Wind_FURY
Legendary
Offline
Activity: 3010
Merit: 1878
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2020, 09:32:09 AM |
|
For now people prefer to keep their savings into cash and furthermore I have a lot of friends who panicked due to Corona and sold a nice amount if cryptos as they fear the lockdown will be much longer than we know for now. In my country we just entry the second level of military security as people are still going out side like nothing is happening. So ask yourself, is bitcoin a safe-heaving in this hard times ? I say no, its just another currency that cannot provide ( FOR NOW ) all the things like buying food and stuff in order to survive.
VERY GOOD RATIONAL thought on this subject !!! The ECONOMIC CRISIS will be much worse, and last much longer than the Corona Virus. This will NOT end when people can go outside and do as normal, the economic damage will last MANY, MANY years. Which is why I expect even more people will need their money and sell BitCoin and other cryptos. My analysis: Given the way BitCoin reacted to its first economic crisis, I think it is going down to near zero. Then if the pandemic will be "much longer than we know", wouldn't there be bank runs, bankruptcies, and the collapse of the legacy financial system? If there was only a self-sovereign, international currency we can use. https://bitcoin.org/en/
|
| .SHUFFLE.COM.. | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | . ...Next Generation Crypto Casino... |
|
|
|
joeperry
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 2212
Merit: 470
Telegram: @jperryC
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2020, 01:26:23 PM |
|
Bitcoin, just like any existing currency in economy around the world, is very much dependent on its macro environment such as this pandemic disease called COVID-19. And to say that Bitcoin is a safe-haven asset cannot be justified primarily because of its volatile nature and how its value being affected drastically due to different crisis. Bitcoin is considered as an investment by the majority that they hold for a time then make a decision whether to still hold the coin or to sell out base from its current state and value but not really something that they can store a value on. Today that people are especially depending to what Bitcoin can offer, it is not considered a safe haven asset but a channel of possible income generator and a medium for withdrawal after some time.
|
|
|
|
HardFacts
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 434
Merit: 29
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2020, 02:17:39 PM |
|
Then if the pandemic will be "much longer than we know", wouldn't there be bank runs, bankruptcies, and the collapse of the legacy financial system? If there was only a self-sovereign, international currency we can use. https://bitcoin.org/en/You did not read what I said: The ECONOMIC CRISIS and depression will be far worse than the Corona Virus, and last for MANY, MANY years.... You are correct about one thing, there should be bank closures, bankruptcies of most companies, etc. But the government has just BAILED them all out, without that there would have been total collapse of many things. It will still happen, but it will be delayed due to money printing until money printing does not work anymore. Hard Facts
|
|
|
|
HardFacts
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 434
Merit: 29
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2020, 02:19:16 PM |
|
I am absolutely sure of it. Gold and bitcoin are two assets that I am sure of.
NOTHING is assured with BitCoin, it is like being in the casino and hoping you win. I have no idea if BitCoin will go up or down. BUT, BitCoins reaction to its first financial crisis is very worrying to me. Hard Facts
|
|
|
|
fullhdpixel
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2020, 02:31:39 PM |
|
I think any asset that you wish to invest in as a safe haven can work. There is really no guarantee that the asset or stock you invested in would remain at the same level in this situation.
Some might have stored their value using precious stones and metals,but there's no guarantee that they were not going to lose; as of the time that this pandemic started most of these precious stones decreased in price, though gold seemed to be resistant at first, but after a while the price got affected to a certain level and after a while it started going up again, just like Bitcoin did fall from around 10,000 USD and down to 3,800 USD but later recovered to 6,000 USD plus.
So, you can use whatever you want as a store of value but don't rely on one, it's always best to diversify. Do not diversify with crypto assets only, try others too.
|
|
|
|
NavI_027
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2020, 03:02:01 PM |
|
NOTHING is assured with BitCoin, it is like being in the casino and hoping you win.
No, there is actually. I can say that you can rely on bitcoin when it comes to profit-making. You should only be careful and never let your environment (like this current pandemic) overwhelmed you which later on leads you on making wrong decision on buying/selling. BUT, BitCoins reaction to its first financial crisis is very worrying to me.
