[pashamur]

I think that's the appeal of Bitcoin and/or Gold: it's both cash in that it might act as a safe haven in the case of an asset crash and would retain it's value during hyperinflation (since you can't print more of it).

Though bitcoin has really been untested as a safe asset and currently behaves more like a speculative one.

[panarky]

I think Bitcoin has huge potential right now, even after its recent run up. It could easily 4x to 6x from here, before the next halving. It could also drop by half, but at least the rewards are asymmetric with the risks.

But even though I'm optimistic about Bitcoin, I don't see it as crash-proof except in one crash scenario. It's mostly a speculative risk-on asset that loses value in crisis scenarios. We saw that in the covid crash in March last year as Bitcoin prices tumbled along with other markets.

The one crash scenario where Bitcoin doesn't crash is if Bitcoin is the thing that triggers a crisis of confidence in fiat assets. That's the hyperbitcoinization scenario that still looks improbable, but easier to imagine now than it was a couple years ago.

[cft]

Gold has been confiscated by FDR. Bitcoin clamp down is coming: we have recently learned from Yellen that it's primarily a terrorist tool, and that it also causes global warming.

[cbm-vic-20]

"it also causes global warming."

It would be interesting to see how much the gold mining industry contributes to global warming (including not just extraction, but processing and shipping). Trading, too, but I suppose that's done mostly by contract, and not shipping gold bars around...