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Author Topic: Preparing for a recession... Gold or Bitcoin?  (Read 1262 times)
cryptomarketyourself
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November 19, 2019, 01:51:46 PM
 #1

I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:


https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/


Thoughts?


I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
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November 19, 2019, 01:55:15 PM
 #2

Let's not be fan boys here.
If you are a serious person and you deal seriously with your money, ofc you need to hold both of them. Gold and bitcoin. You don't have to choose only one.

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November 19, 2019, 01:55:53 PM
 #3

I disagree - the next one might just kill the USD. And gold will be the only thing to save you.
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November 19, 2019, 02:00:07 PM
 #4

I also think that the best option is both. If you have enough funds other things like properties could be also a good addition. The idea is to diversify as much as possible with low risk.

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November 19, 2019, 02:03:41 PM
 #5

It all comes down to what extent is the recession going to affect the economy. If the USD dies and internet goes away.... How's bitcoin going to help you?
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November 19, 2019, 02:05:41 PM
 #6

I think in a recession Bitcoin will be a genuinely hopeless 'safe harbour'.

Most people will run for the exits faster than their little feet can carry them. Of course the true believers won't but they're rather heavily outnumbered.

But I doubt we've seen an end to the financial tricks played to keep the plates spinning. If Bitcoin keeps going for a few more years of relative peace its perception may change and be in a stronger position when it happens.

As for USD dying, we've only been hearing that for the last 4-5 decades yet there it still is.

cryptomarketyourself
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November 19, 2019, 02:08:46 PM
 #7

I think in a recession Bitcoin will be a genuinely hopeless 'safe harbour'.

Most people will run for the exits faster than their little feet can carry them. Of course the true believers won't but they're rather heavily outnumbered.

But I doubt we've seen an end to the financial tricks played to keep the plates spinning. If Bitcoin keeps going for a few more years of relative peace its perception may change and be in a stronger position when it happens.

As for USD dying, we've only been hearing that for the last 4-5 decades yet there it still is.


You don't think the massive debt burden will make the USD bubble pop eventually?
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November 19, 2019, 02:11:59 PM
 #8

Dude - ignore recessions. These are cycles. If the USD were to die neither bitcoin nor gold will help you. Gt water and antibiotics instead.
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November 19, 2019, 02:19:59 PM
 #9

BITCOIN. Always bitcoin. Ignore the illuminati who think that gold is useful because dentist use it.
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November 19, 2019, 02:24:26 PM
 #10

You don't think the massive debt burden will make the USD bubble pop eventually?

I have no idea what'll happen. I do know that those running the show will do anything to keep it trucking - https://en.wikipedia.org/wiki/Trillion-dollar_coin

People have been preaching toast since the 1970s. Still hasn't happened yet.

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November 19, 2019, 02:43:58 PM
 #11

Even how much we discuss usd dying, I still think it's far from happening right now so I don't worry about that much. But preparing for a recession, it would be good to choose both gold and bitcoin. Well, gold is much stable than bitcoin, it's safer to hold since it doesn't lose its value. While with bitcoin, it's volatility can be an advantage. During a recession, fiat ain't doing good and most will probably look for an alternative which will give way to cryptocuurency. Its demand will increase, and as well increase its value.

 
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slackovic
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November 19, 2019, 02:44:50 PM
 #12

I think the best answer is like with all investments - don't put all your eggs in one basket. That being said, I would probably choose to invest 40% of my portfolio into Bitcoin and 60% into gold. I don't know if that's the right call, but I'm not that optimistic about the stability of Bitcoin price if we face another recession like the one 11 years ago.

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DannyHamilton
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November 19, 2019, 02:45:04 PM
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 #13

I don't want to open up another gold vs bitcoin thread.

Then don't.

Lock this thread.

Go post your link and thoughts in one of the thousands of other Gold vs Bitcoin threads that already exist.

If you don't want to open up another gold vs bitcoin, then why did you?

cryptomarketyourself
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November 19, 2019, 03:13:28 PM
 #14

I don't want to open up another gold vs bitcoin thread.

Then don't.

Lock this thread.

Go post your link and thoughts in one of the thousands of other Gold vs Bitcoin threads that already exist.

