Is Bitcoin truly a safe-haven asset?

[teosanru]

Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.

Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.

As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.

No Not at all bitcoin can't be said a safe haven asset. Yes there is one thing that I feel that in times of uncertainty in stock markets bitcoin does shows some stability and even some upward movement so if you are looking for short term safe heaven then yes bitcoin can be used as an option. Otherwise yes it is purely  a speculative risk asset. It has a great underlying blockchain but today that blockchain really isn't worth the market capitalization bitcoin is carrying. But yes at time of a global recession I think it's price will definitely move upwards. But yes here I would highlight another major question. Is there any Safe heaven asset anywhere at all? I mean bank fixed deposit can get doomed if banks shut down while crude oil which was once considered a safe heaven has seen rock bottom. I feel that even gold would suffer a similar fate.

[Hypnosis00]

Nothing to say that Bitcoin is truly a safe-haven asset since its creation but have something to say that it was really potentially profitable. What does it look like that it is because of its volatility feature which really far different from the others? Gold is also (less) volatile, and I think all the assets around but they all just of big difference from how Bitcoin moves and easily gets affected.

But why still a lot of people investing Bitcoin? As I've mentioned, it was potentially a gaining asset that most people had admired most more than enough to compared gold. But the thing to be clear is that the risk is high than the rest.

[ReiMomo]

No, I am sure Bitcoin is not a safe haven asset, on the contrary it is a high risk speculation. Bitcoin has a very high price volatility so people invest in it and hope to make a profit. If anyone intends to hide his assets in bitcoin, I think he should seriously rethink.

Bitcoin is not a safe haven in terms of price stability in the market, the high risk was always there because of the word "volatility" every time the price will fluctuate upon following the demand and supply movement. But when it comes to the seizure resistance bitcoin is the answer.  The government can't confiscate your bitcoin asset and it is extremely safe if you know how to keep it safe in your bitcoin wallet.

However, there's no really what we called safe haven. All are at risk but it depends on how we manage.

[rexxarofmoknathal]

I don't guarantee that Bitcoin is a completely secure asset. But Bitcoin also has many benefits such as:
1. P2P Transfer instant.
2. You can transfer anywhere (same difference in gold, Bitcoin can be transferred everywhere).
3. In addition, transfer costs are very low.
4. Trading profits are enormous.
And many more advantages.

I agree in that BTC cannot be regarded as a safe asset to invest in due to large price volatility which at times of price dumps slumps 'consumer's' confidence.
Indeed, BTC is the most valuable asset to have as a coin but this also attracts a lot of fraudulent activity. So while there are clear advantages to owning BTC (as above) the risk is just as high and because of this BTC isn't a safe-heaven asset.

[ropyu1978]

it all depends on your definition of a place of refuge, in my opinion anything that is peddling deserves suspicion and deserves to be scrutinized, whatever assets we hold at risk will definitely exist, but even though bitcoin is at risk one day it can generate huge profits ...

[online73]

Hello everybody. I would not firmly assert 100% that Bitcoin is a haven asset. Nevertheless, the refuge implies in itself - calmness, and the movement of the price of "digital gold" cannot be called calm. Although, if you look at the entire short history of Bitcoin, calm can be found in the constancy of the average annual growth of this price, so it can be partially argued that Bitcoin is a safe-haven asset.

[btc-room101]

Hello everybody. I would not firmly assert 100% that Bitcoin is a haven asset. Nevertheless, the refuge implies in itself - calmness, and the movement of the price of "digital gold" cannot be called calm. Although, if you look at the entire short history of Bitcoin, calm can be found in the constancy of the average annual growth of this price, so it can be partially argued that Bitcoin is a safe-haven asset.

'Safe Haven' is a place you go when the SHTF, does that place have an internet connection?

Risk versus reward.

So far BTC has been a high-risk, high-reward gambling operation; GOLD ( physical in your hand ) is low risk of entire loss, but its insurance. The man who buys insurance doesn't say "Look I'm rich, I just bought insurance", What he bought is an enabling means to flee to a 'safe haven' in the event the SHTF.


In the case of BTC if the SHTF, all HODL'rs at once would "SELL", of course system only handles 7 transactions/second, most HODL'rs only hold 0.05BTC, when the SHTF BTC fee's will go higher than 0.05BTC, wiping out any hope of pocket money to flee to a 'savf haven'

GOLD people 'pay as they go', they don't worry a little gold for passage, and a little gold on arrival, and they start over a new life.

