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Author Topic: Where do you keep your fiat?  (Read 1859 times)
griffga
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September 16, 2014, 06:46:15 PM
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Hey Everyone,

This post is a question to members of the community about where do you all keep your fiat? Say you make a lot of money on some Bitcoin trades. Do you just hold it all as Bitcoin, even through market corrections, or do you convert to fiat and keep it somewhere for those corrective phases of the market. Just curious if people keep their converted btc to fiat in banks, exchanges, where? If in banks, are certain countries and banks more Bitcoin friendly than others?
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BallOOner
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September 16, 2014, 06:50:33 PM
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I keep about 50% of my savings in bitcoins and another half at bank

what do you mean banks are friendly to bitcoins? Does any bank offers bitcoin deposits?
Sharpe
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September 16, 2014, 06:54:16 PM
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Some in my bank, some in my wallet and some under my bed. I've got about 50/50 of my wealth in cash vs bitcoin. I don't plan to sell bitcoins for a while though.
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September 16, 2014, 06:55:09 PM
 #4

Hey Everyone,

This post is a question to members of the community about where do you all keep your fiat? Say you make a lot of money on some Bitcoin trades. Do you just hold it all as Bitcoin, even through market corrections, or do you convert to fiat and keep it somewhere for those corrective phases of the market. Just curious if people keep their converted btc to fiat in banks, exchanges, where? If in banks, are certain countries and banks more Bitcoin friendly than others?

I don't trade to FIAT. I only buy and hold bitcoin.
Once in a while I trade some alt-bitcoin pairs.
Every remaining FIAT on my bank account is gone. Some is left for paying bills, the rest is gone. I don't trust banks.

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oceans
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September 16, 2014, 07:00:08 PM
 #5

I still keep some in my bank and some I have transferred to bitcoin. I would say it's about 50/50 at the moment for me. I would like to make all my fiat bitcoin but as of right now I am being more careful.
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September 16, 2014, 07:03:22 PM
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In my bank, where else. Shocked Shocked

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September 16, 2014, 07:04:12 PM
 #7

I still keep some in my bank and some I have transferred to bitcoin. I would say it's about 50/50 at the moment for me. I would like to make all my fiat bitcoin but as of right now I am being more careful.
Right now you should buy (I would if I had cash)
You should be careful when the bubble is about to pop.

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RustyNomad
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September 16, 2014, 07:11:55 PM
 #8

Fiat is held in bank accounts (both local and offshore) as well as with financial institutions where some are invested in longer term investments. Quite a large portion on my trading accounts but all profits are now converted to bitcoins and moved to an offline Electrum wallet instead of withdrawing back to my bank account as I did in the past.

Aiming for a 70/30 split between fiat and bitcoin for now and will look at moving it to 60/40 depending on developments over coming months.
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September 16, 2014, 07:16:23 PM
 #9

Haven't sold any coin to fiat at all.  Hoardin' like a muthafker!   Tongue

100% all Bitcoin in my offline stash of multiple USB sticks.

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mlferro
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September 16, 2014, 07:24:13 PM
 #10

I am now starting with bitcoins and say that little part is in bitcoins

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September 16, 2014, 07:36:17 PM
 #11

Some in my bank, some in my wallet and some under my bed. I've got about 50/50 of my wealth in cash vs bitcoin. I don't plan to sell bitcoins for a while though.

Under your bed is not recommended in case of fire or other natural disaster.  If you are keeping large sums of cash in your home, you should at least put some sort of safe or vault.   You can also keep your paper wallets, recovery seeds, trezors, etc in there...
griffga
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September 16, 2014, 07:42:06 PM
 #12

I still keep some in my bank and some I have transferred to bitcoin. I would say it's about 50/50 at the moment for me. I would like to make all my fiat bitcoin but as of right now I am being more careful.
Right now you should buy (I would if I had cash)
You should be careful when the bubble is about to pop.

Already positioned, but thanks for letting me know. Smiley Yes, a certain percentage split is a good idea. I think I just wasn't sure if people were seriously just going all out and "living the dream" by converting and holding everything as Bitcoin. In the past, I have sold some Bitcoins, but that practice has come to an end as I believe this is just the beginning of something that could change the financial world. I just wanted to get an idea of how everyone else generally felt about Bitcoin and how you managed your funds during long term market corrections. I know someone asked what I meant about Bitcoin friendly banks. I guess no bank would want to be friendly to something that could put them out of business, lol. I think I was thinking of if any banks would outright try to report someone who was making Bitcoin transactions as committing some crime for money transmission.
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September 16, 2014, 08:21:10 PM
 #13

The only fiat I have is in my wallet.

Everything else is Bitcoin.

Trading back and forth is for people who don't have some better use for their time.
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September 16, 2014, 08:39:35 PM
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Coverted to btc, rest in pocket.

All is Mine!

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September 16, 2014, 08:41:22 PM
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I kept it in a submersible Pelican case, but lost it all in a tragic boating accident.

wasserman99
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September 17, 2014, 01:13:42 AM
 #16

In my bank, where else. Shocked Shocked
This is really the only safe place to keep your fiat. I am also surprised as to how many people are claiming to keep their "fiat" in bitcoin (I think this would actually be where they keep their "wealth" or their "assets", not "fiat")

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September 17, 2014, 01:17:46 AM
 #17

Most fiat is kept in the bank but also a small bit as cash.

Wouldn't trust all my funds in bitcoin or fiat
RobFordWotWot
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September 17, 2014, 01:21:18 AM
 #18

Hollow skulls and pickle jars mostly.

Horses in midstream.
electricmarbles
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September 17, 2014, 01:22:14 AM
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converted into gold and stuffed into my matress Wink
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September 17, 2014, 01:29:45 AM
 #20

I have $58.90 in the bank and $103 in my pocket.  That accounts for all my fiat.

If you don't know where you're going any road will get you there
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