Quote from: ErisDiscordia on March 25, 2014, 07:53:25 AM

Quote from: solarflare on March 24, 2014, 11:50:18 PM

My first concern is storage. Where do you guys keep your stash ?
It's important not to keep all coins in one place of course, but I don't know of even one safe place to keep them.

That's the thing you learn when you own precious metals or Bitcoin. There is no safety, there are no 100% guarantees. Same is true with fiat, but it is so much easier to buy into the notion that your fiat is "insured" and "protected" Wink

So you have to learn to live with uncertainty. The best way to deal with that would be diversification imo. It is harder for a perpetual traveler, though.

With bitcoins I can at least encrypt my wallets / priv-keys and copy them on papers, usb keys, disks, cloud storage, emails or even on decentralized systems like freenet.
It's easy to send copies to my family and friends and also receive theirs. I am happy with this level of redundancy and security.

Thanks for your answer because somehow it's good too know that most holders seem to be in the same boat when it comes to precious metals; a boat that can sink at any moment.
I'll do what I did for bitcoin then, hold what I feel comfortable holding and potentially losing by taking the intrinsic risk into account.

Quote from: toknormal on March 25, 2014, 09:06:25 AM

I actually think that people underestimate the extent to which precious metals are now obsolete as a store of value.

When I think about bitcoin, I see where the value is, but when I think about gold, I really don't see it. So I, for one, do not overestimate its value.
I only buy precious metals because even though it's obsolete, I don't believe people will start discarding it anytime soon. It will take a while before it is replaced in the industry and in jewelry and stuff.
It's stupid but it's been considered precious for so many years (thousands!) that it must now be hardcoded in our brains. That will take time to erase.
So for now, I think it's still a good way to hedge again inflation (as long as the global monetary policy doesn't change radically).