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Say the Financial World will crash, where to put your assets?

Are you preparing your assets for the future and a near standing collaps?

  • I don't believe there will be a "financial crash", I don't care!

    Votes: 5 15.2%
  • I already prepared my self and assets by investing in Gold, Diamonds ans similar assets!

    Votes: 19 57.6%
  • Until now I didn't know this was a possible threat!

    Votes: 3 9.1%
  • I don't know??

    Votes: 6 18.2%

  • Total voters
    33
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KJK

Entrepreneur
I'm a fan of Monero but I also realized something - government actions as well as altcoin features may actually make Bitcoin stronger, not weaker.
Maybe N.N. Taleb would call this antifragility or Lindy effect - or you may just call it common sense.

Let's go back to late 2017 - the BTC network is clogged with transactions and fees are insane. Litecoin (LTC) seems like a good alternative because block times are 4 times faster, there are fewer transactions and LTC transaction fees are acceptable. There are speculations that Litecoin will become something like silver to Bitcoin's gold (gold-silver as an analogy of BTC-LTC relation) and some traders even speculate that price of Litecoin should converge to 25 % of that of Bitcoin because there is 4 times more LTCs and because of atomic swaps.

Well some time had passed and Litecoin didn't realize these dreams and visions, actually most of development on the code ended and even the founder semi-abandoned the project. In the meanwhile, Bitcoin developers worked and improvements were made - lightning network introduced and adopted, transaction size was optimized, wallets got better with fee estimation, exchanges learned how to better send transactions.

Now we have 2020 and people realize that Bitcoin is not anonymous but pseudonymous at the very best. Again there are some alternatives that seem pretty good - Monero, Zcash; XMR seems like a good alternative because of enforced privacy and ring signatures. Some people speculate that Monero will appreciate just because of this technical feature. I really like Monero and fluffy pony etc. but again it may not happen. Instead Bitcoin developers may again work and come up with improvements - just look at stuff like coinjoin directly implemented into wallets like Wasabi. And that is just one single example that chain analysis companies will have problems with.

All these companies you posted, such as Chainalysis or Ciphertrace, these guys are snake oil salesmen who hope they sell their solution to traditional bankers getting into crypto and to government agencies. While at the same time they know they can't do shit about Monero and soon they won't be able to do shit even with Bitcoin.

Monero is not important in the big scale of things. I think what is more important are the fiat on-ramps and off-ramps. I.e. do you buy and sell crypto on a fully regulated EU/ CRS/FATCA/GATCA exchange that knows your name, details, address, income, source of funds and your mother-in-law's bra size?

Or do you buy and sell crypto on a P2P basis, maybe from some guy in cash, or getting paid in crypto? That way you keep your privacy and you are using Bitcoin as it was intended to be used and as it was described in the Nakamoto's whitepaper.
 

nomad999

Entrepreneur
Monero! It's all of the above + privacy
Monero is good but not as popular as bitcoin and the tech is not proven like bitcoin, and most people just don't care about privacy unfortunately. In this case the price of Monero would plumet the same way but without as much incentives for the price to go back up afterward like Bitcoin.
Bitcoin has been running non stop for 10 years without any hack and with literally billions begging to be stolen, the incentive for hackers is crazy high, I don't think people appreciate this fact enough.
 

Admin

Forum Moderator
Staff member
There are already companies which are tracing back transactions and exploiting Bitcoin's public ledger. See for yourself: The Blockchain Analysis Company - Chainalysis

BTC is simply inferior to Monero.
You pull the conversation into a crypto discussion and don't stick to the topic. There was no discussion about why Monero is better compared to Bitcoin in regards to privacy.

Please get back to topic or I will have to move the last 3 posts into a new thread or simply delete them.
 

LiberJoseph

New member
The same for me, in that insane and crazy monetary system the only choice unfortunately is to seek shelter in haven assets!
 

TRX

Corporate Services
Mentor Group Gold
Elite Member
Crypto and Gold has so far proven to be one of the better investments for my person at least :)
I took advantage of this and stored parts of my fortune in the same.
 

4br

New member
The point at which the system will start to consider correcting is the point where propping it up is more painful than starting again. I think Japan will hit that point by 2030. 50% of their government budget will be debt payments at that point. But don't get your hopes up, the globalists are ready and have a slew of packages which they will wheel out, acting as saviour. From what I've read they are looking at a new global harmonised system where small companies will largely be scrubbed in favour of huge corporations. For this privilege huge corporations will pay more taxes for "social justice" and UBI. You will also see wealth taxes.

I have no idea how best to escape what they are up to, but crypto is currently my favourite. They will however have the ability to strangle this.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
But don't get your hopes up, the globalists are ready and have a slew of packages which they will wheel out, acting as saviour.

Yes they do. A mistake people will make is thinking financial engineering has limits in terms of the instruments it can create to overcome these financial challenges. The entire current financial system is founded on an intangible asset called digital money. Hence there are no limits unless a systemic problem occurs.

I have no idea how best to escape what they are up to, but crypto is currently my favourite. They will however have the ability to strangle this.

I can't see one digital asset like crypto helping you escape another digital asset like fiat just because it can be digitally capped and is based on distributed ledger technology.
 
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