Grandma tell you to keep old coin in piggy bank

[Broly46]

I have collected a lot of shitycoins for a long time although in small amounts because I believe that someday these coins price will go up, but let's be honest those shitycoins won't make you rich, well I'm just happy seeing lots of coins in my Electrum wallet. Honestly, Grandma's advice is more suitable for bitcoin or coins with a bright future. In April 2013 Bitcoin's price was about $266 so what Grandma said is true, keep your bitcoin and it would fetch a high value.

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The facts that it has value is completely absurd, didn’t matter it’s high or low value, it shouldn’t have any value from the beginning, but you can’t denial it still have value.
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What I think is , no matter where you keep your bitcoins , the value is gonna be the same , no matter it's in your wallet or in the bank ,
The Bitcoins will stay same in the value ,
The governmental coins are actually who change in value , also trust me the only way  to do that is to make people stupid and put up an auction online , custodial bank service I don't think it is gonna be that good .

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The thing has been up for sales on eBay for five thousands years! Look at all the stupid trades going on!
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I honestly get your point that old coins would really have a good value in the future because the coin will be limited and cannot be produce anymore. Same goes to crypto that when you hold your coin for too long it will have a good value in the future. But if you keep it to a bank instead of keeping it to yourself the value of the coin will be the same. This situation thought us that we should learn to have a patience in a certain thing because it could be precious when the time comes.

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The thing that bank keep our crypto, and they would do something so terrible that all the shitcoin that’s free float would increase its value despite its shit from the very beginning, why why why?!?!
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This inflation helps our people need to circulate money wisely. Without inflation, the country does not seem to grow. Countries around the world expect inflation to increase steadily and reasonably. In Japan, people have to contend with deflation that has been going on for several years in 2012 and 2014. The government has had to try to motivate people with various financial measures to keep inflation rising. It seems the new lazy people want deflation to exist forever!

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What did you know about inflation and deflation that we didn’t know, the bank is always so secretive that we can’t know everything out of their coffers, they keep every single information behind 99 vpn military grade security safeguards, it can survive a nuclear meltdown and the information would never get leaked!

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Holding fiat money is not a wise decision, it is true that our parents and grandparents always telling us to save money. For me when they said that to me I always cringing because it is wrong for me. Why would I hold a scam money that backed by the government? It is better if I will invest it in speculative asset like cryptocurrencies and also passive income businesses like real estate.

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Do you read the title, it’s holding coins inside piggy bank, the one that is built with rare metal, and you can hold it with your fist, it’s worthless and not a legal tenders, but it fetch high value, may be you never hold physical money before, then you need to know a bit about the time when we use most primitive money to trade, when we don’t have internet yet, it was a good time btw.
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Keeping your cryptocurrencies to yourself in a long-term will definitely give you a benefit because what if bitcoin have increased it's price more than $20K, then probably you would be really rich if that happens, that is why every crypto user always say have a patience to hold all of your holdings for you to see it's true value.

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Will you tell your kid? Will you? Will you?
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This is somewhat a non-sense thing though yet we dont need Bitcoin/crypto bank in the first place.Who the hell would use it up if we can be our own bank?

Of course banks would do things as they like and charge you up for storing or using up their service.What you do expect?

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Negative interest rate on bitcoin? Splendid!
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Physical cons have collectible value and it's the same for physical bitcoins, even collectible mining hardware. Old miners still have value even when they're completely unprofitable to run.

Shitcoin have no collectible value and most of them have value only because Bitcoin has. I wouldn't hold shitcoins especially the dying ones not only in an exchange but anywhere else. Once they are compromised and people see they have no real use they will keep going lower and lower even far below the value of 1 cent.

