Bitcoin Forum

I don't know about you guys, but for me, I have discovered that the longer one save in fiat, that is, hold fiat, the more life gets expensive, this is because fiat is known to lose value overtime for several reasons, when fiat loses value, they lose purchasing power, goods and services become more expensive, which in turn makes life more expensive.

This experience I coined from the current economic hardship my country is going through.
The naira lost significant value against some other major fiat currencies, most especially the dollar, this has made things in the country very expensive, which has also made life very expensive to live here in Nigeria.

But for those who have been saving investing, saving in bitcoin, and maybe some other major cryptocurrencies, life is cheaper as we all have seen that overtime, the price of bitcoin increases, and when this happens, major altcoins too experience the boom, thereby making good profit for those who spent fiat accumulating when the prices are low.

This is why I personally implore us all to be wise in how we choose to save our money,
Keep one million dollars in the bank for 10 years, by the time the 10 years is over, you pull out your one million and discover it can't buy much because things are no longer at the same price as they were 10 years ago.

But keep one million dollars in bitcoin for 10 years, by the end of the 10 years, one million dollars must have turned into 5 million dollars or more, and even if things have become more expensive in the market, this money will pay for it all and you will still have a lot of money left to do other things.

Yes, definitely bitcoin is better. But it is worth knowing about bitcoin and know the right time to invest.

It is better you mention the altcoins. This is because some people will invest or have all their fiat on some altcoins and it would be the worst regret of their lives.

Some altcoins did not got to all-time-high when bitcoin and some other altcoins got to all-time-high in 2020/2021. Many altcoins can be gambled with while their prices have been plummeted to their lowest, but because they may not reach all-time-high, those that invested before when their prices are high may be losing.

Some altcoins are just dead. So research, knowledge and experience are all important.

No one has earned a million dollars while the other keeps it in the bank, especially if there is high inflation in his local currency or opportunities to invest it. Even banks contact you to offer you safe and low-risk investment opportunities, but the return from investing a million dollars varies according to your investment. It is true that investing in Bitcoin is profitable, but not Put your eggs in one basket and diversify your investments according to the options available to you while investing in unrelated asset classes.

It will be expensive to save fiat because we will encounter some inflation issue and that decrease the purchasing power of our save fiat for long time. Unlike if we save Bitcoin and other top cryptocurrencies where it gives us huge potential to earn a lot of money especially if the price of bitcoin and other alts goes pretty much higher than we expect. For sure from that we can buy a lot of things that's why we think about its cheap because we can afford it.

The only problem with this is the transaction fee of bitcoin since if we encounter the same case happening right now where the fees is so high then maybe we will get hurt paying high amount of money each transaction we made. So hopefully some can find a solution to aid up these issue since bitcoin is good to transact when fees is so cheap and for sure no one will think that this is also expensive and might all people would ever think about using this for more future use.

Correct, I am a Nigerian and in my country, our fiat currency is losing weight and the dollar is increasing as days pass by and those that invested their funds in the fiat naira have lost almost everything because the naira have no value and the cost of commodity is high.
So it is a bad idea for one to invest his or her money in any fiat currency because fiat currency is at risk.
Cryptocurrency (Bitcoin) is safer than fiat, so we should invest our funds in Bitcoin.

You are apparently correct, because I haven't heard of any story whereby someone invested his or her fiat currency in a fiat bank and gets a million profit. But in Bitcoin, an investor can decide to invest 2 or more million dollars in Bitcoin and hold it for 10 years and get more than a million profit (although it's not guaranteed). However, I still agree that it is not advisable to invest all eggs in one place because they might get broken, but if they invest in separate places, like real estate business, fiat and Bitcoin, it will be better and safer than investing in one place.

