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    Don’t Fall For The Hype: Bitcoin Isn’t A Safe Haven Asset

    Mac Slavo
    May 23rd, 2017
    SHTFplan.com
    Comments (57)
    Read by 5,094 people

    bitcoin

    If you were aware of bitcoins seven years ago, you were probably mocking the idea of a cryptocurrency. After all, who would pay money for useless digits on a screen? But don’t feel too bad about not buying bitcoins when they were cheap. Even the people who were interested in bitcoins early on had no idea that they’d be worth anything.

    That’s certainly case with Laszlo Hanyecz. On May 22nd, 2010, Laszlo made history when he made the very first purchase with bitcoins. He spent 10,000 of them to buy two measly Papa John’s pizzas. Considering the impressive rise in the price of bitcoins over the past few weeks, it’s safe to say that if he hadn’t made that purchase, his life would probably be very different right now.

    On May 22, 2010, Hanyecz asked a fellow enthusiast on a bitcoin forum to accept 10,000 bitcoin for two Papa John’s Pizzas. At the time, Hanyecz believed that the coins he had “mined” on his computer were worth around 0.003 cents each.

    Bitcoin mining involves solving a complex mathematical solution with the miner being rewarded in bitcoin. This is how Hanyecz got his initial coins.

    The cryptocurrency has many doubters as it continues to be associated with criminal activity, but it has still seen a stunning rally. Here are two facts, on Bitcoin Pizza Day, however, that highlight this:

    • While being worth $30 at the time, Hanyecz pizzas would now cost $22.5 million at current bitcoin prices.
    • If you bought $100 of bitcoin at the 0.003 cent price on May 22, 2010, you’d now be sitting on around $75 million.

    Of course, bitcoin isn’t the only cryptocurrency that has broken price records over the past few months. The combined market capitalization of all cryptocurrencies has been surging as of late. Most notably, the price of Ethereum has risen from $10 each in February, to nearly $180 today, making it the second most valuable cryptocurrency.

    As for what’s driving this trend, there are several factors. There is the fact that Japan recently passed a law that allows stores to accept bitcoins as a legal currency. Since Japan is the world’s third largest economy, it’s no surprise that this law has pumped so much money into the cryptocurrency marketplace. Also, China has had a big impact on bitcoin over the past year. Lately, Chinese citizens have been exchanging their depreciating Yuans for bitcoins.

    What could be one of the biggest drivers in this market, is political turmoil and uncertainty around the world. Bitcoin has long been considered a safe haven asset. In any country where there is a political or economic crises, you will find a lot more people trying to move their money into cryptocurrencies.

    However, these cryptocurrencies are a rather strange safe haven. At the end of the day, they are just digits on a computer screen. They aren’t backed by anything. The only advantage they have over fiat currencies, is that they’re anonymous and impossible to inflate in most cases. It could be argued that gold and silver are much better safe haven assets. After the bitcoin price collapsed into oblivion in 2013 (which could easily happen again) I warned that there is only one asset that is truly a safe haven.

    Only physical assets – the kind we can hold in our hand – can truly be called safe havens.

    Food in your pantry that you can consume at anytime.

    Skills and labor you can barter for other goods.

    Precious metals, which have stood the test of time over thousands of years.

    Land on which you can produce food and alternative power.

    These are the assets that provide a realistic level of safety and security.

    These are money when the system crashes and confidence in the paper ponzi schemes around the world is lost.

    Bitcoin is fine for certain types of transactions. But having funds in Bitcoin is, obviously, no different than a deposit account at a bank which can go under or a stock market prone to manipulation.

    If you want to protect yourself during a crises, there are only two things that will keep your finances above water. Physical assets, and the skills that will help your earn more money. Everything else will simply evaporate when the system collapses.

    Read More:

    WHERE IS OUR MONEY: $473 Million In Bitcoins Vaporized As Mt. Gox Exchange Files Bankruptcy

    BitCoin Down 50% In Massive Sell Off: Over $1 Billion Vaporized In A Few Hours

    Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.
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    Author: Mac Slavo
    Views: Read by 5,094 people
    Date: May 23rd, 2017
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

    57 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Gandhi says:

      Ain’t I been saying it

    2. Ghettocop says:

      But I didn’t, so let’s move on.

