Bitcoin Forum

Cryptocurrency wallet wealth is tangible wealth.
It's your "james bond moment" like agent to move wealth with you or store or save.
Your wealth in cryptocurrency will be still existing until there is smart phones internet access and Electricity.
Untfortunately i don't know how people gona move or store safely the gold or silver.
Untfortunately country currencies wich not on blockchain allready not safe, right now usa got trough USDC and circle their dollars in safe blockchain in times of wars and crisis also there is euro EURC by circle,congrats to Europe and usa citizen your currencies are pretty much safest.

Once UK been the powerful and wealthy and kind of smart yet they have not transfered their wealth over to blockchain and cryptocurrency means no security and safety of UK £ or UK assets.

Also TETHER, USDT got
Tether (USDT) is primarily pegged to the United States Dollar (USD), but it also has versions pegged to other fiat currencies, including the Euro (EUR) and the Japanese Yen (JPY).
Also chinse and mexican currency on tether so those countries are smart and prepared.

What the russia uk canada and many others think ? It seems like they purposly let their nations to crash down and no assets safety no stablecoins nothing.

So the statement is clear If your wealth not in cryptocurrency you not safe.

Why would a government transfer their gold into crypto? It doesn’t make sense. A country should hold actual gold, and they have an army to protect it. If another country tries to invade them, war would happen, but they wouldn’t abandon their country, because soldiers are willing to die defending it.

Crypto might only make sense for individuals, so they can carry their wealth with them wherever they go. It’s also a good hedge against hyperinflation.

Some countries might consider holding crypto as part of their national reserves, but they’re not going to take a large portion of their gold reserves just to invest in Bitcoin or other cryptocurrencies. For example, didn’t the U.S. announce that they would have crypto reserves? But in reality, they never actually bought crypto, they only use what they’ve confiscated.

Gold alone is nothing together with cryptocurrency it's something.
But how can you measure your wealth ? If it's on forms of loans and equities....? When it's on btc or stablecoins you know exacly how much and you can move how you like it.

If buildings and all bombed or other crisis then only wealth in blockchain will be saved.

But where is the UK stablecoins? It's serious matter i would't hold any £ If i would be uk citizen.
How come so rich and powerful country don't do things to keep wealth and assets and wealth records safe.?
look the USA and Europe they have now best position thanks to circle USDC who been building their new currency system If something happens you can burn down all the Europe or bomb banks and even little nuclear attack european banks and people got still their EURO in safe blockchain by circle Jeremy allaire.
What UK people got ? Lol ? What russians got ? What canadanias got ? Nothing!
france and usa mica regulations been seriously working with USDC to secure assets and wealth.

Bank of england shame on them they way behind of USA and Europe they got no ways of wealth Records If something happens wealth gone only stablecoins on blockchain like usdc will show safety.

Also same question for Norway sweden ? What they thinking where is their stablecoins???

Are USA and Europe bankers only ones who really knows how to run finances ? It got me think that t be honest.
My assets in safe USA or Europe because i see leaders of those and bankers knows what they doing.

I think that countries should treat cryptocurrency as what it is which is an alternative, the centralized financial system comes with a lot of limitations and sure many fail to meet the minimum requirements to make regionals transfer bringing limits in trading, but now that is where cryptocurrency comes to play the vital roles as an alternative to carry out large transactions on a decentralized system.

Physical treasures as gold and silver can not be digitalized and get potential storage in the internet.
Gold is a natural resource which can not be uprooted digitally and can not be justified of physical safety and as much as they are naturally mined and unlimited numbers, they can not be stored on the internet.
For some basics interests, bitcoin has served on the proposed of digital gold because it already is a transmittable digital commodity stored in the internet.

Actually these days there have been talks of digital gold or silver and no I am not talking about bitcoin nor ethereum. I mean actual gold and silver but having a representation in the digital world that people can buy and hold. But unlike crypto, gold and silver will always have a physical manifestation and they do not just exist in the digital world. It is kind of like NFTs with artworks in a sense.
Individuals holding their money in crypto is smart and safe yes because they do not want to entrust their money to banks and the government itself so why wouldn't the government trust itself? They can make use of the blockchain technology for other things like transparent record keeping

There is advantage and disadvantage to both physical and virtual wealth.  Cryptocurrency will be good if you are in a region where there is electricity and internet access. But it will not be useful if there is power outage. And when there is no energy, this is where gold and silver will be useful.

