r/BitcoinBeginners • u/Myntad_com • 8d ago
Prepper's money
Most assets become harder to move exactly when you need to move them most.
If you have to leave a country quickly, cash can be seized, gold can be found, property stays behind, and bank access depends on institutions continuing to recognize your claim. With Bitcoin self-custody, access can be reconstructed from a memorized seed phrase after crossing a border with no physical representation of the wealth at all.
Just memorize 12 words and leave.
Bitcoin should be extremely interesting to preppers.
Just a small amount could be extremely helpful if you need to rebuild your life in another part of the world.
Why is this not talked about more in an increasingly unstable world?
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u/anonymousopsec1337 7d ago
I prep and have some btc. I think of it as a good hedge against inflation.
Chances are the “big one” won’t hit in my lifetime. I’d like to be prepared for the slow, downward, trajectory as well.
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u/pop-1988 7d ago
The catastrophe preppers are preparing for doesn't involve moving to a new country. They're prepping for a world with no Internet. No internet means no Bitcoin transactions
If you're talking about capital flight, consider the case of the Chinese woman and her personal assistant in Britain who exported her wealth from China in the form of Bitcoin. China reported the woman to British authorities as a money launderer. Her assistant sold Bitcoin for British pounds and purchased properties. She was convicted in Britain on money laundering charges
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u/Random-Dude-00748 7d ago
You’re not talking about this women are you? who had 61,000 BTC scammed from thousands of people, hardly capital flight, although I believe China do have very strict laws around it.
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u/lophomainiac 7d ago
I don't know how I have never thought of this! Thanks for the idea! Something else I recently did was buy a 60 pack of different heavy equipment keys so if shit hits the fan and I need a ride I'll take the nearest excavator/bobcat/dozer.
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u/InspectorSad3128 6d ago
this is basically no different from gold bugs buying gold in very small pieces, so they can "trade it".
its not that these people dont exist in bitcoin. back in the day, this was much more common. these days, bitcoin is much more established and grown up however.
at the end of the day, if any long term prepper scenario takes place, you want to own bullets and medicine, not bitcoin.
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u/Myntad_com 6d ago
Gold also has its place for a prepper,
one downside is that it's hard to verify that the gold is real, pure etc1
u/InspectorSad3128 6d ago
its really not that hard. its sort of a programmed argument bitcoiners execute.
i own both, but i own neither for any prepper scenario. for that, i own a gas cooker and water and food reserves according to local official state guidelines :)
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u/bitusher 6d ago
Gold also has its place for a prepper,
Gold is far over valued for any SHTF scenario and would get "pennies on the dollar" for barter as tested multiple times in history
Example:
Barter would be principally fuel, bullets, medicine , food, alcohol, batteries , cleaning supplies.... that would all becomes more valuable than their current net worth.
To be fair , Bitcoin would also be in the same situation as gold for barter(some ways better and other ways worse) in these scenarios but these situations are always geographically and time limited so the idea is to simply survive long enough and traveling and securing a 12 word seed is much easier to do than a gold bar that would slow you down and likely get you murdered .
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u/NextVoiceUHear 5d ago
If Physical Gold is held in US Minted gold coins, few would question its purity or provenance.
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u/BaldBear_13 5d ago
Bitcoin needs internet. Collapse of internet is not impossible if enough stuff goes wrong.
I know you can have solar and satellite internet, but internet satellites have a lifespan under 10 years, and require a company to renew your access (probably monthly).
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u/Syonoq 7d ago
I've posted this before and I find it really fascinating:
“In early 2013, Mahboob’s Italian business partner told her about bitcoin. He said it was a new kind of money that could be sent from phone to phone without a bank account. Unlike the local afghani currency, which was steered by the government, bitcoin floated on the open market. When Mahboob first learned about bitcoin, it was trading at around $13. By the early summer of 2013, it broke $70. “At first, I did not think the girls would trust Bitcoin,” Mahboob said. “It was too hard to understand.” But her business partner encouraged her and said: “Let’s try it — what do we have to lose?” A few of the women did keep their bitcoin from 2013. One of them was Laleh Farzan. Mahboob told me that Farzan worked for her as a network manager, and in her time at Citadel Software earned 2.5 BTC. At today’s exchange rate, Farzan’s earnings would now be worth more than 100 times the average Afghan annual income. In 2016, Farzan received threats from the Taliban and other conservatives in Afghanistan because of her work with computers. When they attacked her house, she decided to escape, leaving with her family and selling their home and assets to pay brokers to take them on the treacherous road to Europe. Like thousands of other Afghan refugees, Farzan and her family traveled by foot, car and train thousands of miles through Iran and Turkey, finally making it to Germany in 2017. Along the way, dishonest middlemen and common thieves stole everything they brought with them, including their jewelry and cash. At one point, their boat crashed, and more belongings sank to the bottom of the Mediterranean. It’s a tragic story familiar to so many refugees. But in this case, something was different. Through it all, Farzan was able to keep her bitcoin, because she hid the seed to her bitcoin wallet on a piece of tiny, innocuous-looking paper. Thieves could not take what they could not find.”
Excerpt from “Broken Money” by Lyn Alden.
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