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Once upon a time, bitcoin was dumped into 30% of the dominance, that’s certainly didn’t end well for bitcoin, may be bitcoin is not as good as you think it’s, although I still love bitcoin, but let’s look at the old coins, the physical one on the market, some minted coins fetch higher value than American eagle gold coin, impressive! For example, a very scarce $ 100 note with Pokemon rare new two imprinted into nickel coins could fetch $ 99999, you may scream dafuq, but it’s the free market of rare coin on the eBay, they will never stop trading until the end of the world. It shouldn’t have any value from the beginning, but you can’t deny it still have value.
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Because at that time the popularity of banks with their "interest" was very global, also strong doctrine influenced many people to save their money in banks.
In addition, banks are private companies, the government is only tasked with monitoring them.

Fortunately, today many campaigns are voicing smart investments, this is good for our next generation.

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What did you know that I don’t know? I know something that you don’t know? What’s it just spill it out, banking service just existed for less than 100 years, I think it’s pretty innovation, and we may not fully discover its hidden potential yet, so what did you see the inner power of the bank that we don’t know?
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-snip- “my sweet child’s, keep your shitcoin and it would fetch high value!”

What do you exactly want to say with these words? Do you mean to suggest people leave shit-coin and focus on Bitcoin only?
Well, I will never advise my children to keep shit-coins. What for?? There are too many potential coins, why choosing the worse coins. We must know that keeping shit-coins just wastes time and it will be no future, no value, and no hope.

Anyway, can you tell me a bit about what coins do classify into shit-coins category? I hope you won't assume all altcoins are shit-coins.  

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Don’t live in denial, every coin that will make you cry out loud and scream shitcoins are the shitcoin, look at the wallets, all of them are shitcoin, bitcoin is just less shitting than some worse shitcoin, however all of them are shitcoin, the only none shitcoin is the American eagle gold coin minted at face value $ 50 a piece. Because it’s not a shitcoin and nobody call it shitcoin.
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[1715592075]

1715592075

[JollyGood]

Remember your grandma told you??

She said the old coins you keep inside your piggy bank would fetch high values in future, but the old coins you keep inside your trusted bank service, $ 1000 would be still $ 1000 after 20 years??

Do you know how old America eagle coins fetch many folds higher values than its face value??

What happened??

Now let’s look at this:

Keep your bitcoin and shitcoin under the custodian bank service

Vs

Keep your bitcoin and shitcoin in your online wallet

After 20 years, what will happens to the value in your bank vs the value in the wallet, and why on the bank is still the same?

Now will you tell your grand grand kids the same advices your grandma tell you, “my sweet child’s, keep your shitcoin and it would fetch high value!”

Not sure what the hell you are talking about. How do you keep your crypto currencies in a custodian bank service? As far as I know there is no financial institution that holds your coin. Even if that does exist, once you transfer your coins to them, it is not longer your "coins". Kinda sounds like you are also suggesting to store your coins in an online wallet which is not safe at all!

Maybe the OP was equating a custodian bank to an online exchange or online wallet provider?

[CryptoBry]

Now let’s look at this:

Keep your bitcoin and shitcoin under the custodian bank service

Vs

Keep your bitcoin and shitcoin in your online wallet

After 20 years, what will happens to the value in your bank vs the value in the wallet, and why on the bank is still the same?

Now will you tell your grand grand kids the same advices your grandma tell you, “my sweet child’s, keep your shitcoin and it would fetch high value!”

I don't understand what you mean by "keep your bitcoin and shitcoin under the custodian bank service." Are your referring to the actual cash deposited tin the actual bank? Of course, while they can earning regular interest they can be negligible compared to the rising inflation increases that is always happening no matter how hard the government is controlling it. Now, if you are just holding on to Bitcoin there is that possibility that years from now BC can really be valuable though we are also saying that there are risks here because it is also possible that BTC can be gone or be replaced by a much better one. In other words, we just don't know what can be.

You keep on referring to shitcoins as possibly having a good value in the future. I don't care about your strategies in cryptocurrency investing but in my view shitcoins are called as such because they really are especially in the marketplace where one platform can easily be copied and then just dumped after the creators and developers are already satisfied with the money they got on hand. Investing in shitcoins is just like expecting returns in a form of shits.

[NathanJB]

Times change. The old paradigm is obsolete and has to be replaced with a new one that is based on the current and the future technologies. The blockchain technology, cryptocurrency, online transactions, etc are the ones that will be dominating the mainstream. It is time to say good bye to piggy banks, even actual banks, fiat and fiat savings, and so on.

