Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin truly a safe-haven asset?
by
zenthereum
on 02/07/2020, 11:30:53 UTC
...while extreme fanatics believe that Bitcoin is far better than gold. Bitcoin was born in the wake of the 2008 financial crash as a libertarian currency and as an instrument that could help cushion the event of a future financial crisis.

Why is gold a safe-haven to begin with? What makes gold have a price? The mining cost is irrelevant to the extreme valuation of this asset.

Gold has no intrinsic value. The price is what people believe it should have. I remember a no-coiner proclaiming a few months ago that Bitcoin has no intrinsic value.
This statement is not true as it does have a huge production cost which in turn supports the security of the network. In my opinion it is gold that is not a store of value anymore.

Buy Bitcoin BTC just in case you were wrong. The world in general is more volatile than Bitcoin. You make plans, spend years to learn skills, get a degree, get a second degree, find a job and one day you wake up and learn from the news that your economy just collapsed. Your stonks went to zero, your bank blocks your withdrawls, capital controls take place, the value of your home drops by 50%, the company you work for went bankrupt, etc.
It is important to have a plan and even if you are a gold bug, consider that you might be wrong about gold being a safe asset. Since you have an interest in Bitcoin you will eventually figure out that it has all the required properties of being a safe-harbor and a store of value.