Quote from: foreverD on June 23, 2011, 01:05:31 PM

Quote from: relative on June 23, 2011, 12:33:35 PM

bitcoin needs infrastructure. in fact, very complex and vulnerable infrastructure.

Complex, yes. Vulnerable no. Localized internet outages do not threaten bitcoin's long term value. It would require a massively catastrophic event to destroy the entire internet, worldwide, permanently. An event that would almost certainly also destroy the infrastructure protecting your gold: bank vaults, police forces, transport systems, electricity grids, etc.

...unless you are the survivalist type who lives in the woods and buries his gold in the ground.

I agree. I highly doubt that even in the worst of case when/if the fiat currencies start to collapse in itself, entire network of internet infrastructure will be offline for a prolonged time to effectively stop the bitcoin trade long enough to bring it's value to nil. I'm seriously hoping for a new type of technology to develop where we can connect to the internet via p2p or open wireless type of structure without central nodes. That would 100% insure the bitcoin network never going offline without an ounce of doubt, but the technology in development may be bit more down the future. Namecoin is definitely a start in the right direction in that aspect. If anything, the signs of terrible things to come in the events preceding the possible collapse should urge the general public to seek out and develop such technology out of necessity.