How safe is it to keep your money and gold underground?

[darkangel11]

It works fine when you want to hide your bitcoin seed phrase. Put it in a capsule and bury under a landmark, like a tree, or a doghouse and you won't have to dig it out unless there's an emergency and you somehow lose access to your wallet.
I wouldn't keep hold underground because it's much easier to hide it somewhere in the house. There are many great places and it's up to you to figure out which one is the best, but I'd buy a wall or floor mounted safe and put it there. Just make sure the safe is certified.

[Fatunad]

 Now I want to ask everyone:
    Have any of you ever been aware of this technique before?
And do you think we can keep our savings and wealth underground by adopting this strategy and considering it the safest?
And that being said, how safe do you think it is? At this time?

#Yes this has been that an old way on hiding  your precious things or posessions but mostly it would be money/jewelries or similar things.
#Everything has the risks but keeping it underground will really be needing up that kind of storage that wont really be able to be penetrate by water/moisture and would really be
that far or out with other peoples reach considering that there are some people who do love to dig out things that they could find.
#Would really be your choice because if you dont really like for any party to hold out your gold and money for you then you could opt on digging up a hole and store it out.

There would really be no such thing about being safe but if you do accept out and be able to bare up with the risks then it would really be your choice but
if you are that confident on putting it on a bank despite on bankruptcy possibility then it would be also your choice.

[hatshepsut93]

IMO that's an all-around bad idea. So many things can go wrong. Someone could spy on you and steal your treasure. You could forget the exact spot and your marks could disappear with time. A natural disaster like flood could damage or destroy your stash. Someone could come with a metal detector and find it. And so on and so on.

Storing your wealth at least inside your house mitigates a lot of these risks.

[DeathAngel]

Burying gold in a safe location is fine, I wouldn’t recommend burying paper money underground though. We are on a Bitcoin forum though, burying our seed isn’t necessary, we can engrave 12 words on steel washers & hide them well in a safe place.

[Yatsan]

It's obviously risky especially at this period unlike before. Perhaps you insisted doing it; digging shallow would make it easier for other people to steal it and with too deep holes, it won't be easy finding it in times you'd need it perhaps for emergency purposes. I have some gold accessories in me that I store in vault attached in my house's wall. Using this old method could put your holdings at risk, not to mention that the ground could be soften and reshaped by natural disasters such as earthquake and flood, now, would it still be safe? I firmly believe that technological advancements were made for us people to make use of it. If you still think the same way our ancestors are dealing with things then you might consider the situations in both scenarios.

[Alphakilo]

In Escobar case, the main reason why he saved money using such techniques was because to avoid the Government, every transaction he would make would never be recorded in any institution, only they would know.

You are correct. I know Escobar's situation was different because he  did it to make his transactions u traceable from the government. I only him here as an example because it is something that everyone can easily understand in the context of the OP.

[oktana]

It is safe. I think I’d say very safe because no one really expects that you’ll bury your money in the ground. But it really is stressful to do it the way your grandmother did it. We’re in a modern age, so an advanced way to do that is to create an underground (if your money is really worth that height). And underground is just about the same as digging the ground but very advanced because there’s more security.

[topbitcoin]

It's very safe... if the money obtained is the result of stealing or obtained in a bad way so that the authorities don't know about it, then the solution is to hoard the money in the ground. but why do we have a lot of money if we can't spend it and enjoy it. Have a lot of money but no freedom.

So look for money in a good way, so that we can really get real freedom. In this modern era, there should no longer be a method of storing money and valuable possessions in the ground, apart from this method, it is considered ancient, but if we keep paper money, the wealth we have will not increase. Maybe the money will still be safe... even if it isn't eaten by termites, if it is eaten by termites your money will be finished. And if it is not eaten by termites, you will still suffer a loss because the value of the money will continue to decrease from year to year, and perhaps, when you keep the money for a long period of time, when you open it, it is just a piece of paper that has no value.

So that the money you have is maintained well, and its value does not decrease. So invest the money, whether in bitcoin or something else.

[Miles2006]

Now I want to ask everyone:
    Have any of you ever been aware of this technique before?
And do you think we can keep our savings and wealth underground by adopting this strategy and considering it the safest?
And that being said, how safe do you think it is? At this time?

