Saw a story a few weeks ago about a restaurant downtown Toronto who was starting to take bitcoin as payment. Reporter asked the owner.. "aren't you afraid that the payment you took will be worthless and you will lose your moey?". Store owner repsonded that the next morning Bitcoin value went up so in fact he 'made' money!
My take on the story? Guess what? This guy just took an alternate form of payment that could not be traced by CRA! Hmmmmm..... have I seen something like this before? Oh yes! I have ! It was called the 'Barter Network' back in t the 80's!! People would barter goods and services and account for their purchase/sales through a company set up to mamage the 'barter network'. Guess what? CRA stepped in and it came crashing down! Same thing will happen with Bitcoin. Eventually when it becomes so pervasive that the government feels that they are losing significant revenue, it will be game over folks !!
On the other hand, being a prepper I would NEVER put my assets into something that requires electricity and the internet!! Yes, I may have 'investments' but that is all RRSP and pension momey. Once I am of age that I can pull that money out... OUT IT COMES BABY !!
I was (un)fortunate to be in Europe 3 years ago when the financial world shut down in this little country called Greece. Guess what happened? NOBODY could get their money! Now you may say that will never happen here but you are a fool to thing that because it has happened 3 times in the last 100 years here in Canada/USA. Just like when the government stepped in ( a couple times over the last 100 years) and made it ILLEGAL to own GOLD!! Yes it has happened here folks and a simple google search will uncover these facts.
Then we have something that very few people have seen/realized though it just happened recently to Turkey. Called a bank 'bail'in' . You've all heard about 'bail-outs'. Anyone know what a 'bail-in' is? That's when the government steps and and says 'hey good citizen, that $700,000 you have int he bank? well now you have $100,000 because we are appropriating the rest of it!" . You think I 'm shitting you? Read online what happened to banks in Turkey in 2016!
So if I can't touch it, it's not mine ! Anything electronic or on paper is dust in the wind my friends! If you can convert it to hard cash, silver, gold, platinum (I would have said diamonds but now that they are making even better diamonds in the lab then are being naturally produced, that market is on it's way out too), then it's still just wealth on paper and will mean nothing during the next blackout! The only things that the banks have of mine is my debt!!!
