Egregoros · Phoenix Framework

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a stranger from your door

need thoughts on
"is it wise to take out and use all your money before entering a war or not"

i feel like long term investments (pension funds, stocks market) during warzone life for a non-rich-rich guy are a poor choice. never thought about this before

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

I don't think it's ever wise to take out and use all your money.

Giving advice is almost impossible without knowing your situation, but generally speaking you want to diversify over a broad range of assets in order to minimize risk.

Self-custodied Bitcoin is still an incredible asset. It's liquid, accepted globally, you can carry it around in your head and it's the hardest form of money ever invented.
I would definitely want some during a crisis.

JC Brand

@jcbrand@mastodon.xyz remote

@lebronjames75

Precious metals (Gold, Silver) fill in some of the gaps where Bitcoin might fall short. They're physical, don't need the Internet or electricity and in a crisis anyone would accept them. Drawback is that they're bulky and difficult to transport over borders. That's where BTC is much better.

Concerning pension funds... difficult to say. Depends on your age. For me they're much lower down the list, particularly because they penalize you for withdrawing and tie you up in rules.

Replying to @jcbrand@mastodon.xyz

billiam

@billiam@shitposter.world remote

@jcbrand @lebronjames75 physical items which
1. have a long shelf life and/or you'll use anyway in your day-to-day life
2. are highly needed or desired
3. are small / compact
(4. vulnerable to supply chain issues)

e.g. basic medical supplies, coffee, cigs, guns / ammo, alcohol, gold / jewels, chocolate, makeup

if you don't use them yourself they could still be useful for selling / bartering / bribing. Maybe don't go out of your way to buy all of them, but if you're buying them anyway then maybe get some extra.

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