Bitcoin and Bad Economy

[Baofeng]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group.

I guess historically, Bitcoin has been tested to be a good hedge against economic uncertainties. The first use case of it is against the pandemic, we've seen that every traditional market has been affected when the news about the pandemic came out and how scary it was that time. Bitcoin goes down <$4k, however, we quickly bounce back and we even reach a new all time high in 2021. So it make sense for anyone, not just investors, but even just average joe, if they are smart to look for a asset to put their wealth to mitigate the risk of inflation.

But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

Any form of investment has risks not just Bitcoin though, it's just up to us how we are going to take it. Majority see the risk and volatility as a good indication so they trade and try to make money out of it. And with that, not sure if you need to talk to "experts". This is a non-traditional market, everyone here can be experts and can advise you and make their own wild and educated guess as where the price would go.

[Helena Yu]

Do you think those experts will give you a good advice regarding Bitcoin investment? they might doesn't know how Bitcoin works.

I still saw a lot people which claim to be experts were talking about Bitcoin is decentralized and no one can stop it, but at the same time they suggest anyone to store Bitcoin in Binance because they say Binance have SAFU

It's contradict the definition of decentralization since you're holding your coins on a centralized site.

[Sayeds56]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

The basic purpose of creating Bitcoin payment method was to provide safeguards to your fiat money against consistent devaluation due to unlimited supply of fiat currencies controlled by central banks of the countries and this is the reason it is widely regarded as one of the best performing assets. It is true that it very risk due to its extreme volatility but holding it for long term is always beneficial.

[Smartvirus]

It's smart to do your own research and talk to experts before you invest any money.

Are there any experts in cryptocurrency?

Maybe they could speculate to a pin point accuracy the or even within a tens range the next price of bitcoin in few days or a week.
Perhaps they could advice on the next coin that would go to the moon....

There are no such person or group that could be regarded go be an expert on the course, non that I know of but, we've got those that try more than others.
It is actually a right idea to always talk with those that know more about a field than yourself before you go in but, their ideas are not ultimate still so, you have to subject it to further verifications and don't stop at one.

Bitcoin is volatile and not exactly a store of value as one might hope due to its volatile nature but, it could as well increase value and that is dependent on the timing you give it.

[Moeda]

But when we talk about an edge above inflation,  then we should truly hold Bitcoin against the traditional currencies who are slaves to inflation and money printing scam from
 the central bank.

If we talk about the advantages of investment, it is clear that Bitcoin is in first place, even now Bitcoin investment has beaten investment by large companies such as the NASDAQ. In period 1 the return of BItcoin reached 69% and volatility was at 59. So Bitcoin investment now will be everything, it's just how do we minimize negative things from happening.

BREAKING‼️ #Bitcoin returns in Q1 exceeded ALL assets and was the only one whose gain exceeded the 90-day volatility - Bloomberg Intelligence

If anyone still doubts Bitcoin at this time, of course we need to ask how far they understand Bitcoin. Even a few days ago Michael Saylor just bought an additional 1,045 Bitcoin. This suggests the future for Bitcoin will be bright in the coming months, or next year at the latest.

[AnonBitCoiner]

There is ko any currency which has no risk and because of these risky situations we cannot avoids its beneficial aspects. Bitcoin is the only way which can protect your money in a case when you have complete information that what to do during these situations.

By talking to expert he will always suggest you to put money into bitcoin because it cannot reduce your money. Later is the luck but as we see towards the history so bitcoin success is 100 percent if carry out correctly.

People are not afraid with any other type of business but they get frightened with investment in Bitcoin but actually they should think that there is no any business which is free from risk but the main thing is out reaction and use of mind that in which direction we use it whether in a successful way or unsuccessful way.

[hannahB4]

Holding Bitcoin is a good asset and an investment opportunity, but you can't hold fiat that same way because idle fiat won't yield any profit rather you will make a loss. Bitcoin has nothing to do with a Bad economy at least not for my country.

[serjent05]

Do you think those experts will give you a good advice regarding Bitcoin investment? they might doesn't know how Bitcoin works.

I still saw a lot people which claim to be experts were talking about Bitcoin is decentralized and no one can stop it, but at the same time they suggest anyone to store Bitcoin in Binance because they say Binance have SAFU

It's contradict the definition of decentralization since you're holding your coins on a centralized site.

Not all people are fakes.  There are some gurus that share their knowledge about Bitcoin and the possible trend which can give their audience the opportunity to earn profit.  One of them is Bob Loukas where if we happen to ride his predictions and his challenge, we might be in a huge profit by now.

Those who suggest storing our crypto in centralized exchanges is either wannabes' or being sponsored or paid by exchanges.  One thing should be done, we should confirm anything we heard in order to not be misguided.

