Would cryptos be safer than banks ?

Hoffmans

With the amount of credit being printed at the moment are banks in danger of going to the wall when it all needs to be accounted for, where on the other hand 1 crypto will still be worth 1 crypto.

lawred2

Hoffmans wrote: »

With the amount of credit being printed at the moment are banks in danger of going to the wall when it all needs to be accounted for, where on the other hand 1 crypto will still be worth 1 crypto.

1 crypto might still be worth 1 crypto

but 1 crypto might be worth sweet f**k all

one world order

Physical gold and silver is the safest. A crypto platform can always be hacked, like Cryptopia and client funds vanish.

Hoffmans

one world order wrote: »

Physical gold and silver is the safest. A crypto platform can always be hacked, like Cryptopia and client funds vanish.

True but your wallets security is in your own hands

Hoffmans

OSI wrote: »

How do you plan to realise the value of that crypto if there’s no banks to translate that value to cash?

Cash is becoming worthless there's more and more solutions coming online like crypto credit
Cards.
The worth of the say dollar has fallen since 2009
600`000% on average taking in the peaks and troughs it will never regain these losses

lawred2

600000%?

JMMCapital

No don’t mind that garbage.

Jim2007

Hoffmans wrote: »

Cash is becoming worthless there's more and more solutions coming online like crypto credit
Cards.
The worth of the say dollar has fallen since 2009
600`000% on average taking in the peaks and troughs it will never regain these losses

Need another roll of tinfoil or what???? Go learn a bit about economics and in particular the function of money...

Jim2007

one world order wrote: »

Physical gold and silver is the safest.

There is not safe option, gold/silver has no intrinsic value and consequently you are betting on something who's value is based on fear and greed. The inability to actual trade it when necessary means it's value could evaporate in a matter of hours.

4068ac1elhodqr

Jim2007 wrote: »

There is not safe option, gold/silver has no intrinsic value and consequently you are betting on something who's value is based on fear and greed. The inability to actual trade it when necessary means it's value could evaporate in a matter of hours.

Au(79) & Ag(47) both have many uses, and good intrinsic value. From electronic components, antibacterial, dentistry, photovoltics and mixed alloys.

Trading it is simple, even those lads that get dumped into some random jungle to democratise brown or some such, people carry a yellow coin in their pocket as the last option item of negotiation.

A silver backed currency might'nt be a bad thing, at least it has some finite supply, unlike some dolla' than can be endlessly quantitative-eased off a printing press.

one world order

Jim2007 wrote: »

There is not safe option, gold/silver has no intrinsic value and consequently you are betting on something who's value is based on fear and greed. The inability to actual trade it when necessary means it's value could evaporate in a matter of hours.

2,000 years ago, the same ounce of gold today that would buy a top quality suit, would have bought a top quality toga and boots. That is an impressive store of value.

The global financial system is based on fear and greed with fiat currencies based on debt that can never be repaid. Gold and silver will always be tradeable, even on the black market if the government came to confiscate it.

Hoffmans

Jim2007 wrote: »

Need another roll of tinfoil or what???? Go learn a bit about economics and in particular the function of money...

My bad ok using my calculator,
March 2010 1btc is .003$
March 2020 1 btc is 7100$
% rise is 2​36,666,667%
Fiat is backed by nothing only a state promise
Could physical silver be the way to go banks are in big trouble

dxhound2005

If gold is going to be confiscated by the government, people who left their stash with some storage company should get it out immediately. The government would force those companies to hand it over, whereas you could keep it at home in a safe. Over the past 100 years people who wanted a suit of clothes for their gold, would have had to cut their cloth so to speak at times. And note how its value is stated in fiat currencies.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

4068ac1elhodqr

dxhound2005 wrote: »

If gold is going to be confiscated by the government, people who left their stash with some storage company should get it out immediately. The government would force those companies to hand it over, whereas you could keep it at home in a safe. Over the past 100 years people who wanted a suit of clothes for their gold, would have had to cut their cloth so to speak at times. And note how its value is stated in fiat currencies.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

True enough if you use a gold (bullion) 10kg bar from somethingbullion.com, as a doorstop, it's still classed as bullion due to it's nature.

On the other hand random slightly vintage 925 coins (antique/currency), or jewelery might side-step this.

But both can be valued in whatever currency you are selling to.

Also with the end of cash looking closer on the horizon, the notion of the original trading system (barter) will look appealing. If you've a field of carrots, that can quickly become a plate of spuds and bacon.

dxhound2005

A lot worse things have befallen the earth than the current catastrophe. Like the object from space which separated the moon from the earth. Or even wars and pestilence which wiped out big percentages of the human population.

If all comes to all and there are any people left, they won't be interested in bits of shiny metal, no more than paper money or fine art. Potable water, food and medicines are all that will be worth having.

the_syco

Hoffmans wrote: »

True but your wallets security is in your own hands

If your physical wallet fails, you have nothing.

If you forget the password, you have nothing.

If someone else gets your password, you have nothing.

If someone robs your bank account, you have a chance of getting it back.