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Bitcoin is fiat currency, burn that if you think you can.
Stocks, commodities, and their derivatives have worked for me for well over sixty years just as they worked for my ancestors for thousands of years before. There are many ways to make money.
Of course, there's nothing quite like the shiny. A stack of Double Eagles in the hand feels mighty good.
Same or better as the fiat printed from nothing U.S. Dollar.
I'm excited for when they stabilize and we can use them for actual transactions vs. using them as an investment speculation casino....
Very risky but I've made over $3k in Tron just this week by doing nothing. I cashed out although it is still going up.
My friend who is less than 30 owns over 1000 bitcoins from way back in the day when they were mere dollars each. They are now valued at $16,000+ a piece so do the math.
If we reach a point where US currency has no value, you can bet there would be no way to cash in your crypto currency.
As an aside, because of the heavy criminal element attached to crypto currency, everyone involved is under the scrutiny of federal law enforcement. I wasn't even a surprise when the reports surfaced that Bitcoin account holders were widely known to the FBI and others through surveillance. Newer currencies are taking steps to make law enforcement monitoring harder particularly to conceal the account holders identity. But, the feds still can backtrack using the redemption process. So unless your also having a bank account in Somalia for redemption, every regulated financial entity in the USA can be monitored by federal law enforcement. If the name of the game is secrecy, crypto currency could turn out to be a strobe light in the night.
The thing is, gold is something. Shares in an actual company is something--those investment stocks were around long before the internet or electronic transactions were even dreamed of. They have a history. Crypto currency? Sure, you get in on any Ponzi scheme soon enough and you are going to make some money. But at the end of the day, you are dealing in and trading nothing.
Anyone can come up with a "currency" on the internet and try to convince others that it is actually something besides some coder's web design talent/dream. Snake oil sold well until folks wised up (well... some never did wise up). And sooner or later, they will here as well. Technically, we could all declare Monopoly money to be of worth. If you can convince enough people that it is and exchange it for commodities or other currencies, then you have a "crypto currency" equivalent. As I said before, our own dollar is based on nothing more than faith. It's no longer backed by anything except the word of the government. The word of the government--although I place next to zero faith in it--is at least something. But the word of a group of get-rich-quick internet cowboy means even less than that to me. I've been around long enough to see it many times. They WILL get rich. But somebody else, at some point, is going to get screwed.
Beyond all of that, for someone who is truly into survivalism and SHTF scenarios, it's obviously something to stay away from if you truly believe what you are preparing for is going to happen--UNLESS you have a lot of disposable income. Imagine every bank in the US closing its doors. How long would your dollar be worth anything? Now imagine the internet being suddenly gone. how long would your internet money be worth anything? In that/those events, what WOULD be of worth to you or the society around you?
Same or better as the fiat printed from nothing U.S. Dollar.
I'm excited for when they stabilize and we can use them for actual transactions vs. using them as an investment speculation casino....
Very risky but I've made over $3k in Tron just this week by doing nothing. I cashed out although it is still going up.
My friend who is less than 30 owns over 1000 bitcoins from way back in the day when they were mere dollars each. They are now valued at $16,000+ a piece so do the math.
What exchange do you use? What has been your experience? Did you fund it via bank or credit card?
I can trade knowledge and skill easier than I can trade fake money. When I was growing up my dad would tell is that the two things everyone should have are tools and knowledge. With either you will always be relevant. With both you are unstoppable. Money can come and go, money can fail, crypto currency is too erratic to even be called a currency.
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