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

cbeast

donator

Activity: 1736

Merit: 1010

Let's talk governance, lipstick, and pigs.

Quote from: pattu1 on November 19, 2014, 12:23:09 PM

Quote from: BADecker on November 18, 2014, 09:43:57 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

legendary

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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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Merit: 500

Quote from: BADecker on November 18, 2014, 09:43:57 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

hero member

Activity: 518

Merit: 500

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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Activity: 3906

Merit: 1373

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

legendary

Activity: 2674

Merit: 2965

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

hero member

Activity: 658

Merit: 501

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

Bitcoinpro

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Merit: 1000

Quote from: thermost on November 13, 2014, 10:04:52 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

member

Activity: 77

Merit: 10

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

Stifler

member

Activity: 66

Merit: 10

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

full member

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Merit: 100

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, 05:08:11 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

legendary

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RIP Mommy

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

Flashman

hero member

Activity: 518

Merit: 500

Hodl!

Quote from: Beliathon on November 12, 2014, 09:58:20 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

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: Elwar on November 12, 2014, 10:20:50 AM

Only invest into fiat what you can afford to lose.

LOL, love it!

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: SpanishSoldier on November 12, 2014, 11:28:19 AM

IMHO investing in Bitcoin & FIAT both has its own associated risks. People should invest in businesses.

Bad advice of the month. http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/

Elwar

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Merit: 2386

Viva Ut Vivas

Quote from: LiteCoinGuy on November 12, 2014, 10:10:57 AM

THIS IS GENTLEMEN!

SpanishSoldier

sr. member

Activity: 700

Merit: 255

IMHO investing in Bitcoin & FIAT both has its own associated risks. People should invest in businesses.

sandykho47

sr. member

Activity: 252

Merit: 251

Knowledge its everything

There are people who don't know about economy invest in USD.
But, the best way for invest is stable fiat / gold / bitcoin.

Quote from: LiteCoinGuy on November 12, 2014, 10:09:49 AM

a rich policeman Tongue

(probably 1 Satoshi is in there)

Not rich anymore Grin

And it's less than 1 satoshi

WestHarrison

full member

Activity: 187

Merit: 100

I don't really like the Fractional Reserve Algo to be honest but I'm still Hodlin some USDCoin.

Elwar

legendary

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Merit: 2386

Viva Ut Vivas

Only invest into fiat what you can afford to lose.

LiteCoinGuy

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In Satoshi I Trust

tooo daaa Mooooooon!

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

a rich policeman Tongue

(probably 1 Satoshi is in there)

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

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. All fiat scrip is promissory notes, which are tantamount to MtGox coins that haven't been goxed yet.

Topic: Who's brave/stupid enough to invest their life savings into fiat scrip? (Read 2408 times)