Assface16678
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October 29, 2023, 11:52:20 PM |
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I slightly disagree about the statement, I both trade bitcoin or crypto and gold or forex, and for me both have pros and cons, bitcoin is long term investment while forex or gold is short term there are periods where you can trade gold, or session what they call. While in bitcoin there are not specific date or time where we can trade and earned a lot. So for me both still the safe haven, it depends on people who trades and for me they are both a valuable asset which gives me a lot of profit potential. And I know many also trade in both forex and crypto and I'm sure they also both love crypto and forex, as crypto for long term with a huge potential profit, and forex which a short term and also can offer a huge profit, it will depends on skillful you will trade.
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Ayers (OP)
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October 30, 2023, 02:35:48 AM |
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But as many others have pointed out, bitcoin's volatility is still very high, and it can be manipulated, so considering it a safe haven is not entirely correct.
I would not worry so much about whether it meets the traditional definition of a safe haven asset because of volatility, but whether it is a good long-term investment vehicle. Yes, it is very volatile today, although volatility will reduce over time, but if we compare it to gold in terms of returns since bitcoin was launched, there is no comparison. Yes, bitcoin is a good investment because its returns are superior to other investments. But I think good investment doesn't necessarily mean being considered a safe haven, I think they're different. To become a safe haven, it is necessary to meet many factors such as safety in terms of acceptance, popularity, stability...bitcoin still does not meet all the requirements to become a safe haven. Bitcoin is a high-return but still high-risk investment, so I think there's nothing wrong with people still not considering it a safe haven.
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YUriy1991
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October 30, 2023, 02:50:53 AM |
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Bitcoin is a volatile asset, but in short term. If you want to hold bitcoin for a long time and not selling, it is a store of value. Bitcoin price has proven that up to now.
Bitcoin is superior to gold because its total supply is limited and not more than 21 million in total. But gold is still superior because it is the asset with the largest marketcap in the world.
It is very appropriate in this case if you say Bitcoin is superior to gold and I personally see that currently Bitcoin is the most talked about of various currencies recently. Well, if we believe in Bitcoin as an asset, we should naturally continue to hold it even though Bitcoin also has an element of volatility about it and it is unlikely to disappear anytime soon but in the long run, BTC maintains its true value.
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JunaidAzizi
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October 30, 2023, 03:01:58 AM |
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What do you think about this and should we stop calling bitcoin a risky investment?
No, I don't think that this word suits Bitcoin perfectly. If Bitcoin is volatile and risky then how we can say that it's not risky and safe? If you hold it for a long period then up to the extent you can call it safe but we know the price of Bitcoin goes up and down every day so calling it not risky is not suitable. we need to clarify the idea for the newcomers if they hear that Bitcoin is safe and they invest all their money what would happen maybe they lose all of their funds so calling it risky and volatile I think is the best. On the other hand, Bitcoin is superior to gold, the supply of Bitcoin is limited while gold is unlimited having a large market cap but this makes Bitcoin unique and there is a large difference between their prices as well.
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Sebas.tian
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October 30, 2023, 03:28:02 AM |
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Bitcoin has proven to the whole world by remain the king among other cryptocurrencies, and more safe than gold and other centralized currency that is attracting people to embrace the potential asset so that they will have something suitable to achieve when the price of Bitcoin hit higher. There is no way you can embarked on the risk to invest a huge amount of money on Bitcoin and hold for long term and have something to fear because it will bring out a good results when it is time. I think, Bitcoin still stand as the best coin to invest in this bearish season, because the market price is still suitable for long and short term investors to make a good choice in this season to invest in Bitcoin.
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yazher
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October 30, 2023, 04:17:03 AM |
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I think in some countries other assets are more vulnerable because of how their governments control them and when you compare it to holding bitcoins, it's more praise-worthy than having a piece of land that you can't use for some reason. I think Bitcoin is a blessing to have right there and anyone can have it as long as they know how to securely keep it and prevent others from dictating when they will need to sell it because the owner has all the free will when he wants to sell it. Also, it is the safest asset to have when you need to migrate from place to place because you could just simply pretend that you don't have anything while you are bringing with you thousands of dollars worth of Bitcoins.
