What risk are you taking on with a normal savings account?

If you are saying the global collapse of the financial system, crypto will be the first to fall in that case. Crypto like BTC is pretty much a more volatile market tracker.

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clbrmbr 2 days ago | parent | next [-]

Ofc a savings account has risk in real terms. But I assume GP was referring to risk in terms of losing principle in dollars.

There’s still some risk short of a global financial collapse where the FDIC rules are weakened, perhaps by making the $250k limit per individual for example, and then there being some bank failures. Or changing to only covering a certain % of deposits etc.

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anthonypasq 2 days ago | parent [-]

dont bother, hackernews commenters are constitutionally incapable of not being the most pedantic person in the room.

	▲	bangaladore 2 days ago \| parent [-]
		I believe there was an implication of the commenter I responded to that the risk of a savings account is somewhat similar to the risk of crypto. So, I asked said commenter to quantify or describe the risk. A comment simply with the text "A normal savings account does not have zero risk." is useless to a productive conversation.

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teekert 2 days ago | parent | prev | next [-]

Currency depreciation due to inflation is one.

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anon7725 2 days ago | parent | prev | next [-]

Inflation risk.

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bangaladore 2 days ago | parent [-]

I think most people would accept inflation as less of a risk then 20+% swings of the crypto market on a fairly common basis.

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sneak 2 days ago | parent [-]

If they’re that common, it’s easy to profit 20% from them.

	▲	bangaladore 2 days ago \| parent [-]
		That makes absolutely zero sense, and you know it. I understand you are here to essentially shill bitcoin given you have a company that exists because of it but at least argue in good faith.

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sneak 2 days ago | parent | prev [-]

Forcible illegal deportation is one.

ICE grabbed a US citizen friend of mine and threw her on a bus and drove her hundreds of miles away and was about to toss her over the wall to Mexico last week.

Civil asset forfeiture is another.

Tax warrants, which have zero burden of proof to be issued, are another.

I don’t keep money in banks, personally, after the third one bit me some years ago and I realized that storing money in banks makes it more likely to be stolen, not less.