Best of the Week
Most Popular
1. Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - Nadeem_Walayat
2.Gold Price Forecast 2018 - February Update - Nadeem_Walayat
3.Bitcoin Crypto Currencies Crash 2018, Are We Near the Bottom? - Nadeem_Walayat
4.Trump Bubble Bursts, Stock Market Panic Dow 1175 Point Crash Analysis - Nadeem_Walayat
5.Gold Corrects, Bitcoin Markets Crash, Whilst Stocks Plunge - Nadeem_Walayat
6.US Treasury Bonds: Fuse to Light the Bonfire - Jim_Willie_CB
7.Dow Falls 666 Points As Cryptocurrencies Crash And Krugman Emerges From His Van - Jeff_Berwick
8.Stock Market Roller Coaster Crash Ride Down to Dow Forecast 23,000 - Nadeem_Walayat
9.Trading the Shadows - Oil, Dollar, Stocks, Gold Trend Analysis - B.R. Hollister
10.Stock Market Analysis: Baying for Blood - Abalgorithm
Last 7 days
1 Week Later, Stock, Bond Market Risk Remains ‘On’ as 2 of 3 Amigos Ride On - 17th Feb 18
Crude Oil Prices: A Case of Dueling Narratives? - 17th Feb 18
Free 1000 Youtube Subscribers Services - YTpals, Subpals, SubmeNow Test - 17th Feb 18
How to Trade as We Near March Stock Market Top - 16th Feb 18
Bitcoin as Poison - 16th Feb 18
GDX Gold ETF Weathers Stock Market Selloff - 16th Feb 18
Casino Statistics and Demographics - 16th Feb 18
IS Today Thee Stock Market Turn Day? - 16th Feb 18
Huge SMIGGLE Shopping HAUL, Pencil Cases, Drinks Bottles, Back Packs, Toys.... - 16th Feb 18
Tesla Cash Keeps Burning at $320 a Share - 15th Feb 18
Big Conflict Ahead in the Financial Markets - 15th Feb 18
Stocks Extend Rally Off Friday's Low, But Short-Term Exhaustion Near - 15th Feb 18
Stock Market Out on a Limb... - 15th Feb 18
Things Only a True Friend Would Say About Gold - 14th Feb 18
Global Debt Crisis II Cometh - 14th Feb 18
Understanding Crude Oil Behavior - 14th Feb 18
Stock Market is Getting Scary... - 14th Feb 18
Stock Market - This Time is Different. Really?! - 13th Feb 18
Gold and Silver Long-term Buy, Short-term Sell Signal - 13th Feb 18
SPX Futures Are Sliding... - 13th Feb 18
Stock Market Topping Process Begins. The Bubble Finds its Pin - 13th Feb 18
Math Behind the Stock Market Crash and What’s Next – PART2 - 13th Feb 18
Gold Stocks Groundhog Week - 13th Feb 18
Platinum Looks Poised for Surprising Gains This Year - 12th Feb 18
Friday's S&P 500 Stock Market Bounce To Continue, But Selling May Resume - 12th Feb 18
The Inflation Trade and Bond Yields Rising Result in Equities Correction - 12th Feb 18
February 2018 Stock Market Crisis – What Next? - 12th Feb 18
How To Profit From The Bitcoin Bloodbath - 12th Feb 18
The Philippine Economic Dream Could Be Within the Reach  - 12th Feb 18
Is the Stock Market Correction Over? - 12th Feb 18
What Does the Stock Market Decline Mean for Gold - 12th Feb 18
Addicted to SMIGGLE Mega Review, Pencil Cases, Stationary, Back Packs, Drinking Bottles, Toys... - 12th Feb 18
Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - 11th Feb 18
The Fed’s Impossible Choice, In Three Charts - 11th Feb 18
US Stock Market, Gold, Silver and the Macro Backdrop - 11th Feb 18
After Two weeks of Stock Market Decline, People Are Ssking, “Are We There Yet?” - 11th Feb 18
How to Grow Tomatoes From Seeds, Homegrown Organic Money Saving Gardening - 11th Feb 18
Youtube KILLS ALL Small Channels with New DeMonetization Rules - 11th Feb 18
Lot of Stock Market Damage to Be Caused before New the Fed Chief Will React - 10th Feb 18
Best Ways to Make Money - 10th Feb 18
Stock Market Selling Unleashed! - 10th Feb 18
How to Get Free Youtube Subscribers to Get to 1000, YTpals, Subpals, SubmeNow, Do they Work? - 10th Feb 18
Stock Market Buy or Sell? This Insight May Help You Decide - 9th Feb 18
Stock Market Roller Coaster Crash Ride Down to Dow Forecast 23,000 - 9th Feb 18
What Is Stock Market Volatility Telling Us Now? - 9th Feb 18
Crude Oil $100 Price in 2019? - 9th Feb 18

