Our money in danger ???

[Alexander666]

Hello.
The world financial system is about to colapse. how to save our money. Cash. Deposits ??? Maybe one day we wont be able to withdraw the money from the account or cash turn into trash. How not to lose wealth we possess??

 

[Dahaarkan]

Well, this is just a matter of investing your money into assets that retain their value even if fiat money loses all of it's value.

Real estate, gold or silver, crypto, whatever. These things also tend to go up in value as fiat goes down, so now is not the worst time to invest in these things. Crypto is probably the most accessible or "easy" thing to buy out of all those, so you could consider taking some of your savings sitting in your account and buying some bitcoin or something.

 

[Power of Justice [SG]]

I would refrain from giving financial advice as this is not a forum dedicated to that. Do what you think is logical, if you have money in a bank and feel in danger of losing access to it, then withdraw it.

 

[Henu the Great]

Cryptos are NOT a store of wealth, but an instrument of trade. Do not put money into them expecting it to be a safe method for saving money as you can very well lose some or all of your money that way.

Assets such as real estate and precious metals are better stores, but require logistics, maintenance and security.

 

[Henu the Great]

I would refrain from giving financial advice as this is not a forum dedicated to that. Do what you think is logical, if you have money in a bank and feel in danger of losing access to it, then withdraw it.

Interestingly enough, the more people do this the more severe the situation with banks will be and the consequences thereof.

 

[Alexander666]

I would refrain from giving financial advice as this is not a forum dedicated to that. Do what you think is logical, if you have money in a bank and feel in danger of losing access to it, then withdraw it.

Interestingly enough, the more people do this the more severe the situation with banks will be and the consequences thereof.

Sooner o r later it will happen. Enough quantity of people will do it. Who will do it first they survive. Dont you think so ???

 

[Power of Justice [SG]]

I would refrain from giving financial advice as this is not a forum dedicated to that. Do what you think is logical, if you have money in a bank and feel in danger of losing access to it, then withdraw it.

Interestingly enough, the more people do this the more severe the situation with banks will be and the consequences thereof.

Yeah, there's hardly a good solution.

 

[Cfecit]

Cryptos are NOT a store of wealth, but an instrument of trade. Do not put money into them expecting it to be a safe method for saving money as you can very well lose some or all of your money that way.

Assets such as real estate and precious metals are better stores, but require logistics, maintenance and security.

Wtf?
Seems that you don't understand well the crypto's world and the differences between the different coin.
Bitcoin has the potential to be the best store of wealth in this era. Better than gold, even. I won't explain why but you're the one who has to figure it out, you can start reading two beatiful books: The Bitcoin Standard and The Fiat Standard, both by Saifedean Ammous. I invite all readers here, if you haven't read them yet, you MUST!

 

[Henu the Great]

Wtf?
Seems that you don't understand well the crypto's world and the differences between the different coin.
Bitcoin has the potential to be the best store of wealth in this era. Better than gold, even. I won't explain why but you're the one who has to figure it out, you can start reading two beatiful books: The Bitcoin Standard and The Fiat Standard, both by Saifedean Ammous. I invite all readers here, if you haven't read them yet, you MUST!

WTF indeed. I have read about them and used them enough to know better than to expect cryptos to be a safe store of wealth. There is too much volatility for them to be reliable stores of wealth.

 

[Cfecit]

WTF indeed. I have read about them and used them enough to know better than to expect cryptos to be a safe store of wealth. There is too much volatility for them to be reliable stores of wealth.

"About them" means almost nothing, is like one reads about Satanism, he will draw wrong conclusions, it is the same as crypto, there is too much disinfo around. It's bitcoin that poses a threat to the enemy, I repeat my invitation, read these two books and you will better understand the picture of the sitation, here volality has little or nothing to do with it (unless you are talking about scam-coin)

 

[Dahaarkan]

Wtf?
Seems that you don't understand well the crypto's world and the differences between the different coin.
Bitcoin has the potential to be the best store of wealth in this era. Better than gold, even. I won't explain why but you're the one who has to figure it out, you can start reading two beatiful books: The Bitcoin Standard and The Fiat Standard, both by Saifedean Ammous. I invite all readers here, if you haven't read them yet, you MUST!

WTF indeed. I have read about them and used them enough to know better than to expect cryptos to be a safe store of wealth. There is too much volatility for them to be reliable stores of wealth.

I think real estate is the best thing you can buy, because land and homes are ALWAYS needed and valuable no matter what. However this is out of reach for many people, and I personally think it is better to put your money into bitcoin than to let it sit in a bank for years.

Having your money in a bank is a 100% guarantee that you are losing money each day due to inflation and such. In crypto at the very least you have the chance for your money to increase in value, and personally I think bitcoin and eth will likely multiply in value over the next 10 years. In my personal opinion, I do think Eth and Bitcoin are relatively safe to buy and hold for the long term, but as always one should study their options carefully and research before putting money into anything.

 

[Henu the Great]

"About them" means almost nothing, is like one reads about Satanism, he will draw wrong conclusions, it is the same as crypto, there is too much disinfo around. It's bitcoin that poses a threat to the enemy, I repeat my invitation, read these two books and you will better understand the picture of the sitation, here volality has little or nothing to do with it (unless you are talking about scam-coin)

Can you explain how market volatility has little or nothing to do with the issue at hand when we are talking about a method for saving money? Do you know what volatility stands for? Do you know that when there is a high amount of volatility your savings can one day be buffed tenfold, and the other day tenfold in losses?

We are talking about storing value long-term. This is different when we talk about alternatives for currency, or as an instrument for trade.

