[can16358p]

Yup. I live in Turkey, and don't trust the local currency (Lira) and the government's power over banks to keep my dollars too.

Crypto is the safest in that sense for me, and a stablecoin is ironically more trustworthy than my country's currency in general.

Yet I don't trust USDT or UST so I'm on relatively more trustable USDC or BUSD.

[pja]

Yes, BUSD & USDC have regular attestations that their holding of USD in bank accounts backed by the US government & US treasuries are real.

Tether on the other hand has invested mostly in commercial credit, who’s counterparty they decline to identify. Given that they constitute something like the 5th largest commercial credit fund in the world on that basis & the other funds deny seeing them in their markets, it seems that they’re lending to ... lets say unorthodox counter parties.

Some have suggested that they’ve been lending to Chinese builders, but it seems more likely to me that they’ve been lending Tether to cryptocurrency trading houses and marking it up on their books. This would create a self-feeding circular dynamic at one or two removes; if so the whole thing could unwind quite spectacularly.

[ptero]

It seems to me that some gold coins would work even better in this situation (for longer term savings, not something you move in and out every month). Did you consider this? An honest question.

[can16358p]

Got some in the family. But as a person who is interested in technology and a developer, I'm finding crypto more fascinating.

Long-term stability wise I think crypto will outperform gold anyway.

As a smart contract developer who knows a bit about the inner workings of crypto, I picked it.

But frankly yes gold would also be a good option. It has its own risks but safer than my country's currency for sure.

[cdiddy2]

its harder to send/receive, harder to verify authenticity, and harder to store gold coins compared to any crypto asset

[lupire]

Where can I download gold coins?

[pjc50]

You can buy small quantities of coins off dealers for a very modest spread plus the cost of insured postage. I have a few sovereigns at the back of a drawer from the 2008 crisis which have basically held their value. There's no magic to it, it's just a nice shiny object.

Converting back to cash at a reasonable rate is probably a lot harder.

(UK note: new gold is subject to VAT. Buy used.)

[ptero]

You compare the convenience of a download against having an asset with a few millenia of history in your physical possession (which is not without its own risks) and pick your poison.

[ulzeraj]

Try passing through border control on such countries while packing gold or expensive gold accessories.

[ptero]

Gold is one of the easiest things to smuggle: it is compact and can be easily melted, painted over, made to look like a cheap tourist souvenir, mixed with other components, etc. and then recovered at the destination.

That does not mean that it is trivial to smuggle gold out, but if you need to do so, the chance of success is pretty high. Much higher than smuggling out fiat money held in a government-regulated account during capital controls. My 2c.