There's a couple type of disasters / issues.
Financial collapse doesn't mean all our services go down; just people are unable to afford most of the services. We saw this during the 2008-2009 recession. The Internet kept on functionining.
Even during the next great depression, we'll still have international connectivity and communication allowing P2P systems like BTC exist.
What I'm concerned about is America defaulting on its debt; which would make the dollar nearly worthless to everyone else.
Topic: Cash is king - page 2. (Read 747 times)
The problem with storing cash is that the government is prone to changing the design of the notes, and declaring the old ones as no longer legal tender. They may even create an alternative currency when they chuck DoucheBank under the bus.
Frankly, the main problem for me is that they can print it.
The problem with storing cash is that the government is prone to changing the design of the notes, and declaring the old ones as no longer legal tender. They may even create an alternative currency when they chuck DoucheBank under the bus.
This is not a concern in the US. Although I do get a kick out of millennials freaking out when I hand them “small face” hundred dollar bills.
https://youtu.be/U0Cky9b6mHY?t=130
The problem with storing cash is that the government is prone to changing the design of the notes, and declaring the old ones as no longer legal tender. They may even create an alternative currency when they chuck DoucheBank under the bus.
I fear jobs cut, Unless you do not have a large pile of cash you cannot survive. Better to invest/start a business that can run run good in recession like starting a discount grocery store.
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Bitcoin is far away from being a p2p cash system and until then, cash is still king.
Agreed.
I have been stacking up BTC and Cash for the past year or so. A financial crisis is imminent there is no doubt about that, I am anxiously waiting for one tho. I have eyes on a few properties which I would love to get my hands on. For all BTC has taught me in the past 5 years is that Patience is rewarded so I am not making any bold moves just yet... :d
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I don’t know what you are going to do guys, but I’ve been piling up cash for a while and I’m going to be more aggressive doing so for the next months at least.
There are many indicators pointing to a financial crisis coming in the next months or maybe in a couple of years at most.
What we have seen in the crypto market isn’t isolated. The main stock markets are down; oil price is down… It seems like the big whales are selling to have liquidity and buy when everything is really cheap.
We can expect job losses, tax raises, cutbacks, so on.
Bitcoin is far away from being a p2p cash system and until then, cash is still king.
There are many indicators pointing to a financial crisis coming in the next months or maybe in a couple of years at most.
What we have seen in the crypto market isn’t isolated. The main stock markets are down; oil price is down… It seems like the big whales are selling to have liquidity and buy when everything is really cheap.
We can expect job losses, tax raises, cutbacks, so on.
Bitcoin is far away from being a p2p cash system and until then, cash is still king.
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