Advantage of holding Bitcoin in time of crisis

[Ojima-ojo]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

[Bushdark]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

There are many advantage to holding Bitcoin apart from what you have mentioned so let's just stick to what works for us. The current crisis between Russia and Ukraine had deprived many people of there right and acces to good food.

 We might not not the effect now until we get a grasp of what people that are there are suffering. War is not something we should encourage but the use of Bitcoin since had been helping many Ukraine citizens on donation and free will to help the injured and dead Ukraine soldiers.

[OgNasty]

I think if you're in a country with high inflation and a tendency to use banks to rob the people, Bitcoin is a floatation device in a sea of horrific financial conditions.  I couldn't imagine living in a country with 100%+ inflation.  It's hard enough in the US with inflation where it is.  Having your savings taken from you by your bank, or inflated away to nothing by your government is a real problem that a lot of people face.  This is hard for westerners to comprehend, but I think as corruption becomes more clear in the west and governments become more desperate, the value that Bitcoin has for everyone will become quite apparent. 

[BitcoinPanther]

There are many advantage to holding Bitcoin apart from what you have mentioned so let's just stick to what works for us. The current crisis between Russia and Ukraine had deprived many people of there right and acces to good food.

Just a question, does holding Bitcoin give them access to good food?  I wonder how can holding Bitcoin help these people in accessing good food?  Isn't it more convenient to them if they have cash to pay for their food?  As far as I know, there isn't much retail stores that accept Bitcoin as payment, and there are still many suppliers that are not into Bitcoin.  So I wonder, what change does it gives holding Bitcoin against holding cash in hand?

We might not not the effect now until we get a grasp of what people that are there are suffering. War is not something we should encourage but the use of Bitcoin since had been helping many Ukraine citizens on donation and free will to help the injured and dead Ukraine soldiers.

Isn't fiat donation helping them the same way Bitcoin donation helping them?

The only thing I see holding Bitcoin become advantage is that it can increase in price in the long run, meaning if you are holding $100 worth of BTC today, there is a possibility that in then next years you will be holding more than $100 but there is also a possibility that you can hold less if the price of Bitcoin crash.

In time of crisis and people have no way to earn money, I do not think people will hold on their Bitcoin when they don't have money to spend for their needs, they will eventually cash out to pay for rents and bills.  I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

[stompix]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.
Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Now imagine your wallet was at home on the first floor of a 15 stories high collapsed building! 
Please do tell me how you would react if all your coins would be there or on a laptop that has been crashed by the rubble while the building collapsed.
Can we stop for a moment taking advantage of every tragedy to pump up bitcoin, just a thought, nothing special, you know, maybe not using the death fo 30 000 people and counting for personal gains and ego.

[Bananington]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services,

There are some kinds of crisis where the amount of money you have will not matter because there will nothing to buy and no one to sell. The situation in Turkey and Syria is close to that with many people's number one concern becoming how to survive and not how to save.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

A lot can even still happen in a crisis, still using the situation of things in Turkey and Syria, Imagine how many persons have lost their personal phones and computers and also access to where their keys are saved for easy retrieval, for people who stored them in a physical location maybe on paper, or inscribed somewhere and kept thinking it was safe. Many people in crisis are also at the danger of loosing their bitcoins.

[Smartvirus]

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin,

Having bitcoin for a store of value is one thing as it serves as a form of investment but, not so much for a currency and don't really stand out in the absence of financial institutions as its yet to be used globally or even locally for a means of exchange by the various merchants that are operational in a region.
You still very much need financial institutions to keep up with the task of having some acceptable currency for a legal tender within your jurisdiction.

Bitcoin could make l8fe a lot easier with the fact that, you get to stay off the radar of having your accounts frozen, limited withdrawals and more controls by creating limits. Other than these, you'll still need financial institutions to keep the fiat in circulation at the time.

[Scripture]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Bitcoin is not good for savings because of its volatility and if there’s a crisis, you can’t be so sure that cryptocurrency will be the safe haven, remember during the pandemic and the war? People are panicking and the cryptomarket is down as well.

Keeping your keys might also be your another problem, you have to make sure during the crisis you have this with you or else your wallet will be hacked or be wasted at all. I still see Bitcoin as a good investment for long term, I just don’t see this as a best option during crisis because usually, cash is still the best option.

[jossiel]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

That's true and we have saw on how good it was for many crisis. Not just with these incidents from Turkey and Syria, not just with Ukraine and Russia but also even with a pandemic.

Although it's not for everybody that sees volatility isn't an opportunity. But for us that sees it as an opportunity is looking forward that it's one of the greatest asset that we can ever have.

Not just increasing in value overtime but also its characteristic as a deflationary asset is one we can bank on.

[Baofeng]

If I'm not mistaken, bitcoin has proven itself to be a good hold in countries like Zimbabwe hyperinflation problem which started decades ago and shown again in 2018. So yeah, I would tend to agree in which people may have live to a country wherein it's money is not doing good, it's being to hedge your wealth in bitcoin and see how it goes at least in the next 4 years. So it's one way to preserve once capital, and so you relieved yourself of the pressures and on the contrary you might be looking to grow your money at the same time investing on BTC.

[n0ne]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

That's true and we have saw on how good it was for many crisis. Not just with these incidents from Turkey and Syria, not just with Ukraine and Russia but also even with a pandemic.

Although it's not for everybody that sees volatility isn't an opportunity. But for us that sees it as an opportunity is looking forward that it's one of the greatest asset that we can ever have.

Not just increasing in value overtime but also its characteristic as a deflationary asset is one we can bank on.

Agreed, not just the market fluctuation. Bitcoin being deflationary makes it best against the traditional fiat. The usage of bitcoin helps in all situations and we need to make use of the characteristics than just staying idle out of fear and with the mind that doesn't take risk.

Bitcoin have helped people all over the world at different circumstances through its growth as well as the volatile market that lets people earn something out of the difference between buying and selling unlike the market trend of bitcoin.

[AmoreJaz]

If I'm not mistaken, bitcoin has proven itself to be a good hold in countries like Zimbabwe hyperinflation problem which started decades ago and shown again in 2018. So yeah, I would tend to agree in which people may have live to a country wherein it's money is not doing good, it's being to hedge your wealth in bitcoin and see how it goes at least in the next 4 years. So it's one way to preserve once capital, and so you relieved yourself of the pressures and on the contrary you might be looking to grow your money at the same time investing on BTC.

bitcoin is great for those who know how to handle and manage it. however, let us think of other people who are not yet educated with crypto market. and that population is still huge up until today. hence, a lot are still sticking to their banks. but once people got acquainted with crypto and learn the ropes, they would be grateful for knowing this industry. people should not be afraid of exploring new things and technology. sometimes it is here for very good reasons.

[Adbitco]

This is somehow directly referring to my country condition presently, there's a financial crisis where we do not longer have access to cash anymore, even though we hold bitcoin how we sells to buy food, transportation and the rest. The country is in a state of perplexity, everyone is stranded due to our Naira redesign the old notes are no longer accepted as a legal tender 500, and 1000 Naira old notes are no longer to be used anymore couple with bad Network, transfer are no longer going through.

[Old layer]

I really don't think That bit coin can help in all situation or crises, let's take for instance in a country where war and other conflict is currently going on do you really think that people will care more about their Bitcoins over their lives? I don't think so . In times like this, purchasing of items like food, water, and shelter won't really depend more on Bitcoin transactions. During such crisis, in a civilized country the government of such country's will see to it that it's people are well treated and provided for. They will have nothing to think of more or less Bitcoins. Although on the positive side, such held Bitcoins can come in handy after crisis, it can be a fresh start for those who lost everything. It can act as a purchasing power, a new beginning

[Hispo]

There are advantages, but in order to hold Bitcoin during times of crisis one is supposed to be able to circumvent some of the impacts of the crisis, otherwise if the crisis affects us personally, we could face a problem and then be forced to sell or ask for a loan, using our satoshis as collateral.

It is about priorities.

I think if you're in a country with high inflation and a tendency to use banks to rob the people, Bitcoin is a floatation device in a sea of horrific financial conditions.  I couldn't imagine living in a country with 100%+ inflation.  It's hard enough in the US with inflation where it is. 

Well, here in my country we had one year when we reached an annual inflation of 4500%, so you do not have to imagine, you can just ask me whenever you feel like reading a horror story. 

[ChiBitCTy]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

I think it’s important you point out that this isn’t necessarily the case for everyone in the world. There are some places where people have plenty of access to funds in their bank accounts. I do agree though that for many nations owning bitcoin provides a level of financial freedom that they may otherwise not have access to.  Governments can’t stop bitcoin, plain and simple.

[jeraldskie11]

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point,

Just like what happened in Bitcoin last 2020. When WHO declares COVID-19 outbreak around the world. It made a big impact to our economy and most people thought Bitcoin affected by this. Instead, it's an opportunity to buy Bitcoin because the price went down to take liquidity before it went up higher. So if there's a crisis, we should take it as an advantage for Bitcoin.

[xSkylarx]

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point,

Just like what happened in Bitcoin last 2020. When WHO declares COVID-19 outbreak around the world. It made a big impact to our economy and most people thought Bitcoin affected by this. Instead, it's an opportunity to buy Bitcoin because the price went down to take liquidity before it went up higher. So if there's a crisis, we should take it as an advantage for Bitcoin.

People thought that time that the price would drop due to the pandemic, which was wrong. Due to the pandemic, it has become more powerful as a lot of people are using it, and the adoption is also very massive because bitcoin was known when it hit its ATH, which is why a lot of people jump into it. It's because of the pandemic that people got known also for crypto, as they can earn profit on it by trading or investing because people can't get out, which is why they spend their time on learning.

[Darker45]

With or without crisis, the problems with saving money in the banks are numerous. Whether crises are natural or political or economic or whatever, money in the banks could be locked indefinitely. In many parts of the world, withdrawals from ATMs and banks have maximum limits. In some, that limit is extremely low. Sometimes, withdrawals are not even allowed. We have seen scenes in Lebanon and even in China where extreme actions were committed by account owners just to get access to their own money.

Bitcoin fixes this.

[Solosanz]

in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Since you're saying Bitcoin become your banks, it means you're saying you hold your Bitcoin in your hardware wallet. As we know someone will leave their hardware wallet and the seed phrase in the most safest place, also it's need to be hidden and secret. Now explain to me how you can able to get your hardware wallet or seed phrase when the earthquake destroy your house?

I believe you will not have a time to found your seed phrase because the charity organizations in your country will force you to leave the place until it's already safe enough, at that time you will scared if your house might be cleaned up by the charity organizations.

[crypticj]

I think the best advantage is that no matter what will happen to the currency in your country, even if there will be devaluation, you won't lose your money. And even if bitcoin will go down, it will eventually come back strong. So bitcoin is probably the safest way to hold money now.

[wxa7115]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Without a doubt bitcoin holds some advantages over the fiat system, but the situation at Turkey and Syria do not seem like the perfect environment for bitcoin, people lost their homes and they are barely surviving with whatever help they are getting, so I doubt the electric grid or the internet are up so they can use bitcoin.

Bitcoin is perfect when there is an economic crisis and there is a bank holiday, and while everyone using fiat exclusively cannot do anything, you can buy whatever you want with your bitcoin.

[Nrcewker]

During crisis at most important is to survive the crisis. If you can’t survive the crisis, then what you gonna do with the funds that you stored? I agree that Bitcoins make our finances independent. That is no one else will have the control on our money. But connecting this with crisis will be very sensitive matter. People have lost lives, they have lost their loved ones, now will they care about these banks and all? Yes it might be a good example that, how you will have instant access to your money and you can spend it in form of Bitcoins, while others can’t.

[Strongkored]

Surely the opinions of Turkish people will be more valid and because there are also many forum members from Turkey, their opinions should be very valid whether it is true that Bitcoin will provide them with assistance with the conditions they are currently facing.
Just curious why every event is always associated with Bitcoin and what benefits will be gained by owning it, even when there is a disaster, electricity and the internet will be hard to come by, and that is the support needed to be able to access our Bitcoin.
Bitcoin will benefit the holder in the long term but when there is a disaster it may not help at all

[tygeade]

in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Since you're saying Bitcoin become your banks, it means you're saying you hold your Bitcoin in your hardware wallet. As we know someone will leave their hardware wallet and the seed phrase in the most safest place, also it's need to be hidden and secret. Now explain to me how you can able to get your hardware wallet or seed phrase when the earthquake destroy your house?

I believe you will not have a time to found your seed phrase because the charity organizations in your country will force you to leave the place until it's already safe enough, at that time you will scared if your house might be cleaned up by the charity organizations.

I would guess that you could have a backup plan as well, and ledger has that too. Meaning, if you are owner of a hardware wallet, then you get all these seeds and all that, first of all, you could upload them somewhere online which would be unsafe but that is a simple solution to you, very easy, not safe, but very easy.

Secondly, you could just explain to them what happened and hardware wallet company may help you? I do not know if they would, but you could just write it on a piece of paper and put it somewhere that is not your house, even a bank deposit as well. All in all, there are multiple ways if you want to do it, not safe, but multiple ways nevertheless.

[michellee]

Congratulations to those who already have bitcoins in times of crisis, as they can sell their bitcoins and get money to stay afloat. But other people are unlikely to even think about buying bitcoins because to survive, they struggle and have to struggle hard to earn money. People will be more concerned with saving money to buy necessities because that's the important thing they must do. But indeed, bitcoin gives us full control over our savings and we can sell it whenever we want to get money. But if the crisis has an impact on disrupting internet connections, you also can't use bitcoins like before.

[Dickiy]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Please correct me if I'm wrong about what you're talking about, I'm afraid I failed to understand in response.
Here you combine natural disasters, inflation and other indicators that indicate a global crisis, then you link it to the bank's damage due to the disaster so that it is difficult for us to get financial institutions to make withdrawals or something else with the money we have in the bank. I think if it's not the bank center that's affected by the disaster, we can still access our money on the bank's mobile apps, as we know banks provide services digitally for their customers, but if it's the bank center that's damaged, I think that's something bank operators might not be able to do. provide their services and we cannot easily access our money because it is in their control.
I think in this case it can also have the same effect if it is associated with a centralized exchange that has failed, we also will not be able to access our bitcoins if we store them in a centralized exchange.

Yes, our advantage from the points discussed focuses on controlling our money, that's true and I know it very well, and switching deposit money from banks to bitcoin is a very good decision when there is a crisis because basically when there is a global crisis at that time bitcoin will experience a decline and it is the right time to make a bitcoin purchase.

[Yatsan]

Congratulations to those who already have bitcoins in times of crisis, as they can sell their bitcoins and get money to stay afloat. But other people are unlikely to even think about buying bitcoins because to survive, they struggle and have to struggle hard to earn money. People will be more concerned with saving money to buy necessities because that's the important thing they must do. But indeed, bitcoin gives us full control over our savings and we can sell it whenever we want to get money. But if the crisis has an impact on disrupting internet connections, you also can't use bitcoins like before.

People won't really do so if it is a real crisis, ofcourse necessity would be prioritized. The negative side of this opportunity for affected to not be able to recover and if they can, would consume a long period of time. Investments are advantageous if the crisis is bearable. One example is what happened with pandemic wherein many businesses emerged which targeted online platforms and delivery services simply because people are not allowed to go out on certain areas. Investment in times of crisis is simply taking advantage of the situation but be sure your finances could extend that far to a point that you won't be highly affected by the crisis itself.

[crunck]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Your assets will be protected if you save in bitcoins, but bitcoins do not guarantee the value of your assets in the short term. If it's savings for emergencies or future spending, it would be unwise to save in bitcoin. What will happen to your assets in 2022 when bitcoin drops more than 80% in value, and you need to use that money? You need to distinguish between saving and investing.

[Woodie]

Agree with the OP, in this digital age we are living in, we can't leave things to chance...

We need to have contingency plans to avoid being stranded should a crisis come, like is the case with turkey & syria..

and fortunately, cryptocurrencies are the answer to all this which should be an eye opener to all, just unfortunate it had to happen in a way that disrupts people's lives.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

In such a scenario, bitcoin isn't a bad choice, the only downside of it is that your financial position isn't really protected from volatility and times of a bearish market but still remains a better option than keeping money in fiat which becomes inaccessible when infrastructure is destroyed by nature etc.

[freedomgo]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Best alternative indeed, that is the legacy of the creator, Satoshi Nakamoto. As the creator's first and foremost aim is to give the people new options to hedge themselves against the inflation. Now I know there are some risks entailed investing with it but it's somehow manageable rather than sitting doing nothing while watching your money depreciate. Be your own bank, as they said.

I bet bitcoin has been actually really helpful to the people of Russia especially this time where their country is under pressure from the UN, it's the best alternative to preserve your wealth and even get profits from it.

[mendace]

OP In any crisis scenario, whether it be war or natural disasters, having full control over one's finances is an advantage that should not be underestimated. However, as was demonstrated by the Taliban's takeover of the central bank and the ensuing suffering of the people, as well as the early stages of the conflict with Russia in Ukraine, it is the people who always suffer the consequences. Bitcoin is able to address this issue, and I believe that was one of the main reasons why Satoshi had faith and made a bet. The opening lines of the whitepaper speak for themselves.

[michellee]

Congratulations to those who already have bitcoins in times of crisis, as they can sell their bitcoins and get money to stay afloat. But other people are unlikely to even think about buying bitcoins because to survive, they struggle and have to struggle hard to earn money. People will be more concerned with saving money to buy necessities because that's the important thing they must do. But indeed, bitcoin gives us full control over our savings and we can sell it whenever we want to get money. But if the crisis has an impact on disrupting internet connections, you also can't use bitcoins like before.

People won't really do so if it is a real crisis, ofcourse necessity would be prioritized. The negative side of this opportunity for affected to not be able to recover and if they can, would consume a long period of time. Investments are advantageous if the crisis is bearable. One example is what happened with pandemic wherein many businesses emerged which targeted online platforms and delivery services simply because people are not allowed to go out on certain areas. Investment in times of crisis is simply taking advantage of the situation but be sure your finances could extend that far to a point that you won't be highly affected by the crisis itself.

As long as they can meet their needs first and still have money, they can use a little money to invest in bitcoin because it will benefit them in the future. They need to adjust the amount of money between money for their living needs and investing so it doesn't interfere with the allocation of their funds so they can still invest. But if they can't meet their needs, they won't invest because their needs are urgent and they must fulfill them first. And this is why financial arrangements for our lives are very necessary to prepare our future so that it can be better and bitcoin has given us that opportunity.

