If the global economy collapses what's the first thing you do?

[tread93]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

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[bluebit25]

Agree with OP about the changes in the economy in recent years and even in the current context, actually if we look back we have achieved a lot but it seems that it is not enough to continue, the change is necessary and of course adapting to that change to avoid being left behind also requires attention. Not only bitcoin is getting attention, but I also see many new fields and industries appearing that completely change the way they operated before. However, in this forum, when we know about bitcoin, we all believe that the positive impact it creates, I personally am not completely sure but what it has been doing is almost Exactly what we all expected.

[dothebeats]

I agree with you that there is an obvious shift that is happening in our economy as more and more changes are happening and soon we will feel just how much the impact of these changes is. So if we really want to survive we have to adapt to these changes that are evidently coming. Aside from the obvious of holding on to bitcoin and focusing more on my investments, I'd probably put much effort into keeping an eye on the market and doing research on what the best business will be and if it will be a good time to launch one or to just hold off for a little more. In times like this it is best to do informed and always be updated as each decision may lead to consequences, both positive and negative.

[Don Pedro Dinero]

The first thing I generally do in my life is not to prepare for unlikely events. The more improbable the less I prepare. Instead, I prepare for the probable ones. I am prepared for a crisis, and in fact I would say we are in a mini-crisis with the inflation problem that we have, but not for collapse. If it comes, we'll see what I do.

It seems that the OP is confident that bitcon is going to save him from collapse but if it's so big that there are prolonged and constant power outages it's not going to do him much good. If it's a Mad Max collapse the only thing he's going to need is arable land with water and weapons, little else. Maybe bitcoin and gold will help, but it won't be essential.

But I'm not preparing for such scenarios.

[tabas]

What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Well, it shouldn't be just us that should prepare for any economic consequence that will happen globally but since we're in a specific forum and majority of us here are bitcoin people. I think it's no brainer that everyone has to prepare for any major downturn economically and like saving as much as we can, and it is possible that many will have to sell their holdings if it turns out that they have no choice left but to sell their very last bitcoin even we're not yet in a bull run. Anyway, that's an event that's okay to sell those because if you have no other option and that's your major choice since minor ones won't help you to cope up. There is nothing that much that we can do, it's hard to stack up when you've sold already because you'll feel that you're cheated by the market of how it's going to be expensive soon. Personally, I'd lessen my spending into nonsense things although I don't know what nonsense spending I am doing right now since majority of my expenditures are all essentials. Maybe downsizing from there would be the start and adjustment.

[mindrust]

If the global economy goes down, everything but the commodities will go down with it. I would move to a farm house, load up on clean water, dry food, bullets and some oil. Btc would also be a good choice in this environment. Since the dollar is a currency and bitcoin is both, when the dollar loses its intrinsic value, every other commodity will go to infinity against the dollar, btc too. However this is not going to be a friendly environment for any of us so it will be too dangerous to make trades. I would rather prefer the dollar to survive through this mess but I also know it is not possible anymore.

[Hatchy]

Sometimes, most people would say they only fear what they can see, but for me I love preparing myself against a potential threat, "the fear of the unknown". things that I think has possibility of happening. For a long time now, the economy has experienced a lot of down turn which might just be as a result of different world power at play. For a situation, where even you money might not be able to save you, it's best to create new strategies. as bitcoiner, we might just be as lucky because even in times like this, we have this belief that Bitcoin might just be a way to survive of which it is. But from

constant power outages it's not going to do him much good. If it's a Mad Max collapse the only thing he's going to need is arable land with water and weapons, little else. Maybe bitcoin and gold will help, but it won't be essential.
But I'm not preparing for such scenarios.

You can see that without electricity, internet connection, your Bitcoin holdings could become worthless. This is why, as you invest more in Bitcoin and hold onto it, it's important to remember that there are other assets you can consider investing in. These alternative investments might help you during times of crisis.

[Lida93]

Hitherto to this question the global economic hardship is before now dwelling with us and some of us has gotten use to it and had adapted to the hardship that we often forget it does exist already. It's just that the economic hardship is only getting worsening on a daily basis.

And we as bitcoiners if it get so worse as some economic experts has speculated then I am sure our bitcoin holding would save a lot of us because many holders would be forced to sell to feed and settle some other hefty financial challenges. Investing in agriculture will be the best life saving in those harsh times because what everyone will care for most importantly is foodstuffs. So if you don't have high amount to invest in agriculture you can still have a small farm for subsistence farming to cushion the effect.

[Gallar]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right?

Of course that's true. Because we must always be ready and always alert to face all economic conditions that may occur. Because current economic conditions are very difficult to predict. Because as we know, war between countries and inflation have hit several countries. So it is not impossible that all of these things will happen to the country we live in. So thorough preparations to face all these conditions must be made from now on. Just like having investment assets such as bitcoin, this can certainly be said to be a very good first step. Because if inflation occurs, having investment assets such as bitcoin will at least reduce the impact.

What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I personally will definitely save on expenses and will continue to put my money into the investment assets that I own (bitcoin and also gold). Apart from that, I will also develop the business that I have established well. Because if now I am not serious about developing the business I founded, I am worried that the global economy will suddenly collapse without warning and if it is like that, the situation will definitely not allow me to continue actively developing the business. So the important point for now is, you must be able to make the best use time, as wisely as possible, and as productively as possible.

[bittraffic]

Sell all the coins I have in the exchanges, thats what I would do and then hold cash.
But the coins in my wallet stays. If we are just aware what the government will do I think we can decide what exactly to do with our coins.

Because if there ever a chance that government will ban and confiscate our BTC like how they siezed gold from their citizen back in 1930 collapse, we'll be able to save ourselfs from the troubles. Give them coins I own but still have saved the fiat I have.

[michellee]

The first thing I would do if the global economy collapsed and had a negative impact on my country was to start buying basic necessities for my family. Basic necessities will become scarce because distribution channels are disrupted. And while basic necessities are still available, I will start buying enough.

And right now, I am still trying to have more Bitcoin as part of the preparation. Maybe at that time, Bitcoin was just starting to be used as an alternative currency like those who use digital payments. Apart from that, I will look for alternatives that can support me and my family to survive global economic difficulties.

But let's hope that doesn't happen. But if that happens, we may need to prepare some money, especially when we can't use Bitcoin to shop for basic needs. So we have two choices in buying the things we need and hope we won't experience difficulties.

[Despairo]

Collapse in global economy will not suddenly happen like in a day, there's will be a time every countries will have a problem about high inflation rate, demonstration, food shortage etc. Since I save almost all of my money in Bitcoin, I don't have to worry about that, but I will convert my Bitcoin to fiat and buy food as much as possible in order to survive. I also have a garden in my house, so I can plant many fruits and vegetable, so I still can survive alone without buying an expensive foods.

[slapper]

You're making it sound like BTC is a lifeboat in a bad economy. Fair enough. Diversified assets are the key to consolidate when the economy changes. But isn't there more to the key than just accumulating?

First, think about cash flow. In times of trouble, liquid asset are the most important. Can BTC be quickly sold off if needed? Second, regulatory environment. As the economy fall, countries might change the crypto laws. It's crucial to keep an eye on that front. Lastly, knowledge. Keeping up-to-date on how the market works can help you predict possible changes

Bitcoiners might also want to think outside of BTC. As important as "hodling" Bitcoin could be investing in real assets, knowing geopolitical currents around the world, and keeping an eye on emerging markets. Even though it sounds strange, a change in the economy doesn't just affect fictional coins; it affects the whole business world

[Fuso.hp]

There is a high probability of falling into global economic crisis. If a global economic crisis occurs, many people may lose their jobs or many businesses may suffer greatly, so we need to be cautious about this in advance. When the corona virus became a global pandemic, a large number of people lost their jobs, but those who had bitcoin investments along with their jobs or who were involved with bitcoin did not have a hard time surviving. Because all the activities related to Bitcoin can be conducted through mobiles, people who use Bitcoin have lived a good life at that time. As the global economic crisis may occur in the future, we need to be cautious and try to invest in other investment side including Bitcoin in whatever field of work we are in so that we don't suffer during the global economic crisis.

[sesterceshop]

If the global economy collapses, the first thing I do is cash out my BTC and buy a boat. I don’t trust any government or institution to protect me or my wealth. I would rather be self-reliant and independent on the open seas. BTC is great, but it is not the end-all and be-all of life. You need to have a balance between digital and physical assets, and be ready to adapt to any situation. I'd also stock up on food, water, ammo, and gold.

[MFahad]

Those who already have bought bitcoin are lucky individuals and they will receive a better position when the market grows but they must have ability to stuck to their decision.

The situations are completely against our hopes and we know that gathering of bitcoin is essential in such situations but the worth of each and everything is elevated that using your income in buying essential materials for home become hard therefore one cannot save such an amount to cover the daily needs so how one can think about investment?
The rate of gold and bitcoin both are reduced and we also have confirmed knowledge that very soon it will boost but we cannot do anything in such circumstances as everyone is in trouble that how to accommodate the expenses.

All those who have money and can manage to buy bitcoin will not find a time for bitcoin investment better than this so don't wait for more dip and gather how much you can.

[Kakmakr]

I have shifted a lot of my wealth into Bitcoin to prepare for a global economic collapse, but I am a bit of a "Preppie" and we are crazy. I am one of those people who see the Ukraine vs Russia war as a preparation for a full-scale war between BRICS and the "West" .... but that is only my opinion.

Why are North Korea visiting Russia? What happens if Russia is unsuccessful with the Ukraine war? These countries are using the Ukraine War as a testing ground for full-scale war.

I have also bought some "goods" that are popular to trade with, if something might happen in the future. Let's pray that I am wrong. 

[Fiatless]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I am not praying for or expecting economic collapse since it will have an unpleasant effect on everybody including Bitcoiners. Bitcoin will not flourish when the economy is bad because many people will not have money to invest in it. Even if you hodl bitcoin for a long time and make a lot of profit, it will have less value if the country is going through hyperinflation. This is because after you have converted your Bitcoin to fiat, it will not have much value.

My expectation is that my country's economy should flourish and let the price of Bitcoin keep rising and let adoption keep spreading. With less inflation and the rise of Bitcoin price, hodling will make a lot of sense. When more people adopt Bitcoin, the decentralization feature such as P2p will increase.

[Bureau]

What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Apart from holding an accumulation of more Bitcoin what we can do is educate the local community about Bitcoin. Contacting the local merchants and informing them about Bitcoin. The local community would be reluctant to hear about it and merchants won't pay any heed at first but with a systematic and planned approach we can convince them about Bitcoin. By systematic and planned approach I meant that first, we need to learn more about Bitcoin and then share it with our local community members who have knowledge about global economic activities by introducing Bitcoin to them. Although I feel many within our surroundings would have some knowledge about Bitcoin. What we need to do is to clear the negative news about Bitcoin.

[bayu7adi]

The collapse of the economy is not a jokes, and it shouldn't serve as a compelling reason to lure someone into buying BTC. Economic collapse sets off a domino effect, causing multiple sectors, and even entire countries, to crumble. This leaves everyone grappling with day-to-day challenges.

Inflation and food shortages become significant concerns. Frustration runs high, and people may start acting recklessly. At the point of chaos, it's not just your wealth that's at risk; your safety may also be on the line.

In my opinion, enticing people to buy BTC and capitalizing on a poor economic climate isn't entirely sound. While it's true that its price might surge during an economic collapse, you could be facing other threats to your health and security.

Hold Bitcoin only as needed for now. Don't be greedy.

[Sayeds56]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

It is true that many Bitcoin enthusiasts and investors believe in Bitcoin's role as hedge against fiat based currencies and economic uncertainties. While holding Bitcoin may prove good strategy to mitigate the impact of global economic meltdown should one occur in future. However, since inception of Bitcoin in 2009, there hasn't been a widespread global economic recession , therefore how Bitcoin reacts to such situation, it is yet to be seen. It is also possible that during the times of economic hardships people may choose to sell anything they have in their possession to buy food and healthcare services for their survival.

[Charles-Tim]

Sell all the coins I have in the exchanges, thats what I would do and then hold cash.

The best would be to withdraw the coins from exchanges and move them to noncustodial wallet where you have the full control of your coins.

If you do not want to hold bitcoin, hold assets like gold instead, or invest on physical properties. One of the results of economy collapse is declination of fiat value.

[Litzki1990]

If the global economy ever collapses, I may not be able to save the economy from collapsing, but if the global economy ever goes down, I might be able to survive it.
First, we are already hearing about the impending global economic crisis, which is why we are being forewarned. Big economists often write various articles about the economic crisis, I read those articles regularly. From reading economists' articles, I get the impression that we need to be cautious. Banks can go bankrupt if global economic crisis occurs so we need to save money in a place where there is no chance of losing money even if economic crisis occurs.

Since I am involved in cryptocurrencies, I plan to store my money in cryptocurrencies, hoping that I can survive the global economic crisis.

[fruktik]

It would be so simple. I’m not sure that after the collapse of the global financial system, everyone will immediately switch to paying in Bitcoins. Too much power will remain in the hands of those who had it. They won't let everything change so quickly. There will be options in which the governments of countries will again create something unique that meets modern challenges.

There is no need to have any illusions on this issue. If it were different, preparations for this process would already be underway, but there are no signs at all. Of course, no one will tell you directly, but in today’s world it is quite difficult to hide such information.

[CryptopreneurBrainboss]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Diversifying should be what they should be doing, if you have already bought a significant amount of Bitcoin and you're looking for other options then diversifying into real estate should be the next step. This advise mightn't be for everyone that read this comment but for those from my continent (Africa). If an economy collapse happens lands will be the only investment that can be certain to regain its value over time. Land are everlasting investment as they can't be lost unless you forgot where you bought them or the government takes it from you but still you'll be compensation veey well. Excluding bitcoin and land (Real estate), I don't see any investment that can save you in times of economy collapse.

In an event of economy collapse the first thing I'll do is to hold some cash, I'll sell some of my investment by converting them to cash and that's not because I believe in cash but because during this times things becomes difficult and a majority of our investment will lose value so to prevent we not selling them in losses, it's better we sell when they're still in profits and hold some cash that can take used through some period of the economy collapse while we look for others options.

[ultrloa]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

We see the effect of economic crisis in the world and to lucky for individuals who knows about crypto since they have another ways to earn money while something bad happen on global economy. If bitcoin is just widely introduce maybe we can see less people get affected with that situation since they can just shift their attention on crypto industry to earn some good cash while the other one is in trouble.

I'm less affected with crisis due to crypto and multiple source of income streams so best for people is to seek more ways to gain good income stream so that they would not worry about those crisis matters.

[Gozie51]

Countries of the third world are already feeling the heat and impact of devalued fiat currency especially the less technologically developed ones. Those who have moved ahead of fiat currency and hodling cryptocurrency and bitcoin are feeling less of the heat and this is a sign that a total collapse will lead to hyperinflation on the fiat value, so to hodl bitcoin, DCA on bitcoin for more will help anyone who takes such decision. Hodling fiat is now becoming a wasted idea.

[Lucius]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If there is a global economic collapse, do you think the price of BTC will remain intact, given that there have been talks about integrating it into the existing financial system for years? And that's exactly what happened, and the price of BTC reacts to every event that has global significance, such as the declaration of a pandemic, which dropped the price of BTC by 50% in less than 24 hours.

Holding is only part of the story, what happens when everyone who keeps their value like that starts selling to cover basic living expenses, and at the same time there is little or no demand at all?

The key is diversification and understanding the risks that we need to protect ourselves from in case everything goes to hell, and I personally am not so much afraid of an economic collapse as of a possible nuclear war, considering that a lot of crazy people possess enough nuclear weapons to destroy this planet and more than a hundred times.

[inthelongrun]

Sell everything. Except maybe bitcoin and ethereum, I'll observe first before making a move. What I noticed during the middle of the pandemic is that cash is the king. Inflation may be high but it is also expected that most middle-earning investors withdraw their investments just like what happened a few years ago. Stock values plummeted so badly that it is best to sell first rather than sell it at the bottom. Many real estate, vehicles, and other properties will be sold at a discount. So for me, I'll be ready with my cash and then observe the market before starting to shop. Also, in every situation bad or good there are always opportunities but it is for us to find out.

[DeathAngel]

If the global economy collapsed the first thing you should do is focus on securing your basic needs like food, water & shelter. Check your resources & identify ways to sustain yourself & your loved ones. You should connect with your community as people coming together & supporting each other can provide a sense of stability & shared resources during challenging times. Obviously having bitcoin is great but if we are talking a true economic collapse then food, water & shelter are the most vital things.

[BitcoinTurk]

If a situation such as the collapse of the global economy occurs it is very likely that all markets will enter a period of very serious collapse. In such a situation, all investors will want to secure themselves by switching to cash as quickly as possible and serious crises will occur in the financial markets. Of course, although many poorly informed investors will think that switching to cash is the solution, the currencies of many countries will definitely be negatively affected by such a crisis. For this reason, it would be beneficial to keep some of the capital as cash in order to take advantage of the opportunities that may arise in case such a collapse period occurs.

If the global economy collapses, my first priority will be to stock up on basic food products. This is a very important factor for the continue of my life and in a possible crisis the first thing that will occur is a shortage of food products. Apart from this, since there will be various opportunities in the financial markets and cash will gain importance in the first stage, it will definitely be the right move to have some cash and to turn to financial products that will lose serious value but have potential.

It is quite normal for cryptocurrencies to lose value in the first stage after the collapse of the global economy. For this reason, first of all, I would expect people to panic sell their cryptocurrencies which they consider risky, at low prices and for the prices to reach more appropriate purchasing levels. Just like during the Covid-19 period, after some time passes after this financial crisis, cryptocurrencies will definitely gain value due to their decentralized structure. In other words, at the first stage thinking like a simple investor regulating the panic environment that people will create and then evaluating all the buying opportunities that will arise will be a very good strategy for managing cryptocurrency investments in this process.

[icalical]

If global economy collapses actually happening I don't think Bitcoin alone can help, sure the ideal situation should be the Bitcoin price surging, but there are other possibility especially if the bad economy continue for a little bit longer and people decide to cash-out their Bitcoin to fulfill their needs. All that being said, at least until now and where I live, I don't see any major sign that the global economy collapses is happening anytime soon.

