Who's brave/stupid enough to invest their life savings into fiat scrip?

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: pattu1 on November 19, 2014, 11:23:09 AM

Quote from: BADecker on November 18, 2014, 08:43:57 PM

The question is about life savings. This answer isn't about life savings.

The best investment as life savings protection for the future in the U.S. is, fertile land with water, where the patent has been "updated" to show you as the owner. Other than that, gold, silver, copper and Bitcoin.

Even though there is inflation, keep a chunk of cash around, hidden of course, in one's, five's, and ten's - maybe include some twenty's - because when the crash comes, you will be able to transact life if you have cash. Bitcoin may collapse due to the delicacy of the power grid and Internet, and it will take people awhile to get used to trading in gold and silver again.

For a time, cash dollars will be king when the crash comes.

When the crash does come, the dollars should be exchanged for food (something which preferably doesn't perish easily).
Food will be the first commodity that shoots up in price.

Bullets.

Elwar

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Viva Ut Vivas

There's risk in every investment. I think it's silly to keep it all in fiat.

pattu1

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Quote from: BADecker on November 18, 2014, 08:43:57 PM

The question is about life savings. This answer isn't about life savings.

The best investment as life savings protection for the future in the U.S. is, fertile land with water, where the patent has been "updated" to show you as the owner. Other than that, gold, silver, copper and Bitcoin.

Even though there is inflation, keep a chunk of cash around, hidden of course, in one's, five's, and ten's - maybe include some twenty's - because when the crash comes, you will be able to transact life if you have cash. Bitcoin may collapse due to the delicacy of the power grid and Internet, and it will take people awhile to get used to trading in gold and silver again.

For a time, cash dollars will be king when the crash comes.

When the crash does come, the dollars should be exchanged for food (something which preferably doesn't perish easily).
Food will be the first commodity that shoots up in price.

Flashman

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Hodl!

It'll start at 10 bucks for a potato if the disruption is that large. Ones may not be terribly useful, apart from paying poker with to pass time.

BADecker

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The question is about life savings. This answer isn't about life savings.

The best investment as life savings protection for the future in the U.S. is, fertile land with water, where the patent has been "updated" to show you as the owner. Other than that, gold, silver, copper and Bitcoin.

Even though there is inflation, keep a chunk of cash around, hidden of course, in one's, five's, and ten's - maybe include some twenty's - because when the crash comes, you will be able to transact life if you have cash. Bitcoin may collapse due to the delicacy of the power grid and Internet, and it will take people awhile to get used to trading in gold and silver again.

For a time, cash dollars will be king when the crash comes.

Lauda

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Terminated.

Obviously investing in FIAT is more dangerous than a crypto currency such as Bitcoin. People are just a tad too ignorant to see.
I like keeping my stuff in metals of different sorts.

inBitweTrust

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USD Fiat is an extremely risky investment that one should only hold onto for short periods of time.

Bitcoinpro

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Quote from: thermost on November 13, 2014, 09:04:52 AM

Can't believe people are still willing to risk losing their savings with fiat.

its already a stampede to get out of fiat into assets

everything was primed to burst this year n last year but bitcoin reversed that algo

thermost

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Can't believe people are still willing to risk losing their savings with fiat.

Stifler

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Most fiats will probably fail eventually but they are relatively stable for the short term but lose much value over long term so I think there's massive gains to be made in btc currently.

RobertDJ

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Fiat is actually generally very stable, at least when it comes to the major currencies. While the picture of the hyperinflation of the 1920's in Germany is correct, it has been over a century since any major country has experienced such hyperinflation (and such inflation was caused by germany having to pay it's war debts of WW1).

If you invest your money is highly rated bonds then you will generally be able to beat inflation by a few percentage points every year meaning the net value of your money will increase.

pitham1

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Quote from: TheButterZone on November 12, 2014, 04:08:11 PM

Anyone who buys these: https://bitcointalksearch.org/topic/wts-old-currency-paper-coins-800528

Well, well. The worthless fiat currency seems to have become valuable at some time after all. Grin

TheButterZone

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RIP Mommy

Anyone who buys these: https://bitcointalksearch.org/topic/wts-old-currency-paper-coins-800528

Flashman

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Hodl!

Quote from: Beliathon on November 12, 2014, 08:58:20 AM

Reading a story from a few decades ago, where some people invested all their life savings into Weimar Republic Promissory Notes and started to live off them. Then hyperinflation hit and they burned their savings for heat.

But it worked out okay for those people.... Hitler fixed it

(The moral of the story there kiddies, being that if people get so economically desperate, they'll invite in any monster who promises a fix.)

shawshankinmate37927

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