Every year, the power of money continues to decrease and it seems as if the price of goods is increasing even though in reality the value of the money is decreasing. If you have Bitcoin as an investment then you have protected the value of your money from a drastic decline due to inflation. In the next few decade, the price of Bitcoin will continue to rise and those who want to buy Bitcoin will have to spend more money to get it, therefore invest in Bitcoin from now on using the DCA method.

Saving money in bank is actually the last thing I should be thinking of because banks are indirectly extorting us with exorbitant charges whereby if you had 1m Naira in your bank account by the end of the month you would noticed it's no longer 1m rather 999k, okay let say you wanna save for about 2 to 3 years you would noticed that you won't get exact figure in return and due to economic crisis you would noticed that such money is no place to be quantified to have a quality goods or product worths such amount but if invested in bitcoin or any foreign currencies that we knows that always gain weight over our currency, it  will appreciates overtime whereby if you decide to have back your money in local currency you will be amazed with the profits.

agreed

but btc is still not used completely by society you still need fiat better to have different kinds of savings

one for daily expenses / one for emergency purposes / and one for investment or in cryptocurrency specifically you can’t save money for emergency in cryptocurrency because most markets are volatile there’s no assurance that by the time you need the money it has doubles or seen some profit it might even go lower for some altcoins so divide your money smart

Bitcoin do beat inflation and fiat is no match to that considering the interest we earn from banks. We need to understand one thing that never go with a single asset for all your investments I would rather put 50% or 40% of my investments into Bitcoin followed by a mix of startups,  real estate and stocks. But never with Altcoins on a longer run as you mentioned even if Altcoin reaches ATH it will eventually drop and there is no guarantee that it will pump back hence I would skip Altcoin and yeah hodling fiat is one of the biggest blunders one can make. I would choose Bitcoin over Fiat anyday but need to take entry at the right moment it should be the peak of Bitcoin you invest your funds and wait for years to even make a break even, and occasionally you may convert your hodling to fiat whenever it's at peak of you have invested during bearish market.

You're spot on, OP. It's very obvious, except for those who've refused to realize that inflation has a way of dealing with fiat. This isn't the case with Bitcoin and that's because Bitcoin (from its angle as an asset) increases in value. It's not advisable to pile up cash in the bank as savings. The best thing to do is swap the cash for Bitcoin every pre-halving year and then wait till a post-halving year to reap the maximum dividends. As for inflation bitten countries like mine, those in cryptos in these countries who've swapped their fiat stand a double chance of earning both ways – the exchange angle and the rise in Bitcoin value. So, it's a win situation to keep funds in Bitcoin than in banks.

It's easier to lead your life with Bitcoin than the fiat of your country because that way you know your holdings are safe provided you have your keys because you won't be receiving messages from your bank telling you they took a certain amount to maintain your credit card or bank without your permission and also your privacy is assured unlike the traditional banks where they want to be all about your business using the guise of KYC and due diligence services.

With the way inflation is biting hard, your millions in the bank become worthless as you won't be able to get the exact value for it. Bitcoin makes life cheaper but if it doesn't get accepted as a world means of exchange, we'd still need to convert it to fiat when we want to purchase what we need and to me, there lies the problem.

FIAT is not for saving. It is only good for spending. It is because of the inflation the central banks create as you already pointed out. The more assets you own, the richer you are. Even if the central banks raise the interest rates to a ridiculous number (like 10%+), eventually they will have to lower them again and then asset prices will go up against the dollar. The only fools here are those who sell their assets (unless they have to sell it for various real life reasons) during that high interest period. Do you sell your house or car just because the rates went up? Then you shouldn’t sell your investments too because your investments make you money. They may fail to make big money today but that will eventually change in the future.

It's because that fiat can't skip the inflation that a country is going through. Most of the fiat currencies today are suffering inflation and devaluation. Whilst for Bitcoin, it is a deflationary asset and that's why it's best for us to keep savings in there.

Some people might argue that it's not best for them looking at their economic situation and that's fine. But for the most of us, we've seen where it is better to save money and that's through Bitcoin. As you save, you don't only save but you also invest.

