Planning for worldwide disaster? Bit coin, etc.?

Dan03

I know... this is a very bleak post.... I am really hoping it won't happen, but with people like Donald Trump around, the whole world seems more racist than ever, Europe and the UK more fragile than ever, global warming possibly causing the next ice age, bees dying out and causing a massive famine or maybe evil aliens are in mid transit as we speak?

In these situations it is always the poorer people who suffer the most, so I am thinking if there is anything I can do that could potentially save me and my family in a situation that caused a world financial meltdown like major war or other catastrophe?

I am looking mostly at Bitcoins, which I know can go up or down a lot from day to day, but generally seem to go up A LOT since they started... and in the case of a meltdown of our traditional banking systems I would assume they would absolutely explode as one of the only currencies not connected to the banks (Mr Robot being a nice although fictional example). In brexit month they almost doubled their value against the pound. So imagine something more serious? And if EVERYONE except those Bitcoin holders loses all their money for some reason (I'm not saying I would be happy about this) those bit coins would be priceless no?

Anyway just wondering am I right about this?

I am definitely not rich, but maybe 1,000 pounds in Bitcoin could be a good insurance, and even if there isn't any huge horrible event it looks likely to continue rising either way.

Side question, if I were to do this, what is the best method to get Bitcoin for a good rate and store it safely?

gt94sss2

Dan03 wrote: »

Anyway just wondering am I right about this?

No.

Hope that helps.

mollycat

Dan03 wrote: »

I know... this is a very bleak post.... I am really hoping it won't happen, but with people like Donald Trump around, the whole world seems more racist than ever, Europe and the UK more fragile than ever, global warming possibly causing the next ice age, bees dying out and causing a massive famine or maybe evil aliens are in mid transit as we speak?

In these situations it is always the poorer people who suffer the most, so I am thinking if there is anything I can do that could potentially save me and my family in a situation that caused a world financial meltdown like major war or other catastrophe?

I am looking mostly at Bitcoins, which I know can go up or down a lot from day to day, but generally seem to go up A LOT since they started... and in the case of a meltdown of our traditional banking systems I would assume they would absolutely explode as one of the only currencies not connected to the banks (Mr Robot being a nice although fictional example). In brexit month they almost doubled their value against the pound. So imagine something more serious? And if EVERYONE except those Bitcoin holders loses all their money for some reason (I'm not saying I would be happy about this) those bit coins would be priceless no?

Anyway just wondering am I right about this?

I am definitely not rich, but maybe 1,000 pounds in Bitcoin could be a good insurance, and even if there isn't any huge horrible event it looks likely to continue rising either way.

Side question, if I were to do this, what is the best method to get Bitcoin for a good rate and store it safely?

Yep, it's a GP appointment for you tomorrow sunny Jim.

OR

6/10 for 1st trolling attempt.

Try harder next time

ColdIron

Everyone knows that bitcoin is an elitist construct run by lizards
Bullets and beans are your best bet

Dan03

Wow...... Didn't expect that response at all.......

First of all, I don't know that it is an elitist contruct, nore am I really sure what that even means??

Secondly, major wars happen on average several times per century, financial meltdowns even more, the other possibilities were becoming less and less serious which I thought that was obvious by the aliens comment... But still, major disasters happen all the time and with so many things that could potentially go wrong in modern times I'd say the possibility of one of them going wrong is very real.

Anyway.... that aside... If for any reason our financial system collaplsed, why would that not make bitcoin the only major currency to survive as it is running on a completely different system? As I said, when Brexit put doubt on the pound and the euro it almost doubled in value, so what would happen if something more serious happened?

Linton

If the world economy collapses or the hords from the planet Zog land what makes you think that the internet would continue to operate? Or come to that, would you be able to recharge your tablet/PC etc?

le_loup

Dan03 wrote: »

If for any reason our financial system collapsed

If it did, I doubt you could pay your electricity bill in bitcoins so your electricity would be cut off and your 'puter would die and your bitcoin wallet would be unavailable.
As has been said, beans and bullets.

ChesterDog

In a total collapse or catastrophe, food and fuels are what you need and are the things which will have value.

Dan03

Linton wrote: »

If the world economy collapses or the hords from the planet Zog land what makes you think that the internet would continue to operate? Or come to that, would you be able to recharge your tablet/PC etc?

ChesterDog wrote: »

In a total collapse or catastrophe, food and fuels are what you need and are the things which will have value.

Maybe the problem with this topic is there are too many possibilities... I am more talking about an event that caused financial meltdown than some kind of all out armageddon which I think is much less likely.

But still, in previous world wars infrastructure was not completely destroyed, but reduced to such levels that caused many to die. Likely in these situations electricity would still work, as well as the internet to some extent, or it would be replaced by alternative networks.

Of course food and water will be the most valuable thing in a life threatening emergency, but filling up my cupboard with canned food isn't the most convenient, also could end up being just a waste of money...

Anyway, lets keep this on finance............ In a serious international crisis what would the new currency end up being?

PasturesNew

Realistically, enrol yourself onto a RYA course for water navigation and get your yacht certificates and get yourself a small little boat... which you can fill with dried goods.

First sign of trouble, pull up the anchor and go offshore a bit while you wait to think about what to do next. At least you'll have somewhere quite defendable that's got room to sleep.

Also learn to fish and learn how to start fires. You can also use maps to identify small beaches/landing spots that are inaccessible by road.

In the meantime, you've got the little boat for your holidays....

In a world without money you'll need to be trading things with others ...

Norman_Castle

Dan03 wrote: »

maybe evil aliens are in mid transit as we speak?

Maybe we're already here.