Would you store all your wealth in BTC?

[marcus_of_augustus]

I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.

[CoinCidental]

I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.

current problem is almost  100% of the world uses the "crap" money
its harder for the 0.1% who have a better solution to make a btc  economy
when 99.9% are stuck on the old system .....at least in the early days

[marcus_of_augustus]

I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.

current problem is almost  100% of the world uses the "crap" money
its harder for the 0.1% who have a better solution to make a btc  economy
when 99.9% are stuck on the old system .....at least in the early days

... no-one said it would be easy, but that is why early adopters deserve bigger payout because the odds are smaller the smaller the usage, in equal proportion to the risk that it will become widespread.

Btw, everytime one of the 1% buys some bitcoin they are indeed handing over their wealth to nerds ... and pure greed will just about ensure that they keep doing it more and more even though it is probably not in their long term interests, we'll see how much those grand money holding 'elite' truly understand money won't we, I guess?

[madmadmax]

The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...

[Tamis]

It would be stupid to do so... I have 98% of my wealth in buildings and 2% in bitcoins.

[madmadmax]

It would be stupid to do so... I have 98% of my wealth in buildings and 2% in bitcoins.

Then you have 100% of your change in bitcoins, as per my original post.

[porcupine87]

I have most of my wealth in Bitcoin  and other altcoins. But that's so, because I am a student and have not much wealth. In a few month I will hopefully earn a good income and will invest in other things like Bitcoin. But I am confident. Maybe I put half or one third in crypto currencies (let's talk in one year again).

that's so reckless to put all your wealth into BTC. as far as we know,  there is a 50/50 chance that BTC will even make it. no one really knows what's going to happen. it's fine to be for the bitcoin movement, but you could easily end up losing almost everything.

There is a 50/50 chance that BTC will make it but there is a 0% chance that USD would make it, if BTC crushes you would still have your farm land, real estate, businesses, investments etc since you only keep "change" in BTC, I am amazed at how many people didn't ready the original post.

I think the austrian economics predict the end of the dollar for 50 years and more. I like austrian economics, but the USD does surprisingly well the last couple of years.

All my wealth is in Bitcoin, though all of it has come from mining and trading.  For the past two years I have been living in a dirt cheap apartment, eating noodles, and barely going out.  I'm extremely fiat poor but have resisted any temptation to sell my coins.

I'm now trying to decide how I'd like to retire.

I hope you have not much BTC. I imagine a man with 1000btc but lives like a homeless man, because he does not want to change his bitcoin in USD to buy something nice. Then with the last breathe of life I send you a cake with "Was it worth it?".

[CoinCidental]

if he waits until 2014 or even 2016 he might be able to buy something much much nicer !
everyones got differnnt ideas ,some folks  may think the best strategy is to  live in a box and eat dog food for a year 
or two while holding loads of btc lol

i  trade them for goods  whenever i can but have never cashed any yet and i have a strong belief in this technology

[TonyOliver]

I'm getting the impression here that lots of people on this site have no existing wealth.

[zavtra]

I have all of my wealth in StableCoin.

Maybe it wasn't a good idea, as it dropped a bit, but I have faith in the future of cryptos in general. Especially with news like this:

>The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation
http://www.forbes.com/sites/billfrezza/2013/10/15/the-international-monetary-fund-lays-the-groundwork-for-global-wealth-confiscation/

>Federal Reserve's Tarullo details plans to counter bank runs
http://www.cnbc.com/id/101222045

>IMF report, pages 50, and 59, detail a plan for a 10% levy on all assets of all homes with a positive income:
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf

>Target cyber breach hits 40 million credit and debit cards at holiday peak
http://news.yahoo.com/target-stores-39-customers-hit-major-credit-card-013358444--sector.html

>Millions of Target shoppers face new DEBIT card limits
http://www.reuters.com/article/2013/12/21/us-target-jpmorgan-idUSBRE9BK0D020131221

[QuestionAuthority]

I'm getting the impression here that lots of people on this site have no existing wealth.

Yeah, too young. When they've fought for 20-30 years to accumulate wealth their attitudes will change. Why would I ever have have an IRA when I can always invest it all in Beanie Babies. lol

[btcmonster]

not all but a larger part

[TonyOliver]

I'm getting the impression here that lots of people on this site have no existing wealth.

Yeah, too young. When they've fought for 20-30 years to accumulate wealth their attitudes will change. Why would I ever have have an IRA when I can always invest it all in Beanie Babies. lol

Or Crypto Beanie Babies - not them old fashioned fiat beanie babies issues by a central authority.......

[alexeft]

The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...

I have a friend whom I am trying to convince to buy a few bitcoins but ... oh no ... he doesn't like he fact that early adopters get higher returns!!!!
Foolish him!

[t1000]

The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...

I have a friend whom I am trying to convince to buy a few bitcoins but ... oh no ... he doesn't like he fact that early adopters get higher returns!!!!
Foolish him!

I have a friend whom I also tried to convince to try and get a few bitcoins but he wouldn't because a "whole bitcoin was just too expensive". That was when it was going from $800, then $900, then 1100. Now he probably thinks I am dodgy.

[dc0ded]

I won't put all I have in bitcoin. But I won't mind putting around 25% of my wealth in bitcoin.

[TonyOliver]

The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...

I have a friend whom I am trying to convince to buy a few bitcoins but ... oh no ... he doesn't like he fact that early adopters get higher returns!!!!
Foolish him!

I have a friend whom I also tried to convince to try and get a few bitcoins but he wouldn't because a "whole bitcoin was just too expensive". That was when it was going from $800, then $900, then 1100. Now he probably thinks I am dodgy.

The idea that you have to buy an amount that is an integer is misguided - its about direction not price.

[TippingPoint]

I still have some reasons to have bank accounts.

But I have never established any links to or from those accounts and Bitcoins.

I also do not establish any links to or from bank accounts and gold coins.

If you buy and sell gold coins you need a digital scale, and a way to measure diameter and thickness.

This works
http://www.goldcoinbalance.com/ $24

or
$25
and
$17

[TonyOliver]

I still have some reasons to have bank accounts.

But I have never established any links to or from those accounts and Bitcoins.

I also do not establish any links to or from bank accounts and gold coins.

If you buy and sell gold coins you need a digital scale, and a way to measure diameter and thickness.

This works
http://www.goldcoinbalance.com/ $24

or
$25
and
$17

Archimedes displaced water didn't he - that would save me $17. Nice bit of spam. 

[TippingPoint]

If you are comfortable using water to measure the specific volume of coins, go for it.  Watch out for errors caused by surface tension.  And don't get the computers wet.



I don't have any affiliation with the link I provided, but I have used it in the field, and it works.

But the digital scale and digital micrometer communicate that you are precise and careful.