[AicecreaME]

I wouldn't worry that so much I think since I live in a province, we can easily forage anything in the forest or even in the seashore, so money won't be a problem. Investment in long term like holding bitcoin is also a good thing, since fiat would be a pain in the ass because of hyperinflation.

The only pitiful people would be those in the urban areas yet doesn't have any privileged to earn enough money even when there is no economical problem yet. But I hope there's still a solution for what's happening in the world right now.

[Zigabel]

 Holding Bitcoin is still one best option to explore as Fiat will definitely be on the fall during this period, other alt coin too can be stocked as most of which usually gets a ripple effect from whatever happens to Bitcoin both in the long term and the Short term. Other investments outside Bitcoin which yield would be of great use at that time can be explored aswell so as not to get stuck amidst the economic crisis.

But in case of global economic collapse it is most appropriate to first secure basic amenities enough to last you through the period of the collapse. If you had good measures in place as preparations before the hit of the economic collapse, I think you have a good opportunity for wealth creation, expansion and further diversification as more opportunities than usual will arise for you to cease and make wealth. These opportunities can be in various forms which could include providing solutions to needs and problems that accompany the economic collapse both locally and internationally, as well make your solutions sustainable to gain long-term relevance

[viananda2525]

The collapse of the economy is not a jokes, and it shouldn't serve as a compelling reason to lure someone into buying BTC. Economic collapse sets off a domino effect, causing multiple sectors, and even entire countries, to crumble. This leaves everyone grappling with day-to-day challenges.

Inflation and food shortages become significant concerns. Frustration runs high, and people may start acting recklessly. At the point of chaos, it's not just your wealth that's at risk; your safety may also be on the line.

In my opinion, enticing people to buy BTC and capitalizing on a poor economic climate isn't entirely sound. While it's true that its price might surge during an economic collapse, you could be facing other threats to your health and security.

Hold Bitcoin only as needed for now. Don't be greedy.

Your opinion makes perfect sense. If the economy collapses then there is very little for anyone to think clearly. Capital owners will be very hard hit by the development of their business and may also find it difficult to secure their assets. The development of crypto investment has indeed been looked at by several entrepreneurs and currently, when the economy starts to look volatile, they have entered the market to invest, but still within a certain calculation.

However, if the world economy is really falling apart, then I would prefer to invest in buying land. Because if the economy falls, people who have enough food will be the winners.

[coinerer]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If the global economy collapses then putting the money on bitcoin will be a best choice Because bitcoin is not same like fiat money. Since Bitcoin cannot be controlled by any country's government and its supply is limited, if there is a global economic problem, many people will jump on Bitcoin and because of this, the price of Bitcoin will increase even more. so then it would be a good idea to choose Bitcoin. It's not just bad times in the global economy that people are slowly becoming more attracted to Bitcoin.

[0t3p0t]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Well honestly if the possible economic shift hit me hard, I don't think I had the  chance to defend myself with precious metal nor Bitcoin because I have none of them. 😅 As a broke guy I think I have to find good ways to just survive or make history as we can see during pandemic some people made millions. And as a person living in the province I don't think that has a critical impact to us since food here is free.

[stompix]

Put a bullet through my head!

Yeah, you've read it right, if we talk about a global total collapse it would be stupid to try to live on the shit that comes next.
We've never had a total collapse, we had a crisis, a complete failure never happened even in ww2, what are you going to prepare for?

I'm genuinely laughing at the people saying they will buy necessities, and what happens when they run out? Or that they will keep some BTC and other altcoins, what the f* are you going to trade those on in total collapse where nobody will care but for food and medicine?
Some of you don't understand how that thing would look, it will mean bye-bye banks, bye-bye infrastructure, bye-bye employment, and you imagine you will still have a way to trade 24/7 and people will still be able to wire money and such? And if it's a total collapse and everyone is out of a job, what will you get for those bitcoins and why would anyone buy them from you?

Some of you have no idea what a total collapse means, you still think of it like some 2009 crisis, but that's nothing close to a collapse!

[Sayeds56]

If the global economy collapses then putting the money on bitcoin will be a best choice Because bitcoin is not same like fiat money. Since Bitcoin cannot be controlled by any country's government and its supply is limited, if there is a global economic problem, many people will jump on Bitcoin and because of this, the price of Bitcoin will increase even more. so then it would be a good idea to choose Bitcoin. It's not just bad times in the global economy that people are slowly becoming more attracted to Bitcoin.

Your advice to accumulate Bitcoin if the global economy collapses is a good idea, however it is important to recognize that the central banks all over the world have taken numerous proactive measures to avert any future economic meltdown like the one happened in 2008. As a result like-hood of similar crisis occurring again appears to be significantly reduced, although it can not be completely ruled out. In case such a scenario plays out, it can trigger extensive selling across all risky assets including Bitcoin. In such a situation, there would be an opportunity to accumulate Bitcoin to effectively lower average cost of our investment in Bitcoin, and make significant gains when market conditions eventually improve.

[Kasabus]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

You are right. Lucky are those bitcoin owners because they have prepared for the worst economy and that while others are struggling on their finances, they will reap the fruits of their investment and live life to the fullest. Probably that was my biggest regret for not knowing and not buying bitcoin earlier. Now that our economy is almost collapsing, then it’s the best time to focus more on bitcoin and prepare ourselves to take risk by investing in bitcoin. If that’s the only way to survive, then I will never stop from accumulating bitcoin. Furthermore, knowing other businesses that have also high potentials to succeed is also one of my goals. If we can take advantage from our economy, then at least we should learn how and where to diversify aside from our bitcoin investment.

[Mate2237]

What is are the signs of the economic meltdwon? And where do you think is the good side to run to when the economy is bad? In my country we are already facing the economic hardship so there is no future preparation. Economic hardship that we facing right now is even stronger than the one to come. As bitcoiner even at the hard time of the economy, we are still doing the same way we are doing now, the only time that bitcoin hard for it users is the time when the transaction fee is high then it affect the common users of the technology even at that it would not affect the whales.

Op do really understand what you are saying? It is not possible to hodle or accumulate bitcoin when the world economy has collapsed. At that time everyone will be looking for a way to survive and not thinking of hodling.

[Faisal2202]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I am already doing the obvious thing that you have mentioned, and many other BTC enthusiasts are already doing it and have been doing it for many years now, To them, topics like these are repetitive topics because they have gone through such times and they know how it feels to think about the future's conditions, and how will be the environment in future. In all types of fields, whether it's in food, finance, etc.

The point is, other than making money, to back your future up in bad economic situations in future, one should also work for the aspects related to his/her life. For example, the relation, health, food, lifestyle, etc. As we are on BTT and the topic is created in the economic section, we are most probably talking about money only. So we all know that inflation is increasing day by day and the best thing is to store our own money in some form where it will not lose its value and the only option available is BTC. As it is a hedge against inflation.

[kryptqnick]

I used to believe that we were heading into a major economic crisis, and I thought so since 2019 till the end of 2022, waiting for it to happen. But right now, it really seems like the global economy is recovering from everything. It's recovering from the pandemic, it's recovering from the energy crisis and from limiting economic relations with Russia. Some countries are struggling, some are prospering, but overall I think we've avoided a global economic crisis and even a recession this time.
If it happens (and it's bound to happen eventually), my first actions will be to spend fiat while there's something meaningful to buy with it and to convert more savings into Bitcoin if I have any. Bitcoin may suffer, but it's also likely to recover, and there's also a chance it will actually go up during a crisis because of lots of people putting their wealth into it.

[DrBeer]

I have a slightly different suggestion - start doing something BEFORE there is a problem ! When something has already happened, it becomes very difficult to make GOOD moves. All decisions will be weighed down by the current difficult situation.
Therefore - start to form additional passive income, invest in promising areas, agriculture, for example - in case of crisis there will be demand not for 27 iPhones, but for bread, potatoes, rice,.... Form a "financial cushion" of highly liquid assets. if there are problems ahead, it is necessary not to discuss them, but to start doing something.

[ZAINmalik75]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Other than just holding BTC, one should try to diversify their portfolio too, so that we can make some extra money too. There are a lot of altcoins that might lose some of their value due to the current MTGOX refund system. And in that dip, we might want to accumulate some of those ALTs. Because after the halving, there will be a bull run, and all those alts will gain some value, and we could make some extra money too. Because BTC is not that volatile that we could make huge returns on our small investments, if we have to make some good money with our low investment, then we have to diversify it in different alts.

Despite all that, in times of economic hardship, most BTC holders face issues when they are not prepared for such emergency situations; therefore, every BTC accumulator or holder must save extra money for such emergencies. Many people will have to sell their funds in bad economic situations if they do not save any funds in the emergency section. So, it is better to not be late and accept the point that emergency funds are as necessary as the DCA in the accumulation of BTC.

[justdimin]

Sell everything. Except maybe bitcoin and ethereum, I'll observe first before making a move. What I noticed during the middle of the pandemic is that cash is the king. Inflation may be high but it is also expected that most middle-earning investors withdraw their investments just like what happened a few years ago. Stock values plummeted so badly that it is best to sell first rather than sell it at the bottom. Many real estate, vehicles, and other properties will be sold at a discount. So for me, I'll be ready with my cash and then observe the market before starting to shop. Also, in every situation bad or good there are always opportunities but it is for us to find out.

That should be the opposite way. If the economy collapses, that means dollar is worthless, or lets say it is something smaller and dollar is less valuable and not worthless, that means that bitcoin will be worth more. So, if you sell everything during a crash in the market, you are doing the wrong thing. Remember, the worse our economy does, the better bitcoin will do, it is just simple mathematics.

If there is no money, and that is why nobody is buying bitcoin, that would be different case, that is not crash, that is recession and that is fine, we can handle that, it is not a collapse. 2008 for example was a similar thing, markets went down and nobody had money, and what did government do? Print more, and make dollar less valuable, which would have been great for bitcoin.

[stomachgrowls]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

We are in fact facing up these economic issues crashes or whatever things that might possibly be happening ahead but there would be no that definite point if this would be happening in our life time or not. The thing here is

that you should really be that mindful and be wise on where you would really be placing up yourself because getting prepared on whatever condition that you would encounter. Doesnt matter whether you do put your focus on Bitcoin or with some other investment which it would really be bringing out that kind of chance on sustaining on the time that shit things happen ahead. Doesnt matter on which form of investment you are really that dealing with or saving up with which as long you could be able to make yourself survive then this would really be our main priority. There's no way on knowing on what are the things  that might happen in the future but basing up on the behavior and things happening then it would really be that safe to presume that shit would really be hitting on the fan soon. It would really be just that a matter of time.

[passwordnow]

However, if the world economy is really falling apart, then I would prefer to invest in buying land. Because if the economy falls, people who have enough food will be the winners.

I thought that you were doing that because of the appreciating value of the lands/real estate but if that's your purpose then you're doing it for two purposes. For having the land and at the same time, you're going to use it for planting the herbs, vegetables, and everything that you need. I want to have that as well so that I can experience planting and I'm not asking for that much and that's why if the global economy collapses, owning one and doing that will also make me flee from the stress of it. So, I have to protect my peace and while doing that, I also have my own way of releasing the stress through planting.

[ChiBitCTy]

What do you mean exactly by "global economy collapse"?  This could be interpreted in a number of ways.  Let's say though the global economy crashes, or worse collapses, I'm not so sure bitcoin is the best place to have your money.  Bitcoin is highly volatile, and during an economic downturn people tend to sell their assets, especially the riskier ones first...so I don't see how bitcoin will help in this situation.

[romero121]

What do you mean exactly by "global economy collapse"?  This could be interpreted in a number of ways.  Let's say though the global economy crashes, or worse collapses, I'm not so sure bitcoin is the best place to have your money.  Bitcoin is highly volatile, and during an economic downturn people tend to sell their assets, especially the riskier ones first...so I don't see how bitcoin will help in this situation.

As stated there can be various interpretation for the term global economy collapse. Based on my understanding bitcoin's volatility won't be the right choice, but it is better than fiat in all means. Till date the bitcoin market have appreciated in value against the fiat that keeps depreciation. All that required is the time to hold for the right moment. When we're in bad economic situation we don't have the choice to hold and nowadays bitcoin have got dependency over the world economy. This also could keep the market in similar situations, and in such situation gold seems to be the fair choice.

[goinmerry]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

In what situation can we consider a global economy collapse?

- during a World War as in most countries are participants?
- during a Cold War between major countries?
- during a pandemic like the one that happened a few years ago when almost all industries were down.

Bitcoin might have been the best thing we had during that time but believe me, I'd rather not have lots of BTC on hand if in return I had to experience those listed disasters. Inflation sucks but it's not that, we are facing a total nightmare dealing with only fiat.

[usekevin]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

The important thing is we need to hold some money for the future.So if the world economy had collapsed will not affect you in any way.It’s better to hold your saving in the crypto currency as compared to the other fiat.Once the market prepared for bull run,the profit percentage fro, the investment will be never expected one.The bitcoiner can balance the global economy collapse using their holding crypto currency.For others,this global economy collapse will affect the lot and they spend all their holding fiat.

[lienfaye]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If this scenario happened (and yes it's turning worse currently), I think aside from holding my crypto in my wallet for future gains. I will focus on what can give me an income to still survive and that is through looking for an opportunity for additional income. It could be building a business that is timely and still indemand or switching to agriculture since we have land that can be use for farming.

It's better to have a plan and be prepared but the current situation is what we should think about. Because we don't even know if we're still existing if such unfortunate incident (global economy collapse) happened.

[Arenga pinnata]

The big changes in the global economy are currently very clear. Especially regarding inflation and recession. I even saw the news about several mall buildings which are usually busy with visitors and many shops are open. Today there are even fewer visitors to the mall and many shops are closed due to lack of customers. This indicates that people's purchasing power is beginning to decline. Or it could be because people are starting to save money and prepare themselves to face the next economic crisis.

Personally, I actually don't have enough preparation to face an economic crisis if it occurs. It's just that I have started to learn to do it. I also invest in Bitcoin although not much. Because my current condition does not allow me to accumulate bitcoins regularly.

But I am aware that even though the news media says inflation has fallen, in reality I feel that the current conditions are actually getting worse. Because it is very clear that currently the prices of goods and food are increasing rapidly. Isn't this caused by inflation?

All I can do now is:

✓ Organize my finances again so that the allocation of my money can be more measurable.
✓ Trying to find additional income.
✓ Save the remaining money not in fiat but I put it in bitcoin investment. because I realized that the value of fiat continued to decline without me realizing it.
✓ Shop only for what is needed and refrain from overspending.

This is all I can do for now.

[uswa56]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If this scenario happened (and yes it's turning worse currently), I think aside from holding my crypto in my wallet for future gains. I will focus on what can give me an income to still survive and that is through looking for an opportunity for additional income. It could be building a business that is timely and still indemand or switching to agriculture since we have land that can be use for farming.

It's better to have a plan and be prepared but the current situation is what we should think about. Because we don't even know if we're still existing if such unfortunate incident (global economy collapse) happened.

That's quite realistic because when something bad happens the most important thing is how we can survive, and regarding investment, let alone investing in crypto, it is quite a risky thing because basically crypto will not work and will also fall when the global economy collapses, so what? we can survive as long as it recovers, yes, it would be quite promising if the economy could recover, but again, the most important thing is that we must be able to survive when the economy is in decline.

[Sebas.tian]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I believe many bitcoiners are using this opportunity to buy more of Bitcoin and hold,  so that they will not regret when the global economy collapse because I can still remember how Bitcoin helped many bitcoiners to improve in their various countries where pandemic collapsed many countries economy, but Bitcoin was still pumping massively to allow bitcoiners to enjoy their reward. I think, i need to add to my Bitcoin in this bearish season because the market price is preparing to move to another level for long term investors and short term investors to get ready for another bullish season again. If the bullish season appear this month of September, I think many bitcoiners will achieve a lot of income from the market that will sustain them through out the inflation.

[adaseb]

I’ve been hearing about this global financial collapse for maybe 1.5 year now and it still hasn’t happened. Economy maybe softened a bit and that’s it. Right now job numbers are still strong and gdp is high.

If there is a collapse, who knows what Bitcoin will do or other risk assets like stocks. Best to be all cash and buy many assets like real estate when it’s cheap.

[terrific]

Even if I don't have much cash on my bank account, I'll wipe it first because you'll never know if the next bank to disable withdrawals is the one that you've got.
We've seen this happen in some countries like in China and Lebanon. Banks there restricted their customers in withdrawing their money on them because that will add impact to the economy collapse.
That's why if there's a certain global economy impact and collapse and I am seeing it as well, that's the first thing that I'll do even if it's going to be a few hundred bucks.

[Oasisman]

It seems that the OP is confident that bitcon is going to save him from collapse but if it's so big that there are prolonged and constant power outages it's not going to do him much good. If it's a Mad Max collapse the only thing he's going to need is arable land with water and weapons, little else. Maybe bitcoin and gold will help, but it won't be essential.

So, this is going to be definitely the good answer to OPs question. What else I can do other than accumulating bitcoin? Well, I have to invest into building a farm and something that could protectne. It's either equipping you for the slightest possibility of chaos or preparing you to take it to a business level. However, we all know that is far from happening, but at least having your own farm like veggies and livestock will save you from an overpriced market due to the rapid inflation.
This is one of the major options outside bitcoin accumulation.

[tjtonmoy]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Find other ways to make money so that you won't be affected by the economic crisis. If you just keep on hodlign Bitcoin, you won't be able to fight the crisis. In order to prepare for that situation, we need multiple sources of income. The one you have right now, you are used to it and you will still live your daily life like this during that crisis. So you won't be able to fight back or prevent yourself from being affected.

Bitcoin investment is a long-term process. If you rely on that too much, you may not be able to make a profit during those times when it is needed. For this reason, having other ways to make money will always help. Never depend on one thing. It could be gone in an instant, and then you will be left with nothing. Invest in multiple places and try to make a profit from them.

