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Author Topic: Tyler Winklevoss: BTC is not a hedge to pandemics  (Read 472 times)
WatchMaker
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March 17, 2020, 11:08:33 AM
 #21



https://twitter.com/tylerwinklevoss/status/1239255301171314689

Do you agree on Tyler's view? personally, this is what we have seen obviously, when global markets are affected, every assets are going to be impacted as well, gold and oil for instance. And. this is new ground for bitcoin, we have never seen this before. The use case that we have witnessed is the Venezuela crisis, not a pandemic like this so I'm with agreement with him

Tyler was right, I'm still holding this - bcoz it is history right here Wink


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March 17, 2020, 11:31:11 AM
 #22

The price will recover & everything will return to normal once this virus dies out & people stop panicking like school girls. I think for sure bitcoin will trade at around $10,000 by the close of 2020.
Now is the time to be buying, not selling.

Are you referring to the BTC price or the global economy? I don't think it's realistic to expect everything to return to normal if the pandemic ends in the next 3-4 months, which is kind of optimistic prognosis. Also, the virus will not die, it can just stop expanding the way it is does now (assuming that people develop immunity), or it can mutate. As for your observation "stop panicking like school girls", you should know that 300+ people die in Italy daily from COVID-19, and they are just in first month of epidemic.

I agree that now is good time for buying, but only if you have some extra money and you live in country where people do not pay fortune for simple protection mask or disinfectant. In my country pack of masks costs around 3 EUR, now the same pack is cost almost 65 EUR.

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March 17, 2020, 11:54:03 AM
 #23

With the way how every major market turns to south currently, yes, Tyler's views are actually of releveance. Everyone is panicking: supermarkets are being emptied of basic necessities and there are uncertaintiea everywhere. People are basically liquidating assets for fast cash to buy what they need, hence why most stocks and most cryptocurrencies are down. Hopefully this goes only short-term, and that vaccines would be out by the next 6 months. No one anticipated the outbreak anyways so panic really would be the initial response.
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March 17, 2020, 01:02:33 PM
 #24

Bitcoin has not shown itself to be particularly stable in this situation, even if we compare it against oil, stocks, gold and other conservative assets. Therefore, I strongly doubt that if it shakes, then cryptocurrencies will be something significant.

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March 17, 2020, 11:02:59 PM
 #25



https://twitter.com/tylerwinklevoss/status/1239255301171314689

Do you agree on Tyler's view? personally, this is what we have seen obviously, when global markets are affected, every assets are going to be impacted as well, gold and oil for instance. And. this is new ground for bitcoin, we have never seen this before. The use case that we have witnessed is the Venezuela crisis, not a pandemic like this so I'm with agreement with him

Talking about gold, I'm not really sure (tho gold should be affected too). The last time I checked, gold price just had a slight decrease. Unlike bitcoin whose price has been sort of slashed in 2.

Get a wallet and move some BTCs, here's mine: [12GZz7hegu8VCkJYHSuP3WTXg7LGXgL1vT]
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March 17, 2020, 11:25:40 PM
 #26

I don't think Bitcoin is at the point in its lifecycle where it can be considered a hedge against anything.

Right now, Bitcoin is still reliant on the internet. If that goes down, so too does Bitcoin.

Until we can get starlink going or some other network based satellite system, Bitcoin isn't completely safe, and will likely collapse when traditional markets do.

We need something that will enable Bitcoin to thrive even without internet or strong access to electricity. Offline wallets will only get us so far since they are unwieldy.
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March 18, 2020, 02:02:03 AM
 #27

He was right, it is not only BTC who is facing a downfall today, but most of the industries around the world are also affected by the huge problem by the Corona Virus. this pandemic has brought a huge problem in the market and the worst part is, we don't know how long it will affect the crypto market. Most of the major cities are facing lockdown as of the moment and we don't know when will it end.
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March 18, 2020, 04:31:33 AM
 #28

I agree with Tyler submission. A pandemic in the world is deadly to human, and when the whole of human race is been threatened by a pandemic which has no immediate solution the fear of death and what happens will cause everything to begin to collapse. Every investment class will be affected both real estate.

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March 18, 2020, 07:19:35 AM
 #29

Even gold is not working as risk hedging right now. I dont know in what to invest

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March 21, 2020, 08:13:06 AM
 #30

I agree with what he has said, he’s right. This is a global crisis and everything will be affected . Gold has been dropping in price after reaching as high as $54000+, it dropped down to $48000+ per kilo gram. So, the same way that Bitcoin is being influenced by the pandemic is how other stocks and assets are being affected. Right now, there are things that people are more worried about than stocks and assets like good and Bitcoin.

