At least in banks I can have something in return in case of bankrupt. But for cryptos, once the exchanges shut down or trading site (since currently majority of funds are on trading site because I do trades regularly) then slight chance that I can get back my lost coins.
Im not saying Im defending the bank here, just want to enlightened anyone that don't cross the line in terms of security as all assets are prone to loss. Still above all of the possible suggestions to save our savings, I will just keep it myself and take the responsibility if it's loss.
Topic: hold your savings in the cloud rather than at a bank. - page 2. (Read 900 times)
Source : http://www.zerohedge.com/news/2017-05-31/real-reason-own-bitcoin
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Quote
Think about it: when you send money to someone, those funds move from your bank, to the central bank, to another bank, and then finally to the recipient’s account.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Well, and where do you think your money go if the cryptocurrency collapses/goes bankrupt? It's pretty much the same.
Nothing is 100% safe. Gold can drop in price too, governments can seize it like it happened during Great Depression, national currencies often crash. In open market value of anything can change at any given time, because value is always relative. If you are worried about your savings, you should diversify your portfolio to prevent losing your money in case of some economic disaster.
Source : http://www.zerohedge.com/news/2017-05-31/real-reason-own-bitcoin
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Quote
Think about it: when you send money to someone, those funds move from your bank, to the central bank, to another bank, and then finally to the recipient’s account.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Well, and where do you think your money go if the cryptocurrency collapses/goes bankrupt? It's pretty much the same.
...
Sure, have some of your savings in the Cloud. I have some in BTC (in hardware wallets and the Cloud), but just have not had the time to look at any Alts.
But I would not have ALL of my savings there in cyberspace... I would have some physical gold hidden away, and SOME money in banks. There are lots of other legitimate investments to give you diversification. Diversification is extremely important IMO. If you can lower your debts, that is good too.
Sure, have some of your savings in the Cloud. I have some in BTC (in hardware wallets and the Cloud), but just have not had the time to look at any Alts.
But I would not have ALL of my savings there in cyberspace... I would have some physical gold hidden away, and SOME money in banks. There are lots of other legitimate investments to give you diversification. Diversification is extremely important IMO. If you can lower your debts, that is good too.
I think it would be better to save money in bitcoin ... in addition to be stored for safari ... and the money can be used for capital tranding ... and can make a good future ... thanks...
Source : http://www.zerohedge.com/news/2017-05-31/real-reason-own-bitcoin
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Quote
Think about it: when you send money to someone, those funds move from your bank, to the central bank, to another bank, and then finally to the recipient’s account.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This is the same way that money used to be transferred 800 years ago…
… which seems almost tragically anachronistic given that we have apps today to send funds directly to a recipient’s mobile phone or email address.
Who needs a middleman anymore?
Why should anyone borrow money from a bank when there are so many Peer-to-Peer and crowdfunding platforms available?
Why pay exorbitant fees and commissions to exchange currency when there numerous websites that exchange money at almost no cost?
Banks as financial intermediaries are about as quaint as taxi dispatchers in the age of Uber.
Cryptocurrency and Blockchain technology are the final nails in the coffin, making it possible to hold your savings in the cloud rather than at a bank.
This article has the same goal than me when i read the first agression-law (Europa - end of 2013) that it can take (my) saving from bank in case of bankrupt (of the bank).
At this date, all my saving have been stored in crypto-space to evade from this agression-law.
Jump to: