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.
This is why you invest in your own PM test kit. Nothing online is going to confirm "metal quality". The only exception would be checking numismatic value and that's moot if the SHTF.
There's still no good answer if the power goes out... crypto will be worth precisely dick if you can't get online to use it. Farmers aren't taking crypto... so make sure you've got your own food and enough lead to defend it first.
PM isn't for SHTF... it's for after when you have to pick up the broken pieces and start over again.
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
This is why you invest in your own PM test kit. Nothing online is going to confirm "metal quality". The only exception would be checking numismatic value and that's moot if the SHTF.
There's still no good answer if the power goes out... crypto will be worth precisely dick if you can't get online to use it. Farmers aren't taking crypto... so make sure you've got your own food and enough lead to defend it first.
PM isn't for SHTF... it's for after when you have to pick up the broken pieces and start over again.
Just a suggestion, Generac generator and Starlink.