 

[Cfecit]

Can you explain how market volatility has little or nothing to do with the issue at hand when we are talking about a method for saving money? Do you know what volatility stands for? Do you know that when there is a high amount of volatility your savings can one day be buffed tenfold, and the other day tenfold in losses?

We are talking about storing value long-term. This is different when we talk about alternatives for currency, or as an instrument for trade.

The answers to your questions are already within the two books I have provided.
If you have money problems, you can download them for free from the libgen.

 

[Henu the Great]

The answers to your questions are already within the two books I have provided.
If you have money problems, you can download them for free from the libgen.

As you have read the books, can you present a short answer of two or three sentences about why it is so?

Having your money in a bank is a 100% guarantee that you are losing money each day due to inflation and such. In crypto at the very least you have the chance for your money to increase in value, and personally I think bitcoin and eth will likely multiply in value over the next 10 years. In my personal opinion, I do think Eth and Bitcoin are relatively safe to buy and hold for the long term, but as always one should study their options carefully and research before putting money into anything.

But putting all the money into one asset group is not a very good strategy. Other than that, yes, cryptos can work, but there really is no guarantee when simply holding onto them.

It is a much better strategy to hold something that pays dividends and to constantly increase the value of such assets in one's portfolio. This way it matters less what the value of the asset is since it generates regular income anyway.

 

[Dahaarkan]

The answers to your questions are already within the two books I have provided.
If you have money problems, you can download them for free from the libgen.

As you have read the books, can you present a short answer of two or three sentences about why it is so?

Having your money in a bank is a 100% guarantee that you are losing money each day due to inflation and such. In crypto at the very least you have the chance for your money to increase in value, and personally I think bitcoin and eth will likely multiply in value over the next 10 years. In my personal opinion, I do think Eth and Bitcoin are relatively safe to buy and hold for the long term, but as always one should study their options carefully and research before putting money into anything.

But putting all the money into one asset group is not a very good strategy. Other than that, yes, cryptos can work, but there really is no guarantee when simply holding onto them.

It is a much better strategy to hold something that pays dividends and to constantly increase the value of such assets in one's portfolio. This way it matters less what the value of the asset is since it generates regular income anyway.

I didn't say you should put all your money into crypto, just that it is the most accessible option for most people to put their money into something, and that I personally don't think it's a bad idea to get into it. Most assets require either debt or a large sum to get started.

The word "guarantee" or "safe" do not exist when it comes to investments. And the few options that are a "guarantee" or "safe", are basically worthless, unless you think a 10-100$ profit over a full year is a worthwhile investment.

The main argument against crypto is that it is "risky", but what isn't?


An investment is always a risk, regardless if you are buying gold, crypto, real estate, setting up a business, etc. Investing isn't about avoiding risk it's about managing risk through financial understanding and researching until you find something that is worth taking a risk on.

In my humble opinion, holding bitcoin is safer in this day and age than holding dollars in a bank account, especially considering what's been happening, and what might follow. And the fact that the money printer is still not unplugged.

Regardless, all this is just saying that holding fiat is a bad idea, and that alternatives exist, crypto is one of them.

 

[Cfecit]

As you have read the books, can you present a short answer of two or three sentences about why it is so?

You are really stubborn, I see. Don't you like to read? Do you think it's a waste of time?
I could easily do a little summary but the problem is that you wouldn't understand the bigger picture of the situation.
It's like a xian showing the positive verses of the Bible. Don't be like this xian.

 

[Henu the Great]

An investment is always a risk, regardless if you are buying gold, crypto, real estate, setting up a business, etc. Investing isn't about avoiding risk it's about managing risk through financial understanding and researching until you find something that is worth taking a risk on.

In my humble opinion, holding bitcoin is safer in this day and age than holding dollars in a bank account, especially considering what's been happening, and what might follow. And the fact that the money printer is still not unplugged.

My argument was and still is that putting crypto at par as a store of value with real estate and precious metals is wrong because of the high amount of market fluctuations related to them.

You are really stubborn, I see. Don't you like to read? Do you think it's a waste of time?
I could easily do a little summary but the problem is that you wouldn't understand the bigger picture of the situation.
It's like a xian showing the positive verses of the Bible. Don't be like this xian.

What is the matter? I am just asking about the reasoning behind your argument. Usually, discussions revolve around reasoning. I am sure the books can give more details, but I am asking you to summarize the reasoning behind your argument.

 

[serpentwalker666]

Ideally if you had enough money, you would want to invest in various assets. Some tried and true ones are precious metals like gold and silver, real estate if you can afford it, as the current market is extremely high.

if you are a person with knowledge of stocks and can read the market well, then stocks are a good option.

Crypto currency isn't worth it to me unless i was mining it, but purchasing it and holding it can be a good option in some cases. Ideally this would be good to do when prices for crypto currency were low.

Don't let my thoughtd hinder you though, read up on it and make a decision.

These are just a few options. Brush up on your financial understanding and knowledge when it comes to assets, stocks, crypto, gold and silver etc. That way you can make an informed decison after you have decided what you would like to do.

It never is a good idea to invest or keep money in solely one form, be it solely crypto, cash or gold for example. Most of the time diversifying your assets is a good strategy, as multiple streams of income is often a good goal to be after when investing and gaining assets.

It is true that a currency deprecates in value from inflation, yet investing is not sure proof either, so one must be careful and know what they are doing to prevent financial loss and disaster.

Cutting expenses when building income, and trying your best to stay out of debt cannot be overstated. Inflation and everything with the markets will eventually dip, offering an oppurtunity for investors and entrepeanurs to jump to greater heights if proper strategies and good financial habits are followed.

Good luck and don't rush anything.

Informed financial decisions are better than uninformed, rushed financial decisions.