"if disaster strikes ..."
What kinds of "disaster" are possible and probable? Given that list, which
among them do not take down "cyberspace." ("Cyberspace is where your money is."
John Perry Barlow)
I know a lot of 'survivalists' and none of them would consider anything other
than than a Krugerrand under the mattress as a realistic hedge against disaster.
davew
On Thu, Apr 15, 2021, at 2:52 AM, Pieter Steenekamp wrote:
> " But I'd argue against storing value at all, anywhere "
> I assume you mean passive storing value like in fiat or crypto currency or
> for example art for the purpose of storing value.
> I agree with your sentiments, but I would not take it to the extreme. IMHO,
> to oil the wheels of productivity in society some storing of value in passive
> form is required. Like Tesla buying Bitcoin to store value. And I believe in
> personal responsibility, I want to store some of my value in liquid passive
> assets. I don't have any trust in fiat currency's ability to maintain its
> value for long periods, because governments all over the world are printing
> fiat money like there is no tomorrow. Maybe it's good, I don't have a clue,
> but I certainly don't think that's a good way to preserve the value of the
> currency for long periods. So, I choose to put a portion of my assets in
> Bitcoin. If disaster strikes and I need money in the future I don't want to
> necessarily sell off my stake in productive value storing (like a business,
> or shares in a company).
>
> On Thu, 15 Apr 2021 at 00:15, ⛧ glen <[email protected]> wrote:
>> This isn't what you asked for. But I'd argue against storing value at all,
>> anywhere. That's for 2 reasons: 1) often, not you or anyone here
>> necessarily, what people who think 'storing value' really want is *rent* ...
>> to make money without contributing productively. And 2) hoarding doesn't
>> imply value. Money contributes to the world by it's *movement*, by changing
>> hands. So a savings account or money market can (somewhat passively) help
>> the world more than burying cash in your yard. But *spending* money helps
>> the world in innumerable ways, especially when it's not to buy arbitrary
>> stuff, but to encourage others to do work ... like .... [cough] ... write
>> poetry or brew beer.
>>
>> On April 14, 2021 2:49:55 PM PDT, Pieter Steenekamp
>> <[email protected]> wrote:
>> >I am a strong supporter of Bitcoin. Sure there are negatives, it's not
>> >all
>> >just positive. There also are risks, Bitcoin could lose all it's value.
>> >The
>> >main reason why I support it is because it's probably one of the best
>> >ways
>> >to store value. With all the crazy printing of fiat currencies all
>> >around
>> >the world, is there a good argument that any fiat currency will keep
>> >it's
>> >value? I'd really like to listen to these arguments with an open mind.
>> >I'd
>> >also like to listen to arguments why any other way to store value is
>> >significantly better than Bitcoin.
>> >But, I'm not saying it's the only way to store value and I'm definitely
>> >not
>> >advocating to store all your value in Bitcoin. A portfolio where some
>> >portion, dependent on individual circumstances, is stored in Bitcoin is
>> >in
>> >my opinion very good.
>>
>> --
>> glen ⛧
>>
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