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Minecache
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October 30, 2023, 04:23:27 AM |
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Bitcoin has proven to the whole world by remain the king among other cryptocurrencies, and more safe than gold and other centralized currency that is attracting people to embrace the potential asset so that they will have something suitable to achieve when the price of Bitcoin hit higher. There is no way you can embarked on the risk to invest a huge amount of money on Bitcoin and hold for long term and have something to fear because it will bring out a good results when it is time. I think, Bitcoin still stand as the best coin to invest in this bearish season, because the market price is still suitable for long and short term investors to make a good choice in this season to invest in Bitcoin.
I agree that bitcoin is the best cryptocurrency, and obviously everyone, even those new to the market, knows it. But if you say bitcoin is safer than gold, I disagree with this statement. Gold is still recognized by the world as a safe haven, while in people's eyes bitcoin is still just a risky asset. So how can we say bitcoin is safer than gold? Bitcoin will provide better returns than gold because of its volatility but will be riskier than gold. Going back to the OP's question, I think bitcoin cannot yet be considered a safe haven like gold, just because a company claims it doesn't mean they are right. We need worldwide recognition for bitcoin to truly become a safe haven.
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Blitzboy
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October 30, 2023, 08:38:25 AM |
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I think in some countries other assets are more vulnerable because of how their governments control them and when you compare it to holding bitcoins, it's more praise-worthy than having a piece of land that you can't use for some reason. I think Bitcoin is a blessing to have right there and anyone can have it as long as they know how to securely keep it and prevent others from dictating when they will need to sell it because the owner has all the free will when he wants to sell it. Also, it is the safest asset to have when you need to migrate from place to place because you could just simply pretend that you don't have anything while you are bringing with you thousands of dollars worth of Bitcoins.
Because of government controls, you're saying that traditional assets are, lets be honest, a joke in some places. But Bitcoin gives you freedom that you cant get anywhere else. Its a seductive idea, isnt it? Feeling like no one can touch, change, or force you to give up a treasure. Now thats power. That is command. And its exciting to think that you could have that power, especially when other things you own are taken away by rules and red tape. And this is where I raise an eyebrow, though. Great power comes with great duty, and yes, Bitcoin might give the impression of complete control, but its also very cruel and wont forgive anything. You are open to attack if you arent very good at protecting your bitcoins. Oh, and the thought of moving with a digital gold chest hidden away? Yes, its smart, but it's also dangerous. How many times have we seen people get too sure of themselves and then lose because of it?
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Texac
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October 30, 2023, 09:02:18 AM |
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After all, bitcoin is just an investment and cryptocurrency is a financial market.
This is not true, BTC isn't just an investment as you say, take note that BTC is only used as an investment because the price is volatile, BTC was created as money, a censorship resistant and permissionless money that you can send to anyone anywhere in the world. Because of the volatile nature of BTC, you can buy it now and sell it later for a higher price, but that is not the purpose for which it was created, but it is your keys and you can do as you feel with your coins. Bitcoin has been growing for 14 years now and we all, including you, are here for the profits that bitcoin brings. you should stop repeating the concept of bitcoin as a currency and payment method to say that it is not an asset, an investment. don't always take those things out to talk about bitcoin, let's look at what bitcoin has become and is becoming. Do you use bitcoin as a means of payment on a daily basis? or will you use the excuse that people haven't accepted it yet, or your government doesn't allow it, so you can't do it? if you truly see bitcoin as a currency and want it to grow that way, you will fight for it, not just talk and talk.
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Septex
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October 30, 2023, 09:08:45 AM |
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Bitcoin is definitely a safe haven in cryptocurrencies. It is the best electronic currency in the market. But you can't use it everywhere like gold. In terms of security you can store bitcoins without anyone knowing exactly how much bitcoins you have. But it has some downsides like its price tends to fluctuate but it's not a big deal. If the price goes up you will definitely gain more than all the other assets. But overall I think gold and bitcoin are both reliable
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Luzin
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October 30, 2023, 09:32:08 AM |
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Going back to the OP's question, I think bitcoin cannot yet be considered a safe haven like gold, just because a company claims it doesn't mean they are right. We need worldwide recognition for bitcoin to truly become a safe haven.
The problem is that currently Bitcoin is only recognized in a few countries, even the world bank IMF has given stern warnings and penalties to countries that dare to legalize Bitcoin as a currency or legal tender. So I totally agree with you, Bitcoin cannot be tied to Safe haven assets at the moment. It is more of an asset that provides the highest return. We'll never know if Bitcoin will go and grow. Because now they are just commodities. At times they may be lost or worthless. So if you say Safe Haven Assets maybe Gold is the best answer.
