The only safe haven currency is Bitcoin

[Abhijeetcg]

Yes bitcoin have plenty of advantages that is very helpful to each and everyone of us who really support bitcoin from the start of it's discovery until now.
Many are buying bitcoin already and as you can see the price is keep on increasing though there are a little drop but in the following days it will increase again.

I haven't invested LTC in the past but I am sure LTC has a future especially that it belongs to the top 10 in coinmarketcap.

Really sir, Bitcoin was created to provide financial freedom from the existing cruel financial ecosystem. The government's Fiat money is losing its value and will soon become a worthless piece of paper. This is the best time to accumulate Bitcoin. Bitcoin is a digital gold.

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[EdenHazard]

I hope there is no ward in the world mean war that use weapons to kill and bombs to destroy because it's not time to make it happen. Indeed, bitcoin can be use as a currency because we can buy a stuff using bitcoin as long as there is merchant who accept it. But if not maybe we can change our money to money fiat to use it and this is a simple way. Also, bitcoin can be use as a safe place to save our wealth, we have to move our money fiat to bitcoin if there inflation comes. However, we still have a government which can make our strategy destroyed. They have policies that must be obeyed by us because if not we must ready with all future threats. Just keep your money on bitcoin and save it in a safe place sooner or later government will be aware of bitcoin.

[TheKeyLongThumbI]

As long at is not banned in your country, yes it is. Because if the government treated it an illegal currency then they will confiscate it for sure and then you'll get in prison if you are very unlucky. So if that is the scenario, you better not tell anyone about it and the one you call  a safehaven can put you to hell anytime. Or just get out of that country and enjoy earning in bitcoin.

[Yourhomeboy]

As long at is not banned in your country, yes it is. Because if the government treated it an illegal currency then they will confiscate it for sure and then you'll get in prison if you are very unlucky. So if that is the scenario, you better not tell anyone about it and the one you call  a safehaven can put you to hell anytime. Or just get out of that country and enjoy earning in bitcoin.

same way if someone is in a country where bitcoin is banned, they can move to a country where bitcoin is legalized and continue earning in Bitcoin, because it's the best way to earn money.

[kaya11]

I do not think so, because there is no secure system, even bitcoins can be hacked, through an unsecured exchange.

Only on exchanges though, and it is your own fault to phished too if ever that happens, we should be vigilant in terms of our assets, this is money we are talking and we can't talk and act lightly about it. And last thing is as of now it is not hack-able if it is on your wallet (cold wallet), I have never heard such things as of now.

[serjent05]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

Understanding currencies
Money, or essentially any fiat currency (such as USD, GBP or EUR) should satisfy three key criteria:

It should function as a medium of exchange,

It should be a unit of account, and

A store of value.

Although Bitcoin has some of the attributes listed above, it most definitely fails to meet them all. Let us take a look at them one by one.

Medium of exchange
We most probably have to agree with this one as more and more merchants are starting to accept Bitcoin as a payment option (Google has launched its payments API with Bitcoin, Amazon is rumored to soon start accepting payments in Bitcoin, etc). Moreover, the network of Bitcoin ATMs and the number of Bitcoin Payment Cards is growing constantly, which makes this crypto similar to our beloved fiat.

However, this is only one side of the coin. In fact, the most popular cryptocurrency performs quite poorly as a medium of exchange. This is fundamentally due to high volatility, which makes it inconvenient and impractical to denominate goods or services in Bitcoin. For example, at the beginning of the day you might price your MacBook at 1 BTC, but due to daily fluctuations (that can range up to 30 to 40 percent), at the end of the day it should cost 1.5 BTC. To put this into perspective, the daily exchange rate between USD and EUR is on average 1 to 3%.

Unit of account
In economics, a unit of account denotes a nominal monetary unit of measure or currency used to represent the real value of any economic item such as goods, services, assets or liabilities, income, expenses. Again, referring only to volatility, we can understand that Bitcoin does not satisfy this criterion.

