Post
Topic
Board Economics
Re: Will people come back to gold
by
markj113
on 15/02/2019, 07:39:27 UTC
Why do you have to rent a safety deposit box?  $40k gold is the size of a smart phone, very easy to hide away safely.
That's definitely true, and why people pick gold over silver. I think that the main problem for average joes is that they don't trust themselves holding anything of significant value at home, doesn't matter what it is, gold, crypto, jewelry, and so forth.

People feel comfortable having a bank do the work for them, where in some cases they are even insured up to a certain amount. I can have a safety deposit box be insured up to €50k, but that requires total openness.

If you don't want that your bank knows what you store, you can skip the insurance part, but that comes at a risk--frequently you see criminals accurately dig tunnels to where these units are, and we all know how this ends....

Using a safety deposit box introduces another element of risk.

During the recent Cyprus banking crisis with capital controls in place customers were prevented by the banks from accessing their safety deposit boxes.

Always comes back to "if you dont hold it you dont own it", same applies to leaving all your crypto sitting in an exchange.