Bitcoin as a savings account

[phoxpup]

Bitcoin: Can always trade it, Can't counterfeit it, Can destroy individual coins but they are virtually infinitely divisible, Based on public/private key cryptography that even quantum computing cannot break.  Sounds like a juggernaut to me.  I would invest.  It will be a lot more buoyant than the depleted uranium balloon we call USD. 

[WishIStartedSooner]

i didnt expect this crowd to be this ignroant about issues like these.

we arent talking about somebody with wealth exploiting the system.

we're talking about a dude down on his luck trying not to get trapped in the system.

the system is designed to keep you there once you're in it. less of a risk to this guy, due to his wifes retirement, but the guy who gave the heartfelt speech about walk a mile in another man's moccasins is exactly right.

easy to say youd never do anything like this for some people.

[Foxpup]

Based on public/private key cryptography that even quantum computing cannot break.

Not true: ECDSA as used in Bitcoin is indeed vulnerable to quantum computers. Fortunately, real quantum computers of sufficient power don't exist yet, and likely won't exist for a long time.

(Sorry for stealing your name, by the way.)

[niko]

Bitcoin is not a good saving meyhod, but a risky investment, only slighly better than gambling (in the sense that you might at least try to contribute to its success if you have skills). So, no.

[Sandstorm]

BTC are an excellent saving method. due to lower accessibility long term value increase. But if you put a significant amount in there you must give someone you trust very much instructions/encryption code on how to access them.

Otherwise if you die the funds will effectively disappear. Sad but true

[pwi]

In all seriousness, l would just like to witness a little empathy from time to time. A world without it kinda sucks.

Yeah lets have empathy for someone taking advantage of my money. Sorry but I can't... Fraud is a serious crime, and should not be taken lightly in any sense.

I'm pretty sure the OP paid into the system that he now would like to extract some value from. We all paid into it in case we need it. The OP is just asking for what HE already paid for. The only person taking YOUR money is the bureaucratic infrastructure to which we fund. 

The OP is just an individual trying to extract the value that was provided by the tax revenue he paid for a benefit he now needs but never used. Just because you don't need it, but are forced to pay it; does not  mean Jim is taking your money. Fraud is avoiding paying what is owed, and taking that which is not deserved.

Under our current system, we are required to pay in and then leave the decision making to a largely inept system. We should at least agree that Jim is deserving based upon the information available; and the system is broken at its very core.

Can we find something on which to agree? Or am I just a bleeding heart liberal and you a cold hearted conservative? I don't believe either is true.

Hugs gweedo.

[JimCGSavings]

In all seriousness, l would just like to witness a little empathy from time to time. A world without it kinda sucks.

Yeah lets have empathy for someone taking advantage of my money. Sorry but I can't... Fraud is a serious crime, and should not be taken lightly in any sense.

I'm pretty sure the OP paid into the system that he now would like to extract some value from...

Well, we are busy redefining our financial reality here in the states. Remember our clever re-designation of estate taxes paid to the government upon the death of the estate holder as "Death Taxes?" We are now redefining anyone who is relying on Government entitlement programs for any reason as "entitled." Even if you previously contributed to the system. The fact that you no longer do so, but are dependent on the so-called safety net of government entitlement systems means you are taking advantage of everyone who is presently paying into it by working full-time. I can understand people's reactions to our situation. I can even sympathize with it. But that doesn't eliminate our need to stay alive. We, like everyone of the other 7+ billion people on the face of the earth, have this bizarre desire to continue to live beyond our productive and contributing years. And to even enjoy some quality of life in the process. I know. "Entitled". (grin)
I'm not sure, and I hate to speak to define someone else's intent or meaning, but I think what gweedo objects to is the possibility that if I purchase and possess bitcoins, I will have used funds that should not be available to me due to the fact that we are depending on entitlement programs, instead of pay for work produced income. Entitlement programs that his tax dollars are presently paying into. And the possibility that I might be breaking some law by committing, or attempting to commit fraud in the process. 
Except for the possibility of purchasing and possessing BTC and/or other cryptocurrencies, none of that is my intent. But I have no desire or need to prove that. And nothing I say or will say here offers that proof.
I am setup to receive BTC, and in the process of setting up to receive LTC. And investing in LTC mining. All coins will be transferred to offline paper wallets, printed off an offline Linux system, with a firewalled hardline network connection to the online system. 
Against the day that I can exchange them for fiat currency without incurring the to me much more serious than any other penalty of losing our "entitled" status. Since our electric utility is paid for directly by a family member who doesn't mind the energy cost for mining, and other family members are purchasing the system to my specs, all I'll contribute is the labor of construction, setup and monitoring. It'll give me something to do. If you do a little research, you'll discover that you can report these virtual sources of "income". 
The status of LTC is even less well understood than that of BTC. Good thing my inquiry was about Bitcoin AND other alternative cryptocurrencies. I'm sure that with the variety of participants in the bitcoin disruption, someone will in someway object to some of this. Let me reiterate my position on that: I don't care. (grin)

