Is Bitcoin a Safe Haven for Your Money?

[White Christmas]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

Actually we can say that bitcoin is really a safe haven for those people who wants to invest money on a long term process in which it is very good for those person who are already open minded to earn profit in a long term investments so they can called it an safe haven for their money otherwise it is not good for those people who wants to have a short time money investment because this bitcoin is for those people who really wants to earn on a long term process and for their future also.

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[joeperry]

Bitcoin may be a safe haven, it is a good place for money, but it is risky and have drawbacks. Bitcoin has been a good benefit to every enthusiasts throughout the years it is existed, however, its volatility makes it a risky move to store and invest money with. Also, due to the fact that it a product of modern technology, where misconduct of using illegally acquired information has been bombarding all over social media, it is prone to hijacking of personal information. Nonetheless, Bitcoin is a safe haven but not yet the best.

[Gheka]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

Actually we can say that bitcoin is really a safe haven for those people who wants to invest money on a long term process in which it is very good for those person who are already open minded to earn profit in a long term investments so they can called it an safe haven for their money otherwise it is not good for those people who wants to have a short time money investment because this bitcoin is for those people who really wants to earn on a long term process and for their future also.

Short-term thinking or long-term thinking, bitcoin is still a safe haven because the main trend of bitcoin is still a positive state and going up very often, so if we invest in the short term or the long run, we still have plenty of opportunities to exit the market without too much risk but this is only temporary safety when the statistics provide such a view. The nature of bitcoin is still tilted toward investment, instead of a place to store money, many potential risks can still occur over time, we should limit the storage here to ensure safety

[Artemis3]

From a security point of view for Bitcoin funds, the cold wallet is always recommended, the Exchanges are also safe in some ways, there will always be vulnerabilities, for the issue in general, cryptocurrencies or bitcoin in this case it turns out to be Very safe at the moment in countries with high inflation and with everything that has triggered in China by the epidemic makes people rely more on Bitcoin as a safe haven.

Its definitely a safe haven when the alternative is the bolivar or the petro. One is the fiat with the world's worst inflation and the other is a "crypto" so centralized it makes ripple look tame, also managed by the very same people that induced the hyperinflation and are giving it the treatment. Sure some people are (somehow) simply getting US dollars or Euros, and the gov now wants to tax them 25%, so its back to "parallel" market fees again... Yes they also want to tax that to bitcoin and anything else non petro. Its their "way" of stimulating petro use, by intimidation or force (yet another reason to dislike gov made altcoins). Some people seem to forget it was their own gov that made and control their fiat in the first place...

Bitcoin and others are instant. Getting foreign currency? Not so much. Storing them in a cold wallet (a paper with seed words) is far safer than using a bank that can be seized by the gov at any time, because they can and they have the guns and you don't.

Of course this also means you have to be careful using or exchanging Bitcoin, as those are the weak points which is not truly bitcoin's fault but the fact that not everyone is a directly accepting it yet. If people here used bitcoins the way they are now using foreign currencies, a new world would open. But people are hard to change.

[ene1980]

No investment is safe specially if you don't know what kind of investment/market you're into. It's never wise if you avoid investing in Bitcoin as well.  

The choice of investing is individual decisions and we have time and again heard cries from people about missing out on investing on bitcoin when the price was really low and even after the last rally the market gave plenty of opportunity for anyone who wants to invest in the market and even then if someone is not able to make a wise decision to invest in bitcoin, then it is better for them to stay out rather than going at it when the market peaks and then cry out that they lost their money when the market goes down.
@ OP You cannot consider any financial market as a safe heaven as you never know what will happen and so is the case with bitcoin.

[wxxyrqa]

No investment is safe specially if you don't know what kind of investment/market you're into. It's never wise if you avoid investing in Bitcoin as well. 

The choice of investing is individual decisions and we have time and again heard cries from people about missing out on investing on bitcoin when the price was really low and even after the last rally the market gave plenty of opportunity for anyone who wants to invest in the market and even then if someone is not able to make a wise decision to invest in bitcoin, then it is better for them to stay out rather than going at it when the market peaks and then cry out that they lost their money when the market goes down.
@ OP You cannot consider any financial market as a safe heaven as you never know what will happen and so is the case with bitcoin.

