Friday, November 3, 2017

Survival Finances: So, did you buy Bitcoin when I told you to do so?


No? That’s ok. There’s still time.

I try to be very careful with my advice. You don’t see me telling people to run for the hills (or relocate to areas where a real estate broker friend of mine will sell you property and giving me a cut) When I firmly recommend a product, it’s because I truly believe it’s worth it.
Now from a practical survival perspective, Bitcoin is a powerful tool. Not in theory, not in the future. Today, bitcoin is used in places like Venezuela, where the entire society has basically collapsed into a nightmare of inflation, crime and corruption, ran by a dictator. If in that environment people find Bitcoin useful, then its empirical information, not theory.

I like empirical. Its not supposing, guesses or assumptions, it’s observation of facts.
A few weeks ago I did that thing I rarely do and gave actual financial advice by saying “some precious metals, investing in reliable stocks, investing in good real estate. And yes, putting some money in Bitcoin.” If you did put a few bucks in that Bitcoin basket back then, Bitcoin was around $3.400… Today its worth  $7.300.

As I said back then. Bitcoin is just one more tool to work with, but it may well be a game changing tool if it fulfils its prophecy as the global currency of the internet era. If it becomes that, if it becomes the gold of the digital era then the sky is the limit.

Or not. Don’t spend (like Gold, Bitcoin isnt an investment) more than you can afford to lose.
I like to see Bitcoin going up but to be honest I’m betting on it for the long run. Some people sold thinking that it peaked at $1000, then at $2000, Then $3000 and so on.  Like precious metals, but it and store it for that rainy day.

My advice remains. When funds allow it, buy a bit of precious metal here and there, same for some actual cash for a rainy day because cash is still king, and also put some in Bitcoin every now and then.
Enjoy the weekend folks.
FerFAL

Fernando “FerFAL” Aguirre is the author of “The Modern Survival Manual: Surviving the Economic Collapse” and “Bugging Out and Relocating: When Staying is not an Option”

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