However this is 21st century, I'm not sure if there will still be outage unless you are in a region where there is war going on.

you never know there are many possible causes for internet connection to be loss nationwide there could be malfunctions at the core network equipment there could also be attempts of cyberattacks

the government would need to be secure at all front they can't be comfortable with only having one place where they can store their money in otherwise the entire country will be at risk so both digital and physical money can be safe i believe this can apply to us as well

Malfunctions and cyber attack can be fixed immediately that for like less than a day or two some network engineer can fix them all and re-up the network back to life again and we are good to go. What is more scarier if the damage can take months to years before the fix can happen. I'm sure the whole country will be suffering even the ones  holding gold and silver.

This is why its not a good thing to just disregard the paper bills. Cash is still king.

There is barely a single grain of logic to your writing and it is hard to understand the point you are trying to make. It does make sense for central to potentially hold cryptocurrency in their basket if foreign currency reserves, but it is still quite volatile and they could be accused of being irresponsible if they used public funds in that way. Maybe in future it will happen, but governments are fairly slow to take action and would rather stick with minimal risk or face a public backlash if it goes wrong. You say gold is hard for governments to store and move, but it really isn't - the fact it's locked away in a vault and cannot be stolen digitally is a major benefit for this asset.

Yeah, it's vital for a country economic fund to be safe in way that once it's got attacked then it can be tracked easily, it's no fun to safe a nation's money in digital currency even if blockchain technology is said to be sure for upcoming generations, it's only needed for individual usage and mostly for sole proprietorship business owners and not for public funds.

That is why is called digital currency because it needs blockchain and internet before you can access your coins with phone or laptop and the coins are well safe in your wallet. Cryptocurrency is different from traditional currency you can gain access without blockchain or internet because is a centralized currency that is be control by the government.

I will not tell you that money is more safe in the bank, than cryptocurrency in the wallet because there is no third party in cryptocurrency transaction which you can check your wallet balance without any charge fees, but there is a charge fees whenever you want to check your bank balance because banks are control by the central governor and you must follow their policy.

Are you saying US have secured all their dollar in Bitcoin through Blockchain? No I don't think so. They can only secure some dollar and allow fiat too in the traditional way for easy access. Remember with fiat you may not need internet to get to it but for cryptocurrency you need internet which is one limitation. So, it is advisable while storing and securing your money in blockchain, you also have fiat for other alternative. Cryptocurrency is money no doubt but as alternative to fiat.

But this also means that there is no assurance with it for someone who's just knowing about it. And that is because cryptos are highly volatile except the stable coins and those that are low in liquidity. So whichever wealth we've got, in real estate, in bonds, bitcoin, precious metals(gold), etc. We're in it and we understand how it works. And having internet and electricity is a basic commodity nowadays, people can still live though but majority of the people are relying on it and that's why we know that in fact that even it stops for a day, it will still be there and won't be gone until you lose your private keys.

honestly I see government that puts their money in blockchain meaning they peg some asset in blockchain to real fiat as a way to increase the worth of their currency and also increase security.
by just putting it in blockchain you're literally covering an even wider audience and your money is being used everywhere which means higher security.

like how dollar literally is being used indirectly through stablecoin and everybody is hoarding stablecoin nowadays and see despite M2 supply keep increasing the value is "somewhat" retained one way or another.
basically you add billions dollar worth of demands if not more just by simply pegging USD to stablecoins. which seems pretty great, other countries should also follow if they want to make their currency stronger.

And in same vein, I will not be in doubt that there are still undeveloped regions where is not internet access and not electricity.
I know some of such places would still be in existence but considering the wide range of development and advancement of technologies, there it is believed that such affected places would be lesser compared to where the 21 century advancement is effective.
I am also not on the page of delegating such undeveloped places to hold on to bitcoin adoption because it is simply impossible to access the internet but those in the developed areas could can as well turn out adopting the digital system of cryptocurrencies which would it would give them much privileges to access their funds at their own comforts and also security wise in terms of crisis.

They cannot do that because Fiat is not a digital currency, so there is no how they can secure it on digital unless they just want to invest all the dollars they have on Bitcoin to make it have a digital form, but the question is that if they invest all what will people use for buying and selling, however why would people think there is no security on fiat, apart from devaluation of fiat there is no other serious insecurity on it and besides the US dollar is not unstable fiat. However internet still has a function on someone holding a fiat because we  have bank account and internet is the only source to it.