[squatz1]

That's cause Grandma doesn't understand inflation and how it works. It makes no sense to have more then your emergency fund sitting around in a piggy bank (or in a bank, safety deposit box) or whatever. The goal at the end of the day with your money is having it not lose its purchasing power.

And every year when you hold money and don't invest it in something (even CD's, savings accounts, etc) you lose about 2-3 percent per year.

The biggest thing you should be doing with your money is ensuring that it holds its purchasing power. So your emergency fund should be in a high yield savings account (hopefully earning about 1.7-2 percent per year, negating inflation or making the loss to it as low as possible)

The rest of your money should be getting invested, earning around 5-10 percent -- 2-7 percent after inflation. That means that you're making money instead of losing to the cost of inflation yearly. Just a little lesson of mine here.

[iamsheikhadil]

There are two component factors here, one is the money value and the other is the safety of my coins. Even if I keep my crypto under bank and it won't change in value with respect to if I keep it myself, but, why would I give bank the charge to hold my crypto which I can hold myself which will be safer, and yeah, keeping in a wallet with back up is safer than keeping money in piggy bank

[ecnalubma]

Well lets keep Bitcoin! for shitcoins ahh nevermind we can't get rid of them anyway unless they are collectible like old metal coins. Who would prefer crypto banking anyway when we can store our coins in our crypto wallet with our full control. Crypto wallets are the new piggy banks and you don't have to worry because what we hold there is not obsolete.

[merchantofzeny]

snip

Is kinda wonder how bank could eat away the bitcoin through inflation, can they fake the bitcoin transaction, by technological advancement, may be the bank finally found a loophole and create more than 21m bitcoin supply, then they’re truly genius.

Well with that part I wasn't talking about the actual inflation rate but interest rate they'll likely give you compared to the fees they'd take out for keeping your money "safe". I see no reason for keeping cryptos in bank except if you are sending it there temporarily for cashing out. Remember, what you keep in banks, the government can seize.

That's cause Grandma doesn't understand inflation and how it works. It makes no sense to have more then your emergency fund sitting around in a piggy bank (or in a bank, safety deposit box) or whatever. The goal at the end of the day with your money is having it not lose its purchasing power.

Agreed. Money whether in piggy bank or bank just lose money as they sit there. You are better off using it to buy things that appreciate in value (preferably one that brings in money regularly rather than having to be liquidated), mostly to try to at least negate inflation's effect.

[Kimonoe]

Well lets keep Bitcoin! for shitcoins ahh nevermind we can't get rid of them anyway unless they are collectible like old metal coins. Who would prefer crypto banking anyway when we can store our coins in our crypto wallet with our full control. Crypto wallets are the new piggy banks and you don't have to worry because what we hold there is not obsolete.

indeed, we have more freedom when we store crypto in our own wallet, and that is our full responsibility for its security. but we must be able to protect it from thieves. usually they come in by sending an email and telling us to follow the directions

[ashmodeus]

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what i got here is you don't and won't believe about anything financial bank created by a government company,it'sn't ?
or i miss something ?
if u want to be rich, just hold your money by your own bank.

[White Christmas]

Remember your grandma told you??

She said the old coins you keep inside your piggy bank would fetch high values in future, but the old coins you keep inside your trusted bank service, $ 1000 would be still $ 1000 after 20 years??

Do you know how old America eagle coins fetch many folds higher values than its face value??

What happens??

Now let’s look at this:

Keep your bitcoin and shitcoin under the custodian bank service

Vs

Keep your bitcoin and shitcoin in your online wallet

After 20 years, what will happens to the value in your bank vs the value in the wallet, and why on the bank is still the same?

Now will you tell your grand grand kids the same advices your grandma tell you, “my sweet child’s, keep your shitcoin and it would fetch high value!”

