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I really think this opinion is short-sighted. And it comes from a less extreme version of the same place that 9/11 deniers operate from; normal humans don't wan
by 013a 8y ago
I really think this opinion is short-sighted. And it comes from a less extreme version of the same place that 9/11 deniers operate from; normal humans don't want to naturally think about loss of control and what that loss of control would look like. So its easier to just say "if this happens we're all fucked, don't even try"
There is practically no evidence in history where gold had fungible value then became worthless. Nothing else matters; everything else is conjecture, opinion, and extrapolation.
Yes, we live in a very fragile society. Yes, if complete collapse happened, there would be a period of extreme chaos when millions, hundreds of millions, die.
But the chaos would stabilize, barring any extenuating factors like a T-Virus. And in that world, maybe US Dollars would still hold some value. History says Gold probably will. Bitcoin though? Bitcoin requires a global network of miners. It would require having access to the original blockchain that gives your wallet value. In the best likelihood, the currency would splinter into every small network that can still run miners. And when energy is so expensive that you need all of it to power your lights, vehicles, and medical equipment, why would anyone spend it on an expensive mining rig, even if all the complex computer equipment necessary to make it run were widely available?
And then a guy walks into town with a bag full of gold. Suddenly Bitcoin isn't looking all that valuable as a currency. I'll sell my extra food to the guy with the gold, because the guy with antibiotics down the street would also sell to the guy with the gold, and the guy in the town over with car parts would also sell to the guy with the gold. That's what makes currency work; people, not software.
- 21 8y agoThat guy with a bag full of gold will most likely not be the one who had that bag of gold when chaos erupted, that was my point. Those who survive the chaos will be the ones strong enough and ruthless enough to organize themselves into powerful gangs. The nerd with a bag of gold will most likely be killed and it's gold stolen. Being a prepper with an underground bunker will also not be of much value, you will just be seiged out. If you are rich, what you'll need is a small private army to protect you, a small working force to feed you and the army, and the political skills to be able to enter into the right alliance after that.