      • YelowPokaDotBikini says:

        The NANO Second the Grid collapses, this Crypto Bitcoin digital stored currency becomes instantly worthless. And or it can be hacked and stolen or deleted with a mouse click. You want to put all your wealth in the control of a hack or mouse click?? Or hold your wealth in your hand where it is safe. The 5 G’s – Ground, Grub, Gas, Guns, Gold and Silver.

        This is what you need below for the new money – PM’s Precious Metals, and the people of Arizona have the foresight to plan ahead for the new Money of Gold and Silver as Legal Tender for exchange removing all capitol gains on the metals.

        AZ just passed into State Law:
        The Praise passage of Arizona “Metals are Money” law

        SPRINGFIELD, Virginia – Campaign for Liberty Chairman Ron Paul and Campaign for Liberty President Norman Singleton issued the following statements regarding the Arizona Legislature’s passage — and Arizona Governor Doug Ducey’s signing — of HB 2014.

        HB 2014 defines gold, silver, and other precious metals as legal tender and exempts them from capital gains taxes, thus allowing Arizona residents to use precious metals instead of Federal Reserve notes.

        Dr. Paul testified before the Arizona Senate Finance Committee in support of the bill in March.

        “Every supporter of free-markets should cheer Arizona’s passage of HB 2014. There is no more justification for forcing individuals to use government-created money than there is for forcing them to drive government-manufactured cars. In fact, as the Federal Reserve’s 114 years of failure shows, giving monopoly control over our money supply to a secretive central bank is the most dangerous form of government intervention,” said Dr. Ron Paul.

        “By allowing the people of Arizona to use an alternative to Federal Reserve-created fiat currency, HB 2014 will help the people of Arizona survive the next Federal Reserve-created recessions. Passage of this bill will also help make Arizona more attractive to the growing number of people seeking alternatives to fiat money in order to protect themselves, their families, and their business from the effects of Federal Reserve policy. Thus, this bill will help attract new investments and jobs to Arizona.

        “I hope other states follow Arizona’s lead and pass legislation protecting the right of their citizens to choose to use precious metals instead of the Federal Reserve’s consistently depreciating fiat currency,” continued Dr. Paul.

        “Congratulations to Arizona Campaign for Liberty for their successful efforts to pass HB 2014 through the Arizona Legislature, and then convincing Governor Ducey to reverse positions and sign the bill into law,” said C4L President Norm Singleton. “Campaign for Liberty is planning to work with activists across the country to get more state legislatures to follow Arizona’s lead. We will also continue our critical work to change our nation’s money monopoly by getting Congress to vote on — and pass — Audit the Fed.”

        ***This is the Law that needs to be used as a Model for every state in the Union to pass. Take this Laws, verbiage and Pass this on to your State’s representatives to get this bill passed into law into your state. Cut and paste the language and email every State Representative in Your State. We’ve got to get the ball rolling folks. I believe Idaho also has have passed similar language, removing the taxation of Gold and Silver and that can then also be used as Money legal and tender to pay debts and or taxes

        ***If States were smart they too would quickly pass this bill into law, so they too can begin to accept State and local Taxes and Fees in the form of Gold and Silver for debt payments so they can begin to accumulate these Precious metals as a hedge against inflation, shore up their budgets, and prepare ahead of time as the destruction of the US dollar continues to devalue which is .02 cents shy of actual death.

        Any Prepper out there needs to stack as much gold and silver as you can right now while it is cheap, to protect and preserve your wealth as well. Sitting with $10 paper IOU Bills in #10 Cans is about as dumb as it gets. You know who you are.

