improve their situation, some use dollars but dollars are scarce in their country and many people have began using bitcoin and other crypto to store their wealth.

In the case the US dollar fails what can you use to protect yourself from that? Gold and silver are good options but not many have them and can be easily confiscated, but cryptocurrencies can be held without no one knowing you have them and even if someone knows they cannot take them away without your keys so in that way crypto is safer to store than gold or silver.
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August 12, 2018, 10:32:33 PM
 #50

Economic crisis is a very serious problem, the government must be able to anticipate and prepare carefully before the economic crisis occurs. the possibility of a dollar price that will explode, because at this time the dollar continues to strengthen.
Not necessarily the dollar will rise because of recent times it is still. The economic crisis will also be very unlikely when relationships are tight. In particular, the power of digital technology has changed the entire market.

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August 12, 2018, 11:09:02 PM
 #51

Are you kidding? Please, look at the charts of ethereum and bitcoin. There are the very strong downtrends in these assets. I am already tired to watch these downtrends. Last several days I saw quotations and market was stably in the red zone showing from -3% to -20% by assets. I think that in such a situation it is strange to talk about a safe haven because I am sure that prices will continue slashing.
It is a pity that I am still holding ETH and I acknowledge that I have mistaken with this bought. Well, I am frank with you talking about the current market situation and I consider that crypto assets in the current moment of time is not a good choice for investing and I am not sure that crypto assets will be strong in a period of the further crisis.
You are only seeing things as they are now, we are talking about how the events may unfold in the future in the case of a crisis, and we have seen several local examples of this and one of the most notorious is Venezuela, the inflation in that country is terrible and people are looking for ways to improve their situation, some use dollars but dollars are scarce in their country and many people have began using bitcoin and other crypto to store their wealth.

In the case the US dollar fails what can you use to protect yourself from that? Gold and silver are good options but not many have them and can be easily confiscated, but cryptocurrencies can be held without no one knowing you have them and even if someone knows they cannot take them away without your keys so in that way crypto is safer to store than gold or silver.

Yes, the financial anonymity can be very important during the times of an economical crisis, so the crypto currencies can be useful for saving a wealth. But I don't see any failure of USD. In contrary, currently the US dollar is a very profitable asset in comparing to the fiat currencies of other countries. Recently some of these fiat currencies have crashed down to 20%. Who knows, maybe non-US investors sold their crypto currencies and bought the US dollars to exchange them later and gain profits. In my opinion, the investment portfolio should be diversified by crypto and fiat.

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airdropwwani
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August 12, 2018, 11:39:18 PM
 #52

When the financial crisis broke out, stocks, gold and real estate all fell against the dollar. The dollar is still falling in value due to inflation until today. I think that it is better to keep living expenses for several years while exchanging it for other assets little by little. We also consider BITCOIN as part of assets,too.

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August 13, 2018, 12:04:43 AM
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 #53

In the case the US dollar fails what can you use to protect yourself from that? Gold and silver are good options but not many have them and can be easily confiscated, but cryptocurrencies can be held without no one knowing you have them and even if someone knows they cannot take them away without your keys so in that way crypto is safer to store than gold or silver.
It's true that crypto is the better option, but the main problem is that there isn't one single crypto currency able to handle mass adoption. We have seen how Bitcoin's network crippled completely due to the bull run last year.

If Bitcoin can't even handle a few hundred thousand people using it in a single day, it won't ever be able to handle one million users trying to have their transactions confirmed within one day.

We have to look at our crypto currencies without hyping them up too much. As it is right now, they are all incompetent and haven't gone through any upwards scaling improvements to even remotely allow more usage.

Orville_Brown
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August 13, 2018, 02:18:38 PM
 #54

Are you kidding? Please, look at the charts of ethereum and bitcoin. There are the very strong downtrends in these assets. I am already tired to watch these downtrends. Last several days I saw quotations and market was stably in the red zone showing from -3% to -20% by assets. I think that in such a situation it is strange to talk about a safe haven because I am sure that prices will continue slashing.
It is a pity that I am still holding ETH and I acknowledge that I have mistaken with this bought. Well, I am frank with you talking about the current market situation and I consider that crypto assets in the current moment of time is not a good choice for investing and I am not sure that crypto assets will be strong in a period of the further crisis.
You are only seeing things as they are now, we are talking about how the events may unfold in the future in the case of a crisis, and we have seen several local examples of this and one of the most notorious is Venezuela, the inflation in that country is terrible and people are looking for ways to improve their situation, some use dollars but dollars are scarce in their country and many people have began using bitcoin and other crypto to store their wealth.