I believe that a safe depository for my money can only be that valuable product that is valued not only at the moment, but will always be valued due to its relevance and its valuable properties.  Perhaps my words will provoke indignation among users of cryptocurrencies, but First of all, we are talking about gold, as a noble metal that has been valued throughout the life of mankind, and during the development of civilization it is valued even more due to its physical properties, which are used in various areas of human activity,  including in high technology and in the space industry.  Nevertheless, Bitcoin for me today is a very valuable investment, because I am confident in the prospects of cryptocurrency in the future, and especially in bitcoin.  Nevertheless, I slightly separate these two concepts, because profitable investments and the safe storage of my funds have really different concepts for me.

[tvplus006]

i read the post , but something i can't understand. Have any relationship between to pumping Bitcoin price and US/Iran open war??

otherwise i think Bitcoin is not safe. Market can be crashed any moment. So, it's better if you avoid this. Thank you.

Just like any unstable situation in the world affects the price of the dollar, it will also affect the price of bitcoin. A person is looking for an opportunity to save their money in such a period of time and, accordingly, at this time, the demand for bitcoin increases, which leads to an increase in its value.

[Kasabus]

i read the post , but something i can't understand. Have any relationship between to pumping Bitcoin price and US/Iran open war??

otherwise i think Bitcoin is not safe. Market can be crashed any moment. So, it's better if you avoid this. Thank you.

Just like any unstable situation in the world affects the price of the dollar, it will also affect the price of bitcoin. A person is looking for an opportunity to save their money in such a period of time and, accordingly, at this time, the demand for bitcoin increases, which leads to an increase in its value.

Even if the value of bitcoin keeps increasing, i'll still believe that bitcoin won't be a safe haven for my money. There is always risks in it and you don't have any guarantee that if you put your money in it, you will reap  good returns all the time. It's either you will gain huge amount, or even lose all your money in just a click of an eye. But if you choose long term holding, there are chances that you will make good profits but it takes more patience and understanding of the market for you not to feel depressed since the market can be crashed anytime.

[BlackRexuz]

When I got to know bitcoin I still doubted the security of my money, but over time, and I learned a lot and looked for ways to strengthen the security of my money from thieves or frauds, in protecting my important assets, if I think they are really needed in the world technology at the moment, even though there are a lot of fraudulent investment offers out there that are so tempting, it doesn't mean that our money will be safe, but what we have to think about is adding security better than before.

In my opinion, stay away from investment offers that smell like fraud !!

[slaman29]

Short-term thinking or long-term thinking, bitcoin is still a safe haven because the main trend of bitcoin is still a positive state and going up very often, so if we invest in the short term or the long run, we still have plenty of opportunities to exit the market without too much risk but this is only temporary safety when the statistics provide such a view. The nature of bitcoin is still tilted toward investment, instead of a place to store money, many potential risks can still occur over time, we should limit the storage here to ensure safety

Absolutely for the long term, I would never say short term because if you got caught out in 2018 or even some periods in 2019, you'd be looking at 3000 prices when most people bought then above 10k.

I would still store most of my savings in normal money though. I know my government is shit but they insure my money and yes maybe they can end up like bankrupt but it is a smaller risk than crypto losing it all (to me).

[Mttewndew]

Absolutely for the long term, I would never say short term because if you got caught out in 2018 or even some periods in 2019, you'd be looking at 3000 prices when most people bought then above 10k.

I would still store most of my savings in normal money though. I know my government is shit but they insure my money and yes maybe they can end up like bankrupt but it is a smaller risk than crypto losing it all (to me).

I agree with you. Like it or not, ordinary money behaves much more predictably than BTC.

[tvplus006]

Absolutely for the long term, I would never say short term because if you got caught out in 2018 or even some periods in 2019, you'd be looking at 3000 prices when most people bought then above 10k.

I would still store most of my savings in normal money though. I know my government is shit but they insure my money and yes maybe they can end up like bankrupt but it is a smaller risk than crypto losing it all (to me).

I agree with you. Like it or not, ordinary money behaves much more predictably than BTC.

Here, everyone must make their own decision for themselves. You either go to the Bank and make a Deposit at 3% per annum, or invest in bitcoin yourself, in the hope of earning a larger percentage of profit. But we must remember that bitcoin may not bring you a large income quickly.

