Reasonably safe Crypto funds when traveling.

[Lake-Effect]

Originally Posted by Invictus69

It is shocking how many people still live and believe the fiat money bubble.

It's shocking how many people pretend to understand macroeconomics.

I have no doubt that digital currency will eventully become more broadly accepted and used, but we're not there yet.

[GordMay]

Originally Posted by Lake-Effect

It's shocking how many people pretend to understand macroeconomics...

FWIW: British people, for instance, “lack a basic understanding” of economic statistics, such as unemployment, or the government’s deficit, and at the same time mistrust official data, a report [1], funded by the Office for National Statistics, concluded.
The research, which surveyed 1,665 people online, and followed up with in-depth focus groups of 130 people, found that the public’s financial understanding was better, in topics that had direct relevance to their daily lives, such as interest rates and inflation, than for more abstract concepts, such as gross domestic product or unemployment levels.
The report comes after the Financial Times announced [2] it would launch a charitable foundation to support financial literacy and inclusion early in 2021 to help people better manage their own money and their lives.

[1] “Public Understanding of Economics and Economic Statistics After the COVID-19 Pandemic (ESCoE DP 2023-13)”
➥ https://www.escoe.ac.uk/publications...d-19-pandemic/

[2] “Letter from the editor on the FT’s Financial Literacy and Inclusion Campaign”
➥ https://www.ft.com/content/fb0407f0-...7-b1d1d39c67a9

[skipperpete]

Originally Posted by Invictus69

Just came across this thread which started in 2022 and was revived later.
Few observations:


- It is shocking how many people still live and believe the fiat money bubble.


- Trusting one's life's work and saving to somebody who can just create/print 'money' whenever they wish and 'buy'/take your wealth from you at any point. USA and US$ is exception rather than a rule because of its world reserve currency status but that doesn't change the 'all fiat eventually goes to zero' fact. It is a matter of time.



- On a longer term, prices don't go up but purchasing power of money goes down.



- With exceptions of few individuals, I am surprised how many people still didn't make a smallest effort to try to understand bitcoin before repeating the fiat establishment narrative.



- Kudos to those who tried to explain to newbies. I generally explain things to those who ask, otherwise it is a waste of time.



- Given where the price is now, I was thinking that I am late into learning about bitcoin but given the above, it looks that we are still early.


Thanks to those who posted some useful links for those who like to learn.

When this thread started back in early March 2022 Bitcoin was $38,070 US per Bitcoin, this morning it’s $51,655 per Bitcoin. Would I buy at that price ?….. nope!…… would I sell at that price? Not unless I really needed the money or the tea leaves suggested to me that now was the time. I only have 3 left now and I’m interested to see how this plays out . I don’t consider that any crypto funds are “Reasonably safe” for traveling and wouldn’t even consider any other than Bitcoin and possibly Etherium.
I,m in Australia and at the moment there’s a serious public discussion about getting cash out of banks, even a small $2,000 withdrawal over the counter requires pre booking at my bank, only the ATM has cash and then only if the machine is refilled and the power and network connection is available and after the recent series of severe storms and power outages we had several days of no fuel, no traffic lights, no aircons/refrigeration, no house lighting, no Internet or cell coverage and definitely no ATM’s. I could have removed and sold my genset and spare fuel if people had cash (or gold) ….. I was asked.

[poiu]

Originally Posted by Invictus69

Just came across this thread which started in 2022 and was revived later.
Few observations:


- It is shocking how many people still live and believe the fiat money bubble.


- Trusting one's life's work and saving to somebody who can just create/print 'money' whenever they wish and 'buy'/take your wealth from you at any point. USA and US$ is exception rather than a rule because of its world reserve currency status but that doesn't change the 'all fiat eventually goes to zero' fact. It is a matter of time.



- On a longer term, prices don't go up but purchasing power of money goes down.



- With exceptions of few individuals, I am surprised how many people still didn't make a smallest effort to try to understand bitcoin before repeating the fiat establishment narrative.



- Kudos to those who tried to explain to newbies. I generally explain things to those who ask, otherwise it is a waste of time.



- Given where the price is now, I was thinking that I am late into learning about bitcoin but given the above, it looks that we are still early.


Thanks to those who posted some useful links for those who like to learn.

Sure, but what makes you think crypto and Bitcoin is the answer?

I don’t think it is. Hard assets are the answer and if you can find some that yield an income as well as protecting your wealth from that awful devaluation as you described, then so much the better. My solution is I don’t hold cash, but rentable property instead.

[wholybee]

Originally Posted by skipperpete

When this thread started back in early March 2022 Bitcoin was $38,070 US per Bitcoin, this morning it’s $51,655 per Bitcoin. Would I buy at that price ?….. nope!…… would I sell at that price?
<snip>

And in November 2021 Bitcoin was $67,000. What happened in the 5 months between November 2021 and March 2022 is why Bitcoin is still considered risky.

And now, 2 years later, Bitcoin is still 22% lower than it was in 2021. On any day, some event could happen to cause it to spiral down again.

Like poui, most of my assets are real estate.

[skipperpete]

And a few hours after my last post Bitcoin went up another $1,000, not what l’d consider as being particularly stable…… but I bet the true believers are having a fat ol time…… until the next move. Someone made a lot of money in the last 12 hours and a host of bigger fools are hoping like hell the price keeps increasing. I’m just watching from a comfortable place happy to follow the game…… bit like the huge US lottery, if you don’t have a ticket you’ve got no hope of winning.

