Why is Bitcoin not behaving like a safe haven during economic crisis like it's intended to be?

because it has turned from a libertarian dream to just an other speculative asset
then it was pumped to stupidly high value and dumped by the very peoples it was design to fight

How long for the dollar to go 10000x?

>Muh store of value
$1000 eow

This

waiting for 3k to load up

cuck shakeout

crypto has been slowly infiltrated by cucks who always cuck and sell minor gains which kills upward momentum. This is the great cuck shakeout which will price them out forever. BTC will hit 200k by eoy with no cucks aboard

look at gold, people want their liquid

> a cuck free voyage to the citadel
I can hardly wait.

it is, you're just too fucking thick to notice:

>did bitcoin devs change the inflation rate to combat the crisis?
>did bitcoin devs postpone the halving?
>did bitcoin devs try to interfere with max supply?

the answer is categorically NO
thus, it confirms itself as a safe haven
the percentage of the coins related to the maximum supply that you have WILL NEVER CHANGE

that's the fucking point

who fucking cares that some gamblers lost their long positions because of manipulation?

Liquidity crisis.
People selling BTC to cover their other bets. Its the most liquid asset you can own other than cash.

When you lose your job & have bills to pay & food to eat, you dont want shiny rocks, or imaginary internet coins, or shares of a corporation... you want cash

except there is no inherent value to bitcoin, fiat currency has a entire country behind it even if it devalues said currency any government even a badly functioning one has the power of taxation, fiat currency has an actual backing based on that alone. cryptocurrencies have nothing.

Why kind of drugs someone has to do to come up with all these reddit ancap fantasies?

analyticsindiamag.com/why-is-bitcoin-and-the-stock-market-correlated-at-this-moment/

>For the dollar to lose 50% of its value it would take 30 years
This will happen by 2021, mark my words

Imagine selling before literally and unironically the most epic bullrun on any asset in human history. You couldn’t be more cucked if someone nutted in your gf.

Btc is a safe haven for the UsD crashing not the stock market.

yeah that's what i'm thinking. we could easily see $3500

pro tip. short sell on margin and buy the perpetual swap or march futures at deribit now for an easy cash and carry till the end of the month

Same

It's just a commodity, and even gold dropped

it will not happen it is just fantasy of people who wants some happening

> like it's intended to be?
In ur head lol

Its only value/use is that you buy it in the hope you can sell it to some other idiot for a higher price

i still remember how every delusional fuck told me how bitcoin will be THE currency in a crisis.

fuck you and ur shitty meme money. because in a crisis this shit goes straight to its real value.. WHICH IS ZERO

Explain please

It's alternative to centrally controlled fiat currency. Has nothing to do with some random stock going down in the US. I can't believe I even have to explain this.

Part of the announcement yesterday is that banks will require 0% reserves.... You can't even run the bank... Shit WILL get real. Holding money in a bank will prove to be the riskiest position of all.

It is, people are just stupid.

It was a worthy attempt, it really was. But in the end, you can't beat a rigged game by trying to create a fairer system that's still able to be beaten by the people doing the rigging. First guillotines, then replace the economy.

Wait until wire payments start getting delayed, and credit cards stop being issued due to quarantines. DeFi

It’s being manipulated by bankers

Checked. Because it's a useless piece of shit with no value and no need. Current value is only about $5,000 too much.

because weak handed institutional investors bought in and subsequently panic sold

deflation currency will never works, because people will hoard them instead of spending them leading to massive bubbles and crashes
btc is fundamentally flawed as a currency that's why it was so easy to turn it into the monster it is today

>like it's intended to be?
it was intended to be a hedge against inflation not deflation you tard.

does anyone actually have a good idea of what BTC is gonna do? this feels like uncharted territory.

where did you read "safe have asset" in the white paper you fucking idiot

Crypto marketcap is >140, more than 5000 altcoins that do nothing, 200 MA meme line DESTROYED. etc. Draw your own conclusions

Read this on twitter earlier

"At a current $BTC price of $4,958.61, 70 percent of all bitcoin addresses are holding coin at a net profit loss. Up until last Wednesday, the majority of these addresses were holding bitcoin at a net profit gain. Data from @intotheblock"

my conclusion is we go sideways for 6 months

> Massive bubbles and crashes
Like right now with an inflationary currency?

not really possible because miner reward halves in a few months. which means either price doubles or goes to triple digit or lower.

>bitcoin

>safe

fiat isn't crashing

it actually is, since the dump on thursday it has remained in the high 4,000 almost to 6,000 dollar range. I'd say it is storing value quite well

because is not zano

Who is Zano and why are they hellbent on fucking half the universe?

BECAUSE ITS NOT REAL. ITS FAKE PRETEND MONEY. YOU ARE LITERALLY SPENDING REAL MONEY ON PRETEND MONOPOLY MONEY THAT DOESN'T EXIST.

You can't buy toilet paper or food with bitcoin.

Everyone is losing their ass in the stock market so they have to liquidate some bitcoin so the price drops and causes a feedback loop. I don't why you would expect anything different to happen when the stop market takes a massive dump like this.

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>miner reward halves in a few months. which means either price doubles or goes to triple digit or lower.
What determines which of two options it takes?

>It’s being manipulated by bankers

(((JEWISH))) BANKERS

If the miners can afford to keep up the blockchain and if BTC goes up in value.

>today
>48 hours
big brain over here

What quality of bitcoin makes it a 'safe haven'?

Its entirely supply/demand driven, with zero value. The net value of every single bitcoin = 0. Literally.

when your USD is worth half what it was and all the people with btc are swapping that instead of USD you'll get it.

gamble wildly

> Can't buy TP with BTC
While this is unfortunately the truth I think the greater unfortunate truth is that BTC was intentionally meant to be independent of the system and thus the system never integrated it. It would take a company like Amazon accepting Bitcoin to get people to save their money in it (BTC should be for saving, not investing or speculating) and spend it as a currency.

>Holding money in a bank will prove to be the riskiest position of all.
especially when they decide to roll out the new central digital currency and convert your money to it.

more like a week and a half. expect a climb through july, then crabbing til the end of the year, followed by steady growth throughout 2021

>fiat isn't crashing
oh you sweet summer child.

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DXY 98
Not yet.
Soon.

kek..go into your local grocery store and try and buy food for your baby with BTC and see what they tell you

I'll sell you TP and food for bitcoin right now.

What do you want to buy? All you do is send money to my address and i mail you the shit, no intermediaries required. We can do it via an online market if you prefer.

>What determines which of two options it takes?
The number of people and volume. As long as we are buying btc and using it, it is viable. There is no other determinant.

because you can't buy toilet paper or masks with this shitcoin.

>waiting for it to be obvious to everyone
either Europe and USA enter a 1929 depression or they inflate the currencies through the roof. No other option.

it doesn't take a wiz but this user gets it. money needs rules. fiat has no rules. sheep like will only trust the man in the sky to brrr away problems for so long

So buy BTC with USD, transfer it to you, wait for you to go and buy food and then send the food

why not just use the fuckin money and go and buy the food in the first place?

No shit dude that's why we are the early adopters. You think you can just invent something and instantly have the entire world using it from day 1? It takes time

I like you, user. Not because I want to be like you or anything, but I like that you exist. As a midwit, you remind me of how much more I understand than almost everyone when it comes to monetary and currency matters.

This is beyond your grasp so either fuck off or listen to people who do understand how money actually works. We're not stupid, or gullible, or even poor. We're educated, well-researched, and have successful careers and bank accounts.

We can also see around the bend. Listen or not, your choice. But never convince yourself you are the greater wise man when your comprehension is so clearly limited.