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veteranBtc
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March 23, 2013, 09:44:40 PM
 #21

Want to stay safe? Buy gold..

Want to risk and win? Invest in bitcoins

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shinkicker
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March 24, 2013, 10:08:34 AM
 #22

I would say gold, for the main reason that without the internet, tech and electrical power, bitcoin cannot function.
myhoho
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March 24, 2013, 10:14:06 AM
 #23

Quote
Without the internet, tech and electrical power, bitcoin modern society can not function.


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dirtycat
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March 24, 2013, 10:21:33 AM
 #24

I would say gold, for the main reason that without the internet, tech and electrical power, bitcoin cannot function.

+1000000000000000000000000000000

gold and silver ftw!

poop!
MagicBit15
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Let's Start a Cryptolution!!


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March 26, 2013, 04:06:40 AM
 #25

Becoming massively adapted, I believe the best is yet to come!!

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March 26, 2013, 04:10:47 AM
 #26

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Without the internet, tech and electrical power, bitcoin modern society can not function.


+1

What will you do with your gold if we lose electrical power and the internet shuts down?
niko
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There is more to Bitcoin than bitcoins.


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March 26, 2013, 04:19:39 AM
 #27

Bitcoin is the only available massively-adapted, recognised and guaranteed facility to preserve your savings . (Period)


Yes, we are inevitably headed in that direction. My concern is that people will get spoiled, so to say, by the huge appreciation of the value of their Bitcoin savings. This will eventually lead to disappointment.

Right now, nobody uses bitcoins for savings - they are used as a speculative investment with huge get-rich-fast expectations. It has to end, and when it does, there will be whining and crying by those who misunderstood what Bitcoin is.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
dirtycat
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March 26, 2013, 04:40:06 AM
 #28

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Without the internet, tech and electrical power, bitcoin modern society can not function.


+1

What will you do with your gold if we lose electrical power and the internet shuts down?

trade it for goods.. believe it or not humans have done this for quite some time before we have had electricity.
if I get enough of it for selling my goods I will build a giant pyramid and make myself a sarcophagus out of it.

gold is awesome!

poop!
Tirapon
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March 26, 2013, 04:55:32 AM
 #29

I think we'll have bigger things to worry about than finance if there's some sort of solar flare/worldwide blackout situation. I mean seriously, all of the whole entire internetz wiped out? Sure, gold would probably fall back into place as the standard accepted store of value, but within the avergage human lifetime I think you'd be better off investing in guns and rations.
btcbug
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March 26, 2013, 04:59:08 AM
 #30

Quote
Without the internet, tech and electrical power, bitcoin modern society can not function.


+1

What will you do with your gold if we lose electrical power and the internet shuts down?

trade it for goods.. believe it or not humans have done this for quite some time before we have had electricity.
if I get enough of it for selling my goods I will build a giant pyramid and make myself a sarcophagus out of it.

gold is awesome!


Yes, I would say the same thing. Gold has been around and used as money a long time before electricity. Do you guys think if the power goes out the world completely ceases to exist? Sure it would be unimaginably chaotic I'm sure, but once the dust settled Gold would possibly resume its role as money wouldn't it? It's hard to imagine this scenario, but diversification is all about imagining different outcomes and planning accordingly so that you're safe no matter what happens.
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March 26, 2013, 05:01:38 AM
 #31

How long do you think the dust would take to settle?
dirtycat
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March 26, 2013, 05:12:21 AM
 #32

I think we'll have bigger things to worry about than finance if there's some sort of solar flare/worldwide blackout situation. I mean seriously, all of the whole entire internetz wiped out? Sure, gold would probably fall back into place as the standard accepted store of value, but within the avergage human lifetime I think you'd be better off investing in guns and rations.

doesn't have to be worldwide end of civilization type of scenario.. anything can take out power/internet in a large area for days/weeks/months.. severe storms, earthquakes, godzilla, giant tomatoes, huge rabbits.

poop!
Tirapon
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March 26, 2013, 05:16:30 AM
 #33

Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...
dirtycat
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March 26, 2013, 05:25:55 AM
 #34

Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...

sure but if I was in the affected area and you needed that great dildo I have for sale(non electric) I would laugh at your bitcoin.

poop!
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March 26, 2013, 05:28:51 AM
 #35

Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...
Unless they're at MtGox!

dirtycat
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March 26, 2013, 05:35:23 AM
 #36

Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...
Unless they're at MtGox!

see I didn't even catch that.. godzillas pinky toe crushes mtgox servers and all is lost.. price will go all wonky people will panic sell.. who knows what the price will be.  You may not even have enough coin to trade someone in your area for some gold so you can buy the dildo I have for sale.

poop!
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March 26, 2013, 05:45:57 AM
 #37

Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...

sure but if I was in the affected area and you needed that great dildo I have for sale(non electric) I would laugh at your bitcoin.

If you're in the affected area and I'm not, you can keep your dildo, you won't be having much fun other than that. What I'm trying to say is that the whole point of bitcoin is it's decentralised nature - It really would have to be a collapse of modern society for bitcoin to get wiped out (As for whether or not bitcoin truly is decentralised, well that's another debate.)

I mean, I'm in the UK. If we lose electrical power for a few months, there'll be chaos, but I'm sure the rest of Europe would step in to help out. Unless the rest of Europe was fucked (haha) in which case hopefully we'd get support from elsewhere? But this is scaling up pretty quickly - soon we'll run out of continents to 'step in and help out'. So I'm thinking in a situation where I find my bitcoins to be worthless the world over, I think worrying about conserving my wealth would be a bit of a lost cause.
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March 26, 2013, 05:48:42 AM
 #38

More optimistically of course, in a major situation such as the aforementioned, things would eventually recover - as would the value of my bitcoins.
dirtycat
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March 26, 2013, 05:53:09 AM
 #39

More optimistically of course, in a major situation such as the aforementioned, things would eventually recover - as would the value of my bitcoins.

until something better comes along.  Shocked

poop!
Tirapon
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March 26, 2013, 06:07:28 AM
 #40

More optimistically of course, in a major situation such as the aforementioned, things would eventually recover - as would the value of my bitcoins.

until something better comes along.  Shocked

What are you selling?  Wink
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