Post
Topic
Board Economics
Re: Global financial crisis
by
1Referee
on 07/08/2018, 18:29:56 UTC
What makes you think that gold and cryptos will be a safe heaven?
What if all financial assets (digital and non-digital) are hit by the crysis and their prices crash?
If all fiat currencies start imploding, people will seek to dump money in that what they can use as a medium of exchange. Considering that Bitcoin is a far better medium of exchange than Gold, especially with smaller amounts, it's pretty easy to know where money will flow into.

During the great depression there wasn't any safe heaven asset that will maintain a stable price.
It's not about stable prices. It's about dumping your wealth into an asset that doesn't lose the majority of its value, and Bitcoin won't lose its value. If even 1% of the total world money supply ends up in Bitcoin, we'll see prices you can't even dream of right now.

In Iran there is currenty a crisis going on where the Rial has lost around 75% of its value in a short period of time. It's time for people to start hedging their fiat currencies by converting a certain part of their wealth to Bitcoin. Better safe than sorry.