Voyager suspends trading, deposits, withdrawals, and loyalty rewards • Hacker News Board

Re: Voyager suspends trading, deposits, withdrawals, and loyalty rewards

#241

Post by School-Cotton » Sun, Jul 03, 2022, 1:23 PM UTC

alangibson wrote: post #54

caiomassan wrote: post #48

Earlier quoted context omitted.

i am not even 40 and got my money robbed from the bank by the government twice. depends where you live, a bank is not that good of a place to keep your savings.

We're definitely going to need details on this.

Not the OP but there are plenty of examples of countries where the government stole everyone’s deposits — usually by forcibly converting accounts denominated in a hard foreign currency to the local currency at a farcical “official” rate.

I’ve specifically heard of this happening in Argentina and Yugoslavia, but if you google “forced currency conversion” you can find many other examples.

Re: Voyager suspends trading, deposits, withdrawals, and loyalty rewards

#242

Post by spaceman_2020 » Mon, Jul 04, 2022, 8:52 AM UTC

yunohn wrote: post #231

puranjay wrote: post #227

Earlier quoted context omitted.

That’s for you to decide. Its properties aren’t hidden. You get the rules handed to you upfront and the rules are always adhered to - BTC inflation will always be what the whitepaper describes. Think of it like poker. People lose money playing poker too. Is poker a scam? Nope. You might call it unethical or gambling, but unless a player is cheating, its not a scam. And any participant willingly agreed to the rules be…

So it’s a game, like poker? Not the kind of concepts I mentioned earlier? Because poker is /none/ of those.

Now you're being deliberately obtuse. I can't engage further. Sorry.

Re: Voyager suspends trading, deposits, withdrawals, and loyalty rewards

#243

Post by ceejayoz » Mon, Jul 04, 2022, 5:36 PM UTC

kragen wrote: post #234

ceejayoz wrote: post #225

Earlier quoted context omitted.

Sure, if the collapse of the American government is your concern, by all means invest in ammo and MREs.

That doesn't sound like a winning strategy. First off, there's a big difference between a government collapsing and a government defaulting on its debt . And falsifying the inflation statistics doesn't even officially count as defaulting on debt. Second, even if a government collapses , ammo and MREs are probably not a great investment. Did you find it useful to invest in ammo and MREs when the Burmese government col…

“Buy I Bonds” seems about as far from “adolescent Rambo fantasies” as possible. lol

Re: Voyager suspends trading, deposits, withdrawals, and loyalty rewards

#244

Post by kragen » Mon, Jul 04, 2022, 10:09 PM UTC

ceejayoz wrote: post #243

kragen wrote: post #234

Earlier quoted context omitted.

That doesn't sound like a winning strategy. First off, there's a big difference between a government collapsing and a government defaulting on its debt . And falsifying the inflation statistics doesn't even officially count as defaulting on debt. Second, even if a government collapses , ammo and MREs are probably not a great investment. Did you find it useful to invest in ammo and MREs when the Burmese government col…

“Buy I Bonds” seems about as far from “adolescent Rambo fantasies” as possible. lol

I was referring to your recommendation that people, especially the 95% of them who don't live in the US and aren't US citizens, "invest in ammo and MREs" as a way to prepare for the possibility that the US government might devalue the dollar and revise the BLS CPI computation in an unfavorable way.

It's hard to imagine a more unrealistic approach to financial planning than yours. It's up there with Charlie Manson's plan to hide in a hole in the desert until all the other white people were killed in a race war prophesied through Beatles songs.

Re: Voyager suspends trading, deposits, withdrawals, and loyalty rewards

#245

Post by phkahler » Tue, Jul 05, 2022, 12:04 AM UTC

chii wrote: post #199

phkahler wrote: post #85

Earlier quoted context omitted.

If we get interest rates back up to better levels (IMHO 6 to 7 percent mortgages) they might even be able to pay interest on savings without selling loans! Unfortunately lowering rates is used to "fix" the economy. This is a failed strategy.

> they might even be able to pay interest on savings without selling loans! loans are the source of revenue. Selling more of it is the goal of a bank.

"Selling loans" is something that happens after loans are made. Much like you can sell a bond that has already been issued but has not matured.