And if you are in an area where you can grow food, you should focus more on that. Food is essential for survival. People will need it no matter what. That way you can help yourself and also sell some to make profits during a crisis. Grow dry foods that you can store easily.

[Strongkored]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I have never prepared myself for the economic difficulties that are predicted to occur in the next few years. For me, the most important thing is to adapt to everything that happens. Without economic difficulties, inflation has made it difficult for many people to meet their needs, if they are able to survive in the midst of uncontrolled inflation can be resisted, so I am quite sure that during a global crisis, it will also be able to survive, but hopefully there will not be a global crisis that is more severe than in 2008.
But will those who own Bitcoin survive the global economic crisis? because I feel that the way it works is not as easy as you think, because when the global crisis occurs the price of Bitcoin will probably enter a new phase that will make people shocked and experience losses

[Cryptomultiplier]

Well I don't think any world economy will collapse because there are agencies and bodies which see to it that the financial system is balanced and financial practices are properly regulated in order to avoid a potential collapse of the economy, just like you have mentioned.
The worst that could happen is what's already happening, and that's the BRICS initiative in which some powerful countries will opt to trade with the Yeun, thereby causing a new economic stimulus that is going to affect the current currency of major countries in the world.

Besides this, it is always good to prepare for the worst case scenario as an individual, to have a divergent portfolio or something which is of value like a Crypto Wallet for investment that is secret, gold or precious metals, in order to not be victims or get stuck when there's either disease outbreak, pandemic, flood, earthquake or even human issues that may need immediate monetary attention.

[Davian144]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Apart from still having to keep saving and collecting as much Bitcoin as we can, everyone also has to have another job as support to face potential economic difficulties that occur globally. Because there is no wiser option than continuing to place each of us in a place that can still provide income for ourselves in order to face global economic difficulties. The issue of economics is a matter that must be faced more seriously because most problems in the economic sector can only be solved with money even though it also requires expertise in carrying out every job within the economic scope.

[fuguebtc]

Well I don't think any world economy will collapse because there are agencies and bodies which see to it that the financial system is balanced and financial practices are properly regulated in order to avoid a potential collapse of the economy, just like you have mentioned.
The worst that could happen is what's already happening, and that's the BRICS initiative in which some powerful countries will opt to trade with the Yeun, thereby causing a new economic stimulus that is going to affect the current currency of major countries in the world.

Besides this, it is always good to prepare for the worst case scenario as an individual, to have a divergent portfolio or something which is of value like a Crypto Wallet for investment that is secret, gold or precious metals, in order to not be victims or get stuck when there's either disease outbreak, pandemic, flood, earthquake or even human issues that may need immediate monetary attention.

Why do you consider the establishment and development of BRICS a bad thing? Creating a multipolar world is always a good thing because it will create conditions for many countries to develop in many different directions instead of being constrained by just one great power.

One more thing, in the past, the world economy has collapsed many times, so don't be too subjective that there will be no economic collapse. Government agencies will try not to let that happen, but they also have no guarantee that it will definitely not happen. If they can prevent it, why haven't they found a solution to the crisis we are experiencing?

Preparing for the future is never a waste.

[savetheFORUM]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Well, what else can we do other than to speculate, and predict what might be the best way of survival for us and just go all in with that? Most of us think that Bitcoin can save us from that if we put everything we have into it and get to the other side of the shift without much damage, but what's the guarantee that Bitcoin won't crash as well if the global economy crashes? I know that we expect a lot of people to turn to Bitcoin as a survival method but even that isn't something guaranteed and people might not think the way we do.

I understand that when there is a lot of demand for Bitcoin, its price tend to go up, but if there is global economic crash, I wonder what would stop FUD from spreading and who will stop panic sellers from selling and exiting the market as soon as they can thinking that they will lose everything if they don't do it.

[puloweh555]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Every year there is inflation, even though the global economy is in decline, so we don't need to be afraid. If the world economy will collapse. That won't happen yet. Stay calm. The important thing now is that we are alert and continue to implement policies (the world economy could collapse, but don't let our hearts and minds collapse). What we need to do is save money and continue investing in bitcoin, because for me only bitcoin can save us from the increasingly worsening global economy. Also do this by buying land so that later if the global economy gets worse we will still have sweet potatoes/cassava and other things to consume.

[Rockstarguy]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

in as much as bitcoiners should be accumulating coins, I feel every one should at least have a home farm that can produce food and medicines enough to cater for every member of their family at least their nuclear sector.. get emergency kits readily available in their homes... at least the lockdown during the covid era should be able to teach us certain important lessons.. People had money, coins and other valuables that are tradeable but we experience a complete shut down of all markets and public places, but for people that had home farms, storage with essentials supplies they were able to go through the period better than others that weren't prepared. At least before you start selling your accumulated coins, you should be alive and healthy.

[Eternad]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Bitcoin is part of the economy. I doubt Bitcoin will not be affected when global economy collapse while investors on Bitcoin itself will be directly affected in the form of being jobless, weak business profit and many factor that contribute to the economy collapse.

Bitcoin advantage on economy crisis is it will be less affected compared to fiat but it’s not enough to secure yourself on a collapsing economy since Bitcoin is not an income generator.

I will focus on constructing a self sustaining backyard and green energy which I’m already planning so that I will not be reliant heavily on the putside economy while invest my life savings to Bitcoin to secure my savings value.

[Gyfts]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

In what situation can we consider a global economy collapse?

- during a World War as in most countries are participants?
- during a Cold War between major countries?
- during a pandemic like the one that happened a few years ago when almost all industries were down.

Bitcoin might have been the best thing we had during that time but believe me, I'd rather not have lots of BTC on hand if in return I had to experience those listed disasters. Inflation sucks but it's not that, we are facing a total nightmare dealing with only fiat.

It really only takes the U.S., Europe, or China for the world economy to fail. The U.S. has the largest affect because of their share of global GDP and the value of their import/export totals are greater than the GDP of some small countries. Consider the percentage a country's share of global GDP to be proportional to the risk that individual country has that could cause a global recession of some degree.

All the factors you mentioned could trigger a global collapse, but realistically it could happen if the individual economies of large regions collapse for whatever reason. There does not need to be a global event for a global collapse -- the global economy is so interconnected that only one country could cause a domino effect.

[Huppercase]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Don't act like bitcoin is immune as well. The last time Covid happen, was bitcoin going up or it was going lower. It depreciated more than some even stock, many coins did -99% because of its influence on them. If today another global collapse should happen, bitcoin will be affected but may be not as it used to in the past but it will crash. The same people that has investment into stock are the people that still has money here as well and they will sell if there is a global economy collapse.

Aside covid19 global pandemic that I experienced, I haven't had any in my life but I believe that when problem arises globally, the first thing everyone look out for is food, they stock food during such times, then follow by medicine, that's the only thing that matter during global crisis, all investment will be nothing, many will even sell to cater for the family, so expect people to sell their bitcoin if we are been real to each other.

[bayu7adi]

Don't act like bitcoin is immune as well. The last time Covid happen, was bitcoin going up or it was going lower.

Let's revisit the BTC/USD candlestick chart. It surged to an all-time high (ATH) of over $65k+.

It's worth noting that during that time, several significant global events took place.
- Covid-19 was discovered in December 2019 in Wuhan, and it rapidly evolved into a global pandemic by March 2020.
- Just two months after Covid-19 gained worldwide attention
- The Bitcoin halving occurred on May 11, 2020.
- The ATH itself was reached on November 10, 2021, which was approximately 1.5 years after Bitcoin's previous ATH. However, the price rally had already begun in May 2021, all while the Covid-19 pandemic was still ongoing.

In my opinion, Covid-19 did not weaken Bitcoin. Similarly, some healthcare-related stocks experienced a significant surge when the pandemic hit.

[asyakashi]

gold and bitcoin. two things that are most effective when the world economy collapses. I included bitcoin because even during the Russian war one year ago they used bitcoin as a transaction because the currency was difficult to transact. One of the advantages of crypto currency is that it does not favor a particular country. In fact, it is a solution when several countries experience conflict.

[Dr.Bitcoin_Strange]

During economic downtime, a real Bitcoiner would not think of selling their Bitcoin asset but rather buying more if the price of Bitcoin dips. As an investor or entrepreneur, you must not only hold your investment in one asset. That's the reason it's also advised for someone to diversify their investments. You could invest in Bitcoin and other things so that during the economic hardship you might still have something sustaining you; maybe it could be profit from other investments, or if you are also running a business, you would be making profit from it. Well, I think one way to prepare for any economic hardship or whatever is to maybe start saving some fiat that you can use to buy more Bitcoin by then and also to meet your needs.

[Russlenat]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

You should not only focus on bitcoin accumulation but investing in other potential investments as well like accumulating gold, or stocks, or even real estate because they can surely be profitable in the future that will give you passive profits if done the right way. Those are my goals before our global economy will collapse, at least by that time my finances is already established with crypto or even in our local currency. Whatever happens to the economy, I will never have to suffer from it.

[Unbunplease]

During economic downtime, a real Bitcoiner would not think of selling their Bitcoin asset but rather buying more if the price of Bitcoin dips. As an investor or entrepreneur, you must not only hold your investment in one asset. That's the reason it's also advised for someone to diversify their investments. You could invest in Bitcoin and other things so that during the economic hardship you might still have something sustaining you; maybe it could be profit from other investments, or if you are also running a business, you would be making profit from it. Well, I think one way to prepare for any economic hardship or whatever is to maybe start saving some fiat that you can use to buy more Bitcoin by then and also to meet your needs.

Saving fiat money is not the problem; the problem is where to store that fiat money. Cash is fine, but the problem is that you need space and security (and monetary reform is always a possibility). Storing it in a bank is also dangerous - the account can always be frozen.

[Japinat]

With the negative changes that is happening in our global economy, I can really see it that it might collapse in the near future. With that, my priority will be the same as others priority, that is to prepare and maximize my bitcoin portfolio. Aside from that, I am also trying to get in touch with some physical businesses as well. That means I'm up to establish some businesses that will also attract passive income hopefully. Although there might be inevitable risks, but as long as I'm knowledgeable about it and I'm prepared for those risks, then moving forward will always be my goal.

[Woodie]

Not to sound like some doomsday prepper , If a tide such as the global economy collapse is coming, believe you me warnings will be there such as high inflation rate, high unemployment rates, currencies losing value ectera, and for some one like me who can read between the lines...I would be jumping on the crypto economy fully and getting close friends and family to ride this wave by changing any local currency they have to BTC and any valuable crypto coin they can get their hands on as the aftermath will hit hard and to survive this you definately need something shiny...not gold of course, that stuff is heavy we talking about bitcoin and this will be the new gen of gold that can act as a currency to aid trade

[serjent05]

Global economic collapse is where the value of assets will have a sharp decline.  If I have the funds, I will be looking for an asset that can stay and will have better pricing when the economy has recovered.  Selling Bitcoin during this time might be futile because the price might also get affected so I will keep holding it buying more of Bitcoin won't also hurt since it might be cheaper since people who does not have enough fund might start selling their assets and that includes their Bitcoin holdings.

[JunaidAzizi]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Op yes you have raised a valid point and point our attention to this issue if it happens. the economic shift does not come in one or two hours or in a day when it starts in a country or in a world everyone knows about. Your question is what the bitcoiners do at that time, So everyone gives his valuable ideas and now I am going to give you of mine. The first thing is to diversify your assets, Do not hold all the eggs in a single bucket. Bitcoin is highly volatile and its price goes up and down and what if at that time its price goes down you need to spend your money on real estate, precious metals, bonds, etc. through which your fund will be saved and another is to keep some local fiat money which also gives you some back during the economic crises. Through this, you will buy the daily life routine that helps you survive that crisis.

[komisariatku]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

For me, having assets that can survive the economic and food crisis is a good choice. Of course bitcoin is the right choice, I never doubted it. But in my opinion, I need to consider land assets, I live in a tropical country and having land is a good thing. No matter how bad the economic conditions are, I can plant trees and grains for food on the land, that's the most logical thing and I won't worry about hunger.

[Dimitri94]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Current world politics is moving in different direction so any change at any time has to be accepted and everyone has to adapt to it. Due to the financial crisis, the money deposited in the bank is also losing value.

But it is said that as long as you have Bitcoin in your wallet, you have not lost it. If the price of Bitcoin falls further from the current price, it will not be a loss because it has potential. The current world financial situation is slowly becoming unstable. The effect of inflation is gradually increasing. And common people are suffering financially. This deflationary protection requires an investment that can hold monetary value financially. And for this, Bitcoin is the only investment medium where it is possible to save from inflation.

[Asuspawer09]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I mean there was no escape from that if a global economic crisis hit us, all we could do was hope that we had saved enough and invested enough and find other ways or alternatives how where were going to survive it, For sure it is already a good thing that we are investing in cryptocurrency even though we all know that cryptocurrency is a very risky investment it is still better than just saving it on your banks where you doesnt have control and because of inflation, It's better to just save enough money as your savings like probably enough amount that you could use to buy your necessities and then do an emergency funds, insurance, health, retirement, etc. that is important then all of your other money is invested on assets like Bitcoin, real states or passive incomes.

We dont really know since the world is changing quickly so it's better to have multiple incomes while we can still earn a good amount of money so that when the crisis hits us we can easily survive it because we have a lot of assets and income. But I dont really know how Bitcoin is going to react to this kind of thing, we dont know if the price is going to drop or skyrocket so do not invest only in cryptocurrency.

[Negotiation]

Economic crisis is really very bad it hurts every people and puts them in crisis. The current crisis may pose a major food security problem in the coming days food security crisis It could lead to a global crisis. Allocation to social security sector in the budget needs to be greatly increased. Saving and investing for the future is a good way out of a global economic meltdown. Investing in banking firms is the best investment in crypto as they lose their value as the economy collapses. Here the economic crisis will not have any effect investing in Bitcoin will help you survive the crisis as the value of this currency increases over time. Individuals can develop habits that will protect them ahead of time, even if there is an economic downturn or recession. When it comes to income having an emergency fund is all about having multiple sources of income and within your means.

[Shishir99]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

We don't know what is going to happen. But if you can guess what is going to happen, get prepared. Now it depends on your condition and it varies from person to person. Some people are happy with the food only and they don't care about anything else. As an average Joe, I don't plan to do many things. All I can do is reduce my expenses and save money for the bad times so I can survive the crash.

Inflation fluctuates a lot during the crashes. So if you can store emergency products, that would be good for you and your family. Reduces unnecessary expenses. Stop spending on entertainment. But if you are rich enough, you may still enjoy it.

[Silberman]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If we were under that scenario I will try to keep holding a little bit more, my reasoning is that during those turbulent times what people need the most is a good currency, so you can leverage your bitcoin holdings and wait until things get even worse and then finally make a move, but what to do? That depends on what you want to achieve, people forget that it is during those turbulent times when the most money can be made, so you could buy real estate or even different businesses to generate some monthly income and increase your wealth in this way.

[Sayeds56]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

In the event of global economic collapse, it would indeed have far-reaching and extensive effects for individuals, businesses and governments around the world. In response to such a dire situation, people will have to adapt to the new economic realities and take actions according to their circumstances. It would be prudent strategy to start purchasing/accumulating Bitcoin on regular basis right from now, from our monthly savings, so that this investment could potentially serve as a financial lifeline during the period of economic turmoil.

[Bloodseekers]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If we were under that scenario I will try to keep holding a little bit more, my reasoning is that during those turbulent times what people need the most is a good currency, so you can leverage your bitcoin holdings and wait until things get even worse and then finally make a move, but what to do? That depends on what you want to achieve, people forget that it is during those turbulent times when the most money can be made, so you could buy real estate or even different businesses to generate some monthly income and increase your wealth in this way.

If this situation occurs, of course this will greatly affect our lives because our income cannot meet our needs, therefore we need to invest so that we can increase our income when that happens. It is true that in difficult times like these, there are some people who can easily earn their money so they can meet their needs and there are also some people who find it very difficult to earn an income so they cannot meet their needs. Those who choose to collect BTC now can indeed gain benefits for those who are able to hold it longer so they can make a profit later.

[Arenga pinnata]

Global economic collapse is where the value of assets will have a sharp decline.  If I have the funds, I will be looking for an asset that can stay and will have better pricing when the economy has recovered.  Selling Bitcoin during this time might be futile because the price might also get affected so I will keep holding it buying more of Bitcoin won't also hurt since it might be cheaper since people who does not have enough fund might start selling their assets and that includes their Bitcoin holdings.

I think if we really have enough funds when the global economy is experiencing a serious crisis then of course putting a little into bitcoin investment is a pretty good thing. Because as you said, maybe at that time the price of bitcoin will also be quite cheap because it is likely that many bitcoin owners will sell the bitcoin they have to meet their living needs.

But the problem is whether we can have strong finances when the global economy is in decline. I think we have to have preparations from before the economic crisis starts. And actually even now the economic crisis is already being felt. It's just that this doesn't happen equally in all countries. Yes, there are still many countries that still have fairly stable economic conditions at the moment. But the majority of countries are currently in an economic crisis. This can be seen from the rate of increase in prices of daily necessities in each country which continues to increase due to inflation.

[Marvell1]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Current world politics is moving in different direction so any change at any time has to be accepted and everyone has to adapt to it. Due to the financial crisis, the money deposited in the bank is also losing value.

But it is said that as long as you have Bitcoin in your wallet, you have not lost it. If the price of Bitcoin falls further from the current price, it will not be a loss because it has potential. The current world financial situation is slowly becoming unstable. The effect of inflation is gradually increasing. And common people are suffering financially. This deflationary protection requires an investment that can hold monetary value financially. And for this, Bitcoin is the only investment medium where it is possible to save from inflation.

It is not wrong to choose bitcoin as a means to combat future inflation because the value of bitcoin will increase over time, but it would be biased to say that bitcoin is the only means we have to deal with inflation. Don't forget that before bitcoin, we also used gold as a hedge against inflation and it's still effective today. Furthermore, gold has proven to be the most reliable asset during times of crisis and economic recession in the world for centuries. But with bitcoin, bitcoin is also theoretically resistant to inflation but it is more volatile and more speculative. So we still don't know how bitcoin will react when it actually faces a global economic collapse.