GET RICH QUICK, and 'safe have' are mutually exclusive, but how to you get idiots & morons to understand??

This has been the problem all along with virtual-currency, its anything they  pull out of their arse, one day btc is digital-gold, the next day its digital-cash, next day digital-oil, its whaever they want it to be, see the pattern here? BITCOIN is alice in wonderland.

[giantrobot]

Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.


Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.

As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.

Bitcoin is not really a safe shelter. Because Bitcoin can be stolen by hackers or network criminals. They can penetrate your computer and stolen accounts or personal information. Bitcoin is a valuable asset so many bad guys want to take over. You have to protect your property well.

[btc-room101]

Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.


Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.

As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.

Bitcoin is not really a safe shelter. Because Bitcoin can be stolen by hackers or network criminals. They can penetrate your computer and stolen accounts or personal information. Bitcoin is a valuable asset so many bad guys want to take over. You have to protect your property well.

Exactly, safe-haven, means that "SAFE"

Everybody that I know who has "LOTS of BTC" fears the Nigerian Mob kicking their door down, the family getting raped until the private-keys are handed over, u get the picture.

Is Asia everybody has gold, and its hidden, but with BTC right now, just a few people have a lot of it, and they CANT seem to keep their mouth shut.

In all human history, the rich always keep a low profile.

Yes, its very easy for criminals to steal your bitcoin, hell its easy for criminal through social-engineering to get your family members to steal your bitcoin.

All anybody needs is a 32 character string, with that your money is gone. There has never been a better time to steal, bitcoin has created a criminal paradise on earth, where even the victim can't go to the police, as they dont' even know how to investigate the crime.

Its easy for criminals to find large addresses, to geo-locate the owners; its all easy to hack bitcoin, its easy to hack wallets, its easy to hack stolen .json wallet files on computers or phones its all too easy

[noorammak]

Bitcoin is a safe place to keep wealth for two reasons. Bitcoin is becoming the world's new store of value with the acceptance of many financial institutions around the world. You are the one directly managing your Bitcoin and only you will know the password to unlock your bitcoin wallet.
The risk when you put your assets into Bitcoin is that Bitcoin's volatility is greater than other assets. If you buy Bitcoin at the top of the bear market, it will take a few years for Bitcoin's value to recover.

[TribalBob]

for me owning bitcoin is not too safe because cyber robbers are very cruel, they can drain property in a matter of seconds even we sometimes realize and see btc we move to other wallet
maybe that is the risk that exists for bitcoin which in my opinion is commensurate with the value of btc itself
I have gold the reason I buy gold because the value of gold is quite stable and for me to store gold is a safe-haven asset.

[geegaw]

for me owning bitcoin is not too safe because cyber robbers are very cruel, they can drain property in a matter of seconds even we sometimes realize and see btc we move to other wallet
maybe that is the risk that exists for bitcoin which in my opinion is commensurate with the value of btc itself
I have gold the reason I buy gold because the value of gold is quite stable and for me to store gold is a safe-haven asset.

Hackers on bitcoin's system are too many and if we fall into some weird and inattentive signage, our assets can most likely evaporate in the dark and until we know it, our reporting cannot be resolved as there is no one to support this issue, so considering bitcoin as a haven is too false, it's just a super investment with huge returns. Safe assets should include physical things such as gold and real estate, even diamonds are worth considering, their importance never diminishes over time, they are only inferior to bitcoin in terms of profitability

[lifeforcepools]

Yes, and if many people didn't panic, it would be a stable safe-haven.

[btc-room101]

Yes, and if many people didn't panic, it would be a stable safe-haven.

There u go again, BTC is not a safe-haven, because its not a real asset. It's not liquid, and its supported by nothing. U can't compare a tangible to a non-tangible, you do but its just plain dumb.

BTC losing 25% of its value has nothing to do with safety, GOLD too has lost 90% in bad years, and GOLD didn't lose its 'safety value', gold didn't lose its 'safe haven' status, same-same for 100k years

Gold is Gold, its real and it never depreciates to zero

Bitcoin is virtual bullshit, and its backed by nothing, when you pull the power & internet, its gone. Gold is never gone.

BITCOIN is not universally accepted, that makes it  worthless for emergency exit during time of war.

