It doesn't cost any more to store bits or paper in Europe now than it did when interest rates were positive. The "storage costs" metaphor as a justification for negative interest rates is a whopping falsehood.
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Now here is where storage costs *do* come in. To go deeper or longer with negative interest rates, they must resort to ever more extreme laws to make storing paper money more expensive, by banning cash storage services, charging fees for businesses to deposit cash, etc.
Ultimately, they must try to ban gold and cryptocurrency, or at least place a substantial gross proceeds tax (i.e. not just capital gains tax) on conversion between these and their increasingly regulated and restricted fiat.
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