Post
Topic
Board Bitcoin Discussion
Re: We are having the difficult time, are you still a Bitcoin HODL?
by
coolcoinz
on 12/04/2020, 13:41:47 UTC
Just like the title said, we are about to witness the greatest debt expansion in the Global Recession.
How to deal with this problem?  Sad Sad
There's no ideal way because we don't know what will happen. I can already see that due to the restrictions and worldwide panic many companies went bankrupt. In short it looks like this:

Unemployment rieses, people don't have money, so they cannot pay their debts and start selling valuables. They don't buy cars and sell those they don't need, they also sell their investment real eastate that they used to rent. This means the supply of luxury goods, new cars, houses, and so on will increase dramatically and prices will go down.
If you have a lot of money saved up, don't sell anything and try to acquire more. An opportunity like that comes once in a lifetime. This goies for all luxury goods and investments, also stocks, but you have to be careful with those.

Quote
If you are new to blockchain, will you consider buying bitcoin these days?  Huh
If you are an experienced expert, will you keep the bitcoins in your pocket?  Huh

I will keep holding. Why? Because there's nothing more interesting that I'd like to put my money into. I technically could buy another house, but I'm afraid the government will want to fill its pockets by taxing me and other people they consider rich (those who have a lot of land or a few houses that they could do without). They can't take my bitcoins, so that's a pretty safe investment.