Rank: Member Joined: 12/30/2012 Posts: 545 Location: NBI
|
Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.
this is a prescient point. Because we are in such high stakes uncharted economic territory, having a stake in bitcoin (say 1-5% of net worth) is a good idea. Global extended QE, ZIRP, NIRP and currency wars mean the risk of a SHTF moment have increased. If that moment is a sovereign default, a large de-pegging, increasing deflation or capital controls, the consequences will be wide ranging. And thats the thing with many of these events; they happen very quickly. Take the Swiss de-pegging a few weeks back knocking out large trading firms. All of a sudden, and in stark oppostion to the statements from the SCB a few days earlier, shit changed instantly.
No one knows what effect a SHTF moment will have on safe havens like gold or USD or on speculations like bitcoin, but the upside if it reflects positively is enormous.BITCOIN TRADERS KENYA Whatsapp group +254 705 299 429
|