What do you mean by "first financial crisis"? Mate this is not the first time when btc experience a bloody dip (not as bloody as I witnessed last 2017). So relax because the price is stabilized at this moment ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) .
|
|
|
|
HardFacts
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 434
Merit: 29
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2020, 02:04:51 AM |
|
What do you mean by "first financial crisis"? Mate this is not the first time when btc experience a bloody dip (not as bloody as I witnessed last 2017). So relax because the price is stabilized at this moment ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . GRADE SCHOOL LEVEL ENGLISH was used here, and you did not understand... So let me say it as simply as possile: No one said this was BitCoin's first " bloody dip ", it has dipped in price many times... I said BitCoin grew up in an ECONOMIC BUBBLE, where everything was going up. BitCoins price crash in its first FINANCIAL CRISIS should worry everyone. Hard Facts
|
|
|
|
senin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2020, 02:16:07 AM |
|
Then if the pandemic will be "much longer than we know", wouldn't there be bank runs, bankruptcies, and the collapse of the legacy financial system? If there was only a self-sovereign, international currency we can use. https://bitcoin.org/en/You did not read what I said: The ECONOMIC CRISIS and depression will be far worse than the Corona Virus, and last for MANY, MANY years.... You are correct about one thing, there should be bank closures, bankruptcies of most companies, etc. But the government has just BAILED them all out, without that there would have been total collapse of many things. It will still happen, but it will be delayed due to money printing until money printing does not work anymore. Hard Facts Even US President Trump said that by Easter (April 12), an economy must be launched, which suffers large losses due to the unprecedented measures taken to combat the spread of coronavirus. He said that if this is not done, then the consequences of an idle economy can be much worse than that of the coronavirus itself. In my country, the government says roughly the same thing. This means that if the problem with coronavirus drags on, then we can not avoid the global global economic crisis. It is in this case that Bitcoin and other cryptocurrencies should prove themselves as an anti-inflationary tool. This will be the first serious test for bitcoin.
|
|
|
|
Abiky (OP)
Legendary
Offline
Activity: 3290
Merit: 1379
www.Crypto.Games: Multiple coins, multiple games
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2020, 11:30:42 PM |
|
Safe heaven asset - NO !
I don't think that anything is a safe heaven now , this is worse than a inflation and deflation and even worse than a financial crisis , nothing out there is something that can actually stand in the middle of all this .
The government is not able to control this and people who have recovered have started testing positive again.
The economy is dying , people are there without jobs , families are suffering .
This is just like the great recession but much worse if not controlled . Trust me in the upcoming days it is only going to get worse .
Unfortunately, that's the harsh truth we're facing today. Even precious metals like Gold and Silver have fallen in price during this crisis. Bitcoin being hailed as a safe-haven asset for quite some time, has also been affected negatively in price as a result of the coronavirus pandemic. It's hard to believe that Bitcoin will do great in times of turmoil, considering how it has behaved over the past days. This is what you get when people are the ones who determine the price of Bitcoin instead of a central authority. Since most people are cashing out for Fiat, the market experiences a bloodbath in price like never before. Despite this, there's still hope that Bitcoin will be used as a save-haven asset someday. Maybe after the collapse of the world's monetary system, we'll be able to see people flocking into crypto and Blockchain tech? Since Bitcoin is a decentralized asset, it could become immune to real-world events. The reason why that's not the case today is because the pioneer cryptocurrency is largely dependent on centralized infrastructure (like centralized exchanges). But if we were to use Bitcoin directly as a unit of account in a decentralized manner through decentralized exchanges, that wouldn't be much of a problem. As we're in a time of uncertainty, no one knows what will happen with Bitcoin and other cryptocurrencies in the future. The least we could do is to "hold off" the pandemic, until we see the light at the end of the tunnel. This kind of volatility is totally normal on bitcoin, you can not expect hundreds of times of value increase without such scale of withdraw. But the concern that bitcoins grew only because of economy bubble is interesting
Bitcoin has not really experienced any major economy crisis since it was born, and this time it is actually performed quite well: Given the scale that crash on S&P and Oil, bitcoin should have crashed more than 99.9% by now if it is correlated to normal financial market, since its volatility is usually 5-10 times bigger than them. But it did not, clearly says that it is either independent of the economy crash or it is highly resistent
But for its price to rise, we need some other mechanism or consensus, so that when in panic, a lot of fiat money are going to buy bitcoin without the slightest hesitation.
