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Topic: Will people start moving their savings to Bitcoin in case of a financial crash? (Read 3564 times)

aoluain

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 02:29:23 PM

#21

I think more and more people are buying into BTC and crypto
but I'm not so sure everyone is in it in case of a financial crash
or security for the future.

Sure there are a number of people who are in for the long haul
but I think personally that there are quite a lot of ordinary people
in at the moment for the "get rich quick" deal.

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FiNaLize

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 02:35:08 PM

#22

Crashes are bound to happen, but his specific prediction is unlikely. Satoshi invented this coin to make it independent from banks, so yes if a crash does happen people will start moving the funds to BTC/alts.

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franco123

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 03:00:17 PM

#23

In my opinion, Bitcoin is just one of the options to minimize the risk of being affected by a financial crash. The world economy is very unpredictable which makes it hard to predict when a financial crash will occur. Everything can be affected by a financial crash which is why it is not appropriate to move ALL your savings to Bitcoin. However, it is possible to diversify the risk of a financial crash by putting up your money in to different financial instruments. You can use Bitcoin as one alternative financial instrument since it was already established for quite some time. But you should also save or invest your money in some other financial instruments like in bank, business, real estate, stocks/bonds etc. Just remember this saying when diversifying the financial risk, "Do not put all your eggs in one basket".

bitbunnny

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 04:38:41 PM

#24

Many finamcial crashes happened so far and never people have the alternative like Bitcoin or some other cryptocurrency. Still Bitcoin is too volatile and has some disadvantages that stop it from beeing secure alternative and although many people don't like banks Bitcoin doesn't seem as the only option and that is axt good because you always have to diversify your investments.

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gentlemand

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 04:41:11 PM

#25

There seems to be a full time cottage industry of people predicting the death of the dollar and financial crashes. Maybe one day they'll be right. In the meantime I do not value their opinion.

If there was a crash now then hardly anyone would use BTC as a lifeboat. It's a speculative plaything and would be the first to go if people got truly squeezed.

Kprawn

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 04:44:05 PM

#26

Quote from: richsoon on June 12, 2017, 01:54:46 PM

Bitcoin, gold and ethereum I think and with the way things are going now it looks like Ethereum is the safer bet too.

In any case I think crypto has cemented its place in our world for generations to come.

Hope you not using drugs when you making investment decisions. Roll Eyes

If you look closely at Ethereum you will notice that it was put together in a

way to try to bypass legislations and laws applicable to Securities. They included the usual things people try... Non Profits Trying to pass it off as

a "Token" .... They will try to get away with this as long as they can. They being the Developers and the founders and people who got paid to

work on the platform. A contract is a contract and a speculative contract is even worst. Ethereum is going to make some people rich and some will

go bankrupt. One of the founders saw this early on..{just after the DAO} and he jumped ship. Angry

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BillyBobZorton

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 04:47:17 PM

#27

Quote from: Amph on June 12, 2017, 05:11:54 AM

this same collapse was predicted so many time it's not funny anymore, and it did not happen each tiem it was predicted, i guess eventually some fiat will crash in the future

but thinking that all the fiat will crash and people start to move on bitcoin is silly, they will play the same game about printing more money out of thin air and paying the debt with more debt

Fiats have a life expectancy of 100-150 years, so according to past events, we should be seeing in the fall of the dollar somewhere around 2020-2040... who knows what will happen.

If bitcoin manages to stay safe from hardforking drama and remains a solid network, im sure people will look into buying some bitcoin as an hedge against a massive fiat crash.

itsallpc

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 05:06:20 PM

#28

Definitely people would do that.Even i personally saw many rich people shifting their investments into bitcoin when the indian government banned the high value notes as a result of demonitization.Lots of black money holders safely moved their savings in to bitcoins to escape from income tax department.The same would happen when a economic crisis hits the world globally.

Panxora_COO

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 05:26:20 PM

#29

I agree with itsallpc but would add that you see the wealthy in China looking for a back door to get out of the Yuan against government wishes. You also see many countries in Latin America where the government policies are so repressive and corrupt that money is moving to bitcoins as it is starting to be seen as a bit more stable and a LOT more flexible.
For years governments have been putting off an eventual credit crisis and there are only 5 countries in the world that carry no debt. Most carry way more than their GDP.
You can put these problems off but you cannot get rid of them. Eventually our culture's reliance on debt is going to have a BIG price to pay.

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SamMurphy

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 12, 2017, 06:12:21 PM

#30

I think yes, if there is a case to save your money you will invest them on bitcoin or gold/silver. For me gold/silver and bitcoin for now it's the same. But still I wouldn't move all my money on bitcoin because if I wanted to cash them out their value wouldn't be the same. Some of them in bitcoin, some of them in gold/silver and some of them in cash. Also this shouldn't happen only in those cases, you have to be sure that at least half of your money are safe in any case.

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 15, 2017, 12:37:23 PM

#31

Quote from: Amph on June 12, 2017, 05:11:54 AM

Yes it is not a matter for the people to take it serious anymore. Actually such rumours comes in a time when the government or the people seeking threat from something which could go against the interest of them. So, the easy way is to create such rumours and propagate them so that the people stay away in getting involved in the respective activity.

It is very hard for me to realize that there are people who think that the Bitcoin will affect the fiat, I cant do anything for them except feeling petty for them as they are too innocent to use their brain.

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SvenBomvolen

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 15, 2017, 12:50:01 PM

#32

I think people will chose gold for the case of economy crash rather bitcoin. First of all not so many people know and use bitcoin yet, and gold had shown itself as the most safe way for capital safety.

