How to Thrive During the Next Economic Downturn…Bitcoin and Beyond!
Simple Strategies That May Bring Massive Dividends in the Future
Like any revolutionary or innovative advancement, there are risks in being an early adopter. The conversation around internet, email and social media was very similar to what we are hearing about this technology of digital currency and The Blockchain today. There are some big names like Overstock.com, Newegg.com, DISH and Expedia receiving payments in this internet-based currency. “Bitcoin was pegged in a report by Goldman Sachs as having the potential to reshape the financial industry” Forbes.
With the US treasury printing fiat currency “at will” and high amounts of both personal and national debt in our country, it seems that our economy and the Federal Reserve are not as stable and strong as we would like to imagine. There are many factors that contribute to these conditions, but the bottom line is it effects how small and medium businesses need to prepare for the future. According to Global Research Peter Schiff, CEO of Euro Pacific Capital and bestselling author of “Crash Proof,” believes the impending collapse of the United States dollar should be getting the attention of investors and news outlets…
So with this in mind, what should we do to protect our financial future as businesses and individuals? Three suggestions to create safety and stability in our specific ecosystem:
- Co-op: Never underestimate the power of genuine community. When times get tough, stay highly connected to a network that cares. There are some business or networking groups that fall apart during financial difficulty, but others thrive. As mentioned in previous posts, any kind of shared space, barter, trade, time bank or swap concept should be worth considering.
- Digital Currency: Decentralized technology as seen on Coinbase.com or Localbitcoins.com can be a little risky because of the unknown. However, as a hedge against possible fiat dollar stagnation, or even collapse, this kind of financial advancement may prove to be what helps us through the next economic downturn. With millions of Bitcoin wallets and over 100,000 merchants receiving digital currency in the world today, this may be one of the fastest computer-based social experiments since Facebook, PayPal or even the Internet itself!
- Precious Metals: Gold and silver as seen at www.goldsilver.com or www.apmex.com may seem like an odd investment in our modern age, but almost everyone will accept these rare currencies in exchange for goods and services, they may also increase in value. Some people make a living from buying and selling these historically valuable precious metals and this way of saving or investing will most likely be around for another several thousand years. Go for the gold!
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