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

[DanWalker]

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.

If you bury assets on land that you own, it is not easy for someone to come in and use a metal detector to find it. This wealth preservation trick is similar to how many people print seed phrases on stainless steel plates and bury them in their yards. Each method will have certain risks, no way gives us absolute safety. In my opinion, a safer way is to diversify storage locations if you have many assets: 1 part in the bank, 1 part in a safe and another part can be buried in the backyard...By the way, if this was a bad idea, how could OP's grandmother have kept her assets for 30 years without anyone finding out?

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[bangjoe]

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.

If you bury assets on land that you own, it is not easy for someone to come in and use a metal detector to find it. This wealth preservation trick is similar to how many people print seed phrases on stainless steel plates and bury them in their yards. Each method will have certain risks, no way gives us absolute safety. In my opinion, a safer way is to diversify storage locations if you have many assets: 1 part in the bank, 1 part in a safe and another part can be buried in the backyard...By the way, if this was a bad idea, how could OP's grandmother have kept her assets for 30 years without anyone finding out?

The outline of every asset either without having a physical like bitcoin and or having a physical like gold or money or whatever it must have consequences or risks in its storage, but back again depending on how someone keeps it well without anyone knowing, the evidence that OP's grandmother can keep it for 30 years, means that indirectly OP's grandmother is good at keeping her wealth well, including in bitcoin too. if we are good at keeping the seed phrase until whenever it must be safe.

Yes, it can be by diversifying it or whatever it is in maintaining our wealth from future risks.

[coin-investor]

I remember in our country one guy who took a loan from his relatives to buy a jeep that he could use for his business unfortunately there was a fire in the neighborhood and he was not home when it happened only his pregnant wife and two kids the wife saves all their children but forgot the money that was kept in a bag.

Keeping money in your house is not safe, if there's a fire or a flood and there's a burglar breaks in you could lose your money, which is why today there are many treasure hunters because they believe that people in the olden days kept their fortune underground, and we have records of buried treasures that are found after so many years.

I can say it is safe to keep but you make sure that you remember it or no one knows, if you keep a map there's a possibility that it can be found by others if you lose the map and another drawback is if a building is erected on the place where you buried your fortune.

[kryptqnick]

Burying something requires having land, unless you want it to be dug out by some animals or found by people. When you do have your own land, you have to make sure that you won't forget where you put it, otherwise it can become a very difficult and unpleasant thing. You also need to be sure that this land is safe (no underground water nearby, no flood risk, no destruction risk). And, of course, you kind of do it once, so it's not a strategy of making gradual savings because burying and then digging up and then burying stuff every month is too much work and confusion.
I think digital storage is more practical, more affordable, and more realistic. I know that some people bury what they have, but I don't think it's a good strategy in contemporary world.

[peter0425]

And that being said, how safe do you think it is? At this time?

Safety would vary depending n where you are I would say. If you are in a place where landslides or earthquakes are very frequent then this might not be the best option for you so as someone that is from a country with a lot of typhoon and other natural disasters, I decide this is not the safest place for me to store my assets.

[Crypto Library]

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?

It was the safest way but not for this current time. If you use this technique in the current era, you may face various problems at different times, if you need to go somewhere far away, then it will not be possible to withdraw money without coming back to that place. Moreover, if money is kept under the ground, there is a possibility that it will be destroyed due to the moisture of the soil. When I heard about keeping money under the ground, I remembered a story from my childhood. When I was a child, I and some of my local friends made a small square hole with tiles under the ground near my house and stored money there for a few days. It was our personal bank. Later, I saw that all the money had been destroyed due to the humidity of the soil. Other difficulties are also there flood or any kind of nature disaster.
So for current time you have to use the technology like the crypto currency you can hold stable coin or you can also hold bitcoin as well as it was the most secure option when it is on a non-custodial wallet.

[crwth]

Not an ideal way to have assets. It's just not ideal because it's not easy to liquidate in terms of the needs you need to take. I don't think it's the best way. I have heard of people doing it and then just losing its value because of inflation. Gold is better in that way.

