4 ms·
One option missing from the list is using Bitcoin multisig in multiple countries with physical bank safe vaults. The Cyprus bail-in in 2013 was a wake-up call
by xiphias2 4y ago
One option missing from the list is using Bitcoin multisig in multiple countries with physical bank safe vaults.
The Cyprus bail-in in 2013 was a wake-up call for me that I don't legally own the money that I have in my bank, and I never looked back.
- organsnyder 4y agoWhat happens if the value of Bitcoin tanks? How is this different than hoarding gold, Pokémon cards, etc.?
- xiphias2 4y agoI never understood Pokémon cards, they have a marginal cost of 0 to print. With gold I have to trust 1 bank to hold it (generally the place where I buy it anyways, which is not secure), can't do multisig, and can't go through airports easily. About the value tanking: even if it tanks 90% more, it's holding its value great compared to when I bought it 10 years ago. These sound like theoritical things, but when storing real money all these problems get real.
- swatcoder 4y agoSuitable advice for people who see Bitcoin value as more stable than government-insured bank deposits held in USD, but that might not be so many people.