[Cryptmuster]

OP In any crisis scenario, whether it be war or natural disasters, having full control over one's finances is an advantage that should not be underestimated. However, as was demonstrated by the Taliban's takeover of the central bank and the ensuing suffering of the people, as well as the early stages of the conflict with Russia in Ukraine, it is the people who always suffer the consequences. Bitcoin is able to address this issue, and I believe that was one of the main reasons why Satoshi had faith and made a bet. The opening lines of the whitepaper speak for themselves.

The war in Ukraine did not affect the payment of their funds to people by banks, Ukraine did a good job with this. The best example for this can be the recent situation in China, when people wanted to withdraw their money from the bank, it turned out that the bank did not have this money, which led to big protests. The crisis is reaching global proportions, it may not have reached its peak yet, so the desire to control money yourself is a very good idea that can save you from many problems in the future.

[mirakal]

in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Since you're saying Bitcoin become your banks, it means you're saying you hold your Bitcoin in your hardware wallet. As we know someone will leave their hardware wallet and the seed phrase in the most safest place, also it's need to be hidden and secret. Now explain to me how you can able to get your hardware wallet or seed phrase when the earthquake destroy your house?

I believe you will not have a time to found your seed phrase because the charity organizations in your country will force you to leave the place until it's already safe enough, at that time you will scared if your house might be cleaned up by the charity organizations.

That just depends on the scenario you're in and since you've put it that way, that kind of situation is unprecedented one as even the experts of any nation doesn't know when or where does the earthquake will happen. Now, personally, it's much safer to put it in a bank locker where only you have the access with it and if that is not what you wanted to do, then you probably know where to put it best as it's you who know the place better than anyone.