The reason why out grandmother and grandfather are saying to us to keep those old coins in out piggy bank to be able to preserve it into the next decade or in the future because the value of it will rise, meaning the coin will be an antique so that the value of it will go up and because the coin that you have is an antique already and many people don't have those kind of coin because you are one of the few people that think it will be an antique coin after few years.
When it talks about the trash or shit coins, maybe it is different because when we said shit coin or dead coin, there is a very low possibility that it will fluctuate and pump again after years, but we still don't know if it will happen that dead coin will be having a high value.

[drlukacs]

let me tell you, Bitcoin has only existed for 10 years and it hasn't taken a long time to be able to assert the value of this digital asset. Don't be too subjective to Bitcoin and believe it will grow every year and its price will be $ 1m and bla bla ... don't be silly. If you are criticizing fiat money, then you should not use it anymore and use crypto to pay your expenses, see if anyone accepts the coin you want to pay. Also, if you love cryptocurrencies and bitcoin, let me see why would it grow so well in the future if hold it? Meanwhile, coin is just a kind of tool for Blockchain to operate effectively. Governments and organizations can create a coin similar to Bitcoin!

[shoreno]

for bitcoins and other top cryptos yes but for shitcoins ? thats another story anymore  .

i been holding some shitcoins for almost 2 years now but do they increase thier value  ? no they do not  but infact some of them didnt even have any single value at all because they arent listed yet until now  while other shitcoins were only good at some certain time but hodling them in a longer time wont be benficial at all compare to bitcoin and other top crypto coins  .

[Pinkris128]

for bitcoins and other top cryptos yes but for shitcoins ? thats another story anymore  .

i been holding some shitcoins for almost 2 years now but do they increase thier value  ? no they do not  but infact some of them didnt even have any single value at all because they arent listed yet until now  while other shitcoins were only good at some certain time but hodling them in a longer time wont be benficial at all compare to bitcoin and other top crypto coins  .

Not every coin are really worth to wait because even you wait for it's value to increase for a decade, it will really not have any value, that is why there are only limited coins that has a potential to have a good value like bitcoin because it already proves that it is good for a long term investment that it already reach it's price to $20K, but it suddenly goes down in the year of 2018. It is the reason why we should wait because bitcoin will definitely reach it's price to $20K again.

[robelneo]

Remember your grandma told you??

She said the old coins you keep inside your piggy bank would fetch high values in future, but the old coins you keep inside your trusted bank service, $ 1000 would be still $ 1000 after 20 years??

Do you know how old America eagle coins fetch many folds higher values than its face value??

What happens??

Now let’s look at this:

Keep your bitcoin and shitcoin under the custodian bank service

Vs

Keep your bitcoin and shitcoin in your online wallet

After 20 years, what will happens to the value in your bank vs the value in the wallet, and why on the bank is still the same?

Now will you tell your grand grand kids the same advices your grandma tell you, “my sweet child’s, keep your shitcoin and it would fetch high value!”

I would not advise anyone to keep their shitcoin or do not dump it, because  base on my experiences, it's not worth it and it's a bit of very bad advice I have shitcoins here that's been sleeping for years and I don't think it will ever have value at all because there is no node, no dev no platform no volume and no price, what can you expect on these shitcoins, there's a huge difference between a shitcoin and your grandma's coin

[Broly46]

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Do you read the book written by Andreas Antonopoulos, I had skimmed through each page roughly, online wallet primarily signify the three reputable sites, namely, bitaddress brain wallet and block chain dot com, forget about full node it’s just too resource hogging, hardware wallet? Too many horror stories people get wrecked over. Offline wallet, idk, sound like a fraud about to happen.

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[/quote]

I don't understand what you mean by "keep your bitcoin and shitcoin under the custodian bank service."

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JPM coin, period.
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It is time to say good bye to piggy banks, even actual banks, fiat and fiat savings, and so on.

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That's cause Grandma doesn't understand inflation and how it works.

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Why didn’t you hold into the American eagle gold coins that have $ 50 face values? Since it worth so much today, but you seem to be smartest kids who know money well?
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why would I give bank the charge to hold my crypto which I can hold myself which will be safer,

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You may change your mind once you lost your key to access or phrases, it would be safer under someone else.
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for shitcoins ahh nevermind we can't get rid of them anyway unless they are collectible like old metal coins.

