Bronn from Game of Thrones on the value of Bitcoins.

[Walsoraj]

"Bronn: Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes."

Gold and bitcoin will function similarly in apocalyptic scenarios. If the US defaults and the shit really hits the fan (personally doubt it), your precious bitcoins will be worthless when trying to purchase basic necessities like food.

I am right, you are wrong. Capitulate!

 

[Birdy]

It depends on how much things go down the road, when it's apocalyptic better have food and weapons prepared.
If it's just really bad, gold and bitcoins are a good idea.

I think a government default would be the later one.

But +1 for quoting Game of Thrones

[Operatr]

Bitcoin has one problem in that it requires power and Internet to function. In a post-Dollar scenario lets say, there is a good chance the grid goes down. If US dollars are suddenly worthless, all businesses would stop working, and commerce would shut down. Currency then would be whatever has barter value.

Digital currencies are not holding nearly enough of the economy as a failsafe against major currency collapses (globally), and the things that Bitcoin requires may not be operational again for a while.

Plus if there is no more Dollar exchange, a Bitcoin will only be worth what a Bitcoin can buy

Though I hope that because of Bitcoins open source  nature and ease of adoption using existing technology, that it may surprise us with how fast we could move to a new economic system. Though not without some amount of pain either way.

Hold Bitcoin, maybe some precious metals, and also stock up your pantry and make sure you have emergency supplies for a prolonged blackout. Prepare for all scenarios, as it is impossible to predict what happens next.

[telemaco]

"Bronn: Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes."

Gold and bitcoin will function similarly in apocalyptic scenarios. If the US defaults and the shit really hits the fan (personally doubt it), your precious bitcoins will be worthless when trying to purchase basic necessities like food.

I am right, you are wrong. Capitulate!

 

Walsoraj, Bitcoin world has already thought on that issue. You can actually purchase bitcoin food specially designed for those situations.

This is going to the oort cloud

[samson]

Bitcoin has one problem in that it requires power and Internet to function. In a post-Dollar scenario lets say, there is a good chance the grid goes down. If US dollars are suddenly worthless, all businesses would stop working, and commerce would shut down. Currency then would be whatever has barter value.

Only in the US, lets remember that the rest of the world will continue to work even if the US goes to hell.

[galbros]

Right, this is the classic argument that if things really go to crap that you want canned tuna and ammo.  No doubt about that.

[byronbb]

Planning for a sub 1% possibility is a waste of time and money. People have been calling for the end of the world forever.

[Walsoraj]

Planning for a sub 1% possibility is a waste of time and money. People have been calling for the end of the world forever.

Someone will get it right, eventually.

[telemaco]

Right, this is the classic argument that if things really go to crap that you want canned tuna and ammo.  No doubt about that.

after fukushima avoid tuna

[randrace]

Bitcoin has one problem in that it requires power and Internet to function. In a post-Dollar scenario lets say, there is a good chance the grid goes down. If US dollars are suddenly worthless, all businesses would stop working, and commerce would shut down. Currency then would be whatever has barter value.

Only in the US, lets remember that the rest of the world will continue to work even if the US goes to hell.

uhhh...

[foggyb]

Planning for a sub 1% possibility is a waste of time and money. People have been calling for the end of the world forever.

Insurance policies are such a waste of time and money.