While I am a believer of Bitcoin and based on our calculations this could happen or even more than that. But I just want to say that we don't know what can happen in 10 years time. A lot of things really can happen and change.

Yes and no.
Don't forget that :
- The price of cryptocurrencies is subject to huge jumps, both up...and down.
- prices of goods are formed in local currencies or world currencies (dollar)
- in a sufficient number of countries - cryptocurrency, to put it mildly - is either outlawed or income from crypto-trading is subject to additional taxes
- your salary - 99.999% of the population - is in local, fiat currencies

So until the situation changes on all counts, cryptocurrency is still a risky investment, but not a means of settlements for everyday life

Fiat is indeed suitable for spending to meet the needs of each country. However, using it as long-term savings is not the right choice. If it takes 5 to 10 years, perhaps the money we save will be meaningless because money continues to experience inflation every year. We can feel this for real, in the 1990s $100 was already a lot and could cover 2 months' living needs in my country, currently $100 can only last for 1 week or less. Maybe gold could help with the store of value problem, but after Bitcoin appeared we could have a better option. Gold investment is also complicated, having to go through KYC, has quite large taxes and a fairly large buying and selling gap. It is clear that Bitcoin has more advantages compared to investing in gold.

That happens in many countries. That is why we are advised to have investments in the form of crypto or gold. This is to anticipate the worst possibility that could happen in our country. By having investments, at least we can prepare ourselves and our families.

Investing in Bitcoin has provided clear evidence that Bitcoin is the best choice we have today. Even though there are still many people who still choose gold, we can also still choose Bitcoin as our main investment. A million dollars that we save in the bank won't be able to buy many things in the future. But a million dollars in bitcoin could have a higher price in the future.

For this reason, we have to prepare ourselves from now on before everything changes and we start too late.

Life is indeed sweeter with bitcoin if we indeed know how to achieve this beauty in it, I've seen some some always complaining about bitcoin all because their level of understanding about it is very poor, we cannot be doing what is not safe and expected the best from it, some don't know how to maintain a perfect security measures, wallet to use or how to safely store their wallet private keys for their privacy, some might have been scammed as well for some reasons they permitted for that unknowingly to them, yet out of these countless diverse experience, bitcoin is still better than fiat if we understand how to make use of this decentralized digital currency for our privacy and security, including being profitable.

Gold today is not a good investment to beat inflation, rather to hold value, and I think that is partly because Bitcoin has eaten into the market. Before Bitcoin, people who could save to escape inflation basically had gold, and then the rich had real estate, bought shares and things like that. Today we have the bitcoin, and also to escape inflation you can share index funds or shares of good companies, because it is not like 40 years ago, you can do it with small capitals, with low commissions and from your mobile phone. But of course, and it is normal that we say this in this forum, the best would be bitcoin, although you have to take into account the volatility, as DrBeer says.

Totally agree to this. I’m not this kind of financially independent before I start on Bitcoin investments and just relying to my salary. Everything changes when I invest on Bitcoin 2015 using my major savings on bank but the amount is not that huge at that time. I put my future in Bitcoin that and I’m so glad that my gamble works a lot.

Right now I still have some of my early Bitcoin investments while I barely touch my salary since I earn a lot now on trading and my investment. This will not happened if I just stay working and never venture to Bitcoin. So yeah, Life is indeed cheaper if you invest in Bitcoin in long term.

Keeping the coins safe is important too, otherwise the one million dollars worth bitcoin will turn zero the next time you check. Keeping devices secure and not falling for phishing scams is important here.

Although in many countries crypto is still in an outlaw state, the people there are collecting it secretly. I hope they dont fall in trouble because of this and eventually governments will be forced to become lenient about it.

My portfolio has a mix of all types of asset class as I dont like being all-in on one, but defenitely crypto is a promising asset of them all.