This statement is false. As an individual you have the right to store your wealth anyway you choose to do it. It can be personally at home, in landed properties or real estate, it can be in crypto specifically bitcoin, it can be in other forms of investment you deem safe. There is no guarantee that your asset is safe when you store it in cryptocurrency because there is risk in crypto investment when you dont secure your private keys well. Also market fluctuation can be a problem like when you buy the wrong coin.

So what if there are no longer smartphones and internet and electricity? I think this is what's the point of why you've made this thread and not about wealth storing in crypto. Only doomsday and apocalypse could be the reasons why we'll no longer have internet access and any other requirements for us to keep going on track with cryptocurrencies and the networks that it has got.

It could also be correct, if your wealth is only in the form of fiat, in the banks and any other assets that can be affected by your state. You're not really safe at all. They can take whatever they want to take but that's far from happening although we're only talking about the possibilities which are very unlikely to happen. And I am in midst of both of you that both of you are either correct.

I don't think you're safe either if all your wealth is only in the form of cryptocurrencies. Although I am in midst of them too, I think that storing wealth in form of different actives would be the smarter move. To me the main problem with fiat is that it loses value due to inflation (and depending where you live, that you could lose control over it etc. but not in most cases) but it is still true that it is the most liquid active so far. Cryptos are subject to high volatility, which is a nuisance, and pegged coins are not 100% safe.

Don't trust, diversify ;)

I like the idea of ​​diversification rather than just having the same asset. Diversifying into other assets besides crypto is a way to go that is likely to be safer than just having crypto - but we also need to choose which assets can give good returns in the long run. I agree fiat is not one of them - but gold and some other options can be considered good for diversification.

Many gold investors also diversify into other assets such as property or others - meaning they choose more than one source of potential returns rather than just one asset. In crypto it might only be good on bitcoin - I don't recommend diversifying into multiple altcoins.

Yeah, no one is safe unless he's firm with his decision of by having all of his entire assets in crypto but mainly in Bitcoin. I wouldn't store wealth in fiat but I know that we all need cash somehow, they say that it's still king but it only becomes a king because we spend it for our needs. Diverfisication is the key and I agree with you about. There is a need for everyone to get into both worlds of crypto and as well as real world assets. But be mindful that there are crypto projects that are also diving into RWA telling that they're into it but it's a different thing of what I'm trying to say, get into real estate, buy that house if you're capable of which if you have profited from the crypto market turn it into it.

Sounds good, but there are nuances.

As we can see - cryptocurrency does not give a guaranteed, stable growth, and often leads to a loss of value. The volatility of cryptocurrencies has not gone anywhere.
Therefore, crypto as an asset for daily storage and use - already a bit dubious.
Diversification is the answer here.
The second subtle nuance - if you find yourself in a situation where there is no internet, or access to a wallet - you ... you simply have no means of livelihood! At all ! And even having a hardware wallet, you will not be able to use it to buy food or refuel your car ...
So the second answer - also diversification ! :)
And in general - to trust and trust only one asset - this is definitely not dangerous ....

There are safe grounds in keeping wealth. Don't just say that it should be in crypto.

We're not biased here despite that this is a bitcoin forum and we encourage everyone to invest and buy Bitcoin.

Choices are everywhere about where we can keep our wealth and that's not limited to crypto. Other assets are there for us to choose but if someone sticks to crypto, that's totally awesome and fine.

it is the right thing to think about, and diversification is suitable to do in saving funds, thereby reducing the impact of the risk of loss that occurs, which of course if your wealth is in crypto, all is not good, because the crypto market goes up and down sometimes it is difficult to predict and for the long term it seems less suitable, with diversification in various fields can be done or businesses that can essentially have sources of income from various businesses.

OP, I agree with you that the richest countries in the world like America, England, Australia, Canada have not transferred their wealth to blockchain. These countries still use their own currency. Not all countries in the world have supported Bitcoin yet. As a result, it is not yet known to all the people in the world. Since it is an internet and technological thing, no one can function without net technology. However, fiat money has been prevalent for a long time and is known to everyone. Cryptocurrencies are used as an alternative to fiat. However, fiat currency, real estate, gold are not completely dependent on the internet. Cryptocurrency is a very safe asset as long as you do not forget or lose its seed phrase.