I know... this is a very bleak post.... I am really hoping it won't happen, but with people like Donald Trump around, the whole world seems more racist than ever, Europe and the UK more fragile than ever, global warming possibly causing the next ice age, bees dying out and causing a massive famine or maybe evil aliens are in mid transit as we speak?

In these situations it is always the poorer people who suffer the most, so I am thinking if there is anything I can do that could potentially save me and my family in a situation that caused a world financial meltdown like major war or other catastrophe?

I am looking mostly at Bitcoins, which I know can go up or down a lot from day to day, but generally seem to go up A LOT since they started... and in the case of a meltdown of our traditional banking systems I would assume they would absolutely explode as one of the only currencies not connected to the banks (Mr Robot being a nice although fictional example). In brexit month they almost doubled their value against the pound. So imagine something more serious? And if EVERYONE except those Bitcoin holders loses all their money for some reason (I'm not saying I would be happy about this) those bit coins would be priceless no?

Anyway just wondering am I right about this?

I am definitely not rich, but maybe 1,000 pounds in Bitcoin could be a good insurance, and even if there isn't any huge horrible event it looks likely to continue rising either way.

Side question, if I were to do this, what is the best method to get Bitcoin for a good rate and store it safely?
Originally posted by Dan03

Yep, it's a GP appointment for you tomorrow sunny Jim.


6/10 for 1st trolling attempt.

Try harder next time

Wow...... Didn't expect that response at all.......

First of all, I don't know that it is an elitist contruct, nore am I really sure what that even means??

Secondly, major wars happen on average several times per century, financial meltdowns even more, the other possibilities were becoming less and less serious which I thought that was obvious by the aliens comment... But still, major disasters happen all the time and with so many things that could potentially go wrong in modern times I'd say the possibility of one of them going wrong is very real.

Anyway.... that aside... If for any reason our financial system collaplsed, why would that not make bitcoin the only major currency to survive as it is running on a completely different system? As I said, when Brexit put doubt on the pound and the euro it almost doubled in value, so what would happen if something more serious happened?

If the world economy collapses or the hords from the planet Zog land what makes you think that the internet would continue to operate? Or come to that, would you be able to recharge your tablet/PC etc?


If for any reason our financial system collapsed
Originally posted by Dan03

If it did, I doubt you could pay your electricity bill in bitcoins so your electricity would be cut off and your 'puter would die and your bitcoin wallet would be unavailable.

As has been said, beans and bullets.


If the world economy collapses or the hords from the planet Zog land what makes you think that the internet would continue to operate? Or come to that, would you be able to recharge your tablet/PC etc?
Originally posted by Linton

In a total collapse or catastrophe, food and fuels are what you need and are the things which will have value.
Originally posted by ChesterDog

Maybe the problem with this topic is there are too many possibilities... I am more talking about an event that caused financial meltdown than some kind of all out armageddon which I think is much less likely.

But still, in previous world wars infrastructure was not completely destroyed, but reduced to such levels that caused many to die. Likely in these situations electricity would still work, as well as the internet to some extent, or it would be replaced by alternative networks.

Of course food and water will be the most valuable thing in a life threatening emergency, but filling up my cupboard with canned food isn't the most convenient, also could end up being just a waste of money...

Anyway, lets keep this on finance............ In a serious international crisis what would the new currency end up being?

Realistically, enrol yourself onto a RYA course for water navigation and get your yacht certificates and get yourself a small little boat... which you can fill with dried goods.

First sign of trouble, pull up the anchor and go offshore a bit while you wait to think about what to do next. At least you'll have somewhere quite defendable that's got room to sleep.

Also learn to fish and learn how to start fires. You can also use maps to identify small beaches/landing spots that are inaccessible by road.

In the meantime, you've got the little boat for your holidays....

In a world without money you'll need to be trading things with others ...


In a serious international crisis what would the new currency end up being?
Originally posted by Dan03

There would not be a new currency in the event of a financial crisis. As you yourself accept, the most important thing in those cases would be access to sufficient food and energy.

If you think filling up your cupboard with canned food could end up being just a waste of money - well buying £1000 of bitcoin is likely to be an even bigger waste - you can still eat the food after all.

If there is a financial/economic crisis, then whatever others will accept has value - in the UK, this is likely to remain GBP unless you want to hold gold and diamonds on the chance they will be accepted.

Of course, if you live in the Euro-zone I would definitely be holding other currencies/overseas assets as a hedge - I for one think its highly likely at least one country will leave the zone in the next few years..

In the event of a major nuclear war, the chances are you will be dead so no point worrying about it.

Who is online

Users browsing this forum: No registered users and 1 guest