In the case the US dollar fails what can you use to protect yourself from that? Gold and silver are good options but not many have them and can be easily confiscated, but cryptocurrencies can be held without no one knowing you have them and even if someone knows they cannot take them away without your keys so in that way crypto is safer to store than gold or silver.

Yes, and this is how crypto is becoming the new gold. It is nothing like gold, but it shares the feature of being a secure way to protect money against extortion, abuse, taxes, devaluation, crises, etc. etc. There are many reasons why using crypto is more practical than fiat, and even gold, but unfortunately too much of the publicity focuses on the high profile hacks to make it appear as extremely high risk.



It's true that crypto is the better option, but the main problem is that there isn't one single crypto currency able to handle mass adoption. We have seen how Bitcoin's network crippled completely due to the bull run last year.

If Bitcoin can't even handle a few hundred thousand people using it in a single day, it won't ever be able to handle one million users trying to have their transactions confirmed within one day.

We have to look at our crypto currencies without hyping them up too much. As it is right now, they are all incompetent and haven't gone through any upwards scaling improvements to even remotely allow more usage.


This is something that we need to look at more seriously. Sure, Bitcoin has the best concept, especially that being in decentralization, but does it have the capabilities to hold up its worth? There are big dreams around here for Bitcoin but there needs to be much more done to bring it to those levels.
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August 13, 2018, 02:41:49 PM
 #55

Is it a joke? How cryptocurrencies can be a safe??? Crytomarket is too volatile and almost unpredictable! And safe investments require stability.You can quckly earn money on crypto, you can be anonymous using crypto, but you can not be in safety investing in crypto!

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August 15, 2018, 02:05:53 PM
 #56

Is it a joke? How cryptocurrencies can be a safe??? Crytomarket is too volatile and almost unpredictable! And safe investments require stability.You can quckly earn money on crypto, you can be anonymous using crypto, but you can not be in safety investing in crypto!

The real question is whether you think bitcoin will stay this low forever ... if not then it's an opportunity to invest in ...
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August 15, 2018, 03:09:40 PM
 #57

Bitcoin on an equal footing with gold can become a reliable storehouse of your savings for the time of crisis. However, this way of saving will be chosen by fewer people.

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August 15, 2018, 03:33:26 PM
 #58

Bitcoin is definitely not a bubble. And it can be equated to gold by basic characteristics, so we can assume that during the crisis bitcoin will become a reliable depository for your savings. The main thing is to protect your wallet, so that scammers do not steal our bitcoins.
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August 15, 2018, 03:40:35 PM
 #59

Yes,the decenterlization for blockchain will slove the economic destroy degree.
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August 16, 2018, 05:53:32 PM
Merited by BitHodler (1)
 #60

In the case the US dollar fails what can you use to protect yourself from that? Gold and silver are good options but not many have them and can be easily confiscated, but cryptocurrencies can be held without no one knowing you have them and even if someone knows they cannot take them away without your keys so in that way crypto is safer to store than gold or silver.
It's true that crypto is the better option, but the main problem is that there isn't one single crypto currency able to handle mass adoption. We have seen how Bitcoin's network crippled completely due to the bull run last year.

If Bitcoin can't even handle a few hundred thousand people using it in a single day, it won't ever be able to handle one million users trying to have their transactions confirmed within one day.

We have to look at our crypto currencies without hyping them up too much. As it is right now, they are all incompetent and haven't gone through any upwards scaling improvements to even remotely allow more usage.
You are right but the crash is not going to happen today or tomorrow, those kind of events take a lot of time to unfold so the developers have time to prepare for that, I am not trying to hype bitcoin I understand its limitations very well, and at the moment gold and silver are still superior when you take all the factors into consideration since they can be used outside of the banking system and you do not require of infrastructure like the electric grid or the internet.

But bitcoin can be used as a refuge by some people, especially us that already have some bitcoin in hand, since I really do not expect such a collapse to happen at least in a  decade or two so I have no doubts that bitcoin will be ready when such a crisis finally find us.
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