(Edit) In fact I prefer a smart contract kind of design, where smart contract automatically buy bitcoin based on the scale of economy crash or the scale of QE. The only question is how to get the QE liquidity into cryptocurrency market, or you just create them out of thin air as well like USDT. I feel that the people with the access of QE money have the possibility to do this but their motivation might be a question
Bitcoin has performed quite well compared to the stock market, but it experienced a heavy downfall from over $8k per coin to just $6k per coin. That's a massive decline in price that would leave many Bitcoin investors disappointed. This way, Bitcoin can never be used as a safe-haven asset since it could leave you poor in a blink of an eye. The wild fluctuations in price, makes it harder for anyone to use Bitcoin seriously as a currency for day-to-day payments. I don't want to sound pessimistic here, but it's the reality we're facing right now. A limited supply of only 21 million coins that will ever be mined will do nothing to the price of a Bitcoin if there's not much demand for it. The halving is approaching, yet prices are still a lot low than they were 3 years ago (2017). I'm hoping that everything would turn back to normal after the pandemic ends so that Bitcoin could shine once more as an alternative currency anyone could use as a store of value. Everything will depend on what positive events occur in the mainstream world for Bitcoin to have higher prices over time. Otherwise, you could expect prices to become lower in terms of Fiat like never before. Just my opinion ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
rezakurnia66
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 03, 2020, 01:39:41 AM |
|
Last week Bitcoin collapsed due to the impact of the COVID-19 spread. In some countries such as China, many people withdraw money from Bitcoin. This is done because some of their areas are Lockdown to an unspecified boundary. So they need a food supply during Lockdown. So this also affects the decline in cryptocurrency prices.
But the market collapse is also caused by a number of investors who sell Bitcoin in large quantities.
But we must see the current condition that the middle of the virus COVID-19, Crypto-Asset transaction is a very interesting asset to trade. Especially for Bitcoin is able to pump quickly. Yes, this is the best solution to get profit when the community is doing work in the home.
Any events in the world may have an effect on Crypto-assets. However, it will be a temporary impact and the crypto assets will slowly return to the top.
|
|
|
|
Wind_FURY
Legendary
Offline
Activity: 3010
Merit: 1878
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 03, 2020, 08:45:02 AM |
|
Then if the pandemic will be "much longer than we know", wouldn't there be bank runs, bankruptcies, and the collapse of the legacy financial system? If there was only a self-sovereign, international currency we can use. https://bitcoin.org/en/You did not read what I said: The ECONOMIC CRISIS and depression will be far worse than the Corona Virus, and last for MANY, MANY years.... Bitcoin doesn't care. It will continue along WITHOUT down-time. You are correct about one thing, there should be bank closures, bankruptcies of most companies, etc. But the government has just BAILED them all out, without that there would have been total collapse of many things. It will still happen, but it will be delayed due to money printing until money printing does not work anymore.
You already debated against your own debate against Bitcoin. I believe you should rest, breathe, and thinking deeply if trolling is actually for you. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
|
| .SHUFFLE.COM.. | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | . ...Next Generation Crypto Casino... |
|
|
|
HardFacts
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 434
Merit: 29
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 03, 2020, 04:23:51 PM |
|
I don't think that anything is a safe heaven now ,
Even precious metals like Gold and Silver have fallen in price during this crisis.
WRONG, WRONG, WRONG.... You obviously have NOT been paying attention. The SPOT paper price is manipulated. The REAL price for the actual coins has shot up to record levels, and there is still a months wait if you pay the high price. Yes, the coins are selling MUCH higher than the paper price, and with a long wait involved. GRADE SCHOOL LEVEL research here: Go to any of the online dealers, and see the ACTUAL price you will need to pay and how long the wait is even at the higher price. Then apologize to everyone here for posting false and bad information. Hard Facts
|
|
|
|
Vishnu.Reang
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 04, 2020, 06:05:15 AM |
|
If Bitcoin can be considered as a safe haven asset, then almost all the assets would come under this definition. Look at the charts for the past 3-4 months. The exchange rates have fallen by around 50%, and the altcoins have lost their value even more. But then, if you want an asset which is outside the control of the central banks, then Bitcoin is one of the best options out for you.
|
|
|
|
Wind_FURY
Legendary
Offline
Activity: 3010
Merit: 1878
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 06, 2020, 09:26:14 AM |
|
I don't think that anything is a safe heaven now ,
Even precious metals like Gold and Silver have fallen in price during this crisis.
