[2020-03-13] Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle Ea

[hv_]

@Jating. I would assume that the people who tell everyone that 1BTC = 1BTC consider it a currency and not a speculative investment. Ok, however, 1 bitcoin can buy lesser toilet paper, disinfectant soaps and hand sanitizers than when they bought bitcoin on $16k - $20k on December 2017.

Would you consider this as a safe haven?

Hmmm, 1 roll of toilet paper = 1 roll of toilet paper, thus, toilet paper is a safe heaven. But 1 bottle of sanitizer=1 bottle of sanitizer, so sanitizers are safe heaven.
Wait, we can extend this bs theory to everything!!!  

Everything to also 1 scam ICO token = 1 scam ICO token?

@Betwrong. I reckon it presently appears to be a matter of speculation hehehe.

@hv_. There are safe havens. They are protected by large military forces supported and paid for by the people that use them.

sigh  - if sth NEEDS military forces - it is no safe heaven

But right: any ICO in crypto is a scam - incl ETH/ETC

[bbc.reporter]

It is the reason why it is safe haven. It has a military force protecting it, paid for by the citizens that use it, and using the currency to pay for the protection.

Where is everyone hiding when they are selling their stocks, bitcoin and other cryptocoins?

[stompix]

~

Everything to also 1 scam ICO token = 1 scam ICO token?

Well, yeah, the whole principle behind the 1=1 bitcoin idea still stands for any tokens, be it scam tokens, worthless tokens or anything else tokens.

The only difference between 1 bitcoin and 1 bitcoinz is that one is 6000$ and the other 0.
But since from the start we're disregarding fiat value with this 1=1 argument, yeah there is no difference, 1BCC=1BCC

sigh  - if sth NEEDS military forces - it is no safe heaven

Well, even religious heavens have their guardian angels so...

[bbc.reporter]

@stompix. It might be $6k today, however, it was on $20k 3 years ago and only a few days ago, it was dumped on $4k. Everyone is running where and holding what to be safe?

Heaven is a safe haven not because it is heaven. It is because of the guardian angels that made it safe.

[stompix]

@stompix. It might be $6k today, however, it was on $20k 3 years ago and only a few days ago, it was dumped on $4k. Everyone is running where and holding what to be safe?

Well, I didn't say it's a safe haven, actually lately in the few topics I participated I've told people to wake up to reality...

When I mentioned the price I did because this would be the only thing that would differentiate BTC from a shit token in the first place.
Let's suppose another clone of bitcoin appears, nobody puts that much fate in it, the price is going to be 2 cents per coin. But behind the price and the trust in it, regarding the code, it's still a copy of bitcoin, the same mechanics the same code the same specs.

The only difference is the trust people put in it, thus the price difference, because people think bitcoin is worth 6k and the clone 2 cents.
But 1BTC=1BTC and 1 clone BTC =1 clone btc.

And about the variations in the price you mentioned, it's the same trust that dictates everything, two weeks ago people believed the coin is worth 10 k toilet rolls, not they believe it's worth only 6k, and during the panic, they thought it was worth only 4k. The clone went down to one square of toilet paper but the principle still stands 1=1. A form of denial, nothing more.


 

[bbc.reporter]

Are you telling everyone that the only thing that is making bitcoin the good coin is the price? Would bitcoin be a shitcoin for you if it is on $0.50 and bitcoincash the good coin if it is no.1 in coinmarketcap.com?

[stompix]

Are you telling everyone that the only thing that is making bitcoin the good coin is the price? Would bitcoin be a shitcoin for you if it is on $0.50 and bitcoincash the good coin if it is no.1 in coinmarketcap.com?

Not a shitcoin but a useless coin, slight difference, for example, I don't consider dogecoin a shitcoin, and this only because it has usage.

Usage and price are the results of the confidence in a coin, that's why shitcash and shitsoshi vision are 200$ and BTC is 6k.
If people would dump bitcoin to 1$ and would buy some other token it means simply they don't trust bitcoin anymore and they trust this new one one hundred times.
Just as when a hardfork occurs, the longer chain wins.

It's not that the price dictates anything, but the trust people put in it, so if the coin drops to 1 cent, there is no trust. Simple!

