Why I Cancelled Bitcoin for Permanent Portfolio (For now)
Channel: Marc De Mesel
Date: 2013-06-04

- If bitcoin becomes mainstream currency then it will impact Permanent Portfolio negatively. However it needs to first grow into the trillions before the negative impact will start to be felt.
- Better confiscation protection that bitcoin offers does not outweigh the extra currency risk.
So first bitcoin needs to grow from the current few billion market cap into the hundreds of billions. I would say implementation needs to be done the latest when it hits 1 trillion because after that it can grow quickly to ten trillion which would start really hurting some major assets in the Permanent Portfolio, likely cash, gold and maybe even stocks and bonds.
- Link to discussion on Permanent Portfolio Forum about implementing bitcoin: http://gyroscopicinvesting.com/forum/...
- Correction: I said Switzerland will hand over your assets if the court order 'is anything else' than tax evasion. That is not correct, if the court order accuses you of criminal act, only then will the Swiss also confiscate your assets and possible hand it over to other authorities.  However, do note that being accused of a criminal offense is easy these days. Money laundering for example you can have done without even knowing (accepting money that was used before for illegal activity).