13 replies to this topic

[Mr.posthuman]

Will people use this option to become billionnaire into the future by earning bank interest ?

[Mr.posthuman]

Is this possible ?

[sasuke2490]

no money probably won't exist in the same form assuming nanotech makes the cost of products reach the cost of production.

[TranscendingGod]

Simply considering the fact that neither cryogenic nor time traveling technologies are close to being a reality for any peasant like ourselves then i recommend looking at other avenues towards wealth accumulation. 

[kjaggard]

no, any cryopreserved person is legally dead and thus no longer holds property rights or financial assets. One would have to establish a trust and appoint people to be in charge of the trust and then expect that eventually when they are revived that that trust would remain, not have had any of the priniciple and any of the intrest removed, that the financial body and governing bodies remain in power and that nobody would prefer that you stay frozen or never wake to take it away from them.

[Raklian]

If you were going to be under cryogenic preservation for hundreds of years, I don't think money is going to hold the same value as it does today when you wake up. A lot can change in a 100 years, especially our perception of money's worth as a medium exchange. There's a very good chance we will undergo technological revolutions that will render money unnecessary.

[Maximum7]

LMAO. This happened to Fry in one episode of Futurama. His bank account had like .17 cents in it and by the year 3000 (the year he awoke from cryogenic slumber) his old bank account was retrieved and the accumulation he made over the years made him a billionaire. While very funny, this is very unlikey to happen. Bank accounts might be lost if they are inactive for so long and as someone else said we don’t know what currency we might be using and even then it had to be I adjusted for inflation. Yuli Ban answered a question about how 1 million dollars in 2100 would be only equivalent to 100,000.

[Squillimy]

Yea US Currency (or wherever you live) in 200 years? I wouldn't put my bets on that friend. Maybe if you shot for a shorter goal like 100 years haha you'd probably be good because a lot of people might not be working by then due to automation. But like someone said you're legally dead when you freeze yourself.

 

As for the answer to the question I may not be fully sure but I do know that the second I reach the age where life extension technologies can't take me any further I'm 'freezing' myself (in whatever form of cryogenic is available then, likely much more advanced than ours)

 

I tell people this and they think I'm joking. I'm like "ummm laugh all you want when you're dead and I'm literally a god from your point of view"

[Jakob]

I wouldn't trust any bank or index fund to remain stable and operational over the centuries. Too many political and economic factors could render your money worthless. What good is a government-backed fiat currency if the government backing it collapses? Collectables or antiques might also give you a decent ROI but you would have to sell the items slowly to avoid saturating the market, and also count on being revived in a culture that values such thing. Your best shot is to invest in something with intrinsic value, like gold and other precious metals. But in any case, you have to ensure that whatever person or organization is managing your wealth somehow survives for centuries and doesn't deviate from its initial mission.

[Jakob]

Also bank interest is a shitty way to make money since interest rates are 0.1% and inflation is 2-3%.

[PhoenixRu]

since interest rates are 0.1% and inflation is 2-3%.

 

Seriously? We have 5-6% rate and roughly the same (oficially) inflation. But yes, bank account in best case helps to preserve your money, not increase them.

 

I've heard about negative rates in some countries. Why people keeping their money in banks even under such conditions - is a great mistery for me. What the point?

[TSM]

Reminded me of this.

 

https://www.timetravelfund.com/

 

The site has been around for many years, at least 15 maybe 20 or more.  I have no idea if they are legit or not.

 

Found this post about it dated from 2004

 

http://hoaxes.org/we...timetravel_fund

[Alric]

It is definitely possible, though as other's have pointed out it is very risky at the moment. Legally you are considered dead when you use cryonics, however that is a law and it could be changed. If cryonic advances and becomes more popular and common, it is certainly possible the law could be changed and then that makes your theoretical scenario far more likely. In fact, if we look ahead, I think this law will in fact change when the first few people are revived. Once people undergoing cryonics revive and it becomes a proven science, then it is far more likely people will recognize these people as being alive.

 

You do still need to worry about a bank going bankrupt and the like if you are under for hundreds of years and the like. Though you could probably diversify and figure out plans to reduce the risk. Right now cryonics is a last ditch effort to save yourself, if we ever get to the point where cryonics is so safe that healthy people use it, then I think people will use it to time travel into the future. If people are using it to time travel in the future then they will certainly try to do it to gain money and become rich as well.

 

Though if cryonics become that safe and popular, rather than freezing yourself for a hundred or a thousand years, a person might freeze them self for ten. If you pop out of cryonics every ten years and redo your finances, then go back under you will be able to have much better control over your money while still speeding up time for yourself.

[Alislaws]

I feel like banks wouldn't like owing billions of dollars to a bunch of people in cryo tubes, (who could be woken up by some doctor, and suddenly demand their money!)

 

As soon as cryo became proven science banks will put end dates to all contracts. You'd probably find that your bank account reverted to their ownership after you entered cryo (didn't you read your Ts&Cs?!)

 

Also if you can skip forward a couple of hundred years, then why not just get to the point where aging is solved, and become a billionaire by working hard for 1000 years. 

 

The return on hundreds of years of full time employment is going to be much better than the interest on your account minus the cost of your cryo in the long term.