It is clear and People need to know this, bitcoin is simply just like other asset although decentralized and not central government can sit on its authority but the price of it is still dependent on the demand and supply chain just like every other assets, if there is an economic down turn people look towards there savings for emergencies and bitcoin isn’t saved from that, in fact it is the most common asset that people will first go to liquidate when they hear of economic crises because of its volatility, only people who invested what they don’t need or people who can hodl for a very long term will be able to hold.


That’s why we keep saying bitcoin wasn’t designed to be anonymous but rather pseudonymous because you can choose how you wish to treat, even though they are people who provide KYC today there are still people who go total anonymous with bitcoin, the only trace is the transaction from their addresses on the blockchain.

I also remember very well why bitcoin was created. I remember the 2008 crisis and the consequences that bitcoin was created to overcome. I remember how bitcoin was characterized in  white paper (electronic digital money). But I also know how bitcoin is used (a speculative instrument, not a means for p2p payments). Therefore, I assume that bitcoin is unlikely to be used as an alternative to the traditional financial system in the event of a global economic downturn. And I believe that this is due to the fact that the traditional financial system has already penetrated the BTC-system in the following way. Large amounts of money have already been invested by institutional investors in bitcoin, which means that the consequences of the global financial crisis will affect bitcoin. Under such circumstances, investors will be forced to withdraw money from investments in bitcoin, which will directly affect the bitcoin rate. Or, simply put, the price will fall and the asset will become less valuable, meaning it will not be suitable for the role of a safe haven.

I agree with you in saying that we need to wait for bitcoin to go through a few more economic cycles to make an accurate assessment of it. And if we evaluate it fairly, it is clear that bitcoin still cannot compare to gold in terms of inflation hedge or safe haven. But is it fair to look at its growth over the last 15 years and what it has done during the Covid pandemic and say that it is not a hedge against inflation? 15 years is not too long for the world economy, but in the past 15 years, has any asset had such incredible growth as bitcoin?

It's not as good as gold but at least it deserves to be considered another option besides gold.

Absolutely right. Bitcoin cannot save our financial issues if we focus on it solely, but having a stable job and a reliable and profitable investment like bitcoin, in less time we will achieve financial security and stability. However, of course, everything comes with proper financial management so that everything you earned will not go being wasted.

I can tell you that Bitcoin was never designed to be an asset of huge value or even hedge against economic shocks and turmoil. It was a platform that self-developed into such a platform, and its main calling in life is that being a digital finance platform to facilitate unmediated transactions. If I remember correctly, it was initially created as a peer-to-peer electronic money system, it should have been able to provide a decentralized alternative to traditional financial institutions, helping people deal directly without intermediaries. That is, with the maturity of bitcoin, increasingly designed as "digital gold," rather than just being used as a shortcut to exchange. It should have been due to the fact that, as I said, during the period of economic uncertainty, bitcoin was a particularly well-suited store of value due to its low trading volume and freedom. It is probably a focus on making bitcoin a store of value if the fact that the marketing machine of a digital gold legend was distracting people from the original business objectives bodes.

Bitcoin can save you if you're rich, but if you're not rich then it's money that can save you.

Why I say "money"? because most companies pay their workers in fiat instead of Bitcoin, so you need to collect fiat as much as you can and then convert it to Bitcoin to protect your wealth.

Bitcoin isn't a magic money that can give anyone for free.

I have been hearing economic downtrend for the last four years. Accepted its going down but we are also collecting bitcoin and hoping that its price eventually goes up, did it go up? It did but neither did the economy completely collapse. Either of these events are not mutually exclusive.

We should target to accumulate bitcoin and continue to run this fiat economy as long as we live, because I am sure considering the average age of the members of this forum, none of us will survive to see that day when bitcoin is the basis of the economy, it can only work hand in hand with fiat.

However if your monthly income in fiat is already low, you are not going to be able to accumulate much bitcoin in the first place.

We can't know that but it is better to own some crypto to be sure. If you own 5% bitcoin in your total assets then you are already in a better position than many people who don't own any  bitcoins. You don't have to go "all-in", just own some and you will be good imo. The percentage varies for every person but I think 5 to 10% is pretty ideal for a lot of people. That 5% will not make you rich probably but it might save your life in an emergency situation which is way more important than getting rich.

The reality is that we know fiat gets lower and lower in value and it is not a secret so it won't be really that troublesome if that ends up being true, because we know that's the case and we will be able to actually do something about that. Whereas, we know that bitcoin will get higher in value, that's how it works and we are going to see that move better, there is no denying that neither, we should be considering how to get better with time and get more bitcoin.

Accumulating bitcoin isn't easy, we are not all getting paid in thousands and thousands, we barely live, we just survive, so it is not really fair to us that we are expected to accumulate a lot, but everyone has their own level, if you can only afford to get 50$ then do that.