Preparing for a recession... Gold or Bitcoin?

[makolz26]

Can I choose both? I guess if I want a stable one who can guarantee security I will choose Gold but if I want a tremendous change of price up to 1500% then I will choose Bitcoin (but it can also fall on to its lowest price). I should put my money on something that will guarantee security and to something that will somehow make me rich.

As much as possible I would really choose both of them, because for sure their price in that time will be more cheap too, but it really depends on the value of our money too, we don't know if our money will become worthless too just like what happened to Venezuela, so it's hard to know at the moment, but if possible, will invest in both.

[South Park]

i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.
so in this case?and with the response of community?still bitcoin is the choice of many.

Another thing is that in most countries you cannot just go and buy a gold bar to store it safely. Just golden jewelry, coins or papers proving the ownership of some gold stored somewhere. With BTC, you can store it with yourself. You can make a cold wallet and hide it from anyone, including authorities.
As well, in case of crisis, robber can steal your physical gold. Yet (unless they are well informed by someone) they will not steal your cold wallet (or will not get access to your hardware wallet), because they will not be aware of what is it.

That is definitely a huge problem for gold, when it comes to bitcoin you do not even need to have a paper wallet which a smart thief could steal from you, if you can memorize your seed words then you always have your bitcoin with you but there is no evidence at all in any piece of paper or electronic device that you are in fact holding bitcoin, and that is something that gold will never be able to do and it is a great advantage in the case of an economic crisis.

[MajorMiner]

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.

You can not go wrong investing in ammo 

[salty]

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.

The fact is that it is absolutely unknown how this recession will pass.If it is too hard, it is possible that cryptocurrencies will have a chance, although I do not really believe in it.In fact, cryptocurrencies are a panacea for the world economy,but it is difficult to say which way the pendulum will swing.

[Duzter]

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.

The fact is that it is absolutely unknown how this recession will pass.If it is too hard, it is possible that cryptocurrencies will have a chance, although I do not really believe in it.In fact, cryptocurrencies are a panacea for the world economy,but it is difficult to say which way the pendulum will swing.

The majority chance is much associated with gold than bitcoin. Maybe in few years of time this scenario might change, because right now the contribution of bitcoin to the economy is very small. During the past time of recession the economy gets recovered out of the strategy and planning made by the governments.

[Yatsan]

i have been buying Gold since college(same as silver) and i found a lower chance of profit from this investing compared to what i have got in crypto back then in 2017 so for me?recession will never hinder me from buying Bitcoin again and again and Gold will be remain as my accessories than investments.
so in this case?and with the response of community?still bitcoin is the choice of many.

Another thing is that in most countries you cannot just go and buy a gold bar to store it safely. Just golden jewelry, coins or papers proving the ownership of some gold stored somewhere. With BTC, you can store it with yourself. You can make a cold wallet and hide it from anyone, including authorities.
As well, in case of crisis, robber can steal your physical gold. Yet (unless they are well informed by someone) they will not steal your cold wallet (or will not get access to your hardware wallet), because they will not be aware of what is it.

That is definitely a huge problem for gold, when it comes to bitcoin you do not even need to have a paper wallet which a smart thief could steal from you, if you can memorize your seed words then you always have your bitcoin with you but there is no evidence at all in any piece of paper or electronic device that you are in fact holding bitcoin, and that is something that gold will never be able to do and it is a great advantage in the case of an economic crisis.

Bitcoin as new economic class is a great escape from economic crisis however Gold out-scale bitcoin on this aspect. Why? because gold's value is not dependent on demand and supply but on its metal properties found in it which is not common in any other metal, moreover gold is beneficial than fiat currency which can be easily devalue when crisis comes because it has no intrinsic value but only mandated value and belief on what it is going to have equivalent with. Bitcoin on the other hand contains too much volatility and even if people chooses it there is no guarantee that it will save them from crisis.

[znation]

Personally, I would buy both, it's a rule never to put many eggs in one basket. Know the division so that we can capture from Bitcoin and gold, many people will think that there will be a recession in the near future, I think it is very likely, please be psychologically prepared when it comes. .

[Capt00]

Personally, I would buy both, it's a rule never to put many eggs in one basket. Know the division so that we can capture from Bitcoin and gold, many people will think that there will be a recession in the near future, I think it is very likely, please be psychologically prepared when it comes. .

That it makes sense mate. That is we should have to think of, and getting prepared is somewhat forgotten by newcomers. We could expect market recession anytime but if we already been prepared for this,  nothing to have a problem.
And I agree with you, both of them are the potential market gainer, why not having them if we have enough money to risk.

[Wintersoldier]

Can I choose both? I guess if I want a stable one who can guarantee security I will choose Gold but if I want a tremendous change of price up to 1500% then I will choose Bitcoin (but it can also fall on to its lowest price). I should put my money on something that will guarantee security and to something that will somehow make me rich.

I think in a world with a recession is happening I don't think that we should focus still on investment, because the issue now is having the best currency that could basically replace the fiats so people could have something to trade and could still accumulate their needs to live. In this case, both gold and bitcoin is needed but not the profits that we could get from investment and there we could experience pure trading of these investment platforms.

[alyssa85]

Germans are currently queuing to buy gold according to the following tweet:

https://twitter.com/PopescuCo/status/1209559269382787072

Germans are queuing at Degussa store to buy #gold in Köln. From Jan. 1, 2020, the limit to buy gold anonymously drops from €10,000 down to €2,000. Only two years ago the limit was €15,000.

I'd say this is the reason we've been seeing the price of gold tick up in the last month (approaching $1500). It's because people are trying to front run the restrictions.