[Marvell1]

~~~

In time of crisis and people have no way to earn money, I do not think people will hold on their Bitcoin when they don't have money to spend for their needs, they will eventually cash out to pay for rents and bills.  I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

I agree with you, we should not ignore the fact that during the economic crisis of 2022, bitcoin has dropped in value and it cannot fight inflation. If you have a lot of money, then a crisis happens, bitcoin drop is a golden opportunity for us to accumulate more bitcoins, but if we are in financial difficulty holding bitcoins will only make matters worse. If someone saved all their wealth in bitcoin and during last year's crisis when bitcoin dropped more than 70% in value, I think they would fall into despair rather than bitcoin save them from inflation. Bitcoin is only an investment and not a fiat alternative under any circumstances.

[mendace]

The war in Ukraine did not affect the payment of their funds to people by banks, Ukraine did a good job with this. The best example for this can be the recent situation in China, when people wanted to withdraw their money from the bank, it turned out that the bank did not have this money, which led to big protests. The crisis is reaching global proportions, it may not have reached its peak yet, so the desire to control money yourself is a very good idea that can save you from many problems in the future.

I believe that you were mistaken about the start of the conflict in Ukraine. At the beginning of the conflict, citizens found themselves unable to withdraw funds from their banks. If you are not aware, banks do not have enough liquidity to meet all withdrawal requests if they are made en masse. Just prior to the conflict, people were already rushing to the ATMs to withdraw money due to the impending war, but the ATMs were quickly depleted. I can personally attest to this fact as I hosted a family for a few months during that time.

[lovesmayfamilis]

I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

I like your opinion. Some people elevate Bitcoin to the level of a religion, regularly glorifying and chanting about it. But for me, there will be no problem if bitcoin is exchanged for fiat, if necessary. In fact, I am very surprised at those who are persistently trying to convince everyone that bitcoin is only an investment and that it is necessary to hold it to the final high point.
It looks like insanity. It is very doubtful for me to live my life, saving on everything, and hoping for a bright day. Some do not understand that people are mortal and have only one life.

[BITCOIN4X]

I like your opinion. Some people elevate Bitcoin to the level of a religion, regularly glorifying and chanting about it. But for me, there will be no problem if bitcoin is exchanged for fiat, if necessary. In fact, I am very surprised at those who are persistently trying to convince everyone that bitcoin is only an investment and that it is necessary to hold it to the final high point.
It looks like insanity. It is very doubtful for me to live my life, saving on everything, and hoping for a bright day. Some do not understand that people are mortal and have only one life.

I think that's the most rational opinion I've ever heard. We need to enjoy life with all our financial capabilities, meaning we don't just live to invest. Obviously the investment is important, but anyone can get out of that long term goal and enjoy the benefits. So selling bitcoins is fine, I also do it when needed. And you are right, you only live once.

[AicecreaME]

Well if you know how to hold Bitcoin in time of crisis as well, then why not. Instead of fiat I really prefer storing my fiat in Bitcoin, not my fiat in the bank. But of course I'm not expecting any profits all of time in Bitcoin so having a couple source of income is the best thing to do to fight inflation as well. Bitcoin for me is just the last resort if I really need some extra cash just in case of some emergency comes.

[Ndabagi01]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

The recent events in Turkey and Syria, which resulted in many people losing their lives and properties, including infrastructures that aid people's money, are a call for a decentralized financial system. Even if you do not save the majority of your money in cryptocurrency, you can save about half of it there. This can be in the form of stable coins like USDT if you are concerned about losing funds due to market volatility.

Having another means of saving that is accessible at any time should be prioritized by all in order to be able to deal with such crises in the future. May God help those affected by this crisis to recover, to have a better aid and means of good living again.

[panganib999]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.
Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Now imagine your wallet was at home on the first floor of a 15 stories high collapsed building! 
Please do tell me how you would react if all your coins would be there or on a laptop that has been crashed by the rubble while the building collapsed.
Can we stop for a moment taking advantage of every tragedy to pump up bitcoin, just a thought, nothing special, you know, maybe not using the death fo 30 000 people and counting for personal gains and ego.

Agreed. Not to sound like a pessimist or what but it just sucks that oftentimes people leverage unfortunate events like these to insinuate anything crypto-related for their own gain. Maybe let the people grieve? Nevermind it being bitcoin-related or whatever, just the fact that lives are lost and properties are damaged, and these people sees opportunities to turn it into some upsell for crypto doesn't sit right with me. Although I get it, some will inevitable turn to bitcoin for things like these but it doesn't warrant bitcoin supporters to force their toxic ideologies over those who suffered.

On the bright side, I do see the opportunities that bitcoin could offer during untimely crises like these. But I doubt that will be the first of your concern especially when blood is shed and more than your savings are in jeopardy. Oh well, I hope I didn't sound so cynical.

[Rigon]

Since you're saying Bitcoin become your banks, it means you're saying you hold your Bitcoin in your hardware wallet. As we know someone will leave their hardware wallet and the seed phrase in the most safest place, also it's need to be hidden and secret. Now explain to me how you can able to get your hardware wallet or seed phrase when the earthquake destroy your house?

I mean to answer your question earthquake is a natural disaster. No one can say exactly when it will happen. We know that using hardware wallets is very secure. But if your hardware wallet is destroyed in an earthquake, it will be very difficult to recover your seed fraction. A medium you can use to easily recover your hardware wallet seed phrase is to Gmail Google Docs. If you can keep google docs, you will get your hardware wallet seed phrase only when you login to your Gmail on another phone.

[Iroh]

The only advantage of holding bitcoin in times of crisis that comes to mind is the ease and convenience of holding your funds. You could conveniently move with your funds from place to place. Much easier and safer than moving about with huge amounts of cash.
In times of any crisis, undeniably fiat is the most preferred means of any transaction so it’s also good to have a lot of that.
In my opinion, the only advantage I can think of is the ease and convenience you have to move with it and send funds to family and loved ones.

[jossiel]

That's true and we have saw on how good it was for many crisis. Not just with these incidents from Turkey and Syria, not just with Ukraine and Russia but also even with a pandemic.

Although it's not for everybody that sees volatility isn't an opportunity. But for us that sees it as an opportunity is looking forward that it's one of the greatest asset that we can ever have.

Not just increasing in value overtime but also its characteristic as a deflationary asset is one we can bank on.

Agreed, not just the market fluctuation. Bitcoin being deflationary makes it best against the traditional fiat. The usage of bitcoin helps in all situations and we need to make use of the characteristics than just staying idle out of fear and with the mind that doesn't take risk.

Bitcoin have helped people all over the world at different circumstances through its growth as well as the volatile market that lets people earn something out of the difference between buying and selling unlike the market trend of bitcoin.

Aside from helping those transfers where it will take for quite some time before the receiver receives it. There goes the few minutes of waiting time until the transaction is confirmed and arrives to the receiver.

And then, being an investment, this is what bitcoin truly helped a lot of us. We sold it when it's quite high and then we still buy it whenever it goes down. That's how it goes on this market and all the advantage of it isn't a secret.

It's volatility makes everyone enjoy the ride and someone who's too afraid from it will miss those greener days if they depend on their fear.

[nimogsm]

If we talk about the situation that happened in Turkey, the bitcoin vault could also suffer like everything else, unless a copy with all passwords and keys happens to be in your pocket.For a crisis or other situation, it is always possible to get savings both in cash and in cryptocurrency and access to which can be obtained not only from one device.

[_BlackStar]

The only advantage of holding bitcoin in times of crisis that comes to mind is the ease and convenience of holding your funds. You could conveniently move with your funds from place to place. Much easier and safer than moving about with huge amounts of cash.

Even without the crisis, bitcoin holders also have this facility from bitcoin, so I don't totally agree with you.
I thought of something more reasonable, holding bitcoins during inflation is the best alternative for a store of value. The price of bitcoin which fluctuates all the time allows its holder to profit in the long term, while the value of fiat currency continues to fall. But there is always a risk that must be considered because not everyone can afford to take loss when the market turn down.

I also think about the possible short-term profits that holders or traders can get. The need for more money in times of inflation makes them look for alternatives to make money, they trade or maybe invest to make profit. Bitcoin has more traction on its value than its innovation.

[Jody.Drummer]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.
Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Now imagine your wallet was at home on the first floor of a 15 stories high collapsed building! 
Please do tell me how you would react if all your coins would be there or on a laptop that has been crashed by the rubble while the building collapsed.
Can we stop for a moment taking advantage of every tragedy to pump up bitcoin, just a thought, nothing special, you know, maybe not using the death fo 30 000 people and counting for personal gains and ego.

I agree with this. Even if indeed we are in bitcoin but don't have to use all means to make this a profit. At least don't take advantage of humanity or tragedies like this to pump up and convince ourselves about bitcoin. At least we have to be conscientious to put it aside first and not just focus on bitcoin in every condition.
Even though we really like bitcoin, not everything has to be associated with bitcoin, including conditions like what happened in Turkey and Syria, I think this is clearly a bit outrageous.

[Oilacris]

If we talk about the situation that happened in Turkey, the bitcoin vault could also suffer like everything else, unless a copy with all passwords and keys happens to be in your pocket.For a crisis or other situation, it is always possible to get savings both in cash and in cryptocurrency and access to which can be obtained not only from one device.

We arent that dumb on not to know about those circumstances or probabilities which we know that it couldn't really still wiped out that kind of risk even with just keeping your private keys whether it would be written on a piece of paper or would really be holding up some ledger/nano wallet.

On times of crisis specially at wars then you cant really assure the safety on having no losing it.It is really that very situational but somewhat it is really true that it does have that advantages over
on handling fiat but i do agree on the fact that it would be better on having both most of the time yet considering  that Bitcoins or crypto isnt really that accepted
everywhere or anywhere.

[danadc]

The advantage is evident, in countries with crises it is the best advantage you have, in the country where I am from the one that has bitcoin things can be made easier because if they have inflation it is the perfect mechanism to endure, I don't see any other better option What happens is that most people do not believe much in bitcoin and believe that they are going to steal it because having the money digitally is not very reliable for them. When you have this type of uncertainty, you need someone to talk to you about bitcoin and its scope.

[nimogsm]

If we talk about the situation that happened in Turkey, the bitcoin vault could also suffer like everything else, unless a copy with all passwords and keys happens to be in your pocket.For a crisis or other situation, it is always possible to get savings both in cash and in cryptocurrency and access to which can be obtained not only from one device.

We arent that dumb on not to know about those circumstances or probabilities which we know that it couldn't really still wiped out that kind of risk even with just keeping your private keys whether it would be written on a piece of paper or would really be holding up some ledger/nano wallet.

On times of crisis specially at wars then you cant really assure the safety on having no losing it.It is really that very situational but somewhat it is really true that it does have that advantages over
on handling fiat but i do agree on the fact that it would be better on having both most of the time yet considering  that Bitcoins or crypto isnt really that accepted
everywhere or anywhere.

On February 24 last year, I woke up to explosions that were heard in my city. And the first thing I did was turn on my PC and make sure that I have a reserve of all the records that are needed on the flash drive if I'm going to be evacuated from the city.I also gave the backup information to my relatives who live in another country, just in case.Now the reserves of cash and food are already like a habit, and while there is an opportunity, I continue to accumulate savings in cryptocurrency.

[lionheart78]

Agree with the OP, in this digital age we are living in, we can't leave things to chance...

We need to have contingency plans to avoid being stranded should a crisis come, like is the case with turkey & syria..

and fortunately, cryptocurrencies are the answer to all this which should be an eye opener to all, just unfortunate it had to happen in a way that disrupts people's lives.

How can be the cryptocurrency to be the answer to all if you are living in a country where cryptocurrency is banned?  I am sure people who are living in a country where cryptocurrency is ban don't have any choice but to avoid holding it because they will be charge of something illegal if they are caught holding the forbidden thing.

I think holding cryptocurrency is good for those who are living in a crypto-friendly country but not in the hostile one.  I believe the advantage of holding Bitcoin is dependent on how the person's country react about Bitcoin.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

In such a scenario, bitcoin isn't a bad choice, the only downside of it is that your financial position isn't really protected from volatility and times of a bearish market but still remains a better option than keeping money in fiat which becomes inaccessible when infrastructure is destroyed by nature etc.

Isn't cryptocurrency on a wallet can't be accessible if your password and private key are destroyed by nature?

[Botnake]

There are advantages, but in order to hold Bitcoin during times of crisis one is supposed to be able to circumvent some of the impacts of the crisis, otherwise if the crisis affects us personally, we could face a problem and then be forced to sell or ask for a loan, using our satoshis as collateral.

It is about priorities.

I think if you're in a country with high inflation and a tendency to use banks to rob the people, Bitcoin is a floatation device in a sea of horrific financial conditions.  I couldn't imagine living in a country with 100%+ inflation.  It's hard enough in the US with inflation where it is.  

Well, here in my country we had one year when we reached an annual inflation of 4500%, so you do not have to imagine, you can just ask me whenever you feel like reading a horror story.  

Bitcoin has clearly more advantages especially hodling it in times of inflation. Not only it will be a hedge against inflation, but knowing crypto can’t be manipulated by the government just like what they did to fiat, then it will be one good thing to beat inflation. But I guess hodling both fiat and bitcoin are way much better in order not to be completely affected with the high rising inflation.

[Iroh]

I also think about the possible short-term profits that holders or traders can get. The need for more money in times of inflation makes them look for alternatives to make money, they trade or maybe invest to make profit. Bitcoin has more traction on its value than its innovation.

Yes,, there is the possible short term profits and there is also times of inflation where bitcoin has proved useful.
I was actually thinking of the scenario the OP used. The natural disaster that has occurred in both Turkey and Syria is massive and devastating. I had thought the easy and safe mobility of your funds would be better worth bitcoin. Also, you could easily send and receive aid from anyone, anywhere. I guess bitcoin has its uses, advantages and for a number of crisis.

[Fivestar4everMVP]

I believe the world is seeing and hearing all that is happening in Nigeria right now with the new cashless society the government of Nigeria, together with the central bank of the country, have pushed all the citizens of the country into, right now, there is serious hunger and hardship in the country, there is a high scarcity of physical notes in the entire country and several business owners have blatantly refused to adopt to the new system of payment which is by transferring money through the internet of paying with a point of sale machine.
For me, this is the best time in my life, many have lost access to their money on their various banks, but I currently have full access to all my money because I stopped saving my money with the banks few years after discovering bitcoin and cryptocurrencies, today, I can boost that my money is securely held in bitcoin, and some other major and promising altcoins, it is time all should come to the knowledge of cryptocurrencies, and begin to safe in bitcoin and some other crypto, stop saving in fiat in the banks.

[Hispo]

But I guess hodling both fiat and bitcoin are way much better in order not to be completely affected with the high rising inflation.

Actually, the whole point of holding Bitcoin while living in a highly inflationary economy is not having FIAT at all, so one won't lose money to the increasing inflation.
Holding both FIAt and Bitcoin can be applied to countries with relatively small inflation like USA or Europe, but if we talk about Argentina or Venezuela, it is a different story.

Also, I believe you meant "volatility" instead "inflation" there at the end of that phrase?

[jerry0]

Where do those people hold their coins when moving around?

[Minecache]

But I guess hodling both fiat and bitcoin are way much better in order not to be completely affected with the high rising inflation.

Actually, the whole point of holding Bitcoin while living in a highly inflationary economy is not having FIAT at all, so one won't lose money to the increasing inflation.
Holding both FIAt and Bitcoin can be applied to countries with relatively small inflation like USA or Europe, but if we talk about Argentina or Venezuela, it is a different story.

Also, I believe you meant "volatility" instead "inflation" there at the end of that phrase?

This is true, I think holding bitcoin during the inflationary period depends on the level of inflation in your country. If it is a country with record high inflation like Venezuela or Zimbabwe...then it is clear that holding bitcoins is much better than fiat money. But if you are living in inflationary countries like the US or countries with 5-7% inflation, holding bitcoins in times of crisis is no more productive than fiat. Bitcoin has lost 70% of its value during the 2022 crisis, while the inflation of fiat currency is only 7%, it is clear that fiat is still safer.

[ethereumhunter]

Before the crisis came around the world, people could use bitcoin to store their money instead of keeping it in the bank and control and control our money. And when we can't access our account to withdraw money at the bank, we can use bitcoin to be exchanged for fiat and use it to help survive.

But if our country doesn't allow crypto, we certainly can't use crypto and still survive on fiat, even if that means we must go through many difficulties before we can hold the fiat. And lucky for us who can use crypto freely because we can still prepare ourselves before a crisis comes in our country so that we can use fiat and crypto to support each other to survive.

[rat03gopoh]

If it is a country with record high inflation like Venezuela or Zimbabwe...then it is clear that holding bitcoins is much better than fiat money.

It was an internal crisis specifically due to some turmoil, I'd suggest otherwise with preference that their crisis is likely to be longer and won't follow the pattern of global economic recovery. In this kind of condition, I think people need more money today, not savings for the next few years. Use bitcoin for main income and daily needs spending instead of their onw fiat.

[Iranus]

I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

I like your opinion. Some people elevate Bitcoin to the level of a religion, regularly glorifying and chanting about it. But for me, there will be no problem if bitcoin is exchanged for fiat, if necessary. In fact, I am very surprised at those who are persistently trying to convince everyone that bitcoin is only an investment and that it is necessary to hold it to the final high point.
It looks like insanity. It is very doubtful for me to live my life, saving on everything, and hoping for a bright day. Some do not understand that people are mortal and have only one life.

After all, bitcoin is just money, and Satoshi created it to serve us, not for us to worship it. I'm not against people persuading each other to hold on as long as possible because their goal is also to make the most profit. But when we need to use them, we should not hesitate to sell them, and should not hold bitcoins while we are in trouble. Investing is to give yourself a better life, not to make yourself miserable. Bitcoin is just an ordinary asset, as long as we have health and earn money, it is too easy to buy.

[worle1bm]

If I'm not mistaken, bitcoin has proven itself to be a good hold in countries like Zimbabwe hyperinflation problem which started decades ago and shown again in 2018. So yeah, I would tend to agree in which people may have live to a country wherein it's money is not doing good, it's being to hedge your wealth in bitcoin and see how it goes at least in the next 4 years. So it's one way to preserve once capital, and so you relieved yourself of the pressures and on the contrary you might be looking to grow your money at the same time investing on BTC.

Bitcoin could be of great help in countries where inflation is high and people have poor standard of living as it acts as saving for them when fiat is not helping them a lot.They can survive tough conditions with the money they will get by selling the coins or say if acceptable making direct payments to the merchants.There has been lot of cases where people from third world countries have benefitted from usage of btc.

[Negotiation]

Inflation is generally dragging down the economy of every country and the standard of living is becoming difficult. This time bitcoin investment is good decision as it increases money and copes with the crisis and if the economy continues to grow slowly, bitcoin investments can increase the amount of money. Traders also maintain their opinion in various activities and can increase the amount by working at their own convenience. Bitcoin investment is more profitable than other currencies and therefore is supported by many countries around the world.

[Cryptmuster]

Bitcoin could be of great help in countries where inflation is high and people have poor standard of living as it acts as saving for them when fiat is not helping them a lot.They can survive tough conditions with the money they will get by selling the coins or say if acceptable making direct payments to the merchants.There has been lot of cases where people from third world countries have benefitted from usage of btc.

Unfortunately, in countries with a very low standard of living, people very often do not have the opportunity to worry that inflation will eat into their savings, because they barely have enough money to survive. But if we are talking in general about investing in bitcoin during a crisis, then yes it is a great tool, especially now that the price is at such a low level, and it will not only be a good way to keep our money from inflation, but it can also be excellent investment.

[krishnapramod]

Simply put, Bitcoin would do nothing good with inflation. You have the gold standard from the 1900s, and the hedgers. If everyone is holding, where's the transactional value? The purpose was lost.

[Henrobakkara]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Let's be realistic if you still need the banks just as a Junction or bus stop where our money can just pass through to carry out a transaction, then you still need the banks. Yes Bitcoin for me is still the best store of value and a better financial system cos it is decentralized but when you still cannot spend it on what you want when you want is still a downside.

As you should know, Nigeria is going through a serious financial crunch right now cos the Government decided to redesign the higher denominations of their currency and to a limited amount as well because they intend to go more cashless and this has thrown the country into riots in the past few weeks because of cash shortage and even with the agreeable highly level of cryptocurrency "Bitcoin" adoption by the population within the urban areas were these riots are even happening the most.

So I would say, it is not about whether you hodl Bitcoin but how easily can you spend it on your needs when you have to or during these crises without needing the Banks for that is the concern.

[yazher]

I see this scenario after Afghanistan has taken back by the Taliban and people went to panic and the banks were closed which is you don't have access to your money what if all you have is in the banks? you don't have some cash to spend on your essential needs?

That's why it is really recommended to have extra bitcoins for this kind of scenario or anything like it because, with bitcoins, you will be able to move or escape without them even knowing there's a bag of cash in your head. You have the means to get it whenever you like.

[Ziskinberg]

I see this scenario after Afghanistan has taken back by the Taliban and people went to panic and the banks were closed which is you don't have access to your money what if all you have is in the banks? you don't have some cash to spend on your essential needs?

That's why it is really recommended to have extra bitcoins for this kind of scenario or anything like it because, with bitcoins, you will be able to move or escape without them even knowing there's a bag of cash in your head. You have the means to get it whenever you like.