Another important point to consider is that no lenders use Bitcoins as the unit of account for such things as consumer credit, loans or mortgages, nor are credit or debit cards denominated in Bitcoin, per se (you can spend your Bitcoin, but the real transactions happen in fiat since the digital currency is sold on the back-end).

Store of value
The last trait that should be found in any currency is probably the only one that fits Bitcoin the best.

https://cointelegraph.com/news/bitcoin-not-currency-never-will-be-expert-blog

Well Bitcoin fell short on the two category for now, namely medium of exchange due to the high volatility and unit of account since majority of institution does not consider bitcoin to represent real value of the given example on the quoted message, I believe in due time Bitcoin will be considered as one of the major currency of the world we just need to wait since Bitcoin development never stop.

[Qurelal]

I am so upset about investing in altcoins and never had trust in BTC.
Now they are the richest traders.
How can I invest in vitcoin now when the price is so big?

[Apes]

only people who truly understand cryptocurrencies certainly consider it a safe digital asset. most of ordinary people consider the opposite because of negative coverage news and lack of cryptocurrencies understanding. besides BTC and some Alt can also be considered as a quite safe coin for example ETH. and indeed in some countries cryptocurrencies are legal and are actually considered digital assets. and there are many other reasons that make cryptocurrency worth for investment.

[Mike Mayor]

My top choices for safe haven currencies and I am currently holding Btc naturally. Eth because tokens need it and its great for smaller transactions when paying a couple $ in btc to move slightly more then that is out of the question and you use eth. Then doge because it is cheap to withdraw from exchanges and is becoming a more widely accepted method of payment among many websites and payment processors. I just used some doge the other day to pay for something online. Very fast transaction and it cost me half a cent to send $12 Eth would be 10-40 cents and btc a a couple of $$ sometimes.

[suryati]

only people who truly understand cryptocurrencies certainly consider it a safe digital asset. most of ordinary people consider the opposite because of negative coverage news and lack of cryptocurrencies understanding. besides BTC and some Alt can also be considered as a quite safe coin for example ETH. and indeed in some countries cryptocurrencies are legal and are actually considered digital assets. and there are many other reasons that make cryptocurrency worth for investment.

yes I agree with you, only people who understand cryptocurrencies think that altcoin is an investment that can provide maximum benefits, but people who don't understand cryptocurrencies most people think altcoin is a digital currency that has very fluctuating prices and is very risky.

[CryptoBry]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

They view BTC as an asset primarily and don't consider it as a currency just like majority of the investors in the cryptocurrency market which is a much better and safer option for them. We need to reverse this asap by driving adoption rates higher with time through regular developments.

Bitcoin can be classified as both asset or property and as currency because it can function both. Now, why would many governments classify it as an asset? Primarily because they can easily tax it when taken as a property even if the money function is very visible with it. They look at the bitcoin like the physical gold therefore any gains (when bitcoin rises in price) one person may have that can be subjected to tax. We are hoping though that this classification will slowly be changing as years go on.

[Dontme]

Bitcoin has been confirmed as the best safe haven currency in the world with the following reasons.

1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.

2) The only one Currency not controlled by a government or bank.

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.

You can`t just advice people to buy bitcoin because it is unstable, who may know if it will still have value when war comes?

Government think bitcoin is property because it is always used as an asset to earn profit and not as a medium of exchange.

[Finestream]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

They view BTC as an asset primarily and don't consider it as a currency just like majority of the investors in the cryptocurrency market which is a much better and safer option for them. We need to reverse this asap by driving adoption rates higher with time through regular developments.

Bitcoin can be classified as both asset or property and as currency because it can function both. Now, why would many governments classify it as an asset? Primarily because they can easily tax it when taken as a property even if the money function is very visible with it. They look at the bitcoin like the physical gold therefore any gains (when bitcoin rises in price) one person may have that can be subjected to tax. We are hoping though that this classification will slowly be changing as years go on.

I agree.Hopefully this classification will surely change once btc will become a mainstream and there will be a massive adoption for bitcoin.For now,people see it as more of an asset or investment rather than a currency.Of course only crypto enthusiasts think like this while ordinary people think bitcoin as more of a scam because of the fake news that have spread already.