        And if you say you can’t afford to exchange your dollars for PM’s, I say, You can’t afford not to. Silver is just around $17 per ounce now. The Price of a 24 pack of beer. So if you can afford beer, you can afford to start accumulating some Silver. Those with out any other form of money will be shitting skittles when this all collapses. You with got it and are prepared or you are a dope sitting with $10 Bills in #10 cans.

        • Azrael says:

          I’m not completely defending Bitcoin, but you are not looking at it the right way. Sure PM’s in hand are very good, but there is nothing wrong with cryptos. I’ve heard all of the above arguments and yes there are flaws, as there are with PM’s, but they are a viable means of freedom. Out of the U.S. dollars in circulation only 1.2 Trillion have been printed or coined, the rest of the dollars in circulation are just bits like Bitcoin. EMP/CME, they are just as gone. Actually I can save my various crypto currency wallets on a thumb drive and store it in a EMP proof container. Yes I need the network to be intact, but I’m just showing you there are flaws to it all.

          PM’s have their flaws too (But I LOVE them). You currently couldn’t spend them without converting them to $$$ or whatever you home currency is. Sure the 1oz Gold Eagle has $50 face value. You may be able to spend it a WalMart if the cashier knew that it was legal tender. They are just as likely to refuse or even call the police. If you could spend it, that would be goofy, because it’s only worth $50 face. Forget trying to get them to give spot for it. You should have all of you Beans, bullets and Band Aids first, before you get Bullion and even have about $2000 in Federal Reserve Notes stashed in small denominations at home. People will take them for a bit, before they realize they are worthless in a total collapse, but what if power is out regionally or the Visa/MC system is down. Cash will be king. Once you are pretty squared away and you have extra money to put aside, then PM’s as a hedge for dollar destruction.

          Now about cryptos. It would be very difficult for any government to completely ban them. Some of the new ones, such as ZCash can be used with COMPLETE privacy.(ZCash BTW is the second most valuable, not Ethereum) Ethereum, looks like it has a more robust platform, but time will tell. Bitcoin has a finite number of units 21 million. Once they are all mined, that will be it. Now I don’t care for Bitcoin, but they paved the way for a better crypto currency. What it will be I don’t know. I know for a fact that every single Bitcoin transaction can be followed, even through a mixer. So if a gov’t wanted to really put the energy into trying to find that pedophile ring, they will. Need a private currency.

          Money what we all say it is. If my tribe uses a certain rare sea shell, because we live hundreds of miles form where you can find them, then that is what is money. If some smart guy comes along and brings a wagon load with him, then we have inflation. Money has to have utility. Electronic money, whatever the form, speeds transactions up. Things can move faster.

          Anyhow I tried to hit the high tops and I know there will be naysayers, but spread your bets. I personally have an Ethereum and ZCash mining rigs.(I refuse to buy the currencies, for now) I can change them for Bitcoin if I desire, but for now I’m hanging on to them. I like the fact that they both are going up vs the dollar, but really don’t care right now. I also have Gold and Silver and FRN’s. We shall see right. I’ll just be out of some electricity and I can make several real cool PC gaming rigs if I have too, or just sell the GPU’s on eBay or something. I look at it as a hobby. Hobbies cost money right? No harm no foul to me.

    3. rellik says:

      I agree that physical assets
      are all you can depend on.
      PMs are a little out of reach
      for me and frankly of little
      use where I live. Cash works
      for now.

      • Eisenkreutz says:

        HAVE FUN CLEANING UP THE BODY PARTS OF DEAD TEENAGE GIRLS BLOWN TO BITS

        CANT HAVE ANY COUNTRY BEING TOO WHITE NOW

        GOTTA GET THAT DIVERSITY

      • TEST says:

        Silver at 17 – 18 bucks an oz is “out of reach?” I’m confused.

      • durangokidd says:

        “Don’t Fall For The Hype: Bitcoin Isn’t A Safe Haven Asset”.

        You got that right Mac. BitCoin is nothing more than “digital tulips”.

