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

[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.

[1714239934]

1714239934

[1714239934]

1714239934

[1714239934]

1714239934

[1714239934]

1714239934

[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.