Post
Topic
Board Bitcoin Discussion
Topic OP
Gold has security issues too
by
cypherdoc
on 07/07/2011, 03:07:06 UTC
as a gold/silver bug since 2005, i have finally sold off 98% of my bullion holdings and moved it into bitcoin.

it occurred to me after removing the last remaining ounces from my home safe that i am much relieved to not be storing a large stash of bullion at home anymore.  when leaving on vacations with my family like we will be doing for a week this coming Friday, i would always worry in the back of my mind that my house might get burglarized.

at one time i had a stash stored at Credit Suisse in Switzerland but got spooked about them during the banking crisis of 2008 before bringing it home.  i also considered storing it in a safety deposit box at my local bank but was advised that if the banking system went insolvent they could repossess it. 

i even looked at storing it offsite in a private vault but it was very expensive.  so i just decided to put it into 2 separate safes here at home. 

now i no longer have to worry about it.

and you know what?  i feel MORE secure storing all my bitcoins in an offline wallet, the balance of which i can check in the block chain at any time...