        Kudos to the individuals who got in very, very early but it’s a Ponzi bubble now. Last one to sell will be left holding the BAG !!! 🙂

        • SmokinOkie says:

          Hey dk, how you been? I was gonna mention tulips but you beat me to it!
          On the other hand, probably everybody on Mac’s site is LESS BANKRUPT than the federal government. Haven’t checked the bank statement this month but I doubt the mrs and I are 19 Trillion in the red. So, compared to Uncle Sam, we’re all rich!

        • YelowPokaDotBikini says:

          Those sitting flush with $10 IOU Promissory Bills in #10 Cans will also be holding the bag or a Can as in your case DK financial Know nothing. Yeah its in the archives masked man.

        • TheGuy says:

          “Digital Tulips”… “Ponzi bubble”… So basically just like everything in Western economies eh?

    4. AUBroker says:

      It couldn’t hurt to get yourself some physical silver.

      While it may be of little use now, it could be of great use when the time comes.

    5. Chainsaw says:

      I got involved with crypto currency in February this year. Some big industries are moving into the space. It’s far from too late, I doubled my cash in the last 5 days alone and have cashed out weekly from my purchases, playing on their money now and am astounded by the gains. Coinbase is where I get it and I trade on POLONIEX and BITTREX. Start small and watch it grow.

      • Gandhi says:

        My gold dealer would not trade me bitcoin for gold?

        • YelowPokaDotBikini says:

          Gandhi is another fool who comes on here criticizes everything but has no plan. He still uses his IOU Promissory coins and fiat currency as if it is real money. He will disappear when this monetary system collapses and he will then become a refugee checking into a FEMA camp along with all the other Unprepared dopes like him who have no Gold or Silver to buy food or pay his rent. However he will have a fun time in the FEMA Camp playing checkers, as he will be surrounded by other like minded naysaying morons all in the same boat.

          • Truthbetold says:

            And somehow you think that when money tanks and millions of people are without gold and silver but have guns that your gonna go and trade somewhere? BWHAHAHAHA Really?

            What the hell do you think all the millions of hungry gun slinging people are going to be doing while you walk and talk gold and silver for trade and where there hell do you people think will be open for business with millions of hungry crazy people running everywhere at once? Shooting everything in sight? The day people understand their money or banks or power or food is gone done over, that will be the end of going outside….. and you think he’s the fool…you think hundreds of millions of people are gonna march into a fema camp and thats it? Just you guys with gold and silver left to soak up the good times? Lol

        • Azrael says:

          JM Bullion will.

      • Grunty McPhereson says:

        Agree, Chainsaw. I have some $$ invested in cryptocurrencies, and I also believe that it still has a long way up to go. I’m keeping my finger on the pulse and I have a specific $$ goal in mind for cashing out. Apmex directly sells PMs for bircoin and that is the route I plan to take when I reach my modest goal and cash out.

        Fully agree also with others here that you have to have the basics covered first: food/water, security, PMs, skills…, but it’s also important to be diversified.

        God Bless

        Grunty

        • Chainsaw says:

          Tripled my portfolio this week trading Etherium Classic. First it was a scam, then it was a bubble. It spends like real money every week that I cash out some gains! It’s not always about worst case scenario. Sometimes it’s about using what’s available to make the best of your situation. Lack of situational awareness with the haters.

    6. Gandhi says:

      I have an old TI 4 computer. It must be worth hundreds of millions of dollars by now?

    7. TEST says:

      Was reading an article on Agora by former CIA officer Jason Hanson noted below, re. the NY Times best seller book by former Nightline reported Ted Koppel. Some excerpts:

      Shortly after midnight on April 16, 2013, at the Pacific Gas and Electric Company’s Metcalf Transmission Station there was an attack which nearly took out power to most of Silicon Valley. It’s been called “the most significant incident of domestic terrorism involving the grid that has ever occurred”…

