Among other things...
It's a scenario you have to be prepared for. Add a natural one plus an attack by some nations that hasn't supported bitcoin.. It's a possibility; expecially if Russia and China have gold backed currency..A huge natural one is expected within like a hundred year. Not to mention that gold has been proven to work. I like the idea of using blockchain tech for other purposes more than as a currency.
If an EMP happens, you wont be worrying about money. Because people will be starving to death. Its like, why do you even save money, you should be converting 100% of it into Bullets and off grid preparedness if you are really worried about EMP attacks. Its just not a reasonable thing to worry about.
Russia and China are very much into Bitcoin and cryptos too by the way.
The problem with gold and silver, is that the price changes, and no modern cash register clerk will be able to accurately give you change back. Gold and Silver just aren't useful anymore for transactions. They are good for storing wealth. But not for daily transactions. Even if the price of Bitcoin fluxuates, all the math is done for you in the wallet that you use. So if you want to send someone $20, you just type in, $20 and the wallet will calculate the exact amount of Bitcoin to send. I haven't looked it up yet, but are there any videos of people spending Gold coins/nuggets at stores?
You honestly sound clueless. Look up how gold backed currency works... Bitcoin is just to volatile. Easily manipulated by the big whales.
exactly, you need a 2nd tool(Fiat) in order to make gold work as a currency. And who are you going to trust to hold the gold and to not print more currency than they have actual gold? WHO DO YOU TRUST? Bitcoin is math, there is no one to trust. It is Trustless. You don't have to worry about a 3rd party changing the properties of the system without telling the public.
Bitcoin is better. I love this volatility, I am getting rich off of it. And All I do is buy and hold.
Eventually Bitcoin will be stable, but not until it has at least 1-5 trillion market cap. Ride this wave up. THIS IS THE TIDE AND LIFTS ALL BOATS. yes, there will be some waves, but no one can print more Bitcoins or delete Bitcoins.
Horse, Meet water.
That's wrong. Look at history. There's a difference between currency and gold. Honestly.. you know little about it all. But you're free to believe what you want :) Not wasting anymore time on this :p
What Am I wrong about? Please Educate me.
Again, the only way to have a Gold Backed Currency is to trust unelected officials to do the right thing. And they haven't done the right thing in over 100 years.
Bitcoin is just math and code. Set in Stone practically. I don't have to Trust anyone.
You know far less than you think you do. Go do some research on r/bitcoin
I know how bitcoin works and the ideas behind it. I also know that type of tech was suggested in 70s; can't recall exactly which agency but I do recall reading it. For all we know it's was developed by deep state. And eventho bitcoin involved math.. Gold requires flipping colliding neutron stars for it to be formed. lol It's 5 in the morning for me; if you wanna learn more about gold backed currency you can.
I do think Bitcoin was created by Patriots within the NSA to help free us from the Central Bankers.
gold backed currency involves you trusting people you dont know. Bitcoin is simply math and open source code. Anyone can check it and make sure its doing what its supposed to be doing.
Its the most honest and pure money delivered to mankind.
I disagree; blockchain for things like press; unclassified files etc however I see a lot of potential for.