Most of us neglect to anticipate such things because we believe that banks are the last option for where to keep our money. We just realized the importance of having another option like the use of Bitcoin when a crisis comes. I think it was time to open our eyes and look for the benefits that we may get from crypto. Generally, it was an opportunity given to us. Trust seems a big problem for the majority but I think we need to embrace the value of new technology like the existence of Bitcoin for this is the solution to something that we never see before.

[Macadonian]

BTC has its advantages but also disadvantages when holding in in crisis. I think I would prefer to use BTC for holding my wealth that I do not plan on touching or withdrawing and to beat inflation but I think I would prefer to have emergency funds in fiat because it is currently easier to pay for items with fiat. If you get hit by a earthquake and you want to recover most of the local services which can help will be accepting fiat and not BTC

[Davidvictorson]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

I agree, the global economy is in a mess right now, and the nations that suffer the most are those with developing economies. They are besotted on all sides with hunger, starvation, and whatnot. While I concur with your assertion, I would point out that bitcoin is one of the best alternatives to saving your money. In other words, Bitcoin is the messiah but not the only messiah. We have real estate, precious metals, and others. Not everyone will save their money in bitcoin, even if it is the last option on earth.

[wahyuagung26]

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that. 

There are many advantages when we hold Bitcoin, one of which is during a crisis, I'm sure this will be very helpful when we are all able to fully hold Bitcoin, the future will not be as long as we expect and at this time it is certainly one of the advantages which is good when Bitcoin is a fully owned holding Asset. in a situation like this, of course people will use it when the cash they have is inadequate for their needs.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

In terms of stating an alternative, of course it will be able to cover all matters relating to both personal and family needs, but at certain times Bitcoin will be very petrified to be a very good alternative under any circumstances, especially in a state of crisis which can help make an alternative when we made a payment and didn't have cash to be precise although this method is not applicable everywhere, but I think they can exchange it to the original currency.

[crwth]

BTC has its advantages but also disadvantages when holding in in crisis. I think I would prefer to use BTC for holding my wealth that I do not plan on touching or withdrawing and to beat inflation but I think I would prefer to have emergency funds in fiat because it is currently easier to pay for items with fiat. If you get hit by a earthquake and you want to recover most of the local services which can help will be accepting fiat and not BTC

It's definitely understandable that people would prefer fiat when in crisis. Not a lot of people yet are still into BTC. But remember, once everyone starts to really HODL and make it their preferred currency, that could definitely change things up a bit and maybe they would want BTC instead of fiat. Human nature, I believe still wants something tangible, but I hope it's not for everyone though.

[Ptb73]

Of course, bitcoin is one of the best ways to escape from the crisis. The more bitcoins I have in my ownr wallet, the safer I feel. I like that only I control all my funds myself.

[Silberman]

BTC has its advantages but also disadvantages when holding in in crisis. I think I would prefer to use BTC for holding my wealth that I do not plan on touching or withdrawing and to beat inflation but I think I would prefer to have emergency funds in fiat because it is currently easier to pay for items with fiat. If you get hit by a earthquake and you want to recover most of the local services which can help will be accepting fiat and not BTC

It's definitely understandable that people would prefer fiat when in crisis. Not a lot of people yet are still into BTC. But remember, once everyone starts to really HODL and make it their preferred currency, that could definitely change things up a bit and maybe they would want BTC instead of fiat. Human nature, I believe still wants something tangible, but I hope it's not for everyone though.

In times of crisis people do what they have always done as at the time they are not thinking and they are just following their survival instincts, an example of this is when there is an economic crisis and many investors move their money to US bonds or to the US dollar, but what will happen when it is the US economy and the dollar itself creating the problems? Either those people adapt to this new reality or they are going to get destroyed, and during such crisis the best you can do is to move your wealth to hard assets.

[Odusko]

Bitcoin has become the best alternative to bank and right time, we have seen how Bitcoin have to fill the vacuum left by traditional banks, but that notwithstanding we will need to know the area where Bitcoin can play a vital role in our financial life and to know the risk of self custody because in several cases one can lose access to their wallet or the seed phrase. After all, it's not what someone can carry off the heart.
So in a time of crisis, it may become impossible for a bitcoin holder to have access to their Bitcoin or the wallet phrased.

[samcoin]

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

I strongly agree with you, the current financial situation some countries are suffering would push people to search for a more controllable money-storing methods like crypto currencies, which will increase the adoption and usage of crypto. In our neighbor country, Lebanon, bank depositors have lost billions of dollars due to false money management policies and  rampant corruption of the politicians. Now, cryptocurrencies are a widespread thing over there, especially stable coins like USDT. They could have saved their money in a better way if they had moved to crypto at an earlier time. Although Bitcoin is 1/3 of ATH, the Lebanese Lira has lost 90% of its value against the Dollar. This's not the only case in the world as there're a lot of similar cases, which proves that cryptocurrencies have the capability of saving people' money.

[Mr. Magkaisa]

    -    Bitcoin is good for long term investment, in this matter it is already proven and tested. Now, when it comes to daily earnings Bitcoin trading is also good if your capital is at least 100$.

Because in my experience with that amount it is possible to earn 5-10$ a day in trading activity even in the market situation it can be even higher than that. In addition to the bitcoin I accumulate every week.

[Don Pedro Dinero]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

The problem is that nowadays, especially if you have large amounts, you have no way of spending them other than going through centralised entities.

BTC has its advantages but also disadvantages when holding in in crisis. I think I would prefer to use BTC for holding my wealth that I do not plan on touching or withdrawing and to beat inflation but I think I would prefer to have emergency funds in fiat because it is currently easier to pay for items with fiat. If you get hit by a earthquake and you want to recover most of the local services which can help will be accepting fiat and not BTC

It's definitely understandable that people would prefer fiat when in crisis. Not a lot of people yet are still into BTC.

I think the same as Macadonian. Bitcoin as a form of savings is fine, but because it's not widespread enough nowadays, you don't have as many opportunities to spend it directly and to do so you have to go through centralised entities. That's why it makes sense to have part of your savings in cash and bitcoin as a long-term saving or investment. Over time bitcoin will appreciate in value and it will also become more widespread and there will be more opportunities to spend it directly. Hopefully more countries will declare it legal tender and you will be able to travel there or even move and spend it like you spend your fiat today.

[Obari]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Bitcoin is digital currency which in other words can be called electronic money and mostly treated as an asset rather than an alternative to Fiat.
No matter how much Bitcoin you have, I'm very certain that you can't spend it(Bitcoin) without having to convert it to the regular Fiat accepted in your country except in few countries where it is accepted as a legal tender.

My country is going through a very huge financial crisis and I have Bitcoin, but yet it doesn't make any difference as both those that have Bitcoin and those that don't have are all going through same Fiat scarcity because I still have to convert my Bitcoin to Fiat before having to spend it.
I just want to express that Bitcoin isn't an alternative to Fiat in my local community.

[stadus]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Bitcoin is digital currency which in other words can be called electronic money and mostly treated as an asset rather than an alternative to Fiat.
No matter how much Bitcoin you have, I'm very certain that you can't spend it(Bitcoin) without having to convert it to the regular Fiat accepted in your country except in few countries where it is accepted as a legal tender.

My country is going through a very huge financial crisis and I have Bitcoin, but yet it doesn't make any difference as both those that have Bitcoin and those that don't have are all going through same Fiat scarcity because I still have to convert my Bitcoin to Fiat before having to spend it.
I just want to express that Bitcoin isn't an alternative to Fiat in my local community.

In your case, your absolute choice is to convert them into fiat money as you will never enjoy spending, other than converting them. It was sad but we can't do against the authorities, living with Bitcoin in your country have no sense in times of crisis.
Though I was happy that my country is legalizing the use of crypto. Yet, it was very unfortunate that only a few merchants or establishments are accepting this. It means that we still have no other option but to still convert them into our local currency...and the scenario is almost the same in your place.

[fuguebtc]

    -    Bitcoin is good for long term investment, in this matter it is already proven and tested. Now, when it comes to daily earnings Bitcoin trading is also good if your capital is at least 100$.

Because in my experience with that amount it is possible to earn 5-10$ a day in trading activity even in the market situation it can be even higher than that. In addition to the bitcoin I accumulate every week.

With 100$ capital, and you say you can make 5-10$ per day trading bitcoin, that means you earn 10% profit per day I don't believe what you are saying. You should keep in mind that bitcoin trading is very risky, and I have not seen anyone who can make a steady profit as you are imagining. If it becomes so easy to profit from bitcoin, then I believe not many people are losing money in the market. What the market is showing us, trading causes more losses than profits.

[TheGreatPython]

Unfortunately, in countries with a very low standard of living, people very often do not have the opportunity to worry that inflation will eat into their savings, because they barely have enough money to survive. But if we are talking in general about investing in bitcoin during a crisis, then yes it is a great tool, especially now that the price is at such a low level, and it will not only be a good way to keep our money from inflation, but it can also be excellent investment.

Well, inflation, regardless of the standard of living, does affect every individual who has a family to feed. Even if a person doesn't have any savings, but they do need to spend money on a daily basis to buy things to eat and stay alive, and inflation affects that greatly since such people don't earn enough. And, in countries where living of standard is low, companies or employers don't pay higher no matter how hard inflation hits the country. So things like grocery, vegetables etc. become expensive while flow of money becomes less, thus that creates problems for everyone.

Bitcoin on the other side, can surely save the investments from inflation but unfortunately it only works for the rich to save their money from devaluation while the poor suffers in hard times of crisis.

[danadc]

    -    Bitcoin is good for long term investment, in this matter it is already proven and tested. Now, when it comes to daily earnings Bitcoin trading is also good if your capital is at least 100$.

Because in my experience with that amount it is possible to earn 5-10$ a day in trading activity even in the market situation it can be even higher than that. In addition to the bitcoin I accumulate every week.

With 100$ capital, and you say you can make 5-10$ per day trading bitcoin, that means you earn 10% profit per day I don't believe what you are saying. You should keep in mind that bitcoin trading is very risky, and I have not seen anyone who can make a steady profit as you are imagining. If it becomes so easy to profit from bitcoin, then I believe not many people are losing money in the market. What the market is showing us, trading causes more losses than profits.

It would be nice if you could give details of how you do it, perhaps a screenshot and it silences us all, it is not impossible, but it is possible to establish a profit per day and it has to be very very profitable and that the person always wins with each operation because doing 10% is enough, I don't do the trading, because I don't know how to do it, I don't know how to analyze and start inventing I wouldn't do it because I lose my capital and my capital is not very big, but if you do it you should give us clues for us to learn.

[Desmong]

The price of Bitcoin usually falls during this time and some government officials used to look for ways to convert there fiat into cryptocurrency using this means to hold large numbers of Bitcoins so there current situation will not affect there large amount of Bitcoin they have in there portfolio. It more profitable to hold while or during the time of crisis since the price of Bitcoin cam increase on value during this time.

[tjtonmoy]

I don't think it would be any good for those who are suffering the crisis. They need help and they need money. So how holding could help them? Bitcoin most often considered to be a long-term investment asset. But if you are in such crisis, what can you do by just holding them? Take care of the present and then think about your future if you are in crisis. I hope those people who are suffering feels the same.
I think instead of holding/hodling, using could be a better suitable word for this scenario. If they don't have access to money and can't do anything with what they own, then Bitcoin use will come in handy. But considering the fact that it is not legalized all over the world, I doubt it would be any help either.

[suzanne5223]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

There's no doubt about Bitcoin being the best alternative but people need to be well educated about securing their Bitcoin from online theft and also prevent losing it. Do you know how many BTC holders that are in Turkey and Syria will lose their holdings to the Earthquake?

There are many advantage to holding Bitcoin apart from what you have mentioned so let's just stick to what works for us. The current crisis between Russia and Ukraine had deprived many people of there right and acces to good food.

Just a question, does holding Bitcoin give them access to good food?  I wonder how can holding Bitcoin help these people in accessing good food?  Isn't it more convenient to them if they have cash to pay for their food?  As far as I know, there isn't much retail stores that accept Bitcoin as payment, and there are still many suppliers that are not into Bitcoin.  So I wonder, what change does it gives holding Bitcoin against holding cash in hand?

You have a point cause some people seem not to understand that Bitcoin is not the answer to every crisis or financial issue. However, I think you got him all wrong because he seems to be talking about the donation given to the Ukrainians which literally serves as a means of the people getting food.

[romero121]

Bitcoin market have begun to have closer connection with the traditional market. This means, cryptomarket have begun to coexist with traditional banks and other forms of financial services. This have made bitcoin and other cryptocurrencies have dependence over the traditional market. At time the cryptomarket too moves on the bullish side when the traditional market is good and drops down when the market is not in a better position. During the time of crisis people will be in need for money and by that time patience won't give hands, so it depends on how the market at that time. We can't be calculative whether the market is advantageous or not.

[jokers10]

Bitcoin market have begun to have closer connection with the traditional market. This means, cryptomarket have begun to coexist with traditional banks and other forms of financial services. This have made bitcoin and other cryptocurrencies have dependence over the traditional market. At time the cryptomarket too moves on the bullish side when the traditional market is good and drops down when the market is not in a better position. During the time of crisis people will be in need for money and by that time patience won't give hands, so it depends on how the market at that time. We can't be calculative whether the market is advantageous or not.

This is a two way street: bitcoin is learning to coexist with a traditional economy and finance but they learn to coexist with bitcoin as well. It we expect that bitcoin will play a bigger role in the future we should understand that it will be tied to economy much tighter and right, but it will make it more stable as entire economy is not so volatile as some small sector of the economy. And holding bitcoin during crisis will become one on the most reasonable strategies in the future.

[Ojima-ojo]

The fact is before I pick bitcoin as an alternative and as an investment I took almost a year to study and build my knowledge in Bitcoin volatility, security and safety applications in bitcoin.

This knowledge have helped me to navigate my way to achieving my current status, and I must say that the first step in cryptocurrency is to build knowledge and motivation level.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your bank!

There's no doubt about Bitcoin being the best alternative but people need to be well educated about securing their Bitcoin from online theft and also prevent losing it. Do you know how many BTC holders that are in Turkey and Syria will lose their holdings to the Earthquake?

The Turkey and Syrians situation is quite saddening and we may not be able to measure the number of bitcoin losses at the moment,  but then anyone alive and with multiple private key storages will have a backup and access to their funds.

[Easteregg69]

The fact is before I pick bitcoin as an alternative and as an investment I took almost a year to study and build my knowledge in Bitcoin volatility, security and safety applications in bitcoin.

This knowledge have helped me to navigate my way to achieving my current status, and I must say that the first step in cryptocurrency is to build knowledge and motivation level.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your bank!

There's no doubt about Bitcoin being the best alternative but people need to be well educated about securing their Bitcoin from online theft and also prevent losing it. Do you know how many BTC holders that are in Turkey and Syria will lose their holdings to the Earthquake?

The Turkey and Syrians situation is quite saddening and we may not be able to measure the number of bitcoin losses at the moment,  but then anyone alive and with multiple private key storages will have a backup and access to their funds.

Personal messages signals admin or mods is online and hated more than ever!

Don't use PM!

[blockman]

The price of Bitcoin usually falls during this time and some government officials used to look for ways to convert there fiat into cryptocurrency using this means to hold large numbers of Bitcoins so there current situation will not affect there large amount of Bitcoin they have in there portfolio.

Do you have some proof to support this? From what I know, the majority of the officials from the government don't really like the concept of bitcoin because they don't know it. But those that have knowledge of it, have an idea of how they can take advantage of its characteristics and usage. But someone doesn't have to be specific as a government official, we can just simply convert our fiats into it if it's intended to be held and be part of a long term asset that will be converted into bitcoin.

It more profitable to hold while or during the time of crisis since the price of Bitcoin cam increase on value during this time.

At most times, holding is always being considered whether there's a crisis or none. But if you need to sell it and let go of it for the purpose of using it for you to be in a better position, that's what is intended to be used for.

[suzanne5223]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your bank!

There's no doubt about Bitcoin being the best alternative but people need to be well educated about securing their Bitcoin from online theft and also prevent losing it. Do you know how many BTC holders that are in Turkey and Syria will lose their holdings to the Earthquake?

The Turkey and Syrians situation is quite saddening and we may not be able to measure the number of bitcoin losses at the moment,  but then anyone alive and with multiple private key storages will have a backup and access to their funds.

Yes, the issue of the Turkey and Syria earthquake accident is heartbreaking and the number of losses is still increasing.
Having said that, not all the people that escape the earthquake accident in Turkey will have the privilege to recover their wallet private keys because most Bitcoin holders who keep their wallet private information offline does it through safety storage at their home, and with the earthquake that happened in Turkey, it will be hard to find the wallet information.

[JoyMarsha]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.

The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.

[Vaskiy]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.

The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.

Thats wrong perspective about war. If we were around the region or country where war is happening we'll understand what the real impact it had made over their living condition. Maybe there are justification, but this isn't the reality with every country continuing the war.

Just think of the recent earthquake, everything collapsed and what is left with the people is nothing. Once again from the very scratch they need to build. Bitcoin can be used as safe haven, but how it helps at our critical situation is a question. It all depends on our luck.

[jokers10]

...
Bitcoin can be used as safe haven, but how it helps at our critical situation is a question. It all depends on our luck.

If it's not an entire global crisis then decentralized transboundary asset like bitcoin can give an opportunity to get paid help from abroad when you have problems in your country as not all the countries in the world face up with the same problem at the same time. So it is a global asset representing part of global economy. And unlike any national currency is not under a pressure of probable regulation that could prevent using it at a crisis time.

[Kakmakr]

Yes, Bitcoin can be an alternative payment option when other traditional payment systems fail, but it also needs access to electricity and the Internet... things that are not currently available in many countries.

Also, when the global economy take a massive hit, Bitcoin is seen by some as a Store of Value, but I disagree with many of them. The reason is simply, if the global economy is struggling, people shift more of their money towards "survival" and not towards risky investment options like Bitcoin. 

[bitterguy28]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

if you are completely assured that you will never need that money for long term ? meaning till the crisis ends? then of course you can trust bitcoin as a place where you can confidently save the money as investments also.

but if time comes that there is emergency need for that fund and the market drops badly , then you will be facing trouble though.

[Peter Russell]

Inflation and financial crises have indeed been major concerns for many countries worldwide. Some of the reasons for these crises include political instability, natural disasters, and economic mismanagement. As a result, people have been forced to look for alternative ways to save their money and protect their assets.

Bitcoin is one of the alternative ways that some people have turned to. It is a decentralized digital currency operating on a blockchain, a public ledger that records all transactions. Bitcoin is not controlled by any central authority, meaning individuals can have greater control over their money and transactions.

However, it is important to note that Bitcoin is a highly volatile asset whose value can fluctuate widely over short periods. It also carries certain risks, such as the possibility of losing access to your Bitcoin wallet if you lose your private key or if the exchange you use is hacked. Additionally, Bitcoin is not yet widely accepted as a means of payment, and its use is still limited in many countries.

Therefore, it is important to do your research and understand the risks involved before investing in Bitcoin or any other alternative asset. Diversifying your investments and not relying solely on one asset or currency is also important. It may be wise to consult with a financial advisor to determine the best course of action for your individual situation.

[Cryptmuster]

If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.

The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.

It all depends on the situation you are in. In a critical situation, you will need cash, and despite the war or major cataclysms, the banking system will most likely cope, since the affected party will have the financial backing of other countries. But this will not save your savings from inflation, since most likely during these periods it will be very significant. Bitcoin is good, but since you are responsible for its safety, it is also a big responsibility...

[Mauser]

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

I fully agree with you, it makes no sense at all at the moment to save money in my country. Just yesterday I received an email from my bank that the increased the interest rate on my savings account to 0.6%, which is insane compared to the 8-10% inflation we have now for more than a year. You are losing at least 7-8% value each year for all the money that is not invested. Even for some high risk bonds where the repayment is not guaranteed the interest rate is only around 5%. In real terms you are losing money if you don't invest in stocks or bonds. That is why I kept buying more bitcoins every month for the last 12 months with the money that I would usually put in the savings account.        

[AnonBitCoiner]

There is risky situations in cryptocurrency, investment in cryptocurrency is not a bad idea it can enhance your business but the main risky thing is to save all your money in crypto because you don't know that what will happen next to this token.

Yes this is a fact that bitcoin is greater opportunity to make money because as compared to the other coins the bitcoin is good option and enhance in price rather than reducing. Although the price of each and every coin decreases as the market fluctuates but the bitcoin does not goes as low to become a lowest of the token.

The cryptocurrency reduces in price it does not necessarily intended to the fact that its buying will become favorable because they must goes up as well as in dip so opportunity not always a sign of benefit.

[justdimin]