[Majestic-milf]

 It's true that the world economy is going bollocks!! World currencies going bust and inflation invading most of the world like a swarming hoard of locusts and some will be left to wonder if the dollar would hold much value in the coming years? Well that's where most bitcoiners who are hodling will be glad they got on the moving train and didn't let FUD deprive them of the freedom Bitcoin gives.
Well, if the global economy goes bust, what will I do? I'd take advantage of the situation and purchase more Bitcoin and hold in readiness of the halving period.

[dothebeats]

It's true that the world economy is going bollocks!! World currencies going bust and inflation invading most of the world like a swarming hoard of locusts and some will be left to wonder if the dollar would hold much value in the coming years? Well that's where most bitcoiners who are hodling will be glad they got on the moving train and didn't let FUD deprive them of the freedom Bitcoin gives.
Well, if the global economy goes bust, what will I do? I'd take advantage of the situation and purchase more Bitcoin and hold in readiness of the halving period.

This is actually a good take, make an opportunity from the situation. Instead of focusing on the negative side of it, we can find ways to prepare ourselves and possibly even get benefits from it. At a time like that, we cannot just stand in the corner and sulk as the world around us goes down with the global economy, instead, we have to be clever and critical. We cannot back ourselves up in a corner and just hope for things to be better after a while, instead, we can take actions that will protect us from the situation and even make it on top.

[flyingcarpet]

It's true that the world economy is going bollocks!! World currencies going bust and inflation invading most of the world like a swarming hoard of locusts and some will be left to wonder if the dollar would hold much value in the coming years? Well that's where most bitcoiners who are hodling will be glad they got on the moving train and didn't let FUD deprive them of the freedom Bitcoin gives.
Well, if the global economy goes bust, what will I do? I'd take advantage of the situation and purchase more Bitcoin and hold in readiness of the halving period.

Everyone will develop their own tactics if what you say comes true, but I don't think the situation will be this bad. So the current economy may be bad, but the worst case scenario we talked about will not happen.

Accumulating Bitcoin is an investment method that should be preferred whether the economy is good or bad. That's why we should try to accumulate Bitcoin regardless of economies. All the bad scenarios mentioned will not happen. Make your own plan and invest for a better life.

[Inwestour]

This is actually a good take, make an opportunity from the situation. Instead of focusing on the negative side of it, we can find ways to prepare ourselves and possibly even get benefits from it. At a time like that, we cannot just stand in the corner and sulk as the world around us goes down with the global economy, instead, we have to be clever and critical. We cannot back ourselves up in a corner and just hope for things to be better after a while, instead, we can take actions that will protect us from the situation and even make it on top.

If I knew that truly difficult times were ahead of us, then I would want to have some liquid assets that could be sold if necessary in order to have a means of subsistence. This is in case we run out of reserves, which should always be available to us for such cases.

Big crises often provided big opportunities, I assume that in the event of some kind of big collapse, the price of Bitcoin could also fall very well, and it would be nice to have free funds to buy more bitcoin. I don't think Bitcoin can grow when the entire world economy is falling.

[YOSHIE]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

My understanding is that economics determines the survival and life of mankind in this universe, the economy plays a major role in all sectors and if the global economy worsens, automatically all sectors and elements are paralyzed, including the Bitcoin market and Bitcoin trading.

For me, Bitcoin is also an economy, in digital/internet form, even though its original name is called crypto and so on, the point is: Bitcoin is an economy, so the global economy is bad and the impact on Bitcoin is also bad, It could be that the price of Bitcoin in the market is not the same price as it is now, another reason many of them don't think about digital money anymore, because they prioritize real life.

[Sanitough]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If we were under that scenario I will try to keep holding a little bit more, my reasoning is that during those turbulent times what people need the most is a good currency, so you can leverage your bitcoin holdings and wait until things get even worse and then finally make a move, but what to do? That depends on what you want to achieve, people forget that it is during those turbulent times when the most money can be made, so you could buy real estate or even different businesses to generate some monthly income and increase your wealth in this way.

Precisely. The fact that bitcoin could be the key to our life's success then we should learn to maximize the accumulation of bitcoin while it is there in front of us. Because once the opportunities are gone, it will be a lot harder for us to achieve our set goals in life. Bitcoin is our future, so we should set it as our priority in life next to fiat.

[Distinctin]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I mean there was no escape from that if a global economic crisis hit us, all we could do was hope that we had saved enough and invested enough and find other ways or alternatives how where were going to survive it, For sure it is already a good thing that we are investing in cryptocurrency even though we all know that cryptocurrency is a very risky investment it is still better than just saving it on your banks where you doesnt have control and because of inflation, It's better to just save enough money as your savings like probably enough amount that you could use to buy your necessities and then do an emergency funds, insurance, health, retirement, etc. that is important then all of your other money is invested on assets like Bitcoin, real states or passive incomes.

We dont really know since the world is changing quickly so it's better to have multiple incomes while we can still earn a good amount of money so that when the crisis hits us we can easily survive it because we have a lot of assets and income. But I dont really know how Bitcoin is going to react to this kind of thing, we dont know if the price is going to drop or skyrocket so do not invest only in cryptocurrency.

It's certainly an advantage if you already have bitcoin in your wallet. But it would be a lot better if you also have other investments aside from crypto. If I've sufficient funds to invest, I would never settle in a single investment but as much as I can, I will also establish business in the different market industry. That way, if ever one investment fails, the rest might still be generating a decent amount of income.

Bitcoin is a secured and profitable investment. But seeing its high volatility, we should never invest in it all in but only invest on the amount we can afford to lose.

[Cling18]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I mean there was no escape from that if a global economic crisis hit us, all we could do was hope that we had saved enough and invested enough and find other ways or alternatives how where were going to survive it, For sure it is already a good thing that we are investing in cryptocurrency even though we all know that cryptocurrency is a very risky investment it is still better than just saving it on your banks where you doesnt have control and because of inflation, It's better to just save enough money as your savings like probably enough amount that you could use to buy your necessities and then do an emergency funds, insurance, health, retirement, etc. that is important then all of your other money is invested on assets like Bitcoin, real states or passive incomes.

We dont really know since the world is changing quickly so it's better to have multiple incomes while we can still earn a good amount of money so that when the crisis hits us we can easily survive it because we have a lot of assets and income. But I dont really know how Bitcoin is going to react to this kind of thing, we dont know if the price is going to drop or skyrocket so do not invest only in cryptocurrency.

It's certainly an advantage if you already have bitcoin in your wallet. But it would be a lot better if you also have other investments aside from crypto. If I've sufficient funds to invest, I would never settle in a single investment but as much as I can, I will also establish business in the different market industry. That way, if ever one investment fails, the rest might still be generating a decent amount of income.

Bitcoin is a secured and profitable investment. But seeing its high volatility, we should never invest in it all in but only invest in the amount we can afford to lose.

When the global economy collapses, I believe that it will also have an impact on the crypto market. However, we must always be prepared for the possibilities. I agree that it is important that we have other forms of investment aside from cryptocurrency specifically, Bitcoin. Yes, it is profitable but we should always have a backup. We better have other investments and sources of savings as a preparation for the future because we all know that even the economic situation affects the crypto market.

[abel1337]

~snip

~snip

It's certainly an advantage if you already have bitcoin in your wallet. But it would be a lot better if you also have other investments aside from crypto. If I've sufficient funds to invest, I would never settle in a single investment but as much as I can, I will also establish business in the different market industry. That way, if ever one investment fails, the rest might still be generating a decent amount of income.

Bitcoin is a secured and profitable investment. But seeing its high volatility, we should never invest in it all in but only invest in the amount we can afford to lose.

When the global economy collapses, I believe that it will also have an impact on the crypto market. However, we must always be prepared for the possibilities. I agree that it is important that we have other forms of investment aside from cryptocurrency specifically, Bitcoin. Yes, it is profitable but we should always have a backup. We better have other investments and sources of savings as a preparation for the future because we all know that even the economic situation affects the crypto market.

Of course there would be an impact but I'm guessing that it will be on the positive side given that people will find something that they can put their money on and I think cryptocurrency is one of them. I'm not an economist, what assets would be the go to of investors if the global economy collapses aside from cryptocurrency? It is always nice to diversify and it is better to have an investment now that will not affect us incase there's some kind of disaster like global collapse or a war happen.

[karabiber]

Since the economic crisis measures taken by governments are mostly aimed at protecting corporations and the rich, ordinary citizens need to be very careful and risk averse to minimize the impact of the crisis. I would like to share my own personal tips on how to protect oneself from crises. Generally, do not believe what media people and politicians say and try to do the opposite of what they say. Because their eyes are on your pocket. Reduce your expenses. Increase recycling and there is no need for new clothes, phones, cars.

The value of money is volatile and its purchasing power can fall. With a wad of money, one day you can only buy one block of cheese. The value of housing is also volatile, the supply of housing is increasing every day, if the supply increases, its value will fall. Suddenly a 10 storey building is built on the land next to your house and the value of your house competes with 30 new apartments.
The supply of gold may also increase. The embargo on Iran is lifted and tons of gold from Iran are released into the global market.  New mines are discovered, existing mines are exploited more, more gold is in circulation.
But what about land? The land on Earth is limited. Unless a major tectonic plate movement causes the land in the ocean to rise to the surface, the amount of land on earth is fixed, it does not change. For this reason, you must, must, must invest in land to avoid being affected by the crisis. At least you will have freedom.

[teosanru]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

First of all what do you mean by collapse? Have you ever in the history seen the complete global economy collapse? Why do you expect it would happen now? Also if it would happen how do you really say that bitcoin will not be affected by that? Eventually the money that get's pumped in the bitcoin is also part of the global economy itself. So I don't think building these hypothetical scenarios is anywhere nice.

[macson]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

when the global economy collapses, people's purchasing power will weaken and the wisest way is to maintain assets while currently there are not many investment assets that can be trusted like bitcoin ^{(even the value of property assets is shaken when the global economy collapses)}, but when we make bitcoin the main focus of investment, we must have a stable income to be able to keep our bitcoin investment maintained even when the global economy collapses.  As time goes on, people are increasingly interested in investing in Bitcoin to maintain the value of their assets, so don't waste the opportunity to collect as much Bitcoin as you can when the price is still very cheap from ATH.

[Mauser]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

While bitcoins are a great investment for longterm protection of our savings, I am a bit critical towards short-term profits during a big economic collapse. The problem with a major downturn is that most investors are going to avoid any risky assets and will focus on holding cash or government bonds. So, anybody that has large amounts of crypto currencies and is looking for buyers might not find them or only at a hefty discount. During a major collapse my first step would be to start stockpiling food again. I just finished eating most of the canned food from the covid pandemic and would make sure to have at least 4 weeks of food and water. Also toilet paper was a big issue during lockdowns, better to stock up as well. The best would be to have a private garden and start planting good, but I don't see any chance in the city. My next step would be to start looking for another job, just in case my employer goes bankrupt or has layoffs it's good to have already an alternative lined up. And my third preparation would be to start storing cash at home again in case there is a collapse of the financial system, almost like in 2008.

[Ayers]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

While bitcoins are a great investment for longterm protection of our savings, I am a bit critical towards short-term profits during a big economic collapse. The problem with a major downturn is that most investors are going to avoid any risky assets and will focus on holding cash or government bonds. So, anybody that has large amounts of crypto currencies and is looking for buyers might not find them or only at a hefty discount. During a major collapse my first step would be to start stockpiling food again. I just finished eating most of the canned food from the covid pandemic and would make sure to have at least 4 weeks of food and water. Also toilet paper was a big issue during lockdowns, better to stock up as well. The best would be to have a private garden and start planting good, but I don't see any chance in the city. My next step would be to start looking for another job, just in case my employer goes bankrupt or has layoffs it's good to have already an alternative lined up. And my third preparation would be to start storing cash at home again in case there is a collapse of the financial system, almost like in 2008.

What you say will be true to what is happening. I mean cryptocurrency or bitcoin is just considered a risky asset so when a crisis or recession happens, people will dump them and go for safer assets like government bonds or gold. But if in the future, bitcoin is valued as highly as gold, is no longer a risky asset, is widely accepted and its value is guaranteed, then owning bitcoin will be an advantage during economic downturns. I believe that in the future, bitcoin's role will be as important as gold and its role will be equal to gold or more.
When the world economy collapses, fiat is not really an option because the monetary system will collapse, only assets like gold or bitcoin will really have value at that time.

[lombok]

Economic difficulties are indeed a frightening specter and this clearly happened during Covid yesterday, I am sure there will also be future events that will create economic difficulties in the future. From experience during the Covid period, crypto savings, especially in BTC, assisted by crypto trading activities at that time, were very instrumental in helping my family's finances at that time in dealing with Covid.

But you need to remember, BTC/crypto runs because of the internet and community. It's natural that we have anxiety if at any time BTC/crypto doesn't run because of internet problems or the community just dies because of big chaos. So my personal conclusion is, save enough BTC or Crypto, keep doing crypto trading to increase your Crypto reserves, Buy shares or other investments such as gold, property, Hold cash is also necessary.

We don't know what will happen in the future. Don't be too fanatical about just one thing. Try to think carefully before act, sometimes it's just our lust and naivety that make us miserable.

[BitcoinTurk]

when the global economy collapses, people's purchasing power will weaken and the wisest way is to maintain assets while currently there are not many investment assets that can be trusted like bitcoin ^{(even the value of property assets is shaken when the global economy collapses)}, but when we make bitcoin the main focus of investment, we must have a stable income to be able to keep our bitcoin investment maintained even when the global economy collapses.  As time goes on, people are increasingly interested in investing in Bitcoin to maintain the value of their assets, so don't waste the opportunity to collect as much Bitcoin as you can when the price is still very cheap from ATH.

If the global economy collapses or is shaken of course people's purchasing power is seriously weakened but at the very beginning of this process many people panic and try to turn their investments into cash. For this reason, we see very serious price declines in the financial markets in the short term. Cryptocurrencies are considered riskier than many other financial investment instruments. For this reason, in the event of a possible global economic collapse or shakeout I don't think that individuals will prefer Bitcoin or other cryptocurrencies at least at the beginning of this collapse. Of course, the trend may be like this over time but I don't think that any individual will choose a risky investment instrument after such a major economic collapse.

As investor who regularly buys Bitcoin with a certain amount of my salary every month and keeps most of my savings in Bitcoin, I can recommend saving by purchasing Bitcoin at today's prices before the collapse or shake-up of the global economy. (I trust Bitcoin and I'm not one of those individuals who are very skeptical about cryptocurrencies as I just mentioned.)

[|MINER|]

Currently, many changes are coming in our economy.  We should always be prepared for economy collapses.  We should hold and invest more and more bitcoins.  Do not spend more than the income. Invest wisely You should be mentally prepared for economy collapses that will affect all of our lives. Bitcoin will be the next  asset like as gold.  But I want to mention something into it that when you are going to hold Bitcoin just aquire  some knowledge about security ,  like technical knowledge  it could safe for your fund.  Anyway  holding Bitcoin with a perfect  DCA management will be great for future gainer.

[ichsan ardi]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I really agree with what you say if the economy is destroyed everything will fall like a homestead only bitcoin will save us bitcoin is more cross border we move countries yes our assets also move that is one of the advantages of bitcoin no one controls our assets NOT YOUR KEY NOT YOUR COIN Our money is our money

[Gozie51]

But I want to mention something into it that when you are going to hold Bitcoin just aquire  some knowledge about security ,  like technical knowledge  it could safe for your fund.  Anyway  holding Bitcoin with a perfect  DCA management will be great for future gainer.

I guess security in terms of hodling your coin in a more secured wallet so that you are the only one with access to it like your noncustodial wallet. But regards to knowledge, I don't think someone who wants to hodl bitcoin as investment requires a special knowledge if they have the primary knowledge of bitcoin, bull, halving, bear etc and some people can rely on someone else knowledge to invest if they are guided. I have seen some newbie investors who are encouraged to buy some coins. Only ensure you have your private keys of your wallet yourself, so that you are the only one to access it .

[Mame89]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

While bitcoins are a great investment for longterm protection of our savings, I am a bit critical towards short-term profits during a big economic collapse. The problem with a major downturn is that most investors are going to avoid any risky assets and will focus on holding cash or government bonds. So, anybody that has large amounts of crypto currencies and is looking for buyers might not find them or only at a hefty discount. During a major collapse my first step would be to start stockpiling food again. I just finished eating most of the canned food from the covid pandemic and would make sure to have at least 4 weeks of food and water. Also toilet paper was a big issue during lockdowns, better to stock up as well. The best would be to have a private garden and start planting good, but I don't see any chance in the city. My next step would be to start looking for another job, just in case my employer goes bankrupt or has layoffs it's good to have already an alternative lined up. And my third preparation would be to start storing cash at home again in case there is a collapse of the financial system, almost like in 2008.

What you say will be true to what is happening. I mean cryptocurrency or bitcoin is just considered a risky asset so when a crisis or recession happens, people will dump them and go for safer assets like government bonds or gold. But if in the future, bitcoin is valued as highly as gold, is no longer a risky asset, is widely accepted and its value is guaranteed, then owning bitcoin will be an advantage during economic downturns. I believe that in the future, bitcoin's role will be as important as gold and its role will be equal to gold or more.
When the world economy collapses, fiat is not really an option because the monetary system will collapse, only assets like gold or bitcoin will really have value at that time.

In our generation, all of us are victims of the greed of previous generations, especially those in my country who are not prepared to fight against the next economic tornado disaster. Get ready to become a fool, or even die drowning in the maelstrom of the economic crisis that could occur at any time.

Yes, bitcoin is the financial future, and that is an inevitability. Just like electric cars which will replace petrol cars in the future. Because the reality is that the current generation prefers crypto because of its high volatility, if gold is truly stable, it is the most stable. But we cannot deny that crypto moves faster than gold, which is why the current generation is more inclined towards bitcoin than gold. After all, now there is a metaverse, even the land for sale there exceeds expectations and big brands such as LV, Gucci, Nike are competing to set up shops there.