[sokani]

Have any of you ever been aware of this technique before?

This method of saving money was used in the olden days when there were fewer or no banks. People had to resort to what they thought was the best method as at that time. Right now things has changed and there are many banks and crypto wallets for storing funds.

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?

I wouldn't hide my cash underground even when I don't trust the banks, your cash could be stolen or eaten by termites. At present day, I think the people who do this are mostly drug lords that are hiding their cash from the authorities.

[Alana Arden]

I mentioned in the post that my grandmother was an old person and her thoughts would not match ours, and she didn't know about investing in real estate, bonds, or stocks. And please don't think his fund is illegal.
     These dollars are her hard work because she was a public school teacher. He kept his hard-earned funds this way because he didn't want to lose them. But in terms of money, he invested quite a lot of money, like in a in a cattle farm and in the agriculture sector. Because he lived in the village. Not only that, he used to leave all the money on the ground; he used to spend money on all the necessities. But yes, gold and silver were taken out very little. And some family members knew about this secret place of her. You will be surprised to see that grandmother has arranged the interior of her secret place so beautifully, which is really admirable.

But my mother was afraid to invest because she had learned about several scams and also had a negative perception of banks.
  But I thank you all for answering my questions very nicely and solving my problem. I told my mom about everyone's opinion. He realizes his mistake and agrees to invest his money instead of burying it in the ground like this. I really didn't know that much about the subject, so I loved burying the treasure under the ground like that.
  Actually, everything has positive and negative aspects. And as times have changed, so must we.
 Thank you all again.

[darkangel11]

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

Try to do the same with gold, silver, or encapsulated private key. Termites and moles will break their teeth on them.
The picture reminds me of that scene (fact based) from the series Narcos, where Escobar went on to find money he stashed in different places when he was rolling in it. One of them that was buried underground got soaked and turned into mud and the other stash was eaten by rats in some basement. While hiding valuables in the ground I'd be more worried of someone digging it out at night than of it being destroyed by critters.

[o48o]

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.
     I was very surprised by her strategy. I liked it, and at the same time, I was curious as to why she put it that way. When I asked her, it would be better to keep the funds in a safe place at home or in the in the bank instead of like this. She then told me that neither the house nor the bank are safe.
 Based on that formula, I saw my mother adopt the exact same approach. The mother also has the idea that the bank or house is not safe for these funds, or that it is not a safe place for the money. Because keeping these funds at home is very risky, you should be wary of thieves, robbers, and even rats. Again, in the case of banks, I have heard about the bankruptcy of big banks. Also, if these things are kept in the bank, you have to pay a separate additional fee, and the tax is different.
    That's why they consider this novel method to be safe and confidential.
Also, they are senior people, so they have no idea about the crypto world, and it may take me a long time to understand them.

Many may be confused by reading my title. Some may find this approach ridiculous. But this is a different technique and experience for me.

 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?

Compared to what saving method and in where? I guess if you are in a situation where you absolutely can't trust banking, it's as sure method as any, but honeslty if that seemed like an only option, then why not just buy bitcoin and bury the private key in a capsule? That's easier to transport if something happens than gold.

Funny enough i know one case in here, that one family had hidden their family valuables during the war. From what i gather it contained at least lots of gems and possibly gold. 2 people knew where the "treasure" had been hidden, one died during the war and other one was too suspicious to share the location, as there was some bitter quarrel between extentend family. I talked with a father of one of the families and he was tracking it via metal detector for ages, but all he found was trash. And top of that the terrain was really difficult, like lots of water and rocky hills.

So maybe ask for your grandmother to tell the place at least one of the relatives she trusts.

But i guess that could happen with bitcoin as well. Luckily where i live i can trust the banks way more then my own house or some stash on the woods.
Woods have probably lots of drugs hidden these days because people in black market use them as drop zones for buyers. But those are short time stashes.

[Hamza2424]

<snip>

Well for the current time, I would never consider it a good thing, saving assets/money of any expensive ornament by burying them under the garden as it is a very ancient technique but for now we have banks or other advanced protected systems to make our money secure I also have seen many money/dramas where old people used to save their useful assets in this way but hahaha I think it feels good only in movies/films and dramas what do you think?