[alexsandria]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

Oh it us a nice article in which bitcoin is really a safe haven for our money? I guess it is just a matter on the use of bitcoin in which it may become a safe haven for those people who are investing and like to wait in order to earn a good profit but I think it is not good for those people who are not in patience when it comes in waiting the right time to earn money. Bitcoin and cryptocurrency can be a safe haven if you know how to manipulate and used it but if it is not the. It is not a safe haven for you.

[Mpamaegbu]

I think it's not a safe idea to store one's money in Bitcoin. Apart from the uncertainty and fluctuations in the crypto industry there is also the rampant cases of wallet hacks. Imagine pilling up your money in a Bitcoin wallet and someone else hacking into it from anywhere in the world that you can't trace. It's heart wrecking.

[TheGreatPython]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

That depends are you talking about long term or short term? You know that bitcoin is volatile and you can lose your money at any time. But I might consider long term because that has always favoured me. And if you check the Bitcoin price graph you will see that the lowest for every year kept increasing. So that means if you’re able to get the low and invest at that price you will be able to make profit as time goes on.

But, I wont really say that Bitcoin is a safe haven because of its volatile nature, there are other types of investments that are more stable, but that doesn’t make Bitcoin any less good, you just have to be careful and know your level of risk.

[shark1006]

As per my experience bitcoin investment is very safe haven for our future, because we already know that if someone invested $100 in the Bitcoins at earliest now it will cost more than a millions. but we have to understand the crypto market very well before make a decision in crypto investments.

I totally agree with you. Without proper bits of knowledge, investing in crypto can be fatal. If you learn to understand the market, you can safely store money and make a profit

[adzino]

I think it's not a safe idea to store one's money in Bitcoin. Apart from the uncertainty and fluctuations in the crypto industry there is also the rampant cases of wallet hacks. Imagine pilling up your money in a Bitcoin wallet and someone else hacking into it from anywhere in the world that you can't trace. It's heart wrecking.

You can't store your "money" in Bitcoin. You can buy bitcoin with money. I know what you are trying to say, but it sounded totally wrong. There are cases of wallet hacks, but if you read into those cases, most of them occurs due to users own fault. They either use some random wallet, or doesn't keep their wallet on a safe environment. Your wallet can be hacked if you do not take proper steps to secure your wallet.
I could say the same thing - "Imagine pilling up your money on a brief case and then someone else hijacks your money and leaves. How would you feel?". If you are not safe, even your fiat money can be stolen easily.

[Oasisman]

I think it's not a safe idea to store one's money in Bitcoin. Apart from the uncertainty and fluctuations in the crypto industry there is also the rampant cases of wallet hacks. Imagine pilling up your money in a Bitcoin wallet and someone else hacking into it from anywhere in the world that you can't trace. It's heart wrecking.

That's why cold wallet or offline wallet was created, to further secure your crypto asset from being hacked online.
Those who have been hacked was just being too careless of the fact that everything is susceptible to hacking through the internet. Custodial wallets nowadays have added extra layer of security in 2fa and OTP, I don't see any problem about hacking if you're just be careful with phishing websites and unknown downloads.

[Slow death]

I'll talk about my case, for me bitcoin for now is a medium term and short term investment. What I do is buy when the price is low and sell when I think the price is high. and I also do day trade. I do not hold for the long term because I can lose money. there was a time I bought it when the price was $9200 and then the price dropped to $7500. I know now the price has returned to more than $9200. but if I hold for a long time I would have had to keep losses for months, my option was to sell at a loss at that time and I went back to buying and selling again and recovering my money.

[FlightyPouch]

I also think bitcoin is the best place to store bitcoins other than banks. Bitcoin has a hardware wallet of some kind ledger that can store virtual money physically so it is very safe because only those ledger holders can access their virtual money.

I think you misunderstood the OP. Safe Haven investment is something that is expected to go up despite what is happening. Bitcoin as a safe haven is said to give continuous profit in the future. In the video, Campbell Harvey said that there is still not enough proof to say that Bitcoin is a safe haven investment, he even said that Gold itself is not reliable. Though it has the possibility of becoming one, and I also think it has a chance of going there despite the volatility of it.