You can't have communism without central authority. Someone has to decide what the others' "needs" and "abilities" are.
Does anyone else see an economic crash coming?
- Thread starter Brent S
- Start date
Help Support Doomsday Prepper Forums:
False. The internet just makes it easier, which is true of a lot of things.
It is electronically stored but it is distributed so the whole world would have to be blacked out for Bitcoin to disappear. If you have your keys on a USB and you make it to an area where there is an active node, voila!
It remains to be seen if Bitcoin will be useful in a future crisis. It's done well in some crises but who knows what crises are coming and what will happen to bitcoin when it does? I'm not recommending bitcoin. I'm just answering the question/correcting the point.
Helen Back
A True Doomsday Prepper
Hey fam, look at the lunch box I just scored.
Schattentarn
A True Doomsday Prepper
OK, the school me. When SHTF and the electricity goes out, my corner gas station will use its generator to pump gas. How do I pay for it using bitcoin?
Arcticdude
Top Poster
Gold is $1894 and silver is $23.77 right now. I think everyone should hold a percentage of their investments in PM'S, as much as one can afford. Right now I think gold is too high but silver is still "reasonably" priced. Gold and silver will always have value, long after paper money rots away and this electronic money fad goes away.
My primary tangible asset is land. That should be every prepper's priority. Land and the means to defend it and the tools to work it. Gold and silver will always have value. Cash, credit cards and crypto depend on faith. Faith in a system that may fail.
If the PM markets were free markets, silver would be $50 an ounce or more.
Schattentarn
A True Doomsday Prepper
Good point! This is especially true for Americans and Canadians. Land is expensive in Europe as compared to North America. Famous German Attorney Reiner Fuellmich has a ranch in California.
So now I know you're approaching this argument dishonestly. Meaning I probably shouldn't bother to go on but I like to give people second chances. The list you're kvetching about didn't say Bitcoin would be useful as money for small purchases in a crisis. It said it was a "tangible asset."
But anyway it would be a boatload easier to buy gas with bitcoin in your scenario (where there is a generator on-site) than to use, say "museum-quality art". Unless this gas station also has a resident art appraiser? And did you want to trade your "Night vision equipment" for gas? I mean, maybe, but again the article wasn't talking about money for small transactions but tangible assets.
Definitely if you were going to buy a large piece of property, the art could be useful. Bitcoin even more so.
Want to understand how? Maybe to stop assuming you already know would be a good prelude?
Perhaps I will. What's the magic word?
Agreed. Finding and buying it is not exactly easy though.
What does crypto require faith in?
Mountain Dragon
A True Doomsday Prepper
All these cryptocurrencies are nothing more than highly speculative fantasy values without any real countervalue.
- No stability, their "value" changes by every second.
- No countervalue, OK, other currencies dosn't have something stable anymore since the gold standard falled, but there's absolutly nothing around except some data on the internet.
- Nothing physical, all is only some theoretical bits and bytes.
- Works only by internet.
- Can't pay any bills with it.
In my eyes cryptos are less than an weekend in Vegas: speculative, non-realistic, phantasy with an big chance to lose your money - just without a free drink and watching the boobs of the showgirls.
- No stability, their "value" changes by every second.
- No countervalue, OK, other currencies dosn't have something stable anymore since the gold standard falled, but there's absolutly nothing around except some data on the internet.
- Nothing physical, all is only some theoretical bits and bytes.
- Works only by internet.
- Can't pay any bills with it.
In my eyes cryptos are less than an weekend in Vegas: speculative, non-realistic, phantasy with an big chance to lose your money - just without a free drink and watching the boobs of the showgirls.
Digout
Active Member
Without electricity, no computer, no internet.
No internet, no cryptocurrency.
No internet, no cryptocurrency.
If there is no Internet, with no means of synchronizing nodes, I see a serious problem.
What's to keep me from making multiple copies of my wallet and spending the same bitcoin on every local node?
Try trading the same piece of artwork multiple times. You can't because it is a physical asset that can't be digitally duplicated. With artwork, value is in the eye of the beholder. In a barter economy, you aren't always going to be trading at a set value. You may get a lot more or a lot less than what the normal appraisal value would be. It's all a matter of whether your piece of art is worth more to the person you are trading than what you want from him. A cow for a Rembrandt? How hungry are you?
Schattentarn
A True Doomsday Prepper
As I mentioned once, I already talked to my local gas station owner about a SHTF setting. I asked him if I would go to the front of the line with silver dollars. He answered in the affirmative. Thinking some small retailer in a sparsely populated rural area is going to take bitcoin when SHTF is just about the most fanciful thing I have ever heard.
The power was off this morning. No problem for me. 3 degrees F. Crypto currency is a scam. If the power goes our so does it. If you paid for it with cash that is where 2 fools met. The sellers are out because you paid with very expensive toilet paper. At least they can wipe their butts. Hold crypto in one hand and poop in the other and see which fills up first.
I wrote a long answer but I realized I would be wrong to post it all. Maybe if you come another step or two.
You're right that if you can't sync nodes you have a potential serious problem. But you also made the assumption that you need the internet to sync nodes. If you separate these and start thinking about solutions, even the very obvious ones, I'd be happy to help brainstorm that with you.
I agree. Which is why I didn't suggest it. It's also why that article didn't suggest it I think. Seems that you haven't read either.
Similar threads
