But what position will you be in if the US dollar collapses? Bitcoin may skyrocket to $1 million, and the cash you hold is now worthless, and you will be unable to recoup your loss. In my opinion, Bitcoin is going to end up being the worlds reserve currency. That's why Bill Gates, Paul allen and Richard Branson are holding on to theirs. Im not in a position financially to buy more bitcoin, but I feel like solo mining is the best route, even if the returns are small at first. Without mining- Bitcoin transactions cannot occur.
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Agreed. I however feel that equities have more huge upside; e.g.SPX to 3,000. The dollar is still the dominant currency. Can Bitcoin go there? Yes, but not now and for a while. The masses have not adopted yet. They shall, but not yet.
Also, I've got a bad feeling that the damn SEC is up to something on anti-Bitcoin. Not sure what exactly.
The fiats are more likely to stay and I believe there can and might be a commingled existence between fiat and cryptos.
I've seen people go bankrupt. However, it took them years to finally file because so much credit was available.
The fiat system has Central Banks and they can service debts up to $100 Trill and the current $20 Tril is nothing. This means don't yet underestimate the CBs and FIAT.
The above is why I buy and sell cryptos to slowwwlly amass it.
I have over 6 Billion Zimbabwe dollars, in 200 million dollar notes, and some old Wiemar Republic notes from Germany worth 50 million Deutche Mark, and they are printed with ink on only one side, to save money on ink. The same thing could, and will, eventually happen to the US dollar- Because fractional lending and printing money out of thin air all leads to the same consequence. The US dollar should be backed by gold or Bitcoin- and there is a rumor of Fedcoin- but it has mainly been scrubbed from the net. My opinion is that the US Federal government is going to sit back and watch how things develop and evolve- and watch how the cryptocurrencies solve their issues with scaling and theft- and then swoop in exactly like they did with Napster and KimDotCom. Napster ended up with less than zero- yet everyone download music and KimDotCom had his New Zealand palace raided for- Developing a better way to stream videos and data on the internet. Im sure the various Federal Law enforcement agencies will use Bitcoin, et-al to cover their various Black ops activities as well.
As Andreas Antonopoulos would say: "Goat shit burns longer" which is why Zimbabwe didn't burn the money.
They sell it on ebay, to numismatics like myself.
meep
I feel you, meep. You just cant comprehend the amount of fun you can have in Febuary- Black History month- with a $200,000,000 Zimbabwe dollar note at a burger king drive thru- and telling the black casher that if she doent give you your 2 for one whoppers and change back that she is racist. And then the manager gets involved, and they discover its real money- from Zimbabwe- and I show them the watermarks and security thread. And they think they are going to be rich, when I tell them they can keep the change, if they give me a long list of crap on the menu- and they comply and jump up and down. And I leave, knowing that the $200,000,000 Zimbabwe bank note only cost me 13 cents US$. Now say meep if you want to ride with to burger king next Febuary. All the whoppers you can eat. 2 meeps= yes one meep = no.
meep