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Earlier quoted context omitted.
If you don’t get paid interest at a bank, and no brokerage is going to take you on (or you don’t trust them), then what else are your options?
I mean isn't that the reason preppers love gold/silver bullion?
Earlier quoted context omitted.
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Physical cash that buys less and less with each passing day is not as useful, though.
In the event of hyperinflation the Bitcoin will hopefully gain (or at least preserve value)-- and it can be transferred online, which the cash cannot. (And in the event of a total bitcoin collapse you still have 90%). Re-balance it once a year or so.
It doesn't take much to make missing out on the 0.5% interest rate of a high rate savings account into not much of a problem.
Earlier quoted context omitted.
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Pseudo-relevant anecdote: I wanted to buy a used car a few months ago off someone on Facebook. We were meeting up same day so the easiest method seemed to be cash. I went to the bank to withdraw $7000 and was informed, much to my surprise, that it is impossible to withdraw more than $3000 without 48 hours notice. Suffice it to say, I've been seriously considering the tradeoffs of hoarding cash under my mattress.
Earlier quoted context omitted.
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
But there is also a record level of natural disasters in term of flood and fire. I wonder if an unusual level of cash was destroyed
Also, safe deposit boxes are an option, which have different security tradeoffs from a safe in your home.
Earlier quoted context omitted.
The precautionary savings of physical cash may even be on the rise as people realize how easily their economic lives could be switched off in an instant in the increasingly digital world, whether by being intentionally targeted or accidentally disabled with a lot of bureaucracy slowing down the correction. Having enough cash under your mattress that authority figures can't easily take from you is a psychological comf…
Pseudo-relevant anecdote: I wanted to buy a used car a few months ago off someone on Facebook. We were meeting up same day so the easiest method seemed to be cash. I went to the bank to withdraw $7000 and was informed, much to my surprise, that it is impossible to withdraw more than $3000 without 48 hours notice. Suffice it to say, I've been seriously considering the tradeoffs of hoarding cash under my mattress.
Earlier quoted context omitted.
Physical cash that buys less and less with each passing day is not as useful, though.
Place in a fire/water resistant bag 90% cash, 10% Bitcoin. In the event of hyperinflation the Bitcoin will hopefully gain (or at least preserve value)-- and it can be transferred online, which the cash cannot. (And in the event of a total bitcoin collapse you still have 90%). Re-balance it once a year or so. It doesn't take much to make missing out on the 0.5% interest rate of a high rate savings account into not muc…
Earlier quoted context omitted.
Physical cash that buys less and less with each passing day is not as useful, though.
If you don’t get paid interest at a bank, and no brokerage is going to take you on (or you don’t trust them), then what else are your options?
Might loose a bit to fees getting it on chain(s) (though less than intl money transfers if one is used to that), but should make it back pretty quickly.
[0] https://www.reuters.com/business/walmart-allowing-some-shopp...
[1] https://github.com/bisq-network/bisq