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A well aged wine is usually not a bad idea if you have some money. In a deep crisis, cigarettes aren't a bad idea, they usually end up being a black market cur
by tscs37 9y ago
A well aged wine is usually not a bad idea if you have some money.
In a deep crisis, cigarettes aren't a bad idea, they usually end up being a black market currency. In other regions of crisis bullets might also be a good idea.
For a proper financial market with money, a good store of value might just be a long term savings account in a bank, that's a very stable value store and usually those keep up with inflation pretty well. If you can have a bit more risk there are index fonds and ETFs but those are more money making than store of value.
In places with weak economies it usually doesn't make sense to establish much of a store of value, bartering is more common and people just live with what they have, the accumulation of wealth beyond the daily necessary can be rare in some african countries.
BTC is also a bad solution since it's rather expensive, weak economies have more people who can't afford the rather extreme transaction fees (which are laughably high compared to EU SEPA transactions even at comparable confirmation times)
- waytogo 9y ago> For a proper financial market with money, a good store of value might just be a long term savings account in a bank Not sure. Look what 2008 happened: States had to rescue banks which would have gone bankrupt otherwise and because of this the entire economy/currency suffered. A FIAT saving account—even in a developed country/financial market—is a terrible store of value. > weak economies have more people who can't afford the rather extreme transaction fees When I look at Google Trends https://trends.google.com/trends/explore?q=bitcoin https://trends.google.com/trends/explore?q=bitcoin I see many weaker countries or low-income countries (South America, Russia) which have a quite high interest in BTC. The transaction fees don't hurt if it's just about putting your savings in a safe spot. The people are not going to buy groceries with BTC.