- This topic has 13 replies, 1 voice, and was last updated 1 week, 6 days ago by CryptoDad2100.
- Friday, September 23rd, 2022 at 20:30 #380565fan_of_hakiksexydaysParticipant
Crypto may be the one thing you’ll truly own in your life, and fully control.
If you own your key, you absolutely own your coins. There’s no one, no company, and no organization that stands between your key and your money. Control and ownership is absolute.
There’s nothing on the blockchain that will stop you if you have a lien, if a government changes, or if the government decides you are suspected of being a criminal.
There’s very few things in this world that you can own without strings attached.
# -Real Estate.
I’ll start with the one that most people believe gives you the most real ownership.
Even real estate is conditional and has strings attached. You can still get a lien on your house or land, at any time. And ultimately, real estate ownership depends on on a complex system of title companies, local laws, and on a government.
What happens if that government changes? That’s how a lot of people throughout history lost their land.
Right now in Ukraine, and in many places around the world, people who’ve owned their homes all their lives, aren’t really sure if the paper that claims their ownership has an validity left, as some of them got swallowed by a new administration.
And throughout even just recent history, we’ve seen how arbitrary land ownership can be.
But even if you live in a stable government, you never know which new land laws can drop on you. All it takes is a new wacky governor of your state or province. Or run into a problem with a shady contractor and have a lien on your home.
# -Vehicle, boats, etc…
There’s probably no point going into depth here. It has all the same issues with real estate, but much worse, and with more limitations, and without the level of protection a home gets.
Obviously, having cash in a bank gives you the least amount of control or real ownership. But even the cash under your mattress has an arbitrary ownership. And most currencies are the property of a government, and are merely a debt system. It’s not actual money.
# -Stocks and bonds
Stocks gives you a share of ownership into a company…but not quiet the same as being a co-owner of a business, and with lots of strings attached and limitations. But that’s moot, since most people don’t even directly own their stock, and own it through the proxy of a broker. And bonds give you the ownership of only someone’s debt.
# -Metal, jewelry, art, etc..
These are probably the few things in life that you can really own, with no organizations getting in between, and no strings attached. But physical valuables are sometimes difficult and costly to protect.
Crypto gives you a lot of the benefits of gold, and valuable goods, where you truly own something with no strings attached, no 3rd party, etc… If you own the key, you own the coins. It’s absolute.
And it has the benefit of not having something physical. You don’t have gold bullion you have to put in a secure place, and have to transport. Crypto has the coins stored on the blockchain.
You can travel anywhere without carrying anything, and access your coins anywhere in the world.
Even if you store a seed phrase or something like a Trezor in a safe, as long as your seed is encrypted, they won’t be able to steal your funds. And you’ll have at a minimum, time to move your funds to a new wallet.
But if are faced with the equivalent of the Ghestapo that’s coming to seize everything you have, you always have the option of memorizing your seed, and there’ll be nothing they can find in your house to seize your crypto, and you can cross the border seemingly empty handed with your entire fortune.
It’s hard to find anything else in the world with this level of absolute ownership, that’s also censorship and seizure resistant.Friday, September 23rd, 2022 at 20:30 #380566twalker14
What if crypto is like 90% of my portfolio..Friday, September 23rd, 2022 at 20:30 #380567hawkdog09
… unless they migrate to a new token and you aren’t aware, fork the token, vote through w/e governance method they use to change certain facets of the coin, alter gas fees, change staking minimums, etc. The vast majority of coins are not even close to immutable.
Literally holding a precious metal is what you describe. Let’s not make most crypto out to be more than it really isFriday, September 23rd, 2022 at 20:30 #380568kirtash93
I am here for the money to buy a house but I like to support this evolution.Friday, September 23rd, 2022 at 20:30 #380569Far-Scholar9028
Its okay to speculate on crypto, but no more than 10% of your portfolio should be allocated to crypto!Friday, September 23rd, 2022 at 20:30 #380570Xpressivee
Such an undermined perspective!Friday, September 23rd, 2022 at 20:30 #380571roarroar6767
Thanks for the post OPFriday, September 23rd, 2022 at 20:30 #380572Ready-Temperature-23
I would love to invest in every one of them but I hardly save a few bucks every months and that’s why, I’m crypto maximalistFriday, September 23rd, 2022 at 20:30 #380573BakedPotato840
>But if are faced with the equivalent of the Ghestapo that’s coming to seize everything you have, you always have the option of memorizing your seed
Memorizing your seed can be too difficult for some people, they should rather use their prison pocketFriday, September 23rd, 2022 at 20:30 #380574CrowdGoesWildWoooo
The only problem with this perspective is that crypto is still not acceptable in many places. Crypto is meant to be money, but what is a money if the other party don’t accept it for whatever reason.
Like if you go to a remote village say in vietnam, buy something and they charge you 2 dollars worth of local currency but the only money you have is 100 usd, do you think they’ll accept? I don’t think so, although it is like 50 times worth more than the price.Friday, September 23rd, 2022 at 20:30 #380575GramblingTigers1973
Having r/ButtcoinASA in your flair makes me trust you 100%Friday, September 23rd, 2022 at 20:30 #380576N0tMac
The boy pitched this at a crypto subreddit.Friday, September 23rd, 2022 at 20:30 #380577Kilv3r
I agree. Crypto is where my savings should be and currency are.Friday, September 23rd, 2022 at 20:30 #380578CryptoDad2100
Just a couple things:
Real estate isn’t really ownership. Speaking for the US, you don’t own land, the government does. It’s more subtle than in places like China, but it’s the same thing. There is no private land ownership. By extension, anything built on government land is also ultimately government property because if they take “your” land they take whatever is on it.
In the US the government doesn’t have to change for that to happen as you mention, you just have to stop paying your taxes long enough.
Yes crypto gives you ownership (private key). That only goes so far though – your ability to redeem it for anything useful is still subject to government laws and some point in the transactional chain.
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