If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.

The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.

Thats wrong perspective about war. If we were around the region or country where war is happening we'll understand what the real impact it had made over their living condition. Maybe there are justification, but this isn't the reality with every country continuing the war.

Just think of the recent earthquake, everything collapsed and what is left with the people is nothing. Once again from the very scratch they need to build. Bitcoin can be used as safe haven, but how it helps at our critical situation is a question. It all depends on our luck.

It is good for both rebuilding your life again, because you invested and made some profits, but it is good for donations as well, people all around the world helped Ukraine during war and now Turkey and Syria with their earthquake as well, in tune of millions of dollars.

I remember reading about Ukrainians who fled the nation during the war, would have hard time passing through the borders with valuables, and that is why they put all their money into bitcoin and moved anywhere they want and then they ended up with cashing it out, this way they wouldn't be carrying anything at all, it wouldn't be an issue to "carry" it because it's basically online or at most a usb ledger nano that's it.

[kelechi]

In these moments I wish I knew about crypto earliet

[Questat]

I fully agree with you, it makes no sense at all at the moment to save money in my country. Just yesterday I received an email from my bank that the increased the interest rate on my savings account to 0.6%, which is insane compared to the 8-10% inflation we have now for more than a year. You are losing at least 7-8% value each year for all the money that is not invested. Even for some high risk bonds where the repayment is not guaranteed the interest rate is only around 5%. In real terms you are losing money if you don't invest in stocks or bonds. That is why I kept buying more bitcoins every month for the last 12 months with the money that I would usually put in the savings account.        

With a small interest rate on our money while they are benefiting more from us this will lead to me decided not to deposit to them but rather use it for investment. With the huge inflation rate that we currently experience, it definitely no sense to have those rates. And the best option now is to invest in something that could give us more money even though we take high risk and responsibility. Like in investing Bitcoin could provide us a more satisfying return than the banks can do.

[xSkylarx]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

if you are completely assured that you will never need that money for long term ? meaning till the crisis ends? then of course you can trust bitcoin as a place where you can confidently save the money as investments also.

but if time comes that there is emergency need for that fund and the market drops badly , then you will be facing trouble though.

Unless he knows the risk, it doesn't matter to him if the market drops and he loses profit since he takes the risk and hopes that if he needs it, he has enough profit. There is nothing wrong with a bad market as long as the holder understands it. This won't be called savings; we call it an investment, as we are looking to have profit in the future, but it has a double purpose as we can still use it for emergencies.

[Ojima-ojo]

In these moments I wish I knew about crypto's earliest

You can still consider yourself early because this great financial tool calls Bitcoin here to stay and just a decade ago its development was launched, so at that, we can still say we are early adopters and how we take the risk now will determine what the future holds tomorrow.

The most appropriate thing to do right now is to concentrate on building skills related to Bitcoin and digital assets, even though your attention should be on Bitcoin alone.

Don't get distracted by the so-called altcoins, because they are high assets.

[GideonGono]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Best alternative to keep your money I don't consider it as savings for me it is an investment.
And yes it is much better than leaving your money on Bank at least in crypto you have so many options on how to cash out your money.

[Captain Corporate]

I had the misfortune of having this type of situation at first, and I can't really begin to explain how much it helped to make it through this period. Between so many bad stuff and all those terrible stuff, we ended up being a bit more at risk than anything else. I have to deal with something that is a bit more dangerous if I didn't hold bitcoins. I know that its not going to be as simple as people think it is, but at the end of the day you have to grind during your good days, in order to have less problem on your bad days, that's how it should always been, force yourself on good days instead of spending silly, so you don't get worse during your bad days and turn them into alright days.

[jokers10]

In these moments I wish I knew about crypto earliet

Maybe you won't believe but you still know about crypto much earlier than majority. It is still the very early stage and you can still get lots of benefits if you know how to deal with that. Early stages are the most risky: of course you can win being among the first ones but you can lose even more easily. And as for holding bitcoin as a defensive asset you can start doing so now or even in the future as IMO it will work that way as long as we can see.

[Cookdata]

If I'm not mistaken, bitcoin has proven itself to be a good hold in countries like Zimbabwe hyperinflation problem which started decades ago and shown again in 2018. So yeah, I would tend to agree in which people may have live to a country wherein it's money is not doing good, it's being to hedge your wealth in bitcoin and see how it goes at least in the next 4 years. So it's one way to preserve once capital, and so you relieved yourself of the pressures and on the contrary you might be looking to grow your money at the same time investing on BTC.

Bitcoin could be of great help in countries where inflation is high and people have poor standard of living as it acts as saving for them when fiat is not helping them a lot.They can survive tough conditions with the money they will get by selling the coins or say if acceptable making direct payments to the merchants.There has been lot of cases where people from third world countries have benefitted from usage of btc.

Specifically, the smart one. Those who don't know when to buy and sell might purchase bitcoin and still be in hell due to inflation(2022 as an example). Without a question, bitcoin has been used as a protection against inflation, but not everyone is aware of how to use this resource effectively.

There are people who have been known in their journey with bitcoin with anxiety, they do not know when to buy, they have been caught many times at the top of all times high and proven to them that bitcoin is the best class anyone could use as a hedge against inflation is always difficult, they have brand bitcoin as a scam, funny enough they always come back when they hear another hype of bitcoin instead of them to buy lowkey when everyone is selling.

[Artem Sereda]

In these moments I wish I knew about crypto earliet

Maybe you won't believe but you still know about crypto much earlier than majority. It is still the very early stage and you can still get lots of benefits if you know how to deal with that. Early stages are the most risky: of course you can win being among the first ones but you can lose even more easily. And as for holding bitcoin as a defensive asset you can start doing so now or even in the future as IMO it will work that way as long as we can see.

I agree holding bitcoin during a crisis is a good idea, but i don't see how it will make the economy more stable, because everything about bitcoin is about volatility

[jokers10]

I agree holding bitcoin during a crisis is a good idea, but i don't see how it will make the economy more stable, because everything about bitcoin is about volatility

Why do you expect bitcoin should stabilize an economy?! Low expectations on that. Modern economy was built on a base of inflation, derivatives and fiat money, so bitcoin is not a part of this economy, it is an alternative and makes economy to adapt to it. So it has rather destabilizing effect on old economy, but if we need a new economy we should overcome an old one. It will not be fast and old economy will stay for really long, but elements of a future new economy are being implemented slowly right now. And bitcoin volatility will go down but it will not stabilize an old economy anyway. We are "stabilizing" our money for the time of a crisis, it is a different.

[Gyfts]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Bitcoin is not good for savings because of its volatility and if there’s a crisis, you can’t be so sure that cryptocurrency will be the safe haven, remember during the pandemic and the war? People are panicking and the cryptomarket is down as well.

Keeping your keys might also be your another problem, you have to make sure during the crisis you have this with you or else your wallet will be hacked or be wasted at all. I still see Bitcoin as a good investment for long term, I just don’t see this as a best option during crisis because usually, cash is still the best option.

Partially true but also consider that the value of all assets went down. Stocks, real estate, crypto, etc.

If your putting some of your net worth into crypto for the sake of long term savings, then it isn't particularly relevant if crypto has a bad single year. Unless you need to liquidate those crypto assets or spend it directly, then individual yearly performances don't matter -- you'll experience growth over many years.

When there's a crisis, nothing is safe. Applies to fiat currency too. But, you can mitigate crisis by diversifying your assets.

[btc78]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

If the whole wide world will see and understand that bitcoin is the best alternative way to save up their assets in times of war or difficult situations. I don't think there will be many financial hardships when war or financial crises arise in a country.

but we also knew how would war affect the system . and specially in our world now that if war happens? everything will be destroyed comparing to what happened in WW1-WW2 now? world will gone once we have WW3.

The current events occurring all over the world should be sufficient justification for many people to use bitcoin as a store of their assets, but due to how the media portrays bitcoin as a poor financial tool, people are continuing to be hesitant about it.

supporting this , Bitcoin is the only place where we can be assured of safeties but of course inside our OffLine wallets and be sure that we will keepit safe as well.

[bitterguy28]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

if you are completely assured that you will never need that money for long term ? meaning till the crisis ends? then of course you can trust bitcoin as a place where you can confidently save the money as investments also.

but if time comes that there is emergency need for that fund and the market drops badly , then you will be facing trouble though.

Unless he knows the risk, it doesn't matter to him if the market drops and he loses profit since he takes the risk and hopes that if he needs it, he has enough profit. There is nothing wrong with a bad market as long as the holder understands it. This won't be called savings; we call it an investment, as we are looking to have profit in the future, but it has a double purpose as we can still use it for emergencies.

if we are talking about the HOLDERS then there is nothing care about the price of market because there is no chance they will sell in low , holders keep looking for up and that will happen only once they are contented about the profit.
I as holder also? is not concern about the price now as if I can close my eyes about the recent price instead will look back again once there is greening market.

[Synchronice]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

While bitcoin gives you control over your savings, the problem is that it's very volatile and you have zero control and influence on price. If you bought bitcoin at 20K and it went down to 10K, your savings can rarely be called savings but a huge loss.
If we keep in mind that Gold is an important reserve asset and has been so historically, then I bet it would be best alternative way to save money because you'll be easily able to sell your gold jewelry for high price at any time. Also, a lot of countries are saving gold recently instead of USD, so I would stick with it.

[jokers10]

While bitcoin gives you control over your savings, the problem is that it's very volatile and you have zero control and influence on price. If you bought bitcoin at 20K and it went down to 10K, your savings can rarely be called savings but a huge loss.
If we keep in mind that Gold is an important reserve asset and has been so historically, then I bet it would be best alternative way to save money because you'll be easily able to sell your gold jewelry for high price at any time. Also, a lot of countries are saving gold recently instead of USD, so I would stick with it.

We all know that there were several times in history when government expropriated gold. And crisis time is most suitable for gov to take such decision. And if so it will be not so easy not only to exchange your gold but even to keep holding it. Each asset you try to use for savings have its own disadvantages. For instance if you'll be forced to flee from your home it will be harder to take your gold with you than to take several hidden words hiding your bitcoins. Of course it is not an ideal variant as well, but gold isn't too.

[Tony116]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

While bitcoin gives you control over your savings, the problem is that it's very volatile and you have zero control and influence on price. If you bought bitcoin at 20K and it went down to 10K, your savings can rarely be called savings but a huge loss.
If we keep in mind that Gold is an important reserve asset and has been so historically, then I bet it would be best alternative way to save money because you'll be easily able to sell your gold jewelry for high price at any time. Also, a lot of countries are saving gold recently instead of USD, so I would stick with it.

I agree with you that keeping all your savings in bitcoin is very risky because of the volatility, I wouldn't do that either. But on the other hand, gold also has some disadvantages, if you have a large amount of gold, it will also be difficult to move. Like in the war between Russia and Ukraine or the earthquake in Turkey, if your assets are all gold, you won't have enough time to transfer them all, but with bitcoin, you absolutely can. Both are good and have pros and cons. I also prefer gold savings because it is stable and not as volatile as bitcoin in the short term.

[Inwestour]

I agree with you that keeping all your savings in bitcoin is very risky because of the volatility, I wouldn't do that either. But on the other hand, gold also has some disadvantages, if you have a large amount of gold, it will also be difficult to move. Like in the war between Russia and Ukraine or the earthquake in Turkey, if your assets are all gold, you won't have enough time to transfer them all, but with bitcoin, you absolutely can. Both are good and have pros and cons. I also prefer gold savings because it is stable and not as volatile as bitcoin in the short term.

If we are talking about cataclysms, as it recently happened in Turkey, then with great destruction, the seed phrase and the hardware wallet may also be lost, there are always risks, this must be taken into account. Or you need to create several copies of the seed phrases and store them in different places to prevent such an outcome.

If we are talking about gold, then no one will keep a large amount of gold at home, it is not convenient and dangerous. If it is stored in a bank vault, then you have at least some guarantees from the bank, although I don’t believe in them either.

You are probably right that you don"t need to invest everything in one thing, diversification will help you sleep more peacefully.

[SquallLeonhart]

We all know that there were several times in history when government expropriated gold. And crisis time is most suitable for gov to take such decision. And if so it will be not so easy not only to exchange your gold but even to keep holding it. Each asset you try to use for savings have its own disadvantages. For instance if you'll be forced to flee from your home it will be harder to take your gold with you than to take several hidden words hiding your bitcoins. Of course it is not an ideal variant as well, but gold isn't too.

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

[tiCeR]

We all know that there were several times in history when government expropriated gold. And crisis time is most suitable for gov to take such decision. And if so it will be not so easy not only to exchange your gold but even to keep holding it. Each asset you try to use for savings have its own disadvantages. For instance if you'll be forced to flee from your home it will be harder to take your gold with you than to take several hidden words hiding your bitcoins. Of course it is not an ideal variant as well, but gold isn't too.

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

I think that Bitcoin is surely superior to any other asset class when it comes to crossing borders or being mobile in any way. If there is a harsh crisis in a country and you want to leave and arrive with two bags full of gold bars at the airport, I am pretty sure that would be going to end in a thorough investigation and perhaps even (temporary) confiscation in some countries. As you mentioned, when there is economic trouble in China, leaving the country with gold bars is going to very problematic. They won't let you go. They claim that it is for the good of the nation, but what they ultimately want to prevent is that assets are not drained from the economy, thereby further reducing any stimulus that is badly needed to get the economy going again. This is only the second part of their thought process. The first part is that a weak economy weakens such regimes and reduces their political power.

Whether Bitcoin is better than anything depends on a number of circumstances. I guess a woman in their 80s is better of with a gold bar than with a hardware wallet or a paper wallet.

[Ryker1]

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks. Besides as I saw this become an attractive option for some people because it is a decentralized, digital currency that is not subject to the same inflationary pressures as traditional fiat currencies --and the reason could be they can store and manage their bitcoin without the need for intermediaries such as banks or financial institutions. This can provide a greater sense of autonomy and independence when it comes to managing one's wealth. While still considering bitcoin may be a viable alternative for some people during times of crisis, it is important to carefully consider the potential risks and benefits before investing in it.

[qwertyup23]

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks. Besides as I saw this become an attractive option for some people because it is a decentralized, digital currency that is not subject to the same inflationary pressures as traditional fiat currencies --and the reason could be they can store and manage their bitcoin without the need for intermediaries such as banks or financial institutions. This can provide a greater sense of autonomy and independence when it comes to managing one's wealth. While still considering bitcoin may be a viable alternative for some people during times of crisis, it is important to carefully consider the potential risks and benefits before investing in it.

People argue that BTC is not a good store of value asset due to its high volatility. I do disagree but this comes with the contingent of knowing when to covert your BTCs into cash on the right opportunity and time.

One of the advantages of holding BTC in times of crisis is its value on the market. While it may not be stable compared to tangible assets like gold, expect its price to either increase/decrease depending on the current market status. This is also the reason on why the term HODLING was coined- keeping your assets until its value skyrockets in the future.

[noormcs5]

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks. Besides as I saw this become an attractive option for some people because it is a decentralized, digital currency that is not subject to the same inflationary pressures as traditional fiat currencies --and the reason could be they can store and manage their bitcoin without the need for intermediaries such as banks or financial institutions. This can provide a greater sense of autonomy and independence when it comes to managing one's wealth. While still considering bitcoin may be a viable alternative for some people during times of crisis, it is important to carefully consider the potential risks and benefits before investing in it.

People argue that BTC is not a good store of value asset due to its high volatility. I do disagree but this comes with the contingent of knowing when to covert your BTCs into cash on the right opportunity and time.

One of the advantages of holding BTC in times of crisis is its value on the market. While it may not be stable compared to tangible assets like gold, expect its price to either increase/decrease depending on the current market status. This is also the reason on why the term HODLING was coined- keeping your assets until its value skyrockets in the future.

Time of bitcoin crashes are not meant to sell the bitcoin but to hold them or even buy more bitcoins if you have spare fiat or usdt.
If you are able to buy bitcoin in a bear market, you cannot imagine the returns which you will be post in a bull market.
Bear Markets are the perfect time to take entry in bitcoin and keep on holding it for the next two to three years.

[cr1776]

...
Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Not to mention that it is difficult to carry substantial amounts of fiat, silver, gold etc over a border if you have to flee someplace like Venezuela, Germany in the 1930s, Russia at the time of the Russian revolution (under Stalin, Lenin, or even today), China under Mao, etc.  There are statists and authoritarians the world over who want to force you to pay for their choices, protect yourself.

We all know that there were several times in history when government expropriated gold. And crisis time is most suitable for gov to take such decision. And if so it will be not so easy not only to exchange your gold but even to keep holding it. Each asset you try to use for savings have its own disadvantages. For instance if you'll be forced to flee from your home it will be harder to take your gold with you than to take several hidden words hiding your bitcoins. Of course it is not an ideal variant as well, but gold isn't too.

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

Part of the reason it hasn't happened is that fiat is no longer backed by silver or gold.  It is backed by nothing except the whims of a government.  Look at Cyprus 10-11 years ago, since few people had gold or silver and the euro (like the dollar) is backed by nothing, they just gave everyone's bank accounts a haircut.  They didn't have to expropriate gold or silver.  If the euro had had silver or gold coins or even been backed by a PM things would've been different.  Like when the democrat president (FDR) expropriated gold in the 1930s and devalued the dollar.  Once the full tie of the dollar to silver and gold was lost in the 1960s and 1970s, it is only a matter of time before the value of the currency is completely lost.

With no anchor to fiat, they can inflate value away, expropriating it by a slightly stealthier method than outright seizure. 

[Mauser]

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

I agree with you, everybody should hold at least some of their wealth in crypto currencies. It doesn't necessary have to bitcoin, other well established crypto coins are a good alternative too. The problem with our centralised financial system is that the blow up of one institute could lead to the collapse of the whole system. Just think back to 2008 when Bear Stearns and Legman Brothers went bankrupt, all the major banks needed capital infusions and if the government wouldn't have stepped in many more banks would have went under. That is why even when you spread out your saving across multiple banks, it's not a guarantee your money is save. The two best ways to make sure our money is really save is buying crypto currencies and owning a piece of land. If we own our own house or apartment then we don't have to worry about rent during the next major crisis.

[jokers10]

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

If something didn't happen for long it doesn't mean it will never happen again. As cr1776 reminded Cyprus case with one-time tax on deposits was an example of a seizure which held recently enough. And if other "democratic nations" didn't do anything like that longer it just means they used some other options in crisis times. But it doesn't mean they will never use this one. And to be prepared to crisis means to keep in mind that any asset in any country can have its own disadvantages.

[MoonOfLife]

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks.

Given what happened during the 2022 crisis, and bitcoin has also lost 80% of its value, I don't see how it can help us fight inflation. Inflation only causes commodity prices to increase by 10%-15%, while if you hold bitcoin, your wealth has dropped by 80% and has yet to recover this year. Bitcoin is just a long-term investment, it doesn't help in times of crisis.

[uneng]

This hasn't been done in any of the democratic nations for a long time now, I can't remember last time this has ever happened, not in my life time at least, sure maybe in nations like china or Russia it could have happened because they are run with dictatorship, but can't remember any west nation that took peoples gold and used it to make the nation "better".

In any case, gold is still not that good compared to bitcoin, even if no government ever takes your gold bitcoin is still better in the end, since at the end of the day we are talking about bitcoin being better than gold when you compare them at default levels. Bitcoin is better than anything to be fair.

If something didn't happen for long it doesn't mean it will never happen again. As cr1776 reminded Cyprus case with one-time tax on deposits was an example of a seizure which held recently enough. And if other "democratic nations" didn't do anything like that longer it just means they used some other options in crisis times. But it doesn't mean they will never use this one. And to be prepared to crisis means to keep in mind that any asset in any country can have its own disadvantages.

Bitcoin is the best alternative in this case, because you can have total control over your money, so governments can't seize it from you, while also keeping the value of your money on long term, on the opposite of the local fiat currency which is losing price fastly in a daily basis.

Gold could be a decent choice, but only if holding it physically, what I think for most people it's hard to acquire. Personally, I have no idea how to purchase physical gold. Also, it's not accessible to transport it when having to leave from one place to another.

[Mr.sprin]

it's true that holding bitcoins is the best way in conditions like this because bitcoin cannot interfere with other people, even if the government even though bitcoin is completely managed by us, I personally like to invest in bitcoin because in my country only bitcoin is not subject to state tax, gold is almost the same as investing bitcoin is just the difference that gold has physical evidence that we can hold.

[jokers10]

Bitcoin is the best alternative in this case, because you can have total control over your money, so governments can't seize it from you, while also keeping the value of your money on long term, on the opposite of the local fiat currency which is losing price fastly in a daily basis.

