Would you put all your savings money into BTC?

BitChick

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Quote from: irpirate on December 03, 2013, 02:19:24 PM

Putting all your eggs in one basket is a bad idea. Even if that basket is bitcoin Wink

Didn't Warren Buffet say “Keep all your eggs in one basket, but watch that basket closely.”

Maybe with Bitcoin that is the way to go?

I have been watching the basket and it keeps going up. Grin

irpirate

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Putting all your eggs in one basket is a bad idea. Even if that basket is bitcoin Wink

bennybong

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I would put 90% of my savings in yes. Savings that I don't have though ftw

imbladednow

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Woking as a binman sucks.

Quote from: ?? on ??

Quote from: PenAndPaper on December 03, 2013, 10:40:46 AM

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Quote from: PenAndPaper on December 03, 2013, 10:32:15 AM

Quote from: ?? on ??

I also would be against "banks being among the few organizations/companies that have the right to lend" if I thought that were the case, but fortunately it isn't.

What are the alternatives? From where i come it's illegal to lend money if you are not a bank Tongue

I very much doubt that. Ursury will probably be illegal though Tongue

You doubt about what? That it's illegal for other legal entities except banks to lend to people? I mean that's the very reason that loan sharks exist in the first place.

yes, I very much doubt that's illegal yes. What outlandish police state do you live where you aren't allowed to lend out your own money?

I believe it is illegal to lend money in some countries, probably muslim ones, isnt lending sin there? I known christians treated lending money as sin in the past

kireinaha

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Quote from: PenAndPaper on December 03, 2013, 01:19:07 PM

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Quote from: PenAndPaper on December 03, 2013, 10:32:15 AM

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I also would be against "banks being among the few organizations/companies that have the right to lend" if I thought that were the case, but fortunately it isn't.

What are the alternatives? From where i come it's illegal to lend money if you are not a bank Tongue

Alternatives to what? Everyone has the right to lend. I don't even know what you're talking about when you suggest that only banks have that right.

From where do you come that it's illegal to lend money if you're not a bank?

Ok so tell me a place other than a bank that i can take a loan. Last time i checked loan sharks aren't exactly legal.

Pawn shops or payday advances?

PenAndPaper

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Quote from: ?? on ??

Quote from: PenAndPaper on December 03, 2013, 10:32:15 AM

Quote from: ?? on ??

I also would be against "banks being among the few organizations/companies that have the right to lend" if I thought that were the case, but fortunately it isn't.

What are the alternatives? From where i come it's illegal to lend money if you are not a bank Tongue

Alternatives to what? Everyone has the right to lend. I don't even know what you're talking about when you suggest that only banks have that right.

From where do you come that it's illegal to lend money if you're not a bank?

Ok so tell me a place other than a bank that i can take a loan. Last time i checked loan sharks aren't exactly legal.

Mirsad

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Bitcoin - love & hate

The only solid calculation is based on what you can purchase with the same fiat money.
You can't take houses and cars into this, because there are other factors involved.

Daily goods, electronics,... are a better indicator.

BitchicksHusband

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Quote from: aminorex on December 03, 2013, 10:45:19 AM

Quote from: PenAndPaper on December 02, 2013, 05:43:14 PM

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Quote from: JimboToronto on November 27, 2013, 11:10:19 PM

Saving money shouldn't cost anything. They should be paying you.

For what, the privilege of keeping your money safe?

I think he talks about money in bank accounts. Actually they pay you.

They pay you 1% while inflation is 8%.

You get 1%!?! Lucky.

Mirsad

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Bitcoin - love & hate

Quote from: aminorex on December 03, 2013, 10:45:19 AM

Quote from: PenAndPaper on December 02, 2013, 05:43:14 PM

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Quote from: JimboToronto on November 27, 2013, 11:10:19 PM

Saving money shouldn't cost anything. They should be paying you.

For what, the privilege of keeping your money safe?

I think he talks about money in bank accounts. Actually they pay you.

They pay you 1% while inflation is 8%.

We have actually a negative inflation (-0.5%).
Sucks to live in a shitty country like usa or most eastern europe countries.

bitmarket.io

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Quote from: CoinGeneral on November 27, 2013, 05:56:35 PM

Would you put all your savings money into BTC rather than at the bank?

How about you put 50% of your savings in BTC. See how it goes, then do 80%. Don't put 100%. You may need cash fast one day.

aminorex

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Sine secretum non libertas

Quote from: PenAndPaper on December 02, 2013, 05:43:14 PM

Quote from: ?? on ??

Quote from: JimboToronto on November 27, 2013, 11:10:19 PM

Saving money shouldn't cost anything. They should be paying you.

For what, the privilege of keeping your money safe?

I think he talks about money in bank accounts. Actually they pay you.

They pay you 1% while inflation is 8%.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: ?? on ??

Quote from: PenAndPaper on December 03, 2013, 10:32:15 AM

Quote from: ?? on ??

I also would be against "banks being among the few organizations/companies that have the right to lend" if I thought that were the case, but fortunately it isn't.

What are the alternatives? From where i come it's illegal to lend money if you are not a bank Tongue

I very much doubt that. Ursury will probably be illegal though Tongue

You doubt about what? That it's illegal for other legal entities except banks to lend to people? I mean that's the very reason that loan sharks exist in the first place.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: ?? on ??

I also would be against "banks being among the few organizations/companies that have the right to lend" if I thought that were the case, but fortunately it isn't.

What are the alternatives? From where i come it's illegal to lend money if you are not a bank Tongue

BitchicksHusband

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Quote from: yvv on December 02, 2013, 09:38:47 PM

Quote from: CoinGeneral on November 27, 2013, 05:56:35 PM

Would you put all your savings money into BTC rather than at the bank?

Buy some prostitutes. You will not regret your loss this way.

I'm sure that nobody ever regretting wasting money on a prostitute...

majorX

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Quote from: UnDerDoG81 on December 02, 2013, 09:34:50 PM

I have the same question here. Putting 50% of my FIAT into BTC? Or something else? But what? Gold? The US Government manipulates the Gold price how they want. But I´m sure if BTC gets big enough, they will do the same with BTC.

Keeping money is punished because of inflation, you have to invest your money in precious metals, start business, or buy land to keep the value of your money

niothor

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in defi we trust

Quote from: Domrada on December 02, 2013, 10:05:38 PM

If you keep all your savings in BTC, at least you can be certain it won't be stolen.

Certain? How can you be certain?
You can feel more secure than with cash but certain? Nope.

PenAndPaper

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Quote from: ?? on ??

Quote from: PenAndPaper on December 02, 2013, 05:43:14 PM

Quote from: ?? on ??

Quote from: JimboToronto on November 27, 2013, 11:10:19 PM

Saving money shouldn't cost anything. They should be paying you.

For what, the privilege of keeping your money safe?

I think he talks about money in bank accounts. Actually they pay you.

Yeah, because they don't keep your money safe. They lend it out to others.

The comment was about how things should be. I wouldn't include fractional-reserve banking in that hypothetical.

So you are against lending money in general or against banks being among the few organizations/companies that have the right to lend?

Domrada

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If you keep all your savings in BTC, at least you can be certain it won't be stolen.

JTrain_51

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Quote from: pera on November 27, 2013, 05:58:32 PM

no, but I wouldn't put all my savings in a bank neither Wink

Lol , that shoebox in the closet Grin

I would invest a little into btc but not to to much

yvv

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Quote from: CoinGeneral on November 27, 2013, 05:56:35 PM

Would you put all your savings money into BTC rather than at the bank?

Buy some prostitutes. You will not regret your loss this way.

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