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

[MiF]

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?

My grandmother is the same as yours she bury thier money in a hole or sometimes she put is in a piggy bank to save it, i believe that it was a good way of saving, but for now only few will do this kind of saving because there are a lot of bank to put savings, you can deposit your money anytime of the day and it is safe and insured there, the next way to save is through crypto you can save it by buying and holding crypto or invest it to multiply your saving for good.

[justdimin]

There's no one right now that would keep their money or any other valuable underground. The world is now experiencing more earthquakes, more flooding and landslides and other natural disasters than in the past. Therefore even if you think that is a safe method these natural disasters may come and  displace whatever is precious underground. There are hundreds of services that help people save their money for as long as they want and it will be safe. We cannot do without paying the fees. It is a must and that's what helps them to  keep the business running.

Yes that's right. Currently, there are many safest money and gold storage services because in my opinion, in the past, people used underground storage because these storage services did not exist or were even far from home, so people had the idea of storing money and gold in the ground. However, as time goes by, this method is very rarely used, especially if you live in an area prone to natural disasters, of course this method is not very suitable for storing all the assets we own.

So those of us who invest in bitcoin are lucky because saving bitcoin is very easy, you only need to save the seed phrase. As long as you keep your seed phrase, your assets will remain safe. And what's interesting is that you can carry bitcoin storage anywhere, even in your trouser pocket. It's different if you store gold, you need a container to store it and it's difficult to carry it everywhere. However, in essence it all comes down to each individual storing money and gold underground, only you yourself know whether it is safe or not because this all depends on the area where you live. If you live in the highlands, maybe this kind of storage is safe.

That was what they had to use, that's what they had, they didn't had any other option, which is why they used such a system and I can understand that, it makes sense, there is really nothing wrong with that. I personally believe that we are not going to end up with anything that would be crazy, we just need to realize that we can't make it work, we need to arrange a way to make sure that we know what we are doing.

I personally believe that the best way to go with this would be arranging a situation where you could put your money into somewhere actually safe, and in most of those cases the banks are the ones that you could trust, because there are very rare cases where banks can't provide you the money that you deposited them, and that rarely ever happens.

[ChiBitCTy]

Any Parks and Rec's fan ( an NBC television show that is very popular in the United States) would know that this is a very smart idea because this is what Ron Swanson does with his gold, or does he? 

Truthfully , or seriously this can be a good and bad thing.  It all depends on how you do this.  There are smart ways to do this, and there are dumb ways of going about this.  One thing to keep in mind, and money just "sitting on the sidelines"  means that it's just sitting stagnant and getting beat down by inflation, so that will play a large role.

[stadus]

Any Parks and Rec's fan ( an NBC television show that is very popular in the United States) would know that this is a very smart idea because this is what Ron Swanson does with his gold, or does he?  

Truthfully , or seriously this can be a good and bad thing.  It all depends on how you do this.  There are smart ways to do this, and there are dumb ways of going about this.  One thing to keep in mind, and money just "sitting on the sidelines"  means that it's just sitting stagnant and getting beat down by inflation, so that will play a large role.

I have to agree. This could be safer if you are doing the right thing, but if you are not good enough in finding method on how they’ll be safe on the underground, then it’s better not to risk your wealth hiding them in an underground. Know that there are always risks on trying to do that, and one mistake could lead to a huge loss. So try to think a hundred times if you are capable to do that, otherwise just resort on keeping your funds and your gold on a secret vault inside your house, but make sure not to keep that long but learn to invest them as well.

[bettercrypto]

As far as I know, that method is still used by most people; instead of keeping it in the bank, they keep it in their home, even if it is in the trunk. but not just like Op said.

And I won't be surprised why someone is still using these methods because of the bad system that the bank has. I'm not that big on the banking system either.

[Uhwuchukwu53]

Even though plastic will take longer to be eroded still it can be more over rats love to party with such stuffs so don't even think it as a safe way to keep your money. It's better if you buy a safe deposit box which can be cost around a couple hundred dollars and serves the same purpose.

But I don't understand the idea behind saving the fiat, which is worse the inflation will eat everything you saved.

Yes of a Truth it's unwise to believe that saving money on plastic material because money don't need to be static were good Air is not entering even if is gold certain Air is need in moderation because rust can attack. The best in any currency most fiat is to deposit where it can be move from one hand to another from there it can be of more durable that keeping in one medium because moisture can damage it or other things.

[NeuroticFish]

Even though plastic will take longer to be eroded still it can be more over rats love to party with such stuffs so don't even think it as a safe way to keep your money. It's better if you buy a safe deposit box which can be cost around a couple hundred dollars and serves the same purpose.

But I don't understand the idea behind saving the fiat, which is worse the inflation will eat everything you saved.

Yes of a Truth it's unwise to believe that saving money on plastic material because money don't need to be static were good Air is not entering even if is gold certain Air is need in moderation because rust can attack. The best in any currency most fiat is to deposit where it can be move from one hand to another from there it can be of more durable that keeping in one medium because moisture can damage it or other things.

