Post by Jeffrey on Dec 5, 2023 9:38:43 GMT -8
Although I'm not an investment expert, I would like to kickstart this discussion with my personal ranking of "alternative" currencies in these troubled times, and my thinking behind them.
I would personally rank them in the following order:
1) Gold and silver bullion and coins
2) Precious jewels
3) Cryptocurrencies
My rationale behind placing gold and silver at the top of this list is that they are portable, have intrinsic value, and their authenticity is quite easy to verify. These are all characteristics that provide for safe transactions between individuals even if the economy were to collapse.
Precious jewels are desirable for some of the same reasons, however, validating their authenticity is significantly more difficult. This, coupled with the prevalence of high-quality counterfeit jewels means that bad actors could easily pass them off to unsuspecting individuals. As a result, they could lose their desirability or be rejected altogether by those without the ability to authenticate them.
Finally, the reason cryptocurrencies sit at the bottom of my list is that, no matter how well they might be performing, they're still reliant on the internet in order to verify current balances, or to make deposits or withdrawals. This makes them particularly vulnerable to EMP-related events, whether natural or man-made. Moreover, they have no intrinsic value. As a result of these liabilities, I do not, and will not, invest in cryptocurrencies of any kind.
How would you rank these "alternative" currencies, and why? Please share your insights!
As always, stay safe!
--Jeffrey