Not strictly true. This has been tried before in places like Serbia during the civil war. Even in total societal breakdown, gold and silver retain their value while fiat turns near worthless overnight. You can get anything you want: food, weapons, ammo, medicine, hygiene products, a helicopter ride out, etc, if you have gold. Granted, being able to defend yourself is a prerequisite to trading in such a situation, but gold is the ultimate store of value.
It would probably be down for 4 or 5 days. If we enter a new caveman age, paper money would be just as useless. So hold some crpto because there are people in the world that need to make cross border payments which you can't do with silver. So it all has its use. A bag of rice is good to have, some bullets, some crpto, some precious metals.
Can someone explain to me how Crypto of any sort is not a digital currency? What is it tangibly backed by?
Ask them how to spend it when the power or Internet is down. Can't wait to see all the BC bro's trying to barter useless BC for food.
Your coins wouldn't matter either, only bullets would.
Not strictly true. This has been tried before in places like Serbia during the civil war. Even in total societal breakdown, gold and silver retain their value while fiat turns near worthless overnight. You can get anything you want: food, weapons, ammo, medicine, hygiene products, a helicopter ride out, etc, if you have gold. Granted, being able to defend yourself is a prerequisite to trading in such a situation, but gold is the ultimate store of value.
It would probably be down for 4 or 5 days. If we enter a new caveman age, paper money would be just as useless. So hold some crpto because there are people in the world that need to make cross border payments which you can't do with silver. So it all has its use. A bag of rice is good to have, some bullets, some crpto, some precious metals.