4 ms·

well i would hope so, a normal savings account has 0 risk. im not sure this is a great argument to hold some bitcoin lol

sneak 10mo ago
A normal savings account does not have zero risk.
- bangaladore 10mo ago
  What risk are you taking on with a normal savings account? If you are saying the global collapse of the financial system, crypto will be the first to fall in that case. Crypto like BTC is pretty much a more volatile market tracker.
  - anon7725 10mo ago
    Inflation risk.
    - bangaladore 10mo ago
      I think most people would accept inflation as less of a risk then 20+% swings of the crypto market on a fairly common basis.
      - sneak 10mo ago
        If they’re that common, it’s easy to profit 20% from them.
        bangaladore 10mo ago
        That makes absolutely zero sense, and you know it. I understand you are here to essentially shill bitcoin given you have a company that exists because of it but at least argue in good faith.
  - clbrmbr 10mo ago
    Ofc a savings account has risk in real terms. But I assume GP was referring to risk in terms of losing principle in dollars. There’s still some risk short of a global financial collapse where the FDIC rules are weakened, perhaps by making the $250k limit per individual for example, and then there being some bank failures. Or changing to only covering a certain % of deposits etc.
    - anthonypasq 10mo ago
      dont bother, hackernews commenters are constitutionally incapable of not being the most pedantic person in the room.
      - bangaladore 10mo ago
        I believe there was an implication of the commenter I responded to that the risk of a savings account is somewhat similar to the risk of crypto. So, I asked said commenter to quantify or describe the risk. A comment simply with the text "A normal savings account does not have zero risk." is useless to a productive conversation.
  - teekert 10mo ago
    Currency depreciation due to inflation is one.
  - sneak 10mo ago
    Forcible illegal deportation is one. ICE grabbed a US citizen friend of mine and threw her on a bus and drove her hundreds of miles away and was about to toss her over the wall to Mexico last week. Civil asset forfeiture is another. Tax warrants, which have zero burden of proof to be issued, are another. I don’t keep money in banks, personally, after the third one bit me some years ago and I realized that storing money in banks makes it more likely to be stolen, not less.
mikewarot 10mo ago
Because of inflation, a normal savings account is a depreciating asset. It used to be different, but in the land of near zero prime interest, and phony inflation numbers, that's the way it sits. Also, the risk isn't zero, just way closer to zero than that of Bitcoin or other crypto, in my opinion.
teekert 10mo ago
Through some coincidence I started with 80€, now it’s 20k. Maybe someday it’ll buy my kid a house. Then I’ll take it out. If I loose it all, I don’t care.

sneak 10mo ago

A normal savings account does not have zero risk.

bangaladore 10mo ago
What risk are you taking on with a normal savings account? If you are saying the global collapse of the financial system, crypto will be the first to fall in that case. Crypto like BTC is pretty much a more volatile market tracker.
- anon7725 10mo ago
  Inflation risk.
  - bangaladore 10mo ago
    I think most people would accept inflation as less of a risk then 20+% swings of the crypto market on a fairly common basis.
    - sneak 10mo ago
      If they’re that common, it’s easy to profit 20% from them.
      - bangaladore 10mo ago
        That makes absolutely zero sense, and you know it. I understand you are here to essentially shill bitcoin given you have a company that exists because of it but at least argue in good faith.
- clbrmbr 10mo ago
  Ofc a savings account has risk in real terms. But I assume GP was referring to risk in terms of losing principle in dollars. There’s still some risk short of a global financial collapse where the FDIC rules are weakened, perhaps by making the $250k limit per individual for example, and then there being some bank failures. Or changing to only covering a certain % of deposits etc.
  - anthonypasq 10mo ago
    dont bother, hackernews commenters are constitutionally incapable of not being the most pedantic person in the room.
    - bangaladore 10mo ago
      I believe there was an implication of the commenter I responded to that the risk of a savings account is somewhat similar to the risk of crypto. So, I asked said commenter to quantify or describe the risk. A comment simply with the text "A normal savings account does not have zero risk." is useless to a productive conversation.
- teekert 10mo ago
  Currency depreciation due to inflation is one.
- sneak 10mo ago
  Forcible illegal deportation is one. ICE grabbed a US citizen friend of mine and threw her on a bus and drove her hundreds of miles away and was about to toss her over the wall to Mexico last week. Civil asset forfeiture is another. Tax warrants, which have zero burden of proof to be issued, are another. I don’t keep money in banks, personally, after the third one bit me some years ago and I realized that storing money in banks makes it more likely to be stolen, not less.

mikewarot 10mo ago

Because of inflation, a normal savings account is a depreciating asset. It used to be different, but in the land of near zero prime interest, and phony inflation numbers, that's the way it sits. Also, the risk isn't zero, just way closer to zero than that of Bitcoin or other crypto, in my opinion.

teekert 10mo ago

Through some coincidence I started with 80€, now it’s 20k. Maybe someday it’ll buy my kid a house. Then I’ll take it out. If I loose it all, I don’t care.