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Does the idea of having gold as an alternative to currencies become obsolete?

  • Yes, crypto will replace gold as the better alternative

    Votes: 0 0.0%
  • Both crypto and gold will be perceived as good alternatives

    Votes: 25 36.8%
  • No, gold will remain as the better alternative

    Votes: 32 47.1%
  • Unknown

    Votes: 11 16.2%

  • Total voters
    68
  • This poll will close: .

parallax

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Its a sticky situation, our world economy. America being the foundation of global economy,( IMHO). I hope that when it all starts to collapse , it will not start here, but other countries first, just hope I have time to convert all fiat cash, stocks and bonds into P.M. and ammo, food, supplies. By the time we realize what has happened, it may happen so fast, banks may close, few will be able to appropriately respond in time to get their money.
 

gmerkt

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My crypto has outpaced my modern stock investments by over 10000 percent in just the last year.
With appreciation at that rate in one year, you've got to know that is so outside of normal that taking money off the table is the thing to do now.

When you look at all assets as a whole, there is a constant called fair value. If one asset or another goes strongly outside the range of fair value, you have to get to the reason why. Sometimes, there is a fundamental reason. In the case of digital currencies, there isn't a fundamental reason they have soared way beyond reason in value than say fiat currencies of sovereign states. Not yet anyway. Paper money just hasn't lost that much value in the short period of time that Bitcoin and others have shot to the moon. The explaination is speculative euphoria.

just hope I have time to convert all fiat cash, stocks and bonds into P.M. and ammo, food, supplies. By the time we realize what has happened, it may happen so fast, banks may close, few will be able to appropriately respond in time to get their money.
Yes. Paying attention to history, by the time the average person finds out about a crash, it's too late. They can't liquidate because everyone else in the same predicament is also trying to to it.
 

AlaskinAssasin

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I take profits every year in currently invested in bitcoin, shiba inu and etherium along with several others. There is no crash coming in the near future unless it's the whole crypto market. It's completely unlike the dow or sp. I'm far enough ahead of my initial investment that I'm not worried about a sell-off because I'm playing with house money. People told me not to invest in bitcoin in 2012 for pennies, now it's 60+k per coin.
 

DSAPT9

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My son has been doing one of the bit coin not sure witch one and has recouped his original investment and is doing well at the moment, so as long as the world does not fall apart, I think it is fine.

But here is my question if a natural EMP as in solar flare wipes out the power grid and fry’s all the computers on the American continent what is their back up. With gold in my safe if that happened, I would still have gold in my safe. I drought it will ever happen but then every morning I seem wake up and think that is a miracle so any thing can happen.

So, I say do both, buy bit coin when it gets to the point you can recoup your investment sell just enough to do that and then let it ride then you lose nothing if it falls.

Good luck whatever you do
 

3MTA3

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Since this is the Preparedness sub-forum I'm going to look at it from two situations:
  1. Pre-SHTF: So long as the world is stable, Crypto has a role thought it's still like playing a slot machine. If you got in early as in at the beginning then good for you. Everybody else is playing Russian Roulette with Alec Baldwin. Gold will at least retain it's utility value as an inflation hedge; an ounce of gold today will buy the same amount of food as it did ten years ago and the same as it will in ten years.
  2. After/During SHTF: No Internet and no trust. IMO Crypto will be wort it's weight in nothing. Ditto for paper currency since it will be backed by nothing. What you can hold in your hand is what you need and the only thing you will accept.

    Gold will still be inconvenient at best. How do you expect to make change if you have a tenth ounce to trade for a loaf of bread? How can you trust that the gold is even real gold and not just tungsten with a thin gold layer?

    Where gold shines is for big purchases, bribes, and portability. Almost everything else it will suck.

    Junk silver is likely the best medium as it has lower value and can be trusted, since it would cost more to mint fakes than to buy the real thing. You wanna buy some bread this is your huckleberry.

    I think you will see more along the lines of barter and trade with things like ammunition filling the role of cash when unavailable.
 

AlaskinAssasin

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But with the current state of Shiba my $9k investment 6 months ago as of right now is $280K. Going to sell it off and pay off my mortgage and get a few firearms.
My 5k in shib this year made me able to retire on top of my 5k in bitcoin in 2013. My stock guy talks trash about crypto, but he has been lucky to get me 30 percent a year for the past 10 years.
 
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Gold (and other precious metals) are a de facto currency in a stable but decentralized society with weight being the measure of worth. In a destabilized society, survival items and good such as alcohol and cigarettes will become currency. Their worth will be dependent on the need of the individual.
 
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I may come across as a crazy. But I believe that the government has been using crypto as a test. To set the stage for a cashless society. With no cash they con control everyone's money and monitor spending. If they haven't been already. That's why the change shortage was a thing along with then hording citizens have been as well. I belive that precious metals as well as other things to trade depending on what people may find valuable is important. I.e. water purification, food, ammo, clothing, shelter as well as small things like tooth paste, lotions and shampoos. Just to name a few will be super valuable. If supply chain issues continue to be a problem. Like Elon musk said not quoting exactly but being able to provide to provide service is more important than money,
 

AlaskinAssasin

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I may come across as a crazy. But I believe that the government has been using crypto as a test. To set the stage for a cashless society. With no cash they con control everyone's money and monitor spending. If they haven't been already. That's why the change shortage was a thing along with then hording citizens have been as well. I belive that precious metals as well as other things to trade depending on what people may find valuable is important. I.e. water purification, food, ammo, clothing, shelter as well as small things like tooth paste, lotions and shampoos. Just to name a few will be super valuable. If supply chain issues continue to be a problem. Like Elon musk said not quoting exactly but being able to provide to provide service is more important than money,
Crypto is decentralized. The government hates it because they have no control. It's Worldwide and trades 24 hours a day.
 
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Crypto is decentralized. The government hates it because they have no control. It's Worldwide and trades 24 hours a day.
Is that why Bill gates made a patten for a crypto payment system that will determine if the level of work you've done is suffice enough to warrant your days wages? Also the federal government is trying to pass laws to make it so crypto is monitored and profits are taxed.
 

AlaskinAssasin

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That would be on his own block chain or his own payment system (which no one should use). Bill gates can't insert his pattern onto the etherium block chain or bitcoin block chain because he has no rights to it. To your second point, the US government is trying to tax profits on everything, your house, stock profits, crypto and anything that can be classified as capital gains... not just crypto.
 
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That would be on his own block chain or his own payment system (which no one should use). Bill gates can't insert his pattern onto the etherium block chain or bitcoin block chain because he has no rights to it. To your second point, the US government is trying to tax profits on everything, your house, stock profits, crypto and anything that can be classified as capital gains... not just crypto.
I mean your right, but it has alot to do with what the government can convince the people is the right idea. Covid is a good Segway into implementing Bill gates payment system into society. With covid so-called spreading on surfaces its easy to convince the masses to get rid of money. If little Billy gates can convince people the vaccine is a good idea when he's not even a doctor. How hard would it be to convince them that money is a waste.

It's all definitely something to think about. Not saying it'll happen but to my original point that goods and services will be worth more than money in the long run
 

GWS

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It's all definitely something to think about. Not saying it'll happen but to my original point that goods and services will be worth more than money in the long run
Yeahh.. No
Unless you're looking for a barter economy. Money is the exchange medium of choice. The cost of the goods and services may rise or fall, but money is how it will be paid for.
Under the table trades will always be with us,of course, but the vast majority of transactions will be paid in some sort of tender.
 
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