This strategy has been right from ancient and I'm clueless if people still carryout such act but is best known by our forefathers and mothers who lack the access to modern and technology era but in history I read a lot about our forefathers and their believe and surprising this act is mostly carried out by weathly men, chief or king. People who never get to see and observe might read stories about the ancient believe. I don't think people are willing to practice such believe now cause anyone who can boldly practice this act will be tag as an outmoded person cause what will happen if such person own a land? etc and other valuable investment choice, there's no guarantee holding fiat cause of the value and secondly banks will be hold responsible if anything happens to your finance. The underground money system is not save from my observation, we can't actually compare the ancient era with the modern era. If people still love this method it's left for them to research and convert their thinking to the modern day cause I believe we have a lot of modern means that can serve like the underground system

[johnsaributua]

The habits of antiquity are unique and sometimes cannot be guessed, such as storing on the sidelines of the soil in the kitchen, between piles of wood or in old clothes in the warehouse. there is indeed a threat from many pests such as rats, termites and predators that gnaw on the storage media, because in ancient times what was found around and easy to model without paying too much attention may be vulnerable to the strength of storage. can actually be behind easy and free as the value of less should often be checked feasibility may be routine, my ancestors ancient times often do even on coins whose value is not much, but this is a matter of principle and want to anticipate with what they can. Nowadays, civilisation is increasingly advanced, including investment storage facilities, even similar services are increasingly numerous and varied, even the storage of any software software, how important the role of storage is because whatever is collected certainly wants to keep and do the best it can.

[Stable090]

l watched my grandmother many years ago put her dollars, gold, and silver ornaments in a plastic box and bury them in a hole in the ground, marking the spot so she wouldn't forget it later. If ornaments or dollars were needed, she would fetch the necessary items from under the ground, unseen by all. The work is a little difficult, but she has been doing it for almost 30 years, and she is now an old woman.

Our old parents do this because during their period there were not many banks, and the people that do store their valuables in the banks are the rich people, so the low income earners do end up looking for ways to store their money themselves, so they will dig the ground and put their money and other valuable things in there because they believe that’s the only secure way to store their things that they can easily access, and where they will be digging the ground is a place where most people won’t even suspect there is anything there.

Now I want to ask everyone:
    Have any of you ever been aware of this technique before?

I am aware of the technique, and people in rural areas in my country still use strategies like this since they don’t easily have access to banks. Before they can store money or withdraw money from a bank,  they will have to travel for hours, so they prefer storing money at home because it can be easily accessed whenever they need it. In case there is an emergency, they can easily access their money instead of traveling to a bank, which is time consuming.

[Solosanz]

That's old school strategy, this is how your grandmother's paper money after she put in underground for a decade or more. It's really risky to hold paper money by yourself, either your money eaten by termites or someone might steal it.

I'd hold Bitcoin for long term, there will be no drama about eaten by termites and the gains is higher than any other assets.


https://www.theguardian.com/world/video/2013/jun/11/china-woman-42000-savings-eaten-termites-video

[Sebas.tian]

I was told by my grandfather some years ago, how he use to store his gold at home without fear of harm rubbers, Because even though the rubbers enter the house they will not find the gold anywhere in the house, Because the gold was buried inside a box in the ground which nobody can have access except my grandfather. I think , our grandfather and mothers where taking a big risk to buried their gold inside the ground where their wives, husbands and families members cannot have access to the gold except only the person that buried the gold, which is a dangerous method that will make the entire family to lose the person and his gold when death come. But since the world has developed more for bank and other financial institutions started accepting fiat money, silver, and gold, it has reduced people not to be using that olden days method to store their gold, Because banks have created some boxes in the banks where their customers can deposit their gold and it will be safe for future use.

[Xcode7]

That's old school strategy, this is how your grandmother's paper money after she put in underground for a decade or more. It's really risky to hold paper money by yourself, either your money eaten by termites or someone might steal it.

I'd hold Bitcoin for long term, there will be no drama about eaten by termites and the gains is higher than any other assets.


https://www.theguardian.com/world/video/2013/jun/11/china-woman-42000-savings-eaten-termites-video

For a long period of time, of course, it is quite detrimental to save money, not only is there the possibility of being eaten by termites, but the possibility of inflation will also make us quite disadvantageous.
However, this is different from gold, at any time or in the future saving gold is likely to make a profit, even if it is small.
If you understand the benefits of investing, of course for the future it is better to invest, but not everyone is brave and understands investment, that is a problem for now and there are still those who save their money for the future.

