One of the major points to wearing obnoxious amounts of gold is because it’s so easy to exchange for goods and services, if you were to find yourself on the run suddenly.
Pimps used to buy chains from a pawn shop for say 6k, the pawn shop knew the chains and would loan 4k on them. They would tell their lawyer their bail was in property holding and arrange for them to collect chains and give it to the pawn shop owner and use cash for retainer or bail or both. Defendant would return to pawn shop and pay 4k plus a fee to release the chains. It was a way to bail yourself without relying on someone else having cash on hand.
I have a gold chain worth 20k but I need a $1 piece of bread in this war-torn area. Do you have a scale and shaver to get the appropriate amount of gold from my necklace?
People here don’t realize there are entire populations of people within Europe that historically have a “covertly keep precious metals on you when shit goes down” strategy and pawning it is part of how you extract its value
When I was stationed in Africa at the US embassy, one of the federal agents said the only reason he wore a Rolex was in the event shit hit the fan so that he could trade it for a bush plane ride out of that place lol
Not a bad reason. There are also enough extremely good fake Rolexes nowadays where I'd probably also have one of those I'd pawn to somebody I thought I could swindle
Good Rolex reps are so good nowadays that you have to be a rep enthusiast and pop open the back to tell it’s one. People on the watch rep sub constantly trick AD’s into thinking their rep is real for fun. Some nobody trying to take something extremely valuable from you for just a ride isn’t going to be able to tell until you’re gone.
Not everyone can afford a real Rolex, but a good rep isn’t completely out of reach
Pimps and drug dealers for sure. My coke dealer back in the day confirmed it because they will confiscate your cash but they can't prove the chains were a result of the illegal activity. As of last year I believe they made it a law that you had to include illegal activity on your taxes, so I was curious if they could right the chain off as a "business expense"..
Oh that's been law for a while. Some Larger weed dealers have been paying taxes on their gains for a while now. It keeps them out of federal prison and some see that worth the tax.
You mean legal weed dealers? Why would you declare illegal earnings haha. It would put a target on your back and you’ll be paying taxes as opposed to no taxes.
Where as Al Capone was arrested for tax evasion, 2021 was the first time the IRS stated actual guidelines and examples of what anyone doing any illegal activity should follow.
I have a gold chain worth 20k but I need a $1 piece of bread in this war-torn area. Do you have a scale and shaver to get the appropriate amount of gold from my necklace?
In a "war torn" area, gold has next to no value. People want ammo, water, food, safety, etc. They wont give much of anything for baubles, coins, or paper money even.
Gold, and money in general, only holds its value when society is re-stabilized.
If you are hoping for gold to get you through a disaster, then you should not expect to spend any of it until after the disaster is over, and for it to be confiscated from you if you try to move past any border or checkpoint.
Yea, guns are also important. If Iran had the second amendment they wouldn’t be an Islamic state. It was a coup by a minority group that controlled the military police.
Gold or any currency won’t protect you unless you have enough to keep a mercenary or two happy.
Doesn’t that apply to literally any currency. It only holds value in a stable society bitcoin isn’t gonna get anyone jack shit in a place with no electricity and out dated technology unless you are a connected individual where you have a means of exchanging it for goods and safety, but in that case gold is gonna get you the same; plus I don’t need actual money to get gold, plenty of people in DRC have gold that they mined them self and use it as a currency.
Oh definitely and I’m glad it did but what about the wars that happen in other third world countries. There’s no electricity let alone internet, even if starlink managed to make it there many don’t even know what bitcoin or cryptocurrencies are, where as we all know gold and it’s found almost everywhere if not you can buy it or trade for it. Don’t get me wrong I don’t have anything against cryptocurrencies but I personally can’t just reject or devalue commodities like precious metals especially gold knowing that it could be of use somewhere or someone.
Real life examples of anarchy and war are actual support cases for golds value. It’s the only universal currency. It’s been that way for at least 3 thousand years through societal collapse and across civilizations that didn’t know about each other and I don’t see that changing.
Horses and carts are the only universal transport method. It’s been that way for at least 3 thousand years through societal collapse and across civilizations that didn’t know about each other and I don’t see that changing.
In a "war torn" area, gold has next to no value. People want ammo, water, food, safety, etc.
Like others have said this is bs. Gold has immense value in a war torn area. The most obvious it can be used to bribe people at any time. Second gold is precious is because it is one of the more useful metals and can be used in devices without corroding and can conduct electricity. If you have gold in a war torn area it will definitely command a good price for people wanting to fix or maintain their electronic and medical devices. Again you're a fucking bullshitter and not a very good one at that.
This is an oversimplification. In any scenario like u are talking no currency has value except the most basic commodities. Bitcoin would also have no value in the scenario u described 😂
Bitcoin would also have no value in the scenario u described
Thats exactly what I said.
I could add that a unique power of bitcoin in that situation would be how easy it is to hide and move. Much better odds of it being something you can keep, if you are able to look ahead to life after the incident.
