Post
Topic
Board Beginners & Help
Re: I want to store bitcoin in USD without transferring to my bank?
by
VirosaGITS
on 10/10/2015, 12:22:43 UTC

Hmm, you cannot just "chance the law" here, it is a long process and cannot be overruled just because the head of the government say so, or anyone for that matter. There are some clause that allow executive powers in time of Crisis, however.

But i very much doubt you having a brick of gold in a private vault is within the domain of national security.

I would believe it may not be safe in many places in the world, but i am not under the impression that it is a risk in Canada. And i doubt it would be in the US, europe, etc.

So naive my friend. He is right, the "law" is only law until it is enforced, otherwise its just a scribble on a piece of paper.

When the global meltdown hits, I doubt a piece of paper in the parliament archive will overrule the current elite's agenda.

Face it, when shit hits the fan, everybody will fight for survival.

Like dont tell me when the ATM's wont give out money people wont break into stores and riot, because that is what will happen, and your gold isnt any more safe than the poor shop owner's groceries, from the angry mob, or other forces.

It *is* going to be safe in a vault from the angry rioters and only countries not able to self sustain will break apart if a "global meltdown" happen. And if a "actual global meltdown" happen, then BTC will be worthless, so will USD, so storing such currency in this post-apocalyptic scenario is moot.

In such case, goods will be the currency as we go back to a bartering system. So Gold, Water, toilet paper would be a better investment in this scenario of yours. Of course you would need a bunker too. ;P

But for OP, the solution is clear, he need to trust a 3rd party to hold his USD since he wishes to hide it from his bank. So he does not have many options. Buying gold is a good one.