[chanson]

I already posted in this thread that I would like a free health care system in this country and I am willing to pay more taxes to support it.

Inserting unlimited layers of bureaucrats between yourself and your doctor somehow makes sense to you??

Nobody deals directly with doctors except in some retarded fringe fantasy that is entirely divorced from reality. Put another way, a single taxpayer-limited layer of beurocrats would be vastly superior to the chose-your-own-adventure of multiple unlimited layers of for-profit free-market kleptocrats we currently have.

[tinus42]

Has nothing to do with liberals and conservatives, neither agree on Fraud as a way of handling your problem. This is fraud, no two ways about it, and if ever releases his name I am going to contact the IRS about it. I already started to look into him with the help of a private investigator, it is only a matter of time he is in jail. (grin) LMAO

You're probably like the type who reports every homeless person they encounter in their neighbourhood to the police for breaking the vagrancy law.

Go pay your taxes and obey the government. What will you do when they declare Bitcoin to be illegal?

[wachtwoord]

Has nothing to do with liberals and conservatives, neither agree on Fraud as a way of handling your problem. This is fraud, no two ways about it, and if ever releases his name I am going to contact the IRS about it. I already started to look into him with the help of a private investigator, it is only a matter of time he is in jail. (grin) LMAO

Come on Gweedo you're above that. This world would be a lot better place if people could just mind their own business.

[JimCGSavings]

...and if ever releases his name I am going to contact the IRS about it. I already started to look into him with the help of a private investigator, it is only a matter of time he is in jail. (grin) LMAO

Let me reiterate my position on that: I don't care. (grin)

[Anon136]

Would a laminated paper wallet be the best way to secure it?

yes, yes it would.

[JimCGSavings]

LMAO glad you don't care, I hope you enjoy a nice prison cell, and since your wife is unfit to take care her self, they will find a nice state run place for her. As I said fraud is a serious matter, and you are hurt the community when you commit it.

Actually a state run place for her could be had for her now if it was necessary. We haven't quite reached that point yet. She has a full-time caregiver to provide the home health services she requires at this time. As the level of dementia increases, the amount of state contracted services have increased. The most expensive option to the state, and therefore to the system paid for by entitlement programs, is full time care in a state medicaid facility. But at this time it doesn't offer the same quality of life she has at home.
As for prison, you have no idea how amusing I find that. Until you've spent a week keeping someone you care about from harming herself as the delirium caused by the increasingly manic energy that anxiety and lack of sleep increases to the breaking point of psychotic behavior to the level of qualifying as a danger to herself or others, followed by 10 hours of doing the same in an ER as you wait for the doctors to finish observing her under the influence of increasingly strong injections of medications that seem to have no effect while she rants at the top of her lungs about the message she has received from God to preach the Gospel of the Holy Nicotine patch and it's all healing properties to the world until finally they decide to commit her to a locked unit and knock her unconscious with strong enough medications to break the manic cycle, and when you finally get home from checking her into the locked unit you just sit there and try to wind down from 8 days of hell on earth that most mortals do not get to experience so you can pass out and try to catch up on your own lack of sleep while keeping up with her, and you start to wonder if " a nice prison cell" wouldn't be a vacation after 5 years of this being your life. Problem is, they're real reluctant to remove me as her caregiver. It would cost em a lot more. Remind me sometime to tell you the funny story of the time I called Adult Protective Services on myself. Long, amusing story. The gist of it is that at one point from A to B I reached such a point of exhaustion I couldn't go on, and called APS because I wanted to leave. Move out. Survive. They came and talked to my wife, and me and quietly informed me that APS was normally called by someone else. Then they left. I got a letter later explaining how they were closing the investigation. So hey, feel free. They'll probably send the the same officers that show up every time I call 911 and report my wife as a possible danger to herself or others.

