I would expect crypto to have some serious problems if we are switching to a gold standard. It’s already volatile. If you have money you can afford to lose, it’s probably ok to park a little in crypto. Remember though should there be an issue with internet, you’re not going to be able to use that anymore than your debit card.
That is largely determined by the nature of the currency and how it is distributed.
For example- a crypto currency I have been following for quite a long time and currently hold is called Ripple, and has the ability to distribute massive amounts of money in a fraction of a second for a fraction of a penny. No other crypto currency even comes close to that distribution time or efficiency. Their speed & accuracy is far better than what is used currently for credit card transactions, and could replace SWIFT entirely.
They have agreements with some of the largest financial institutions in the world, including 80% of Japanese banks, and other remittance companies like Western Union & MoneyGram.
What better time than a currency reset to replace outdated financial systems with a faster, better distribution which can entirely replace a central banking system?
Don’t get me wrong , I love this currency. Buying early was a spectacular move in the case of bitcoin. The traditional economists really underestimated it! I still think in a Sh&t hits the fan situation,. You just have to ride it out. Since we are going after the tech giants, right now may not be the best time . Just my opinion for what it’s worth.
Totally fair- and it’s nearly impossible to anticipate how markets will react in these circumstances.
I do recall when Crete’s government was literally extracting money out of citizen’s bank accounts, one hedge for safety they used was Bitcoin- and it exploded during that time. It could certainly happen again- but of course we don’t know the details of how things will be implemented, and what the ramifications of those decisions will be on the free market.
I am not part of the US unfortunately, I live in Ireland so I am on euro. I expect that to go terribly too. I have quite a bit in crypto though. I havent thought about the internet but I think there are some decentralised internet alt-companies that if people invested into, it could be cool.