The only reasonable thing he says is that banks are dishonest, predicting what will happen with Bitcoin is like a snake oil salesman I don't believe anyone knows what will happen, except if it is being manipulated by powerful people and somehow leaks have made this known to certain people. Bottom line I don't believe anything these experts are saying, not that I don't believe in experts, but how can there be experts in something as new as cryptocurrency, what we have are people speculating on what will happen. If the financial system collapses nothing is going to have any value, except food, medicines and things that let you keep on living but bitcoin, gold or silver can't be eaten, I think nobody is facing this fact.
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Why would you eat your gold and silver!! wouldn't it make more sense to buy your food with it?
That's where the problem lies, why would I sell you food for something that would be essentially worthless, what can you do with gold or silver, in a time when the one thing you need is food?
What do you base this theory on? people keep throwing out this line "you can't eat it". Name 1 time in 5000 years of history when gold has ever been "worthless". "This time is different", it's like we've never had turmoil in the world before!!! Some of us people are just not that concerned about "food" I can grow or hunt or fish or collect my food like every other a species does on this planet. Cheers
Well it was worthless to the native americans, good for making pretty things but you couldn't trade anything with it, in fact only the highest orders had access to it, and I'm talking about the highly civilized people, Aztecs Mayas and Incas, you could buy nothing with gold, you could buy with cacao beans though.
Food is the basis of life, without it you starve, cheers.
So your whole opinion is that our civilization as we know it will end, and the people that manage to survive, will go back to sitting in teepee's bartering food scraps. Sound like fun to me!!
No, I think that's the opinion of most of the people who post here, I don't have an inkling as to what is going to happen, but if the dollar fails completely we are going to be in a very tough situation, by the way I live in Honduras, and we would be really screwed if this happened.
You say if the dollar fails we are in trouble, all fiat will fail eventually. For any society to function you need some form of medium of exchange. Just because you have food to sell, doesn't mean you have to take my shoes I made for it! So the best way for this situation to work smoothly is to use something we both can exchange to others for what we need. The metals are the only medium of exchange that has always worked for the 5000+ years of human civilization. Cheers