[2017-11-23] Survivalists Are Storing Bitcoin Instead of Gold

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: tyz on November 23, 2017, 07:47:34 AM

Survivalists Are Storing Bitcoin Instead of Gold

Bitcoin continues to fascinate different segments of society. Bitcoin’s resiliency and unique inherent features are now increasingly appealing to those concerned with surviving a nuclear meltdown, an asteroid impact, an economic apocalypse, or any other dire disaster.

http://bitcoinist.com/survivalists-are-storing-bitcoin-instead-of-gold/

You're a little late with this thread. We don't need the same threads to be started again and again. Here's the other one for the record: https://bitcointalksearch.org/topic/2017-11-22-survivalists-are-storing-bitcoin-instead-of-gold-2445610
I'd expect a legendary members to check before they post, but I guess the sig payments are starting to overpower common sense.

Kprawn

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It is also popular with people living in countries with high political instability. If you quickly need to relocate when things goes wrong, then

Bitcoin should be your first choice. It is border less and easy and cheap to transfer from one country to the next. You do not need third party

services to transfer your wealth. {sending it from one person to the next} Cool

1Referee

legendary

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Quote from: Coin-Keeper on November 23, 2017, 08:00:37 PM

I am going on record here and stating that within 10 years it will be amazingly rare for a single transaction to be for a FULL COIN or more. I mean how many times do you buy something >10K? While this may sound like "wish upon a star" it could be 50 K easily in ten years.

Correct. That's the reason exchanges at some point will start using different nominations by default instead of BTC. It will at the same time help people giving them the impression that instead of a tiny fraction of a whole unit, they now own several units. In other words, if Amanda buys herself an amount that's nominated as 0.05BTC right now, will then be her buying 50mBTC, or 50,000Bits, which is all the same, but it gives people a higher quantity of coins from the looks. And regarding your prediction, I am even of believe that in ten years, we could have gone over the $100,000 level already. Institutional capital is just a few blocks away from reaching this market, so we'll be up for some very interesting years.

Guardian.P

sr. member

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Pandora's Tokens Bounties

Many people understand that the gold they just have lies in their closets for example, is useless and they are already thinking about selling it and buying bitcoin. I myself drive like this, and my family agrees with this. Many people adore wearing jewelry from gold and I do not understand this, because you can put on the dressing like gold and no one will approach you and will not will check it into authenticity

hatshepsut93

legendary

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It is already possible to download blocks without the Internet via satellites, if in the future it will be possible to also send transactions, Bitcoin will become even more attractive as "survivalists reserve". Also, nuclear war isn't the only doomsday scenario, there are many other possible disasters that won't lead to a widespread loss of electricity. And gold also has it's own disadvantages - it's very likely that governments will quickly seize it, it will be troublesome to use it as a currency without coinage, it's harder to store than Bitcoin and so on.

Coin-Keeper

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In a survivalist scenario Gold would be too easy to steal from someone's pocket at gunpoint. Plus if you have a Gold coin and want to trade for some basic small item how do you give away only a small piece of the Gold coin? Whereas; with BTC you can and likely will be buying for Satoshi's in the future. I am going on record here and stating that within 10 years it will be amazingly rare for a single transaction to be for a FULL COIN or more. I mean how many times do you buy something >10K? While this may sound like "wish upon a star" it could be 50 K easily in ten years. If you use a Trezor (or other good hardware wallet) you can have hidden wallets so even at gunpoint you would only give away a decoy wallet to save your life. Not possible with Gold!

tyz

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Merit: 1533

Survivalists Are Storing Bitcoin Instead of Gold

Bitcoin continues to fascinate different segments of society. Bitcoin’s resiliency and unique inherent features are now increasingly appealing to those concerned with surviving a nuclear meltdown, an asteroid impact, an economic apocalypse, or any other dire disaster.

http://bitcoinist.com/survivalists-are-storing-bitcoin-instead-of-gold/

Topic: [2017-11-23] Survivalists Are Storing Bitcoin Instead of Gold (Read 4959 times)