The Crypto Warning

a reply to: AugustusMasonicus

Not so sure, gold as an example has survived the collapse of many government issued paper based currencies.

Bitcoin shares many of the fundamentals that have sustained gold as a standard trade vehicle.

Also, decentralised mediums of exchange aren't beholden to the same constraints.

I'll bet you 1 billion Nigerian dollars that bitcoin outlasts the US dollar.

a reply to: Grenade

If the world's reserve currency 'collapses' the last thing you'll be worrying about is your pixel money and precious metals.

Also, I'm going to take your bet.

originally posted by: AugustusMasonicus

originally posted by: Alien Abduct
No no, more like don't put all your chicken eggs in one basket....and the dollar is just one basket.

You're shifting the goalposts, using the dollar and investing in the dollar are two different things.

If the dollar 'collapses' that means all other world currencies are done including your beloved crypto.

😅🤣😂

a reply to: AugustusMasonicus

If the dollar collapses you can be assured a trade vehicle will arise in it's place.

Seems logical to me that in our technocratic dystopia that medium will be digital and decentralised.

originally posted by: Alien Abduct
😅🤣😂

Now that you're laughing let me ask you what you exchange your crypto for when the world reserve currency 'collapses'?

originally posted by: Grenade
If the dollar collapses you can be assured a trade vehicle will arise in it's place.

If the dollar 'collapses' you'll be looking at a word wide economic catastrophe and the last thing the average person will care about is pixel money. How will you exchange it? Why will anyone want it?

Seems logical to me that in our technocratic dystopia that medium will be digital and decentralised.

Sovereign nations are already well into the process of displacing the current crypto scheme with their own, what they cannot control themselves they will legislate into the ground, history has proven this. Your Bitcoin is not truly decentralized, it's pegged to the US dollar.

originally posted by: AugustusMasonicus
a reply to: Grenade

If the world's reserve currency 'collapses' the last thing you'll be worrying about is your pixel money and precious metals.

Also, I'm going to take your bet.

2 years worth of canned food, the ability to grow more, and enough firepower to hold on to it.

That's the bet I'm taking.

originally posted by: AugustusMasonicus

originally posted by: Alien Abduct
😅🤣😂

Now that you're laughing let me ask you what you exchange your crypto for when the world reserve currency 'collapses'?

Women and beer.

originally posted by: AaarghZombies
2 years worth of canned food, the ability to grow more, and enough firepower to hold on to it.

That's the bet I'm taking.

What? No pixel bucks or gold?

originally posted by: Alien Abduct
Women and beer.

Neither is Bitcoin which kinda proves my point. In a SHTF scenario it's worthless.

originally posted by: AugustusMasonicus

originally posted by: Alien Abduct
Women and beer.

Neither is Bitcoin which kinda proves my point. In a SHTF scenario it's worthless.

Youight be right, but I don't think so.

originally posted by: Alien Abduct
Youight be right, but I don't think so.

Who TF wants crypto if the global financial markets collapse?

a reply to: AugustusMasonicus

Pegged to the US Dollar you say.

Well it worked for me, i've turned a $10,000 total investment into over $100,000. I've taken out my original stake and then some so everything going forward is all gravy.

Best investment i've ever made, by a long way.

My portfolio now is spread quite evenly between bullion, stocks, crypto and fiat. I'm not recommending anyone put all their eggs in one basket.

You sound quite bitter about crypto, possible remorse for missing out?

originally posted by: AugustusMasonicus

Who TF wants crypto if the global financial markets collapse?

Crypto could be the failsafe for a global financial meltdown.

National currencies becomes useless because they're backed by nothing and everyone flocks to bitcoin because there's a finite decentralized supply

a reply to: Grenade

We're talking about a 'collapse' situation, your currency, both digital and non become worthless.

originally posted by: cooperton
Crypto could be the failsafe for a global financial meltdown.

National currencies becomes useless because they're backed by nothing and everyone flocks to bitcoin because there's a finite decentralized supply

Bitcoin is pegged to the dollar and if the dollar collapses Bitcoin is pegged to nothing.

originally posted by: AugustusMasonicus
a reply to: Grenade

We're talking about a 'collapse' situation, your currency, both digital and non become worthless.

You are claiming that if the U.S. dollar collapses then so would Bitcoin. Your claim is unfounded.

originally posted by: AugustusMasonicus

originally posted by: cooperton
Crypto could be the failsafe for a global financial meltdown.

National currencies becomes useless because they're backed by nothing and everyone flocks to bitcoin because there's a finite decentralized supply

Bitcoin is pegged to the dollar and if the dollar collapses Bitcoin is pegged to nothing.

Bitcoin is pegged to the energy it took to mine the coins.

originally posted by: Alien Abduct
You are claiming that if the U.S. dollar collapses then so would Bitcoin. Your claim is unfounded.

What ae you going to exchange it for? Colored rocks or shells?

originally posted by: Alien Abduct
Bitcoin is pegged to the energy it took to mine the coins.

Is the price of Bitcoin given in watts or dollars? Oh, right, it's dollars.