[n0ne]

Currently, many changes are coming in our economy.  We should always be prepared for economy collapses.  We should hold and invest more and more bitcoins.  Do not spend more than the income. Invest wisely You should be mentally prepared for economy collapses that will affect all of our lives. Bitcoin will be the next  asset like as gold.  But I want to mention something into it that when you are going to hold Bitcoin just aquire  some knowledge about security ,  like technical knowledge  it could safe for your fund.  Anyway  holding Bitcoin with a perfect  DCA management will be great for future gainer.

It is good to learn about bitcoin holding and the security features to keep things in a much secure manner. Whenever there arises some collapse it needs to be used as an opportunity. This is what the suggestion we get from cryptocurrency analysts on cryptocurrency investment. When it is on traditional market the scenario is different, we should be prepared enough to tackle the situation. For this reason it is always good to keep ourselves prepared to face the worst market situation. This could help us to be on the safer side.

[TelolettOm]

I really agree with what you say if the economy is destroyed everything will fall like a homestead only bitcoin will save us -snip-

It is true that Bitcoin is quite resistant to economic downturn. When we are in the crisis of pandemic in 2021, Bitcoin even skyrockets and it created a new ATH ($69k). There is a prediction I heard lately that if we experienced another big economic crisis next year, Bitcoin may skyrocket again because people will choose BTC to secure their wealth. However, it is juts a speculation/prediction. In reality, Bitcoin is still a high risk asset, people must be afraid to keep all their wealth in a high risk thing.

So, don't rely on Bitcoin only to deal with economic crisis. We need other things to support the Bitcoin assets.

-snip- bitcoin is more cross border we move countries yes our assets also move that is one of the advantages of bitcoin no one controls our assets NOT YOUR KEY NOT YOUR COIN Our money is our money

What do you mean?  
If you keep your Bitcoin in private wallets, you are the person who controls it. But if you keep it on CEX wallets, the CEX owner who controls your Bitcoin.

[Casdinyard]

Well the first thing that's going to happen after a major economic collapse is people trying to cut their losses, it's either people are going to cash their bitcoins out cause they got nothing left already and they need to use the money to sustain themselves, or people who were able to make out something from the rubble's going to reinvest their money to bitcoin, which is honestly the most probable thing out there especially since more people are becoming aware of what bitcoin is. And when that happens it's going to be even harder to take out money from your investment cause you would want to make sure you earn as much as possible yeah? It's all a struggle out here even if you're winning so it seems.

[Tony116]

I really agree with what you say if the economy is destroyed everything will fall like a homestead only bitcoin will save us -snip-

It is true that Bitcoin is quite resistant to economic downturn. When we are in the crisis of pandemic in 2021, Bitcoin even skyrockets and it created a new ATH ($69k). There is a prediction I heard lately that if we experienced another big economic crisis next year, Bitcoin may skyrocket again because people will choose BTC to secure their wealth. However, it is juts a speculation/prediction. In reality, Bitcoin is still a high risk asset, people must be afraid to keep all their wealth in a high risk thing.

So, don't rely on Bitcoin only to deal with economic crisis. We need other things to support the Bitcoin assets.

So, how do you explain last year's bitcoin dump when inflation was at its highest in 40 years, and the economic crisis is still causing so much trouble for us today? Why isn't bitcoin skyrocketing to help us beat inflation? Bitcoin is still a risky asset and people are willing to sell it if a crisis occurs so I don't think it can help us get through the economic crisis.

But you're right, even if bitcoin becomes more secure and more resistant to inflation, we shouldn't rely on bitcoin alone. Diversification is necessary because it is difficult to predict what will happen in the future.

[Latviand]

The best thing for bitcoin users to do is to buy and hoard their bitcoins, the second best thing would be investing in property or gold or any precious metals and if worse comes to worse, probably secure your valuables and your property because depending on how severe the collapse would be, desperation to find means to survive will proportionately increase. Also worth noting that if the global economy collapse happens at a literal global scale, bitcoin and how to save our finances would be the least of our worries I think.

[Pingrapole]

I will accumulate assets which will help me in any emergency and these will fund me later if the current system fails.You are definitely right in my opinion.If the world economy collapses, this saying is not applicable now in fact it has already collapsed, now only the effect remains to be seen.We cannot do anything unless we improve our Bitcoin system at the same rate other institutions or industries are improving their systems.One should look now at how to modernize our system in keeping with the times.Apart from this we should look at the productive sectors because it may be impossible to carry forward the system as we have proceeded, but it can be done better if proper measures are taken.Experience given an opinion on this matter. Everyone's opinion reasonable. I think I agree.

[YUriy1991]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Yes. You're right. Recently there have been very drastic changes in development. The dynamics of the global economy and conditions like the one you describe may have already occurred and are currently running slowly and steadily and this is something you need to be especially careful about. with our current financial condition still being burdened by various things, for example the rising price of fuel oil, rising food prices and so on for our daily needs.

So what is needed is anticipatory steps, namely independent efforts to mitigate this. What is certain is that everything must be prepared from now on to face the impact of world economic turmoil and if we have savings of at least 1 BTC, it will be very beneficial in the future.

[bayu7adi]

What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

This statement suggests going all in on BTC as a full-fledged investment or long-term savings strategy.

During the health crisis caused by the COVID-19 pandemic, BTC indeed demonstrated its ability to surge in value and withstand global crises. Alongside BTC, several healthcare stocks also experienced significant growth, as the healthcare sector became exceptionally lucrative and bustling with panicked individuals seeking medical solutions during the pandemic. In essence, aside from Bitcoin, healthcare stocks also serve as another alternative with potential for maximization.

Now, to prepare for future global crises, it would be highly beneficial to identify their causes and speculate on stocks that are poised to thrive during such times.

While I do appreciate holding BTC, I believe that maintaining a reasonable allocation will be more advantageous for my future. I do not wish to overly rely on a single financial instrument.

[DrBeer]

The best thing for bitcoin users to do is to buy and hoard their bitcoins, the second best thing would be investing in property or gold or any precious metals and if worse comes to worse, probably secure your valuables and your property because depending on how severe the collapse would be, desperation to find means to survive will proportionately increase. Also worth noting that if the global economy collapse happens at a literal global scale, bitcoin and how to save our finances would be the least of our worries I think.

The problem is that in the event of a real crisis, and a global one, real assets will be in demand. If we remember history, stocks, securities and other intangible assets become illiquid. Gold, cash currency, etc. are in price - assets for which you can get necessary and affordable goods - food, medicines, gasoline, ..... Cryptocurrency will POSSIBLY be bought up by speculators, investors who play "in the long run", who have surplus funds and faith in the prospects  

[nurilham]

So, how do you explain last year's bitcoin dump when inflation was at its highest in 40 years, and the economic crisis is still causing so much trouble for us today? Why isn't bitcoin skyrocketing to help us beat inflation? Bitcoin is still a risky asset and people are willing to sell it if a crisis occurs so I don't think it can help us get through the economic crisis.

Last year is 2022, right? If you understand the 4 years cycle of Bitcoin, you must know it is the first year of bearish season. How do you expect the Bitcoin to skyrocket during the bearish season? It is something strange, buddy. Although we have a severe economic crisis, no chance for Bitcoin to create ATH or skyrocket in the bearish season. I personally think it is all about the period of bullish or bearish season.

2018= bearish season
2019 = bearish season
2020= bullish season
2021= bullish season

2022= bearish season
2023= bearish season
2024= bullish season
2025= bullish season

But you're right, even if bitcoin becomes more secure and more resistant to inflation, we shouldn't rely on bitcoin alone. Diversification is necessary because it is difficult to predict what will happen in the future.

Smart investors must understand that diversification is needed. It is not a wise decision to rely on a single asset only, specifically to rely on a high risk investment. It is better if we invest in safer things like Gold, Land, or other potential assets that looks to have lower risks. Don't put all money in high risk investments although it offers higher profits.

[slapper]

The best thing for bitcoin users to do is to buy and hoard their bitcoins, the second best thing would be investing in property or gold or any precious metals and if worse comes to worse, probably secure your valuables and your property because depending on how severe the collapse would be, desperation to find means to survive will proportionately increase. Also worth noting that if the global economy collapse happens at a literal global scale, bitcoin and how to save our finances would be the least of our worries I think.

The problem is that in the event of a real crisis, and a global one, real assets will be in demand. If we remember history, stocks, securities and other intangible assets become illiquid. Gold, cash currency, etc. are in price - assets for which you can get necessary and affordable goods - food, medicines, gasoline, ..... Cryptocurrency will POSSIBLY be bought up by speculators, investors who play "in the long run", who have surplus funds and faith in the prospects  

Your perspective is intriguing. Gold and money do hold their value in hard times. But aren't we in a fast-changing digital age? Financial crises have caused a rush for secure investments. However, the next tragedy may be digital. Cyberattacks, computer breakdowns, and online security holes scare me. In these conditions, wouldn't a decentralized digital asset safe from centralized threats be invaluable? And about speculators: every market has them, from stocks to real estate. It's their risk and game. But stating crypto is solely for speculators? It may be time to learn more about blockchain technology and its potential. The world is changing, so maybe we should modify how we view our assets

[demonica]

Collapsing of the global economy won't just suddenly happen out of nowhere at a single day. Of course, we'll see and experience negative impact one by one before the global economy really collapses. So before that thing happen, I'd start preparing for the worse. Holding Bitcoin is one thing that could help us but we can't really say that just because we have enough Bitcoin, we're safe from the economic crisis.
But definitely with the Bitcoin I have given that situation, I will prioritize necessities.

[Inwestour]

Yes. You're right. Recently there have been very drastic changes in development. The dynamics of the global economy and conditions like the one you describe may have already occurred and are currently running slowly and steadily and this is something you need to be especially careful about. with our current financial condition still being burdened by various things, for example the rising price of fuel oil, rising food prices and so on for our daily needs.

So what is needed is anticipatory steps, namely independent efforts to mitigate this. What is certain is that everything must be prepared from now on to face the impact of world economic turmoil and if we have savings of at least 1 BTC, it will be very beneficial in the future.

It seems to me that despite the difficult economic situation, the world economy has not yet reached its lowest point, so everyone should think about having some savings, so that they will last for a while. Inflation is growing and this process will be difficult to stop, an increase in the money supply cannot lead to a different outcome, this is the basics of economics. You need to hope for the best, but be prepared for the worst, it is quite possible that the global economic collapse will lead to many people being left without work and if you do not have any means of subsistence, then these will be very difficult times.

[khiholangkang]

More logically for the collapsed global economic situation is to save first what can be saved, and I think if our situation is difficult in daily life, then the greatest is likely to melt existing assets to survive with family, because average The average condition when the world economy is experiencing the threat of bankruptcy will make Bitcoin fall down.

But if Bitcoin is a concern when the global economy collapses I think to keep holding Bitcoin and waiting for several more periods to get a large profit, in other words you have enough finances for your needs, I think it is an intelligent step.

[Tony116]

So, how do you explain last year's bitcoin dump when inflation was at its highest in 40 years, and the economic crisis is still causing so much trouble for us today? Why isn't bitcoin skyrocketing to help us beat inflation? Bitcoin is still a risky asset and people are willing to sell it if a crisis occurs so I don't think it can help us get through the economic crisis.

Last year is 2022, right? If you understand the 4 years cycle of Bitcoin, you must know it is the first year of bearish season. How do you expect the Bitcoin to skyrocket during the bearish season? It is something strange, buddy. Although we have a severe economic crisis, no chance for Bitcoin to create ATH or skyrocket in the bearish season. I personally think it is all about the period of bullish or bearish season.

2018= bearish season
2019 = bearish season
2020= bullish season
2021= bullish season

2022= bearish season
2023= bearish season
2024= bullish season
2025= bullish season

I don't forget that coincidence, but can you explain to me, why every time the Fed announces rising inflation and every time they raise interest rates causes bitcoin to correct? Is it another coincidence or is the real impact of the crisis weighing on bitcoin? I still remember every time the government announced that inflation continued to increase and the Fed continued to raise interest rates, the entire financial market was in the red, not just bitcoin. So, I'm pretty sure that without the bear season, bitcoin wouldn't be able to avoid the negative effects of the crisis, let alone assume it would increase in price to help us get through the crisis.

Until now, bitcoin is still considered a potentially risky speculative asset, not a safe haven. We should accept this reality because we are only at the beginning of the bitcoin revolution.

[danherbias07]

My wife still has her gold in case we are having a hard time getting money and I doubt a sudden shift down will happen to that asset. But, we already talked about that in case it happens and we will save as much as we can right now, buy gold for her and Bitcoin for me and we won't just sell it unless there's an emergency in food shortage or anything that requires us to live. Of course that includes our health, especially.
I actually am happy that even in the pandemic we are not forced to do that although we really felt the hard times without food and we cannot go out due to restrictions. I mean, that is actually the point where we should use all those assets, and yet we survived. I guess I could say we already have the experience on what to do so it won't be hard the next time the economy breaks down again.

[sompitonov]

My wife still has her gold in case we are having a hard time getting money and I doubt a sudden shift down will happen to that asset. But, we already talked about that in case it happens and we will save as much as we can right now, buy gold for her and Bitcoin for me and we won't just sell it unless there's an emergency in food shortage or anything that requires us to live. Of course that includes our health, especially.
I actually am happy that even in the pandemic we are not forced to do that although we really felt the hard times without food and we cannot go out due to restrictions. I mean, that is actually the point where we should use all those assets, and yet we survived. I guess I could say we already have the experience on what to do so it won't be hard the next time the economy breaks down again.

You are lucky that you have BTC and deferred gold. I think that more than 90-95% of the population don't have such savings, because they live from paycheck to paycheck. I hope you don't tell this to your relatives, friends and neighbors. Because if these dark days come then they know that you have gold and BTC. Pardon me for being blunt.

If it gets really bad, which I wouldn’t want, then I will have food security for my family because I learned to grow various products on the land on my own without depending on anyone.

[AmoreJaz]

More logically for the collapsed global economic situation is to save first what can be saved, and I think if our situation is difficult in daily life, then the greatest is likely to melt existing assets to survive with family, because average The average condition when the world economy is experiencing the threat of bankruptcy will make Bitcoin fall down.

But if Bitcoin is a concern when the global economy collapses I think to keep holding Bitcoin and waiting for several more periods to get a large profit, in other words you have enough finances for your needs, I think it is an intelligent step.

not many people can wait for long time. so for me, you need to have other assets that you think can easily be liquidated come the desperate times. i think of gold such gold jewelries, which you can easily pawn if you need funds, or sell. real-estate is hard to dispose when the economy is going down. but if you have the agricultural land, you don't need to sell but tend your own garden and for sure, you will survive by what you can plant on your land.

[Smack That Ace]

My wife still has her gold in case we are having a hard time getting money and I doubt a sudden shift down will happen to that asset. But, we already talked about that in case it happens and we will save as much as we can right now, buy gold for her and Bitcoin for me and we won't just sell it unless there's an emergency in food shortage or anything that requires us to live. Of course that includes our health, especially.
I actually am happy that even in the pandemic we are not forced to do that although we really felt the hard times without food and we cannot go out due to restrictions. I mean, that is actually the point where we should use all those assets, and yet we survived. I guess I could say we already have the experience on what to do so it won't be hard the next time the economy breaks down again.

I think what happens in a pandemic will be very different from a global economic collapse. During the pandemic, everything was stagnant but the government still printed money to support people as much as possible, many countries even distributed money and food weekly to families, daily necessities, people support each other...But that certainly won't happen if the world economy collapses. Things will get worse than now, commodity prices skyrocket, food becomes scarce, currency devalues seriously...I imagine the collapse of the world economy as if we were living in a world war, where no one helps anyone and we have to find a way to survive on our own.

[savetheFORUM]

The best thing for bitcoin users to do is to buy and hoard their bitcoins, the second best thing would be investing in property or gold or any precious metals and if worse comes to worse, probably secure your valuables and your property because depending on how severe the collapse would be, desperation to find means to survive will proportionately increase. Also worth noting that if the global economy collapse happens at a literal global scale, bitcoin and how to save our finances would be the least of our worries I think.

The problem is that in the event of a real crisis, and a global one, real assets will be in demand. If we remember history, stocks, securities and other intangible assets become illiquid. Gold, cash currency, etc. are in price - assets for which you can get necessary and affordable goods - food, medicines, gasoline, ..... Cryptocurrency will POSSIBLY be bought up by speculators, investors who play "in the long run", who have surplus funds and faith in the prospects  

Someone with not much wealth will obviously have no choice but to just either keep the little cash that they have or buy gold and keep it somewhere very safe so that they can sell it when the crisis settles down and things start to normalize. However, one might also choose Bitcoin as a safe haven from all this because the price of Bitcoin will most probably not be much affected in case of a global economic crisis since Bitcoin isn't directly connected with anything.

But, since the values of different fiat currencies will surely take a plunge, people might face issues converting their Bitcoins into cash if they need money for basic necessities because the price of Bitcoin against their local currency will keep falling if the local currency isn't being able to sustain its original value.

[Haunebu]

Firstly, the global economy will never collapse and we all know why. Secondly, BTC isn't going to replace FIAT just like that if such an impossible scenario were to happen since a small portion of the global population fully trust it.

It's better to practically like something rather than blindly worship it in my opinion.

[khiholangkang]

More logically for the collapsed global economic situation is to save first what can be saved, and I think if our situation is difficult in daily life, then the greatest is likely to melt existing assets to survive with family, because average The average condition when the world economy is experiencing the threat of bankruptcy will make Bitcoin fall down.

But if Bitcoin is a concern when the global economy collapses I think to keep holding Bitcoin and waiting for several more periods to get a large profit, in other words you have enough finances for your needs, I think it is an intelligent step.

not many people can wait for long time. so for me, you need to have other assets that you think can easily be liquidated come the desperate times. i think of gold such gold jewelries, which you can easily pawn if you need funds, or sell. real-estate is hard to dispose when the economy is going down. but if you have the agricultural land, you don't need to sell but tend your own garden and for sure, you will survive by what you can plant on your land.

Yes, of course everyone will transfer their assets to assets that are easy to liquidate, however many need to be saved when the economy collapses.

