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RE: Gold or Bitcoin, What Would You Choose as Money?

in #bitcoin4 years ago

As you say, diversifying into a few good cryptos is a great plan. But don't get rid of your precious metals quite yet. I'm not sure how likely one of those grid disrupting solar flares is, but I'd be concerned about how the networks would hold up under one. Gold and silver might work out better for that particular type of apocalypse scenario.

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If we lose electricity the last thing in our minds will be metals...

But we have blackouts and brownouts all the time all over the world. Some last for hours.

If the power or network become unreliable for any reason, you will be happy to have had some cash and metals in hand.

You will be glad to have food and water, medicine, metals will hold you back. Cash may come in handy as paper to get fire going and keep warm or cook.

Unless you are storing the metals in your house you won't have access to them if we lose electricity, and if you do have them at home and they manage to keep some value during crisis, you'd be stranded at home trying to protect your wealth.

I have to respectfully disagree. If there is a one day blackout, life doesn't become the Hunger Games. But it will make it impossible to buy food or gas, etc, with crypto. However, cash or silver will be useful.

So stack up on gold and cash in case we have a ONE DAY blackout? Why not just store little water and food instead?

I do all all the above. And it's not in case. You should look around the world. There are regular infrastructure interruptions all the time. Did you see what happened across the US on Friday?

I come from the third world, I grew up with daily blackouts so I'm not at all concerned because that's normal to me, I know what to expect. I don't have to guess what would happen...

If someone tried selling rocks to me during a situation like that I probably wouldn't be able to contain the laughter.

And I know people that if I tried to give them crypto for anything in that situation, they would laugh and ask for gold or silver. We are both colored by our experience and knowledge.

The US had major electrical and network disruptions on Friday. This happens.