[barcoMeCasa]

Originally Posted by skipperpete

And a few hours after my last post Bitcoin went up another $1,000, not what l’d consider as being particularly stable…… but I bet the true believers are having a fat ol time…… until the next move. Someone made a lot of money in the last 12 hours and a host of bigger fools are hoping like hell the price keeps increasing. I’m just watching from a comfortable place happy to follow the game…… bit like the huge US lottery, if you don’t have a ticket you’ve got no hope of winning.

Though the cycles are very well known & understood driven largely by the deflationary nature of the software, next halving in April. As a long term investment it's been pretty much the best there is over it's lifetime. The global colossal financial investment behemoths have been buying up billions of dollars of BTC in the bear cycle so supply is quite a lot less.
But some bloke on the internet says it's all a big con and a scam, someone should tell them. 🤣 And insist that we stick to shiny metal & pretend fiat as a store of wealth instead of humanity evolving to use much more suitable technology. Too late, can't kill it now. No wonder the US is so scared having no control over it. Dollar not really a big thing any more.

[GordMay]

Originally Posted by barcoMeCasa

...Dollar not really a big thing any more.

Still, the fiat $ is still the measure, by which, everyone values their Bitcoin, and every thing else.

[Pete7]

Folks,

The title of the thread is Crypto funds when travelling. Cruisers Forum is really about cruising, be it a day trip out to a sandy bay for a picnic or a world trip.

Discussing the use of Crypto as a useful asset when cruising particularly abroad is on topic, discussions about Crypto futures belongs somewhere else on the internet.

Lets keep the thread on topic please.

Peter

[barcoMeCasa]

Originally Posted by Pete7

Folks,

The title of the thread is Crypto funds when travelling. Cruisers Forum is really about cruising, be it a day trip out to a sandy bay for a picnic or a world trip.

Discussing the use of Crypto as a useful asset when cruising particularly abroad is on topic, discussions about Crypto futures belongs somewhere else on the internet.

Lets keep the thread on topic please.

Peter

Any day now >
https://www.atlaswallet.com/

[GordMay]

Originally Posted by Pete7

Folks,
The title of the thread is Crypto funds when travelling...
... Discussing the use of Crypto as a useful asset when cruising particularly abroad is on topic,

Has anyone, actually, used Crypto [as currency], when cruising?
How convenient was it?
Where can one spend Crypto', to purchase, what essentials?

[barcoMeCasa]

Originally Posted by GordMay

Has anyone, actually, used Crypto [as currency], when cruising?
How convenient was it?
Where can one spend Crypto', to purchase, what essentials?

Not directly but paid for malwarebytes & some other web based stuff which gets used on the boat last bull run. Just quick n easy & safe. Pretty much instant.
Still the morning of day 1 in crypto adoption. But it's happening. Soon to be released atlaswallet is close to linking to mastercard so pay with the card but use crypto funds. Also bill paying facility but haven't looked at that.
https://www.atlaswallet.com/banking/


If you don't like putting card details online an alternative is to use revolut, create a virtual card to pay online with then delete the virtual card.

[skipperpete]

Originally Posted by GordMay

Has anyone, actually, used Crypto [as currency], when cruising?
How convenient was it?
Where can one spend Crypto', to purchase, what essentials?

That’s a great point Gordmay, I guess if you have the mobile version of Starlink you can perform online transactions from anywhere while cruising but I’m fuzzy about how to get cash into a revolut account or usable form in say, Indonesia or Malaysia, here in Brisbane Australia there are some ATM’s that perform Bitcoin transactions but if you’re in Singapore Belgium Uk and a helluva long list of other countries on the cruiser list of places to visit you’re going to be SOL. A lot of countries only have 1 atm machine, Singapore has Zero. I think the end of crypto is on the horizon now, the true believers are probably right about the bullet proof nature of Bitcoin but once the corporate giants embraced it rather than try and kill it the writing started to appear on the wall . ETF’s and futures are the weapons Wall Street uses with great skill. To get an alternative view, and a bit of clarity try listing to Whitney Webb on YouTube.

[s/v Jedi]

Originally Posted by skipperpete

That’s a great point Gordmay, I guess if you have the mobile version of Starlink you can perform online transactions from anywhere while cruising but I’m fuzzy about how to get cash into a revolut account or usable form in say, Indonesia or Malaysia, here in Brisbane Australia there are some ATM’s that perform Bitcoin transactions but if you’re in Singapore Belgium Uk and a helluva long list of other countries on the cruiser list of places to visit you’re going to be SOL. A lot of countries only have 1 atm machine, Singapore has Zero. I think the end of crypto is on the horizon now, the true believers are probably right about the bullet proof nature of Bitcoin but once the corporate giants embraced it rather than try and kill it the writing started to appear on the wall . ETF’s and futures are the weapons Wall Street uses with great skill. To get an alternative view, and a bit of clarity try listing to Whitney Webb on YouTube.

You’re not supposed to exchange it back to fiat currency… just think of it as cash, I mean how difficult is it to understand?

[skipperpete]

Cruisers need cash, Indonesian supermarkets,Australian farmers markets and Singapore market stalls don’t accept dodgy propositions like Bitcoin…….although the US apparently runs quite happily exchanging crypto for cash, 86% of the worlds Bitcoin ATM’s are located in the US….. 34,000 of em. Most of the rest are in Canada, 4,000 is a recent estimate. I can’t see how it’s possible to cruise the world without cash.