It's simple logic but it's a very brilliant idea, but it might apply to people who have a plot of land to cultivate.
but that's not, as long as he understands how a hydroponic plantation system works which doesn't have a lot of land for farming, I think it can still be explained by using a small amount of land, maybe that's enough to cover needs for a while.

[Litzki1990]

Collapsing of the global economy won't just suddenly happen out of nowhere at a single day. Of course, we'll see and experience negative impact one by one before the global economy really collapses. So before that thing happen, I'd start preparing for the worse. Holding Bitcoin is one thing that could help us but we can't really say that just because we have enough Bitcoin, we're safe from the economic crisis.
But definitely with the Bitcoin I have given that situation, I will prioritize necessities.

Considering the times that are going on now, don't you ever think that a global economic crisis may be in the future? Right now you must have felt how much the price of every item has increased. I have left out the price of fuel oil essentials or everything else I am just sharing a general point, when the market was normal then surely the price of soft drinks was very normal but if you compare then market and now market then you can clearly understand the difference. Now the amount of money that has to be spent to buy a particular soft drink, when the market is normal, we could buy the same amount of three soft drinks with this amount of money. We have to be alert and prepare now.

[gunhell16]

Of course, if there is a global economic catastrophe, the US dollar will collapse drastically, and when that happens, Bitcoin will climb, and its holders will also profit since they will have large savings as a result of the economy. Bitcoin holders appear to have an alternative remedy in this situation.

Will that actually happen, though? Maybe it will happen if there is a World War III, right? Because it differs from the period of the pandemic, right? since we're discussing collapse here, right?

[dothebeats]

Of course, if there is a global economic catastrophe, the US dollar will collapse drastically, and when that happens, Bitcoin will climb, and its holders will also profit since they will have large savings as a result of the economy. Bitcoin holders appear to have an alternative remedy in this situation.

Will that actually happen, though? Maybe it will happen if there is a World War III, right? Because it differs from the period of the pandemic, right? since we're discussing collapse here, right?

Of course, it is different from the period of the previous pandemic. During the COVID-19 pandemic lockdown, the government still printed money and there are even a lot of drives that they did to ensure that they are able to support the people, especially those who were unfortunate and lost their jobs. In the case of a global economy collapsing, however, that will be unlikely as the government will have to deal with fewer supplies with the demand for help at an all-time high. As for Bitcoin being the saving grace once this catastrophe does happen, I'm not 100% sure. What I do know, however, is that it is always bet to keep hold of our assets as much as we can, especially gold. This reminds me of how my grandparents are keeping some of their golds still within their property to ensure that they wouldn't be in an all time low if even such thing do happen in the future.

[Minecache]

Of course, if there is a global economic catastrophe, the US dollar will collapse drastically, and when that happens, Bitcoin will climb, and its holders will also profit since they will have large savings as a result of the economy. Bitcoin holders appear to have an alternative remedy in this situation.

Will that actually happen, though? Maybe it will happen if there is a World War III, right? Because it differs from the period of the pandemic, right? since we're discussing collapse here, right?

Of course, it is different from the period of the previous pandemic. During the COVID-19 pandemic lockdown, the government still printed money and there are even a lot of drives that they did to ensure that they are able to support the people, especially those who were unfortunate and lost their jobs. In the case of a global economy collapsing, however, that will be unlikely as the government will have to deal with fewer supplies with the demand for help at an all-time high. As for Bitcoin being the saving grace once this catastrophe does happen, I'm not 100% sure. What I do know, however, is that it is always bet to keep hold of our assets as much as we can, especially gold. This reminds me of how my grandparents are keeping some of their golds still within their property to ensure that they wouldn't be in an all time low if even such thing do happen in the future.

The volatility of bitcoin is too high and the level of bitcoin adoption is not yet large enough, these two things make bitcoin still not a safe haven. So I agree with you that we cannot guarantee that bitcoin can save us if the global economy collapses. And you are right again, gold will always be people's first choice and priority, whether we want to believe it or not but people will certainly look for gold. Although many people will not like this fact, as an asset that has been recognized for thousands of years, bitcoin cannot be compared in terms of safety to gold.

[Finestream]

It's true that the world economy is going bollocks!! World currencies going bust and inflation invading most of the world like a swarming hoard of locusts and some will be left to wonder if the dollar would hold much value in the coming years? Well that's where most bitcoiners who are hodling will be glad they got on the moving train and didn't let FUD deprive them of the freedom Bitcoin gives.
Well, if the global economy goes bust, what will I do? I'd take advantage of the situation and purchase more Bitcoin and hold in readiness of the halving period.

The global economy is obviously heading to its downturn. So if you are wise enough, you will use that situation to increase more of your bitcoin hodlings through maximizing your purchase and do DCA as much as there are spare money left. Also, bitcoin is not the only one profitable investment but we also have some real estate and stocks, or gold investment that usually appreciates its price as years go by.

[bayu7adi]

Of course, if there is a global economic catastrophe, the US dollar will collapse drastically, and when that happens, Bitcoin will climb, and its holders will also profit since they will have large savings as a result of the economy. Bitcoin holders appear to have an alternative remedy in this situation.

Perhaps what's truly unfolding is a significant inflation scenario, where the USD and other currencies might plummet in value, making goods progressively more expensive. Those holding BTC could indeed witness a substantial increase in their asset's value in the BTC/USD pairing, and this would be entirely reasonable. BTC, after all, primarily aims to preserve value, whereas if you were to exchange it for USD, you might not observe a significant difference when using it for direct purchases.

BTC's role as a store of value during moments like these proves to be highly beneficial. However, until a global economic crisis more extreme than COVID-19 occurs, we remain uncertain whether BTC can genuinely withstand such an economic upheaval. Or perhaps gold would prove to be superior? Who's to say?

[Texac]

...
 However, until a global economic crisis more extreme than COVID-19 occurs, we remain uncertain whether BTC can genuinely withstand such an economic upheaval. Or perhaps gold would prove to be superior? Who's to say?

Most people are biased bitcoin predicting its value if the world economy collapses, no one knows what will happen at that time, it's all just our prediction and nothing is certain that bitcoin will increase in price if that happens.  like what's going on, we're in an inflationary period but honestly, I don't see bitcoin performing well as a hedge against inflation and it's also being affected by inflation.  it is difficult to make claims that bitcoin will be a good store of value or that it will be dumped if the economy collapses.

Regarding gold, even if bitcoin becomes more popular, I'm pretty sure it still won't surpass gold.  no asset can easily surpass gold, including bitcoin. Gold has been proven and recognized for thousands of years and in those thousands of years, no asset has surpassed gold.  we should be realistic to protect ourselves, not too delusional.

[$anounimus$]

...
 However, until a global economic crisis more extreme than COVID-19 occurs, we remain uncertain whether BTC can genuinely withstand such an economic upheaval. Or perhaps gold would prove to be superior? Who's to say?

Most people are biased bitcoin predicting its value if the world economy collapses, no one knows what will happen at that time, it's all just our prediction and nothing is certain that bitcoin will increase in price if that happens.  like what's going on, we're in an inflationary period but honestly, I don't see bitcoin performing well as a hedge against inflation and it's also being affected by inflation.  it is difficult to make claims that bitcoin will be a good store of value or that it will be dumped if the economy collapses.

Regarding gold, even if bitcoin becomes more popular, I'm pretty sure it still won't surpass gold.  no asset can easily surpass gold, including bitcoin. Gold has been proven and recognized for thousands of years and in those thousands of years, no asset has surpassed gold.  we should be realistic to protect ourselves, not too delusional.

Gold has indeed been proven to be a very valuable asset in any situation, but in the era of very sophisticated technology, Bitcoin can be a tool to protect against inflationary turmoil. Indeed, I also admit that Bitcoin cannot be used as a guide because its value fluctuates, but for me Bitcoin is the first alternative to gold.

Currently changes in the global order are very fast, I will never be fixated on just one commodity. Gold has indeed been proven and is quite safe as a hedge tool, but I will continue to read developments carefully and in a situation like the current one, Bitcoin remains a consideration because it is possible that the price of Bitcoin will rise drastically and will add value quickly even though it has quite high risks too.

[CageMabok]

Gold has indeed been proven to be a very valuable asset in any situation, but in the era of very sophisticated technology, Bitcoin can be a tool to protect against inflationary turmoil. Indeed, I also admit that Bitcoin cannot be used as a guide because its value fluctuates, but for me Bitcoin is the first alternative to gold.

Some people at this time have even made Gold the second asset of choice after Bitcoin, because placing Bitcoin in first place as an asset full of value is also not a problem in conditions like now. Moreover, if they also don't leave gold as an asset which is still good enough to have in every condition, because people who like to own Bitcoin and store it well will not really care about price fluctuations that occur in the market because they can still wait for the price to change. it's better when they care about the price of Bitcoin.

Currently changes in the global order are very fast, I will never be fixated on just one commodity. Gold has indeed been proven and is quite safe as a hedge tool, but I will continue to read developments carefully and in a situation like the current one, Bitcoin remains a consideration because it is possible that the price of Bitcoin will rise drastically and will add value quickly even though it has quite high risks too.

It is indeed time to pay more attention to several commodity assets and also to Bitcoin which has developed over a very long period of time so it is appropriate to consider and pay attention to its further developments. Because Gold will not have much more development other than on the price side which is more likely to remain stable in the long term.

[Shishir99]

I guess I could say we already have the experience on what to do so it won't be hard the next time the economy breaks down again.

To be honest, we don't know how bad it can be. We don't know the depth of the economic crash. Just imagine we have money but there is no food to buy. Or Imagine everyone has money in their pocket but money lost its value a hundred times and your $100 can buy a cake only. There will be nothing to eat. Of course, this is only imagination and I don't think the economic crash will be much worse than I imagined.

My point is don't think you have enough experience before you face it. Always try to be ready to face such situations. If you are living on a rural side, consider planting vegetables and fruit trees.

[Razmirraz]

Needing preparation to face this very dire situation, accumulating Bitcoin is one of the right ideas for storing value. I would choose to live in the countryside because the cost of living there is lower than in the city, using empty land for food needs is an alternative. Rice fields must be managed well to prevent increased expenditure.
Global economic difficulties can be overcome by producing your own food needs by utilizing rice fields, you can plant various kinds of vegetables to prevent falling into global economic difficulties.

[Dunamisx]

Should we actually depends on the global economy for our survival, we have to work on our own and make things happen for us the way we expect, if we are considering the inflation rate and the way the economy isn't stable in many ways, there are other things we could do that will make us self sustainable, we also have to develope our interest in learning self dependent skills, anything that could renders us independent is what we should be fighting for and we can also go into agriculture which is a natural means as long as we can work it.

[pixie85]

The first things I'd worry about in such situation would be my fiat money and my job. I wouldn't do anything with my bitcoin.

It's important to mention that a collapse would not happen in a day. It would be months and you'd be able to see it first in weak economies and then finally in the strongest ones like EU and US.
I'd probably take aot all my money from banks, liquidate all my savings accounts and make sure I'm all in hard assets like real estate, gold, cash and bitcoin.

Then I'd watch it unfold and keep my cars full of gas and all my documents and passports up to date so I can leave and take all my belongings with me. If I lose my job and the bank goes bankrupt there's no reason for me to stay here. I could as well travel.

[Oilacris]

The first things I'd worry about in such situation would be my fiat money and my job. I wouldn't do anything with my bitcoin.

It's important to mention that a collapse would not happen in a day. It would be months and you'd be able to see it first in weak economies and then finally in the strongest ones like EU and US.
I'd probably take aot all my money from banks, liquidate all my savings accounts and make sure I'm all in hard assets like real estate, gold, cash and bitcoin.

Then I'd watch it unfold and keep my cars full of gas and all my documents and passports up to date so I can leave and take all my belongings with me. If I lose my job and the bank goes bankrupt there's no reason for me to stay here. I could as well travel.

Good initiative but only into those people who do have that sufficient funds and money which you could really be able to prepare all of that and considering on travelling into those places on which does have that better economy but we know that when it comes or in talks about global then i do really say that there's no way for you to run but rather it would really be that just pointless on going into those places on which you do really know that it would really be that still the same since that crash or collapse is really that on global scale on which means that no matter where you go then you are still that affected. Whether we do hate it or not, fiat would really be still that relevant and people would really be securing out their cash as much as they could. If ever you do hold up bitcoins then pretty sure you would really be that skeptical on making use of it or would really be that be your last resort of things becomes even more messier later on.

[DVlog]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Do you really think that they will let bitcoin take the place of the Petrodollar? Bitcoin has become as valuable as gold, but you have to understand that mining companies don't run the world. The world leader won't let control go away that easily. If there is an economic shift, this won't happen overnight. It will be a slow and lengthy process, and no one knows what will happen after that.

If bitcoin stays as a store of value like gold, it will survive as an asset class. But if bitcoin needs to take the place of the petrodollar, then there will be no bitcoin for common people. The government will seize it for themselves by any means because of its scarcity.

[nurilham]

I don't forget that coincidence, but can you explain to me, why every time the Fed announces rising inflation and every time they raise interest rates causes bitcoin to correct? Is it another coincidence or is the real impact of the crisis weighing on bitcoin? I still remember every time the government announced that inflation continued to increase and the Fed continued to raise interest rates, the entire financial market was in the red, not just bitcoin. So, I'm pretty sure that without the bear season, bitcoin wouldn't be able to avoid the negative effects of the crisis, let alone assume it would increase in price to help us get through the crisis.

You must understand the impact of news, it really impacts on Bitcoin price. Logically, it influences the demand of investors, they will adjust their investment style whenever there is bad news from FED, SEC, or the like.

Whenever the government made a statement about the bad situation of the economy, surely it will lead to the red market. Investors will prefer to put their money on more secure things. They will have no interest to buy high risks investment like Bitcoin at the moment. Investors also will prioritize to fulfill the urgent needs first than thinking about investment. So, when the demand on the market is decreasing, the price of crypto coins are decreasing too, including the price of Bitcoin.

Until now, bitcoin is still considered a potentially risky speculative asset, not a safe haven. We should accept this reality because we are only at the beginning of the bitcoin revolution.

Yes, Bitcoin is categorized as a high risk investment, it is a speculative asset. I think it is not because we are at the beginning of the revolution, but it is because the nature of Bitcoin and crypto market. We know that Bitcoin has a high volatility and the crypto market is difficult to predict. These are the main reasons why Bitcoin is called as a speculative asset.

[Texac]

...
 However, until a global economic crisis more extreme than COVID-19 occurs, we remain uncertain whether BTC can genuinely withstand such an economic upheaval. Or perhaps gold would prove to be superior? Who's to say?

Most people are biased bitcoin predicting its value if the world economy collapses, no one knows what will happen at that time, it's all just our prediction and nothing is certain that bitcoin will increase in price if that happens.  like what's going on, we're in an inflationary period but honestly, I don't see bitcoin performing well as a hedge against inflation and it's also being affected by inflation.  it is difficult to make claims that bitcoin will be a good store of value or that it will be dumped if the economy collapses.

Regarding gold, even if bitcoin becomes more popular, I'm pretty sure it still won't surpass gold.  no asset can easily surpass gold, including bitcoin. Gold has been proven and recognized for thousands of years and in those thousands of years, no asset has surpassed gold.  we should be realistic to protect ourselves, not too delusional.

Gold has indeed been proven to be a very valuable asset in any situation, but in the era of very sophisticated technology, Bitcoin can be a tool to protect against inflationary turmoil. Indeed, I also admit that Bitcoin cannot be used as a guide because its value fluctuates, but for me Bitcoin is the first alternative to gold.

Currently changes in the global order are very fast, I will never be fixated on just one commodity. Gold has indeed been proven and is quite safe as a hedge tool, but I will continue to read developments carefully and in a situation like the current one, Bitcoin remains a consideration because it is possible that the price of Bitcoin will rise drastically and will add value quickly even though it has quite high risks too.

I understand what you mean, it is true that bitcoin is emerging as an anti-inflation solution that is not inferior to gold if you compare the characteristics that bitcoin possesses.  but if you look at what's actually going on, it's clear that bitcoin is still no better choice than gold and can replace it as a hedge against inflation.  bitcoin is very volatile and is listed as a high-risk asset, so people will be ready to dump it if there is economic turmoil, like what happened during the 2021 crisis.  Maybe in the future things will change as bitcoin adoption becomes more widespread and people use bitcoin more, making it more prominent.  but currently, we cannot deny the fact that it cannot surpass gold.  I prefer bitcoin to gold but what I'm seeing is that demand for gold is still very strong and outperformed bitcoin during the last crisis.

[naira]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

That's true, but the fact is that we cannot be separated from our daily needs, which in the midst of any economic crisis, what needs to be prioritized most is long-term supply. Everyone needs conditions to stabilize the situation, investment is ideal as a suggestion to store value. However, this can only be realized in middle to upper financial conditions. Honestly, we cannot be selfish and only look for solutions for those who already know how to get out of economic pressure.

If you have reached the point where your needs can be fulfilled with just a snap of your fingers, I congratulate you, but if instead you only think about idealism without matching it with actual conditions then you have to wake up from your long sleep and look around to see that in reality we exist in neglected communities.

[Arenga pinnata]

Needing preparation to face this very dire situation, accumulating Bitcoin is one of the right ideas for storing value. I would choose to live in the countryside because the cost of living there is lower than in the city, using empty land for food needs is an alternative. Rice fields must be managed well to prevent increased expenditure.
Global economic difficulties can be overcome by producing your own food needs by utilizing rice fields, you can plant various kinds of vegetables to prevent falling into global economic difficulties.

I think that's a pretty good idea. Because at least even though the economy is experiencing a serious crisis. Then at least we will still have food security for ourselves. So we don't need to worry about the rate of inflation which causes food prices to increase. Planting in rural areas might indeed be a good alternative. But that means we have to buy land in the countryside. And actually I also want to own land in the countryside and manage it while enjoying financial freedom one day. Because living in cities, sometimes when the rate of inflation occurs very quickly, we will be directly affected. And it's not easy at all. Invest in bitcoin and in farmland in the countryside. And living there while growing various kinds of vegetables and food seems like it would be fun. And it will save us a little from global economic chaos.