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Bitcoin dominance’s can barely cross 70%, it simply portraying shitcoin slowly but surely leeching some of the benefit and glorious bitcoin once have, yeah from 99% to 70%, it certainly didn’t bode well for bitcoin.
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~

what i got here is you don't and won't believe about anything financial bank created by a government company,it'sn't ?
or i miss something ?
if u want to be rich, just hold your money by your own bank.

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Yeah you missed everything.
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old coins in out piggy bank to be able to preserve it into the next decade

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What did you find the old coin has increase value, if you’re judging it based on eBay sales, nope it’s all merely just a random fake trading data, the real values that’s traded may be much lesser than 1~2 coins a day, most of the other old coin sales are fake and gay, they’re created to promote deception.
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Don't be too subjective to Bitcoin and believe it will grow every year and its price will be $ 1m and bla bla ... don't be silly. If you are criticizing fiat money, then you should not use it anymore and use crypto to pay your expenses, see if anyone accepts the coin you want to pay.

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Plenty of services accept bitcoin for a cup of coffee all over the States. That’s not a big deal at all.
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[airdnasxela]

Crypto and physical coin are different. Old coin becomes valuable because the government is changing its coin's design. So basically, old designed coin will be valuable. There are people who collect those kind of things and the older it is, the higher value you will get if you sell it to them. Keeping old coin will surely be valuable in the future because it's an official currency and is part of a country's history. While keeping crypto for a long time just like old coins, we will never be sure if it will still be valuable during that time.

[Jaspion]

let me tell you, Bitcoin has only existed for 10 years and it hasn't taken a long time to be able to assert the value of this digital asset. Don't be too subjective to Bitcoin and believe it will grow every year and its price will be $ 1m and bla bla ... don't be silly. If you are criticizing fiat money, then you should not use it anymore and use crypto to pay your expenses, see if anyone accepts the coin you want to pay. Also, if you love cryptocurrencies and bitcoin, let me see why would it grow so well in the future if hold it? Meanwhile, coin is just a kind of tool for Blockchain to operate effectively. Governments and organizations can create a coin similar to Bitcoin!

I personally don't believe btc will grow up to $1mil or even $100k, but it can go up to $20-25k I guess.
But I wan't cryptocurrencies to be a usable tool like USD, not a thing to speculate and gamble around.
So it is better if btc won't go up or down drastically

[CarnagexD]

let me tell you, Bitcoin has only existed for 10 years and it hasn't taken a long time to be able to assert the value of this digital asset. Don't be too subjective to Bitcoin and believe it will grow every year and its price will be $ 1m and bla bla ... don't be silly. If you are criticizing fiat money, then you should not use it anymore and use crypto to pay your expenses, see if anyone accepts the coin you want to pay. Also, if you love cryptocurrencies and bitcoin, let me see why would it grow so well in the future if hold it? Meanwhile, coin is just a kind of tool for Blockchain to operate effectively. Governments and organizations can create a coin similar to Bitcoin!

I personally don't believe btc will grow up to $1mil or even $100k, but it can go up to $20-25k I guess.
But I wan't cryptocurrencies to be a usable tool like USD, not a thing to speculate and gamble around.
So it is better if btc won't go up or down drastically

Your grandmother could be saying that with fiat coins in mind. Thing is, fiat behaves very different  from cryptocurrencies. so hodling them might be a good thing, but not in hopes of reselling it for a higher value in a decade or two as bitcoin is intangible unlike physical fiats that holds innate value aside from the value it was assigned with.

[Dart18]

There is a difference because of the physical attribute of the coin.
Most of the old ones are made of pure silver while now they put plastic in it.
Old coins that are made are not that much because they have a higher value before and you can buy a lot with just a dollar.

Now, with crypto currencies, there is a lot of difference. Living in the internet era is difficult, there is not rarity of products by now. I would still prefer keeping gold when it comes to having a physical view.