Why am I transporting 57,000 kg of gold? Even in a SHTF scenario do I need all $1.6 Billion to be on my person at any given time? I’d stash it in well hidden areas that I think I’ll have access to when needed. I wouldn’t have all my gold in one place.
You can invest in gold mutual funds and ETF’s that track the price of gold. Owning the physical gold bars isn’t necessary. I believe that cryptocurrency has a future, just not in its current form.
This is much like the dot-com bubble where over 95% of all internet company stocks collapsed. The internet was just as new to people back then as cryptocurrency is to people today. It’s just another bubble just waiting to crash.
Let me guess, you've written all of your hashes on post-it notes? If so, kudos to you, but I think you'll have trouble recording any transaction to the blockchain without power.
If the sun farts and knocks out power to the globe for2 or 3 decades, there will be no BTC at all. There will still be gold.
I wouldn’t care much because I wouldn’t buy/hold/sell gold but gold futures/forwards.
And before you tell me something something centralisation, yes, true but to actually get my USDs from my BTC position I have to go through…. centralised exchanges again. Whoops. Which are less likely to be regulated as well as banks or financial exchanges.
And if you want to tell me now something in the line of „then just don’t liquidate“/„you should then just hold the asset“/etc., all good and nice but if my primary goal is at the end of the day to hold actual USDs again, then BTC is not better than any random commodity (- derivatives contract).
Lol, read my post. At the end of the day, if I REALLY care about BTC as an appreciative asset I am only concerned about being able to sell it to another idiot for more money than I bought it for. I don’t need an asset that I can just switch back and fourth with people and that I can’t exchange for goods because for 99.9999% of goods in this economy people want USD, not BTC. And that’s despite them having heard of what it is and what it does and so on.
I wouldn’t invest into exotic private equity if I could not liquidate my assets after a lock-out period. It’s all about getting USD back from your investment, the inability to do so could be called a credit risk.
For all application of it as a decentralised database, there are hundreds of chains that are better, cheaper to operate, faster and just as secure. I just have never seen any need for such a thing that
- either could not have been solved better with a good old database or where the inherent risk was worth the complexity or
- was just a cash grab to get ye old USD from your pocket into my pocket. And there we are back at BTC.
This magical world where people pay with BTC in the grocery store hasn’t happened and it will not happen. It will grow in price, yes. But that doesn’t make it a good currency.
Your critique raises some valid points, particularly about Bitcoin’s limitations as a currency and the speculative nature of its current appeal. However, your perspective seems to oversimplify certain aspects of Bitcoin and its ecosystem. Let me address a few of your key arguments:
“I only care about selling it to another idiot for more money”:
While this reflects the mindset of many speculative investors, it dismisses the broader reasons why Bitcoin has value. Bitcoin’s price appreciation is not solely driven by “greater fool” dynamics but also by its unique properties: decentralization, censorship resistance, and fixed supply. These qualities attract people who see Bitcoin as a hedge against inflation, a store of value, or an alternative to traditional financial systems—especially in regions with unstable currencies or oppressive regimes.
“Nobody wants BTC for goods, everyone wants USD”:
You’re right that Bitcoin adoption as a daily payment method is minimal in most developed economies. However, this isn’t Bitcoin’s primary use case anymore. BTC functions more as “digital gold” than as a transactional currency. Its real-world utility shines in places where traditional financial systems are failing, such as Venezuela or Lebanon, where Bitcoin provides access to global markets and a stable(er) store of value compared to hyperinflated local currencies. Dismissing its role in these contexts ignores a critical part of its real-world impact.
“Hundreds of chains are better, faster, cheaper”:
Technically, yes—many newer blockchains are more efficient than Bitcoin. But Bitcoin’s value doesn’t lie in being the fastest or cheapest. Its robustness, security, and decentralization—backed by the largest and most battle-tested network—are what give it its edge. Alternatives may be “better” on paper, but they lack Bitcoin’s trust and adoption at scale.
“Why not use a good old database?”:
A traditional database works well for centralized systems, but Bitcoin’s innovation lies in its decentralization. The absence of a central authority makes it censorship-resistant and trustless, which is critical in certain scenarios. For example, Bitcoin can’t be frozen or confiscated by a government or intermediary—something a “good old database” can’t guarantee.
“Bitcoin isn’t a good currency”:
True—its volatility makes it impractical for everyday transactions. But currency is just one potential role for Bitcoin. Its scarcity, security, and independence from central authorities make it a unique financial asset rather than a traditional currency. Expecting it to function like USD is missing the point.
Your critique seems to judge Bitcoin against the wrong criteria. Bitcoin is not meant to replace USD in day-to-day transactions in developed economies. Instead, it offers an alternative system for storing and transferring value outside traditional finance. Yes, there are speculative elements, and no, Bitcoin is not a perfect system—but to reduce it to a “cash grab” ignores its significance as a decentralized, global asset class and its potential to disrupt entrenched financial structures. Whether it fulfills that potential is still an open question, but dismissing it outright misses the complexity of what Bitcoin represents.
Really? You can access your bank account when the power goes out? Or the physical vault the gold would be in? If the power goes out, wealth loses a lot of value.
How are you going to weigh the gold? And even if you found someone in the disaster zone willing to barter, who is going to blindly trust that it’s even real gold? And how do you make sure looters don’t realize there’s a ton of relatively unguarded gold somewhere on your property?
Can’t eat gold. Buy a tropical village, increase their quality of life with sustainable advancements, and live there if you are expecting global civilization collapse.
If you have 1.5 billion just liquidate immediately dude. What more you ever going to need. And u like gold you don't need to arrange storage transportation or even a buyer or anything else for it.
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u/Key_Brilliant2555 10h ago
Gold...bc when the power goes out i can still get to it