      First, the attackers lifted a heavy metal vault cover (too heavy for just one person) to get to an underground vault where they cut AT&T’s fiber-optic cables. That instantly knocked out service to nearby neighborhoods. Slightly more than half an hour later they began their actual assault on the power substation. They took out seventeen giant transformers in just 19 minutes. It was easy too… They simply sat on a hillside and shot more than 100 rounds of 7.62×39 rifle rounds into the radiators of the transformers — which are completely unprotected. Thousands of gallons of oil leaked, causing the electronics to overheat and shut down. Then like a Hollywood movie, at 1:50 a.m. — just one minute before police arrived on the scene to find the substation locked — the attackers slipped away into the night, never to be found. The only evidence found on the scene were 7.62×39 shell casings with no fingerprints and no DNA (this cartridge is typically fired from AK-47-type rifles — a favorite weapon of Mideast terrorist groups like ISIS). The unsolved case has been shrouded in mystery. No suspects have been named, and no motive identified…

      Jon Wellinghoff, who was chairman of the Federal Energy Regulatory Commission at the time of the attack, believes that’s because it was just a rehearsal for a future attack. The former vice president of transmission for PG&E points out that it was a “…very well-planned, coordinated, very well-executed major physical attack on an important part of our electric grid infrastructure.”

      Ted Koppel, the famed ABS Nightline reporter spent a year and a half researching this, and wrote a book called Lights Out: A Cyberattack, a Nation Unprepared, Surviving the Aftermath. Don’t read this before bed time!

      – NSA’s top cyber warfare expert George R. Cotter is convinced that China and Russia have already penetrated the U.S. power grid, for reconnaissance and to plant cyberweapons that could be launched in the future!

      – Ted Koppel, “The government agencies and civic organizations charged with enabling the nation to recover from catastrophe are also woefully unprepared…”

      – Major General Brett Williams, former director of operations, U.S. Cyber Command, says, “We can’t defend against everything, but right now we’re vulnerable to just about everything.”

      – The chief of U.S. Cyber Command has reportedly been quoted saying it’s a matter of “when… not if” we will be attacked by this horrible weapon of mass destruction.

      – “The collective result of these kinds of attacks could be a cyber Pearl Harbor.” – – Leon Panetta, former Secretary of Defense

      None of this addresses the threat of EMP, or a coronal mass ejection from the sun (see Carrington Event from the 1850s, which will happen again at some point, and we just missed the scenario above with a CME a few years ago where we were two weeks behind in our orbit). And I was talking with a very senior technical friend, with a Ph.D., from Denmark a few weeks ago (before the Wannacry ransomware imbroglio), who was over for dinner with his wife, and who was in the US specifically to deal with cybersecurity issues with US officials. He, of course, couldn’t tell me all the gory details, but he did say that almost everything was infiltrated. Why no attacks then? I asked him. He noted it was because these types wanted *money*, and bringing down the whole house of cards would destroy everything they wanted, as well as unleashing limited gov’t resources on them.

      However, I asked, what about N. Korea, Iran (who might have nothing to lose given regime change, or some Islamic nut who wants to bring in that stupid “hidden imam”), or a larger war – possibly a limited exchange nuclear war + other “stuff” like cyberwar – what about all the systems infiltrated then by malware? He had no comment. Kinda sobering…

    8. Gandhi says:

      Bitcoin is safe as your mama’s womb

    9. pipes says:

      “…collapsed into oblivion…”
      That quote is hardly the only silliness in the above article, but it was the final straw.
      When one knows little to nothing about a subject, one should refrain from WRITING ARTICLES about a subject.

      • @anonymous5 says:

        When the grid goes down then the cryptocurrencies will have collapsed into oblivion.

        That is not conjecture, it is fact.

        It has already been mentioned but the cryptocurrencies are today’s version of tulip bulbs.

        Their value is only expressed in terms of fiat currencies as well.

        Pretty shaky if you ask me.

        • Azrael says:

          I’m glad all of you Tulip Bulb prognosticators have a good Crystal ball. Some of you remind of the old timers who saw the first cars and said it would never last, or the folks who thought a Personal Computer was dumb idea. You MAY be right, but I don’t think so. Blockchain currencies are the future, whether you like it or not.

