Is True Value in Crypto or Gold?

Daily Reckoning ^ | 25 July 25 | Christopher Whalen

[Drago]

If you have no electricity you have no 401k, no bank accounts, no pension payments, no Social Security, no Medicare payments, no credit cards, no food at the grocery store to buy with silver, etc, etc.

Bitcoin would most likely come back before any of those..there is satellite blockchain, HAM radio blockchain, get a few generators and you are back “online” with the thousands of “nodes” that have a record of every Bitcoin transaction back to 2009. (Including a node at my house).

[Mean Daddy]

I meant when compared to holding precious metals, ammo, alcohol and other means of trade.

[aMorePerfectUnion]

[airborne]

I didn’t know so I asked.

Thank you for your answer!

For the record, I have gold and silver, but no cryptocurrency.

[Drago]

Those are great too...(.22LR ammo, antibiotics, alcohol for trade, etc.), but if you need to get money to a relative or friend in another state or country quick and without government interference/knowledge then a crypto like Bitcoin is the way! Diversify! Gold/silver great, but hard/heavy to move. ;-)

[EnderWiggin1970]

The public mania around stable coins is the latest evidence that humans are incapable of making rational decisions when they are part of a crowd.

I've done many stablecoin to dollar trades, and in my experience the stablecoins are usually worth slightly MORE than a dollar. Why would the symbol of something be worth more than the thing itself? Contra this authors' biased insults, it is because the "symbol" (the stablecoin) offers greater utility than the dollar itself. With a stablecoin I can store value on my own computer (etc.) without any bank and with greater security if desired (using multisig) than any physical asset. I can send it to anyone around the world for pennies in just a few minutes, compared to a day or more delay and tens of dollars to do a wire transfer (that assumes the recipient has banking access).

Stablecoins thus offer much greater utility and freedom than using electronic dollars, but they are ultimately just a bridge to the public as it transitions to cryptocurrency. They are linked to dollars and other worthless, non-scarce, centrally managed and controlled currencies that will die out soon enough.

[metmom]

Hmm, the choice between something I can touch and feel, and carry around, vs something that doesn’t exist at all if the internet crashes.

[TonyM]

If you can’t pick it up and hold it in your hand it’s worthless when the shtf.

[shaggy eel]

,,, there’s the Bureau of alcohol, tobacco and firearms - that’s gotta be the best government guidance on what to stash first.

[lucky american]

Take your gold bars down to the local market and see if they will make change ...
I have silver for that.
Gold coins are for buying a used car.

[mabarker1]

Post EMP Supplies. If the electric world fails then the We are screwed. Most people these days don’t know how to use a map and compass so that GPS Is USELESS.
Credit Cards/Checks and Cash will be useless if the SHTF.

Lead in the form of bullets.
Brass in the form of ammo.
Firearms for the above.
Gold in various weights: .5 gram/1 gram/5 gram/10 gram and 1 ounce.
Silver in various weights: .5 gram/1 gram/5 gram/10 gram and 1 ounce.
Other “Precious” Metals.
Potable Water stash and Personal Water Filters plus some Bleach or Shock and Ammonia for Disinfecting Water.
Stable Food supplies dried/canned.
Good 1st Aid Kit
Assorted Alcohol products.

Yeah I know I have gone a bit off the path here. But still, just incase.

[Mean Daddy]

So tell me how it works without electricity.

[dynachrome]

I stacked crypto in one hand and silver in the other. Guess which filled up first.

[aMorePerfectUnion]

—> So tell me how it works without electricity.

1. Block chain ledger of ownership is duplicated in tens of thousands of computer nodes worldwide.

2. There will never be zero electricity worldwide at the same time.

3. Even if a node goes out, the ledger is preserved.

4. When the electricity comes back on in a node, the ledger updates.

5. This redundancy is superior to any bank ledger.

[aMorePerfectUnion]

… and that points out the advantage and disadvantage of both silver/gold and BTC

[aMorePerfectUnion]

—> If you can’t pick it up and hold it in your hand it’s worthless when the shtf.

Agree. And if you can hold it in your hand it can be taken from you when tshtf

[packrat35]

With the Trump Administration headed down the road to higher inflation and the political chaos that results,

Stopped reading there even though the topic interests me.

[packrat35]

I am investing more this year than I ever have before. In fact, investing is my hobby and where I “overspend”.

I add to my stocks every week.
I add to my bitcoin every week
I add to other alt coins every week
I buy silver or gold every other week

Sometimes I buy too much of any of the above and have to slow down, but my wasteful spending is on investments, and I can get it back, if needed unlike most people’s hobbies and bad spending.

Right now when I spend too much investing, I cut out other spending. I am enjoying my profits on stocks, bitcoin, alt coins, silver, and gold go up and I am having fun doing it.

I don’t consider investing to be a chore or drain on resources. I consider it fun.

Really no excuses nowadays not to invest. If you can afford Starbucks everyday, you can invest. Only have $50 a paycheck, use Cash App. Its free.

[delta7]

Stopped reading there even though the topic interests me.
|————-
Your loss, emotions interfere with reasoning abilities. Fact is inflation is rising, ( many reasons) and will continue to rise.

Pull up the Fed’s Fred charts and you will see we often had -6.5 percent inflation pre 1970’s….research what was different.