Have you looked at Civil Forfeiture laws?
Would you rather travel with a million dollars worth of silver, fiat currency, or crypto?
At least I can scatter and disguise a key and password well enough that the feds can't seize my crypto wallet.
Until they seize your device and now it is like a pirates buried gold. Nobody has the wealth and they torture you until you tell them how to get it or you die.
Did you know blockchain wallets can exist on a post-it note with 24 random words that you can also generate yourself on paper? Those words become the key to your wallet.
Yes, you need internet and electricity to work on the blockchain. OK? You need a refinery to make silver. Everything requires some form of energy or device in order to be created. How commonplace that form of energy or device becomes will dictate how successful you are at creating it.
I'd. I like gold. I like silver. But I've made far more holding crypto than everything else combined. I mined my first bitcoin in 2008 using dual ATI x1600 pro GPUs. I've watched it from the beginning. I've consumed all the hate and all the love for it. The only thing that ever mattered to me was results. And by god did I get results.
Oh, as an investment in a world with internet, I can understand crypto being the gold coin of the digital world. Gold/ silver are already mine and processed at this point. If I want a silver coin in a world without internet and electricity I can trade blacksmith work for it. I can trade home grown potatoes for it. I guess I'm a bit of a doomer. As far as investments...DWAC at $14 a share was good enough for me. So was SBUX at $6.
If they know you have wealth and you don't turn it over it doesn't matter if it is physical or crypto, they'll treat you the same. I agree that crypto is safer from theft, but you're relying on a lot of technology remaining available to use it.
That's why I'm only for privacy coins like Monero.
If technology goes in to the crapper don't expect stores to be open. There aren't enough cashiers that can count change.
What if your “device” is just random words in a notebook that only you have the cipher for? You also you have 10 backup copies in various locations so even if they stole you notebook for some random reason they still have nothing.
Have you looked at Civil Forfeiture laws? Would you rather travel with a million dollars worth of silver, fiat currency, or crypto? At least I can scatter and disguise a key and password well enough that the feds can't seize my crypto wallet.
Until they seize your device and now it is like a pirates buried gold. Nobody has the wealth and they torture you until you tell them how to get it or you die.
Did you know blockchain wallets can exist on a post-it note with 24 random words that you can also generate yourself on paper? Those words become the key to your wallet.
Yes, you need internet and electricity to work on the blockchain. OK? You need a refinery to make silver. Everything requires some form of energy or device in order to be created. How commonplace that form of energy or device becomes will dictate how successful you are at creating it.
I'd. I like gold. I like silver. But I've made far more holding crypto than everything else combined. I mined my first bitcoin in 2008 using dual ATI x1600 pro GPUs. I've watched it from the beginning. I've consumed all the hate and all the love for it. The only thing that ever mattered to me was results. And by god did I get results.
Oh, as an investment in a world with internet, I can understand crypto being the gold coin of the digital world. Gold/ silver are already mine and processed at this point. If I want a silver coin in a world without internet and electricity I can trade blacksmith work for it. I can trade home grown potatoes for it. I guess I'm a bit of a doomer. As far as investments...DWAC at $14 a share was good enough for me. So was SBUX at $6.
I don't think you understand how crypto wallets work.
You have to enter your password to use it. If you close it or it times out, it's no good to anyone.
You can uninstall it and access your wallet at a later date as the wallets still exist without the client.
You can have multiple wallets.
If you believe you will be tortured you can create one with little or no money in it to surrender.
If they seize your device assume that device is compromised and go get a new one.
Or you could just go bury your physical money or currency in your back yard. I'm sure nothing bad will happen to you or it...
If they know you have wealth and you don't turn it over it doesn't matter if it is physical or crypto, they'll treat you the same. I agree that crypto is safer from theft, but you're relying on a lot of technology remaining available to use it.
Don't put all your eggs in one basket. You'll need barter material. But as a store of wealth, crypto has a lot of advantages.
That's why I'm only for privacy coins like Monero. If technology goes in to the crapper don't expect stores to be open. There aren't enough cashiers that can count change.
Hacks/keyloggers...
Hello 1999, Is your password PassWord! or WassPord?
What if your “device” is just random words in a notebook that only you have the cipher for? You also you have 10 backup copies in various locations so even if they stole you notebook for some random reason they still have nothing.