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

[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.