[Rruchi man]

    Have any of you ever been aware of this technique before?
And do you think we can keep our savings and wealth underground by adopting this strategy and considering it the safest?
And that being said, how safe do you think it is? At this time?

Imagine new technology never being accepted.

Imagine China going to a gun battle currently with bows and arrows, just because it was effective for them in the past, or Japan going to a gun battle with Ninjas who have swords. Imagine deciding to ride a horse to a neighboring country because it was the method of transportation when there are now automobiles that could make movement easier and faster. Imagine deciding to use a postman to deliver a written message that is urgent when there is now telecommunication.

It worked before and may still work now, but it will be very risky to practice now, and the only reason someone may be deciding to bury their money or gold in the ground now is to avoid the government knowing they have that kind of money, which is most likely illegal, or that kind of gold.

[slapper]

Weather can ruin memories and cause mishaps. Isn't it leaving your money exposed?

Your grandmother was right about the system. Bad things happen to banks. I understand mistrust. But burying money? Not a solution, it's like suspending your money. No growth, no benefit. Investing puts you in control, yet your money works while you sleep. Stocks, bonds, real estate, crypto: invest in growth opportunities.

Any investment has risk. Hiding it is risky! Smart investment is offensive, not defensive. Your family's respect system is unique. However, it may be time to broaden that approach and find better, more powerful ways to manage your money.

[Kelward]

The practice of keeping valuables like money and jewelries underground to protect them from theft and misplacement was ok in the olden days, when there was no internet and there wasn't much government regulations to protect people's money in the banks. Today the bank is the safest place to keep your money, nowadays banks must have huge deposits with their central banks, Incase they go bankrupt, so customers money can be refunded back to them. Thanks to the internet, you don't have to carry physical cash around to make payments, you'll just make digital transfers, and as for the precious stuffs like gold, you can put them in safe deposits. Technology has made it possible for people not to physical keep or carry their assets, except people who don't want their money and jewelries to known by the governments.

[Jawhead999]

Weather can ruin memories and cause mishaps. Isn't it leaving your money exposed?

Your grandmother was right about the system. Bad things happen to banks. I understand mistrust. But burying money? Not a solution, it's like suspending your money. No growth, no benefit. Investing puts you in control, yet your money works while you sleep. Stocks, bonds, real estate, crypto: invest in growth opportunities.

Any investment has risk. Hiding it is risky! Smart investment is offensive, not defensive. Your family's respect system is unique. However, it may be time to broaden that approach and find better, more powerful ways to manage your money.

I don't really understand with the point you want to say, but if the grandmother want to hide her money, that's what she can do. If she invest in stocks, bonds and real estates, her wealth is no longer private since the government will know her money and how much her total wealth.

Cryptocurrency is still a new thing, a lot old people didn't wan to learn about that, although cryptocurrency actually a good choice to protect your wealth and stay private.

[Strongkored]

This is an old method that is still often used by people who cannot be assured of bank security, but storing paper Money incorrectly will also make you lose because the money is damaged due to termites or fleas, because I saw this in the news several times and Also someone near my sibling's house experienced this, fortunately the bank was still willing to accept it because the damage was not serious, but if it was serious the money would no longer have any value.
Whatever way we store it, it's not a problem as long as we pay attention to the level of security, putting it at home can not only be stolen but there is also a risk of fire or flood and the risk of saving it in a bank is if the bank goes bankrupt, but I will still choose to keep it in a bank because some banks are guaranteed by the government with a certain amount.

[dothebeats]

This can still be done and will work for precious metals, though I cannot say the same for fiat currencies. For countries that are changing their currencies every so often, this will be futile since you will still need the services of the banks to get your currencies replaced to a newer one. There are also some countries who might consider this as 'hoarding' and may get you into legal trouble if they find out that you're doing this. Then again, the purpose of burying your money is for no one to know where you keep it, so except for the changing bank notes and currencies, I still think that this technique is a pretty solid one that people can do to keep their assets intact in times of need.