Keiser Report: If Only Arrested Saudi Prince Owned Bitcoin



Personally, when I think of Bitcoin I think of the Netflix series "Revolution" which poses the thought: Our entire way of life depends on electricity. So what would happen...?

 So I read this at coindesk.com
The smart course of action is ‘diversify’.” Really just commonsense.

What happens to Bitcoin if the lights go out?


“Gold/fiat do have one advantage over bitcoin ...  you can still trade with them when the lights go out,” noted forum member AlphaWolf. “Don’t get me wrong, I think Bitcoin is superior in many ways ... but imagine a world that trades exclusively in Bitcoin, and then imagine an EMP strike anywhere. We are close to this being an issue already with fiat being exchanged almost exclusively electronically, of course. I believe the smart course of action is ‘diversify’.”
He added, “Just as valid would be a major blackout, such as the Northeast Blackout of 2003 (and also 1965) in the US, or the 2012 India Blackout, or 2003 Italy Blackout... or any of the others on this list:
https://en.wikipedia.org/wiki/List_of_major_power_outages#Largest. With fiat, there exists the possibility that you could drive to another city with power, and extract some paper money from a bank. Bitcoin needs an easier way to transact physically, in person, even when the network if offline or inaccessible. Pretty big challenge ... given that the strength of Bitcoin *is* the network.”

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"The old will die and the young will forget"

"The old will die and the young will forget"
David Ben-Gurion, the founder of Israel, in 1949

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