Gold could be a decent choice, but only if holding it physically, what I think for most people it's hard to acquire. Personally, I have no idea how to purchase physical gold. Also, it's not accessible to transport it when having to leave from one place to another.

Well, even if I'm standing for bitcoin and am at a bitcoin forum I'd say that diversification is a good idea: we all know that it is not a good idea to put all your eggs in one basket. Depending on for how long, why, and how are you planning to hold your savings you can use different ways. If you want to buy something in a couple of weeks you'll probably should even keep your money in what you have at the moment (I guess usually it will be fiat money). If you want to keep them for tens of years and are affraid of inflation, then bitcoin and gold and pieces of art and some other things can probably be not a bad decision, but all of them have own disadvantages. If you have lots of money to be saved I'd prefer to diversify. But if you are affraid of a crisis time bitcoin IMO is better than gold or masterpice as it is easy to move it and to use it directly.

As for where to buy gold: you can buy golden coins and bullions in a bank or on some auction like ebay. Beware of fake.

[Abiky]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

The last thing people will be thinking of is Bitcoin during times of crisis. Especially when it has unstable market prices. When there's a natural disaster such as an earthquake or a hurricane/storm, there will be little or no Internet access at all. How would people use Bitcoin when there will be no way to settle transactions on chain? You could use Bitcoin offline using a bearer instrument like a paper wallet, OpenDime, or loaded physical coin. But transactions would need to be settled some point on the Blockchain to ensure everything is final. Maybe someday developers will find a way to fix this? If they solve this problem, then Bitcoin would soar towards new heights in terms of mainstream adoption.

Despite the setbacks, Bitcoin is still a better option than Fiat which is controlled by the government and banks. You get true financial freedom as long as you hold access to the keys. Governments know Bitcoin's potential, so they're doing everything they can to stop it. I'd say they're pretty late to do anything about it. Who knows if BTC surprises us in the future? Just my thoughts

[mendace]

The last thing people will be thinking of is Bitcoin during times of crisis. Especially when it has unstable market prices. When there's a natural disaster such as an earthquake or a hurricane/storm, there will be little or no Internet access at all. How would people use Bitcoin when there will be no way to settle transactions on chain? You could use Bitcoin offline using a bearer instrument like a paper wallet, OpenDime, or loaded physical coin. But transactions would need to be settled some point on the Blockchain to ensure everything is final. Maybe someday developers will find a way to fix this? If they solve this problem, then Bitcoin would soar towards new heights in terms of mainstream adoption.

In reality they have sent satellites with nodes in the atmosphere just to avoid some natural disasters and even if the internet connection fails we always have the possibility of Star Link or not?  I think Bitcoin is unstoppable beyond natural disasters.

[Abiky]

In reality they have sent satellites with nodes in the atmosphere just to avoid some natural disasters and even if the internet connection fails we always have the possibility of Star Link or not?  I think Bitcoin is unstoppable beyond natural disasters.

That's a great idea. But the only downside is that satellites are controlled by companies (eg: Starlink). That means they'll need to meet with government demands or face serious consequences in the long run. Imagine if all of the world's governments turn hostile against Bitcoin. Satellites transmitting blockchain info will be shut down for good. I think the only option would be to perform Bitcoin transactions through radio waves during times of crisis. The cryptocurrency is open source, so what you can do with it is limited to developers' own imagination.

BTC has reached this far since its inception, so I'd say there's nothing governments can do to stop it. Who knows if they'll ultimately give up in their battle against crypto/Blockchain tech? Just my thoughts

[noormcs5]

Holding bitcoin during times of crisis can provide a sense of security and stability, as well as protection against inflation and other economic risks even though we know it is a highly volatile asset and its value can fluctuate rapidly, so it is not without risks.

Given what happened during the 2022 crisis, and bitcoin has also lost 80% of its value, I don't see how it can help us fight inflation. Inflation only causes commodity prices to increase by 10%-15%, while if you hold bitcoin, your wealth has dropped by 80% and has yet to recover this year. Bitcoin is just a long-term investment, it doesn't help in times of crisis.

Since bitcoin adoption is still in the early days, we find this manipulation (yeah I will call it manipulation), where bitcoin is pumped high and then dumped to even 90% or more. When this market matures, I am sure the volatility will decrease and as a result we will find a much stable bitcoin price.
Yes, i will still say that bitcoin is a hedge against inflation because the total supply of bitcoin is fixed and it cannot be increased as compare to any other currency like dollar which the government can print unlimited amounts making it devalue.

[jokers10]

...
When this market matures, I am sure the volatility will decrease and as a result we will find a much stable bitcoin price.
...

Yes, and I can name that price right now, it is 1BTC=1BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy.

[KaliLinux]

There are many advantage to holding Bitcoin apart from what you have mentioned so let's just stick to what works for us. The current crisis between Russia and Ukraine had deprived many people of there right and acces to good food.

Just a question, does holding Bitcoin give them access to good food?  I wonder how can holding Bitcoin help these people in accessing good food?  Isn't it more convenient to them if they have cash to pay for their food?  As far as I know, there isn't much retail stores that accept Bitcoin as payment, and there are still many suppliers that are not into Bitcoin.  So I wonder, what change does it gives holding Bitcoin against holding cash in hand?

We might not not the effect now until we get a grasp of what people that are there are suffering. War is not something we should encourage but the use of Bitcoin since had been helping many Ukraine citizens on donation and free will to help the injured and dead Ukraine soldiers.

Isn't fiat donation helping them the same way Bitcoin donation helping them?

The only thing I see holding Bitcoin become advantage is that it can increase in price in the long run, meaning if you are holding $100 worth of BTC today, there is a possibility that in then next years you will be holding more than $100 but there is also a possibility that you can hold less if the price of Bitcoin crash.

In time of crisis and people have no way to earn money, I do not think people will hold on their Bitcoin when they don't have money to spend for their needs, they will eventually cash out to pay for rents and bills.  I am not negative about holding Bitcoin but I am just saying the obvious when crisis arises, unless you have lots of money that you do not need to touch your cryptocurrency holdings.

I agree and you literally took the words out of my mouth. I however understand how much we will continue to support Bitcoin and as I have always said, most people do so because of the gains from its speculative nature. Yes, Bitcoin does save against inflation and I have personally enjoyed this aspect of it as I believe most of us too but even with the recent fiat difficulty in my region now, Bitcoin is yet to cover that vacuum in terms of daily payment even though it is also well accepted by a good number of the vibrant youths. While it has other advantages of holding Bitcoin, I personally wouldn't consider this as one for now.

[Franctoshi]

The role of Bitcoin in our today's society that is living with high inflation rate which is ravaging across the world and robbing off people the value of their money, is something that holding Bitcoin has come to serve as a solution and as a save heaven. Now people have alternative way to move away from depending on the old Fiat bank system and total government control of their money to being in control of their own money , using Nigeria as a case study where the citizens are currently not allowed to have full access of their had earned money is something insane. Therefore someone who has like 50- 70% of his money stored in Bitcoin would not be much affected. The existence of Bitcoin has huge advantage in today's world.

[mendace]

...
When this market matures, I am sure the volatility will decrease and as a result we will find a much stable bitcoin price.
...

Yes, and I can name that price right now, it is 1BTC=1BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy.

It all seems very correct to me only that it is wrong to refer to Bitcoin as an asset.  In the whitepaper it is declared that it is a form of peer to peer payment, no reference is made to any asset, and I think it is precisely this logic that is wrong many think of Bitcoin as if it were gold to be kept in reality it should be precisely in place of those dollars so stable.

[borovichok]

The role of Bitcoin in our today's society that is living with high inflation rate which is ravaging across the world and robbing off people the value of their money, is something that holding Bitcoin has come to serve as a solution and as a save heaven. Now people have alternative way to move away from depending on the old Fiat bank system and total government control of their money to being in control of their own money , using Nigeria as a case study where the citizens are currently not allowed to have full access of their had earned money is something insane. Therefore someone who has like 50- 70% of his money stored in Bitcoin would not be much affected. The existence of Bitcoin has huge advantage in today's world.

Bitcoin already served its essential obligation to the citizens who embrace it with all their minds. Holding Bitcoin have saved me countless times in the act of generating profits within the hardships of the country economy. Nigeria are trying to redesignate the new currency into circulation, and that alone is causing chaos in the country with majority of Nigerians protesting and kicking against it, because the government have already made crucial ban on cryptocurrency and consider it as illegal means, but some people still go ahead and do what makes them happy and going in the space by providing the Peer to Peer also known as P2P for buying and selling of crypto assets.

[GigaBit]

The role of Bitcoin in our today's society that is living with high inflation rate which is ravaging across the world and robbing off people the value of their money, is something that holding Bitcoin has come to serve as a solution and as a save heaven. Now people have alternative way to move away from depending on the old Fiat bank system and total government control of their money to being in control of their own money , using Nigeria as a case study where the citizens are currently not allowed to have full access of their had earned money is something insane. Therefore someone who has like 50- 70% of his money stored in Bitcoin would not be much affected. The existence of Bitcoin has huge advantage in today's world.

Bitcoin already served its essential obligation to the citizens who embrace it with all their minds. Holding Bitcoin have saved me countless times in the act of generating profits within the hardships of the country economy. Nigeria are trying to redesignate the new currency into circulation, and that alone is causing chaos in the country with majority of Nigerians protesting and kicking against it, because the government have already made crucial ban on cryptocurrency and consider it as illegal means, but some people still go ahead and do what makes them happy and going in the space by providing the Peer to Peer also known as P2P for buying and selling of crypto assets.

If the Nigerian government observe the impact of Bitcoin as negative and wants to turn the public against Bitcoin, it could be a big mistake for that government. Because it is a decentralized system that any government can not control it but it would be better for that government to take good initiative to control it. As we have seen it happened in India. India is said to be a potential country for cryptocurrency. The government initially strongly opposed it, but later allowed its use. The Nigerian government should also consider how to regulate its positive sites. It should be remembered that the demand for bitcoins is constantly increasing worldwide, so no decision should be taken that people reject.

[jokers10]

Yes, and I can name that price right now, it is 1BTC=1BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy.

It all seems very correct to me only that it is wrong to refer to Bitcoin as an asset.  In the whitepaper it is declared that it is a form of peer to peer payment, no reference is made to any asset, and I think it is precisely this logic that is wrong many think of Bitcoin as if it were gold to be kept in reality it should be precisely in place of those dollars so stable.

When I say an asset talking about bitcoin I mean it in a broad sense. So dollars and other fiat currencies are assets as well. So it is just a useful term for me to talk about different kinds of financial objects. When I say an asset in this topic I definitely don't mean limiting bitcoin's usage for holding only, but still as we are at a topic about using bitcoin in a crisis it can have quality for being a defensive asset, so it can be compared with gold too, even if it definitely not the first its function.

[Abiky]

Yes, and I can name that price right now, it is 1BTC=1BTC. We discuss bitcoin rates to USD just because USD is still more stable than bitcoin. When bitcoin will become really low volatile and become a very slowly value-adding asset we will value goods and services right in it. Who will care of inflationary fiat currencies that time? A decentralized low volatile currency will become much more popular and useful for evaluating the economy.

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.

In times of crisis, people will think about Fiat first (not Bitcoin). Things will change in the future as Bitcoin matures in the mainstream world. With many ways to get access to it, we can say BTC is truly unstoppable. Let's hope more countries join the "Bitcoin train", so we can be on a road towards a prosperous society in the future. Just my thoughts

[jokers10]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

[Odusko]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it becomes a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technological development.

One of the major drawbacks to bitcoin currency status is the instability of the price of Bitcoin and this reason is why most businesses have not fully integrated bitcoin payment into their payment system, and this fear of losing some percentage within a small space of time has demoralized most CEO.
Even though Bitcoin offers a secured payment, it still remains unpopular among the business community unless the investors who are simply stashing Bitcoin for the long term base.

[franky1]

ok here is a thought

lets imagine its november 2022

you have $165
you have 0.01btc ($165)

a cup of coffee is $3.30 in november
meaning you can only buy 50 coffees in november with either fiat or btc

ok
now its march 2023
you have $165
you have 0.01btc ($205)
a cup of coffee is $4 in march 2023
meaning you can only buy 41 coffees with fiat
meaning you can still buy 50 coffees with btc

[Tazzy4050]

Bitcoin is ideal for holding in times of crisis because it is safe and easy to use. You can always exchange Bitcoin for local currency without a middleman, which is not required when withdrawing from bank accounts during a crisis.

When it comes to the world of cryptocurrency, there is no bigger buzzword than Bitcoin. It’s been the star of all things crypto for years and has even gone through its own trials and tribulations, along with a spike in prices. But what if this technology could actually benefit you? With the potential to drop or rise by thousands of % in just a few minutes, it’s easy to see why people may be afraid of keeping their money on exchanges such as Coinbase or Poloniex. However, holding Bitcoin in time of crisis can go a long way in protecting your precious funds and getting them out of harm’s way quickly – which is exactly what we’ll show you how to do below.

You must be thinking there is no advantage to hold bitcoin in time of crisis but if you are forming a strategy to save your money, then bitcoin could be considered as an investment. Bitcoin has its own ups and downs. Bitcoin has been known for its volatility, however, a long-term trader will get more profit out of holding bitcoin rather than buying and selling at short term intervals.

Bitcoin is a novel and disruptive technology that has created an opportunity to invest in gold, silver and other traditional assets.

[jokers10]

One of the major drawbacks to bitcoin currency status is the instability of the price of Bitcoin and this reason is why most businesses have not fully integrated bitcoin payment into their payment system, and this fear of losing some percentage within a small space of time has demoralized most CEO.
Even though Bitcoin offers a secured payment, it still remains unpopular among the business community unless the investors who are simply stashing Bitcoin for the long term base.

Look at the charts for all time and you'll see that bitcoin rates become more stable with time. So if you want to extrapolate what we have nowadays to future it will hardly be correct. Bitcoin will lose volatility and some day it will become more stable then those fiat currencies which we consider as one of most stable as at now. Just a matter of time. I'm not too hurry and you?

[lixer]

If the Nigerian government observe the impact of Bitcoin as negative and wants to turn the public against Bitcoin, it could be a big mistake for that government. Because it is a decentralized system that any government can not control it but it would be better for that government to take good initiative to control it. As we have seen it happened in India. India is said to be a potential country for cryptocurrency. The government initially strongly opposed it, but later allowed its use. The Nigerian government should also consider how to regulate its positive sites. It should be remembered that the demand for bitcoins is constantly increasing worldwide, so no decision should be taken that people reject.

The mistake is on the people who use Bitcoin because they use it wrongly and not with their government because it is only observing them. If only those people use Bitcoin the right way, Bitcoin on their country won't be banned.

If you are on the same position of their government. Will you let your people lose money and do illegal things with Bitcoin? If you are careless and also do illegal things, yes but if I am the government I will educate my people the right way of using Bitcoin. I will gave them a second chance in short but if they repeat the same mistakes again, I will be forced to permanently ban Bitcoin in my country for good.

[D ltr]

during the current crisis there are no coins that can be relied on because the value is very unstable, and also bitcoin is not an asset for saving because we know bitcoin has not  good volatility for finance
  what has been mentioned can actually be said to be true too, but it needs to be emphasized that bitcoin is for long-term investment not to cover living expenses during the current inflationary period

[BTCBroker2016]

Adantage is that BTC always win over different assets in terms of price

[MiF]

Saving bitcoin and use it in tome of crisis? I think we have many options to save we can use banks crypto or save in our home we can make a piggy bank and place it in a very safe way, bitcoin has also a big risk if we use it as savings because when the time comes that we need money and the bitcoin is in bear status we will be force to sell it even in a very low price because of our emergency needs but if we are lucky and bitcoin is in bullish season in time of crisis then this is good it is still depend on the market situation, i suggest to save on your own way in your home or save also a little peace of money in bank for good.

[ilovealtcoins]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

[BenCodie]

In a scenario where the global economy is on a rapid decline (even more rapid than it already is), you can expect in the short term for adversary interests to attack Bitcoin as much as possible (in a market and media sense) in order to deter people from thinking that it is a hedge. The immediate benefit of holding Bitcoin at that time might not be too advantageous...Though this would only be short lived. Eventually the attacks (as always) will become less effective, and the result of holding Bitcoin at a time of economic crisis would prove to be the right hedge against it. That is, after all, one of the core purposes of Bitcoin.

[andriarto]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

I think precisely with the high volatility of bitcoin, that's the interesting part because we will get profits from bitcoin, if bitcoin becomes more stable then the function of bitcoin as an investment tool may become less attractive, apart from its main function as a currency. precisely as it is at this time that is our opportunity where there are still few users and we can buy until later the more users there will be more demand and finally the price will rise. I guess that's the main goal nowadays of people being bitcoiners

[jokers10]

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

Well, I don't monitor bitcoin rates every day. If anything significant will happen I'll see that from forum activity.

But okay, about if bitcoin will be interesting without volatility: definitely yes. Don't forget it is a deflationary asset so you expect that even if it is stable it will let you buy a little bit more in a year and any fiat currency (inflationary assets) will give you less in a year. The aim for inflation for US is 2%, so in 1 year 1 dollar becomes cheaper at least for 2% averagely. If bitcoin will be just stable it will give at least those 2%. So people will still be interested in using bitcoin anyway. And this even if we forget about main thing: when you trust your money to banks they control it, if you use bitcoin then control on your money stays at yours.

[Inwestour]

Now many people in different countries feel the effects of inflation, but few see the possibilities of how to protect themselves from it. Not everyone is able to understand the advantages of bitcoin in this situation, but for me personally, this is a lifeline, but there are not many of us, I mean in relation to the entire population.

I have some fiat savings, but my main investment is bitcoin and this gives me good confidence.

[xSkylarx]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

That is also a big question that difficult to answer even myself i was into bitcoin because its value and the profit from it . if the price stabilize for sure those people who stayed used it for their daily needs like sending and receiving transactions as they dont care whats the price on it though it doesn't mean that only 1% will stay there are still couple of people using it with its main purpose.

[Ojima-ojo]

()
That is also a big question that difficult to answer even myself i was into bitcoin because its value and the profit from it . if the price stabilize for sure those people who stayed used it for their daily needs like sending and receiving transactions as they dont care whats the price on it though it doesn't mean that only 1% will stay there are still couple of people using it with its main purpose.

The price volatility of bitcoin make it hard to be taken as a daily currency for payments and that is why most people take bitcoin as an investment, but the fact that we have other stable coins which can be use for daily transaction and fast it become more accruable to take Bitcoin as an investment.

Because if you take bitcoin as a daily transaction currency it should be done in bits-bits and not in dollar average costing.

[Smack That Ace]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

That is also a big question that difficult to answer even myself i was into bitcoin because its value and the profit from it . if the price stabilize for sure those people who stayed used it for their daily needs like sending and receiving transactions as they dont care whats the price on it though it doesn't mean that only 1% will stay there are still couple of people using it with its main purpose.

That's a tough question to answer, I believe if people were honest with each other to answer this question, I wouldn't be surprised when people say we're here for profit. There are still some people who invest in bitcoin, not for profit, they see bitcoin as a currency, a means of payment, but that number may not be more than 1% of the market.

I never thought about it because I believe bitcoin will never be stable, but if it happens, I will definitely find an alternative investment. And will still use bitcoin to protect its assets but will no longer focus on bitcoin as much as it is today.

[Ataiwo913]

The advantages of holding Bitcoin in time of crisis are: 1. it provides a safe place to guard your wealth, 2. it offers the opportunity to diversify your investments, 3. it can act as a buffer against inflation, 4. above all else Bitcoin is a decentralized currency which cannot be controlled by any government or central bank

[jokers10]

That is also a big question that difficult to answer even myself i was into bitcoin because its value and the profit from it . if the price stabilize for sure those people who stayed used it for their daily needs like sending and receiving transactions as they dont care whats the price on it though it doesn't mean that only 1% will stay there are still couple of people using it with its main purpose.

You forget that bitcoin is a deflationary asset unlike fiat currencies. It means that if bitcoin will become stable it will still slowly grow up and fiat currencies will  still go down. We all know that collateralized bond obligation can give yield even lower than inflation rate but they are still popular. A deflationary asset will give a little more than inflation rate so why wouldn't it be popular? Of course different people are interested in different types of assets but there will be someone interested in each non collapsed asset and even for some collapsed assets.

[summonerrk]

Unfortunately, banks are a relic of the past, but still often used everywhere. Why should we be attached to them? My salary is first transferred to the bank, after which they carry out manipulations receiving interest, and only then the money comes to me. In any crisis, the bank will block your money, block transfers. I hope that in the future we will do without intermediary banks, they, like parasites, simply take a commission for each action. And I am glad that my money is stored in cryptocurrency, where I make decisions only for me.

[|MINER|]

That would be a dream come true. But people often see Bitcoin as an investment tool (not a currency), so don't count on BTC becoming the global unit of account anytime soon. It will always remain an alternative to Fiat because of the way it was designed.
...

Of course it will take lot of time, and of course people still not often consider BTC as a currency. But "a journey of a thousand miles begins with a single step". People will use bitcoin as a currency when it become a comfortable option, when its volatility will go down and when in mostly every bakery around you'll have an option of paying for a small bun and small cup of coffee with BTC fast, cheap and secure. So it is a matter of time and further technology development.

