Interesting Answer.
Do you think the internet can fail? It is as distributed as cryptocurrency networks are.
RE: Silver Gold - WHY?
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Silver Gold - WHY?
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all it takes is one solar flare
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Correct, Solar Flares with enough strength can wipe out electronics; Question then is "are solar flares that powerful"? Each 11 years the Solar flares have their maxima, so far no real issues experienced with that.
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there was one in 1859 that wiped out all (basic) tech they had. One in 2012 actually almost hit us, it could have wiped out all tech for an entire continent.
They are common yes, but the Earth is a small target so whether it hits us or not makes the difference.
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When it happens, and indeed wipes out all electronics, I wonder what will happen. When we cannot get the power and electronics up again in relatively short time, we have other issues we have to face. I suspect in such situation were electronics stay off, we have to fight for our belongings, we have to fight for food, we have to get in to survival mode. Gold and Silver will not really help then; But we will only know when we get to that point.
Thanks for your informative comments.
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Even paper can fail, which is why in times of war gold/silver were the fall back of choice.
If your goverment's economy falls today, which remains valueable the paper or the gold which is state independent?
It's simple.
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Correct, paper and electronics could fail, but the question is "will it fail?". I think it will not, and when it does, we have others issues to deal with.
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My friend it's not necessary for it to fail due to wars, it can fail due to politics solar explosions etc. It's a tool, tools get broken from time to time. Do you think bitcoin as it currently is in it's current form will be there forever? No, certainly not.
Other issues to deal with? Yeah, but why do we need it? Easy, everybody wants a fallback system.
Just like you have fallback generators when electricity fails.
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Fair point!
If Bitcoin will be there forever is a good question; Probably not. However, I think crypto currencies and the future of those will be there forever, or at least as long as human kind will exist. Same for Internet, with whatever backup system required to be protected from eg the earlier mentioned solar flares. Therefore Gold and Silver become less relevant as backup system IMHO.
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