Bitcoin

[Folsom]

…but ultimately worthless like all Ponzi schemes.

I agree the science of it is brilliant, and it wasn’t designed as a Ponzi scheme, but it was never meant to be your “appreciating asset” either. And it will not be forever.

BTC brought me some amount of wealth over the years, and I’ll always be grateful. But I’m not going down with that ship.

That could be said for literally anything that people buy, ever. Supply and demand. There is nothing that could not be brought down to zero demand and have lots of supply or vice versa. I think you are neglecting the huge amount of physical investment in BTC. Frankly it FAR exceeds say light fixtures or AudioQuest cables for value to physical input on any sensible metrics.

When the "ship goes down" there will not be any safe currencies but guns, ammo, food, water, and gas/diesel/propane.

 

[Redwoodaudio]

That could be said for literally anything that people buy, ever. Supply and demand. There is nothing that could not be brought down to zero demand and have lots of supply or vice versa. I think you are neglecting the huge amount of physical investment in BTC. Frankly it FAR exceeds say light fixtures or AudioQuest cables for value to physical input on any sensible metrics.

When the "ship goes down" there will not be any safe currencies but guns, ammo, food, water, and gas/diesel/propane.

No, there is a difference between ponzi schemes (which are usually investments) and regular commodities/products with a real-world use case. The former only keeps its value if more investors keep buying in and will lose its value as soon as that pipeline slows down.

I had higher hopes for bitcoin a few years ago (as a digital currency), but now it's clearer to me that bitcoin as an appreciating asset is exclusively reliant on new entrants (mass market ETFs as the most recent example). Sure, you will always be able to trade it securely and relatively anonymously, but at $60k per BTC we are well into Ponzi bubble territory.

I've never considered my audio gear an investment, so even when there are multiple new versions out and new technologies even, it will still sound good in my home. My bitcoin was of absolutely no use to me anymore, in the real world.

Definitely agree with your last sentence though about the real coming social apocalypse!