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fubarx ,

www.gocomics.com/calvinandhobbes/1991/11/29

Carrolade ,

Buy jewelry, gold and silver coins, gemstones, rolls of silk, fine pelts, expensive spices like vanilla beans (avoid saffron though, its perishable), fine porcelains and maybe a rare painting or two. Put it all in a big wooden chest with a big iron padlock on it, and bury it in your backyard. Then draw some sort of cryptic map to it in case you die unexpectedly, or forget where your backyard is or something.

Aceticon ,

Also traps, lots of traps - something fancy like blowpipes shooting darts when an intruder steps on the wrong stone of a floor puzzle, maybe even a large an perfectly spherical stone that rolls towards intruders if the weight of your chest is altered.

There’s a series of documentaries about such things were a professor of Archeology - a Dr. Jones, if I’m not mistaken - illustrates their workings.

aviation_hydrated OP ,

Good advice, thank you for sharing

aviation_hydrated OP ,

Good advice, thank you for sharing

geneva_convenience ,

Has crypto failed?

Omodi ,

Yes

hglman ,

But also no.

dmegatool , (edited )
@dmegatool@lemmy.ca avatar

BTC 130% up last 365 days. 10% up last 30 days

But seriously if everybody would use crypto, the up and downs wouldn’t matter. The value/pourcentage is only VS Fiat.

bionicjoey ,

Newsflash: currencies shouldn’t wildly fluctuate in value. The fact that people use it like a stock market investment, (and an idiotic one at that, since there is no underlying business), is exactly why it has failed to be a currency.

dmegatool ,
@dmegatool@lemmy.ca avatar

It fluctuate vs the Fiat value, not with itsleft. The supply of BTC is determined, not like the printing machines we got now.

bionicjoey ,

Nothing’s value fluctuates with itself. Money supply is controlled through interest rates in modern economies because it works better than directly controlling the money supply. Your comment betrays an unsurprising lack of understanding of the most basic concepts of economics. You’re just parroting some talking points you’ve heard from techbros.

hglman ,

No, you think economics is a physical science and it isnt. It works like it does bc its been made to work that way. It could work differently.

Also Bitcoin isn’t the only way cryptocurrency could or does work.

aviation_hydrated OP , (edited )

What does the term “wildly fluctuate” mean? In 50 years of USD fiat, gold vs USD has gone from 35$ to ~2000$ per ounce. That seems pretty rapid to me, since I can still talk to living people who experienced it

At least BTC has historically gone up, whereas fiat goes down, although only a few years of data for crypto compared to thousands of fiat, so maybe crypto will do the same as well

rockmeat ,

yeah, it succeeded in scamming a lot of people for their money

Wirlocke ,

As an aside, I’ve often wondered what would happen if everything was automatically adjusted for inflation.

So like cost of living inflates, but then income is adjusted and bank accounts are modified to be their true value before inflation.

Would this patch things up to be effectively 0 inflation? or (more likely) would this cause an absurd runaway effect?

nitefox ,

That it would spiral into more inflation, making your money worthless. Which is exactly what happened in Italy with the Lira

aviation_hydrated OP ,

The issue here is we actually don’t know how much inflation there is because we can’t measure the quantity of fiat, which is why there are dozens of “inflation measures” which just study different baskets

But yeah, if inflation could be measured correctly and everything automatically updated (wages, costs, etc) then I’m not seeing an issue logically. But at that point it’s just a fixed supply of money and prices adjust up and down, irregardless of currency type. That sound reasonable?

Prunebutt ,

Social revolution is the best retirement plan.

ToxicDivinity ,
@ToxicDivinity@hexbear.net avatar

The only way for a working class person to have any financial security is to join or build a strong union with other working class people. The rich/powerful/elites will always be able to crush us if we don’t work together

ZarkleFarkle ,

Just store infinite money tokens in a magic Orb. Lol. That’s quite easy

NomenCumLitteris ,

Gold and silver.

Clbull ,

Disclaimer: I work in accountancy (Commercial Finance) but my advice should be taken with a pinch of salt.

  1. Diversify your investments. Have savings across multiple bank accounts so that the unlikely event where one bank fails doesn’t wipe out your financial wealth., and overall don’t put your eggs in one basket.
  2. Currently, the best ROI/passive income you’ll get is from corporate bonds. A cursory glance at the Hargreaves Lansdown website shows me quite a few corporate bonds and gilts that have a voucher rate (% return each year) of over 8 percent. Do bear in mind that a bond is a loan instrument where the ROI is based on both the maturity date (the date you get paid back plus interest) and the overall risk of the debt.
  3. Another good option is to invest in high dividend yield shares or ETFs. These can offer superior returns on investment to the interest you’d get from a savings account.
  4. Avoid day trading or swing trading unless you 100% absolutely know what the fuck you’re doing. Unlike what many YouTube ‘gurus’ claim, making a living off the stock market requires a high amount of starting capital to see any kind of tangible ROI, plus sophisticated stock trading software and knowledge on how to exploit trends.
  5. Same goes for penny stocks (i.e. the FTSE AIM All Share market.) You can make some rookie gains from it. Many of the companies listed on this index are oil/gas/mineral exploratory firms that are likely not going to see any kind of profit unless they strike it big, find a new oil well, lithium mine, etc and get the necessary contracts and investment to extract those resources. They’re penny stocks for a reason.
  6. Side hustles. For example, I have two friends that are karaoke DJs and they get gigs where bars pay them to host nights. Bookkeeping is another one, but you really are going to have a lot of competition in that respect, and you will probably need the right qualifications to do it.
  7. Screw crypto. At best cryptocurrencies are speculative assets that are scarce and expensive because the very nature of how their blockchains were designed make it take exponentially more effort to mine a new coin. At worst, they’re used to launder criminal proceeds (Monero is a good example of one where the blockchain is encrypted.) NFTs are even worse.
GarbageShoot ,

What do you mean fiat doesn’t work on a finite planet? Current economic models certainly don’t work on a finite planet, but fiat was here before them and will be here after they are long gone.

what is a good way for the working class (90%+ of all humans) to save and succeed in this current environment?

There isn’t one. A big chunk of that class can do just fine and you probably already have good normative answers in that respect, but the current economic model is one that demands poverty. Even with all of the ridiculous developments in production we have, the available infrastructure even with the qualms we might have with it, and all the other things going for us that you might want to list, the closest that the current economic model has achieved to escaping its age-old need for having a sizeable portion of the able-bodied population unemployed is by slightly expanding that same portion and then having them sell themselves by the hour and minute in the Gig Economy. If you want that whole 90% of the population to all be able to do well, you need to change the system they are operating within.

boaratio ,

Just stop paying your bills.

thatsnomayo ,

I’m too lazy for this just read Superimperialism

aviation_hydrated OP ,

Good advice, thank you for sharing

thatsnomayo ,

it’s a really good book also the author’s podcasts with radhika desai begin with a good primer on it

aviation_hydrated OP ,

Cool, I’ll check it out

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