Fiat is only suitable for spending, not saving, because if fiat is saved, admin fees at the bank are not commensurate with the interest we will get.
investing in bitcoin can indeed provide more value than we buy it, but it requires patience if the bitcoin we own experiences a decline, and if we need it urgently we are prepared for the losses we incur.

Because there are still many countries that prohibit payments/transactions using Bitcoin, Bitcoin cannot be said to make life easier in general

You are right about BTC. As a matter of fact, in my country, people used to say earn in dollars because they thought inflation would eat away at the value of your local currency, but if you earn and store money in dollars, your fiat currency will be saved over time, and earning in dollars also means you will make more money when you convert it to fiat.

Now you said store in BTC, and I said the same: either you earn in BTC, USD, or fiat. At the current market rate, you can buy BTC with fiat and hold onto BTC rather than keeping your funds in fiat. This will give one person the benefit of the two currencies, one of which is USD and the other of which is BTC. For example, a few months ago, I bought an ATOM token and spent around 8k PKR (I don't remember the exact amount, but it was around 8k PKR), and I bought USD with them and bought the ATOM token at the price of around $19. Maybe well, the point is, when I sold them, I sold the token at the price of $9 to $10, but I was still in profit because the dollar rates were up. Haha, now you would understand what I meant by the benefit of two currencies.

I made a loss by selling low, but I made a profit due to the high rates of USD.

I agree with you bitcoin beats fiat hands down in value. But what if instead of saving my fiat I invest it in real estate or stocks which is also like buying and holding bitcoin long term. At the end the dividends from the investment appreciates just as bitcoin's value.

Secondly, I am thinking of a future time when the price of bitcoin stabilizes...would it still be profitable to save in bitcoin then? When can never tell if at that time it will be subject to the economic forces of inflation and whathaveyou.

The economic realities in the country has shown how weak the naira is and how it has lost it's purchasing power. Earlier this year, 1$ was N700, right now it's N1125. Let's take for instance, I had one million naira in my account that I had budgeted to use for project in the month of november, based on the hike in prices of commodities, I won't be able to execute the project. But if I had saved same amount in Bitcoin or stablecoins, I could easily exchange it and execute the project without sourcing for additional funds.

This is not just a Nigerian problem, there are many countries that are having same challenges and it would be a good idea to save more in cryptocurrencies than fiat.

Actually is not that life is cheaper but investing in cryptocurrency wisely can attract more profits to us for those who know how to invest properly. Investing in crypto market without knowledge of how the market works can affect us a lit if we don't learn and study the best way to hold and trade in the way. Since learning is constant, it will be a benefit for us when we keep learning about how we can diversify our investment and make as much as we intend to make from the market. Crypto has it own risks but when we understand the market fully, we might benefit more by making consistent profits.

It is because of this that the rich only keep a small amount of their wealth in cash, and they keep most of their wealth in stuff that appreciates in value or that it can produce additional income streams for them, the rich have known of this trick since forever, that is why they are rich, however a regular person will keep most of their money in a bank account and their retirement account and then discover that what they can buy with that money is very limited, so if someone wants to have a good financial future then they need to invest that money in good assets and hold them for a long time.

Fiat value depreciates while bitcoin's value continue to appreciate. This reason alone is a good way to ponder whether you go for fiat investment or just spend your fiat so you can invest in bitcoin. But it takes a lot of research to understand bitcoin and how it works in its crypto market. And if you are faint-hearted, I suggest bitcoin investment is not right for you.

With regards to altcoins, they are just created on the image of bitcoin, but it does not mean that whatever bitcoin achieves, altcoins are also capable of obtaining it. Bitcoin has reached a lot of all time highs in the market, but altcoins just resort into pumping and dumping their value until they lose totally their value and end like shitcoins.

There is no need for more research on Bitcoin, we all generally already know how Bitcoin works and what is good to do.
For long-term investment is advice to do.
Moreover, approaching this halving will be the main asset that everyone needs to hold starting today.

