Bitcoin Forum
September 21, 2019, 06:03:56 AM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Who's brave/stupid enough to invest their life savings into fiat scrip?  (Read 2303 times)
Beliathon
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


https://youtu.be/PZm8TTLR2NU


View Profile WWW
November 12, 2014, 01:58:20 PM
 #1

Reading a story from a few decades ago, where some people invested all their life savings into Weimar Republic Promissory Notes and started to live off them. Then hyperinflation hit and they burned their savings for heat. All fiat scrip is promissory notes, which are tantamount to MtGox coins that haven't been goxed yet.








Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1569045836
Hero Member
*
Offline Offline

Posts: 1569045836

View Profile Personal Message (Offline)

Ignore
1569045836
Reply with quote  #2

1569045836
Report to moderator
1569045836
Hero Member
*
Offline Offline

Posts: 1569045836

View Profile Personal Message (Offline)

Ignore
1569045836
Reply with quote  #2

1569045836
Report to moderator
1569045836
Hero Member
*
Offline Offline

Posts: 1569045836

View Profile Personal Message (Offline)

Ignore
1569045836
Reply with quote  #2

1569045836
Report to moderator
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148
Merit: 1001


In Satoshi I Trust


View Profile WWW
November 12, 2014, 02:09:49 PM
 #2




a rich policeman  Tongue  (probably 1 Satoshi is in there)

LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148
Merit: 1001


In Satoshi I Trust


View Profile WWW
November 12, 2014, 02:10:57 PM
 #3




tooo daaa Mooooooon!

Elwar
Legendary
*
Offline Offline

Activity: 2870
Merit: 1456


Viva Ut Vivas


View Profile WWW
November 12, 2014, 02:20:50 PM
 #4

Only invest into fiat what you can afford to lose.

First seastead company actually selling seasteads: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
Seastead talk at http://seasteadtalk.org
WestHarrison
Full Member
***
Offline Offline

Activity: 188
Merit: 100



View Profile
November 12, 2014, 03:05:21 PM
 #5

I don't really like the Fractional Reserve Algo to be honest but I'm still Hodlin some USDCoin.
sandykho47
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250

Knowledge its everything


View Profile
November 12, 2014, 03:20:31 PM
 #6

There are people who don't know about economy invest in USD.
But, the best way for invest is stable fiat / gold / bitcoin.




a rich policeman  Tongue  (probably 1 Satoshi is in there)

Not rich anymore  Grin
And it's less than 1 satoshi

Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
SpanishSoldier
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
November 12, 2014, 03:28:19 PM
 #7

IMHO investing in Bitcoin & FIAT both has its own associated risks. People should invest in businesses.

  ▃▃▃▂▂▂▂▂▃▃▃▃                                      ▃▃▃▂▂▂▃▃▃                         
   ██████████████████                                        █████████████     ████                 
   ██████████████████                                        █████████████     ████                 
          ████                                               ████                                   
          ████   █████ █████ ████   █████    █████████       ████       ████   ████  ███████████   
          ████   ▀█████████▀ ████   ████    ████   ████      █████████  ████   ████   ████  █████   
          ████    ████▀ ▀▀▀  ████   ████   ████     ████     █████████  ████   ████   ████    ████ 
          ████    ████       ████   ████   █████████████     ████       ████   ████   ████    ████ 
          ████    ████       ███████████▄   ████             ████       ████   ████   ████   █████ 
          ████    ████       █████  ███████  ████  ████      █████      ████   ████   ███████████   
         ▄████▄   ████        ███     ███      ██████        █████      ████   ████   █████████     
                                                                                      ████         
                                                                                      ████         
                                                                             █▀▀   
Blockchain Fair Games
|
Truly one of a kind games:
MAGIC DICE   CHAIN'S CODE   PIRATE BAY
MINING FACTORY      RAPID TO THE MOON
|

400 BTC
★ PRIZE FUND ★
|

WEEKLY GIWEAWAYS
Join our community!
150% BONUS
First-time deposit
VISA  🔴🌕  50+coins

CERTIFIED RNG
100% TRANSPARENT
PROVABLY FAIR
Elwar
Legendary
*
Offline Offline

Activity: 2870
Merit: 1456


Viva Ut Vivas


View Profile WWW
November 12, 2014, 03:45:19 PM
 #8



THIS IS GENTLEMEN!

First seastead company actually selling seasteads: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
Seastead talk at http://seasteadtalk.org
Beliathon
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


https://youtu.be/PZm8TTLR2NU


View Profile WWW
November 12, 2014, 04:05:58 PM
 #9

IMHO investing in Bitcoin & FIAT both has its own associated risks. People should invest in businesses.
Bad advice of the month. http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
shawshankinmate37927
Hero Member
*****
Offline Offline

Activity: 854
Merit: 1000


Bitcoin: The People's Bailout


View Profile
November 12, 2014, 08:47:49 PM
 #10

Only invest into fiat what you can afford to lose.

LOL, love it!

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
Flashman
Hero Member
*****
Offline Offline

Activity: 518
Merit: 500


Hodl!


View Profile
November 12, 2014, 09:02:55 PM
 #11

Reading a story from a few decades ago, where some people invested all their life savings into Weimar Republic Promissory Notes and started to live off them. Then hyperinflation hit and they burned their savings for heat.