          Back in the day there were folks who hated the idea of PAPER fiat currency instead of good old metals. I would have been one of them, but the reality is the Bankers wanted FIAT. They also want Blockchain/Cryptos. They will get their way, we just need to make sure crypto are on our terms and not theirs. If our cryptos are wide spread by the time they get on the stick, then it will be harder to dislodge Bitcoin/Ethereum/ZCash/Monero etc.

          Only the dumb will ignore them. You need to study the crap out of what they are and then make an informed decision. Most opinions here about this subject are NOT informed. If you decide not to partake in cryptos then so be it, but do it from a position of informed decision, not ignorance.

    10. Justice says:

      Off Topic: WATER – This helped me out a lot understanding water. It’s pretty simple so here goes. What the “filter” is called tells the tale.

      Water Filter vs. Water Purifier

      A water filter is okay to use when you still have tap water available. It will clean it up and make it taste better. However, with non-potable water (streams/pond), it is really advisable to either boil it or chemically treat it with bleach or Purification Tablets.

      A water Purifier can safely be used with either tap water or stream/pond water without the need to boil or treat it.

      I hope this information clarifies the issue of water. It did for me.

    11. Jim in Va. says:

      I won’t touch bitcoin,even though just about everything we do anymore is digital. I’d rather have physical silver or cash in my hand if possible.

      • TEST says:

        What happens if there is a massive grid issue like a CME or EMP? Don’t get me wrong, I wish I bought when bitcoins were a penny… but I also wish I were King of England, knew all the lottery ticket numbers in advance and could pass like Tom Brady.

      • Gandhi says:

        I invest heavily in lead and copper 230 grain pellets

      • Lawless says:

        You guys aren’t the sharpest knives in the drawer are you?
        I’ve made thousands in cryptos over the last 6 months. Buy bitcoin, let it increase in value, sell it and buy your physical metals, food, water systems etc with the profits.
        It doesn’t have to be a long term safe haven, just make some profit and dump it.

    12. truckee ted says:

      Not backed by anything!? Sounds like the US Dollar – as well as all fiat currencies.

      • YelowPokaDotBikini says:

        I have this underlying suspicion that Bit-coin was the making of the New World Order. It was created as a decoy and a Fake safe haven for the naïve to flock to as paper currencies collapse. Don’t you find it odd that most governments now don’t try to fight Bit coin. Oh they did in the beginning, just for the dog and pony show as anything Governments fought must really be good. Suckers are conned everyday, this is another digital Con, and with a click of a mouse from who knows where, Poof!!! You just got robbed. Thanks for playing, Next? Bitcoin is a Bigger Monetary Con that the Inflation game that devalues your Paper IOU currency. Stoopid Sheep get fleeced.

      • @anonymous5 says:

        I’m no fan of fiat currencies either, but at least they will not disappear when the grid goes down.

        With cryptocurrencies, all you would have left after the destruction of the power grid is the memory of what you once had.

        • Truthbetold says:

          And 100 of your none prepared neighbors are just dying for your goods and have you out gunned…. so how do we get out and to where to trade our gold? Lol where oh where do you people think millions of hungry angry freaked out gun owners are gonna be when you go out?

          Wake up

      • Gandhi says:

        My $1250 per oz gold is backed by .223 Remington

    13. Instead of waiting for some monumental event, begin a life of bartering. Money is a scam. It always has been. In days gone bye, people flourished through cooperation. There is so much talk of “you’re own your own” that most of us are tricked into an exaggerated sense of viewing life as individuals. Individualism is not a positive survival attitude.

      Now, don’t think I don’t understand the concept of independence from government. I do. But that is merely a starting point. I want my life to be so independent that nothing the government does effects me. It’s a goal. I’m far from it. I’ve been playing around with sales in different ways since I was small. Almost anyone can sell. But some are naturally better than others. Practice improves anything. Why wait until your life depends on it. Besides, don’t you resent sharing the value of your time and sweat with the takers. By bartering with friends for fun, you learn the skills and put into place a cooperative that can get you past emergencies.

