when credit collapses (which is what this is) then the price of things bought on credit will collapse. Real estate will not be a good store of value in the short term. Long term it is an excellent asset but don't think it will hold value though this.
Bitcoin....you have seen the volatility on it lately? And the other week the miners were all asked to rollback a recent build because the crypto broke? Bitcoin is for speculation, not wealth preservation.
> when credit collapses (which is what this is) then the price of things bought on credit will collapse. Real estate will not be a good store of value in the short term.
I agree.
> Long term it is an excellent asset but don't think it will hold value though this.
Do you expect people will stop needing roofs over their heads?
I agree that real estate seems silly. But I don't mean swapping houses. I mean buying few properties over course of your life, renting them and passing them to your children. That never was a bad strategy and fortunes of few most wealthy families come from that.
You don't care how much property costs if you never intend to sell it. You just have to find poor bloke to live there and give you better part of his pay whatever it is.
> Bitcoin....you have seen the volatility on it lately?
Sure I bought bitcoin near its peak 2 years ago just before it crashed. Guess what. Today, I'm still having a profit on them because I never sold them.
> And the other week the miners were all asked to rollback a recent build because the crypto broke?
Oh my! That surely must have cause the price to plummet! No? Huh. I guess it's not such a fragile eggshell.
> Bitcoin is for speculation, not wealth preservation.
Trading bitcoin is for speculation. Buying and holding bitcoin is wealth preservation. Bitcoin is as durable as useful p2p network. Which have pretty decent track record.
Given the young age of bitcoin then I would still suggest that buying and holding is still speculation. Good luck to you. Keep in mind though that the scale of your savings compared to others. What if Bill Gates wanted to sink some of his savings into Bitcoin? It would be a market moving event. What happens when he wants to exit?
Buying a few properties over your life at this point in time - presumably via credit is a risky proposition. People need roofs over their heads but they need food more. For an interesting perspective on property during a currency event - read Gonzalo Lira's description on Chile
