Real estate is only valuable if people can afford to rent it. Bitcoin is already wildly price-manipulated by bots, true market value iimpossible to determine. In an economy crunch currencies universally suffer because they represent a medium of exchange only. Bitcoin especially so: it's a pure algorithmic abstraction of fiat value, worth literally nothing except that which both parties in a transaction agree upon. Best way IMO: reduce your dependencies, rational-prepper style, and reduce your attack surface when the debts are called. Pay off debt now, buy insulation, solar panels. Learn a lot of DIY to maintain your lifestyle if you can't afford to pay others to do so. Learn a valuable skill in a future market crunch: hint, programming and encryption probably don't count much in case of total economic collapse. Bear in mind that this isn't gonna happen quickly if it happens. It'll be slow, stepwise. Economic catastrophies every 5 years or so, progressively making the world a little shitter every time. The frantic dead-cat-bounce each time will be.more brittle and more loudly celebrated. Sound familiar? :) The winning play, though by far the hardest, is to create an economic enclave that conserves local value and builds community resilience. Local currency would be cool, along with robust local mesh networking and local communication / broadcast media. Goal: when money outside your community declines, your currency exchange value can just change to compensate and thereby encourage local purchasing and export. So, do we need an "economy in a box"; buy 100 cheap mesh networking boxes (black-swift.net?), burn in currency/message exchange software, install in local houses, distribute localised "economy in a box" apps to locals? It's something I'd love to see. On 5 October 2015 09:51:19 IST, Georgi Guninski <guninski@guninski.com> wrote:
The financial situation in the usa is quite grave.
Assume very severe financial crisis hits the usa relatively soon causing hyperinflation there and possibly in other countries.
I am interested: How to minimize one's damage in this situation?
Some suspicions: Banks/exchanges are known Ponzi schemes, so how much the banking system will remain intact is unclear to me.
Some possibilities real estate outside usa gold (is gold certificate secure enough?) bitcoins (some people got burnt, security of bitcoins not clear to me) ???
Please post political rants in other thread.
-- Sent from my Android device with K-9 Mail. Please excuse my brevity.