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A) If your nation state fails and you have to flee the country, how are you going to take your gold with you? That's the real risk, not local vault security. B
by vinceguidry 9y ago
A) If your nation state fails and you have to flee the country, how are you going to take your gold with you? That's the real risk, not local vault security.
B) You can take your bitcoin, encrypt it, and put it anywhere on the Internet in plain sight, and then hold the encryption key in your pocket, or in your head. Totally safe, especially against the real threat, border security. Bitcoin is far easier to physically secure than gold is. What's difficult is securing it in a manner that also makes it easy to do business with it.
- bradleyjg 9y agoIf your nation state fails and you die in the resulting chaos what good will the encryption key in your head do anyone? Saying that bitcoin is a better gold because it solves the nation-state failure risk is missing the forest for the bacteria in the ants crawling on the leaves of the trees. > You can take your bitcoin ... Perhaps you could, but people generally don't. So in terms of actual risk and carrying costs and how that relates to potential market cap, your foolproof system is rather irrelevant.
- vinceguidry 9y agoYou seem to be dealing in absurd hypotheticals here. In most countries in the world, having your nation state fail on you is a very real risk. It doesn't fail all at once, so it's something you can plan for. Having wealth outside of the banking and financial sectors that's not also in physical form is something that's very valuable for this purpose.