The Problem with Bitcoin and Cryptos No One Talks About

The blockchain has an Achilles's Heel: its existence depends completely on electricity. Fiat has many, many problems, but at least it has a corresponding tangible 'analog' component. If you have the physical 'thing' you can do business. As a 'store of value' the Bitcoin and the crypto-currencies have utility, but if you can't access the Internet, because of a power outage, fried servers because of an EMP, hackers... so on and so forth, that stored wealth is useless from a practical point of view.

This is not a defense of fiat. Rather, its a word of caution that one should diversify their assets judiciously. For example, as mentioned in this video, I am migrating my crypto to Kinesis, which is a 'crypto' currency that is backed by physical gold--and this gold, in principle at least, is something I could take delivery of. But even there, that is not the chief place I have invested my wealth.

What is my chief asset? I explain in this video.