Quote from: MalReynolds on November 10, 2016, 12:10:46 PM

Quote from: kalpit on November 10, 2016, 11:50:12 AM

If I had taken out that crypto to Fiat, I would have been left with nothing now. I live in India. In India, recently, to remove black money, the use of ₹500, 1000 notes ( equivalent to approx $8 and $16) has been banned. India would offer new notes in the coming days in exchange of that old notes.
If I had converted crypto to Fiat, maybe it would be detected as black money, for such big amounts of money compared to my monthly income in real world.

Good luck to you on your crypto investments.

I too am very interested in keeping large sums on the blockchain instead of fiat or banks. The world is changing and the little guy is getting screwed. All central banks have pushed interest rates to zero to make people spend more money and encourage consumption / growth in the economy. This has destroyed people's savings and destroyed capitalism in Europe and North America. Now the central banks are interested in NEGATIVE interest rates because raising interest rates now would drive national budgets into bankruptcy. Negative interest rates are stealth taxes by central banks that national governments don't have the guts to implement themselves. In order for central banks to start doing negative interest rates, first they have to destroy cash as an alternate safe haven for the little guys to place their savings. This is why all the large denomination bills in all countries are under attack. In the US there are serious proposals to get rid of the $100 and $50 bills. I believe this would have happened in the first year of a Clinton presidency and why I am THRILLED that Trump won - even if he is crazy.

I recommend that everybody read http://zerohedge.com daily to understand this stuff - it is really quite scary and getting worse.

You can start with this article, which everybody should read:

http://www.zerohedge.com/news/2016-11-09/american-uprising

Meanwhile in Poland our central bank is going to emit the highest denomination note: 500 zloty bill.