Even as a crypto-sceptic I must give you some serious props for a very well-thought out and written comment.
I found this somewhat persuasive.
But despite being very well written, all this does is say why not fiat.
If you're looking for a store of value, why not gold?
If you're looking to put the money to work, why not value-creating such as real-estate or stocks, growing the wealth through value-creation?
OP doesn’t cover btc as a native machine<>machine or digital economy discrete value transfer mechanism. Gold can’t do that, presumably computers will still be around post-default though so the need exists. People will pay each other with venmo still, just maybe not redeemable for fiat vs crypto.
Gold would be great but in the US, it's practically uninvestible unless you have a lot of money in a IRA (a tough feat given the yearly contribution limit). Gold is taxed as a collectible. your "gain" is taxed at 28%. But, gain isn't gain anymore. all that so called gain is just your principle when the dollar value goes from 50K to 1 million but your purchasing power is the same as before. so you'll loose 28% of your principle in the long run, if you hold it outside of an IRA.
Real estate also sounds promising. I'd love to own real estate over bitcoin. but, have you actually done it? i mean buy property as an investment. i have a real estate buddy that just told us an hour long horror story of all the stuff that can go wrong with buying and holding real estate, the renting issues truely are the stuff of horror stories are made of.
So, all that's left is equities and bitcoin. and I don't want everything to be in equities.
I found this somewhat persuasive.
But despite being very well written, all this does is say why not fiat. If you're looking for a store of value, why not gold? If you're looking to put the money to work, why not value-creating such as real-estate or stocks, growing the wealth through value-creation?
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