[bbc.reporter]

@stompix. However, most of other cryptocoins have similar qualities as dogecoin to also have similar sets of usages. Are most of these other cryptocoins not shitcoins? What is a shitcoin? I reckon it might be that there is no shitcoin or everything is a shitcoin hehehe.

In any case, the safe haven killed @MustStopMurad's Adaptive Capital.



Crypto hedge fund Adaptive Capital is shutting down, The Block has learned.

In an investor letter reviewed by The Block, Adaptive said that it plans to return remaining capital to its Limited Partners following a steep drop in bitcoin's price during the March 12-13 trading session.

Read in full https://www.theblockcrypto.com/post/59343/crypto-hedge-fund-adaptive-capital-is-shutting-down-after-it-took-a-big-hit-during-last-weeks-bitcoin-price-plunge

[figmentofmyass]

Crypto hedge fund Adaptive Capital is shutting down, The Block has learned.

In an investor letter reviewed by The Block, Adaptive said that it plans to return remaining capital to its Limited Partners following a steep drop in bitcoin's price during the March 12-13 trading session.

they didn't mention bitmex by name, but it's obvious they sustained massive liquidations there last week.

i was wondering when some of these hedge funds launched in 2017-18 were gonna go belly up. i guess this crash is finally scaring some of them out of the market for good. tbh, that seems kinda bullish to me.

[webtricks]

That is what they all say until they have reached a point of capitulation and begin to sell in panic themselves hehehe. I reckon many of the safe haven buyers of December 2017 might be stressed in all of their years holding bitcoin. They know their money would have grown in value holding something else.

Well, we are in a very different situation now, imo. People who were buying BTC in December 2017 were buying at the top, and today we at the bottom, don't you think?

I tried with scuba diving, I tried with submarine but no man, it is not possible to determine the bottom of Bitcoin. I can easily predict bottom of most of the securities in stock market in normal conditions with my Trend Analysis knowledge. But for bitcoin, I am always wrong even in normal conditions. It can fall, it can rise, any time, arbitrarily.

If it's not the "end of Bitcoin", declared so many times before, those Middle East guys have a point in calling Bitcoin a safe-haven asset.

If Bitcoin's value is not zero, it doesn't mean it's a safe-heaven asset. We have to consider relative return whenever assessing whether an asset is safe investment or not. But in case of Bitcoin, most of the investors are either in very high profits or bearing very heavy losses. Ask those who invested when bitcoin was $19K. They are still at the loss of 70%. Will they every consider bitcoin as safe-investment?

[bbc.reporter]

If bitcoin was viewed as an insurance policy or a bet that speculates that the present financial and political mechanisms might shutdown, I reckon this view can be used for bitcoin to be a safe haven.



Chart guru and financial analyst Peter Brandt has commented that assets such as gold and Bitcoin should be viewed as catastrophic insurance policies, not as investments.

IMO, precious metals (#GOLD and $BTC) should be viewed as catastrophic insurance policies — not as investments. A premium is paid, hoping the policy is never needed. But if it is needed, the owner is protected against a worst case scenario. https://t.co/JrMhQe0jIF

— Peter Brandt (@PeterLBrandt) March 23, 2020

Read in full https://beincrypto.com/bitcoin-should-be-viewed-as-insurance-not-an-investment-trader/

[hv_]

If bitcoin was viewed as an insurance policy or a bet that speculates that the present financial and political mechanisms might shutdown, I reckon this view can be used for bitcoin to be a safe haven.



Chart guru and financial analyst Peter Brandt has commented that assets such as gold and Bitcoin should be viewed as catastrophic insurance policies, not as investments.

IMO, precious metals (#GOLD and $BTC) should be viewed as catastrophic insurance policies — not as investments. A premium is paid, hoping the policy is never needed. But if it is needed, the owner is protected against a worst case scenario. https://t.co/JrMhQe0jIF

— Peter Brandt (@PeterLBrandt) March 23, 2020

Read in full https://beincrypto.com/bitcoin-should-be-viewed-as-insurance-not-an-investment-trader/

... than conclude: That guy is long both af - heavy bags, nice position talk

 

[bbc.reporter]

@hv_. He might, however, his statement is not wrong. He was reasonable. It is also not similar to the old hype of hodl that maximalists like to use on everyone.