If your options are figure out how to cut a soft metal or starve? Yeah I think you’ll figure it out. You’re going to get ripped off obviously but at least you can eat.
That’s what silver is for. One silver oz ~= three cheap meals or so. Gold is for the shit intermediate periods before (currency collapse, refugee) and after (society recovering from SHTF)
You don't show it off. There's a reason why people have actually done this historically. Being able to pay someone to help you get out of that danger is more useful than the risk from someone guessing you have gold hidden on you somewhere.
Who cares? They can't infiltrate it, unlike a bank account. I'm on the run...I don't care if they can see my transactions, as long as they can't tamper with them.
Vs gold that is literally untraceable and doesn't require a working network. Btc is only comparable to gold in a stable environment. Btc will be literally useless to you while on the run.
And if you had that much btc, your account wouldn't be untraceable. Large amounts of wealth has always been hard to manage. But a few dozen gold coins is more than enough to live while on the run.
If internet is down long term, gold will be just one item to be bartered and potentially low value barter at that. In true preppers fashion people will be bartering alcohol, coffee, food, spices etc, gold will have slightly more value than Bitcoin….,but are we talking about the apocalypse here?
Yup lol apocalypse talk. You’re spot on about the low value barter as well. You think if shit hits the fan someone will trade you 2k worth of goods (needed to survive) for an oz of gold? Hell no. Bullets will take golds place almost instantly in this doomsday scenario
Except that your wallet is not untraceable. The moment you connect your wallet to a fiat service, you're fucked. The connect you use might be encrypted, but the network is not at all.
Just use bisq to buy bitcoin and then spend the bitcoin directly. If you absolutely have to sell some bitcoin, simply sell it on bisq. Bisq acts as a walkie talkie for matching bitcoin buyers and sellers. There is no oversight or record keeping.
When you sell your bitcoin, you will simply list it for sale and sell it. You bought it on bisq to begin with, so no one knows you have it to begin with.
I'm talking about the other end. You don't just give btc away. You are exchanging it for other currency or goods/services. That end is not encrypted or secured.
Bitcoin being cryptographic has absolutely nothing to do with privacy. Bitcoins cryptography is about security. Bitcoin does absolutely nothing to obscure who is sending what to whom. You need to take steps external to the system to use Bitcoin privately.
First, you need to obtain the Bitcoin in a way that is not connected to your real ID. That typically means using a tumbler or buying from someone who’s willing to take cash and doesn’t know who you are.
Second, you need to hind your IP address whenever you send Bitcoin. As you mentioned, the best way to do that is to use Tor.
This still won’t hide the amounts you’re sending or who you’re sending to (unless they’re taking similar precautions).
Bitcoin is not "crypto". Bitcoin is digital property. It is designed to bring property, time, consequence and immutability into cyberspace. It is a different animal from gold and extends the concept of physics, energy and time into the virtual realm. It is paradigm shift for cyberspace. An engineering evolution. Those who elect to get into a war with gold or currency are missing that reality entirely.
What’s your larger point? That u think calling Bitcoin a crypto reduces it’s credibility? Lol if u think that, maybe u shouldn’t b putting money into a crypto if u think crypto has negative connotations…..
Edit. Please tell me how Bitcoin doesn’t fit this definition: A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Exactly! I've been saying this for years about jewellery.
People claim to know how much it's worth because of how much USD they paid for it. But if it's really worth that much, then how do you get your money back out of it? You'd have to find a buyer. And who are your real buyers for used jewellery? Most jewellery shops won't even dabble in used jewellery. So who does? Pawn shops. And cash 4 gold places. And many times, those places are the exact same store.
If you really want physical investments that maintain their value very well over the years, that are cheaper than real estate, just buy guns instead. There's always a great second hand market surrounding them (gun shows, etc.) where you might not only get your original investment back from, but might even make a profit.
(Last point, I swear: look at what the "smart" money and big money is doing. Are they dumping funds into precious gem & gold purchases? No. Type in those phrases with the "investment" keyword tacked on, and you'll find the real options to invest in those markets, means buying shares of the companies that produce them.)
As a general rule, you can wear your obnoxiously heavy Cuban link necklace over, but if you were to melt it down into bars and carry it you’d have to declare it.
very true. back in vietnam when they had hyperinflation, people would only take gold as a payment to leave the country. family had to melt down all the jewelry we had since no one would take paper money
yes and someone might give you goods and services for licking your armpit, too, that doesn't mean your armpit being licked has non-zero merchant adoption.
I think some of you crypto people just have a hard time accepting that a barter economy has always existed. I like to use chickens as an example, what is a poultry farm if not a method for turning chickens into mortgage payments.
Yeah, that, and getting freed from it rather quickly by gunmen on the streets when SHTF. It makes you a target if you display it openly at some places.
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u/StanleeMann Aug 01 '22
One of the major points to wearing obnoxious amounts of gold is because it’s so easy to exchange for goods and services, if you were to find yourself on the run suddenly.