Some altcoins still deserve to be held long-term and still follow the price of Bitcoin.
Like ETH, which is the top altcoin that must be held from now on.
Bitcoin pumping will also increase the price of ETH because ETH is always correlated with Bitcoin and is not much different.

i once argued with my friend, regarding the issue of good investment instruments, he said that deposits were the best but i said that the money you have in deposits will only decrease, he said why is it decreasing, i explained that the value of item A should be able to bought with 1 now, in the next few years item A can only be bought with 2 or 3, that means the value of the money he owns will halve in a few decades, he started to think about that and invested in bitcoin using the reward he got earn from deposit interest, even though he doesn't really believe in bitcoin, i'm happy because he wants to listen to me that bitcoin is the best investment instrument to protect the value of the money we have forever.

It's not like buy bitcoin and sit & go. You have to trade, buy low sell high to make life cheaper or otherwise your life will be the same.

As far as I know there is not any bank that offers you 10 years deposit interest. If someone wants to make deposit, 12 or 24 months should be selected but if someone has one million dollars, then that person should forget banks and start a business or invest in cryptos like you say OP. Keep one million dollars in crypto for 10 years is absolutely the best solution compared to keeping 1 million dollars in deposit over and over multiple times up to 10 years. Deposit interests work in a way that over time, inflation eats your earnings from interest rate and actually you earn nothing by placing your money in bank while bank loans them with two, three and more times higher higher interest rate, that's how money is made.

Yes, you are right there, dude. That is the nature of Bitcoin; it can provide good future savings in terms of financial stability, or sometimes, in other cryptocurrency, it gives an opportunity to achieve others dreams in life.

And there are many people who have proven it here and who have also been helped to somehow move their lives forward. That's why others, whether they admit it or not, are already addicted to putting money in the bank; even if they have something in the bank, it won't hurt their eyes or pocket. Because they saw potential that was the opposite of the bank.

You should've stopped at Bitcoin. Why add "and cryptocurrencies in general"?

You save in fiat, you earn a little interest, but it can hardly keep up with the speed at which prices of goods and services are rising. You save in Bitcoin, what you can buy with 1BTC today, you can buy it with 0.2BTC a decade later. You save in other cryptocurrencies, what you can buy today, you cannot afford it anymore in the next decade because what you've got are already worthless.

I don't really see that item as either expensive or cheap. From my perspective, it always feels like my money is either increasing or decreasing when converted to FIAT. Yeah, in my country, the use of cryptocurrency is limited to being just an asset; you can't use it to buy food or drinks directly. So, it's quite common here for the majority of BTC users and savers to hold onto it and monitor the value changes due to the volatility of BTC prices.

Inflation doesn't impact me too much because the amount of FIAT I have isn't that large. The FIAT I have is only enough to live for a few weeks, maybe just one month ahead. I find savings more appealing in the form of BTC because when savings are in fiat, there's a high likelihood of it running out quickly due to poor money management. Yeah, my emotions aren't stable enough to manage FIAT in a reckless way.

You are correct, buddy. If you are holding dollars or bitcoin right now, know that you are among the wealthy; the value of a dollar in Nigeria right now is not negligible. You can't be complaining that things are too expensive or difficult to purchase when you can't even afford them. If you have money in a bank that you won't be using right now, it would be wise for you to invest it in bitcoin instead of a bank, as the latter will take a monthly withdrawal from your account. Additionally, if someone puts $1 million in a bank right now, I don't think they will be able to withdraw that amount of money within the next two to three years because of the charges.

Many people in Nigeria were unaware of the type of investment bitcoin is. I have witnessed situations where someone was advised to invest in bitcoin rather than saving money in an account and was told it was a scam. I don't think this person understood what bitcoin was about, and my assumption is that he is illiterate, as if someone is well educated and you introduce him to bitcoin, he will never question whether he is being scammed because if you know how to hold your coin without allowing anybody to access your wallet, you won't know anything about scam.

