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-   -   Cryptocurrency (http://www.backwoodshome.com/forum/vb/showthread.php?t=36417)

mtmncobb 08-10-2017 06:20 PM

Cryptocurrency
 
Cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. Is there anybody here investing in them or not investing for this reason or that? What are your thoughts? I used to think they were a fad or a scam but I've been watching them for a year and a half and I don't think they are going away.

jvcstone 08-12-2017 03:11 PM

Personally, I don't know much about the "criptocurrencies" and am not really interested in looking into them. My "hedge has been in hard assets--land, equipment/tools, and a bit of precious metal. I have a feeling that bitcoin etc are just digital forms of fiat currency--worth only the faith put into them by the issuers and users.

However, that's just me. Since no one else has bothered to answer, Here is a link to an article, which in terns supplies other links:

[url]http://charleshughsmith.blogspot.rs/2017/08/what-mainstream-doesnt-get-about-bitcoin.html[/url]

JVC

doc 08-14-2017 11:56 AM

[QUOTE=jvcstone;433628] I have a feeling that bitcoin etc are just digital forms of fiat currency--worth only the faith put into them by the issuers and users.

[/QUOTE]

I heard a piece on NPR a few months ago: experts anticipate a rise in value over the short term, but then probable collapse as people realize they have no intrinsic value.

Watcha gunna do when the internet goes down in a real SHTF situation? Even gold may not have a value then. Better to be invested in barterable ( ? is that a word) skills, tools, supplies & materials.

Doninalaska 08-14-2017 05:07 PM

There used to be a guy on the radio--he also wrote a few books--whose name I cannot recall, who advocated just that idea in detail. It was years ago and he was one of the earliest public advocates of "Preparedness Philosophy". He maintained that toilet paper and coats would be the currency immediately after the collapse. That was before the internet and cryptocurrency such as the bitcoin had been invented. Of course, marketable skills will always be in demand.


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