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What do I invest in, the Yen?
submitted 1 year ago by [deleted] from self.AskSaidIt
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[–]blackpoop321 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 1 fun2 insightful - 2 fun - 1 year ago (3 children)
If the fiat system collapses, bitcoin, litecoin and eth or cardano will go up like crazy.
[–]spaghetti 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (2 children)
When the society collapses, and electric grid goes down, Bitcoin evaporates.
[–]blackpoop321 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (1 child)
No, that's ridiculous. We don't need a power grid for more than enough bitcoin stakeholders to setup a makeshift internet in no time if it ever gets to that point.
El Salvador has its bitcoin mining facilities powered by a volcano and Elon Musk bought 3.5 billion worth of bitcoins, pretty sure he can turn Starlink into a mining pool if its ever needed along with countless contingencies from communities around the world.
The only thing an "electric grid going down" would cause is delays in accessing your money. The network will always heal itself unless all parties storing value in it willingly and uninamously decide to let it die.
[–]spaghetti 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (0 children)
When we have a true breakdown of society, electricity is going to go off and water is going to go off and gasoline will not be available diesel will not be available and availability of products will be next to nothing.
When a true breakdown of society happens you're not just going to go to your corner store and buy some corn on the cob and a steak and a six pack of beer.
People that do have food and you offer them Bitcoin you're going to slam the door in your face.
Video: viking 90 sportfish
https://youtu.be/SRIUQ9a9Ee4
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[–]blackpoop321 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 1 fun2 insightful - 2 fun - (3 children)
[–]spaghetti 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (2 children)
[–]blackpoop321 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (1 child)
[–]spaghetti 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)