Here's the inflation-adjusted price of gasoline every years since 1978 to 2021.

[Cougsfan]

It's not a ponzi scheme. It's verified on a block chain and the payout is not dependent upon new money coming in. You have "keys" stored on a wallet held on an exchange.

It's not like the gov back ponzi scheme we call SS that is dependent upon new money paying off old money.

The block chain part just means a hacker just has to work a little harder to steal your bitcoins. The way I understand it, there are only so many bit coins, so the guy who started way back when with just enough bitcoins to buy a pizza, those same bitcoins are now worth a fortune, and the fortune grows as more people buy them and become worthless if people ever stop using them. It may not fit the exact definition of a Ponzi scheme, the the effects and characteristics are very similar. I still haven't heard the advantages unless you are a crook trying to hide your money dealings, a schiester trying to make a quick buck, or an anarchist who is confident, or possibly even hoping that our reliable 250 year old financial system is going to fail.

 

[Ken45101]

IMO, gold is a hedge or speculation, not an investment.

I did hear one reasonable answer to the question "what to buy now?"
--CANNED GOODS AND AMMO.

 

[Fuddy1952]

IMO, gold is a hedge or speculation, not an investment.

I did hear one reasonable answer to the question "what to buy now?"
--CANNED GOODS AND AMMO.

I know people who hoard canned goods and ammo. The canned goods expire and who do you shoot the ammo at?

 

[jyoutz]

I know people who hoard canned goods and ammo. The canned goods expire and who do you shoot the ammo at?

The only ammo I accumulate much of are hunting rounds. A fifty round box of defensive ammo is sufficient for home defense: one magazine in the gun and one backup. So really only 15-20 rounds. I do shoot up a few boxes occasionally for target practice. The only canned food we stockpile are jars of food preserved from garden season.

 

[lman]

If you live near Russia now might be the time to start hoarding Javelin missiles.

 

[Bill Guenthner]

Bitcoin has its own built-in inflation known as Moore's Law. It is based on computer calculations, and the speed of computer cores is increasing at 30% to 40% a year. That's why high Nvidia graphic processors have been in such short supply. Three years from now they will be twice as fast. Bitcoin farming is already a profitable scam, and big farms are using the equivalent electrical supply of a medium sized city. Anyone buying bitcoin on the open market is mostly paying markup to the computer farms. It's not a Ponzi scheme, it's an out and out fraud, based on oversupply of money.

Paper money has never held its value. In my lifetime alone, the dollar has lost 90% of its value. If you are a frugal sort, don't keep your money in money. It's a loser.

Exactly!

 

[Bill Guenthner]

I know people who hoard canned goods and ammo. The canned goods expire and who do you shoot the ammo at?

Canned food remains edible long past the “best by” date on the can. That’s just the date beyond which the taste and texture are not identical to the day it was put in the can.

 

[Hay Dude]

The block chain part just means a hacker just has to work a little harder to steal your bitcoins. The way I understand it, there are only so many bit coins, so the guy who started way back when with just enough bitcoins to buy a pizza, those same bitcoins are now worth a fortune, and the fortune grows as more people buy them and become worthless if people ever stop using them. It may not fit the exact definition of a Ponzi scheme, the the effects and characteristics are very similar. I still haven't heard the advantages unless you are a crook trying to hide your money dealings, a schiester trying to make a quick buck, or an anarchist who is confident, or possibly even hoping that our reliable 250 year old financial system is going to fail.

Turn on the “news“and you’ll easily find a couple alarmists proclaiming our financial system is going to fail enough to scare them into buying bitcoin.

 

[Fuddy1952]

Canned food remains edible long past the “best by” date on the can. That’s just the date beyond which the taste and texture are not identical to the day it was put in the can.

True, but our idea of canned food is to have about 30-40 cans maybe, using oldest first.
I know preppers having 100s in different places, usually buried vaults. One guy's got flooded and had 100s of corroded cans!

 

[Snobdds]

The olds don't get bitcoin. I was skeptable at first too, but what else has a store of value that is not subject to a governments printing press?

There is also a big difference between the shitcoins like doge and bitcoin.