Do you still consider it a useful method of saving money/assets? what if you died without telling someone you have buried your assets at that place? Your child or other near one will not use your assets and this thing you will also not like in my point of view, Or what if someone opens your that specific place unfortunately? You will lose all of your assets.

[justdimin]

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

Honestly why would she save like that though? Makes no sense, why did she think that people put their money into safe? For just security purposes? Or why people put their money into banks if they do not want to hold it themselves? Money is literally just a piece of paper, money itself, like as in that paper, worths absolutely nothing at all and keeping that safe is just keeping some paper safe, it's literally same idea as getting some A4 blank page and storing it somewhere safe, makes no sense.

I think crypto is far far better than fiat there is nothing wrong with that and I agree that we are not going to end up with fiat ever recovering and we are going to end up with fiat eventually getting worse and worse and worse, but that doesn't mean that we can do it very well without an issue.

[reagansimms]

The habit of storing valuables underground was carried out by our ancestors because they felt it was safer to store them independently and several other reasons such as limitations in finding a place to store valuables at that time. Security conditions and the lack of access to electricity in several remote areas at that time made them consider storing valuables underground as safer than storing them in their homes.

Times have changed, the thinking of our ancestors choosing underground as a safe storage place is no longer possible to adopt in this modern era. Perhaps some of those who are still alive today have changed their mindset from storing using traditional methods to more modern ones such as safes as one of the safest storage places for storing various valuables.

[|MINER|]

It is a very ancient method.  Earlier people were not familiar with banks or hoarding money and did not trust them.  They thought that if they keep money in bank or house, there is a possibility of losing it.  And their belief is not false either.  If you keep valuables at home, they can be stolen at any time.  And if you keep money in the bank, you may not find any trace of that money or valuable assets after the bank goes bankrupt.  So this method of theirs seemed right to them and it was also right according to their times.  But now the world has changed and people have become modern.  No more hoarding money underground.  If money is left under the ground, no profit will come from it and there is a chance that rats will eat it.  Those who are familiar with the digital age must invest money somewhere trustworthy and earn profits from it.  I would say invest the money in BTC rather than keeping it underground or precariously in the bank.  Investing here will keep your money safe and you will also get profit from it.

[Marvell1]

It is a very ancient method.  Earlier people were not familiar with banks or hoarding money and did not trust them.  They thought that if they keep money in bank or house, there is a possibility of losing it.  And their belief is not false either.  If you keep valuables at home, they can be stolen at any time.  And if you keep money in the bank, you may not find any trace of that money or valuable assets after the bank goes bankrupt.  So this method of theirs seemed right to them and it was also right according to their times.  But now the world has changed and people have become modern.  No more hoarding money underground.  If money is left under the ground, no profit will come from it and there is a chance that rats will eat it.  Those who are familiar with the digital age must invest money somewhere trustworthy and earn profits from it.  I would say invest the money in BTC rather than keeping it underground or precariously in the bank.  Investing here will keep your money safe and you will also get profit from it.

What makes you sure and dare to say that investing in bitcoin will be safe and profitable for everyone who invests in it?

Risks related to bitcoin such as losing the seed phrase, being attacked by hackers... everything has risks, including bitcoin. Not to mention, what is the evidence that bitcoin will continue to increase in price in the future and not collapse? Neither you nor I have any evidence to prove it, the only thing we have is a strong belief in it.

I am not against investing in bitcoin because I am also investing in it but there is no need to badmouth all other assets and exaggerate about bitcoin. Each method and each asset has its pros and cons, everyone should research and choose whichever method they think is safe for them.

[DanWalker]

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.

If you bury assets on land that you own, it is not easy for someone to come in and use a metal detector to find it. This wealth preservation trick is similar to how many people print seed phrases on stainless steel plates and bury them in their yards. Each method will have certain risks, no way gives us absolute safety. In my opinion, a safer way is to diversify storage locations if you have many assets: 1 part in the bank, 1 part in a safe and another part can be buried in the backyard...By the way, if this was a bad idea, how could OP's grandmother have kept her assets for 30 years without anyone finding out?

