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Comment by jackmaney | Hacker News Reader

Honestly, the older I get, the more tempted I am to attach a safe to a corner of my house, close my bank accounts, and just store cash in the safe.

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That's what civil asset forfeiture is for. That's drug money you got there you see.

(Never mind that if word gets out you will get robbed.)

United States of America v. A Medium-Sized Metal Safe Containing $86,320.00 USD.

Yeah, the whole "getting robbed" thing is probably the biggest reason why I probably won't actually end up doing it.

That, and armed guards are not cheap.

that's what bitcoin is for. A cold wallet, encrypted and backed up in multiple places would solve that problem.

That's a great way of getting robbed even without anyone needing to take your money, you would be effectively giving it away.

For example, the closing price exactly one year ago today was $880. Yesterday it was $248. So if you had $20,000 in savings and put them into Bitcoin, you'd have $5,636 now. What a wonderful savings account a 75% loss...

I swear the only reason people keep suggesting Bitcoin as an "investment" is because it is a pyramid scheme and they themselves are already deeply in the red, and see bringing in others as their only saviour.

Exactly. As far as I'm concerned, anyone suggesting Bitcoin as a viable currency for investment is either not worth taking seriously or a con artist.

Not really a good store of value when its value swings widely. Maybe when it's useful for paying one's rent and bills, but until then, I disagree.

That's an awfully volatile way to store your life savings.

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