Quote from: CoinCube on Today at 05:41:09 AM

Quote from: somac. on Today at 04:47:23 AM

It's people like you that will support the price and create a bottom. Much respect for the way you have handled things.

Thanks it has worked for me.

I think it also helps to look at history. Historically alternatives to the official government approved money have done poorly in times of severe economic distress as debts are denominated in government money and they must be serviced. Silver for example declined by over 60% in the great depression.

https://seekingalpha.com/article/4352389-silver-prices-during-great-depression

Silver bounced back rapidly after it crashed climbed until the mid 30s when the president made illegal to own silver bullion and via executive command with executive Order 6814.
https://en.wikipedia.org/wiki/Executive_Order_6814

History rhymes so I expect bitcoin to do very poorly at least initially in a depression which we may be entering into very soon. Bitcoin is also volatile by nature as it is new and its declines will be compounded buy greed and leverage and the many scams in the altcoin space that will fall apart in a prolonged decline.

Longer term I would not be at all surprised if many years down the road when fiat truly fails and some centralized gov coin version 2 or 3 is rolled out as a reset there will be some similar executive order outlawing private possession of BTC so it can be transferred to the government to be exchanged for gov coins.

If I needed fiat in the next year I would sell BTC now even though it is a terrible price. However, long term I think BTC has a very promising if rocky road ahead. I don't need fiat and hope to buy more BTC so bring on the clearance prices.

Interesting indeed. I did not know about silver during the depression. I agree with you on everything of course, definitely a great opportunity for those who can invest for the long term.