If you tend to have a savings, it will be wise to keep your savings in bitcoin and not fiat. That is why you need to have a job or a means of income that will enable you have both fiat and bitcoin. The reason is because if you want to hold all your money in bitcoin, it will be a risky idea, since bitcoin is volatile in nature and you will need to take care of your daily spendings. If you bought bitcoin with all your funds because of depreciation on fiat due to inflation, you might end up selling at loss, if bitcoin price dips below the amount that you bought. This is why saving in bitcoin is cool since you are only accumulating in a long period of time. The economy situation in Nigeria is getting worse everyday due to the fact the Nigeria is only a consuming country.

This only happens because bitcoin is immune to inflation. It has a limited supply which makes it an asset that cannot face inflation. The value of your asset in Fiat decreases only when you hold them. But investing is a different story which you can also compare to Bitcoin. Life will get cheaper with Bitcoin when you are able to use it for day-to-day use. You cannot wait for 5 to 10 years to grow your asset and call it a cheap life.

Which one is not the perfect solution but I do agree that it is few steps ahead of everything. While it is good to have investments in Bitcoin I think it will be wise to invest into other things too. That also increases the value of your profit and gives you the advantage in times of inflation.

Well, I agree with your ideology that fiat currencies tend to lose purchasing power over time since their value doesn't increase while the prices of good and services do. I also agree that keeping your money in Bitcoin instead of a bank should provide you much better returns in the same period of even before it because it is a volatile asset and the value can go up significantly within a short period and vice versa and someone buying and selling at the right time should get high gains.

However, as I said, someone who is keeping their money in Bitcoin will have to keep an eye on the market because it's pretty unpredictable and we never know, if Bitcoin is worth $100k right now, it might be worth $30k next year because that how it works, it has a cyclical movement pattern and investors should know when they need to enter and exit the market to make sure that they are not losing value over time.

This comparison is simply because dollar is globally accepted as a trading fiat currency and seen as reserve by almost all other countries in their central banks. The more dollar is used for trading transactions and exchange it increase in demand and the value keep raising, its purchasing power is also valuable. This is unlike other fiat that are not used for global transactions, their value decrease by the year and it is worst hit by inflation. Dollar is also hit by inflation but it foreign protective advantages shields it from devaluation. So it is obvious that bitcoin is an assets good for hodling far more than fiat.

It's not cheaper for me if I bring into account some considerations. It only presents better opportunities or rather I say, alternatives to earning and financial freedom.

The dollar rise in exchange rates has also been in close contention with the price of BTC currently and with the high charges, other cryptos have been on arms to do better and offer better service upgrades to the customers that have embraced the idea of cryptocurrencies.

Yes , I liked your point of view. Bitcoin is best to save your money from inflation . Otherwise your money will be spend by government. If you deposit your money in bank ,bank will get interest by giving loan to needy people. So , anyone can't be financially strong by deposit your money in bank . Bitcoin will give 600 percent returns in 5 to 10 years.  If someone want to deposit your money for short period of time ,then banks are good for that person.Because cryptocurrency give returns over time , short term investment can't give high returns and money will be waste.

Before, I used to save money in banks and I'm not aware that I only get lower interest from the money that I've deposited in a long run that's why I decided to invest my money in other ways, not just letting it sleeping in my bank account. I realized that if you want to be financially stable, you need to go out of your comfort zone and don't be afraid to try new and risky things like investing in stocks, Real estate, golds and buying coins here in crypto that I know for sure that the value will increase with much higher value than saving it in a bank in the future.

OP, your message is clear and it is been appreciated because some people fail to think towards this direction, naira at this point is valueless and this because Nigerian Government has continue to fail in doing the needful, how will a construction company make decision for you to pay them in the currency of their choice, indirectly rendering your currency useless, when your currency cannot longer be used to pay national and foreign debt, what do you expect, my take on this is, making your savings and investment in naira as a Nigerian is the best option, a country that had multiple exchange rate will continue to experience lapses in terms of currency value, I believe soon banks will look for customers but they won't see.