      That’s my take on Bitcoin. I thought about getting into it, but I’m not confident that it will be good if there really is something like solar flares or nuclear war, etc. But bartering is just people to people without any interference from somebody who has no business butting in. It’s really absurd that any of us ever fell for the whole money scam to begin with. Laziness and a lack of being inconvenienced. That’s behind all our problems.

      Even so, it is probably a good idea to have cash, pm, and some Bitcoin.

      __

      • Truthbetold says:

         I thought about getting into it, but I’m not confident that it will be good if there really is something like solar flares or nuclear war…..

        WHAT??? LOL I doubt youll have to worry about getting caught with bitcoin incase they have nuclear war…lol

    14. Webrat says:

      My son got me into Bitcoin in its second year. We literally had tens of thousands. When the online markets (not for drugs)started accepting them for hard goods, we spent most of them. Foresight no,, lack of trust ,, yes.
      But in the end , we still have several hundred and our portfolios are looking pretty good at this time.
      We both even pay taxes when we convert them to fiat currency (another “useless” non backed currency).
      We still have large wallets of other alternative cryptos and those we trade or sell in order to purchase ETH,,LTC,,DOGE. There are a few others but those are the main 4 we play with.
      These “crypto-currencies” are no worse than the imaginary money in use every day. These days it is all nothing more than ones and zeroes somewhere on a server(s). I ADO fully believe however the Bitcoin model is being used to promote a cashless society though. The BTC block chain also has been implemented into many other applications.

    15. Rick James says:

      Completely wrong crypto assessment. I am a software engineer, with a deep understanding of finance.. And this dude doesn’t understand crypto in the least. If you miss this boat you will punch yourself in the face. Silver and crypto. That’s all you need for things. Even if you don’t understand it, it’s not numbers in a central bank computer, it’s decentralized, auditable numbers owned by no-one. People don’t get this, but the value is in it’s limit. Same as for gold and silver, scarcity and fungability are the key. Oh and removal of central banks. That’s the #1 reason this assessment is garbage.

      • Azrael says:

        Thanks for this. I posted several responses before I saw this. Between the few here who understand it, maybe some of these other thick head folks will take a look and maybe they will be thanking us later.

    16. John says:

      If it is digital, they can steal it!

    17. Beaumont says:

      An Indian drunk once told me, truly, that the only way not to lose at casinos is never to play with scared money.

      In general, your venture capital should be discretionary. You would reinvest the winnings, which should usually, formally be guaranteed — not a gamble.

    18. Steve says:

      well had I invested in bitcoin instead of silver and gold like I did I’d be a multi-millionaire right now!

      oh well…live and learn

    19. PO'd Patriot says:

      I drive a Dodge Stratus.

    20. Steelerdude says:

      All that it takes is for the big banks to say “We are not going to be doing any business with a business that accepts bitcoin as currency”

      as it was said in the Simpson cartoon “and its gone!”

      • Azrael says:

        Interesting idea. They might get away with it, but what a news story that would make. It might backfire on them. public sentiment is a bitch sometimes.

        Or they might get sued and loose. That is something they certainly don’t want to happen.

    21. rodger hanks says:

      neither is the U.S. dollar or practically any other currency for that matter!

    22. Anonymous says:

      Please listen to this stranger,
      Or if not me, @jpmorgan who is an emerging leader in blockchain.
      Crypto currencies are the new money.
      It is the money of the free world.
      A world free of slavery to banks.
      Money is a tool, and good money is a good tool if used properly.
      They have a lot of advantages over debt-based fiat currency.
      It can be held in your hand in cold storage.
      It can be traded decentralized across the globe.
      It can be as secure or insecure as suits your needs.
      Unless and until we are bombed into the stone age, the blockchain will await you somewhere.
      It cannot be deleted.
      There would need to be a global failure of all systems designed not to fail at once.
      I suggest having some on-hand in cold storage in paper wallets laminated.
      Thus far it is the most stable currency globally accepted for value without backing of a central bank.
      Learn for yourself!
      blockchain.com
      coinbase.com

     

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