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Minecache
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November 02, 2023, 07:03:52 AM |
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Going back to the OP's question, I think bitcoin cannot yet be considered a safe haven like gold, just because a company claims it doesn't mean they are right. We need worldwide recognition for bitcoin to truly become a safe haven.
The problem is that currently Bitcoin is only recognized in a few countries, even the world bank IMF has given stern warnings and penalties to countries that dare to legalize Bitcoin as a currency or legal tender. So I totally agree with you, Bitcoin cannot be tied to Safe haven assets at the moment. It is more of an asset that provides the highest return. We'll never know if Bitcoin will go and grow. Because now they are just commodities. At times they may be lost or worthless. So if you say Safe Haven Assets maybe Gold is the best answer. As far as I know, safe haven means that the asset not only needs to meet profits but its safety needs to be guaranteed and in this case only gold can meet that requirement. With thousands of years of existence and recognition around the world, along with stability in value, gold is truly a safe haven. As for bitcoin, the asset that brings the highest profit but also has the highest risk, it does not meet the safety level. People just looking at its profitability and assuming it is a safe haven are incorrect, making that claim just because we are showing bias towards bitcoin.
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SeriouslyGiveaway
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November 02, 2023, 08:36:07 AM |
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Previously, not only did the world consider bitcoin a highly volatile and high-risk asset, but even those of us who invested in bitcoin considered it a high-risk asset. But I think we should gradually change that concept as well as change the way we call it, bitcoin is no longer a risky asset. Recently AllianceBernstein, an asset manager with $699 billion, called bitcoin a safe haven and even more attractive than gold.
For me, this is the first time I've seen a traditional company admit and call bitcoin a safe haven and consider it superior to gold. What do you think about this and should we stop calling bitcoin a risky investment?
- The situation with Bitcoin and the cryptocurrency market seems pretty clear now. The risk of it disappearing or collapsing has significantly diminished, and many countries are rushing to establish regulatory laws. Large organizations are competing for the privilege to issue Bitcoin ETFs. In the past, Gold wasn't in such high demand, but now things are gradually falling into place for Bitcoin and the cryptocurrency market. - I strongly believe that the approval of Bitcoin ETFs will mark a new chapter for Bitcoin. It will no longer be seen as a high-risk asset. In terms of storing value and conducting transactions, Bitcoin has clearly surpassed gold and other asset classes. Especially in today's increasingly volatile world with the risk of a WW3, Bitcoin truly serves as a safe-haven asset.
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Xcode7
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November 02, 2023, 08:49:46 AM Merited by fillippone (1) |
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As far as I know, safe haven means that the asset not only needs to meet profits but its safety needs to be guaranteed and in this case only gold can meet that requirement. With thousands of years of existence and recognition around the world, along with stability in value, gold is truly a safe haven. As for bitcoin, the asset that brings the highest profit but also has the highest risk, it does not meet the safety level. People just looking at its profitability and assuming it is a safe haven are incorrect, making that claim just because we are showing bias towards bitcoin.
Experiencing an increase when world economic conditions are not good has been proven by Bitcoin and Bitcoin prices can remain stable even though the world economy is deteriorating, but to maintain its value over a long period of time has not been proven so we cannot consider Bitcoin as a safe haven asset. . Maybe everyone has different views, but personally for me only gold can be called a safe haven asset. The level of profit on Bitcoin investment is quite large, so the risk will also be comparable. There is no investment that has the possibility of large profits but small risks, except investment in real estate, which is also risky and has a long time to make a profit. I think all investments will be worth it with all the possibilities and risks. So in that way I think Bitcoin is in a different position.
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BITCOIN4X
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November 02, 2023, 09:24:21 AM |
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~Snip
As far as I know, safe haven means that the asset not only needs to meet profits but its safety needs to be guaranteed and in this case only gold can meet that requirement. With thousands of years of existence and recognition around the world, along with stability in value, gold is truly a safe haven. As for bitcoin, the asset that brings the highest profit but also has the highest risk, it does not meet the safety level. People just looking at its profitability and assuming it is a safe haven are incorrect, making that claim just because we are showing bias towards bitcoin. I think bitcoin has the best level of security ever seen in a financial system. Bitcoin can never be hacked, but in many cases of hacking it is the fault of the users. Mistakes in using or practicing security methods make users lose their bitcoins regardless of whether they are stolen or due to other reasons such as losing access to the wallet. I believe bitcoin is one of the safest assets ever, but it depends on how users secure it. Maybe you are right, bitcoin is not a safe haven but bitcoin deserves to be considered as a risky hedge. Not much different from gold, Bitcoin is believed to have good advantages as a hedge during inflation, although its price volatility can make the asset's value fluctuate.