In various countries the fiat money already contains plastic or it's "printed" on plastic and then it's not that problematic. But yes, water and mold can be an issue if it's paper and/or cotton fiber. Then, at least in Europe under certain amounts the bank deposits are "insured by the state" hence safer, plus, the small interest they bring can cover a part of what's lost by inflation.

So, no matter how much we hate the banks, the system is built in a way that they are best suited for keeping the fiat money, not some random holes in the ground.

[coinerer]

Holding gold and hiding gold underground can be quite safe as the price of gold also increases over time so it can be a good investment asset. But even if you keep the money underground or in any safe place, the value of your money will decrease over time. Because the inflation rate of rupees is 5-12% every year. as a result, no matter how safe you keep your money, you will lose here. So you should always convert your money into a strong asset and keep it safe that may be underground too

[jrrsparkles]

So, no matter how much we hate the banks, the system is built in a way that they are best suited for keeping the fiat money, not some random holes in the ground.

More over this is digital era, you need good credit score if you need a loan for that maintaining good bank balance is kind of the primary criteria and also everywhere we pay is transitioning to digital and in future we may not use physical cash at all so for the one to have bank account in this era is needed.

[fuguebtc]

Holding gold and hiding gold underground can be quite safe as the price of gold also increases over time so it can be a good investment asset. But even if you keep the money underground or in any safe place, the value of your money will decrease over time. Because the inflation rate of rupees is 5-12% every year. as a result, no matter how safe you keep your money, you will lose here. So you should always convert your money into a strong asset and keep it safe that may be underground too

Not all currencies will lose purchasing power by 5%-12% like your country's. Additionally, it is not so bad that we hold some fiat because it is still the main means of payment and we can use it in emergencies.

Let's not always use the excuse of inflation and completely rule out holding some fiat, fiat is still useful and important in certain cases. What I find funny is that many people invest in bitcoin and they are obsessed with the concept of limited supply, printing money...and from there they always talk about inflation, economic crisis...but they really know nothing about how the current economy works.

[Gaza13]

Yes I have also heard about this fact and in case of saving gold and money at home has maximum chances to be stolen by the thieves whereas if buried in the whole then it will be safer. Although it is very difficult to take our money from the whole and then save again and is time consuming but is safer than saving it in a bank or at home.

It is the safest technology because if unfortunately thieves come to your home then they cannot dig whole ground and they will not be familiar that you have saved your money and gold underground so it will remain safe but I don't think that home and bank are such safe sites for gold and money.

I don't think it's technology, it's an old traditional way of protecting their property. Huh, thieves dig in the ground, do they know where the owner of the house keeps his belongings? In ancient times, according to them, this method was good but also had bad impacts. The good impact is that they have full control over their assets and they pay no administrative costs to safeguard their assets. The bad impact is that if they experience a flood or earthquake or landslide, it will be very difficult for them to find where they store their belongings.

[Dailyscript]

As far as I know, that method is still used by most people; instead of keeping it in the bank, they keep it in their home, even if it is in the trunk. but not just like Op said.

And I won't be surprised why someone is still using these methods because of the bad system that the bank has. I'm not that big on the banking system either.

Who fucking keep his money in the trunk when someone might steal it. I dont see keeping money at home as a bad idea because sometimes when you want to access your money it somehow difficult to access it because the traditional bank these days are not to be trusted since the money is being used to invest or given to organizations as loan for there business.

Yes, the bank is supposed to be a place where one can save his money at least that was the idea form the beginning before so many policies and authorities tarts coming in. If the people dont trust the bank anymore then any other options will be at their own risk.

[erep]

Who fucking keep his money in the trunk when someone might steal it. I dont see keeping money at home as a bad idea because sometimes when you want to access your money it somehow difficult to access it because the traditional bank these days are not to be trusted since the money is being used to invest or given to organizations as loan for there business.

I think instead of saving money at home it is better to save it in the bank but you have to make sure that the bank never experiences a case that harms customers, even though the negative impact is that the bank runs a loan business from customer savings, but if we are given a large share of the bank's profits maybe we will agree to choose that option rather than you having to worry if you keep money at home.

Yes, the bank is supposed to be a place where one can save his money at least that was the idea form the beginning before so many policies and authorities tarts coming in. If the people dont trust the bank anymore then any other options will be at their own risk.

We still have many options to convert savings into assets to avoid the impact of inflation, the best option is to convert to gold, property and bitcoin investment, but you still have to have cash savings if you doubt the banking system with policies that are always changing and sometimes the policies do not improve benefit customers.

[Viscore]

As far as I know, that method is still used by most people; instead of keeping it in the bank, they keep it in their home, even if it is in the trunk. but not just like Op said.

And I won't be surprised why someone is still using these methods because of the bad system that the bank has. I'm not that big on the banking system either.

