Quote from: lophie on November 19, 2013, 04:42:09 AM

Quote from: jbreher on November 19, 2013, 12:39:07 AM

Quote from: Astrohacker on November 19, 2013, 12:04:11 AM

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

Today I took a piece of paper saying I own stocks in apple and wiped my ass with it, indeed tangible wealth!
and how dare you call Bitcoin just a "Currency" and compare it to the worthless fiat? Bitcoin is a digital commodity and it is as tangible as everything else, I just carried my phone with mycelium wallet and it is quite heavy for a non tangible asset.

Not Sure If Serious. (sorry - no clever gif of Frye at hand).

My point is that when the legacy financial system goes tits-up (which I envision will most certainly be through hyperinflation), shares of companies and (e.g.) productive farmland will still have value. Maybe less so for the stocks, as commerce will be difficult for some time. But merely destroying the system's currency will not make land and capital equipment vaporize.