[gabbie2010]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

They view BTC as an asset primarily and don't consider it as a currency just like majority of the investors in the cryptocurrency market which is a much better and safer option for them. We need to reverse this asap by driving adoption rates higher with time through regular developments.

Bitcoin can be classified as both asset or property and as currency because it can function both. Now, why would many governments classify it as an asset? Primarily because they can easily tax it when taken as a property even if the money function is very visible with it. They look at the bitcoin like the physical gold therefore any gains (when bitcoin rises in price) one person may have that can be subjected to tax. We are hoping though that this classification will slowly be changing as years go on.

Well government might have classified bitcoin as a property now because it is taxable however my belief is that in the nearest future this is same government will change its  perspective about bitcoin and recognized it as a currency going by its increasing global adoption by big companies, agencies etc and its critical role in revolution of digital currencies.

[iqlimasyadiqa]

Bitcoin has been confirmed as the best safe haven currency in the world with the following reasons.

1) If they is a military war, someone can easily move out of their respective country with Bitcoin. Cash, gold, silver is much harder to deal on.

2) The only one Currency not controlled by a government or bank.

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

My advice is keep buying Bitcoin and don't look back. Also don't forget LTC.

You can`t just advice people to buy bitcoin because it is unstable, who may know if it will still have value when war comes?

Government think bitcoin is property because it is always used as an asset to earn profit and not as a medium of exchange.

There are negative and positive sides about digital currency problems. for all of us, trying to make the best use of it, bitcoin provides a good opportunity as an investment, so we have to look at this opportunity. we don't need to be too busy thinking about regulations because the most important thing is that we can use and make the best use of the bitcoins we have. there have been many people who have become successful, so let success together with investing in bitcoin.

[drumamat]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

Many governments do not classify bitcoin at all.You're slightly mistaken.But nevertheless I agree that we should buy bitcoin.Judging by the General background in the world,the financial sector can really suffer,which can not be said about bitcoin.Bitcoin is not a wrapper,it is your salvation tomorrow.

[1Referee]

They look at the bitcoin like the physical gold therefore any gains (when bitcoin rises in price) one person may have that can be subjected to tax. We are hoping though that this classification will slowly be changing as years go on.

In my case Gold actually offers some tax advantages, so I wouldn't mind Bitcoin to be put in the same category. However, I don't think that governments have to classify Bitcoin at all in order to tax your Bitcoin gains. In reality it doesn't even matter what it is that you have, if you buy it low and sell higher you are subject to taxation whether you like it or not.

I have seen a lot people say that as long as Bitcoin isn't legal or accepted by the government (whatever that means), they don't have to pay tax, which is bs. I'm certain that most people here haven't ever had to deal with taxation. Governments aren't stupid, they know how to subject literally anything you can think of to taxation.

[blackhawkeye1912]

3) I will have to ask a general question? Why many governments are classing Bitcoin as a property & not a Currency.

They view BTC as an asset primarily and don't consider it as a currency just like majority of the investors in the cryptocurrency market which is a much better and safer option for them. We need to reverse this asap by driving adoption rates higher with time through regular developments.

Right! Adoption is the main goal of bitcoin. In the first place it was designed to use as an another option for payments. But, due to the volatile nature of bitcoin, most people treat it as digital assets, treating it as gold.

[kawetsriyanto]

It might be true if Bitcoin is the most cryptocurrency digital asset and is very safe to invest or trade. However, there are several altcoins that I think are safe and promising. I am personally a fan of Bitcoin and strongly believe in this coin, however, I also enjoy several other altcoins, especially ETH and also Ripple. I think the two altcoins also need to be considered.

[batang_bitcoin]

It's because being considered now as a store of value and people are rushing to get it just like the gold rush way back years ago. I have always considered bitcoin as a safe haven rather than with any other altcoins. Though, I have some altcoin investments on held but still I consider bitcoin to be one of my biggest investment ever. Volatility is there and people who don't understand it will doubt on why bitcoin is the safest haven if they are going to start investing to crypto.