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Without bitcoin I would still advise putting savings in stocks, bonds, a little precious metals maybe. I don't see bitcoin as savings as much as a currency or
by notch656a 5y ago
Without bitcoin I would still advise putting savings in stocks, bonds, a little precious metals maybe. I don't see bitcoin as savings as much as a currency or insurance policy against all your material assets and bank accounts being seized and/or stolen.
>that can be transported out of the country.
There's a lot of value in this though, no? The 10k limit on undeclared financial instruments held in your personal custody through customs and KYC/AML laws in banking mean crypto fits a big void that was previously much harder to fill.
- analog31 5y agoWould those stocks be denominated in Syrian currency, or something else? Indeed, as I've said in the past, money is a technology, and different technologies can be applied to different purposes. The "major" world currencies are designed to be used as a temporary store of value, medium of exchange, and instrument of economic policy. Bitcoin could be applied towards different purposes. >>> There's a lot of value in this though, no? Sure, a subsidy is by definition a source of value.
- notch656a 5y agoStocks would continue to be denominated in shares. I've never heard of a stock being denominated in currency, but maybe there is one out there like that. A share is usually something like I own 1/N of the interest in the company so the formula of ownership is m/N where m is number shares you own and N is the number of total shares (some simplification here, but roughly accurate). Market clearing determines how much people will pay for a stock, which happens in all sorts of currencies.
- analog31 5y agoAh, that's fair.