In an Economic Collapse, BTC will not save you.
Many times over the last few weeks, I have been caught up in some heated discussions about bitcoin and a possible global economic collapse. I have also been reading some punchy claims that BTC will be the only currency that will matter during such dreadful times.
While I am not a professional investment broker, and my career in this industry isn't going on 20 years, but rather 20 weeks. I do however have a rather intelligent mind, and I know a little something about the history of currencies and the reality of a true economic collapse of doomish proportions, in the historical sense. That said, the mere implication that one could survive such times with BTC as the savior of your economic situation, is 100% impossible.
Let's be honest. Bitcoin is only worth what it's worth, in fiat currencies. On its own, without exchanging it for dollars, BTC is just a digital asset and nothing else. It is not an obtainable material object and would hold ZERO value during an economic break.
To suggest otherwise is moronic and undeniably false.
The ONLY currency in this world that would hold any true value during such times are the big three.
Gold. Silver and Copper.
Gold being the #1 asset of value, with silver a few leagues behind and copper as a beggars dime. Plain and simple.
Throughout history, Gold has and always will be the one true wealth security of all time. Proven many times over, Gold will be the only obtainable currency of value during deep economic depressions and broken economies.
If WW3 happened tommorrow, and the entire world's governments shut down, and the USD went to ruin and all economies fell flat, Bitcoin would be completely worthless.
Why? Simple answer...
What are you going to trade BTC for? Who would take your now completely worthless coin? Nobody. Not even for a shilling of horse dookie. Plain and simple fact, even if you were a BTC billionaire, you would be completely broke. There wouldn't be a way to trade it and there wouldn't be anything to hand over. Bitcoin would be impossible to leverage, even for a spoonful of dirt.
Yes, even if bitcoin ran all the way to $150,000.00 per coin, it would be worth 0 in an economic crisis.
The ONLY real currency of value would be gold and silver. Proof of which can be read about in history records. Get this, a single beer was worth 2 million Marx after WW2. A pound of beef was 12 million. But a sliver of gold could buy you an entire city block of rumble and empty dwellings. A sliver of gold could buy you 3 head of cattle. When I say sliver, I literally mean a sliver. Men would carry wire cutters and a gold coin would be pie cut into multiple small slivers and used to trade for food, water and shelter. Not to mention homes, land, and anything and everything. In fact, I've read about people actually trading .05 grams of gold for millions of dollars worth of property after WW2, just because that small sliver could feed someone else's family for a month. People would trade anything to eat and since gold was the currency of the time, they would literally handover all they could trade for enough gold to buy the most simplistic necessities.
Gold has a value and during hardships, that value can be multiplied 1000s of times over.
Bitcoin? Not so much.
It is more possible that you would trade 100 bitcoin for a sliver of 0.05 grams of gold to feed yourself or move your family somewhere safe.
Many people don't grasp this truth and simply believe that BTC would be a currency of value during economic dread, when in fact, unfortunately, it would be completely and utterly worthless.