Quote from: Fiatless on November 03, 2024, 12:49:25 PM

Quote from: Smack That Ace on November 03, 2024, 01:45:34 AM

Bitcoin is the most profitable investment and no one denies that but with its volatility and instability whenever the economy is in trouble, it cannot be a safe haven.

In a country that experiences high inflation, Bitcoin could be seen as a safe haven. The value of the currency have my country lost close to 70% of its value in four years. If I had converted all my fiat to Bitcoin, it would have been a safe haven for me. My position is that there are so many countries whose currencies are even more volatile than Bitcoin. The government restricted banks from dealing with crypto but the population of Bitcoin users kept increasing because people knew that Bitcoin was the best hedge against inflation.

If your country's currency is losing value uncontrollably and inflation is in double or triple digits, then there is nothing wrong with using and considering bitcoin as a safe haven, I agree with your decision. But given the general situation in the world, it is clear that bitcoin is not yet a safe haven like gold. Because not every country's currency fluctuates or loses 70% of its value in 4 years like your country's currency.

Quote from: N.O on November 03, 2024, 06:04:11 PM

Yes, Bitcoin is the safest currency to invest because mostly banks make fraudy action and they they could be fled and we can lose all money. So most of the people found that Bitcoin is the future and we should on the safe future and billions of people got millions of dollars by Bitcoin investment because when Bitcoin listed ,the price was very low and after that token became famous and millions of people became millionaire by this . Now there are millions of investors which have Bitcoins which they will not sell in any case because they know that it's price will go up , up and up.

I do not deny that there have been bank failures in every country, even in a powerful country like the United States, but I do not know what the situation is like in those countries. But in my country, if the bank goes bankrupt, people's money is still guaranteed by the central bank and the government. More importantly, have you ever deposited money in a bank and had it stolen? Did you experience it yourself or did you just hear about it from others?

From what you say, it seems like you are investing in bitcoin for profit, wanting to get rich. There is nothing wrong with that because that is what we all do, we invest in bitcoin to make a profit, but obviously you choose bitcoin not because you are afraid of banks stealing your money, you choose it for the profit. I have never considered bank deposits as an investment, it is just a place to store savings for emergencies.