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Title: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Beliathon on November 12, 2014, 01:58:20 PM 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.
http://www.comparegoldandsilverprices.com/wp-content/uploads/2013/08/woman-burning-money.jpg http://www.garciawealth.com/Portals/55851/images/Declining%20dollar%20chart-resized-600.jpg http://www.dgcmagazine.com/wp-content/uploads/2013/09/bitcoin-monetary-base.png https://i.imgur.com/TpYBTgh.jpg Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: LiteCoinGuy on November 12, 2014, 02:09:49 PM http://www.tagesspiegel.de/images/inflatio_bild/9084198/2-format43.JPG
a rich policeman :P (probably 1 Satoshi is in there) Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: LiteCoinGuy on November 12, 2014, 02:10:57 PM http://upload.wikimedia.org/wikipedia/commons/thumb/8/8f/GermanyHyperChart.jpg/480px-GermanyHyperChart.jpg
tooo daaa Mooooooon! Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Elwar on November 12, 2014, 02:20:50 PM Only invest into fiat what you can afford to lose.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: WestHarrison on November 12, 2014, 03:05:21 PM I don't really like the Fractional Reserve Algo to be honest but I'm still Hodlin some USDCoin.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: sandykho47 on November 12, 2014, 03:20:31 PM There are people who don't know about economy invest in USD.
But, the best way for invest is stable fiat / gold / bitcoin. http://www.tagesspiegel.de/images/inflatio_bild/9084198/2-format43.JPG a rich policeman :P (probably 1 Satoshi is in there) Not rich anymore ;D And it's less than 1 satoshi Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: SpanishSoldier on November 12, 2014, 03:28:19 PM IMHO investing in Bitcoin & FIAT both has its own associated risks. People should invest in businesses.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Elwar on November 12, 2014, 03:45:19 PM THIS IS GENTLEMEN! Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Beliathon on November 12, 2014, 04:05:58 PM 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/Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: shawshankinmate37927 on November 12, 2014, 08:47:49 PM Only invest into fiat what you can afford to lose. LOL, love it! Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Flashman on November 12, 2014, 09:02:55 PM 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. <Troll> But it worked out okay for those people.... Hitler fixed it </Troll> (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.) Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: TheButterZone on November 12, 2014, 09:08:11 PM Anyone who buys these: https://bitcointalk.org/index.php?topic=800528.0
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: pitham1 on November 13, 2014, 12:48:12 AM Anyone who buys these: https://bitcointalk.org/index.php?topic=800528.0 Well, well. The worthless fiat currency seems to have become valuable at some time after all. ;D Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: RobertDJ on November 13, 2014, 04:54:59 AM 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. Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Stifler on November 13, 2014, 01:59:09 PM 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.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: thermost on November 13, 2014, 02:04:52 PM Can't believe people are still willing to risk losing their savings with fiat.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Bitcoinpro on November 13, 2014, 02:11:56 PM 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 Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: inBitweTrust on November 13, 2014, 02:24:43 PM USD Fiat is an extremely risky investment that one should only hold onto for short periods of time.
https://i.imgur.com/VKnLkE5.jpg Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Lauda on November 13, 2014, 02:31:38 PM 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. Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: BADecker on November 19, 2014, 01:43:57 AM 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. :) Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Flashman on November 19, 2014, 02:56:09 AM 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.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: pattu1 on November 19, 2014, 04:23:09 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. Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: Elwar on November 21, 2014, 02:04:42 PM There's risk in every investment. I think it's silly to keep it all in fiat.
Title: Re: Who's brave/stupid enough to invest their life savings into fiat scrip? Post by: cbeast on November 21, 2014, 02:37:41 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. |