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Eh Moo Nah
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November 02, 2023, 10:39:42 AM |
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For me I will still not preach that Bitcoin is a safe haven asset. It will never be safe regardless if there is one company who post that it is a safe haven.
If I have bitcoin(s), I will never let someone take care of my crypto. I will do it on my Own. I will never ever be confident allowing other brain handle my asset.
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Pingrapole
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November 02, 2023, 10:50:51 AM |
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Bitcoin is a volatile asset, but in short term. If you want to hold bitcoin for a long time and not selling, it is a store of value. Bitcoin price has proven that up to now.
Bitcoin is superior to gold because its total supply is limited and not more than 21 million in total. But gold is still superior because it is the asset with the largest marketcap in the world.
I agree with you In fact, we see that if someone holds Bitcoin as a long-term investment, it will definitely make a good profit And we newbies are seeing that Bitcoin has been proving since past history that there is less failure if one buys it. Another is more valuable than gold.
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savetheFORUM
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November 02, 2023, 05:15:21 PM |
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As far as I know, safe haven means that the asset not only needs to meet profits but its safety needs to be guaranteed and in this case only gold can meet that requirement. With thousands of years of existence and recognition around the world, along with stability in value, gold is truly a safe haven. As for bitcoin, the asset that brings the highest profit but also has the highest risk, it does not meet the safety level. People just looking at its profitability and assuming it is a safe haven are incorrect, making that claim just because we are showing bias towards bitcoin.
Gold and Bitcoin both have their advantages and disadvantages. I understand that gold tends to be a safer asset when compared to Bitcoin and the reason for that is because it doesn't lose much value for years and keeps going up in terms of price which is not the case with Bitcoin. Bitcoin tends to be more volatile which makes it both good and bad, good because it can go up significantly within a very short period, and bad because it can also drop significantly in no time. So, you guys are right to say that Gold can be considered a safer option when it comes to storing wealth for the long term, whereas Bitcoin can be the best investment option when it comes to profits because it has the potential to grow exponentially which can provide one with significant profit in a very short timespan.
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Marvell1
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November 03, 2023, 06:12:49 AM |
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~Snip
As far as I know, safe haven means that the asset not only needs to meet profits but its safety needs to be guaranteed and in this case only gold can meet that requirement. With thousands of years of existence and recognition around the world, along with stability in value, gold is truly a safe haven. As for bitcoin, the asset that brings the highest profit but also has the highest risk, it does not meet the safety level. People just looking at its profitability and assuming it is a safe haven are incorrect, making that claim just because we are showing bias towards bitcoin. I think bitcoin has the best level of security ever seen in a financial system. Bitcoin can never be hacked, but in many cases of hacking it is the fault of the users. Mistakes in using or practicing security methods make users lose their bitcoins regardless of whether they are stolen or due to other reasons such as losing access to the wallet. I believe bitcoin is one of the safest assets ever, but it depends on how users secure it. Maybe you are right, bitcoin is not a safe haven but bitcoin deserves to be considered as a risky hedge. Not much different from gold, Bitcoin is believed to have good advantages as a hedge during inflation, although its price volatility can make the asset's value fluctuate. If we talk about security, I agree that bitcoin is the safest asset to date because it cannot be hacked and bitcoin owners will have full ownership and management of their assets. But talking about safety, we need to evaluate many other factors and clearly bitcoin cannot be a safe haven like gold. As for whether bitcoin is actually a good inflation hedge, I think it doesn't really do a good job of it yet. If you consider it a good inflation hedge, why wouldn't you consider it a safe haven?
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Mate2237
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November 03, 2023, 06:30:16 AM |
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I have read some comments even not all and I will also say that bitcoin is not risky asset compare to other valuable assets in the world. As others as said, those that have not gotten the full knowledge of bitcoin can say bitcoin is one of the risky asset. If you invest in the bull market then you are not expected to sell your coins in that period, you have to prepare yourself to face the bear market and in the next bull market you sell off your coins if it surpasses the previous price.
So in bitcoin, you are not losing and instead you all win. So what is the risk involved in it. I have seen big men and women in the forum saying that bitcoin is risky. How? Is it because of the bear market? Bitcoin investment is just a calculation and when calculate the mathematics well before investing in it, then I don't think you will loss anything.
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