Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. Thats also one way to describe the current economy at this stage. With the worlds economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.
I agree with you, sir CryptoDoomslayer_69, there are many brewing pots all around the world right now and we don't know yet exactly when things will get worse but years from now things will be exploding right before our eyes. I am talking about the global economy and our changing political landscape. A great conflagration is about to occur that can affect all mankind...will it be another world war?
So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day-to-day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people dont have such a stash. Things can get ugly real fast.
This is the reason why I am learning to farm skills so that if the money I am holding would have nothing to buy then I can still have something to eat and live, and then be a witness to this part of our history. Don't worry, I am going to update you guys in this forum for developments.
Yes, we can go back to the barter system, that has no problem with me so that people will go back to being producers and providers. Don't worry about it, humans are known to be great improviser at least we have YouTube to watch for some guidance on many how-tos. Are we returning to becoming primitive soon?
Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.
In the doomsday scenario, I think everything will be worthless and storing gold/silver can be a problem as they can be the reason why some robbers can be after you. Nah, better store up foods and since we might not have any internet connection at that time then there is a problem connecting to our wallets. I am not so sure if people will even prefer to accept Bitcoin at this situation...maybe there is a bigger chance that foods can become the currency which is true yes in the barter system. Now, I still have to ask if CZ is willing to open Binance if there will be nuclear attacks all over.