Well, if this kind of method works for others, then obviously a lot of people are still into it these days. Of course, no one will tell that they are doing that instead of saving in a bank, that will beat their own purpose. But to be honest, I am still quite more optimistic with saving your own wealth at your secret place at home rather than trusting them completely at a centralized bank. At least, no one will be aware that you have a lot of wealth of your own, except if you try to speculate them to the people close to you.

[Zoomic]

Yes I have also heard about this fact and in case of saving gold and money at home has maximum chances to be stolen by the thieves whereas if buried in the whole then it will be safer. Although it is very difficult to take our money from the whole and then save again and is time consuming but is safer than saving it in a bank or at home.

It is the safest technology because if unfortunately thieves come to your home then they cannot dig whole ground and they will not be familiar that you have saved your money and gold underground so it will remain safe but I don't think that home and bank are such safe sites for gold and money.

I don't think it's technology, it's an old traditional way of protecting their property. Huh, thieves dig in the ground, do they know where the owner of the house keeps his belongings? In ancient times, according to them, this method was good but also had bad impacts. The good impact is that they have full control over their assets and they pay no administrative costs to safeguard their assets. The bad impact is that if they experience a flood or earthquake or landslide, it will be very difficult for them to find where they store their belongings.

The disadvantages of saving your belongings using the traditional method of putting them underground outweighs it's advantages. While there might be no additional charges or third parties interference in the traditional method, valuables saved in the old method are subjected to devaluation. There are cases where people even forget the exact spot they hid their valuables. With all the challenges  that comes with such method of safekeeping valuables, I must say the old traditional method is outdated and it is highly not recommended as a method of saving valuables.

If one so desires a safe place to save money or gold, there are many modern means one can save and still get value from their savings. I would rather convert all my valuables to bitcoin and watch my savings appreciate in value. Technology has so advanced for was to subject ourselves to risky primitive lifestyles.

[shield132]

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?

Are you serious? Burying something underground is the most basic instinct of every living being. Everyone, especially old people does that, they bury jewellery and money in the house or in the yard. This method is safe if you bury it deep under the ground where metal detectors won't be able to detect it but you have to bury it in a way that it shouldn't be noticeable for anyone that this part of the ground has been dug before.
Is it a safe method? That's very individual but I think there are way better other methods. Instead of burying money, buy a Bitcoin, get a hardware wallet, send coins to this hardware wallet and keep this wallet somewhere safe. Your buried money will become worthless over time because of inflation but your buried Bitcoins will become much more valuable because of many reasons which I am not gonna list here, that would take too long.

[G_Besar]

I think instead of saving money at home it is better to save it in the bank but you have to make sure that the bank never experiences a case that harms customers, even though the negative impact is that the bank runs a loan business from customer savings, but if we are given a large share of the bank's profits maybe we will agree to choose that option rather than you having to worry if you keep money at home.

Your view on savings does seem wise, but if these are the only two options we can see at the moment to be able to save money, of course choosing a place like a bank as a place to save money is not wrong. Because saving money at home is not very safe if we cannot guarantee the safety of our own environment, but it would be better to look at other ways that might also be more effective as a means of saving money. Examples include placing money into property whose value tends to be stable or into gold and others.

We still have many options to convert savings into assets to avoid the impact of inflation, the best option is to convert to gold, property and bitcoin investment, but you still have to have cash savings if you doubt the banking system with policies that are always changing and sometimes the policies do not improve benefit customers.

I actually prefer this method because besides being very helpful in saving money, it can also increase the amount of money when prices such as gold, property and bitcoin start to increase. Even though everyone should have cash savings that we can look after ourselves to make life easier for us, cash is still an important consideration in life for most people.

[Mr. Magkaisa]

         -    I watched a movie titled Frontier on netflix where they  entered the barracks of the syndicates, where the money was not placed underground. instead, it was hidden in the mansion house in the forest so that the police could not easily track it down.

It's literally just hidden in the house and the mansion where all the walls of the house are just behind it so much.

[Fiasem20]

This method of saving money/gold underground has been a practice of old and is still applicable to most people in this generation.It might look safe and it's also risky,if your saving your money underground you'll definitely use an object to indicate that exact spot where the money was buried in that case nobody is expected to see you.I've heard stories of how people's money were achieved underground all because they were seen during the process.It's best you save your money in banks or investment.

[target]

This method of saving money/gold underground has been a practice of old and is still applicable to most people in this generation.It might look safe and it's also risky,if your saving your money underground you'll definitely use an object to indicate that exact spot where the money was buried in that case nobody is expected to see you.I've heard stories of how people's money were achieved underground all because they were seen during the process.It's best you save your money in banks or investment.

This is not a guaranteed way to pass down wealth from the old generation to the new. Several gold stashes have been discovered not by their kino of which some are only discovered when the new owner of the house tried renovating.

The older generation are also very careful in giving away their gold stash to their sons and daughters because they have not taught them well about money. Or they're just not trusting people.