If you don't want to open up another gold vs bitcoin, then why did you?


Because this is NOT just another gold vs bitcoin, boss. I'm approaching the subject from a new perspective.

Smile son - the world is beautiful.
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November 19, 2019, 04:00:39 PM
 #15

Because this is NOT just another gold vs bitcoin, boss. I'm approaching the subject from a new perspective.

Do you approach the subject from the perspective of advertising your link? You'll certainly say that it is not so, but there is an option for anyone to check any user post history, this is yours: https://bitcointalk.org/index.php?action=profile;u=2613532;sa=showPosts  // http://archive.ph/lf6EQ

With your way of posting, you directly break the forum rules, which you have obviously not read. Take some time, learn how to use forum and then we can talk about gold vs. Bitcoin.

https://bitcointalk.org/index.php?topic=703657.0


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November 19, 2019, 05:03:21 PM
 #16

I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:

Thoughts?

I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.

If in doubt diversify. I would also go for bitcoin, but diversifying your portfolio is always the wisest thing, just in case...

I don't know how big the "next recession" will be, but i know that at some point humanity will learn about fractional reserve banking, which will prompt its quickly demise, and the end of the hegemony of the Chicago school of economy, which in turn will traumatize all world economies based on it. Yes, those that fear deflation, such as the one brought by bitcoin.

Once the Austrian school of economy ideas start being put in use, bubbles will disappear entirely and there won't be no more traumatic events beyond moderate and healthy market based fluctuation. When you have a rock solid savings based economy, there is little fluctuation anyway. Instead of a rock, the current debts based economy is pretty much a balloon...

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November 19, 2019, 05:27:35 PM
 #17

Let's not be fan boys here.
If you are a serious person and you deal seriously with your money, ofc you need to hold both of them. Gold and bitcoin. You don't have to choose only one.
How can noobies not be a fan boy.... this forum is called bitcointalk for a reason. Tongue

I personally would take both too, but not at this stage---only when Bitcoin hits $20k and higher I will slowly convert some of my coins to gold in order to have a more diversified portfolio, which is quite important.

Currently I'm balls deep into Bitcoin but I'm not planning to have it be like this for ever. I should have taken out some back in 2017 during the bull run peak, but it's always easy talking now we know what happened to the price.
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November 19, 2019, 08:50:45 PM
 #18

I'm approaching the subject from a new perspective.
You aren't approaching the same tired old topic from an interesting perspective, tho.  This still all boils down to yet another gold vs. bitcoin thread no matter what other issue you tack onto it.

If a recession comes, I don't want either bitcoin or gold.  I want a steady job and some cash reserve in case I lose that job.  If you're buying gold in anticipation of a recession, you probably have a good deal of money since that isn't something a working slob like myself can do.  And as far as bitcoin goes, it isn't the best thing to be accumulating if you think a recession is coming.  Think of the volatility and how it isn't a safe haven asset and you have your answer.
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November 19, 2019, 09:38:54 PM
 #19

I don't want to open up another gold vs bitcoin thread. I'm just curious because I read an article that discussed whether we should be preparing ourselves for an upcoming recession by buying bitcoin or gold:


https://cryptotradernews.com/cryptocurrency/preparing-for-a-recession-bitcoin-or-gold/


Thoughts?


I think the next recession won't be as big as the 2008 one (which, to me was a depression). Hence I'll stick with Bitcoin for now.
I don’t have the idea about the effect of recession and how to live during the recession (I’m still young during 2008 recession), but I’m buying bitcoin right now because I believe on its future and not because of recession, I also have physical gold from my Dad and its really good to me. If many people think bitcoin and gold is the best during recession, you must hold more now and keep buying.

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November 19, 2019, 10:10:46 PM
 #20

Why is the option just a singular option? Why can't you hold both, and what about other options like real estate?

If I was very paranoid for an upcoming global recession, I'd likely look at a 40/30/30 split between all 3 of the investment options, with it being, gold/real estate/crypto-currencies, but I'm not particularly scared for one.

Although, if I wanted to be safer, I think gold is the better option, although crypto has a lot of potential.

 
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