Quote from: maku on July 16, 2016, 01:55:44 AM

Quote from: The Pharmacist on July 15, 2016, 11:45:20 PM

Quote from: quake313 on July 15, 2016, 09:36:14 PM

Bitcoin don't seem to care about the coup attempt in Turkey either...

Why would it care? Why would any world news affect the price of bitcoin? Bitcoin isn't a safe-haven asset. Look at the price today compared to two months ago--we went from 420 to over 700 very quickly, and that isn't safe. It could easily have gone the other way. Besides, everyone knows what gold is and have a good idea that it's a place to park money in turbulent times. Not a hell of a lot of people know or care about bitcoin. And most of the ones who do are smoking cigarettes in the dark.

While bitcoin is is not safe completely asset in times of crisis it is far more reliable that any national currency. There are problems with reaching for money in Turkey right now.
ATM are being beset by masses of people who want to withdraw everything. If these people would own bitcoin instead of cash they wouldn't have to worry about their money at all.

Yes, but historically (I think) people have turned to other stable currencies. Bitcoin is not a stable currency. If the Argentinian currency crashes, you'll see tons of US dollar coins being used to buy goods and services. Nobody except computer nerds and doomsday preppers is going to be running to bitcoin when the US dollar crashes. Gold & silver will be excellent things to own, but most people wouldn't even think of bitcoin, and if they knew how consistently volatile it is, they'd laugh if you suggested it.