I got into bitcoin because I believe that the monetary system is guaranteed to end in hyperinflation.
Inflation is a constant companion of the modern monetary and financial system, built into the
program from the very beginning. Consider it a built-in side effect.
Bitcoin is honest money, if governments allow it to be that. It is not a hedge against hyperinflation, but it is a more honest substitute for the current monetary system.
Money is a means of exchanging goods and services. Evaluating from this position, bitcoin can't be called
money, because for the most part it is used for investment purposes, and not for paying for goods and services. If money doesn't fulfill its function (a means of payment), then how can it be called
money?
What is the
honesty of bitcoin? What do you understand by this term?
While bitcoin is not a hedge against inflation, gold is. The goldprice has a long history of soaring when the monetary system fails.
I have never seen the goldprice crash in times of war, but correct me if I am wrong. During WWII, the gold price doubled.
But what if we look at it from a different angle? Maybe it was just money that depreciated by 2 times during that period, and not gold that doubled in price?
If the scenario for the coming months and years is that we are heading into WWIII, and I truly believe that we will, what is your investment strategy for crypto? In times of heavy monetary inflation/ war threats I expected the BTC price to soar, just like gold soars. In reality what we have seen is that BTC crashes hard and precious metals soar.
Anyone here knows that there can only be one investment strategy in bitcoin -
just hodl.
I think I should sell my assets prior to a major war, and buy in after the crash
What if everything develops according to a different scenario and after the war the price goes up? Then you will be in the red.
It is more prudent to sell only half now and if the price of crypto goes up, sell the second half of your savings, if not, then buy more with the proceeds from the sale now.