The reason that all of ASIA keeps gold, is that throughout history you never know when you have to run out the door, with just your clothes and some gold coins in your pocket. With gold you find a new place to live the gold allows you to build a new home, and start farming again elsewhere.

USA didn't evolve this way, so they don't think in terms of 'fleet to safety', and what to bring

The USA are setup to roll over and die, at the first outbreak of hardship, they can sit around a cannibal dinner, and talk about how much BTC they used to have.

[masphie]

My opinion...
To this day, bitcoin to me is not a safe asset because all cryptocurrencies are speculative and not real, although we can analyze their movements. But I stay in it and make bitcoin an asset or a side income. If you don't want to take bigger risks, it's better to keep your assets in gold. Although we can both analyze it, gold is a real item.

[ivankoh]

I have gold the reason I buy gold because the value of gold is quite stable and for me to store gold is a safe-haven asset.

Where will you keep the gold in your house?  Will you put it in the bank ??  Is it safe for you?  Theft and evils are complete, you put it in a sharp safe and rest assured that it won't break with time or danger.  I doubt that.  I mean, neither gold nor bitcoin are absolutely safe havens and storage.  All must have certain risks.  In terms of security, bitcoin will be superior because of its automated technology, but it still has inheritance and hacker risks.  Bitcoins are not authorized if you "crash".  In terms of value, bitcoin is still pioneering.

[dificanovi]

Bitcoin evangelist has always attributed Bitcoin to be a safe-haven asset, while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.

Since Bitcoin is purely a speculative risk asset, many people have doubted its position as a purported safe-haven asset, I am not one of them anyways. However, since Bitcoin hasn't witnessed a global recession yet, I feel Bitcoin hasn't sufficiently defended its narrative as a safe-haven asset.

As the possibility of a global recession intensifies, what's your take on the possible performance of Bitcoin? will it go down with the traditional market or will it defend its name? I am very much interested to know.

now is living proof that bitcoin has really helped to ease the economic crisis in the whole country. if we compare the current price of bitcoin with the price of bitcoin in 2020 the difference is very far, especially if we compare it to 2016,2017 and 2018, the price of bitcoin at that time was very much cheaper.
at this time we have nothing to doubt about bitcoin because its popularity is already very large and favored by investors around the world, so don't be afraid to lose if you buy bitcoin at this time because the price will continue to rise every year.

[Ozero]

Hello everybody. I would not firmly assert 100% that Bitcoin is a haven asset. Nevertheless, the refuge implies in itself - calmness, and the movement of the price of "digital gold" cannot be called calm. Although, if you look at the entire short history of Bitcoin, calm can be found in the constancy of the average annual growth of this price, so it can be partially argued that Bitcoin is a safe-haven asset.

In any case, bitcoin, like other promising altcoins, is a good refuge during a period of high inflation in the national currencies of states. If we entered the period of the impending global economic crisis, I think this would be seen more clearly. But we can already see that states with a high level of inflation, such as Venezuela, immediately pay attention to cryptocurrency and, thanks to it, try to fix the situation.

[DatKing]

I think that it is a safe-haven asset if you are in for a long term. Otherwise, it's not that safe at all. I've always seen Bitcoin as the best coin for long-term investments rather than short-terms. Bitcoin has a bright future and you must not be very impatient if you want to make a big profit.

[btc-room101]

Now it is difficult to call Bitcoin a safe-haven asset. But I assume that will be the case in the future. So it's better to keep holding a little bit of bitcoin.

Is an intangible a safe haven, is btc 'real' like real-estate, these are debates only left for morons.

Is something that just showed up 10 years ago, and could evaporate in the next 5 years really 'safe', IMHO we seriously need to define the word 'safe'.

'Safe Haven' is in regards to ships during storm, long ago a 'safe haven' was a place you could anchor a ship to weather out a storm. Since SHTF has't transpired to date in btc's short ephemeral life, since the last SHTF was 2007, in which btc did not exist, nobody has a damn idea how btc will weather the next storm.

Just because resident moron's on this site say's BTC is safe, doesn't make it so.

Safety like 'safe havens' are time tested, known-knowns.

The entire goal of the rich is to keep their wealth, since BTC can go to zero, its not exactly a safe place, a high probability to go down, and low probability to rise, is a fools 'investment'.