Yeah man, this is a good point. Nothing is ever truly safe if it isn't in your hands, in your possession. Same goes for bitcoin, and probably more so than fiat. I can't hold bitcoin in my hands as I can gold, silver, cash. Even if I'm holding a Casascius coin, it only represents value, I still have to go to a network system to retrieve or use the bitcoin stored on that coin. And in a lot of cases the blockchain is more dangerous than governments, while there isn't a government behind it (that can be corrupted) there's no one with central control so if it breaks or disappears no one has any ownership of fixing it. There's no one to "attack" publicly for mistakes made.
I think diversification is the best move. Don't put everything in one place so that if that one place falls apart you aren't left with nothing!
Topic: True Wealth Ownership: Greeks and Chinese Learn the Hard Way (Read 415 times)
True Wealth Ownership: Greeks and Chinese Learn the Hard Way
Think your money is safe in the bank? In stocks? In bonds? Think again.
To put it simply, when you store wealth with traditional financial institutions there is no guarantee of future access. Governments and banks can freeze or seize your funds at will. If your government decides you shouldn't have access to your funds anymore then there is no recourse, your family's wealth is gone. Furthermore, with traditional currencies, governments have sole control over the monetary supply, and through the creation of more currency they essentially devalue any funds you currently hold. The current system relies on trust, trust in your government and institutions to act responsibly to protect your wealth. In America and much of the developed world, citizens overwhelmingly trust their governments to act in their best interests, but in places where that trust has eroded, the system fails.
https://www.coinprices.io/articles/true-wealth-ownership-greeks-and-chinese-learn-the-hard-way
Think your money is safe in the bank? In stocks? In bonds? Think again.
To put it simply, when you store wealth with traditional financial institutions there is no guarantee of future access. Governments and banks can freeze or seize your funds at will. If your government decides you shouldn't have access to your funds anymore then there is no recourse, your family's wealth is gone. Furthermore, with traditional currencies, governments have sole control over the monetary supply, and through the creation of more currency they essentially devalue any funds you currently hold. The current system relies on trust, trust in your government and institutions to act responsibly to protect your wealth. In America and much of the developed world, citizens overwhelmingly trust their governments to act in their best interests, but in places where that trust has eroded, the system fails.
https://www.coinprices.io/articles/true-wealth-ownership-greeks-and-chinese-learn-the-hard-way
Hopefully the citizens start learning from the fact money in the bank means money prone to be victim of big haircuts, capital control etc. The Argentinians are vastly versed on this matter, hence why in Argentina Bitcoin is a big thing and there's tons of activity happening. But make no mistake, those making use of Bitcoin are still a small minority of in-the-know geeks or people that know about investments and have a knowledge in economics, the average JOE isn't aware on BTC and will be late to the party as always. It's a still a long way to go for BTC to be used by the masses. We are the pioneers.
True Wealth Ownership: Greeks and Chinese Learn the Hard Way
Think your money is safe in the bank? In stocks? In bonds? Think again.
To put it simply, when you store wealth with traditional financial institutions there is no guarantee of future access. Governments and banks can freeze or seize your funds at will. If your government decides you shouldn't have access to your funds anymore then there is no recourse, your family's wealth is gone. Furthermore, with traditional currencies, governments have sole control over the monetary supply, and through the creation of more currency they essentially devalue any funds you currently hold. The current system relies on trust, trust in your government and institutions to act responsibly to protect your wealth. In America and much of the developed world, citizens overwhelmingly trust their governments to act in their best interests, but in places where that trust has eroded, the system fails.
https://www.coinprices.io/articles/true-wealth-ownership-greeks-and-chinese-learn-the-hard-way
Think your money is safe in the bank? In stocks? In bonds? Think again.
To put it simply, when you store wealth with traditional financial institutions there is no guarantee of future access. Governments and banks can freeze or seize your funds at will. If your government decides you shouldn't have access to your funds anymore then there is no recourse, your family's wealth is gone. Furthermore, with traditional currencies, governments have sole control over the monetary supply, and through the creation of more currency they essentially devalue any funds you currently hold. The current system relies on trust, trust in your government and institutions to act responsibly to protect your wealth. In America and much of the developed world, citizens overwhelmingly trust their governments to act in their best interests, but in places where that trust has eroded, the system fails.
https://www.coinprices.io/articles/true-wealth-ownership-greeks-and-chinese-learn-the-hard-way
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