Welcome back, CoinMarketCap crew! 👐 Hope you’re all finding ways to stay sane and active amidst this lockdown. Also glad to see you back here again for another week’s edition of “What You Said“! Let’s jump right in and check out some interesting responses we’ve received over the week from our polls! 👀
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What You Said in Last Week’s Polls
Here are some interesting responses from last week’s polls 👀:
How much do you agree with this statement: “Bitcoin (BTC) will perform well relative to traditional stocks in the coming recession”
– CoinMarketCap Daily Newsletter, 4/7/2020
The average response to the above question was 7.5.
5.9% of you voted “1,” and 38.2% of you voted ‘”10.”
Here are some “whys” and “why nots”:
- “I’ll be presumptuous at this point and say to the heavier side of yes, at least with people born within the past 30 years. Folks are getting a little fed-up with tradition at this juncture; not like Warren B. can give advice now either, things ain’t holdin’ up in the ‘old boys club’ no more.”– Equities will recover eventually, I don’t doubt that. I think people are more pissed off with the way the gov’ts are causing more inequality with all that money printing. Read about the “Cantillon Effect.” 🤓
- “Cryptos should be less sensitive to fiduciary money and the later should be devaluated, it is impossible to find that money all gouvernements have promised, hand on heart.” – Yeah ever since it debased itself from gold in the 1970s. Not sure why other countries agreed to it when the US proposed it back then. 🤦
- “Unfortunately, cryptos have not exhibited a ‘safe haven’ pattern lately (high volatility). Will it be the case in the near future? Very doubtful. Anyway, keep on hodling ;)” – Hahaha, we’ll see. It has already recovered from Black Thursday. Have traditional stocks? What about fiat, is that holding its value when the printer goes BRRRR? 😜
- “Traditional stocks will also find their way back, but BTC will do better . They have the famous halving, and the demand is growing . Also the acceptance is growing .” – I think so too. The numbers are showing it. There is greater acceptance of it, and people are looking for alternative ways to store their wealth. 💪
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How much do you agree with this statement: “The current financial meltdown is a net good for the crypto space”
– CoinMarketCap Daily Newsletter, 4/8/2020
The average response to the above question was 7.4.
8.3% of you voted “1,” and 39.6% of you voted “10.”
Here are some interesting responses as to why:
- “Because of the trillions of dollars that governments are spending not just in Australia but all over the world. Which means that the dollar will loose more value and the continue negative interest means that we will get zero interests on our investments savings accounts. That why Bitcoin, and other alt coins are looking so attractive as a secure investment in these difficult uncertain times that we are living.” – The sad part is that most people won’t feel the pernicious effects of inflation. The decrease in standard of living will be slow and almost unnoticeable. Gov’ts are literally committing robbery. 😠 People need to wake up.
- “while most people won’t replace their entire net worth/portfolio from equities and cash with crypto, they’ll at least start looking at alternatives. Gold and silver are also alternatives but crypto could no longer be ignored. Lastly, buying land/property was also an option but as housing bubbles come and go idk people will hedge on that.” – Yeah I believe we will get much new blood in the space this time. 👐
- “The reset button has been, Fiat has had it’s chips…. Crypto is the only option – Interesting fact: Historically, all fiat has had a 100% failure rate. 😲
- “Absolutely… we all knew our current financial institutions were due for a fall. I don’t know if this is it but it certainly doesn’t hurt to be ready” – Yeah, just always be prepared for the worst. That’s why its good to hedge your bets. 😄
How much do you agree with this statement: “I like to encourage my friends and family to look into crypto, especially at this point in time”
– CoinMarketCap Daily Newsletter, 4/9/2020
The average response to the above question was 8.6.
5.4% of you voted “1,” and 59.5% of you voted “10.” Hell yaaas!
Here are some “whys” and “why nots”:
- “I am 76 years old and I have preached the value of crypto to my friends and family. 98.2% let it go in one ear and do a u turn, not even go out the other. My youngest son however owns coin just like his dad.” – 76 years old! You sir, are an inspiration. You gotta show these youngins what’s up and to open their eyes! Amazing! 👍
- “i don’t actively tell people to get crypto.. but do wish some of them invested in especially Bitcoin for long term.. & also they familiarise themselves with how blockchain & crypto works.. wallets and all..“ – Yeah, we definitely need more evangelism and education in the space, and some regulation too. 💪
- “I only mention it to those I care about and 99%, like most Americans, are too brainwashed or lazy to take action.” – Haha no excuse for laziness. If they’re lazy to learn, then they shouldn’t complain when they experience the pernicious effects of their inflation (purchasing power decreasing). 🤣 Now is the time to take action.
- “Crypto is the only way to financial freedom and a way out of the current broken system.” – To me it’s more of a hedge against traditional finance. 😉
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