The outline of every asset either without having a physical like bitcoin and or having a physical like gold or money or whatever it must have consequences or risks in its storage, but back again depending on how someone keeps it well without anyone knowing, the evidence that OP's grandmother can keep it for 30 years, means that indirectly OP's grandmother is good at keeping her wealth well, including in bitcoin too. if we are good at keeping the seed phrase until whenever it must be safe.

Yes, it can be by diversifying it or whatever it is in maintaining our wealth from future risks.

Frankly, any method will have pros and cons. We can't judge it as unsafe just because it's an old method. I see some people criticizing this as an outdated and unreliable method but the mistake they made was ignoring the results that OP's grandmother achieved.
That's why I often say that everything has pros and cons, it doesn't matter what method we use to protect our assets and there is no need to imitate others. Use the method we feel is best for us without taking anyone's word for it as there is no guarantee that they will do a better job than us in keeping their assets safe.

[mirakal]

I remember in our country one guy who took a loan from his relatives to buy a jeep that he could use for his business unfortunately there was a fire in the neighborhood and he was not home when it happened only his pregnant wife and two kids the wife saves all their children but forgot the money that was kept in a bag.

Keeping money in your house is not safe, if there's a fire or a flood and there's a burglar breaks in you could lose your money, which is why today there are many treasure hunters because they believe that people in the olden days kept their fortune underground, and we have records of buried treasures that are found after so many years.

I can say it is safe to keep but you make sure that you remember it or no one knows, if you keep a map there's a possibility that it can be found by others if you lose the map and another drawback is if a building is erected on the place where you buried your fortune.

I would say it will only be safe if you actually own that piece of land so you have the full control on it. Otherwise, others will benefit it in the end and may lose all your investments. Also, if the location is not prone to flood or any other natural phenomena, then your hidden treasures will be safe enough. But make sure that you have someone that you also trusted that is aware of your hidden money and gold, so that when sudden loss or death will happen, at least that hidden money and gold will still be found by your family.

[Casdinyard]

As safe, if not even more dangerous as keeping it under your bedsheets I guess?

I mean, these things corrode and fade away over time, do you really expect them to retain their quality for decades after putting them under dirt and soil, possibly exposing them to the elements at the same time? And any burglar with a metal detector who vaguely knows you got something hidden under your backyard's soil?

Plus in the case with the Philippines where the denominations of money change as fast as a girl changes her mind, you really can't reliably put money in piggy banks like that cause the next thing you know, the money you have saved up for years is already obsolete, and you can't even use it to buy some shit, exchanging it in the central bank is more trouble than it's worth, and you're left with a pail of paper and coins that you can't even use to buy stuff you want.

So yeah, much better if you would put it to a bank or something, or perhaps even resort to ETFs if you want to invest in gold and other precious metals, it's pretty much the same thing but without the fear of losing it to some hacker, thief, or the acts of god and nature. 

[m2017]

Have any of you ever been aware of this technique before?

All humanity has been using this technology since ancient times. At all times, people hid wealth in the ground: from pirates and wealthy merchants to ordinary citizens.

And do you think we can keep our savings and wealth underground by adopting this strategy and considering it the safest?

Until recently (before the widespread use of metal detectors), this strategy was quite workable, because even after centuries, wealth that was previously buried by someone is now being found. If no one has found these “pits” over these long periods, then this is a safe method of storage.

In any case, this method is safer than storing it at home and certainly better than storing it in a bank or other third parties.

The only thing, unlike your grandmother, I would not recommend turning to this “safe deposit box” again in order to avoid compromising the place. Treasures are used for long-term storage.

And that being said, how safe do you think it is? At this time?

Fairly safe, but a number of precautions need to be taken. If you bury precious metals, you should make sure that the metal detector doesn't react to this burial of wealth (complicate detection by the depth of the hole or extraneous interference, objects absorbing the detector signal).