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Author Topic: Would you put all your savings money into BTC?  (Read 5502 times)
btc_
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December 02, 2013, 10:35:37 PM
 #61

50%
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PenAndPaper
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December 02, 2013, 10:43:14 PM
 #62

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.
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December 03, 2013, 02:20:31 AM
 #63

Has anyone come up with a protection against someone putting a gun to my head?

1. Hire bodyguards.
2. Have your own gun.
3. Avoid those places that have "bad" guns. (People are bad, not the guns, just to clarify.)
4. Don't actually have the bitcoins or private keys stored where you can easily access them. Send them offshore.

I am thinking of offering up a service where I keep your private keys offline, and the only way for you to use them or withdraw is to come here and get it in person.

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December 03, 2013, 02:34:50 AM
 #64

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.

My savings were on the bank for 2-3 years now and bringed me in a few hundred Euros. But Im actually also not sure to get in BTC at this high price.

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December 03, 2013, 02:38:47 AM
 #65

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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JTrain_51
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December 03, 2013, 02:40:54 AM
 #66

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
Domrada
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December 03, 2013, 03:05:38 AM
 #67

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

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PenAndPaper
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December 03, 2013, 02:33:19 PM
 #68

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?
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December 03, 2013, 02:37:01 PM
 #69

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.

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December 03, 2013, 03:20:01 PM
 #70

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

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BitchicksHusband
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December 03, 2013, 03:22:52 PM
 #71

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...

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PenAndPaper
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December 03, 2013, 03:32:15 PM
 #72

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
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December 03, 2013, 03:40:46 PM
 #73

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.
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December 03, 2013, 03:45:19 PM
 #74

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%.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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December 03, 2013, 04:08:47 PM
 #75

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.
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December 03, 2013, 05:11:53 PM
 #76

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.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
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December 03, 2013, 06:02:32 PM
 #77

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.

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December 03, 2013, 06:02:41 PM
 #78

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.


< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
PenAndPaper
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December 03, 2013, 06:19:07 PM
 #79

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.
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December 03, 2013, 06:27:46 PM
 #80

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?

Night gathers, and now my bitcoinwisdom watch begins.
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