[dothebeats]

Needing preparation to face this very dire situation, accumulating Bitcoin is one of the right ideas for storing value. I would choose to live in the countryside because the cost of living there is lower than in the city, using empty land for food needs is an alternative. Rice fields must be managed well to prevent increased expenditure.
Global economic difficulties can be overcome by producing your own food needs by utilizing rice fields, you can plant various kinds of vegetables to prevent falling into global economic difficulties.

I think that's a pretty good idea. Because at least even though the economy is experiencing a serious crisis. Then at least we will still have food security for ourselves. So we don't need to worry about the rate of inflation which causes food prices to increase. Planting in rural areas might indeed be a good alternative. But that means we have to buy land in the countryside. And actually I also want to own land in the countryside and manage it while enjoying financial freedom one day. Because living in cities, sometimes when the rate of inflation occurs very quickly, we will be directly affected. And it's not easy at all. Invest in bitcoin and in farmland in the countryside. And living there while growing various kinds of vegetables and food seems like it would be fun. And it will save us a little from global economic chaos.

Although it is not as easy as both of you stated it, I still agree with the idea. Despite the effort and a bit of capital it will take to produce at least a big percentage of our needed food, it is still better than solely relying on the market which we know will be on a all time high. Honestly, if such crisis ever happens then our best bet is to do whatever it takes to survive even if it means leaving the city and learning how to produce our own foods.

[batang_bitcoin]

Should we actually depends on the global economy for our survival, we have to work on our own and make things happen for us the way we expect, if we are considering the inflation rate and the way the economy isn't stable in many ways, there are other things we could do that will make us self sustainable, we also have to develope our interest in learning self dependent skills, anything that could renders us independent is what we should be fighting for and we can also go into agriculture which is a natural means as long as we can work it.

Like farming, gardening and other life skills that we can use for our survival. These skills are being forgotten but if we're going to go with the reality, these skills are very needed and effective if we're going to the point that all we need to do is to survive. We can plant our foods, fruits, vegetables and other agricultural products that we can benefit from these life skills. But if you're not in an area where you can't do this, then adopt and improve yourself to learn other necessary skills that will earn you more money.

[pixie85]

The first things I'd worry about in such situation would be my fiat money and my job. I wouldn't do anything with my bitcoin.

It's important to mention that a collapse would not happen in a day. It would be months and you'd be able to see it first in weak economies and then finally in the strongest ones like EU and US.
I'd probably take aot all my money from banks, liquidate all my savings accounts and make sure I'm all in hard assets like real estate, gold, cash and bitcoin.

Then I'd watch it unfold and keep my cars full of gas and all my documents and passports up to date so I can leave and take all my belongings with me. If I lose my job and the bank goes bankrupt there's no reason for me to stay here. I could as well travel.

Good initiative but only into those people who do have that sufficient funds and money which you could really be able to prepare all of that and considering on travelling into those places on which does have that better economy but we know that when it comes or in talks about global then i do really say that there's no way for you to run but rather it would really be that just pointless on going into those places on which you do really know that it would really be that still the same since that crash or collapse is really that on global scale on which means that no matter where you go then you are still that affected. Whether we do hate it or not, fiat would really be still that relevant and people would really be securing out their cash as much as they could. If ever you do hold up bitcoins then pretty sure you would really be that skeptical on making use of it or would really be that be your last resort of things becomes even more messier later on.

If a real collapse happens fiat currencies will be the first that get affected. You must have seen what happens to currencies when a country goes into war. Ukraine currency went down by 50% when they had the Euromaidan Uprising in 2013 and then again 20% when Russia invaded. Money is the representation of the State.

My opinion is that holding fiat while your economy is in ruins is one of the worst ideas, similar to holding government bonds.

As for holding bitcoin and using it as a last resort money, it depends on how much you own. Someone with 100 bitcoin is not going to count every satoshi.

[superman184]

Although it is not as easy as both of you stated it, I still agree with the idea. Despite the effort and a bit of capital it will take to produce at least a big percentage of our needed food, it is still better than solely relying on the market which we know will be on a all time high. Honestly, if such crisis ever happens then our best bet is to do whatever it takes to survive even if it means leaving the city and learning how to produce our own foods.

If we have the desire to produce food in our own homes in order to survive due to the prolonged crisis conditions, I think people in urban areas also do not need to change their residence or move away from urban areas. Because this kind of thing can also be done in the yard or behind our own house, even though the land area is not very large, but as long as it can still be used for farming and the results can be consumed by ourselves. I think that kind of thing is also very good to do without having to move away from the city.

[flyingcarpet]

Although it is not as easy as both of you stated it, I still agree with the idea. Despite the effort and a bit of capital it will take to produce at least a big percentage of our needed food, it is still better than solely relying on the market which we know will be on a all time high. Honestly, if such crisis ever happens then our best bet is to do whatever it takes to survive even if it means leaving the city and learning how to produce our own foods.

If we have the desire to produce food in our own homes in order to survive due to the prolonged crisis conditions, I think people in urban areas also do not need to change their residence or move away from urban areas. Because this kind of thing can also be done in the yard or behind our own house, even though the land area is not very large, but as long as it can still be used for farming and the results can be consumed by ourselves. I think that kind of thing is also very good to do without having to move away from the city.

First of all, we need to solve the problem of nutrition, which is our most basic need. Many people in the world will try to stockpile food, causing food shortages. That's why we need to find a way to produce our own food.

In such a situation, those who will have the most difficulty will be those living in big cities. When logistics stops, big cities are left helpless. Since any production area will be less than other rural areas, migration from the city to the countryside will begin.

These are the things that come to my mind for now, but if the global economy collapses, more problems will arise.

[m2017]

Honestly if you have BTC congrats !!!

Congratulations on what? Are you sure that bitcoin will allow you to escape from global economy collapses? If this happens, it will definitely affect bitcoin too, but it’s not clear how. I think that the capabilities of btc are overrated and I am not sure that bitcoin will withstand the blow of the global economy collapses.

We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

It's too late to do anything now if global economy collapses happens anytime soon. It was necessary to prepare for this event much earlier.

The question is what exactly to accumulate? If bitcoin collapses greatly during the crisis, then what is the use of saving it? I suppose diversification can't be avoided. You need to stock up on cash so that in the event of a collapse of btc, you can buy it on the cheap. In theory, in any crisis, any form of money and securities collapses, therefore, you need to stock up on material assets, such as canned meat and matches basic necessities. This will be in demand at all times, just like food. Maybe, in order to diversify, invest in food production? For example, in pharmaceutical companies during the pandemic, whose shares have risen in price very much.

[Franctoshi]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Should eventually we head to the verge of a global economic collapse or Tsunami, To be sincere I wouldn't want to run for safety only into one particular asset like Bitcoin, I will spread my funds across these three assets for safety, Bitcoin, Gold, and land property, Should there be a catastrophic event that may cause these assets to tank in price and value so I won't get hugely affected as the rate of negative impact on those assets will vary or be differ.

[beerlover]

I will accumulate assets which will help me in any emergency and these will fund me later if the current system fails.You are definitely right in my opinion.If the world economy collapses, this saying is not applicable now in fact it has already collapsed, now only the effect remains to be seen.We cannot do anything unless we improve our Bitcoin system at the same rate other institutions or industries are improving their systems.One should look now at how to modernize our system in keeping with the times.Apart from this we should look at the productive sectors because it may be impossible to carry forward the system as we have proceeded, but it can be done better if proper measures are taken.Experience given an opinion on this matter. Everyone's opinion reasonable. I think I agree.

This is very true, when there is a collapse, that means it's a chance for people to get richer, and I mean a lot richer, when the economy recovers. Look at 2008, people who invested a ton of money during that time ended up with a profit when the recovery happened, because they knew that if they invested when it was that low, it meant they would get richer when the price started to go back up.

It is going to be hard to do it because it's scary to invest into something that goes down, it's like trying to hold a falling knife as they say, but if you do not hold it then it will fall to your feet, so it's better to try to grab it at least. I personally do it all the time whenever bitcoin price goes down.

[Flexystar]

I am just making sure that my investment stays as it is and I only use funds from my emergency savings. This is also from whole family since we love to have budget with shared responsibility. This does not burden one individual and also makes everyone aware of the emergencies.

This way it helps a lot to keep personal savings untouched and more than that investments like bitcoin and other coins remain untouched as well. As we are aware economic recession usually eat out people from top to bottom by exhausting everything they have. So I have learnt to segregate everything safely. It helps.

[Biznesmen]

Economic collapse is not a simple term, and in this era of globalization, the collapse of one economy can affect all countries in the world. In 1929, the Great Depression in the USA was one of the worst depressions seen, and it lasted a decade. And economic collapse is not a depression or recession; that's worse than that; we cannot imagine how it will impact our lives. Even though we panicked about a percentage increase in inflation, it lasted a few months, and the recession lasted six months. How can we stand with an economic collapse that lasts several years? Above all, the impact is not limited to economics but is also political and social.

[Arenga pinnata]

----

I think that's a pretty good idea. Because at least even though the economy is experiencing a serious crisis. Then at least we will still have food security for ourselves. So we don't need to worry about the rate of inflation which causes food prices to increase. Planting in rural areas might indeed be a good alternative. But that means we have to buy land in the countryside. And actually I also want to own land in the countryside and manage it while enjoying financial freedom one day. Because living in cities, sometimes when the rate of inflation occurs very quickly, we will be directly affected. And it's not easy at all. Invest in bitcoin and in farmland in the countryside. And living there while growing various kinds of vegetables and food seems like it would be fun. And it will save us a little from global economic chaos.

Although it is not as easy as both of you stated it, I still agree with the idea. Despite the effort and a bit of capital it will take to produce at least a big percentage of our needed food, it is still better than solely relying on the market which we know will be on a all time high. Honestly, if such crisis ever happens then our best bet is to do whatever it takes to survive even if it means leaving the city and learning how to produce our own foods.

Basically, we have to make every effort we can to make preparations before the global economy really gets out of control again. We have to be prepared for whatever is in front of us. Start learning how to grow plants or whatever. The most important thing is that if we only have a place in the city, it would be better if we also start collecting funds to have a house in a village which is still full of natural things such as mountains and clean air. The pandemic is over but now the war has spread. This is what makes it difficult for the economy to recover.

Making preparations is sometimes easy to just reduce to planning. But putting it into practice is sometimes not easy to start.

[bayu7adi]

Yes, I do have BTC, and maybe if the global economy completely crashes, I'll hold onto my BTC and also keep an eye on some stocks that can secure my money when the economy recovers. The most important thing when the economy crashes is food supply and home security. After all, we don't want to go hungry, right? So, I'd immediately look for something that can serve as a long-term food supply. This is to avoid the possibility of a food crisis that could happen at any time.

And for security, we definitely don't want civil unrest or chaos. Aside from the threat to safety, economic hardship can lead to riots, and that poses a risk to our lives and property. Instead of relying on luck, it's better to find a safe place, like moving to a secure relative's house. Or beefing up home security in case there's unrest in the area around where we live.

[NewRanger]

Measuring investor sentiment when it comes to cryptocurrencies is very complicated especially now that people have a tendency to say one thing but act the opposite regarding investments, especially when prices fall especially if the global economy crashes and it's even sadder. If we see to,many financial professionals often compare Bitcoin to precious metals such as gold, silver, and platinum if Bitcoin has disappeared. But I don't think that will happen and it's very tempting to book profits.

[CageMabok]

Measuring investor sentiment when it comes to cryptocurrencies is very complicated especially now that people have a tendency to say one thing but act the opposite regarding investments, especially when prices fall especially if the global economy crashes and it's even sadder. If we see to,many financial professionals often compare Bitcoin to precious metals such as gold, silver, and platinum if Bitcoin has disappeared. But I don't think that will happen and it's very tempting to book profits.

There will always be comparisons between Bitcoin and other precious metal assets among many people, especially since they are already familiar with precious metals than Bitcoin. But Bitcoin is able to surpass any precious metal in the not too distant future, both in terms of price and in terms of popularity, so that now it is very difficult for Bitcoin to disappear in the minds of many people and some even think it will always be there forever. So there is no need to think about complicated sentiments because the purpose of getting to know Bitcoin is for financial freedom through profits that can be achieved by investors or everyone who believes in Bitcoin.

[kingvirtus09]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If you believe in Bitcoin, there is no problem if you are confident in it, because there are many people who believe in it, including me. But the solution to every problem that can be faced by a country or every individual is not just one solution that God gives to every problem.

Bitcoin may be the only thing that can help us get back up again if there is a crisis in our lives. Because Bitcoin can't be our only reservation solution for something like what you're saying, what if Bitcoin also has a problem? Do you have any other alternative solution apart from Bitcoin? That is to say,

[jeha2015]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

When hit by an economic crisis, we must be aware of prioritizing investment as our income so that we do not depend on the government. Because for me there is nothing better than investing when the economic crisis hits the world.

At the same time, the government will make things difficult for its citizens and we cannot sit idly by and bear all the consequences. So we need to invest and gain financial freedom. We must take advantage of investment opportunities in gold, bitcoin and property. Despite the difficult economic situation, it is still a good time to consider investing.

[btc78]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

When hit by an economic crisis, we must be aware of prioritizing investment as our income so that we do not depend on the government. Because for me there is nothing better than investing when the economic crisis hits the world.

At the same time, the government will make things difficult for its citizens and we cannot sit idly by and bear all the consequences. So we need to invest and gain financial freedom. We must take advantage of investment opportunities in gold, bitcoin and property. Despite the difficult economic situation, it is still a good time to consider investing.

agreed it’s not necessary to buy huge amounts of btc right away
i saved some money first before investing and planning to continue in saving up so i can buy more at the same time im also saving up for emergencies food and housing are the most important things so i’m thinking of ways to secure that but bottomline is i’m trying to save up as much as i can right away for investment, daily expenses and emergencies

[Promocodeudo]

I won't wait until the global economy collapses before I start buying more Bitcoin, for me the time is now if you must hodl, looking at the recent happenings many nations are considering diversification as the best option, if you have a source of income, and you know truly well that your income can sustain you very well, you can also save from it, use your savings to invest in bitcoin the little you can so that you wont, when doing this make sure it wont affect you, use the amount that wont affect you in any way, the way events are unfolding in the last few weeks, it seems something is cooking, let's not fold our hands and just watch without making a positive move, do your best and be optimistic.

[terrific]

Economic collapse is not a simple term, and in this era of globalization, the collapse of one economy can affect all countries in the world. In 1929, the Great Depression in the USA was one of the worst depressions seen, and it lasted a decade. And economic collapse is not a depression or recession; that's worse than that; we cannot imagine how it will impact our lives. Even though we panicked about a percentage increase in inflation, it lasted a few months, and the recession lasted six months. How can we stand with an economic collapse that lasts several years? Above all, the impact is not limited to economics but is also political and social.

It's a global thing and that's why we have to do what we need to do for us to survive. Those that are badly affected by it really had trouble in recovering.
Up to this time even if people say that the world has recovered a bit from the pandemic and its collapsed economy for most countries, still there are a lot of families that haven't recovered yet.

[TimeTeller]

I won't wait until the global economy collapses before I start buying more Bitcoin, for me the time is now if you must hodl, looking at the recent happenings many nations are considering diversification as the best option, if you have a source of income, and you know truly well that your income can sustain you very well, you can also save from it, use your savings to invest in bitcoin the little you can so that you wont, when doing this make sure it wont affect you, use the amount that wont affect you in any way, the way events are unfolding in the last few weeks, it seems something is cooking, let's not fold our hands and just watch without making a positive move, do your best and be optimistic.

Not all people have the financial capability to buy when they want to.
Also, some people will go into other assets and not crypto, more tangible than this market.
For me, I think, I will keep on buying gold jewelries and maybe a land.
At least, if you have small parcel of land, you can have your own garden and be self-sufficient with some of your food needs.

[poodle63]

Basically, we have to make every effort we can to make preparations before the global economy really gets out of control again. We have to be prepared for whatever is in front of us. Start learning how to grow plants or whatever. The most important thing is that if we only have a place in the city, it would be better if we also start collecting funds to have a house in a village which is still full of natural things such as mountains and clean air. The pandemic is over but now the war has spread. This is what makes it difficult for the economy to recover.

Making preparations is sometimes easy to just reduce to planning. But putting it into practice is sometimes not easy to start.

at the end of the day it all comes down to the agricultural sector again, the key to go against the economy collapses is to preserve technology for agriculture and also keep growing the agricultural sector,
its the first thing needed to be maintained seriously I think, then after that the other resources comes after.
but its definitely not something easy to do considering the fact that nowadays, almost all of the the fields are synchronized one each other, agricultural technology can't run without oil and electricity meanwhile oil and electricity gained from mining and renewable energy but that if we are talking about macroeconomy.
meanwhile as an individual to go against economic collapse is easy, just buy some land for crops and preserve precious metal that alone already prepares you for the worst.

[slapper]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

If you believe in Bitcoin, there is no problem if you are confident in it, because there are many people who believe in it, including me. But the solution to every problem that can be faced by a country or every individual is not just one solution that God gives to every problem.

Bitcoin may be the only thing that can help us get back up again if there is a crisis in our lives. Because Bitcoin can't be our only reservation solution for something like what you're saying, what if Bitcoin also has a problem? Do you have any other alternative solution apart from Bitcoin? That is to say,

Bitcoin has a large following, and I am among those. Bitcoin is powerful, but it's not a cure-all for economic crises. I trust Bitcoin, yet it operates in a complicated economic system. In a crisis, Bitcoin may be resilient. Decentralized and limited supply make it resistant to inflationary pressures that beset fiat currencies during economic downturns. However, if Bitcoin has legislative or technical hurdles, we must have backup plans. Diversification matters. Even with Bitcoin, never put all your eggs in one basket

Therefore, what other options do I suggest? I favour a strong investing portfolio. This includes stocks, bonds, real estate, developing technology, and possibly other cryptocurrencies that complement Bitcoin's value offer. The goal is to build a steel-like safety net that can resist any disaster. This is wise and essential for financial stability

[Arenga pinnata]

Basically, we have to make every effort we can to make preparations before the global economy really gets out of control again. We have to be prepared for whatever is in front of us. Start learning how to grow plants or whatever. The most important thing is that if we only have a place in the city, it would be better if we also start collecting funds to have a house in a village which is still full of natural things such as mountains and clean air. The pandemic is over but now the war has spread. This is what makes it difficult for the economy to recover.

