Earlier than you merely learn the title and depart a snarky remark and a downvote, hear me out.
Let me say that I personal lots of bitcoin and valuable metals as that’s a part of my enterprise.
There lately was a submit knocking Peter Schiff (as soon as once more lol), and one of many feedback talked about Peter’s dad Irwin and the authorized battles he had (and misplaced) with the IRS, and the way he in the end suffered and died from principally untreated most cancers throughout his final incarceration. The poster thought that was humorous.
Dwelling by means of that injustice drove Peter into escaping authorities management by shifting to the tax haven Puerto Rico and making a financial institution and a enterprise based mostly on preventing the USD fiat dominance utilizing gold and silver, which had been the ONLY choices again then and certainly they had been and nonetheless are a hedge in opposition to fiat inflation. So please forgive him if he cannot make the leap to comprehending that there isn’t any worth in one thing that can’t be held within the hand, which brings me to to the thesis of my title.
If you’re a long-term hodler of bitcoin as I’m and take into consideration what bitcoin is, which is cryptographic numbers on an immutable digital ledger supported ONLY by the vitality it takes to hash blocks and confirm transactions, and you might be sincere with your self you’ll notice that it’s only the mixed belief of all bitcoin holders, giant and small that retains bitcoin alive and effectively. Take away that belief, or take away the vitality wanted to maintain the blockchain and now we have an issue Houston.
The presumption of limitless vitality is the Achilles heel of bitcoin and cryptocurrency normally. If we attain peak vitality or governments manufacture local weather change FUD, driving up vitality prices and triggering rolling blackouts to “save the planet”, and so on. crypto can be the very first thing to go, the hidden agenda being the elite’s concern of dropping the greenback denominated world they presently management.
Nevertheless small, there’s a risk this might occur which is why I hedge with gold, silver, meals, water, weapons and ammo, and so on., in an try to hold me and mine as protected as doable in virtually any state of affairs.
I’m not suggesting that you simply promote your BTC to purchase gold and silver, however maybe there’s room in your pockets to organize for different eventualities as all of us do in each different space of life equivalent to purchase insurance coverage, see docs and dentists, ship our youngsters to school, and so on.