Topic: Grandma tell you to keep old coin in piggy bank - page 5. (Read 1064 times)

Because at that time the popularity of banks with their "interest" was very global, also strong doctrine influenced many people to save their money in banks.
In addition, banks are private companies, the government is only tasked with monitoring them.

Fortunately, today many campaigns are voicing smart investments, this is good for our next generation.

Physical cons have collectible value and it's the same for physical bitcoins, even collectible mining hardware. Old miners still have value even when they're completely unprofitable to run.

Shitcoin have no collectible value and most of them have value only because Bitcoin has. I wouldn't hold shitcoins especially the dying ones not only in an exchange but anywhere else. Once they are compromised and people see they have no real use they will keep going lower and lower even far below the value of 1 cent.

This is somewhat a non-sense thing though yet we dont need Bitcoin/crypto bank in the first place.Who the hell would use it up if we can be our own bank?

Of course banks would do things as they like and charge you up for storing or using up their service.What you do expect?

Keeping your cryptocurrencies to yourself in a long-term will definitely give you a benefit because what if bitcoin have increased it's price more than $20K, then probably you would be really rich if that happens, that is why every crypto user always say have a patience to hold all of your holdings for you to see it's true value.

Holding fiat money is not a wise decision, it is true that our parents and grandparents always telling us to save money. For me when they said that to me I always cringing because it is wrong for me. Why would I hold a scam money that backed by the government? It is better if I will invest it in speculative asset like cryptocurrencies and also passive income businesses like real estate.

This inflation helps our people need to circulate money wisely. Without inflation, the country does not seem to grow. Countries around the world expect inflation to increase steadily and reasonably. In Japan, people have to contend with deflation that has been going on for several years in 2012 and 2014. The government has had to try to motivate people with various financial measures to keep inflation rising. It seems the new lazy people want deflation to exist forever!

I honestly get your point that old coins would really have a good value in the future because the coin will be limited and cannot be produce anymore. Same goes to crypto that when you hold your coin for too long it will have a good value in the future. But if you keep it to a bank instead of keeping it to yourself the value of the coin will be the same. This situation thought us that we should learn to have a patience in a certain thing because it could be precious when the time comes.

What I think is , no matter where you keep your bitcoins , the value is gonna be the same , no matter it's in your wallet or in the bank ,
The Bitcoins will stay same in the value ,
The governmental coins are actually who change in value , also trust me the only way  to do that is to make people stupid and put up an auction online , custodial bank service I don't think it is gonna be that good .

===
Do you keep into the old American coins that your dads gave you for spending on your iPhone, fast food, soft drink soda, happy meal, Xboner, micro transaction, ..., I think it may worth a small fortune inside that piggy bank that you didn’t move for a millions years.
===

===
That’s hard to say, and why do you think some America eagle coin which have face value $ 50 could fetch... $ 1600 today?
===


===
Rolf, I had saw many shitcoin issues after the America eagle coin stop minting, most of them are made from nickels oxides but fetching high value too, aren’t they’re much shitting than today colourful coins?
===


===
You’re always encouraged to keep your bitcoin under my very own custodian banking service, it’s open 24/7, if you don’t know how to get start just kindly send me a PM, we have 100% satisfaction guarantee money back, and 100% refund protection in case of fraud, 100% depository insurance protection. 100% peace of mind.
===


===
Inside a bank of $ 1000 note and inside a piggy bank of random coins that pile up $ 1000, why do you think the money in the bank have more value than the random mixed of dog shit coins? May be you get a little over 2% if return for keeping with the bank, but the coins inside the piggy bank degrade overtime, some turn rusty some are actually not legal tenders, also some may even worth for scrap metal at best.
===




===
Is kinda wonder how bank could eat away the bitcoin through inflation, can they fake the bitcoin transaction, by technological advancement, may be the bank finally found a loophole and create more than 21m bitcoin supply, then they’re truly genius.
===




===
Correctly, I remember my bank told me to surrender the old bank notes before it cease to become a legal tender.
===

I have collected a lot of shitycoins for a long time although in small amounts because I believe that someday these coins price will go up, but let's be honest those shitycoins won't make you rich, well I'm just happy seeing lots of coins in my Electrum wallet. Honestly, Grandma's advice is more suitable for bitcoin or coins with a bright future. In April 2013 Bitcoin's price was about $266 so what Grandma said is true, keep your bitcoin and it would fetch a high value.

It is better to leave shitcoins behind and focus on profitable coins to keep for 10 more years. It will surely make a good profit unlike hoping for the best with shitcoins that aren't worthy and might be eliminated just too soon.

Doesn't matter where you keep your physical money, whether in piggybank or bank, it'll still lose value over time (unless of course we are talking about gold and silver coins). I see the same with BTC, wherever you keep it, it's still the same amount of BTC.

Though if you put them in a bank (assuming they handle BTC) they might slowly eat away at your horde through fees. Shitcoins on the other hand are shitcoins, that's what they are. They might get pumped once or twice and that's it. Better liquidate that money for something else rather than hold on to them.

If I had kept my piggy bank money in a bank account that accumulated interest since I was a kid, I'd probably have a decent amount of money right now.  Leaving coins in a jar for decades isn't going to make anyone any more money than what's in the jar, and even then inflation is going to eat away at its purchasing power.

Not sure about the crypto-piggy bank idea.  Bitcoin is only ten years old, and there's no telling how popular it's going to be in the future.  I suspect it will be, but there's no guarantee and I think there are better ways to save for the future than by saving bitcoin or any other cryptocurrency (and I'm not knocking crypto here, either).  I think stocks are still the way to go for retirement savings, for instance.  Anyway, interesting hypothetical here OP.

Not sure what the hell you are talking about. How do you keep your crypto currencies in a custodian bank service? As far as I know there is no financial institution that holds your coin. Even if that does exist, once you transfer your coins to them, it is not longer your "coins". Kinda sounds like you are also suggesting to store your coins in an online wallet which is not safe at all!

I fixed you have stated above, it should be a hardware wallet in keeping your crypto assets, especially in long term purposes.
You are right, keeping bitcoin in the long term will bring you a profit but in perfect time but I won't agree on keeping shitcoin will make you get profit. Once it is shitcoin, no one will develop on it and it will remain shitcoin. Just focus on a bitcoin investment, then your grandma will be proud of you.

This will depend on how long we can keep that coin, as it may still have no value in our entire existence since it's already not accepted or phase out or simply just the same with no interest at all but will surely have value in later generations just keep other generations informed so they can sell it.

Nope, our grandma tell thats thing because the old coin during she was child is cheap and now its expensive.
This is because in 1900-1950 the coin are limited production. The value of that coins will raise up so its make the price is expensive.
And also, the money collector can make the demand of limited coins raise up.

You can hold that old coins to make the high values in future, but you must holding until you become grandfather or the next generation until money collector want to search that coins.

Remember your grandma told you??

She said the old coins you keep inside your piggy bank would fetch high values in future, but the old coins you keep inside your trusted bank service, $ 1000 would be still $ 1000 after 20 years??

Do you know how old America eagle coins fetch many folds higher values than its face value??

What happens??

Now let’s look at this:

Keep your bitcoin and shitcoin under the custodian bank service

Vs

Keep your bitcoin and shitcoin in your online wallet

After 20 years, what will happens to the value in your bank vs the value in the wallet, and why on the bank is still the same?

Now will you tell your grand grand kids the same advices your grandma tell you, “my sweet child’s, keep your shitcoin and it would fetch high value!”