Quote from: davis196 on Today at 11:47:41 AM

Quote from: Mr forfee on February 08, 2025, 07:32:29 AM

Just like gold, in fact, during a recession and bank failures Bitcoin may just perform very well, because it has limited quantity, it is decentralized, and it is relatively decorrelating from traditional financial markets.

Bitcoin is not a "safe heaven" asset like gold. Bitcoin is a volatile and risky asset. The BTC price would most likely collapse just like all stocks prices, if an economic collapse occurs. What economic collapse are you talking about? A collapse caused by a global war or a global natural disaster is different than a recession/depression, which is caused by wrong economic policies. I also believe that it is highly unlikely for a rapid economic collapse to happen nowadays. A slow economic decline, followed by high levels of inflation is more likely to happen in the next few years.
I'm sure that the Bitcoin blockchain is capable of surviving a global economic collapse, even if the Bitcoin price crashes down to levels below 1K USD.

I agree with you, bitcoin is a speculative asset like the stock market, it is not a safe haven or store of value like gold. How can an asset that is highly volatile, pumped and dumped at any time, be a safe haven?

In my opinion, regardless of what caused the economic collapse, if it was just a speculative asset, dumping was inevitable.
People are too quick to forget that during the covid pandemic and the economic crisis of 2022, bitcoin was dumped heavily, bitcoin only really recovered and grew when everything was over. It is clear that bitcoin is not like gold and is not a safe haven.

The bitcoin blockchain is still around but my question is will people still need it when the global economy collapses?