patrick.net

It's valuable because it's difficult to get, and useful for money laundering.

But it all depends on no one being able to reverse the hash function it uses. Complicated to explain, but a breakthrough in quantum computing could make all Bitcoin worthless overnight.

Bitcoin is shit. You can't eat a bitcoin.

You can eat gold - it just comes back out your butt after a day or so.

Also, if the world ends, you can't do anything with a bitcoin. You can take gold and beat it flat to make a solar mirror to cook your yams and face stew.

stereotomy says

Bitcoin is shit. You can't eat a bitcoin.

You can eat gold - it just comes back out your but after a day or so.

Also, if the world ends, you can't do anything with a bitcoin. You can take gold and beat it flat to make a solar mirror to cook your yams and face stew.

I see your point as far as utilitarian function of precious metals such as during an apocalypse era. Melt down the precious metals to make for a Civil War style rifle.

I guess invest in alternative assets (gold, silver, Bitcoin, etc) as far as up to 20% of savings as a hedge for fiat currency but not for preparing to be a survivalist or extreme homesteader.

I agree as alternative assets will be of no use during the +25 years of society trying to recover from an apocalypse event, so bullets, water, medicine kits, shelter, canned food, fishing gear, potato seeds, and trusted family and friends are invaluable, not gold coins.

AD says

I agree as alternative assets will be of no use during the +25 years of society trying to recover from an apocalypse event, so bullets, water, medicine kits, shelter, canned food, fishing gear, potato seeds, and trusted family and friends are invaluable, not gold coins.

In that situation, tobacco and alcohol will likely be used as money.

Cigarettes were money in Germany after their defeat in WWII.

Patrick says

Cigarettes were money in Germany after their defeat in WWII.

Yes, women would put out for a pack of Patrick's.

Yes Bitcoin likely competed with precious metals from 2012 to 2025.

And precious metals are on a tear for about the last 12 months with silver up 272% and gold up 90%.

However, wealth managers are recommending to their clients that they 1 to 4% at least in Bitcoin. And traders may cash gains out in silver and rotate to Bitcoin.

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https://www.tradingview.com/news/cryptonews:67bac0d5c094b:0-dalio-u-s-nears-crisis-point-as-bitcoin-trapped-by-american-selling-pressure/

Ray Dalio warned the U.S. stands “on the brink” of transitioning from Stage 5 pre-breakdown to Stage 6 systemic collapse as Bitcoin is trading defensively at $88,000, trapped in a 60-day range by record institutional selling pressure from American counterparties.

The billionaire investor’s latest analysis of the “Big Cycle” coincides with Bitcoin’s failure to live up to its “digital gold” narrative, while traditional safe havens surge to all-time highs.

There are about 1 million Bitcoin to mine over next 105 years to reach the limit of 21 million Bitcoins.

So 20 million coins now in circulation at $89,000 each and the market cap is about $1.78 trillion.

The household net worth (stocks, home equity, etc) of Americans totals $167 trillion.

So if the world had 1% of its $454 trillion in wealth in Bitcoin that would be $4.54 trillion.

https://bitbo.io/news/david-marcus-bitcoin-1-5m/

Former PayPal President David Marcus has made a bold prediction that Bitcoin should reach a price of $1.5 million. Marcus expressed confidence in this forecast, stating, "That's going to happen." His comments add to the ongoing debate about Bitcoin's future valuation, as the cryptocurrency continues to attract attention from investors and financial experts alike.