no it's not your gold technically - but the law gives you the ownership, because the bank is only a custodial owner.
For cryptos, the law doesn't make this promise for you, and even if they do, crypto being mathematically secure, the courts can't just declare an outcome that cannot be achieved in reality.
You're cute that you think someone is going to go to jail for "losing" items from your box. Happens all the time. Safety deposit boxes are unregulated so there's nobody to complain to and the local police will shrug and say it's a civil matter.
Eh, I was more commenting on the difference between regulated/reversible vs unregulated/non-reversible spaces. Didn't know that deposit boxes were unregulated, so my point doesn't stand. Thanks for saying I am cute tho :)
You should really look up the policies and expectations on a safe deposit box with banks. This is definitely not the case.
Finally, look up executive order 6102[0]. Where by decree due to those "evil" people who where hoarding their savings (as they should) got their gold seized.
While I don't agree with EO 6102, a society hoarding its wealth in precious metals buried in pits in the ground isn't great. Its far better for that value to be used productively.
Gold is money. You’re effectively saying “the people shouldn’t have access to savings or retirements, as we know better than them.”
The larger issue at hand is that some people believe they are better and smarter than others and therefore, they ought to have more control and say than the ignorant public.
I on the other hand do not know, nor presume to know, what is better or worse for anyone but myself.
I'm not saying "the people shouldn’t have access to savings or retirements", I'm just saying that savings and retirements locked up in paper currency under a mattress or precious metals in a hole in the ground doesn't really do much for society as a whole and is negatively productive overall. Money shouldn't be what's valued, investments should be what's valued.
Like I said, I'm not a fan of EO 6102 so I'm not necessarily one here arguing the government knows better than everyone else what to do with your wealth. I'm just arguing its not great for society if everyone just digs their own hole to store their acorns indefinitely. Its better for us to actually use our wealth instead of hoarding it away in negatively productive places.
I have a good bit of savings and retirements. Very little of it is in "money". Most if it is in some kind of productive asset actively building wealth not just in my investment but with the rest of society overall. If your retirement is based around holding a lot of paper (money) in a box under your mattress you're gonna have a bad time.
For cryptos, the law doesn't make this promise for you, and even if they do, crypto being mathematically secure, the courts can't just declare an outcome that cannot be achieved in reality.