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Banks are not good at storing value over time, that's why institutions and high net worth individuals are searching for alternatives. Banks store government mo
by panarky 6y ago
Banks are not good at storing value over time, that's why institutions and high net worth individuals are searching for alternatives.
Banks store government money which depreciates gradually in good years, and devalues rapidly in bad years. It's all one direction, toward zero, it never gains value.
On top of the relentless depreciation, add the risk of bank insolvency.
Banks are terrible stores of value.
- cosmotic 6y agoAre you referring to the low interest rate? I suspect that depends largely on which bank/currency you're referring to. Bitcoin sure doesn't fair very well, except if you invest at the right time. The bank is a known quantity.
- panarky 6y ago> Bitcoin sure doesn't fair (sic) very well, except if you invest at the right time Historically, you could have bought 99.8% of the days Bitcoin existed and you would be up today.