But once bitcoin becomes stable, will people continue to use it? Honestly, from what I see, 99% of people invest in bitcoin for profit, and very few people care about its technology. So if bitcoin is stable, I doubt they will continue to use it. I believe that you and I, and everyone in the market today are interested in the bitcoin price every day.

I don't think that stable state of market or bitcoin will ever come, because if bitcoin is stable in terms of price then I think that profit cannot be earned by trading through it. This volatility of bitcoin is its strength that allows bitcoin users or holders to earn profits through ledgers. So I think Bitcoin's volatility will always remain but its price will continue to rise as well.

[tread93]

The global economy is facing a crisis of inflation and other internal financial crisis, such as what we are witnessing right now with recent bad occurrences around the world in Turkey and Syria a lot of people have been mad homeless and government infrastructures such as banks have been destroyed as a result of the earthquake and other natural and man made disasters that has happened in various regions.

This situation has forced many into financial hardship and the unavailability of financial institutions and services, in fact in some countries a lot of financial crisis is currently being experienced.

With most depositors no longer have access to their money through to the high centralization of the financial institutions leaving all the power over their finances in the hand of the central banks.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

Right now besides precious metals Bitcoin is our best bet! Nobody can stop us from accessing coin, so long as you're not hacked. A future without BTC looks grim, and thankfully BTC is here to stay!

[QueenVera]

Bitcoin is the best alternative way to save money, with Bitcoin you have control over your savings because it's your wallet and your key and you are your banks!

What makes Bitcoin unique isn't just because it's the best way to save money but it's also the best way to invest your money. With Bitcoin you're having a double package just buy buying it. Bitcoin gives you a sense of security in the mist of been the best investment options available in the modem world. Bitcoin has a limited supply, it's is also decentralized.
With Bitcoin you're in charge of your investment as you don't need some authorization to access your money although to enjoy this, you have to be holding your Bitcoin in a decentralized wallets. There are so many available that we shoudn't be making use of a centralized wallets or exchange. Exchange were never meant to be used as wallet.
Exchange are the worst way to save your Bitcoin, not only are they centralized but they can vanish without you been compensated or refunded. Even with their centralization, they aren't regulated so they have the power to do whatever they want without any consequences.

[Cryptmuster]

I don't think that stable state of market or bitcoin will ever come, because if bitcoin is stable in terms of price then I think that profit cannot be earned by trading through it. This volatility of bitcoin is its strength that allows bitcoin users or holders to earn profits through ledgers. So I think Bitcoin's volatility will always remain but its price will continue to rise as well.

Volatility is good for traders, but for holders it doesn't really matter, as holders just buy and wait for the price they want. And I don't think that bitcoin will be able to maintain this volatility forever, because the more expensive it becomes, the more it will decrease, it will be good to see this when the price reaches hundreds of thousands.

[Abiky]

Unfortunately, banks are a relic of the past, but still often used everywhere. Why should we be attached to them? My salary is first transferred to the bank, after which they carry out manipulations receiving interest, and only then the money comes to me. In any crisis, the bank will block your money, block transfers. I hope that in the future we will do without intermediary banks, they, like parasites, simply take a commission for each action. And I am glad that my money is stored in cryptocurrency, where I make decisions only for me.

Money held at a bank, is simply NOT your money at all. You're just giving away ownership rights by lending your money to such entity. Even cash (paper money) can be manipulated according to banks' own interests. With Bitcoin, that's another story. You truly "own" your coins as long as you have access to the private key or seed. There's no central authority in-charge of the cryptocurrency's monetary policy, so it's impossible to increase the supply at will. No one will be able to freeze or confiscate your funds thanks to the way Bitcoin was designed.

In times of crisis, BTC could prove to be "sound money" for those who need it the most. Unfortunately, the vast majority of people worldwide see BTC as an investment tool to become filthy rich in the future (not as a currency). The constant fluctuations in price (volatility) would force people to switch to more stable assets/commodities such as Gold or Silver. Yet, we cannot compare them with BTC because the latter is relatively new to the world. If countries keep adopting BTC as legal tender, then its use as a currency will magnify. The sky is the limit to how far BTC will go. Who knows if "hyperbitcoinization" materializes sometime in the future? Just my opinion

[CryptSafe]

Just as you have said OP, holding bitcoin sometimes saves. I have had experience but mine is different from the case of crisis but however, the situation in which I found myself was the type that needed an urgent response from me financially and as at then, I had something but was not enough in anyway to cover up for the urgency at hand and the situation was such that would require expedite actions although I had a pending credit  waiting to drop down but I had no option than to sell my bitcoin to replace it when I am credited. I had other options at hand but the time required, process and procedures involved is time consuming which means a no for me so I had to do the needful by selling my bitcoin. Just as your topic implies, indeed it is an advantage holding bitcoin because anything can happen at anytime.

[jokers10]

...
So I think Bitcoin's volatility will always remain but its price will continue to rise as well.

How do you imagine it? Entire world GDP is about 96,510 billions USD. Bitcoin total issue is 21 million. So if bitcoin will cost around 4.5 million its capitalization will be equal to entire world GPT. It's about 200 times more than now, and 10 years ago bitcoin was about 100 USD what is 200 times less than now. So if volatility and growth will remain then in about ten years all bitcoins will cost more than everything in the Earth. It is impossible. Volatility will certainly go down in time.

[AnonBitCoiner]

Your thoughts are correct due to some crises may be these are natural or are man made but they destroy the economy of individuals. Beside this there are large number of individuals who are jobless so for this purpose they are trying to find out another way that is possible for earning.

Now bitcoin gains the curiosity of most of people all around the globe and it not just save your money but also enhance it. People who hold bitcoin may be at risk at start because the market is not understanding for them so they don't know how to make decision according to present situations.

If a person pay attention to its rules and try to know that how to sell, when to sell, when to buy and for how much time they should hold it and what makes the price reduction and enhancements so they will easily get what they wants.

[Comingdown]

The price volatility of bitcoin make it hard to be taken as a daily currency for payments and that is why most people take bitcoin as an investment, but the fact that we have other stable coins which can be use for daily transaction and fast it become more accruable to take Bitcoin as an investment.

Because if you take bitcoin as a daily transaction currency it should be done in bits-bits and not in dollar average costing.

I agree that the cryptos' volatility would be the main barrier for it to be considered as a daily currency. You wont probably want your sale for a product to less of the value you set. Also, the technical aspects of it makes it overwhelming to most. But, I don't say it wont happen since it has full of potential but you should be able to understand fully how it works so you won't make any bad decisions into it.

[abel1337]

The price volatility of bitcoin make it hard to be taken as a daily currency for payments and that is why most people take bitcoin as an investment, but the fact that we have other stable coins which can be use for daily transaction and fast it become more accruable to take Bitcoin as an investment.

Because if you take bitcoin as a daily transaction currency it should be done in bits-bits and not in dollar average costing.

I agree that the cryptos' volatility would be the main barrier for it to be considered as a daily currency. You wont probably want your sale for a product to less of the value you set. Also, the technical aspects of it makes it overwhelming to most. But, I don't say it wont happen since it has full of potential but you should be able to understand fully how it works so you won't make any bad decisions into it.

Volatility doesn't mean that you will receive less all the time, Bitcoin is volatile and it could pump it's value any time and it will depends on the merchant if he is capable of handling the risk of the volatility characteristic of bitcoin. I think no merchant will accept bitcoin without knowing it's characteristic and the risk when accepting cryptocurrencies. Not everyone is willing to use bitcoin for purchasing goods because they know that there are better altcoins to do the job. Bitcoin for me is much suitable to be called as an investment since I personally believe that the chance of it appreciating is much greater rather than any other altcoins out there.

[ringgo96]

for us crypto users, of course, holding bitcoin is a very big desire, apart from during the economic crisis or when bitcoin is in decline but we can still control bitcoin to overcome the problem, if currently many crimes occur in our country then holding bitcoin is the safest way from the seizure of certain groups, By storing bitcoins we will be more efficient in spending something that is not so needed, of course, this is very different from holding money that is so easy for us to spend.

[bettercrypto]

()
That is also a big question that difficult to answer even myself i was into bitcoin because its value and the profit from it . if the price stabilize for sure those people who stayed used it for their daily needs like sending and receiving transactions as they dont care whats the price on it though it doesn't mean that only 1% will stay there are still couple of people using it with its main purpose.

The price volatility of bitcoin make it hard to be taken as a daily currency for payments and that is why most people take bitcoin as an investment, but the fact that we have other stable coins which can be use for daily transaction and fast it become more accruable to take Bitcoin as an investment.

Because if you take bitcoin as a daily transaction currency it should be done in bits-bits and not in dollar average costing.

We all know here that bitcoin is proven and tested for long term investment and if you do it as a day trading, you need a high amount of bitcoin to trade here, let's say the capital is about 100$ so that somehow you can get profit from 4$-10$ or more in a day.

    I have tried this although it is not always the case because it depends on the movement of the bitcoin price on the graph. And it is also necessary to make a time frame so that you really have an aim at the end of the day.`

[Questat]

...
So I think Bitcoin's volatility will always remain but its price will continue to rise as well.

How do you imagine it? Entire world GDP is about 96,510 billions USD. Bitcoin total issue is 21 million. So if bitcoin will cost around 4.5 million its capitalization will be equal to entire world GPT. It's about 200 times more than now, and 10 years ago bitcoin was about 100 USD what is 200 times less than now. So if volatility and growth will remain then in about ten years all bitcoins will cost more than everything in the Earth. It is impossible. Volatility will certainly go down in time.

But it's still called volatility, right? Even if the movement becomes slower over the time.

Anyway, it's too soon to discuss about these things and that bitcoin will be valued around $4.5 Million somewhere in the future because we are yet to cross the $100k mark, what more at least $1,xxx,xxx. Furthermore, I know that it's likely in the future that bitcoin will be valued as much as 100 times from the last ATH, but we should know as well that anything is not guaranteed and what we have right now are mere speculations only.

[summonerrk]

Unfortunately, banks are a relic of the past, but still often used everywhere. Why should we be attached to them? My salary is first transferred to the bank, after which they carry out manipulations receiving interest, and only then the money comes to me. In any crisis, the bank will block your money, block transfers. I hope that in the future we will do without intermediary banks, they, like parasites, simply take a commission for each action. And I am glad that my money is stored in cryptocurrency, where I make decisions only for me.

Money held at a bank, is simply NOT your money at all. You're just giving away ownership rights by lending your money to such entity. Even cash (paper money) can be manipulated according to banks' own interests. With Bitcoin, that's another story. You truly "own" your coins as long as you have access to the private key or seed. There's no central authority in-charge of the cryptocurrency's monetary policy, so it's impossible to increase the supply at will. No one will be able to freeze or confiscate your funds thanks to the way Bitcoin was designed.

In times of crisis, BTC could prove to be "sound money" for those who need it the most. Unfortunately, the vast majority of people worldwide see BTC as an investment tool to become filthy rich in the future (not as a currency). The constant fluctuations in price (volatility) would force people to switch to more stable assets/commodities such as Gold or Silver. Yet, we cannot compare them with BTC because the latter is relatively new to the world. If countries keep adopting BTC as legal tender, then its use as a currency will magnify. The sky is the limit to how far BTC will go. Who knows if "hyperbitcoinization" materializes sometime in the future? Just my opinion

So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.
Many thanks to all the countries where cryptocurrencies are legal: Switzerland, Japan, Italy, Spain, Germany - they show the whole world that they are not afraid of bitcoin, and that they share the ideas of freedom and honesty.
I am glad that I am not only a part of this movement, but also use cryptocurrency transactions, they allow me to send money to my parents.

[nimogsm]

I think today everyone understood what an advantage Bitcoin has, all those who took a chance and bought when the market was red today in a good plus and their expectations were justified.In those moments when everything seems to be lost, Bitcoin comes to the rescue)

[bosede1]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

[dupee419]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

It is true, and most countries today have taken over taxation on cryptocurrency and wallets, which means the government is most likely to butt in on every transaction, but, otherwise, if your country isn't underdeveloped, I believe that the advantages will come in.

[samcoin]

So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.

The recent fall down of SVB bank shows that crypto could be save heaven for people who want to take control of their money. This may be the reason Bitcoin has risen up 7% today. Although a lot of crypto projects get affected by the fall down of SVB, this might mark a new era of Bitcoin and cryptocurrencies adoption by the crowd. Indeed, the core principle of crypto is to take rid of banks and their control over people's money, and build completely independent financial system that no entity or government can control.

[Rabata]

Simply the best time to buy BTC is when it is in a crisis. Some Investors call this time with depression. There will be risks in the market and investments must be made by accepting those risks. Those who invested in BTC a few days ago may have received 14 percent profit of their investment today. For those investors who dare to invest with confidence in Bitcoin, BTC will be able to offer the highest for them. Moreover, those who will play an active role in buying BTC for the long term without any calculation will enjoy maximum benefits from it.

[danadc]

I think today everyone understood what an advantage Bitcoin has, all those who took a chance and bought when the market was red today in a good plus and their expectations were justified.In those moments when everything seems to be lost, Bitcoin comes to the rescue)

The best thing is to buy Btc because in a few months,or in a matter of a couple of years,Bitcoin can reach a higher price than the previous one, and that is the best Investment of all, it is better than saving money and putting it in a fixed term In a bank,it would not give as many returns as Bitcoin can, a lot of news is saying that bitcoin can go down more but that could be tactics to make them sell bitcoin cheap,that's crazy,everyone wants to have bitcoin,and that It is something that I do not blame,you have to be very Intelligent and if you can buy it.

[jokers10]

But it's still called volatility, right? Even if the movement becomes slower over the time.

Anyway, it's too soon to discuss about these things and that bitcoin will be valued around $4.5 Million somewhere in the future because we are yet to cross the $100k mark, what more at least $1,xxx,xxx. Furthermore, I know that it's likely in the future that bitcoin will be valued as much as 100 times from the last ATH, but we should know as well that anything is not guaranteed and what we have right now are mere speculations only.

I'm not predicting any price of bitcoin, I just showed that it is impossible to keep growing up with the volatility we have at the moment. Even if we expect bitcoin to become the only currency in the world growth of its purchasing power can't be faster than entire economy grows. And as far as I know it doesn't grow 200 times per 10 years. So lowering of volatility of bitcoin is going at the moment and inevitable further. And that makes bitcoin even more suitable for crisis times.

[woez]

It seems that this must be conveyed regarding Another advantage of holding Bitcoin, especially at this time, namely its scarcity.

Yes, Bitcoins have a limited supply, and their production is controlled by complex algorithms. This means that the currency is not subject to inflation in the same way as traditional currency. In times of economic downturn, when traditional currencies may lose value due to inflation, Bitcoin can retain its value or even increase in value.

Bitcoins are also highly liquid, meaning they can be easily bought and sold on cryptocurrency exchanges around the world. In times of crisis, when the traditional financial system is disrupted or inaccessible, Bitcoin can provide a reliable source of liquidity.

[RahbabaKahn]

  Dose of Reality --- Bank deposits are fractionally-reserve bank IOUs; when you see $10,000 in your account balance for example, that figure is not actually backed up by physical dollars. Instead, that figure is backed up by a broad mix of less-liquid assets including Treasuries, mortgage loans, credit card loans, business loans, a bunch of other assets, and then a small percentage of actual dollars.  US Banks currently have just $3 trillion in cash to back up their $17.6 trillion in deposits. The majority of this cash is just a ledger entry with the U.S. Federal Reserve, and so it is not tangible. Somewhere around $100 billion of it ($0.1 trillion) is held by banks in the form of actual physical banknotes in vaults and ATMs. So, the $17.6 trillion in deposits are backed up by just $3 trillion in cash, of which perhaps $0.1 trillion is physical cash. The rest is backed up by less liquid securities and loans.
  When you buy BTC with dollars you are buying assets owned by millions of others in the blockchain network, so that BTC is a very liquid asset. When US (and perhaps global) banks start failing, where do you want your dollars to be? How easy will it be for you to get those dollars when the failed bank building is locked and their web site is down?  When dollars, yen, and euros are unavailable from the bank, it is highly probable that you will be able to get your BTC from the blockchain.

[Inwestour]

The best thing is to buy Btc because in a few months,or in a matter of a couple of years,Bitcoin can reach a higher price than the previous one, and that is the best Investment of all, it is better than saving money and putting it in a fixed term In a bank,it would not give as many returns as Bitcoin can, a lot of news is saying that bitcoin can go down more but that could be tactics to make them sell bitcoin cheap,that's crazy,everyone wants to have bitcoin,and that It is something that I do not blame,you have to be very Intelligent and if you can buy it.

In fact, I also admit that the price of bitcoin may fall in the near future, but this does not stop me, I continue to adhere to my strategy and continue to buy. The price may fall, it may rise, but at the moment globally we are at the bottom and this is a clear signal for me that I can buy, if the fall continues, then nothing will change for me, I will buy further. Perhaps we will spend the whole of 2023 in this state, so it is worth taking advantage of this to replenish our portfolio.

[Wildwest]

for now bitcoin can control our spending to use money in our daily lives especially since its value is declining so we will find it difficult to sell when the price has not reached the new ATH, especially now that the economy in each country is in decline and we must be good at managing our finances so storing in the form of bitcoin will be a good solution, And believe me the longer you keep bitcoins, the more they will be in value and everything will take time to enjoy them all.

[posi]

So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.

The recent fall down of SVB bank shows that crypto could be save heaven for people who want to take control of their money. This may be the reason Bitcoin has risen up 7% today. Although a lot of crypto projects get affected by the fall down of SVB, this might mark a new era of Bitcoin and cryptocurrencies adoption by the crowd. Indeed, the core principle of crypto is to take rid of banks and their control over people's money, and build completely independent financial system that no entity or government can control.

I also guess that's why bitcoin bounced, it seems like people are worried about depositing money in the bank these days. But completely eliminating banks is unlikely, as long as fiat currency dominates the world, banks are still needed. After all, a bank is also a company, and it's no surprise that when they fail, business doesn't always go smoothly. SVB is just one of the thousands of banks in the US, and as far as I know, people who have money in SVB have been able to withdraw money since yesterday.

[Z-tight]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

Holding BTC doesn't have any advantage in a time of severe crisis, it does not matter the place the crisis took place, it could be in the United States or in Kenya, whether a developed or an underdeveloped country; people just do not think about BTC when they have lost family, friends, relatives, neighbours, etc. In a time of crisis the thing to do is to worry about those who were affected in the disaster, and not to think about the advantage of holding BTC. Fiat is even easier to spend than BTC, and it may have more advantage to have than BTC in a time of crisis.

[Abiky]

So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.
Many thanks to all the countries where cryptocurrencies are legal: Switzerland, Japan, Italy, Spain, Germany - they show the whole world that they are not afraid of bitcoin, and that they share the ideas of freedom and honesty.
I am glad that I am not only a part of this movement, but also use cryptocurrency transactions, they allow me to send money to my parents.

Exactly. Banks are basically the ones with the reigns in the global economy. They can do whatever they want without being touched. Bitcoin fixes this. It allows people to become their own bank without the need to depend on a third party. Systemic risks are avoided with a decentralized and censorship-resistant network no single entity can control.

I think we will begin to see people using BTC more throughly during times of crisis, as banks continue to print money like there's no tomorrow. That constant money printing will make people lose confidence in the traditional monetary system. El Salvador, and Central African Republic already adopted BTC as legal tender, so it should only be a matter of time before other countries do the same. Once the whole world embraces Bitcoin, banks will become history. It's a slow and steady process that could take decades before it materializes. Who knows how BTC will surprise us in the long run? Just my opinion

[jokers10]

...
That constant money printing will make people lose confidence in the traditional monetary system.
...

Sorry but IMO it is wishful thinking. We want success to bitcoin and that's why mentally spread our way of thinking on others. Lots of people (a majority in some countries) don't have any savings so they don't really care about that their currency becomes cheaper or more expensive, because they spend it immediately after getting, basically on food. Others have enough money for most needed and they are not so concerned about inflation rate and some reduction of their future pension; maybe they will be interested in deflationary asset to have more but it will be hard to get such idea across to them because they'll be indifferent to "boring things". So IMO bitcoin will still be an open secret of a minority for many years.

[Kapokala]

...
That constant money printing will make people lose confidence in the traditional monetary system.
...

Sorry but IMO it is wishful thinking. We want success to bitcoin and that's why mentally spread our way of thinking on others. Lots of people (a majority in some countries) don't have any savings so they don't really care about that their currency becomes cheaper or more expensive, because they spend it immediately after getting, basically on food. Others have enough money for most needed and they are not so concerned about inflation rate and some reduction of their future pension; maybe they will be interested in deflationary asset to have more but it will be hard to get such idea across to them because they'll be indifferent to "boring things". So IMO bitcoin will still be an open secret of a minority for many years.

It's 2023. Bitcoin is no longer a secret, it's a reality. Behind (almost) every time the market crashes, bitcoin is one of the first assets to fall in value, then more than makes up for it in the future. The last banking crisis (which is now going on), or SVB, showed that what every person who knows cryptocurrencies talks about is becoming a reality. Governments are artificially bailing out banks, but it won't last forever. The bankruptcy of one of the largest banks in the 1st world country, without help from the government, will push the price of bitcoint to sky-high values, in the order of 100-200%, because unfortunately, but the society (the vast majority) begins to understand when it loses itself. And bitcoin gives, above all, a GUARANTEE of funds safety. No one can steal them if you keep them on your own wallet.

Feel free to apply for Stake Signature Campaign! 

[CryptSafe]

