[SaucyJim]

Originally Posted by Whatnext

Even precious metals, diamonds will be worthless, as there will be no actual currency to give it value.
Back to barter!

Physical, tangible assets with not be worthless when currencies collapse. Currencies derived their value from the metals, which were a means of exchange - not the other way around.

[SaucyJim]

Originally Posted by Caymus

Beads and shells were much better.

Brads and shells deteriorate in circulation at a much fast pace than metals. Though metals also deteriorate.

[Joe C.]

No electricity ..... no computers ...... Bitcoin is dead.
Precious metal is money.
In times past, salt was money.
Money is physical. You can hold it. You can trade with it. Try holding Bitcoin. Heck, you can't even see it.

[DaddyD]

Originally Posted by Joe C.

No electricity ..... no computers ...... Bitcoin is dead.
Precious metal is money.
In times past, salt was money.
Money is physical. You can hold it. You can trade with it. Try holding Bitcoin. Heck, you can't even see it.

In numerous countries in Europe cash, i.e., physical money, is virtually useless as no stores or businesses accept cash, only credit cards & other forms of electronic payment.

I'm not going to debate the pros/cons of bitcoin, but I'd bet my entire net worth that at some point in the not-too-distant future, all countries will convert to a CBDC (Central Bank Digital Currency). It's much harder to evade taxes when every transaction has an online trail.

[Aces4]

Originally Posted by Joe C.

No electricity ..... no computers ...... Bitcoin is dead.
Precious metal is money.
In times past, salt was money.
Money is physical. You can hold it. You can trade with it. Try holding Bitcoin. Heck, you can't even see it.

No electricity.....nocomputers...... cash is dead.

[OrangeBlossomBaby]

Be easier to just have a microchip inserted into your arm. If you need something, you wave your arm over a platen that scans the chip and deducts from your total assets the value of whatever you're getting.

[MrLonzo]

I learned what money is when I was 26 years old reading Ayn Rand's "Atlas Shrugged".

[oneclickplus]

Originally Posted by MorTech

This guy is exactly right...An actual genius.

https://www.youtube.com/watch?v=Y37wn-f5hmE

Younger people are starting to wake up...They may be the first on Earth to be truly free/civilized and not serfs to external authorities and their Ponzi fiat. Ahh, to be 20 again

Well, this guy is "right" up to a point. If there were something to constrain the market to use Bitcoin, then perhaps some of his arguments are valid. But, his (and my) disdain for fiat currency applies to bitcoin also. Why? In the same way that governments create money out of thin air, just about anyone can (and have) create a new cryptocurrency out of thin air. As of this writing, there are in excess of 17,000 crypto currencies. As you can see, cryptocurrencies are collectively a type of fiat currency with no inherent value.

Food, water, energy, and guns / weapons to protect same are all that will matter when the USD collapses (in the very near future).

Try eating a dollar or a bitcoin.

[Pugchief]

Originally Posted by DaddyD

In numerous countries in Europe cash, i.e., physical money, is virtually useless as no stores or businesses accept cash, only credit cards & other forms of electronic payment.

I'm not going to debate the pros/cons of bitcoin, but I'd bet my entire net worth that at some point in the not-too-distant future, all countries will convert to a CBDC (Central Bank Digital Currency). It's much harder to evade taxes when every transaction has an online trail.

Yep.
It's also much easier to debank people who don't behave.

[jimhoward]

The guy quotes Maslow's needs hierarchy without attribution and then ties it to money. Okay then.

[MorTech]

Originally Posted by dtennent

Even the value of diamonds are falling with influx of man made diamonds into the market.
Now if I could only turn lead into gold….

If we could turn lead into gold then gold will be worth much less.

Interesting factoid: The man made diamonds can be made flawless so flawed diamonds are increasing in value because they are "natural". De Beers must be promoting that

[MorTech]

Originally Posted by CoachKandSportsguy

because bitcoin only has the value from the full faith and credit of the tech bros. . .

just another store of value based upon belief.

no electricity, got benjamins bro?

Peter Schiff! Is that you?

[MorTech]

Originally Posted by Caymus

Beads and shells were much better.

I prefer copper wompum.

[MorTech]

Originally Posted by Michael G.

If you tied his hand behind his back, he couldn't talk. 😦

Nah...He doesn't look Italian.

[MorTech]

Originally Posted by Pugchief

Correct.

What requires us to use USD as a medium of exchange is the fact that tax remittances must be made only in that medium, at gunpoint. Failure to comply will land you in prison.

Other mediums of exchange might be useful, but as OBB points out, both parties must agree to use said medium. When you have 325 million people and countless commercial entities constantly exchanging, it's really tough to find a common currency.

Legal tender laws...If they have to enact a law (aka, threaten us with death) to get us to use it then....Hmm. What could they possibly be up to?