Quote from: ChiBitCTy on July 05, 2021, 04:02:00 PM

Quote from: Kprawn on March 28, 2020, 10:32:28 AM

Just think about it a little. Roll Eyes

You know that whatever happens with your government controlled investment, you will have a safety net from that government. History has shown us how governments have bailed out Banks and/or injected millions or even Billions of tax payers money into economies to protect it.

They are printing Trillions of Dollars to reduce the impact of this Covid-19 virus on their local economy and they are doing this with money that was supposed to go to critical needs. (Public Health care / Social grants for unemployed people etc.)

Did Bitcoin get any support from governments when Stock markets plummeted lately? No, because Bitcoin is seen as the enemy. Angry

We relish in the fact that Bitcoin is not supported by the injection of slow poison from these governments, because this cannot be sustained indefinitely. At some stage we will see that taxes would not be enough to save Banks and/or local economies. Companies and individuals can only pay so much taxes, until they go bankrupt.

It is only smoke & mirrors to postpone the inevitable collapse of the global economy. Will Bitcoin then be seen as a real safe haven or will it be too late?

I can't fully get on board with what you are stating here. First off they are always using tax payers money to help bail out banks/companies etc. When they print money, they are simply make new money, not necessarily using tax payers money. I suppose it feels like that due to inflation occurring due to the printing of money. Here in the United States if a bank goes under there is something called FDIC insurance. It's not from tax payers money. However it really is smoke and mirrors as if all the big banks actually did go under, this "insurance" would never actually pay out. Also, if the world economy really did collapse, then bitcoin is not likely to be worth very much.

Good point because as we have seen at the start of Coronavirus Bitcoin wasn't performing very well. The problem with crises and Bitcoin price is that nobody has money to invest into Bitcoin. Rather, Bitcoin holders need to liquidate their positions in order to be able to pay their bills, mortgages and for everyday needs. That's a common misconception so far I believe. A lot of people think that during a really bad crisis Bitcoin goes up. That could be the case if you were able to look at a currency crisis in an isolated way. The issue with this point of view though is that a currency crisis isn't an isolated event. It comes with all the surrounding that ultimately force people to liquidate whatever assets they have. The only guys who'd benefit from a currency crisis are the rich. They have the money to gobble up cheaply liquidated Bitcoin and they have the time to endure the crisis until everything goes up again until it is time to sell into the Bitcoin buying masses at higher prices than they bought for.