There is ko any currency which has no risk and because of these risky situations we cannot avoids its beneficial aspects. Bitcoin is the only way which can protect your money in a case when you have complete information that what to do during these situations.

By talking to expert he will always suggest you to put money into bitcoin because it cannot reduce your money. Later is the luck but as we see towards the history so bitcoin success is 100 percent if carry out correctly.

People are not afraid with any other type of business but they get frightened with investment in Bitcoin but actually they should think that there is no any business which is free from risk but the main thing is out reaction and use of mind that in which direction we use it whether in a successful way or unsuccessful way.

In general there is no investment that has no risk.

[lixer]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

Not some but most investors think that way, and that is a fact. Economies that go bad from good surely accelerate the adoption rate of Bitcoin only if there is enough awareness among the people living within the country that is suffering from a bad economy or an economic crisis. People put their money in investments that will keep them safe from devaluation.

Bitcoin is probably one of the best options people can have in such situations, but it isn't the only option out there. I think real estate and gold are a couple of assets that can be used alternatively to safeguard your wealth from the effects of a bad economy.

[KingsDen]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

Since ever bitcoin was created there has been a call and clamour for a massive adoption of Bitcoin, but it is not happening any soon. Yet there is an appropriate and steady adoption of Bitcoin, even if it is not massive.
Then there is a certain condition that propels bitcoin adoption and that is when there is an economic downturn or when there is some certain unfavorable conditions in the economy such as war.

Bitcoin is being recognised during this unfavourable times because the people would believe that bitcoin will be the safe place for their money instead of leaving it in a centralised government financial institution.

So should there be more war and economical disturbance in order for bitcoin to be massively adopted? I  think no! is the answer.

[Yatsan]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

Not some but most investors think that way, and that is a fact. Economies that go bad from good surely accelerate the adoption rate of Bitcoin only if there is enough awareness among the people living within the country that is suffering from a bad economy or an economic crisis. People put their money in investments that will keep them safe from devaluation.

Bitcoin is probably one of the best options people can have in such situations, but it isn't the only option out there. I think real estate and gold are a couple of assets that can be used alternatively to safeguard your wealth from the effects of a bad economy.

Other assets such as gold would matter more. Also, this industry I guess is not safe from inflation simply because its value is still based on fiat currency. And this is because of issues concerning mass adoption of this technology. This technology is not yet ready to be used as a mode of payment because of its volatility and will still be more beneficial for investors as an investment to generate profit. No matter how we push usage of cryptocurrency, if the government would still promote usage of fiat, then things won't change; you'd be as well be pushed to do the same thing. Unless you are willing to pay more than you're supposed to because its equivalent on a transaction would still be fiat.

[GreatArkansas]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down.
(....)

Even though there is no assurance that Bitcoin's value will rise in the future, some investors think it might represent a worthwhile long-term investment opportunity.
Treating Bitcoin as an investment is the same with other assets too, like non-crypto related, where risks are always there.
Before making any investment decisions, it is essential to conduct your own research, comprehend the risks involved, and speak with financial professionals.

[Supreemo]

it's because they think that if their own country's currency goes down, they can still use foreign currency in a form of bitcoin since crypto can be used by anyone in different parts of this world if they have access to internet. think about it, let's just say you're from US and if ever the currency goes down, will you be ever to use Chinese currency which is Yuan? of course not right, if ever there's a possibility that you might be able to use them, it won't be that easy as what bitcoin can offer.

it is one common benefit in using crypto, which is the freedom to use it as long as it is accepted as a legal tender. i do agree that bitcoin is already on par with our traditional assets, but if ever there are skirmishes happening in the big nations or let's just assume there will be a nuclear threat, money will be worthless and all the assets including stocks. you might think that it will be the best time to buy before it skyrocket again but you won't know how long the skirmish will last. economy is already considered as an external factors which can greatly affect all assets that's the fact that we need to face.

[Sayeds56]

Holding Bitcoin is a good asset and an investment opportunity, but you can't hold fiat that same way because idle fiat won't yield any profit rather you will make a loss. Bitcoin has nothing to do with a Bad economy at least not for my country.

Indeed holding Bitcoin for long term can be beneficial investment decision as it is generally considered hedge against inflation due to its limited supply. However, its role to impact economy of any country in good or bad way is debatable topic. El-Salvador was the first country to adopt Bitcoin as legal tender with aim to improve their economy, but their experience didn't turn out very successful due to volatile nature of Bitcoin.

[borovichok]

Indeed holding Bitcoin for long term can be beneficial investment decision as it is generally considered hedge against inflation due to its limited supply. However, its role to impact economy of any country in good or bad way is debatable topic. El-Salvador was the first country to adopt Bitcoin as legal tender with aim to improve their economy, but their experience didn't turn out very successful due to volatile nature of Bitcoin.

