Doomsday Preppers Stockpiling BTC Instead of Gold

destruction-earth-apocalypse_SI
via Bloomberg

TL;DR:

Doomsday preparers have begun to stockpile bitcoin opposed to gold bars. There is a belief in the prepper community that in the event of a societal breakdown bitcoin would be easier to travel with, harder to steal and offer better long-term protection than fiat currency. While bitcoin does need the power grid and the web to be used, survivalists believe it will endure economic collapse, global pandemic, climate change catastrophes and nuclear war. “It may be difficult, if not impossible to access for a while, but once things start returning to some level of normality, then the blockchain will return as it was before the disaster,” said Rob Harvey, a bitcoin investor and survivalist. “The blockchain does not need a specific place or a specific person to survive—that’s a strong survival tactic.”

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It’s true^^^ Over the past few years I’ve known of many survivalists whom have jumped from stockpiling metals over to crypto. Many highly respected in that particular community consistently advocate for others to follow suit. One of the biggest reasons I’m here with ya’ll lol

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I’m a huge advocate of crypto but this definitely is not its best use case. IMO this is a completely absurd idea. In catastrophe one is not concerned with anything except what is actually useful in the real world. No one in societal breakdown is going to care about Bitcoin. The #1 most valuable commodity will be guns & ammo.

In fact, this is probably the only scenario in which gold is actually a better store of value. The power grid and internet are likely to fail, what is crypto going to do in that situation? Gold was valuable before even the invention of electricity. Gold will always be a superior store of value in the case of societal breakdown or catastrophe because it has a physical presence as well as actual intrinsic usefulness as well as beauty which humans have always craved.

If the world breaks down to middle ages tech gold will be king once everyone gets into a position where they actually care about wealth. At first the only thing that will matter is having food, water, shelter, guns and ammo. Gun & ammo > Gold > Crypto>Fiat. Why? Because you can use guns and ammo to take whatever you want and need from others or protect yourself.

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I agree to some extent with what you’ve said. If the end goal is to become prepared to handle full scale societal breakdown, teotwawki on all levels, yeah, a trezor loaded to the gills with BTC probably ain’t gonna put food on the table. Pending society not cannibalizing each other within a months time; You would fare much better with a simple cache of bartering goods such as Liquor, smokes, or even toilet paper for that matter. In a true shtf scenario Gold is… mostly useless, outside of its shine and historical value. You can’t chaw on a lump of gold :smile: Pretty sure I could find vastly more worth out of a junked car than a lb of gold. So I’d be inclined to drop gold to the back of the line as far as metals go. At least up until society has congealed a little bit that is.

but I disagree with your usage of the word absurd.

^^^ Now that’s absurd… Just don’t go venturing through Utah with that attitude… Pretty sure the Mormons have a contingency plan in place for dealing with all that jazz lol. You are right though… but it’s horrifying to think such bedlam could ensue, yet sadly I hear it quite frequently. I don’t know though man… I like to believe that people would hold out hope for some length.

The idea of having crypto on hand is simple. What if “it” happens to not be worst case scenario. What if “it” is the collapse of the banking institutions? What if there’s a gnarly solar flare that cripples our infrastructure? What if the ramifications are mostly isolated to one continent? Basically, what if “it”, is something that we can still recover from? What if it takes a year or two to rebuild, perhaps only months? Generally speaking humans prefer to return to some approximation of normalcy post haste. We adapt and move on because it is ingrained within us. Within these parameters it is not inconceivable to think there may be a store of value within crypto still. Just my 2 satoshi’s to the pot

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Doomsday prepper here and I can confirm… yes. I also have silver, bullets, silver bullets :sunglasses:

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My point with that statement was that all stores of value are useless unless you can actually protect them with hard power. Soft power means nothing without hard power to back it up. If you don’t have guns & ammo you will have everything taken from you. Also, if you are starving to the point that you are desperate/dying you can use guns & ammo to force others to “share”.

If you are a power hungry Ahole you can use guns & ammo to acquire more power and resources selfishly. No other commodity will allow you to do that really.

Solar flare? That’s one catastrophe that would make BTC pretty much useless. It would knock out all our technology like an EMP. All hard drives would be wiped and all power grids destroyed. Everything electronic would be done.

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That’s why my house is a bunker. Call me a prepper

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I bought the Solar Flare warranty for my house so i should be good.
Has a EMP protection rating of Too Strong

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Does anyone know where to get bulk ammo? Looking for 7.62

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In a TEOTWAWKI situation crypto would be used for the recovery. But an TEOTWAWKI is far from the most likely scenario. I would think along the lines of Venezuela. Might keep you from starving or at least being very uncomfortably hungry.

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Survivalists are the biggest miners too!

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I think they realize that societal breakdown does not equal global breakdown,many times throughout history there has been societal breakdown inside one country and nothing much to report inside most others. Like with modern day Venezuela or Argentina in quite a few different instances.

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