WRONG, WRONG, WRONG.... You obviously have NOT been paying attention. The SPOT paper price is manipulated. The REAL price for the actual coins has shot up to record levels, and there is still a months wait if you pay the high price. Yes, the coins are selling MUCH higher than the paper price, and with a long wait involved. Can you show us where the market is for that, or is that one of your trolling lies again? Plus, if true, why has no one taken advantage of that inefficiency in the market?
|
| .SHUFFLE.COM.. | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ | . ...Next Generation Crypto Casino... |
|
|
|
Abiky (OP)
Legendary
Offline
Activity: 3290
Merit: 1379
www.Crypto.Games: Multiple coins, multiple games
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 06, 2020, 09:20:02 PM |
|
If Bitcoin can be considered as a safe haven asset, then almost all the assets would come under this definition. Look at the charts for the past 3-4 months. The exchange rates have fallen by around 50%, and the altcoins have lost their value even more. But then, if you want an asset which is outside the control of the central banks, then Bitcoin is one of the best options out for you.
Exactly. In some way, Bitcoin can still be considered a safe-haven asset against the world's monetary system. That's because Bitcoin is outside the control of central banks and other third parties. You can use Bitcoin at will, without fear of censorship or fraud. But if you're relying on Bitcoin as an asset for short-term gains, I'd suggest you look elsewhere. In times of need, Gold performs better than Bitcoin in every way. Still though, Gold and other precious metals have experienced a sharp decline in price as a result of the coronavirus pandemic. Only Fiat has been performing well, as people have been cashing it out for their daily necessities. I believe that most people are not aware about the true benefits Bitcoin provides over Fiat yet. But the time will come when people in the mainstream world will flock into the pioneer cryptocurrency once trust is lost in the world's banking system. Personally, I wouldn't worry about Bitcoin prices in terms of Fiat since the pioneer cryptocurrency performs well as a decentralized form of money no single entity can control. This gives us power over our own money, which is something not possible with Fiat today (unless it's physical cash). As the crypto/Blockchain space matures, Bitcoin will experience a large reduction in fees and transaction processing times. Over time, the cryptocurrency will become attractive to everyday people making it rise towards astronomical levels in price. Despite the price, Bitcoin is still useful for performing everyday transactions without the need to rely on governments or central banks whatsoever. Hence, Bitcoin could be a safe-haven asset in times of turmoil after all it's been through lately. Just my thoughts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
|
|
|
|
mrrdewitt
Newbie
Offline
Activity: 10
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 06, 2020, 10:21:32 PM |
|
I think you're right. I would not even invest my money in gold and any other financial instruments. It is most reliable to invest in your education, in your own land, in your house, in your plantations or something, for example, a plant nursery. Because even if something happens, you will always have what everyone needs.
|
|
|
|
royalfestus
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 06, 2020, 10:31:34 PM |
|
Bitcoin is not in competition with Gold and I understand you will describe Gold to have done better though they dont any platform of competition. Bitcoin was design to link with main event and that had shown is relevance in use but I dont understand the type of exchange (decentralized or centralized) affect the price of bitcoin. The pandemic crisis comes once in long while and no project will define itself to handle such crisis but bitcoin IMO had done so well to pick from the dump in short period.
|
|
|
|
Meowth05
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 854
Merit: 267
★777Coin.com★ Fun BTC Casino!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 07, 2020, 02:37:39 AM |
|
There is two answers here, first is that bitcoin will not be so safe if you have bought it higher than the current price, in turn you will have loss. Second, is that when you bought bitcoin at the time when it was lower than its current price then you will have a profit. There is a duality in this situation so it really is up to you.
|
|
|
|
LUCKMCFLY
Legendary
Offline
Activity: 2506
Merit: 1869
Leading Crypto Sports Betting & Casino Platform
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 07, 2020, 03:02:00 AM |
|
~snip~
By tradition, Safe Haven has always been gold, despite the COVID-19 pandemic, the price has dropped a bit, but not as much as Bitcoin, because gold is mainly physical, it is difficult to move from one place to another, Bitcoin , like the stock markets, falls in the same way, what has been generated globally is panic, in countries with strong crises it does not matter that Bitcoin falls, since prices in local currency continue to rise, in the local economies of some countries if It can be considered as a safe haven, as is the case of Venezuela, that any currency is more valuable than the same local.
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
HardFacts
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 434
Merit: 29
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 09, 2020, 03:03:04 PM |
|
Can you show us where the market is for that, or is that one of your trolling lies again? Plus, if true, why has no one taken advantage of that inefficiency in the market?
YES, I can... Just go to all the major dealers that sell REAL GOLD AND SILVER COINS... Look at the price they are charging, and compare it to the spot price, and also look at the estimated delivery date. You will see an almost 100 % over spot on silver coins. So simple a 10 year old could do it. Are you really so utterly stupid that you think the paper markets are free ?? WISE UP ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fu6MUK2l.jpg&t=665&c=AFCf2D3znloEcA) Hard Facts
|
|
|
|
|