To Bitcoin or Not to Bitcoin

To Bitcoin or Not to Bitcoin

By Kiewiet | Bitcoin and other | 27 Aug 2020


Gold made illegal

These are very confusing times and we hear from various crackpots as well as known analysts that the markets are going to crash, the banks and financial system collapsed in Dec 2019, etc. They are telling us to buy gold, silver and Bitcoin.

Bitcoin

Bitcoin is all good and well and I am also invested in it. My question is what will happen when governments take control of Bitcoin?

Gold & Silver

Look what happened way back on April 5, 1933 when Roosevelt declared all privately owned gold illegal. Will this happen again? If so, then is Bitcoin the alternative? My problem with gold is that when fiat crashes and gold takes over as a trading mechanism, then how will you trade it? Will you bite off a chunk every time to trade for something else? Also, will you hire an army to protect your gold that you own, because as soon as someone finds out that you have gold, they will come for you.

Cash

Cash is dead and it will become worthless overnight pretty soon when the financial market finally collapses. It has happened 3 times in the past where fiat has corrected itself and the 4th is due now.

What to do?

My opinion, right now, is to play the game along with the times and be very aware of what is happening out there. There is an old financial saying that if the secretary knows about it, then it is too late. So, get Bitcoin, but you will have to sell at exactly the right time.

 

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Kiewiet
Kiewiet

Software Developer. Retro gamer.


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