The value of 1 whole coin goes up. This in turn means you need fewer amounts of a coin to purchase things. Just like gold, the price goes up when supply is short. When new supply is added (mined), the value goes down slightly. As time goes on, there is less and less available to mine until eventually all of it is mined. At that point, 1 ounce of gold could be worth $100k, which means buying a house would take 2 ouncesof gold. It's not as if the gold is useless when all of it is mined right?
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
Doing that now as I don't trust any exchange sites. Even the founder of Bitcoin said these exchanges which have the power to lock you out (happened to me) or get hacked are the very thing we were trying to combat.
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT
The test you're referring to is likely the Starfish Prime test conducted by the United States in 1962. This was a 1.4 megaton nuclear explosion detonated 400 kilometers above the Pacific Ocean, near Hawaii. The EMP from this test caused disruptions to electrical systems over 1,400 kilometers away, including damage to satellites and electrical infrastructure in Hawaii, but it was far from global in impact.To affect the entire planet with an EMP would require a massive and highly coordinated series of detonations, far beyond our current capabilities.
Catsfive, I understand that part of the EMP process. But what happens to me, as an individual sitting in my house. The power goes out and within a fifty mile radius of the blast there will be no electricity. How will I get my bitcoin? Will I have to get outside of the area affected and get on someone elses computer to move my bitcoin around? If I had a pocket full of greenbacks during the EMP and afterwards I could use them to purchase items or hire individuals. With no computer services available I'm SOL if I need to purchase something. There is the flaw in the bitcoin system as I see it. Now, having bitcoin as the "fiat currency" of the US, I'm OK with that idea. It's just during eletrical outages that will have a harmful effect on this form of money.
I'd say that the ideal solution would be crypto for online, gold/silver coins for physical.
I like physical and don't want to see it go away where it works, but crypto is ideal for transferring money long distances instantly, which is important for online money transfer of any kind, whether purchasing something or doing business online.
So if someone did more local than online they could have a higher ratio of physical money, whereas if they did more online than local they could have a higher ratio of crypto, with a physical stash in case shit hits the fan.
You can hold your bitcoin wallet on a piece of paper.
You can exchange that piece of paper with someone willing to travel the 50 miles where there’s electricity to cash in the bitcoin.
It’s no different than gold or silver. Anyone in that area will only accept it if they are willing to transport it to wherever they need to go to exchange it into fiat or whatever else they want.
If it's finite, what happens when it runs out?
The value of 1 whole coin goes up. This in turn means you need fewer amounts of a coin to purchase things. Just like gold, the price goes up when supply is short. When new supply is added (mined), the value goes down slightly. As time goes on, there is less and less available to mine until eventually all of it is mined. At that point, 1 ounce of gold could be worth $100k, which means buying a house would take 2 ouncesof gold. It's not as if the gold is useless when all of it is mined right?
What happens when the central banks use their artificial money to purchase majority of these artificial coins?
Soros, Rothschilds, etc already have infinite money. There's a reason they can't just purchase majority of major coins
EP 13848
Yes, the cabal used to have infinite money…past tense
I'm wondering what happens when the electricity stops. With paper you can spend it even in the dark. With crypto once an EMP hit everybody holding crypto is royally screwed. How are we gonna get our bits of coin out of a computer when it turns into a desk sitting brick?
Buddy...an EMP will completely destroy every aspect of your livelihood. Bitcoin is the LEAST of your worries.
And bullets will matter more than gold or silver then anyway.
Precious metals
Silver
Gold
LEAD
Honest question, why was gold and silver important before electricity, but not after?
AND I HAVE PLENTY OF BOTH...TMYK!!!!!!
cold storage solutions with EMF bag
Doing that now as I don't trust any exchange sites. Even the founder of Bitcoin said these exchanges which have the power to lock you out (happened to me) or get hacked are the very thing we were trying to combat.
There is no satoshi
Ya Coinbase had issues in the past locking people out. I’m waiting for defiant ones exchange to launch
An EMP doesn't just take out the entire planet. It would be still very localized and would only take out everything in a round cone shape beneath the EMP detonation. It would not neutralize the entire planet all at once.
In the 60s the government tested this with I think something like a 3 Megaton blast near hawaii, and it caused quite a bit of havoc but, and EMP capable of taking out the whole planet would be many times larger than the largest nuclear weapon we have ever created.
Edit: i asked GPT
Catsfive, I understand that part of the EMP process. But what happens to me, as an individual sitting in my house. The power goes out and within a fifty mile radius of the blast there will be no electricity. How will I get my bitcoin? Will I have to get outside of the area affected and get on someone elses computer to move my bitcoin around? If I had a pocket full of greenbacks during the EMP and afterwards I could use them to purchase items or hire individuals. With no computer services available I'm SOL if I need to purchase something. There is the flaw in the bitcoin system as I see it. Now, having bitcoin as the "fiat currency" of the US, I'm OK with that idea. It's just during eletrical outages that will have a harmful effect on this form of money.
I'd say that the ideal solution would be crypto for online, gold/silver coins for physical.
I like physical and don't want to see it go away where it works, but crypto is ideal for transferring money long distances instantly, which is important for online money transfer of any kind, whether purchasing something or doing business online.
So if someone did more local than online they could have a higher ratio of physical money, whereas if they did more online than local they could have a higher ratio of crypto, with a physical stash in case shit hits the fan.
There is physical bitcoin… coins.
You can hold your bitcoin wallet on a piece of paper.
You can exchange that piece of paper with someone willing to travel the 50 miles where there’s electricity to cash in the bitcoin.
It’s no different than gold or silver. Anyone in that area will only accept it if they are willing to transport it to wherever they need to go to exchange it into fiat or whatever else they want.
Imagine trying to price gold or silver, let alone confirm the metal quality. The argument of "if the whole grid goes down, what next?" is a bit silly
Just a suggestion, Generac generator and Starlink.
It would need to disable every computer in the block chain at once, if that happens then little else will matter