For now, the most important thing to the world is how to solve the outbreak that has taken place, people’s health is what matters most and not really all these. It’s when you have life that you talk about money.
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March 21, 2020, 08:57:02 PM
 #31

Contrary to popular opinion , people are more worried about their health .
At the same time they cannot just stop everything and then start just relaxing at home , the government is not able to provide salaries for them at a time like this .
Saying how people should be more worried about health is not something that we are seeing from their point of view, the current society is all around money , you can only afford to stock up during quarantine if you have money .
So if they are worried about Bitcoins, about their investments , come on people they have to earn one way or the other , life never stops , nor does the taxes or other expenses.

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March 21, 2020, 09:16:47 PM
 #32

I feel like a genius more and more lately, seeing all these experts and influencers come out only to say things I've been thinking all along.

Surely there must be a lot of people feeling a bit stupid now, especially when Bitcoin was flying during the US-China trade wars, Iran tensions and even at the beginning of the news trickling out of Wuhan.

When the whole world is hurt, hungry and fearful, everything else takes a back seat. Even Bitcoin.

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March 21, 2020, 09:31:11 PM
 #33

I agree. Surprisingly, Bitcoin already has some signs of recovery compared to pretty much every stock indices at the moment.

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March 22, 2020, 02:20:16 AM
 #34

I might be wrong, but I haven't actually seen anyone saying it's a hedge to pandemics. All I've witnessed for now is charity scams and dumb ass articles on cointelegraph trying to connect the outbreak in its early days to price fluctuations
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March 22, 2020, 04:41:35 AM
 #35

Who said Bitcoin is a hedge to pandemics tho?
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March 22, 2020, 12:46:11 PM
 #36

I might be wrong, but I haven't actually seen anyone saying it's a hedge to pandemics. All I've witnessed for now is charity scams and dumb ass articles on cointelegraph trying to connect the outbreak in its early days to price fluctuations

It's because in bitcoin's existence, we haven't seen this kind of situations and we even don't know how to react to it. And with the current situations, everyone is into a panic pushing the price and then media telling that it is not a hedge. Well, how can we say that if this is the first time we have experience this?

On the contrary, we should look at the bright side, and learn from it.

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March 23, 2020, 02:18:33 PM
 #37

Even gold is not working as risk hedging right now. I dont know in what to invest

Only think i will tell you: If you have your wealth invested in fiat, expect to lose it any moment. There are many things you can buy to sell later at fair price EVEN if your fiat collapse.

Holding in fiat is so dangerous because people lower the guard and there is where they are hit the worst.

Gold is not bad, bitcoin is great, some other assets are fine too. Diversify if you don't trust, but stating in fiat is only a bomb waiting to detonate.

And yes, bitcoin is simply a matter of waiting for a price recovery, if you bought at higher price. But if you are yet to buy, current low prices are great to get in.

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March 23, 2020, 02:23:58 PM
 #38

I believe people are seeing the pandemic just as another way of making money. The panic is juzt an excuise that people who can't understand how the markets work use to explain the current situation.
When stocks fell many wealthy investors saw it as an opportunity and started  taking leveraged position because that's what you do in stocks. They usually fall a little then go up again, so for the last 10 years all you needed to do is buy when they went down just a bit, but when they continued to fell and every next session closed lower people had to get money from somewhere to keep their positions from being liquidated so they sold their long term steady investments like BTC, commodities and so on. Silver has taken a big hit lately among other things.

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March 24, 2020, 05:56:30 AM
 #39

Who said Bitcoin is a hedge to pandemics tho?

No one. It's just that a lot of people are already claiming that bitcoin failed as a hedge in general just because it crashed by 40%+ most likely due to the fear of the coronavirus pandemic. I mean, take a look at r/cryptocurrency and crypto Twitter.

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March 24, 2020, 07:03:04 AM
 #40



I'am absolutely agree, as we all know when the corona virus started in spreading it everything are collapsed and the bitcoin doesn't saved from collapsing because of what is happening in our crisis now. But instead of worrying about the price of many currencies such as bitcoin, we need to give so much attentions on our health, family and foods because these are most important among them. After the crisis about the COVID-19 everything will be fine and starting to get back to normal, but for know just focused on our health first.

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