So not only can banks withhold your funds at any time, they also take commissions, changing the rules of the game on the go. Not to mention that if everyone wants to withdraw their funds at the same time, then no bank will have so much REAL money - banknotes. The entire banking system is now numbers on the screen, not backed by real money.
Many thanks to all the countries where cryptocurrencies are legal: Switzerland, Japan, Italy, Spain, Germany - they show the whole world that they are not afraid of bitcoin, and that they share the ideas of freedom and honesty.
I am glad that I am not only a part of this movement, but also use cryptocurrency transactions, they allow me to send money to my parents.

Exactly. Banks are basically the ones with the reigns in the global economy. They can do whatever they want without being touched. Bitcoin fixes this. It allows people to become their own bank without the need to depend on a third party. Systemic risks are avoided with a decentralized and censorship-resistant network no single entity can control.

I think we will begin to see people using BTC more throughly during times of crisis, as banks continue to print money like there's no tomorrow. That constant money printing will make people lose confidence in the traditional monetary system. El Salvador, and Central African Republic already adopted BTC as legal tender, so it should only be a matter of time before other countries do the same. Once the whole world embraces Bitcoin, banks will become history. It's a slow and steady process that could take decades before it materializes. Who knows how BTC will surprise us in the long run? Just my opinion

I have no doubt bitcoin would do extremely well when the time comes. I still believe bitcoin is at it's early adopter stage although it's been over 9  years it was invented by Satoshi Nakamoto but  from the looks,it is still yet to be adopted by many. However, it has already made millionaires and still counting but in the nearest future with the adoption of some few countries making it a digital legal tender in their various countries, I think they have set the pace for others to follow their steps. Individually, many are aware but their laws are limiting them while those that are already in are fully in the system doing their things as it pleases them. Many have had bitcoin as a backup plan and it is working for them. I have had that experience where bitcoin was my last resort and it worked to be my backup in time of rescue. It is not a joke it happened to me and for real I had such experience.

[BTCBroker2016]

I would say you feel more confident, bought BTC on Ownr wallet in 2022 during crisis still hold it

[mendace]

Sorry but IMO it is wishful thinking. We want success to bitcoin and that's why mentally spread our way of thinking on others. Lots of people (a majority in some countries) don't have any savings so they don't really care about that their currency becomes cheaper or more expensive, because they spend it immediately after getting, basically on food. Others have enough money for most needed and they are not so concerned about inflation rate and some reduction of their future pension; maybe they will be interested in deflationary asset to have more but it will be hard to get such idea across to them because they'll be indifferent to "boring things". So IMO bitcoin will still be an open secret of a minority for many years.

I understand your point of view.  It is true that many people in some countries have no savings and focus primarily on immediate needs such as food, so they may not be interested in long-term financial issues such as inflation.  However, the success of Bitcoin also depends on its adoption by investors and businesses, as well as consumer support.  There are also many people who have savings and who are concerned about protecting their assets against inflation and the devaluation of the national currency.

[jokers10]

I understand your point of view.  It is true that many people in some countries have no savings and focus primarily on immediate needs such as food, so they may not be interested in long-term financial issues such as inflation.  However, the success of Bitcoin also depends on its adoption by investors and businesses, as well as consumer support.  There are also many people who have savings and who are concerned about protecting their assets against inflation and the devaluation of the national currency.

Each piece of a puzzle is important and when we talk about bitcoin adoption then investors and traders are valuable as well. But expecting more than possible is not a good idea, majority will hardly lose confidence in traditional finance if they didn't do it up to now. Maybe some part (and each is important), but not a majority. So it will take time for bitcoin to be adopted really wide, but opportunities it gives are not only available for those who directly use it. Being an alternative bitcoin makes traditional finance system work harder to compete for clients, and it makes even an old system a little better for all. Maybe this will not help those ones who don't use bitcoin in the time of crisis but is works in a quiet time at least.

[mendace]

Each piece of a puzzle is important and when we talk about bitcoin adoption then investors and traders are valuable as well. But expecting more than possible is not a good idea, majority will hardly lose confidence in traditional finance if they didn't do it up to now. Maybe some part (and each is important), but not a majority. So it will take time for bitcoin to be adopted really wide, but opportunities it gives are not only available for those who directly use it. Being an alternative bitcoin makes traditional finance system work harder to compete for clients, and it makes even an old system a little better for all. Maybe this will not help those ones who don't use bitcoin in the time of crisis but is works in a quiet time at least.

Yes, every piece of the puzzle matters when it comes to the adoption of bitcoin and other crypto-assets.  Investors and traders play an important role in determining the value of bitcoin and spreading knowledge about the use of this digital asset.Even though more and more people are becoming aware of the value of bitcoin and the opportunities it offers, it will be some time before it becomes a mainstream payment system.

[D ltr]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

agree but a little adds to all depending on our management in managing finances, and investing, if our finances are good in any crisis our finances will be safe, without having to interfere with our BTC investment

[Franctoshi]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

Holding BTC doesn't have any advantage in a time of severe crisis, it does not matter the place the crisis took place, it could be in the United States or in Kenya, whether a developed or an underdeveloped country; people just do not think about BTC when they have lost family, friends, relatives, neighbours, etc. In a time of crisis the thing to do is to worry about those who were affected in the disaster, and not to think about the advantage of holding BTC. Fiat is even easier to spend than BTC, and it may have more advantage to have than BTC in a time of crisis.

While people care and think about their loved ones in the time of crisis, some people also do think about their money too,
what would be the safty and the value of their money in bank during this crisis and even how to get it out  ,but if you're someone that has some of your funds stored in Bitcoin you will be less worried, and a bit more in advantage than someone who has all his funds in the bank . Take for instance the current banking crisis we have in the United States and Nigeriaw where people got restricted to access their funds, and inflation as result of war in Russian and Ukraine.

[fauzan Ichsan]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

Holding BTC doesn't have any advantage in a time of severe crisis, it does not matter the place the crisis took place, it could be in the United States or in Kenya, whether a developed or an underdeveloped country; people just do not think about BTC when they have lost family, friends, relatives, neighbours, etc. In a time of crisis the thing to do is to worry about those who were affected in the disaster, and not to think about the advantage of holding BTC. Fiat is even easier to spend than BTC, and it may have more advantage to have than BTC in a time of crisis.

While people care and think about their loved ones in the time of crisis, some people also do think about their money too,
what would be the safty and the value of their money in bank during this crisis and even how to get it out  ,but if you're someone that has some of your funds stored in Bitcoin you will be less worried, and a bit more in advantage than someone who has all his funds in the bank . Take for instance the current banking crisis we have in the United States and Nigeriaw where people got restricted to access their funds, and inflation as result of war in Russian and Ukraine.

when a crisis occurs, the main thing to do is continue to survive, limit withdrawals from banks, so that investing in crypto also experiences sluggishness, because it seems that they are interrelated. but if we switch to crypto during a crisis, maybe it will be safer, because at that time the price will experience bearish, so that the future will be better.

[jokers10]

Yes, every piece of the puzzle matters when it comes to the adoption of bitcoin and other crypto-assets.  Investors and traders play an important role in determining the value of bitcoin and spreading knowledge about the use of this digital asset.Even though more and more people are becoming aware of the value of bitcoin and the opportunities it offers, it will be some time before it becomes a mainstream payment system.

It is not just the matter of time, bitcoins technical part should be developed as well. We can use it just because there is not so many transactions in its blockchain and there is some outer decisions like LN. Until bitcoin network bandwidth will become at least as huge as major payment-processing systems like Visa or MasterCard we hardly can expect it will become a mainstream payment system. And it looks like it will take time for programmers to find a solution which will be supported by bitcoin community for solving a scalability problem. So awareness about bitcoin and its development both need some time to beat their best.

[Abiky]

It's 2023. Bitcoin is no longer a secret, it's a reality. Behind (almost) every time the market crashes, bitcoin is one of the first assets to fall in value, then more than makes up for it in the future. The last banking crisis (which is now going on), or SVB, showed that what every person who knows cryptocurrencies talks about is becoming a reality. Governments are artificially bailing out banks, but it won't last forever. The bankruptcy of one of the largest banks in the 1st world country, without help from the government, will push the price of bitcoint to sky-high values, in the order of 100-200%, because unfortunately, but the society (the vast majority) begins to understand when it loses itself. And bitcoin gives, above all, a GUARANTEE of funds safety. No one can steal them if you keep them on your own wallet.

Feel free to apply for Stake Signature Campaign! 

Bitcoin can't be confiscated or debased at will, making it the best "sound money" the world has even seen. It's ideal for use at times of crisis. The only problem is dealing with volatile market prices. But that would no longer be a reason of concern in the future if Fiat collapses due to banks' mishandling of the economy. More people are becoming aware of Bitcoin's true benefits, so it should only be a matter of time before we enter the era of "hyperbitcoinization".

Buying now while prices are cheap could be the best decision to make in your lifetime. Who knows if you'll become rich in the future by acting fast before it's too late? Just my thoughts

[jokers10]

Bitcoin can't be confiscated
...

Chipmixer was closed about a week ago, about 2k bitcoins were confiscated. So bitcoins can be confiscated. It's not as easy as with fiat, but possible. So it is important to remember that protecting our private keys and seed phrases is on us only and we should be very cautious and careful. If no one knows we have some satoshies we are safer than if everyone can get access to our data and hardware. If it is hard to seize bitcoin it doesn't mean that it is impossible, and example of Chipmixer is not the only one.

[ektotanes]

I completely agree that holding bitcoin during the financial crisis is very good. Now I see that banks are collapsing like dominoes, and the whole world is plunging into chaos, but I am calm because I know that there is a bag of bitcoins in my ownr wallet.

At the moment, bitcoin is the best way to save your money. The main thing is to keep your bitcon in a safe place, and not on the exchange.

[Uruhara]

not only because of a natural disaster crisis. even in the world of banking even now is experiencing a crisis. bankruptcy or liquidity crisis and other things keep popping up. which makes people increasingly distrustful of keeping their money in the bank. so that moving our assets by buying bitcoins and storing them has become an alternative way that is being done a lot at this time.

[Japinat]

not only because of a natural disaster crisis. even in the world of banking even now is experiencing a crisis. bankruptcy or liquidity crisis and other things keep popping up. which makes people increasingly distrustful of keeping their money in the bank. so that moving our assets by buying bitcoins and storing them has become an alternative way that is being done a lot at this time.

During a crisis, the inflation rate will also increase. However, it's a known fact that Bitcoin is not affected by inflation since its supply is limited. Additionally, I believe that its demand will increase over time, especially when fiat currency is struggling. Bitcoin can be a good investment, but it's important to always look at the long-term picture, as that's where you'll achieve ultimate success.

[Betwrong]

~ While people care and think about their loved ones in the time of crisis, some people also do think about their money too,
what would be the safty and the value of their money in bank during this crisis and even how to get it out  ,but if you're someone that has some of your funds stored in Bitcoin you will be less worried, and a bit more in advantage than someone who has all his funds in the bank . Take for instance the current banking crisis we have in the United States and Nigeriaw where people got restricted to access their funds, and inflation as result of war in Russian and Ukraine.

I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.

[Ojima-ojo]

I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.

Actually, 10+ years is really a considerable long term indeed but the question is how many of Bitcoin investors will be able to hold through all the time till their arrival at that stage because 10 years is really a long time to be considered for a speculative investment like bitcoin.

Don't misunderstand my point, what I mean is that if one could possibly reduce the waiting/holding time to 5+ depending on your age and the nature of your invested fuanywaysways.

[Vaskiy]

I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.

Actually, 10+ years is really a considerable long term indeed but the question is how many of Bitcoin investors will be able to hold through all the time till their arrival at that stage because 10 years is really a long time to be considered for a speculative investment like bitcoin.

Don't misunderstand my point, what I mean is that if one could possibly reduce the waiting/holding time to 5+ depending on your age and the nature of your invested fuanywaysways.

10+ years is considerably long and we're not sure of the next minute. Holding for such long years and we're not able to enjoy the outcome is really bad. Right choice is to move along with the market. Just fix the years of holding, in between based on the market movement book the profit and find the opportunity to reinvest. This would be better than just holding for 10+ years.

[adzino]

Wouldn't disagree with what you are saying here. Bitcoin is actually a good alternative to save your money. When things get messy with the economy or there's some sort of crisis going on, Bitcoin can be a real game changer during those bad times. It's not controlled by the government or anyone, so it's not gonna be affected by any monetary restrictions that the government might place. Plus, you can send Bitcoin anywhere in the world without needing a bank or anything like that. Super useful if banks around you are struggling or just not available (don't forget how banks can stop you from accessing your own money during those days!). And the best part about bitcoin is that you're totally in control of your own money. No need to rely on someone else to keep it because you are your own bank. As long as you know how to keep your funds safe and secure, there is no one that can access or control your funds. But do your own research before going all in on crypto currencies. They are sometimes extremely volatile which might end up hurting you more than you expect.

[nur rochid]

I just want to add that investing your spare money in BTC is always a good deal long term, but short term, it is not always so. By "long term" here I mean 10+ years, and by "short term" I mean something around 2 years. I think, these days, when Bitcoin is still under $30k, and even when it will be under $40k, investing in BTC will be a good deal even short term. I may be wrong, like anyone else. Use your own head. But that's what I think about the current situation we are in.

Actually, 10+ years is really a considerable long term indeed but the question is how many of Bitcoin investors will be able to hold through all the time till their arrival at that stage because 10 years is really a long time to be considered for a speculative investment like bitcoin.

Don't misunderstand my point, what I mean is that if one could possibly reduce the waiting/holding time to 5+ depending on your age and the nature of your invested fuanywaysways.

the same is the case with other investments, maybe if it's only 2 years the results are not yet clear or even you are still losing money. but in the long term like 10 more years, maybe it will benefit. but if we talk about the best return, then the moment becomes a determining factor to get the maximum result. suppose we target to hold it in 10 years, it turns out that in year 9 the price has soared, then I will sell it at that moment

[Ojima-ojo]

10+ years is considerably long and we're not sure of the next minute. Holding for such long years and we're not able to enjoy the outcome is really bad. The right choice is to move along with the market. Just fix the years of holding, in between based on the market movement book the profit and find the opportunity to reinvest. This would be better than just holding for 10+ years.

Exactly my point, knowing the right timing has its advantage because no one can tell what the price of Bitcoin will be in the next 10 years, it is possible that Bitcoin price at that time may be lower than now even though the chances are slim due to multiple bitcoin halving that will happen between that time space that could possibly trigger the price of Bitcoin to rise but again we are not certain when that rise will happen that means there is also a possibility for a drop too.

But if one holds for a sufficient time not too long let's say considerably around 5 years it will become easier and better to cut profits along that line because the possibility that the price will make an all-time high between that time is high, so waiting won't become a death trap for Bitcoin holders who may discover that the price in 10 years is way below the current price.

[Ozero]

I think if you're in a country with high inflation and a tendency to use banks to rob the people, Bitcoin is a floatation device in a sea of horrific financial conditions.  I couldn't imagine living in a country with 100%+ inflation.  It's hard enough in the US with inflation where it is.  Having your savings taken from you by your bank, or inflated away to nothing by your government is a real problem that a lot of people face.  This is hard for westerners to comprehend, but I think as corruption becomes more clear in the west and governments become more desperate, the value that Bitcoin has for everyone will become quite apparent. 

In any case, I live in Ukraine, I prefer to keep my savings in top cryptocurrencies, such as bitcoin and ethereum. The Russian invaders have already destroyed about 30 percent of the Ukrainian economy. Ukraine is holding on largely thanks to international financial and material assistance. But there are no guarantees that this will be the case even after the victory over Russia. Inflation can sharply increase in the country, so the cryptocurrency will be a salvation for our savings. True, during periods of such cataclysms, the safety and security of cryptocurrency assets plays a paramount role, because absolutely the entire territory of Ukraine continues to be periodically shot through by expensive Russian missiles.

[Uruhara]

It depends on where the crisis took place for instance if it is in a developed country, we can say bitcoin can be a saving grace but in a developing country like mine, I don't pray for any because if it happens to hold bitcoin can't have any advantage over fiat other than you are sure your investment is secure.

agree but a little adds to all depending on our management in managing finances, and investing, if our finances are good in any crisis our finances will be safe, without having to interfere with our BTC investment

Correct. as an example. if we are in a country that has hyper inflation then we will be really grateful to have moved our assets from our country's fiat currency into bitcoin before a hyperinflation occurred in our country. because when hyper inflation occurs in a country, the country's currency will experience a decline in value (a drastic decrease in value). even if you do a google search we can find several countries where the currency has become worthless. they even go to the market with a sack of money just to shop for their daily needs. well of course in a country like that holding fiat is really more risky. so that in countries like that people try to save their wealth by transferring it into gold. and if they are familiar with bitcoin then of course bitcoin will be the choice they make.

[Inwestour]

Correct. as an example. if we are in a country that has hyper inflation then we will be really grateful to have moved our assets from our country's fiat currency into bitcoin before a hyperinflation occurred in our country. because when hyper inflation occurs in a country, the country's currency will experience a decline in value (a drastic decrease in value). even if you do a google search we can find several countries where the currency has become worthless. they even go to the market with a sack of money just to shop for their daily needs. well of course in a country like that holding fiat is really more risky. so that in countries like that people try to save their wealth by transferring it into gold. and if they are familiar with bitcoin then of course bitcoin will be the choice they make.

There are many examples of hyperinflation, and there have even been cases in history when buying gold did not save people from this, because the state simply seized all the gold from the population.

Now, in the context of the global crisis, inflation has become a problem for everyone, even developed countries feel its impact, and in less developed countries the situation is even worse. Therefore yes, bitcoin in our time is an excellent tool for preserving the value of our funds. We live in a unique time, and whoever understands this and buys bitcoin will get a very good advantage, and will be able to survive most of the possible crises.

[Lamkuthang]

My view is yes, During times of crisis to hold Bitcoin can be profitable because of its decentralized nature. In many crisis-hit areas, traditional financial institutions may be unavailable or unreliable, leaving individuals without access to their money. However, with Bitcoin, individuals have complete control over their finances and can access their funds at any time.

Additionally, Bitcoin's limited supply and decentralized nature make it an attractive store of value during times of inflation or economic uncertainty. By holding Bitcoin, individuals can protect their savings from the effects of hyperinflation or government intervention meaning overall, Bitcoin provides a safe and accessible alternative to traditional banking, making it a valuable asset to have during times of crisis.

[ancafe]

More precisely it was affected by natural disasters, the crisis that befell Turkey is not the same as the case with the crisis that befell Syria. Natural disasters will hinder any growth in the country, the case of the war that is happening in Syria will make it difficult for people to get out of the economic gap and the two countries are experiencing different conditions from the financial crisis that is currently happening in most other countries.

This crisis has forced many to start looking for an alternative way to save the money, and bitcoin is the best store of value at this point, with Bitcoin, you have total control over your finances and Bitcoin help to reduce the bank to becoming just a Junction or bus stops were our money can just pass through to carry out a transaction or exchange aside from that.

At this time it is not a wise decision to teach this to the two countries on this matter, they are facing bad conditions in the economic sector and now what they need is stability and sustainable economic recovery, so they can live normally as before. The presence of Bitcoin may only be utilized by a handful of people who are experiencing natural disasters and cases of war that occurred in the two countries. Bitcoin can be a form of donation to help them out of financial difficulties, but in the case of storing value through investment his is not the right time for them.

Global economic recovery in the country must be stable first, so that the function of bitcoin for investment assets can work and I think it is a little excessive to force investment if their country is experiencing a natural disaster or war, except for individuals who have a much better financial level.

[Abiky]

There are many examples of hyperinflation, and there have even been cases in history when buying gold did not save people from this, because the state simply seized all the gold from the population.

Now, in the context of the global crisis, inflation has become a problem for everyone, even developed countries feel its impact, and in less developed countries the situation is even worse. Therefore yes, bitcoin in our time is an excellent tool for preserving the value of our funds. We live in a unique time, and whoever understands this and buys bitcoin will get a very good advantage, and will be able to survive most of the possible crises.

If the government seized Gold in the past, what makes you think it won't "seize" Bitcoin in the future? More people are turning to crypto/Blockchain tech as Fiat currencies lose traction due to ever-increasing inflation rates. Central banks' efforts to control inflation have been widely unsuccessful, making BTC a more attractive alternative to existing Fiat.

If the government outlaws the possesion of Bitcoin, that doesn't mean it's the end of the world. The pioneer cryptocurrency is decentralized and censorship-resistant, so people will find a way to bypass government restrictions. The government will have no other choice but to join the revolution. Who knows if BTC is poised to take over the world as the leading reserve currency? Just my thoughts

[worldofcoins]

The global economy faces various challenges, including inflation and financial crises in some regions. In situations where traditional financial institutions are not accessible or trustworthy, Bitcoin can be a viable alternative for storing value and conducting transactions. Bitcoin can be a valuable tool for individuals looking to keep weight and execute trades in a decentralized and secure way, particularly in situations where traditional financial institutions are not accessible or reliable.