RE: RE: Could cryptocurrencies be considered a safe haven for wealth? [ITA/ENG]
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RE: Could cryptocurrencies be considered a safe haven for wealth? [ITA/ENG]

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Great questions miti@miti.

It is smart to question the banks, especially in the EU. The European banking system was on unstable footing before this crisis. Now, the situation is only getting that much worse.

The freedoms of people are being eradicated all over the world. Some areas are worse than others but make no mistake, this is a massive power grab.

As your core question, yes it can be a safe haven as we are facing a confidence crisis. The world was thrown into a deflationary spiral, the likes we have never seen. This will cause major impacts on our economy (and society) going forward.

A situation like this should have caused a doubling or tripling of gold. Yet that sold off also. It turns out the safe haven for investors was the USD.

Cryptocurrency is external to governments and operates without a physical backing. This makes it hard to get a hold of unlike gold or other precious metals.

Either way, if some countries start to confiscate gold, which I expect, it will only make cryptocurrency the safe haven for the masses. This is why it is so important to have an alternate system.


Posted via Steemleo

@taskmaster4450le: Great questions | Ecency