Holding Bitcoin for long-term come along with enormous rewards. Bitcoin is volatile and we should be able to understand the hand written on the wall. Bitcoin have saved us in the past and we shouldn't jeopardize it's volatility for granted. Bitcoin displayed a promising future following it's solid road maps. El Salvador implementing Bitcoin as a legal tender extends the country into a digital age ahead of other nations, but they experiencing economy crisis because bitcoin is volatile and it's operation affects almost everything in the country.

[Frankolala]

People think Bitcoin could be a way to protect their money if the economy gets uncertain, especially if there's inflation or the value of money goes down. This is because there's only a limited amount of Bitcoin and it's not controlled by any one government or group. But it's also important to remember that Bitcoin can be risky, just like any investment. It's smart to do your own research and talk to experts before you invest any money.

Do your own research is the best. How will you know who is an expert in bitcoin ? We have seen so many people who claim to be bitcoin experts on social media giving wrong information on bitcoin speculation. Bitcoin is risky,but you will benefit from it,if you invest in long term.

All you need to do is to stick to the forum and learn from here before starting your bitcoin journey so that you will keep on learning about your investment ups and downs,and how to make progress in it. Bitcoin is sure an asset and also a store of value to safe you from devalue of fiat due to inflation.

[death69]

Alright, Bitcoin's a gamble, but I'm all-in on its prospects as a fresh financial ecosystem. As you noted, no single government or squad's got a grip on Bitcoin, so it might just outrun traditional currencies in the stability and security race. With the digital revolution in full swing, peeps are craving decentralized and bulletproof financial systems. Bitcoin could be the hero we need, offering a rock-solid way to stash and move our dough. Of course, there's no shortage of risks and head-scratchers tied to Bitcoin. But I reckon that with some solid research and investment chops, we can sidestep those hazards and cash in on this uncharted territory. So, let's gear up for the future and back Bitcoin's potential!

[SquirrelJulietGarden]

Even though there is no assurance that Bitcoin's value will rise in the future, some investors think it might represent a worthwhile long-term investment opportunity.
Treating Bitcoin as an investment is the same with other assets too, like non-crypto related, where risks are always there.
Before making any investment decisions, it is essential to conduct your own research, comprehend the risks involved, and speak with financial professionals.

Bitcoin is not different than other investments with risk exists together with chance to gain profit. Risk with Bitcoin is even higher than other investments because regulations on Bitcoin and Bitcoin mining are unknown in future.

It is biggest risk for Bitcoin because with Bitcoin, without Bitcoin miners, there will be no confirmation for Bitcoin transactions on its public ledger. In addition, with Bitcoin, you have to store it in your own wallets, not in online wallets and in many countries you will receive no support from governments, police to find scammers or hackers who steal your bitcoins.

Bitcoin is sure an asset and also a store of value to safe you from devalue of fiat due to inflation.

Bitcoin and fiat currencies have different supply models. They are both inflationary but with Bitcoin, you know its total supply (21M) but you don't know total supply of fiat currencies (but you know their supplies will only increase more and more with time).

Bitcoin solves devalue problem from inflation and a rest challenge is how to increase its demand. With more adoption in future, demand will increase and I believe price will be higher.

[Sayeds56]

It is biggest risk for Bitcoin because with Bitcoin, without Bitcoin miners, there will be no confirmation for Bitcoin transactions on its public ledger. In addition, with Bitcoin, you have to store it in your own wallets, not in online wallets and in many countries you will receive no support from governments, police to find scammers or hackers who steal your bitcoins.

You have highlighted a valid point about involvement of miners to confirm Bitcoin transductions and it can cause delay in transaction if there is sudden decrease in mining activity, however we should understand that it is their vested interest to remain active as they charge fee on every transaction.As far as support from government in case your wallet is hacked, it depends on how much friendly government is towards Bitcoin and we should continue raising our voice to adopt it is as legal method of payment which is in the best interest of everybody.

[|MINER|]

Holding Bitcoin for long-term come along with enormous rewards. Bitcoin is volatile and we should be able to understand the hand written on the wall. Bitcoin have saved us in the past and we shouldn't jeopardize it's volatility for granted. Bitcoin displayed a promising future following it's solid road maps. El Salvador implementing Bitcoin as a legal tender extends the country into a digital age ahead of other nations, but they experiencing economy crisis because bitcoin is volatile and it's operation affects almost everything in the country.

It is true that El Salvador will definitely be beneficial in the future if they can properly manage their country's economic sector in addition to Bitcoin holdings. Why I said this is because since El Salvador has accepted Bitcoin in their legal tender, it will increase their Bitcoin adoption and also when the Bitcoin market is down, their economic condition may be worse and survival is the main factor here. If they can cross this intelligently then I think they can be ahead of other countries in the crypto industry in the future.