Market Oracle FREE Newsletter

Urgent Stock Market Message

A Response to “Bitcoin Won’t Work When SHTF”

Currencies / Bitcoin Mar 15, 2017 - 02:17 PM GMT

By: Jeff_Berwick

Currencies

I’ve been commenting a lot on bitcoin lately as it has had an amazing and volatile week.

One thing that I keep noticing in the comments, though, is at least one or two people always chime in and say, “Bitcoin is screwed when SHTF”.


SHTF is short for “$hit Hits The Fan” and generally means the time when the dollar collapses and the US, and many other areas, turns into a zombie apocalypse.

Of course, when the US dollar collapses, we will most likely see many areas of the US turn into a real life version of World War Z as drugged up, fluoridated, vaccinated, dumbed down Americans roam the streets once their EBT cards are turned off.

And, yes, this is not only a possibility but a very real probability in the coming years. The US government, CIA and Pentagon have been planning for this eventuality for a while.

But, when this happens, will bitcoin be “screwed”?

Well, there are a number of variables to think about.

There are many ways the “S” could “HTF”. For example, the US government may pull a 9/11 part II and do a false flag EMP attack as things get bad enough to turn off the power so Americans can’t tell the world about what is going on.

If that were the case there wouldn’t be any power, possibly for years, in many parts of the US.

And, yes, this would be very bad. In fact, if you lived in any major metropolitan areas where there was no power, the last thing you’d be thinking about is bitcoin. You wouldn’t be thinking about gold either. Nor would you be thinking about much else, other than how many rounds of ammo you have and where your food supply was stored.You’d be too busy running from the zombies to care about anything else.

But, even in this situation, that would likely just be the US, and possibly some surrounding areas. The rest of the world would still have power and they’d be able to easily access their bitcoin.

Other “SHTF” situations could include a worldwide nuclear war. This also is actually a very real possibility. Thanks to governments across the world we actually sit on the edge of annihilation.

But, if that were to happen, bitcoin wouldn’t be the only thing that would be “screwed”. Everything and everyone would be “screwed”. So why just point out bitcoin as being “screwed” in a SHTF situation?

It leads one to ask, are these people posting on bitcoin articles about bitcoin being “screwed” when the SHTF also posting on other sites? Like on sports sites? When an article talks about how the Yankees beat the Red Sox, are these same people on there posting, “Baseball is screwed when the SHTF!”

It’d seem rather insane, or at least very negative, to be posting about the apocalypse on a baseball story… so why do it on a bitcoin story?

The reason is because these people have a subconscious hatred for bitcoin because a) Gold has not performed as well as bitcoin and b) because they missed out on the massive gains to date.

To those people, you need to let go of your hatred. Your hatred manifests in your own body and people just really won’t even want to be around you as you shout at the TV every time they say bitcoin has hit a new all-time high.

And, as well, your obsession with SHTF scenarios is also not healthy. As I said above, the scenarios are very real. But they also may not happen.

Who knows, perhaps people across the world will begin turning their backs on government and central banks and adopt bitcoin as their currency of choice. In this situation, we may have a few months of massive change and some crises, but very quickly, the world would move onto being more peaceful and prosperous than any of us can imagine today.

That’s what I’m trying to do. I’m trying to move things in that positive direction.

The SHTF bitcoin haters, though, would rather sulk and obsess about apocalyptic scenarios where they won’t have to think about how stupid they were for ignoring bitcoin since 2011.

Get rid of the hate, buy some bitcoin and join the revolution. You’ll like yourself more and others will like you too.

Or just keep posting “Bitcoin is ‘screwed’ when SHTF” and look like an idiot.

We have written a book, called Bitcoin Basics (click here for more) to help get you up to speed if you want to do the right thing… and, maybe like we have been doing for 6 years now, you’ll also profit handsomely from it.

The choice is yours.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2017 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules