What are the potential for the global economy after the outbreak of the crisis. The risk of uncontrolled printing of money and the difficult choices that investors have to protect their property.
Big changes happen unprovoked. When a natural disaster occurs, our first concern is to stay alive and safe. No one knows whether developments in the coming days allow for greater optimism, but for the time being there is a strong shade of dark. If the nightmare hastry scenarios prevail, who can rule them out, let's explain how bitcoin ownership can help.
Scenario A
The first bad scenario is to have a banking panic. We in Greece have experienced it recently, we have a picture. How hard is it to happen in another country? Let's get the rumor that a bank in Italy or another country is in trouble and they should all run up their savings. Trust can be eroded very quickly, even by a simple rumor. Mass withdrawals are never made in conditions of euphoria. But they can be done the next one. It's only a matter of hours. A bank is enough to be the first girl to drop the rest.
It's amazing, isn't Didn't we see them running around panicking, emptying the supermarkets, picking up the health papers and spaghetti, like the apocalypse is about to come?
With bitcoin we don't have a problem accessing our money. No one can confiscate them, force us to receive €60 or any other amount a day or ban us from sending them abroad
Scenario B
The second scenario concerns the risk of the so-called 'printing' being regressed by the Central Banks and creating intense inflationary pressures. This is not the first time in history that we have encountered uncontrolled liquidity provision to the economy. Voltaire had realized it centuries ago: "A bill, based solely on the trust of the government that prints it, always ends up returning to its intrinsic value, that is, zero." Today we know that this is not an arbitrary case, but it is based on historical data.
National currencies are only a matter of time before they roll into hyperinflation and devaluation. They are barely measured in the fingers of as many coins as they have endured for more than a few decades, without facing such phenomena. According to a study of 775 coins from the DollarDaze.org, the average life expectancy of a currency is 27 years. The most common causes of their disappearance are hyperinflation, monetary reform and war.
The world record in inflation is held by Hungary in 1945. Every 15 hours the prices doubled! In second place is Zimbabwe, which was eventually forced to suspend the circulation of its currency. Too many countries are on the list, some even for more than once.
Greece during The Second World War is in 6th place. Even the "disciplined" Germans have not avoided the trap of hyperinflation. They are in 5th place during the interwar period, where every 3.7 days the prices doubled. Real examples of what has happened in the world over the last 100 years, we can see in the Hanke Krus Hyperinflation Table.
Bitcoin is not likely to be inflationable. There are no surprises, as is the case with gold. It is by nature finite and rare. Monetary policy has been predetermined precisely and over many decades. It's about the new, sophisticated gold. For example, we know that by 2036 99% of the coins that will ever exist will be created.
Scenario C
How unlikely is the global epidemic to take unchecked proportions and suffer a major blow to some of the weakest economies? Well, not so much. What impact will it have? Lead to a new wave of immigration? If you're wealthy, for example Indian or Turkish, and you want to leave your country, let's say you manage to sell the properties you own. What are you going to do with the bills you're going to collect? You're going to put them in two suitcases and leave? Who's going to take it to the new country you're in? In the best-case scenario, you manage to make it gold in time. Then what? You're going to put a gold bar in your pocket and leave? Theoretically strong, but practically impossible.
The gold scenario is unrealistic for another reason. If you want to get gold pounds from a Central Bank, you'll buy them overpriced. See what happens at the Bank of Greece. If you try to get them from other sources, you're in danger of being the victim of fraud. (Here we have some instructions to guard against the skilful or the irrelevant). If you want gold bars, it's unlikely you'll find one. Even on the calm days in Switzerland, they were giving you gold certificates. You'd give your nice money and you didn't get gold, you'd get papers!
With bitcoin, possession, trafficking, security, privacy, is purely your business. They can't stop you at the border, you have no problem transporting them without anyone knowing. Real bitcoin. Intangible, digital but authentic.
Conclusion
Like we're going to get to such extreme scenarios, you're going to say. Indeed, it seems unlikely. However remember where we were only 1-2 months ago. Look around you now. The EU is going through its biggest test since the arms were silenced in 1945. How likely did that image you see today seem to you then?
Maybe from tomorrow, everything will return to normal. Find the medicine, get everyone back to work, keep traveling and meetings done without fear. But they could take a bad turn. If there's anything you can do to protect yourself, why not? Even if you turn out to be exaggerated after all.
Bitcoin isn't just about getting rich fast. It's more than something more valuable. It's about our freedom. Our defense against the arbitrariness of power, corruption, robbers. I suggest you start accumulating some bitcoin yourself.
The easier way to start is with bitcoin faucets. SatoshisBrain.com compiled a list with over 50 working bitcoin faucets. Start accumulating Bitcoin now, before it's too late.