Dude, are you missing the statements I've made indicating that I have no intention of committing fraud? Or are you just having too much fun to care? (grin)

[uionlo]

Is it possible to setup a special needs t

[kodo]

Sorry about your wife :/ thats sad

[nagatlakshmi]

Best of Luck

[kodo]

This is very sad to read

[WishIStartedSooner]

just ignored a hero member.

nice.

Jim, I hope that dick is full of as much bull as he's spouting...

[JimCGSavings]

just ignored a hero member. nice. Jim, I hope that dick is full of as much bull as he's spouting...

Ouch. I'm very much against the Ignore button. Where's the fun? (grin)
It doesn't matter to me if he's just spouting or is actually having me investigated. We get investigated by so many agencies every year that one of my main "jobs" is keeping all our paperwork and computers organized for easy accessibility and understanding. Most agencies default action to not understanding your data is denial of services, negative action, Not Good Stuff. Then you have to appeal and it just increases the paperwork and hoop-jumping. I've long ago gotten use to making the process as painless for us as possible with the most amount of transparency to them. So if the hero member wants to spend his money having us investigated, fine. Just another Monday here. (grin)
 
The assumption seems to be that I am committing fraud, or wanting to commit fraud in some way by using bitcoin to hide assets or income, and not reporting it. My stating otherwise doesn't seem to deter the assumption. Oh well. Gives me a reason to check the thread until it dies from repetition.
 
Here's another anecdotal story about living the "entitled" lifestyle: During the 24 month period of time when we got to "pay our share first", after my wife's acceptance to receive Social Security Disability, during the automatic 24 month delay before approval to receive Medicare, "our share first" meant that all medical costs, prescriptions, Hospital inpatient, outpatient, Emergency Room, etc., physical therapy, home healthcare needs, stays at the lovely "drunk tank" (there isn't any other place you can be held if you are declared a danger to yourself or others and you have no health insurance) until you have a seizure and get to visit the indigent hospital ER, and every little bit of equipment, supply, transportation, or contracted service by said medical suppliers is billed to you, and very quickly adds up to $10s of thousands of dollars.
The fun part is that a couple of weeks into this 24 month coverage gap, we got a call from Social Security asking if we wanted to participate in a study they were doing to see if people in the SSD/Medicare gap would benefit from Health Insurance Coverage. The program would consist of 3 study groups: Group A would get a Health Insurance Card that would be accepted by all medical providers that accepted Medicare+Supplemental, and an RN trained in providing HR services to the disabled person.
Group B would receive just the Health Insurance Card, but would be expected to provide all their own HR services. The Health Insurance Card would pay for a maximum of $100K before it "maxed" out and would no longer be accepted.
Group C would receive a phone call once a month, and if they agreed to take a survey on how it was going without any Health Insurance like coverage, get $25 a month.
I was ecstatic to hear we had been chosen for Group B. Without that study group program, our medical debt during that 24 month period would have been $100k higher. I'm glad that we didn't get chosen for Group A because I wouldn't have received the training I did during that time in dealing with the default denial reaction of most government and medical services, and learned the process of appeals, transparency and persistence necessary to navigate the "entitled" lifestyle "successfully". Joy. (grin)

[freedomno1]

just ignored a hero member.

nice.

Jim, I hope that dick is full of as much bull as he's spouting...

I am full of Bitcoins LOL you probably wish you were me. A top bitcoin member, rich as hell and working on awesome projects. Please ignore me

He-he I loled