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>> "But people have hoarded gold and silver to successfully preserve value over the collapse of countless societies and civilisations for many thousands of year
by thorwasdfasdf 7y ago
>> "But people have hoarded gold and silver to successfully preserve value over the collapse of countless societies and civilisations for many thousands of years."
In 5000 years from now, I wonder if people will say the same thing about BitCoin.
- war1025 7y agoA quick search shows a post from this week titled "Bitcoin drops 50% in epic two day tumble", so somehow I doubt it. As others have said, Bitcoin is a very shallow market. It is "worth" a lot in principle, but good luck trying to convert it to cash.
- kylebenzle 7y agolocal.bitcoin.com Its easy to convert to cash in any major city.
- nostrademons 7y agoPresumably, if it gets to the point where you need a safe-haven store of value, you won't be converting it to cash. You'd be transferring it directly to the recipient in exchange for food, shelter, or weapons.
- owenmarshall 7y agoI think if you’re to the point of liquidating assets for “food, shelter, or weapons”, I would prefer a few Krugerrands that fit in my pocket. How can Bitcoin beat them in terms of durability and wide acceptance?
- snowwrestler 7y ago5,000 years from now Bitcoin will the name for a category of physical relics surrounded by myths of hidden wealth, if only they could be unlocked. A loose network of hobbyists, cultists, and oddballs will trade in old digital wallets, external hard drives, and servers, and the occult pseudo-mathematical techniques they employ to try to unlock the encryption to see what's inside. Legend has it that it would take beyond the end of the universe to succeed... but legends have been wrong before.