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Old 03-29-2020, 06:45 PM
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sierra skier sierra skier is online now
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Those with tangibles will still be viable. Gardens, solar, well and metals will still do what they are supposed to do.

Cryptos not so much.

I just have to give LoveLife something to defend since he does such a fine job answering every question. If you spent the time setting up the homestead you will be one of the survivors, at least for the time being.
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Old 03-30-2020, 07:01 AM
LoveLife LoveLife is offline
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Originally Posted by sierra skier View Post
Just wait until the internet or power goes out.

Makes plenty of sense.

My owned home will remain.
My PM will remain.
My privately held stock will remain.
My cash in hand will remain.

YOUR CRYPTOS??????????
I have preps as well...
but I have great faith in my crypto portfolio and trades.
Much more faith than I do with a scary stock market, a FED who is printing like crazy,
PMs/commodities in a deflationary environment, and real estate with millions of workers on unemployment.

If the grid goes down, my crypto is no worse off than your bank, ATM, credit cards, financial institutions..
who will all be locked down.
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Old 03-30-2020, 07:24 AM
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Originally Posted by sierra skier View Post
Those with tangibles will still be viable. Gardens, solar, well and metals will still do what they are supposed to do.

Cryptos not so much.

I just have to give LoveLife something to defend since he does such a fine job answering every question. If you spent the time setting up the homestead you will be one of the survivors, at least for the time being.
Appreciate the compliment.
People, myself included, like to defend the course of action that they have chosen.
Obviously every choice can be criticized. Everything and everyone has weaknesses.

Gold and other commodities are beloved by preppers, but they are underperforming in this environment of no inflation.
Look at copper, coal, silver, oil.
Real estate is going to be challenged by both the looming unemployment and the declining birth rate demographics.
Self sufficiency in a rural setting is an admirable goal, but being overrun by the masses is a very real threat in a crisis.
When the Walmart’s are emptied out, farms are next to be plundered.

But if we need to flee our rural homestead, crypto is the easiest way to transport our wealth
...and unlike gold, fiat, or solar panels, crypto is “gray man”.
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Old 03-30-2020, 07:52 AM
PalmettoTree PalmettoTree is offline
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Who are you and what have you done with PalmettoTree ?!

Money transfer capability?

yes, and:

Store of value
Unit of exchange
Petro dollar replacement
Asset tokenization
Deflationary limited supply
Micro transactions
Potential global currency

And a viable alternative to FedAccount (the Corona digital airdrop).

It sounds wonderful: the IRS drops $1200 into your FED wallet.
Except, remember ‘Merica just went to negative interest rates.
So you will be be paying the FED interest to keep your money with them.
Suddenly crypto looks pretty good. Tezos is paying 5.5%.
I do not believe in it as an investment or store of value. None-the-less it seems to me it has been accepted as a way of moving money.

Doing my taxes the IRS ask if I had a cyber currency account.

One that does not give credit when credit is due have no credibility.
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Old 03-30-2020, 11:34 AM
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Did you sell all your crypto?
I have NEVER owned cryptos and I NEVER will.
They are not real. I can't use them, so they have no value to me.

I am an American Capitalist... so I invest in useful REAL things like land, homes, vehicles, businesses, tools. Just bought a lathe, and a square wave TIG welder is arriving in a few days.

I also invest in 100% REAL solvency by owning outright ALL of our possessions by NEVER owing even one cent of debt.
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Old 03-30-2020, 11:35 AM
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I do not believe in it as an investment or store of value. None-the-less it seems to me it has been accepted as a way of moving money.

Doing my taxes the IRS ask if I had a cyber currency account.

One that does not give credit when credit is due have no credibility.
It is going to be mainstream:

https://cointelegraph.com/news/in-us...digital-dollar
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Old 03-30-2020, 11:41 AM
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I do not believe in it as an investment or store of value. None-the-less it seems to me it has been accepted as a way of moving money.

Doing my taxes the IRS ask if I had a cyber currency account.

One that does not give credit when credit is due have no credibility.
Debt is also an accepted way of moving money.
It causes cyclical collapse just like this one.
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Old 03-30-2020, 12:49 PM
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ForgedInTheFlame ForgedInTheFlame is offline
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I have NEVER owned cryptos and I NEVER will.

They are not real. I can't use them, so they have no value to me.



I am an American Capitalist... so I invest in useful REAL things like land, homes, vehicles, businesses, tools. Just bought a lathe, and a square wave TIG welder is arriving in a few days.



I also invest in 100% REAL solvency by owning outright ALL of our possessions by NEVER owing even one cent of debt.
Remain in the past manimalist.

Just because the value and significance of blockchain and crypto escape you, does not reduce their value nor significance.

Sent from my Note 8 using Tapatalk
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Old 03-30-2020, 03:48 PM
LoveLife LoveLife is offline
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Originally Posted by manimalist View Post
I have NEVER owned cryptos and I NEVER will.
They are not real. I can't use them, so they have no value to me.

I am an American Capitalist... so I invest in useful REAL things like land, homes, vehicles, businesses, tools. Just bought a lathe, and a square wave TIG welder is arriving in a few days.

I also invest in 100% REAL solvency by owning outright ALL of our possessions by NEVER owing even one cent of debt.
That is all cool and within your rights,
but the condescension still bothers me.
Especially when it is factually incorrect.

The American capitalist dream you embrace would not exist without debt.
Debt is the great multiplier (leverage) that created the American wealth.
99% of Americans would not enjoy homeownership without the debt we call a mortgage.
Strategic debt allows people to buy assets when they are optimally priced.
Businesses who want to retain control prefer debt financing over equity financing.
Use of debt is the only way to obtain a credit rating.
In the current zero interest rate environment, IMHO it is foolhearty to not use OPM.

Debt is not a four letter word if you get my drift!


Now for the “not real”.
The Coronavirus Stimulus Legislation was initially going to establish (and may still)
a digital dollar and mandatory crypto wallets (see link below).
It don’t get any more real than that.
Legislators understand that checks sent via snail mail will take weeks and cost millions.
Digitally sending value to a crypto wallet takes seconds and costs the same as an email.
Central Bank Digital Currency is totally real.
It will replace all paper fiat in the not too distant future (probably China first).

As PalmettoTree eloquently stated...credibility is lost when someone denies reality.

https://www.forbes.com/sites/jasonbr.../#70884a124bea
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