[johnwest]

I think the recession is already started, people are buying gold like anything. The recession this time will definitely hit harder and USD will be at the edge of the cliff. Who knows what will happen, BTC may become a solution for many of the things and may become a savior.

[pawanjain]

If we are talking about recession here then a wise person would be the one who holds both of them.
Bitcoin serves the need as a currency and establishes a peer to peer payment method which is very much needed if you don't trust banks.
Gold on the other hand is a physical asset and can save you from a recession.
So holding both of them would be a better choice.

[South Park]

That is definitely a huge problem for gold, when it comes to bitcoin you do not even need to have a paper wallet which a smart thief could steal from you, if you can memorize your seed words then you always have your bitcoin with you but there is no evidence at all in any piece of paper or electronic device that you are in fact holding bitcoin, and that is something that gold will never be able to do and it is a great advantage in the case of an economic crisis.

Bitcoin as new economic class is a great escape from economic crisis however Gold out-scale bitcoin on this aspect. Why? because gold's value is not dependent on demand and supply but on its metal properties found in it which is not common in any other metal, moreover gold is beneficial than fiat currency which can be easily devalue when crisis comes because it has no intrinsic value but only mandated value and belief on what it is going to have equivalent with. Bitcoin on the other hand contains too much volatility and even if people chooses it there is no guarantee that it will save them from crisis.

The value of everything is based on the law of supply and demand, on the supply side gold is valuable because it is very scarce and you cannot counterfeit it since it is an element found in nature, on the demand side the properties of gold made it until recently the best possible form of money and it was used for thousands of years for this purpose, all of this changed with bitcoin since in my opinion it is many times better than gold, however if your main purpose in the next recession is to protect your capital then I agree that gold is the best choice but I prefer to take my chances with bitcoin and its volatility.

[MarioV]

Good question. Taking for granted that the recession is certain, as I think, the right method would always be to diversify investments: both one and the other.
The problem is always the same, at the start: having money to invest, given that we are becoming increasingly poor.

[South Park]

Good question. Taking for granted that the recession is certain, as I think, the right method would always be to diversify investments: both one and the other.
The problem is always the same, at the start: having money to invest, given that we are becoming increasingly poor.

We do not know when it will happen but a recession will happen at some point in time, and this is what bothers me from the majority of the people, they are historically aware that there are times in which the economy does not perform well since they have lived through those years but when you ask them what are they doing to protect themselves when the next one happens? They look at you as if you are the one that does not know what you are talking about, they always believe that this time is different and that the economists have finally figured out how to avoid a recession only to be proven wrong and suffer the consequences of yet another recession.

[universe_]

I accept that there is a recession going on. Events are about to collapse, primarily due to the housing industry. Many are unable to pay their rent and end up being taken away from their homes. Most people in the United States are one step away from homelessness and this, one way or another, will have its toll on the economy of the country. Once this happens, the crisis will spread to other countries like flames, and you can't do anything about it. Historically, this is accounted for as economic cycles, which can go from seven to fifty years, a capitalist set up to maintain power with the wealthy.

[purebitco]

I wouldn't be involved in either if I went through a recession, and so would be a lot of other investors. I believe there is an economic slowdown in a recession, which means companies are looking for cash, and workers are being laid off. For companies and people seeking to sell off assets to pay bills, that's a boatload. You are not allowed to eat gold or tokens. Basically, this means the gold price is falling and so is Bitcoin. I would be interested in passive income to plan for a recession, which I think would weather well in those times; something that gives me what I need to keep my family afloat.

[Linkkoin]

I wouldn't be involved in either if I went through a recession, and so would be a lot of other investors. I believe there is an economic slowdown in a recession, which means companies are looking for cash, and workers are being laid off. For companies and people seeking to sell off assets to pay bills, that's a boatload. You are not allowed to eat gold or tokens. Basically, this means the gold price is falling and so is Bitcoin. I would be interested in passive income to plan for a recession, which I think would weather well in those times; something that gives me what I need to keep my family afloat.

This is a difference between a small individual investor and regular investor. Individuals in crisis spend their savings/sell investments to survive, regular investors (if selecting the right asset) buy at "discount price". And many of the investors seeing/expecting huge losses switch some of their portfolios content from stocks to "safe haven" assets like precious metals or (this still needs to be proven, as BTC came into existence after the last financial crisis) Bitcoin.

[Linkkoin]

I agree to this. Gold has the ability to maintain its value or even exceeded its current valu.

But in most countries, unless we are speaking about golden coins, you do not buy gold. You simply buy a paper declaring that you are an owner of some gold stored somewhere (and that you own eg. 10 oz. of gold in 12 kg bar stored 2000 miles away from you).
So then in practice, it is less physical in form than your BTC stored on hardware/cold wallet at home.

[South Park]

I wouldn't be involved in either if I went through a recession, and so would be a lot of other investors. I believe there is an economic slowdown in a recession, which means companies are looking for cash, and workers are being laid off. For companies and people seeking to sell off assets to pay bills, that's a boatload. You are not allowed to eat gold or tokens. Basically, this means the gold price is falling and so is Bitcoin. I would be interested in passive income to plan for a recession, which I think would weather well in those times; something that gives me what I need to keep my family afloat.

If you are trying to buy gold or any safe haven asset when the recession is taking place then it is already too late, the purpose of getting gold under that scenario is to sell it for an higher price than what you bought it and then use that extra money to buy assets that are in a fire sale, this way you can get very good assets at low prices that under normal circumstances will be unthinkable to get at that price, then you just wait for the recession to end and enjoy your easy profits.