It doesnt even have to be widespread. Being cut off from electricity and/or communications even over a 100 mile radius, makes it awfully hard to use your assets to acquire the things you need in that area.
It also relies on others seeing inherent value in it and agreeing to use it as a means of trade.
It is though, just like anything else, being worth what people are willing to pay for it.
The generation of BTC requires massive amounts of electricity consumption. Even historically. Unsustainable amounts of electricity. Storage electricity may be cheaper and near non existent in cold storage. But it still requires that electricity and communication capability to perform transactions as a means of trade currency.
Fiat (for now at least) and metals are physical and do not require electricity to just merely exist..
Not sure what more I can say. Good luck, hope the lights stay on and everyone adopts it as a means of trade for ya.
Let me put it this way... Just dont put all your eggs in one basket.
It doesnt even have to be widespread. Being cut off from electricity and/or communications even over a 100 mile radius, makes it awfully hard to use your assets to acquire the things you need in that area.
It also relies on others seeing inherent value in it and agreeing to use it as a means of trade.
It is though, just like anything else, being worth what people are willing to pay for it.
The generation of BTC requires massive amounts of electricity consumption. Even historically. Unsustainable amounts of electricity. Storage electricity may be cheaper and near non existent in cold storage. But it still requires that electricity and communication capability to perform transactions as a means of trade currency.
Fiat (for now at least) and metals are physical and do not require electricity to just merely exist..
Not sure what more I can say. Good luck, hope the lights stay on and everyone adopts it as a means of trade for ya.
It doesnt even have to be widespread. Being cut off from electricity and communications even over a 100 mile radius, makes it awfully hard to use your assets to acquire the things you need in that area.
It also relies on others seeing inherent value in it and agreeing to use it as a means of trade.
It is though, just like anything else, being worth what people are willing to pay for it.
The generation of BTC requires massive amounts of electricity consumption. Even historically. Unsustainable amounts of electricity. Storage electricity may be cheaper and near non existent in cold storage. But it still requires that electricity and communication capability to perform transactions as a means of trade currency.
Fiat (for now at least) and metals are physical and do not require electricity to just merely exist..
Not sure what more I can say. Good luck, hope the lights stay on and everyone adopts it as a means of trade for ya.