[NEWS] Bitcoin Provides Insurance Against Fiat Currency Failure

[mejarm]

On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Source: https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

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[BVeyron]

On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Source: https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

I also think that cryptocurrencies in general have a chance to save money in case of fiat inflation. But it also has risks of failing to save funds. The main riddle in cryptoworld is the possibility to save the funds with crypto in case of inflation...

[Doan9269]

On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Source: https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

I also think that cryptocurrencies in general have a chance to save money in case of fiat inflation. But it also has risks of failing to save funds. The main riddle in cryptoworld is the possibility to save the funds with crypto in case of inflation...

Since inflation is not possible to occur in cryptocurrency, choosing bitcoin in crypto could also be the best decision to take in other not to fall into the other hand with the altcoins experience from being liquidated, but the best alternative here is the use of crypto and bitcoin to which can not put one in danger of missing out for any purpose in the future, which is part of the edge it has over every other cryptocurrencies, it's can serve the best asset and investment to made in a decentralized network without the fear of loosing or missing out

[Hamza2424]

Before doing this ensure the proper education related to this Market is required and you even can't be dependent on any broker haha. Yes, I do agree and support this motive that we should consider Bitcoin as a more safe and more stable holding as compared to fiat money because of inflation. But there are a few things or I should qualities you need to buildup before sensing it more stable.

Be calm,
Having Control over emotions
Be consistent
Be updated
Be Determined.

With these minor requirements you can say that Bitcoin is a more stable investment compared to others, Don't take the crypto market as a stable investment mark my words it's only Bitcoin.

[Faisal2202]

On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Source: https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

But Hard assets aren't the ones that can be touched? because BTC can not be touched as it is not present in physical form. Other than this, BTC has all the other characteristics of Hard assets. That's why Bitcoin Enthusiasts used to say "BTC provides a hedge against Inflation" Many people do not accept this statement as they have short-term research but if they look at the long run then they will understand BTC has proved itself the best hard asset or hedge against inflation. As, someone has already stated the effect of the Debt ceiling on BTC, and these two terms (Debt Ceiling, Inflation of Fiat currency/inflation) if collided then no wonder the economy of US will drop along with the ones having US dollar in Reserve.

[South Park]

On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Source: https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/

I also think that cryptocurrencies in general have a chance to save money in case of fiat inflation. But it also has risks of failing to save funds. The main riddle in cryptoworld is the possibility to save the funds with crypto in case of inflation...

Since inflation is not possible to occur in cryptocurrency, choosing bitcoin in crypto could also be the best decision to take in other not to fall into the other hand with the altcoins experience from being liquidated, but the best alternative here is the use of crypto and bitcoin to which can not put one in danger of missing out for any purpose in the future, which is part of the edge it has over every other cryptocurrencies, it's can serve the best asset and investment to made in a decentralized network without the fear of loosing or missing out

Inflation happens every time a miner mines a block, as now we have more bitcoin on existence than before that block was created, the difference is that the inflation on bitcoin is completely under control, we have a very good idea of how high it will be at any point in time and it is unlikely it will ever be changed, plus with the halving the rate of inflation is going down, compared to the fiat system in which inflation can happen at any time as long as the central bank decides that is what is the best for the government in turn and other powerful politicians, the system employed on bitcoin is the fairest and it makes it one of the best hard assets in which you can invest your money.

[Vaskiy]

Cryptocurrency assure to function against the inflated fiat currencies, but it is also noted that bitcoin can also be at the same situation (bearish) at the time of fiat failure. With bitcoin we should have the patience, and it assure you with the growth. The limited supply is the best thing that makes bitcoin stand high against the inflation. It can also be used as a multipurpose asset, which is the best part of bitcoin and other cryptocurrencies. The varying growth lets user to generate profit through trading practice, holding gives increase in the portfolio value, can be used for transaction.

[livingfree]

It's been long overdue to realize that by many other personalities in the finance and corporate world. But if you're for the news, sometimes choose a better source and not that one that you've linked.

You know that many doesn't like that website as it has been against bitcoin. Despite naming its entirety as bitcoin, it's more with Bitcoin cash and should have replaced that domain name and add a word 'cash' on it.

[hatshepsut93]

Bitcoin can only become a safe haven if enough people truly believe that it is a safe haven. If majority of holders are just traders who buy and sell it all the time, then it won't have any such properties, it will be crashing hard because dumping when the crash is just starting is a smart thing to do, even at a loss, as you will rebuy later at the bottom.

And I have a feeling that many of the people who are publicly saying that Bitcoin will protect them from inflation don't actually believe in that, they just try to pump their investment so they can dump it at higher price.

[Mr.right85]

Bitcoin can only become a safe haven if enough people truly believe that it is a safe haven

That's the hard truth. As much as we want, hope and try to see bitcoin to be, it would only be if majority of we the people see it to be or place it in a position of being that which we intend for it.
Fiat has got issues and those to whom authorises or backs it up but, bitcoin has got just the people. The whales, petty traders and holders combined. The more people get to buy in the idea, the more value it adds to itself.

It's been seen to serve as, you can't just issue new coins to serve an inflationary purpose or withdraw it from the system and the reverse results. It works solely based on how the masses perceives the dynamics that happens on the market. This makes it more better in serving public interest than we can say for fiat.

[hd49728]

If you are fearful about fiat currencies and banks, switch to use and invest in Bitcoin, you should not store your bitcoins on exchanges.

Reminder: do not keep your money in online accounts

You won't have safety if you store coins on exchanges. No safe heaven with centralized exchanges and your accounts. Even founders, CEOs of those centralized exchanges don't know what will happen with their business in future.

Choose wallet (non custodial) to use: https://bitcoin.org/en/choose-your-wallet
Recommended wallets: https://www.lopp.net/bitcoin-information/recommended-wallets.html

[Velemir Sava]

Cryptocurrency assure to function against the inflated fiat currencies, but it is also noted that bitcoin can also be at the same situation (bearish) at the time of fiat failure. With bitcoin we should have the patience, and it assure you with the growth. The limited supply is the best thing that makes bitcoin stand high against the inflation. It can also be used as a multipurpose asset, which is the best part of bitcoin and other cryptocurrencies. The varying growth lets user to generate profit through trading practice, holding gives increase in the portfolio value, can be used for transaction.

That right and we will witness the market's response to the speech delivered by Mr. Powell, the Chairman of the Federal Reserve today.

[Dunamisx]

Before doing this ensure the proper education related to this Market is required and you even can't be dependent on any broker haha. Yes, I do agree and support this motive that we should consider Bitcoin as a more safe and more stable holding as compared to fiat money because of inflation. But there are a few things or I should qualities you need to buildup before sensing it more stable.

Be calm,
Having Control over emotions
Be consistent
Be updated
Be Determined.

With these minor requirements you can say that Bitcoin is a more stable investment compared to others, Don't take the crypto market as a stable investment mark my words it's only Bitcoin.

Bitcoin having edge over the fiat financial system and inflation doesn't mean we shouldn't be deliberate in the use of bitcoin as a currency and asset, because this same digital asset has make some to fall out of their ignorance, lack of information about a particular thing can cause a huge loss and damage, when you know less about bitcoin, then such user or investor in prone to danger, some things were better done than left undone, which means, one step at a time, everything has a procedure on how we should engage ot utilization and not by our own assumptions.

[DeathAngel]

Fiat currency loses purchasing power every single year through inflation. Buying bitcoin protects you against being robbed by your government every year through their stealth tax, aka inflation. The performance of bitcoin price vs fiat price is incomparable. You can protect your purchasing power & wealth by buying bitcoin. It’d be dumb to not buy a little.