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Comment by pattle | Hacker News Reader

Why not store the money in Bitcoin instead? It's outside of government control and you should get a nice return on your investment.

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...or it might go to 0? Bitcoin is many things, but it certainly is not a savings account.

True it could, but theoretically the price should always go up. Plus there's risk in anything. I'd have thought that placing money in a foreign country is also pretty risky if you're not a citizen

No. No, no, no, no, no.

The price you can sell an asset for is whatever someone is willing to pay, on that day. If sentiment turns and everyone is selling bitcoin, the price will most definitely not be going up.

Dogecoin should also have theoretically been always going up. I seem to recall something about the moon...

Downvote for "should"

A benefit of using a foreign bank as opposed to bitcoin is if my home country's bank accounts get frozen for whatever reason, I will need money to keep myself from being homeless.

Bitcoin isn't liquid enough for me to trust it for emergencies. If I needed to pay for a hotel or a plane ticket, the process of translating that to cash, then a pre-paid VISA card is way to complicated and probably expensive.

See Rule #3: Recognize the difference between investing and speculating

Yeah, interesting. So far I have plenty of crypto, but foremost as a high risk investment and not capital storage

Again, as TFA mentions, bitcoin is speculation, not investment. It has no inherent production of value, unlike stocks.

Or lose it all, make sure to weigh the benefits and the risks.

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