Haha, Bass guessed like all the rest after having made a name in 2008-09(I like him fine) and since then has come up goose eggs on every single prediction he has made (Japan, nickels, China, etc).tim wrote: ↑Thu Feb 25, 2021 5:24 pmI don't understand the value of bitcoin unless you are in the top 1% of the rich or already have many years of supplies and food.Cool Breeze wrote: ↑Wed Feb 24, 2021 10:35 pmThe best question so far has been "what if the internet is shut down" = the whole world is in a world of trouble, including all the elites with all of their "digital" paper and derivatives that they "own." So if that's the best you can do, you might as well tell people to give up entirely on working because their fake dollars and other investments won't matter, either.
Why would somebody want to keep wealth in bitcoin, which doesn't exist outside of the digital world, instead of investing in 5+ years of food that will store for over 30 years? What was the value of bitcoin to those people who literally froze to death in Texas? What will bitcoin matter when you go to the grocery store and there is no food and nobody knows when more food will be coming?
Show me how you will use bitcoin as a currency when the grid goes down. Do you think you will be trading bitcoins for canned food with your neighbors?
In the long run I think all currencies will fail, but I like Kyle Bass and his nickel investment idea the most. The nickel has had more value in the metal it is created from then the 5 cent face value. While you can't legally melt down the nickel for its metal value, it is an investment for the future.
Now if you already are fully stocked and could survive on your own without resupplying from civilization for 5+ years, dabble in all the bitcoin you want.
https://lfb.org/urgent-sell-everything-buy-nickels/
Fiat money, you see, does well in deflation. Unlike gold, nickels have government-mandated deflation protection. They’re still going to be worth five cents no matter what.
But at the same time, due to their metal makeup, they are protected should inflation kick in too.
Each nickel is made up of 75% copper and 25% nickel.
[Excluding some 1942-1945 nickels. Some of those dates were made with 35% silver when nickel was sorely needed for industrial war use. But those have all been but scooped up by collectors.]
The same factors that could driving the U.S. dollar to the floor are the same forces that will drive these metals up.
But what if the dollar remains strong? Let’s say, in some weird twist of fate, the economy becomes robust as ever.
Either way, it’s a win.
If the economy becomes weak, investors will migrate toward commodities to hedge against inflation. If the economy improves, demand of the metals will rise, boosting the prices.
But here’s the most interesting part…
Even with copper and nickel as cheap as they currently are, the metal value is still high enough to produce losses for the Mint.
It costs the Mint about $1.62 for every 20 nickels, or 8.09 cents for each nickel it currently produces.
If doomsday comes, why pick on Bitcoin? Like I said, pick on everything because nothing does you much good. Good luck lugging around a bunch of nickels to a new land that isn't crushed by fall out or has ruined water or land - whoops you didn't think of that. Why? Bitcoin is optimal for that and you hate BTC for no good reason.
if it doesn't come, or you are living in a safe area, you have multiple options when you see the other side of the world. It's not that hard to understand guys. Why do I have to keep repeating it? You have certainty on many things but have been wrong on many things already. I make % probabilities and map out the optimum expected value, since no one can predict the future. Shall I repeat all these things 10 more times, or do you understand now?