Ann Barnhardt on why to stay the hell away from Bitcoin (from her Dec 3, 2013 podcast)

ataxia

Published on Dec 23, 2013
“… contingent on something as intricate as a functioning internet, and, frankly, something as vulnerable as a functioning internet. Not a good idea…”

For more Ann Barnhardt, go to barnhardt.biz and youtube.com/user/AnnBarnhardt .

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The only true wealth is usable commodities (food, water, guns, ammo, fuel, etc.). Precious metals are more portable and will become the default currency when fiat currencies become worthless. If you can’t hold it, stack it, store it in a physical place, then it should not be considered to have value. Antiques, collectibles are the exception, they fall into the same catagory as fiat currency.

Kurt Homan
Common sense dictates no one should put all their wealth in one basket including Bitcoin, but if you were to have put a mere $1000 in Bitcoin prior to February 2011, your investment would now be worth over $1,000,000. Most Americans will piss away $1,000 without even knowing where it went so to encourage people to stay away from Bitcoin all together is just passing on bad information. Silver is possibly more secure, but it will not be a viable form of currency especially when the price of silver goes over $10,000 per oz. Try buying a pack of cigarettes with a $10,000 oz. of siver and expect to get change back. Once a large online retailer such as Amazon starts to accept Bitcoin as payment you will be able to purchase everything and anything using Bitcoin. If the internet goes down temporarily you haven’t lost your Bitcoin, you just don’t have access and use of it while the system is down. If the internet goes down temporarily , the entire economy shuts down because everything runs off this technology so Bitcoin access may be your least concern. Everyone should have at least $100 in Bitcoin, within the next 5-6 years it may be worth well over $100,000, and it maybe your only means to easily transact for products and services you need to survive. A very small investment to make your future a Bit more secure!

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