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If it’s all speculation, where do you suggest I store my wealth? The underlying characteristics of bitcoin lead me to believe it’s the safest asset in existenc

If it’s all speculation, where do you suggest I store my wealth? The underlying characteristics of bitcoin lead me to believe it’s the safest asset in existence. It’s volatility is a result of people slowly discovering this.

readhn 9y ago
Ummm stocks, bonds, cash, real estate? Yes Bitcoin just like all other assets before that went parabolic will not end good. Storing your life savings in Bitcoin right now is a suicidal idea.
- etr-strike 9y ago
  Cash is guaranteed to depreciate at least 2% per year. Real estate is incredibly expensive and only supported by the cheap debt that has flooded our economy. Bonds are just barely above 0%... they have no place to go but down unless you think negative rates are possible. Stocks are incredibly expensive using every metric available. The rules of bitcoin are well understood and no one can manipulate them. I’ll take my chances, thanks.
  - readhn 9y ago
    Pull up long term BTC chart. Step aside and ask your self this : is this a good time to buy this asset or sell it? I think most people are late to the party and will simply get burnt by the market like so many times before. It's going to be a good show for sure. I'm watching this develop with my pop corn ready.
    - etr-strike 9y ago
      If I sold my bitcoin, I wouldn’t feel any better storing it in any of the asset classes you mentioned. Everytime I honestly evaluate what central banks have done around the world, I always arrive back at bitcoin. It’s my safehaven asset. I wish you well with wherever you’ve chosen to store your wealth.
  - astura 9y ago
    https://www.doctorofcredit.com/high-interest-savings-to-get/ https://www.doctorofcredit.com/high-interest-savings-to-get/
    - etr-strike 9y ago
      All of those "high interest" savings accounts are below 2%. Official CPI is 2.5% for 2017 -- and CPI underweights essentials such as housing and healthcare, all of which have gone up much more than 2.5%. Your savings accounts are all effectively negative yield. Why would I store my wealth there?
      - astura 9y ago
        You obviously didn't click the link because it specifically shows you accounts up to 5%. I mean, the friggin title is "Best High Interest/Yield Savings Accounts – Up To 5% APY"
        etr-strike 9y ago
        Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months. The lesser rates have similar terms - only earn 3.5% on balances up to 10k, you must make 12 purchases from your debit card per month. You must spend more than 1k from your debit card per month. You must log in to your account at least once or month. If you skip any of these things, your interest rate is 0.01%. This is your suggestion for storing wealth safely?
        659087 9y ago
        > This is your suggestion for storing wealth safely? Says the person who suggests that a highly volatile and risky cryptocurrency with a long history of crashes and manipulation is a "safe haven".
        etr-strike 9y ago
- jeffwass 9y ago
  >Storing your life savings in Bitcoin right now is a suicidal idea. Don't tell (or do tell) this family : https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/10/17/this-family-bet-it-all-on-bitcoin.html https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/10/17/t... "The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for the popular cryptocurrency"
659087 9y ago
Is this satire?
- astura 9y ago
  Poe's law strikes again.

readhn 9y ago

Ummm stocks, bonds, cash, real estate? Yes Bitcoin just like all other assets before that went parabolic will not end good. Storing your life savings in Bitcoin right now is a suicidal idea.

etr-strike 9y ago
Cash is guaranteed to depreciate at least 2% per year. Real estate is incredibly expensive and only supported by the cheap debt that has flooded our economy. Bonds are just barely above 0%... they have no place to go but down unless you think negative rates are possible. Stocks are incredibly expensive using every metric available. The rules of bitcoin are well understood and no one can manipulate them. I’ll take my chances, thanks.
- readhn 9y ago
  Pull up long term BTC chart. Step aside and ask your self this : is this a good time to buy this asset or sell it? I think most people are late to the party and will simply get burnt by the market like so many times before. It's going to be a good show for sure. I'm watching this develop with my pop corn ready.
  - etr-strike 9y ago
    If I sold my bitcoin, I wouldn’t feel any better storing it in any of the asset classes you mentioned. Everytime I honestly evaluate what central banks have done around the world, I always arrive back at bitcoin. It’s my safehaven asset. I wish you well with wherever you’ve chosen to store your wealth.
- astura 9y ago
  https://www.doctorofcredit.com/high-interest-savings-to-get/ https://www.doctorofcredit.com/high-interest-savings-to-get/
  - etr-strike 9y ago
    All of those "high interest" savings accounts are below 2%. Official CPI is 2.5% for 2017 -- and CPI underweights essentials such as housing and healthcare, all of which have gone up much more than 2.5%. Your savings accounts are all effectively negative yield. Why would I store my wealth there?
    - astura 9y ago
      You obviously didn't click the link because it specifically shows you accounts up to 5%. I mean, the friggin title is "Best High Interest/Yield Savings Accounts – Up To 5% APY"
      - etr-strike 9y ago
        Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months. The lesser rates have similar terms - only earn 3.5% on balances up to 10k, you must make 12 purchases from your debit card per month. You must spend more than 1k from your debit card per month. You must log in to your account at least once or month. If you skip any of these things, your interest rate is 0.01%. This is your suggestion for storing wealth safely?
        659087 9y ago
        > This is your suggestion for storing wealth safely? Says the person who suggests that a highly volatile and risky cryptocurrency with a long history of crashes and manipulation is a "safe haven".
        etr-strike 9y ago
jeffwass 9y ago
>Storing your life savings in Bitcoin right now is a suicidal idea. Don't tell (or do tell) this family : https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/10/17/this-family-bet-it-all-on-bitcoin.html https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/10/17/t... "The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for the popular cryptocurrency"

659087 9y ago

Is this satire?

astura 9y ago
Poe's law strikes again.