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Like you sold everything for USD or withdrew to cold storage?

SpikeDad 4y ago
Yes. The twin anxiety makers - crypto volatility and threat of Coinbase bankruptcy made my decision to convert everything to cash.
- daniel-cussen 4y ago
  Cash is great, cash is the new gold. Before they were printing money, last millennium. This millennium, they just shift numbers to the left, on a computer. It's all numbers in your app. This is currently considered better, but is much worse. $20 at most, bigger denominations aren't worth much. I wouldn't accept $100 as payment without someone to verify it, or going together to a bank to deposit it. And like the bills have to be in pristine condition, always complain if someone is trying to give you a damaged bill, that limits its spendability. Gotta know the bills well, maybe ask your bank if they can let you see for yourself the difference between real and fake bills so you can tell the difference. Banks can always get fresh bills by turning in your old ones, to keep up their condition. Plus newer bills have better copy-protection, and are therefore easier to verify. And guess what? Your purchases will generally not be traced if you pay cash. This is important for books, stationary, electronics, medicine, and charity.
  - mr-pink 4y ago
    why is it important for charity?
    - daniel-cussen 4y ago
      So people don't know how much you're giving.
  - SpikeDad 4y ago
    You're paranoid. I have no issue with credit. I pay for everything with Apple Pay and online banking. I limit my online tracking using sensible tools that are available but I don't go to extreme. My decision had nothing to do with having cash, merely not wanting to be part of the insane volatility of Crypto and the potential loss of assets should Coinbase go bankrupt (which is a very non-zero possibility). Cash is merely the buffer to pay expenses until markets start to return to profitability at which point I'll move it all back to my usual safe index funds and Apple stock (aaaaaaahhhhh). 8-)
    - daniel-cussen 4y ago
      I am in fact paranoid. Clinical. Diagnosed. The works. But I've also gotten out of shitty situations with that paranoia. Another way to describe it is "pessimistic creativity". But I am also risk-seeking, so the whole thing is being totally paranoid strictly in the situations that are actually dangerous, and apart from that, like if there's a threat go to the bunker and stay there as long as it takes without compromises and no regard for peer pressure, apart from that...roam downtown Santiago at 3 in the morning because it's no big deal. I'm no fraidy cat. Fear what you have to fear, forget about everything else.

Yes. The twin anxiety makers - crypto volatility and threat of Coinbase bankruptcy made my decision to convert everything to cash.

daniel-cussen 4y ago
Cash is great, cash is the new gold. Before they were printing money, last millennium. This millennium, they just shift numbers to the left, on a computer. It's all numbers in your app. This is currently considered better, but is much worse. $20 at most, bigger denominations aren't worth much. I wouldn't accept $100 as payment without someone to verify it, or going together to a bank to deposit it. And like the bills have to be in pristine condition, always complain if someone is trying to give you a damaged bill, that limits its spendability. Gotta know the bills well, maybe ask your bank if they can let you see for yourself the difference between real and fake bills so you can tell the difference. Banks can always get fresh bills by turning in your old ones, to keep up their condition. Plus newer bills have better copy-protection, and are therefore easier to verify. And guess what? Your purchases will generally not be traced if you pay cash. This is important for books, stationary, electronics, medicine, and charity.
- mr-pink 4y ago
  why is it important for charity?
  - daniel-cussen 4y ago
    So people don't know how much you're giving.
- SpikeDad 4y ago
  You're paranoid. I have no issue with credit. I pay for everything with Apple Pay and online banking. I limit my online tracking using sensible tools that are available but I don't go to extreme. My decision had nothing to do with having cash, merely not wanting to be part of the insane volatility of Crypto and the potential loss of assets should Coinbase go bankrupt (which is a very non-zero possibility). Cash is merely the buffer to pay expenses until markets start to return to profitability at which point I'll move it all back to my usual safe index funds and Apple stock (aaaaaaahhhhh). 8-)
  - daniel-cussen 4y ago
    I am in fact paranoid. Clinical. Diagnosed. The works. But I've also gotten out of shitty situations with that paranoia. Another way to describe it is "pessimistic creativity". But I am also risk-seeking, so the whole thing is being totally paranoid strictly in the situations that are actually dangerous, and apart from that, like if there's a threat go to the bunker and stay there as long as it takes without compromises and no regard for peer pressure, apart from that...roam downtown Santiago at 3 in the morning because it's no big deal. I'm no fraidy cat. Fear what you have to fear, forget about everything else.