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If I said to you, create your own money, what would that be worth? Who would want to exchange goods and services against that? The whole ‘point’ of money is that you can avoid the whole issue of I have bread and I need shoes but you need apples. Money is a universal mode of exchange.

If you possessed the programming skills required, you could make your own crypto-currency. There are a number of them out there, and their numbers are increasing. The first and probably still the most popular, Bitcoin, says that it has [or will have] a cap. Only a certain number of Bitcoins will ever be ‘mined’. Whatever.

The other cryptos have no such pledge. They will continue to expand indefinitely. We potentially end up with hundreds, or thousands of crypto-currencies that essentially mimic the fiat currencies that we currently have. Like we trust government, we would need to trust the programmers. Well we know where trusting government has got the world as far as ‘money’ is concerned…an endless inflation.

Predicting the future is not easy. In fact, it is pretty much a futile undertaking. Every now and then someone gets lucky and makes a big call. However, with a few caveats, looking at and thinking about history is a far easier proposition.

Gold and silver have been with us for thousands of years and served admirably as money during that time. It is reasonable to suppose that they could do so again. If I was selling something, anything, and a buyer came to me and said I’ll pay you your asking price in gold or silver, would I accept them as ‘money’? Yes I would. I have no qualms about holding money wealth as gold or silver, even up to 100%. Would I accept Bitcoin? In a very small amount and it would because I’d be willing to take a gamble that it might rise in value so that I could sell it or trade out of it at some point. How much would I hold, a small % of my weekly income. That’s it. I have confidence that gold or silver will continue for ever. Bitcoin, who knows, as for the rest, forget it.