Making preparations is sometimes easy to just reduce to planning. But putting it into practice is sometimes not easy to start.

at the end of the day it all comes down to the agricultural sector again, the key to go against the economy collapses is to preserve technology for agriculture and also keep growing the agricultural sector,
its the first thing needed to be maintained seriously I think, then after that the other resources comes after.
but its definitely not something easy to do considering the fact that nowadays, almost all of the the fields are synchronized one each other, agricultural technology can't run without oil and electricity meanwhile oil and electricity gained from mining and renewable energy but that if we are talking about macroeconomy.
meanwhile as an individual to go against economic collapse is easy, just buy some land for crops and preserve precious metal that alone already prepares you for the worst.

The agricultural sector is actually the most important and is even included in the category of the most important needs for everything in life. Because to live we really need food or sustenance. So food security must really be considered. And you are right that it all comes back to the agricultural sector. Where this sector should get more attention. The government must provide more funds for this. Because a country that has food security will definitely be a country that can prosper its people. Because they indirectly become more powerful even in making relations with other countries. Although all sectors are now connected to the agricultural sector. Like processing land with machines and machines require fuel. But we still have to remember that in several developing countries there are still many agricultural sectors that are managed traditionally. For example, in my country there are still many agricultural sectors that are still managed manually without the help of technology. However, for large areas of land, technological assistance is still needed. But another problem in the agricultural sector is the low level of interest from the younger generation. That's the only thing that really needs to be paid attention to.

[Gozie51]

At least, if you have small parcel of land, you can have your own garden and be self-sufficient with some of your food needs.

I also believe buying land is another hedge to inflation and future investment just like investing in gold. When you have landed properties you are sure that it will keep appreciating as the years go on and with the time such land have appreciate 50 to 100% of the price it was bought. Land is such a fixed investment that is more guaranteed and secured than most investable assets. So when you have invested in land and the world economy collapse, the land is such a security. It can be resold, you can build on it or mortgage it, it can be leased etc.

[Fortify]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

It's strange that some people think that Bitcoin would somehow be useful if the world economy imploded, it would most likely be one of the first things that people would jettison if things got really bad. People are creatures of habit and gold is the traditional safe haven, precisely because it can be held on to physically. People will always tend to retreat to safety. If you have a lot of faith in Bitcoin you might see it as a buying opportunity when people start to cash out. However all this is a bit redundant because you have no better prediction abilities on the world economy that any other self proclaimed expert, recessions are a normal swing and flow of the economy - boom and bust, spending to excess and then having to pay the bill. It all works in pretty regular cycles.

[Antotena]

Yes, I do have BTC, and maybe if the global economy completely crashes, I'll hold onto my BTC and also keep an eye on some stocks that can secure my money when the economy recovers. The most important thing when the economy crashes is food supply and home security. After all, we don't want to go hungry, right? So, I'd immediately look for something that can serve as a long-term food supply. This is to avoid the possibility of a food crisis that could happen at any time.

And for security, we definitely don't want civil unrest or chaos. Aside from the threat to safety, economic hardship can lead to riots, and that poses a risk to our lives and property. Instead of relying on luck, it's better to find a safe place, like moving to a secure relative's house. Or beefing up home security in case there's unrest in the area around where we live.

I understand your urge to secure to your future after global crisis but when this happens in real time, you will forget about investment. Do you know why? Because in emergency situations people don't bother about investment, the primary way to sustenance is food and health. If there is a global economy downturn like we had back then during Corona, food became expensive, people weren't even move about life again, it was about survival and how to stock food at home and basic health facility but I like your courage for trying to buy some stock and hold your bitcoin even in a global economy downtrend.

As for me, family come before anything. I will make sure of their safety, that's all that matters and everything that comes after is secondary. I wl survive with all I have for that period and I will invest the little I can. If I luckily see Bitcoin below $10k which is unlikely , I will buy more of it. I will not look at any investment or even alternative coins because I'm allergic to them.

[Mr.right85]

It's strange that some people think that Bitcoin would somehow be useful if the world economy imploded, it would most likely be one of the first things that people would jettison if things got really bad. People are creatures of habit and gold is the traditional safe haven, precisely because it can be held on to physically. People will always tend to retreat to safety. If you have a lot of faith in Bitcoin you might see it as a buying opportunity when people start to cash out. However all this is a bit redundant because you have no better prediction abilities on the world economy that any other self proclaimed expert, recessions are a normal swing and flow of the economy - boom and bust, spending to excess and then having to pay the bill. It all works in pretty regular cycles.

One of the best things I’ve read today.

It’s so obvious that some of us that are so Pro-Bitcoin wish to see it for all the best things that could come off it and how it could almost in all scenario be the best of any existing aspect to man’s creation but nope, it ain’t that.

Most times, we are just too theoretical to realize that, even the economists of our time aren’t able to solve the economic problems of our time even when given the platform. That’s just how theoretical some of laws about possible scenarios could be.

In a worst economic crisis and crash, you wouldn’t find many investing more or buying to hold when people would be about looking for something tangible to grab, hold unto, something with more backings and all but, Bitcoin isn’t that.
Each, keep your holdings, DCA if you could but, seek means to survive first.

[BenCodie]

Nice topic OP, right on.

The economic shift is definitely happening and it was triggered by covid. Not by the "virus" itself but the economic corruption and changes that happened at that time, that are still having their effects on current events and changes...though it's been a long time coming.

Agree with OP about the changes in the economy in recent years and even in the current context, actually if we look back we have achieved a lot but it seems that it is not enough to continue, the change is necessary and of course adapting to that change to avoid being left behind also requires attention. Not only bitcoin is getting attention, but I also see many new fields and industries appearing that completely change the way they operated before. However, in this forum, when we know about bitcoin, we all believe that the positive impact it creates, I personally am not completely sure but what it has been doing is almost Exactly what we all expected.

This is very well said. People expect an apocalyptic scenario but really the way to go is to adapt to the changes that are happening in the world and in the economy. Find the new opportunities and abandon what no longer works. Ensure your wealth is hedged, and stay vigilant for threats to health and safety if any arise.

[oktana]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

I am not sure you understand what it means for the global economy to collapse. It is highly unlikely to happen because all the countries in the world cannot suffer economic crises and recessions simultaneously (at the same time). But if a country where Bitcoin is legal were to have economic crises and recessions, one of the great things we could see around Bitcoin would be an increased adoption. While there would definitely be a positive impact on the price, it could also affect Bitcoin negatively because people could lose trust in financial systems as a whole considering that the traditional (long trusted) system failed.

[ndutndut]

There will always be comparisons between Bitcoin and other precious metal assets among many people, especially since they are already familiar with precious metals than Bitcoin. But Bitcoin is able to surpass any precious metal in the not too distant future, both in terms of price and in terms of popularity, so that now it is very difficult for Bitcoin to disappear in the minds of many people and some even think it will always be there forever. So there is no need to think about complicated sentiments because the purpose of getting to know Bitcoin is for financial freedom through profits that can be achieved by investors or everyone who believes in Bitcoin.

In times of bad global economic crisis, of course many people are making efforts to look for promising asset protection. Ordinary people will certainly choose precious metals over Bitcoin because they are still afraid of investing in Bitcoin, and it is natural that they may not know the full advantages of Bitcoin.

And for us, when the economic crisis hits, of course bitcoin is the best choice because bitcoin has experienced high popularity and is even superior to precious metals. Apart from that, bitcoin is safer because no one controls it, so it can be concluded that bitcoin is freedom.

Apart from investing in bitcoin, the best way to deal with the economic crisis is to increase your income by taking advantage of technological developments that have developed rapidly. The point is that we must not just remain silent but must continue to be productive.

[Renampun]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Knowing Bitcoin from the start is a blessing for many people, just imagine that in the last few weeks the price of Bitcoin has continued to increase and that shows clearly that the very volatile price of Bitcoin will continue to be like that. It is very likely that the price of Bitcoin will penetrate the ATH before or after the halving occurs. Well, anyone who has bought Bitcoin, either by DCA or buying the dip, I congratulate you, Bitcoin is an investment asset that will definitely never make a loss and is very good for the economy.

[coupable]

Measuring investor sentiment when it comes to cryptocurrencies is very complicated especially now that people have a tendency to say one thing but act the opposite regarding investments, especially when prices fall especially if the global economy crashes and it's even sadder. If we see to,many financial professionals often compare Bitcoin to precious metals such as gold, silver, and platinum if Bitcoin has disappeared. But I don't think that will happen and it's very tempting to book profits.

I don't understand why everyone believes that they will be able to survive the collapse of the global economy just because they are saving Bitcoin or other crypto. The collapse of the global economy means that everything will lose its value, especially intangible assets that do not provide a tangible benefit. The collapse of the global economy is supposed to include energy production companies and Internet supply companies, and thus Bitcoin will no longer have any value.
It is a mistake to think that Bitcoin, or crypto in general, is capable of isolating us in a parallel economic system and relieving us from the scourges of the existing economic system.
Expectations indicate that in such extreme scenarios, people will return to stores of mineral wealth such as gold and silver to use them in something similar to a circumstantial exchange system in order to fulfill the basic needs for survival.

[dezoel]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Knowing Bitcoin from the start is a blessing for many people, just imagine that in the last few weeks the price of Bitcoin has continued to increase and that shows clearly that the very volatile price of Bitcoin will continue to be like that. It is very likely that the price of Bitcoin will penetrate the ATH before or after the halving occurs. Well, anyone who has bought Bitcoin, either by DCA or buying the dip, I congratulate you, Bitcoin is an investment asset that will definitely never make a loss and is very good for the economy.

Us that are very late already consider it as a huge blessing, so how much more those who knew it from the start? Deym, I think those people can even build a statue of Satoshi in their backyard and maybe build a church like building for them and other Bitcoiner's to praise Satoshi and his creation BTC at a specific period of time. And maybe they can also share their ideas there to each other about BTC if how can they improve or how can they help BTC more to grow.

BTC is volatile which means, there are also times where the movement will shift in the other direction. But that's okay, at least we can buy at low and we can simply wait for the price again to recover in order for us to sell for profit. If we can attain ATH before halving then great but if not, I'm still cool with it. I'm already happy and contented that BTC helps me a lot of times and for more years to come especially when there are problems with the economy, whether personal or global.

[CageMabok]

In times of bad global economic crisis, of course many people are making efforts to look for promising asset protection. Ordinary people will certainly choose precious metals over Bitcoin because they are still afraid of investing in Bitcoin, and it is natural that they may not know the full advantages of Bitcoin.

If that is also very natural for you, I think there is no need to tell about ordinary people who trust precious metals more because they don't know about Bitcoin. It will only waste your time thinking about them because when they know more about Bitcoin, they will definitely choose Bitcoin as their future investment even though they also don't forget the precious metal that they have long entrusted to protect the value of their own assets.

And for us, when the economic crisis hits, of course bitcoin is the best choice because bitcoin has experienced high popularity and is even superior to precious metals. Apart from that, bitcoin is safer because no one controls it, so it can be concluded that bitcoin is freedom.

It is clear to those who know a lot about Bitcoin that some people no longer put their money into any precious metal when they believe so much in Bitcoin investment. Apart from Bitcoin being considered a freedom to invest, Bitcoin has also been proven to accurately save everyone from economic downturns in the long term. We can see this through investors who have benefited a lot from Bitcoin investments under any circumstances.

Apart from investing in bitcoin, the best way to deal with the economic crisis is to increase your income by taking advantage of technological developments that have developed rapidly. The point is that we must not just remain silent but must continue to be productive.

Silence is not the right solution in all conditions and situations, because everyone needs to increase their income all the time in order to be able to face difficult economic conditions. Investment is a way or path that can be taken by everyone to be able to overcome difficulties, and continuing to be productive is part of the efforts that must be made so that no one deserves to quit their job or remain silent as you mean.

[nurilham]

Knowing Bitcoin from the start is a blessing for many people, just imagine that in the last few weeks the price of Bitcoin has continued to increase and that shows clearly that the very volatile price of Bitcoin will continue to be like that. It is very likely that the price of Bitcoin will penetrate the ATH before or after the halving occurs. Well, anyone who has bought Bitcoin, either by DCA or buying the dip, I congratulate you, Bitcoin is an investment asset that will definitely never make a loss and is very good for the economy.

For people who understand well  how to invest in Bitcoin, knowing Bitcoin is surely a blessing. But for people who invest in Bitcoin in a careless way, knowing Bitcoin can be a nightmare for them. Not every one who invests in Bitcoin ends up with gaining profits. Those people who buy in the bullrun season and they failed to take profits, probably ends up with losses if they are not patient to wait for another bullrun season and decided to sell during the bearish season. It is not impossible, there are people who don't have a big patient and they are easily influenced by the FUDs, too.

Regarding the progress of Bitcoin growth currently, it looks very impressive. It already passed $37k, which means it already increased more than a half of its latest ATH ($69k). Many people expect that Bitcoin price can pass $40k in the near future. Well, I think it is too early to congratulate everyone who invest in Bitcoin. You can say that after Bitcoin price can pass $69k. 

[flyingcarpet]

At least, if you have small parcel of land, you can have your own garden and be self-sufficient with some of your food needs.

I also believe buying land is another hedge to inflation and future investment just like investing in gold. When you have landed properties you are sure that it will keep appreciating as the years go on and with the time such land have appreciate 50 to 100% of the price it was bought. Land is such a fixed investment that is more guaranteed and secured than most investable assets. So when you have invested in land and the world economy collapse, the land is such a security. It can be resold, you can build on it or mortgage it, it can be leased etc.

Buying land is one of the safest investments. Even if we do not consider the situation as an investment, it is a nice feeling to buy land and have your own place. People love and embrace their own spaces more.

What you said is among the options in case the global economy collapses. Soil is always a security and your own space to grow crops. Therefore, the importance of owning land is vital in a possible global economic collapse.

Lands always have a profitable structure as an investment tool. It is also an important investment tool in terms of protecting the value of money against inflation.

[YUriy1991]

Bitcoin is always a hot and interesting topic. To prepare for potential global economic difficulties there must be. What is certain is to continue to update and follow economic news and study market trends.

If the fundamental condition of an asset gets worse, there may be special considerations and the most difficult thing is to let go of the asset, especially if it cannot withstand fluctuations in asset value and another solution is to have emergency reserves in fiat currency or easily accessible liquid assets.

[harapan]

First of all,the collapse will likely affect everyone including the rich and poor,there's no more support or backup from anywhere because the economic downturn has literally affected all the activities of so many countries which will result to inflation,unemployment,a lack of resources, and the failure of financial institutions.
  There's no hiding place because its a global challenge and that's why the government should do/put everything in order to ensure that there's a smooth running of the economy.

[Albarq]

Collapse in global economy will not suddenly happen like in a day, there's will be a time every countries will have a problem about high inflation rate, demonstration, food shortage etc. Since I save almost all of my money in Bitcoin, I don't have to worry about that, but I will convert my Bitcoin to fiat and buy food as much as possible in order to survive. I also have a garden in my house, so I can plant many fruits and vegetable, so I still can survive alone without buying an expensive foods.

In this situation, firstly, if the economy is facing potential difficulties at the global economic level with many potential difficulties that it has to go through and prepare to face the possibility that will occur with a weakening of the system, we start from ourselves by shopping for the basics only and saving as much as possible on our expenses by pressing like that. It is hoped that in the long term our supplies will not run out quickly. As a Bitcoin user, I will definitely sell and invest productive land to be used as agricultural land to prevent the impact of high prices of basic commodities.

[Rabata]

Honestly if you have BTC congrats !!! We are heading  into a major economic shift and I feel like when the tides are turning like this there should be a conscious effort to land on the right side of that shift!!! Am I right? What should bitcoiners be doing right now to prepare for a potential global economic hardship other than the obvious which is to hodl and accumulate as much as you can...

Day by day we are exposed to various negative things. Neither the political environment nor the economic environment is in good shape at present. If we talk about economical recession it is increasing day by day. And it's not unusual to be restless as an investor in this situation. I think it is perfectly safe to collect bitcoins for those who are investors.

Investing in this platform on the one hand as a hedge against inflation and on the other hand will be a good asset retention mechanism during these tough times. The global situation is getting worse so advance planning must play an important role in making a good decision to avoid risks. And there is no substitute for Bitcoin accumulation to protect against inflation and other financial disasters.

[Xcode7]

First of all,the collapse will likely affect everyone including the rich and poor,there's no more support or backup from anywhere because the economic downturn has literally affected all the activities of so many countries which will result to inflation,unemployment,a lack of resources, and the failure of financial institutions.
  There's no hiding place because its a global challenge and that's why the government should do/put everything in order to ensure that there's a smooth running of the economy.

The government will certainly try hard to recover it, but we ourselves must also be ready to accept such a situation. In order to survive, efforts must be made without expecting help from anywhere, including the government.
I think that saving or having the skills to earn money is one way to survive when the global economy is bad, it will have an impact on all groups and whether we are ready or not when the situation gets worse, we have to be ready.

[topbitcoin]

If the economy is in a slump or decline, of course everyone will be affected, and it will be quite difficult for someone to survive in a situation like this. Especially if someone doesn't prepare everything well, doesn't have savings or investments. In circumstances like this, it is possible that some people will lose their jobs and no longer have income, while for those who continue to maintain their jobs, it is very likely that their income or wages will decrease.

So that we can survive in conditions like this, we have to make adjustments between expenses and income, by identifying which areas where expenses are in line with our income. In conditions like this, for lower middle class people it may be quite difficult to survive in a city with high prices. Moving to the village or returning to my hometown, I think that is the right solution to survive in this situation, returning to being a farmer, is the next step I will take. Because if we buy everything, it will probably be quite difficult for us to meet our daily needs, especially the need for food.