re: Assuming hyperinflation is coming....

I completely get it man. Think about it, if you are over 50, you were like 30 by the time the internet started widespread use. It didn't really take off in usefulness until mid 2000's if we are being real, so they were at a minimum 35 yo. The internet was just a basic geek thing that no one understood how it was going to be that useful for it's first decade, and then in it's second decade, it became everything.

shite if you are over 50, you held your first smart phone at the minimum age of 40. shite it makes me feel old in my 30s that iphones only came out like 11 years ago.

I 100% understand why they cant grasp this, and don't want to grasp it.


ETA: I mean my nieces and nephews WATCH OTHER PEOPLE PLAY WITH TOYS ON YOUTUBE. I'm sure I'm going to be an antiquated old man by the time I'm 40

Gold getting smoked today. Tried to tell y’all gold wasn’t the play yet.

You think if the internet and power went out at this point, The food supply chain would just keep chugging? shite with the internet, they couldn't keep stuff stocked in the covid panic, can you imagine the panic if we lost electricity and power?

It's probably the worst argument against bitcoin. The most obvious argument is what the government does taxwise.


Now maybe you're one of those good Ole boys that can live off his own land so this makes more sense to you. Still waiting to hear what current conventional asset would do you any good in the doomsday world.

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Bitcoin is simply too volatile for my tastes and has been manipulated in the past (although the next time it crashes I might have to get in because it seems to rise to greater heights each time it rebounds). For what looks like the coming Dollar crash I would rather have something physical on hand that doesn't require electricity nor internet connectivity to trade for food, gas, etc.

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Exactly why have 14 otter pelts in the garage.

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Good luck accessing your bitcoins after a hurricane has knocked out power for miles in every direction or a strong solar flare has fricked a large segment of a hemisphere or you lose your account information.

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Oh boy. I literally do not even know where to begin with this mess. Maybe if I get some time this evening I will respond with some info.

I see you ditched the no power and internet scenario, but ok let's consider the new situation you have presented.

I follow what youre saying and agree; however what I dont get is this last line,

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You can have your bitcoins. In that scenario I will take my gold and silver coins, go hang out at the farm, grow my garden and trade bits and parts of the coins as needed for necessities as needed like they did long ago until it all blew over.

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If we are to assume the internet and electricity still exist, Why would people take bits and pieces of silver and gold as a trade, But not bitcoin? At least some gang cant break onto my farm and steal my bitcoin.

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I see you ditched the no power and internet scenario

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If we are to assume the internet and electricity still exist

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Nope, they'll still exist but it's that they would be so expensive that it would be rare to find them outside of private, gated communities. The thing is though, there aren't that many gated communities and even fewer with armed security.

In such a scenario though I wouldn't be shocked to see the federal government attempt to nationalize power and internet access (and be cheered for doing so).

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Why would people take bits and pieces of silver and gold as a trade, But not bitcoin?

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Outside of those strongholds of extreme wealth and without a nationalized power grid and internet access, getting to your bitcoins would be impossible in such a scenario. You can't trade what you don't have on you.

Again, with everything costing so much companies are going to have far fewer employees and thus far shorter reach. This means the store you go to for lumber or bread may not have electricity for your bitcoin purchase. Hell, even the service stations might not have electricity for bitcoins so you may not even be able to get gas to get that bread no lumber.

If you want to get really deep into the theorizing, think on this...

You live in an upscale but non-gated area like around LSU lakes in BR or along Lakeshore Drive in NO and we hit hyperinflation and it causes us to go into a Great Depression where we are at 40%-50% Unemployment and the federal government ends up having to cancel aid programs like Section 8, WIC, etc because the Dollar has completely crashed. You can afford to keep the lights on and have your internet and access to your bitcoins. However, keep in mind that all those tens of thousands of people who now have no jobs, no food, no place to live, no electricity, no internet, no nothing... when the sun sets at night they can see your neighborhood shining brightly and there's not much between them and you but air and opportunity.

Would you rather you and your family be there amidst the starving, desperate masses with your access to your bitcoins or would you rather you all be miles away from anyone else with a couple handfuls of gold and silver coins? (for arguments sake we can assume both places have gardens and firearms)

I would prefer the latter.

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At least some gang cant break onto my farm and steal my bitcoin.

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They have to find you first. But, that's why you buy ammo too

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If the US gets into a hyperinflation situation, then the preppers would be right. About the only thing that matters is water, weapons, food, and fuel.

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You've stated it a lot more eloquently than I. My point in gold and silver coins is that there will still be a market of some sort beyond simple bartering of goods/services and for that you'll need some sort of universally accepted currency which is not vulnerable to power outages. History shows us what that is most likely to be.

No - the federal government says COLA is only 1.3 % and there is NO inflation