Kevin77

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 15, 2017, 04:06:16 PM

#33

Quote from: hajimasan on June 12, 2017, 01:51:09 PM

Quote from: virtualdn on June 12, 2017, 04:14:27 AM

Found this.. is it all fud? "Legendary investor Jim Rogers predicts a market crash in the next few years, one that he says will rival anything he has seen in his lifetime."

http://www.businessinsider.com/jim-rogers-worst-crash-lifetime-coming-2017-6

there's many people who thinks themself as great and releases hypothetical theory and predictions so we people have our 6th sense and we should not care about their word we are human and are intelligence enough and we can justify whether the saying if any third person is try our not. Blindly believing on them might not work all the time we have to check oneself whether the saying is true of hypothetical. He told that there will be financial crash edition few years but how he know that. How pore can predict future of market. It's all about people who have full control over market and it's elements which are either directly or indirectly linked to market stabilization. And it's not easy that their will be financial crash and how can he say that I don't agree with statement. And yes it's good idea to save money in bitcoin because as the price will touch high and we will have actually more valued money when we will sell it so it's a plus point for us.

Well this is funny man if you going to work upon your sixth sense, then sorry to say but it dont really seems sensible to me.

I guess your knowledge is something that should be used in making a certain decision otherwise if the investing would have done by the guessing stuff then it would not be termed as investment but it would be called gambling. As we have seen that all the successful investors works on the calculations and makes decisions based on these calculations. So, it is better increase your knowledge and skills and decide to what to do on the basis of your research.

richmcrich

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 16, 2017, 01:03:03 PM

#34

Quote from: uneng on June 12, 2017, 04:22:24 AM

I don't believe on it. Since much time ago experts say things about market crashes, that world economy will colapse... But the true is there is always solution and ways to avoid big crashes, that is why there are economists in the governments.
But no doubt bitcoin is a good investment to put savings, I just don't think to put all the money you have in bitcoins is a good idea.

There is ups and down in everything whenever people start doing something he/she must be ready for its advantages and disadvantages both and I guess small financial crashes are not so much harmful in Bitcoin, secondly whenever we see some crisis in any part of the world the price of Bitcoin increases, so if people look at its increasing price they will prefer to move their savings to Bitcoin to avoid max cash in any businesses.

streazight

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 16, 2017, 03:44:48 PM

#35

Quote from: iluvpie60 on June 12, 2017, 01:27:03 PM

Quote from: virtualdn on June 12, 2017, 04:14:27 AM

It would be a smart investment I believe for many people to have their future outlays of money be put into BTC.

Sure it makes sense when the price is going up an up and away! But is the price of BTC going to continue to go up this year?it is possible that it will stay flat for awhile. You do not want to risk putting your savings into something that can flatline or drop to zero. Savings are usually something that has a lower amount of return but is considered very safe.

All we need is another MTGOX and there go a bunch of peoples value on BTC unfortunately...

Yes, looking at the progress and the potential of the Bitcoin it is a very much good investment for the future. I guess the Bitcoin is helping many people to survive and have made many people fit to the machinery, before the Bitcoin there were the people hopeless and unhappy but the Bitcoin have sparked in their lives as a hope and no doubt the bitcoin is sprinkling happiness all over. So how could some still doubt that the bitcoin is not a good investment for the future?

raven7886

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 18, 2017, 11:24:26 AM
Last edit: June 18, 2017, 11:47:01 AM by raven7886

#36

Quote from: uneng on June 12, 2017, 04:22:24 AM

Yes, the financial crises can be handled with the change in the financial strategies to resist a crash to the economy and it has been witnessed many of the time that the services of the economists works very well to handle such a situation. According to an analysis only 3% of the world population is involved in the business of investment while the rest are working for these investors, so the bitcoin is in my opinion a best platform to balance this ratio and bring more financial stability to world.

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 19, 2017, 05:38:33 AM

#37

I had heard so many time of market crash but the impact of the last time market crash is not too big, and it is not a really good idea to move your saving into bitcoin because bitcoin itself is not too stable, for your long time saving I suggest gold, bitcoin is very profitable but we still don't know what will happened with bitcoin in the future

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 19, 2017, 10:06:47 AM

#38

The answer for that is definitely yes because most of the people already heard about bitcoin and it will be easy for them to store their money and take care of its real value if they will put it on bitcoin because bitcoin is one of the best way to store our money and grow it because bitcoin is also an investment or asset because of the price movements that are mostly going up.

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 19, 2017, 10:40:39 AM

#39

So many predictions about market crashes that never came to fruition. It is like a prophecy about the end of the world. But if anything comes close to a massive crash, I am not sure people would really flock in droves to bitcoin. There are still safer havens out there and in times of crisis, the tendency is to be more conservative because capital preservation is the primary goal of individuals.

aoluain

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Re: Will people start moving their savings to Bitcoin in case of a financial crash?

June 19, 2017, 10:52:49 AM

#40

Quote from: xuan87 on June 19, 2017, 05:38:33 AM

I had heard so many time of market crash but the impact of the last time market crash is not too big, and it is not a really good idea to move your saving into bitcoin because bitcoin itself is not too stable, for your long time saving I suggest gold, bitcoin is very profitable but we still don't know what will happened with bitcoin in the future

The impact of the last big crash 2007/2008 is still being felt
in many countries in Europe, Greece, Spain, Italy and Ireland.

Here in Ireland after the last crash we as a nation had to
bail out the banking system and pay off their debts to the tune of 26billion

Back in 2015 Greece put a hold on funds as there was a run on their banking
system. It got to the stage where customers could not withdraw their own funds.

These are just snapshots to show that there was big implications for everyday
average people after the last crash.

have people learned from that ?
Hopefully

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WITHDRAWALS

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