<Troll> But it worked out okay for those people.... Hitler fixed it </Troll>




(The moral of the story there kiddies, being that if people get so economically desperate, they'll invite in any monster who promises a fix.)

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
TheButterZone
Legendary
*
Offline Offline

Activity: 2548
Merit: 1011


Pay with SegWit!


View Profile WWW
November 12, 2014, 09:08:11 PM
 #12

Anyone who buys these: https://bitcointalk.org/index.php?topic=800528.0

Saying that you don't trust someone because of their behavior is completely valid.
pitham1
Legendary
*
Offline Offline

Activity: 1232
Merit: 1000


View Profile
November 13, 2014, 12:48:12 AM
 #13


Well, well. The worthless fiat currency seems to have become valuable at some time after all.  Grin

RobertDJ
Full Member
***
Offline Offline

Activity: 155
Merit: 100


View Profile
November 13, 2014, 04:54:59 AM
 #14

Fiat is actually generally very stable, at least when it comes to the major currencies. While the picture of the hyperinflation of the 1920's in Germany is correct, it has been over a century since any major country has experienced such hyperinflation (and such inflation was caused by germany having to pay it's war debts of WW1).

If you invest your money is highly rated bonds then you will generally be able to beat inflation by a few percentage points every year meaning the net value of your money will increase.
Stifler
Member
**
Offline Offline

Activity: 66
Merit: 10


View Profile
November 13, 2014, 01:59:09 PM
 #15

Most fiats will probably fail eventually but they are relatively stable for the short term but lose much value over long term so I think there's massive gains to be made in btc currently.

Not to be confused with the user sifter Tongue.
thermost
Member
**
Offline Offline

Activity: 77
Merit: 10


View Profile
November 13, 2014, 02:04:52 PM
 #16

Can't believe people are still willing to risk losing their savings with fiat.
Bitcoinpro
Legendary
*
Offline Offline

Activity: 1274
Merit: 1000



View Profile
November 13, 2014, 02:11:56 PM
 #17

Can't believe people are still willing to risk losing their savings with fiat.

its already a stampede to get out of fiat into assets

everything was primed to burst this year n last year but bitcoin reversed that algo


WWW.FACEBOOK.COM

CRYPTOCURRENCY CENTRAL BANK

LTC: LP7bcFENVL9vdmUVea1M6FMyjSmUfsMVYf
inBitweTrust
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
November 13, 2014, 02:24:43 PM
 #18

USD Fiat is an extremely risky investment that one should only hold onto for short periods of time.


Lauda
GrumpyKitty
Legendary
*
Offline Offline

Activity: 2338
Merit: 2118



View Profile
November 13, 2014, 02:31:38 PM
 #19

Obviously investing in FIAT is more dangerous than a crypto currency such as Bitcoin. People are just a tad too ignorant to see.
I like keeping my stuff in metals of different sorts.

████████████████████████████
████████▀▀ █▀ █▀ ▀██████████
█████████▄ ▄▄▄▄▄▄███████████
██████████▀     ▀  ▀████████
███████▀ ▀  ▄█▀▀▀█▀▀████████
██████▄      █▄  ▀▀  ▀██████
██████         ▄▄█▄ ▄ ▀█████
█████ ▄         ▀▀ ▄ ▀ █████
██████▌          █▀█▀ ▐█████
███████  ▄▌         ▄ ██████
████████▄█         ▄████████
█████████▀     ▄▄ ▄█████████
████████████████████████████
.JACKMATE'S...........
.
MAJESTIC..
████████████████████████
███████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
████████████████████████
.
..WIN 1 BITCOIN ON EVERY PREMIER LEAGUE MATCHDAY..
████████████████████████████████
████████████▀█▀ ▀█▀█▀███████████
███████████▄ ▄▄▄▄▄▄▄████████████
███████████▀▀▄▄▄▄▄▄▄▄███████████
█████████▀▄ ██▀▄▄▄ ▀ ▄▀█████████
███████▀ ▀█████▄▄▄█▄▄▄██████████
███████▀▄████████▀  ▀█ █▐███████
███████ ▀█████████▄█▀▀██ ███████
████████ ███▀██████ ▄ ██ ███████
████████▌▐▀▄ ██████████ ▄███████
█████████▄██▌▐█████▀██ █████████
████████████▄▀▀▀▀▀▄ ▀▄██████████
████████████████████████████████
.
.JOIN US - IT'S FREE! .
BADecker
Legendary
*
Offline Offline

Activity: 2128
Merit: 1116


View Profile
November 19, 2014, 01:43:57 AM
 #20

The question is about life savings. This answer isn't about life savings.

The best investment as life savings protection for the future in the U.S. is, fertile land with water, where the patent has been "updated" to show you as the owner. Other than that, gold, silver, copper and Bitcoin.

Even though there is inflation, keep a chunk of cash around, hidden of course, in one's, five's, and ten's - maybe include some twenty's - because when the crash comes, you will be able to transact life if you have cash. Bitcoin may collapse due to the delicacy of the power grid and Internet, and it will take people awhile to get used to trading in gold and silver again.

For a time, cash dollars will be king when the crash comes.

Smiley

Don't be afraid to donate Bitcoin >>> 1JDJotyxZLFF8akGCxHeqMkD4YrrTmEAwz !
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!