Even back in the day, when there was only bitcoin, the main FUD against the cryptocurrency was “oh yeah what if they turn off the internet or electricity”
I always found this to be a silly imaginary horrible.
If things get so bad that no one has internet or electricity anymore then I can’t imagine selling food or water for anything.
At that extreme case I assume barter would be the only currency. 500 ml water bottles would be worth more than you can imagine. That would probably be one of the main “currencies” of these futures. Lighters would be useful, and sadly, so would fire arms and ammunition.
In this case, sure, bitcoin is kind of dead. No one is living off their HBD in this scenario either.
So by default, gold and silver are king. Let’s be real, who cares about US, AUD, CAD or whatever fiat currency in this situation… what, you going to break into the powerless ATM and get some paper? I guess you can use it to make a fire… but books would be a lot easier to burn…
Anyways, let’s get out of this doom scenario, and steer closer to a more real possibility tied to reality.
War is going hard, you want to leave your country to find safe haven in another country. Do you want to convert all your wealth in gold? And risk having it stolen, or lost.
No way you can bring a lot all your wealth in silver, way too heavy, unless you don’t have anything of value, which I want to make clear, if you are reading this, you are in the 1% on a human scale.
In this “flee from the country” situation maybe crypto is the way to go. HBD should be pretty stable. Getting something like btc or eth will work just fine. Both of them are super liquid globally, and imagine you leave your country, travel for a few days, land to your new home land, and find out your btc and eth are not worth 30% more, that is quite the treat? Maybe you just keep most of your wealth in this new money, and thats how millions will be onboard onto crypto. Hopefully though, they onboard thanks to better circumstances.
When this orchestrated event started over the weekend, crypto took a slight nosedive, but metals stayed strong. This could be a sign to everyone, that yes, gold and silver is still king of money, but also shows that crypto is still heavily undervalued.
What is your take on all this.
btw #inleo I just signed up for premium, will post about it later today most likely :)