all 9 comments

[–]happysmash27 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (8 children)

Gold and silver are the most stable. If you would like convenience and/or the possibility of crazy growth, I would also recommend some QRL and Mochimo, the only two cryptocurrencies (to my knowledge) which will not be utterly decimated by the coming of quantum supremacy in regards to Shor's algorithm.

[–]hennaojisan 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (7 children)

Buy it now because both gold and silver are cheaper than they have been for a long time, especially silver. Do not make the mistake of buying silver or gold as a certificate from a company who will hold your metals until you want them. If something global goes down you will never get your metal. So get it in physical form and keep it in a secure, undisclosed location. Do not brag to your friends and neighbors about your metal—keep it to yourself. If something happens, you're going to find out who your real friends are.

Happysmash and I disagree on cryptos. I do not trust them.

[–]Snow 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

I checked about it recently,and I saw this:

I don't trust in cryptos.

[–]hennaojisan 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Ha. Yeah, that is a problem even for the pros.

[–]happysmash27 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

Happysmash and I disagree on cryptos. I do not trust them.

I don't see where the disagreement is, considering that my comment explained that 99% of cryptos have a critical vulnerability, and that even the couple that don't are still pretty risky due to crazy speculation :)

Crypto is convenient, and not fiat, but that doesn't mean it will survive an internet outage or that it is good for the long-term.

I probably should have said "volatility" instead of growth.

[–]hennaojisan 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

It was a tiny difference of opinion and that is what makes this electronic communication interesting. Yes, what has happened to BitCoin recently? It's zooming. And why is gold not following it? You remember back years ago when someone hacked another person's wallet, in Tokyo I think, and stole millions of dollars? (Really, it was in cyberspace and not a country.) But that is what I'm worried about, and an Internet outage that you mentioned, is a real possibility at some point.

I remember when BitCoin first came out and I was interested and joined a sub on reddit called BitCoin (surprise) but nobody would talk to me. I guess I am old-fashioned and like to hold onto my fairly small amount of gold physically. In fact, I am sure that I'm old-fashioned. Nobody even knows who started BitCoin, right? Satoshi is not a real person but might be a famous government organization. I don't know and that's why I keep gold and silver.

[–]happysmash27 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

If you want to see why Bitcoin specifically is a problem, please see my top-level comment again :P ! One thing many don't realise is that when quantum computers get powerful enough, they will be able to crack the private keys of almost every single cryptocurrency, which could even happen in a few years! /s/QuantumResistance is very important!

It probably won't be much of a problem for you, though, because physical gold/silver isn't just quantum resistant, but downright quantum proof! It is by far the safest asset, and definitely safer than, well, any of the 3 cryptocurrencies (last time I checked) which are quantum resistant, despite how secure they are.

Seriously though, you should add a lack of quantum resistance to reasons to avoid Bitcoin, because it is a very big problem no one has been paying attention to.

[–]hennaojisan 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Quantum computers will change everything but I hadn't considered that they will be able to crack crypto private keys. I do wish I'd bought a few hundred Bitcoins when they first came out but now it's too volatile for me. Yes, physical metal is hard to beat as long as it's secret. Do you know any Bitcoin millionaires?

[–]happysmash27 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

Not IRL, no.