If you can make interest and profit in a bank for storing your money for ten years, how about holding Bitcoin for ten years? How much will our capital grow? that will be used here when the ten years are up?

Most likely, you are already wealthy because each time Bitcoin's halving occurs, it increases by x10 more than the earned capital that we can employ here. And I've never seen the market price of bitcoin decline with each halving rather than constantly increasing.

Of course if you invest your fiat in real estate, you will be better in the future because it will appreciate more rather than keeping your money in bank. If you keep money in bank you are only giving the bank the opportunity to loan it out to someone at a higher interest rate that won't be accrued to you and moreover at the end when you get the money back, you will get same amount but the value to purchasing power would have depreciated because of inflation. It is better keeping your money in real estate or crypto especially bitcoin.

It's cause bitcoin's deflationary, and well fiat is inflationary in nature. The longer you hold your money on the bank, the more it's going to be worthless, and the fact that you're getting paid in peanuts is even more disrespectful lol, they're literally getting rich from all the investments and stuff that they made from your money, and when they fall short the government can bail them out as if nothing had happened. Isn't that amazing??
Bitcoin at the very least brings the power of currency back to the people, and that's what makes it feel like life gets cheaper (or easier for that matter). You wait for bitcoin to increase in value, and it often does cause it's cyclical in nature, and you get to reap benefits when the timing is right.

It is not life that becomes more expensive, but money that becomes cheaper. This is how the world economy works with the endless emission of money.

This happens in every country in the world, even in the birthplace of the dollar. The only difference is that in some places it is pronounced, and in others it is barely noticeable.

I would not say that the opportunity to overtake inflation and increase money should be called cheaper living.

Storing wealth in money, or even in a bank, is utter stupidity. Even accrued interest on deposits will not help avoid the depreciation of money.

You'll have those 10 years to do other things while you wait for your 1 million to turn into 5 million. :)

But no one knows what will happen in 10 years - whether your 1 million will turn into 5 million or 1 million into $100. The probability of the 2nd outcome of events also exists, doesn’t it (although the probability is about zero).

Investment is really worthy and especially in bitcoin so whenever someone decides to save money then investment in Bitcoin will enhance their chances of gaining greater revenue. Major altcoins also process to becoming valuable during Bull run but believing all altcoins is not much easy because the main reason of large number of people to loss money is only due to their misunderstanding and collapsing of altcoins.

People are choosing altcoins because they get the knowledge about altcoins that they gives maximum return through boosting value but I think if someone share about altcoins then they should also mention that altcoins are not all trusted. The only trusted currency is bitcoin so if someone wants to put millions of dollars in bitcoin then it is not a matters of worries but if someone use this million dollars for altcoins investment then he is risking his money.

I just thought about this now: if, with bitcoin, it is possible that our money will be x5 or more of our capital after 10 years, what about Ethereum, Litecoins, and BCH? Do you think you can only get x5 and x10 profit from the capital we used?

Guaranteed more than 20x the earnings that we will earn in the market, that means we will get higher earnings in ETH, LTC, BCH, and other cryptocurrencies that are in the top 30 at least, especially when the bull run comes. What about what do you think?

Your money has the potential to grow 100 times from the initial amount. but no guarantee


Every timeframe yields different results. After the all-time high, prices may drop, but on an annual basis, they generally keep rising. It all depends on when you enter and exit Bitcoin... your buying and selling points should be profitable if your goal is investment. Just stash away your money until you really need it. Bitcoin liquidity is solid, so even if you're in a tight spot and have to sell BTC in the future, it should still be profitable.

Investments that will yield significant returns in the long term also require not a small investment. And unfortunately for many people this is an unacceptable solution, because their standard of living does not even allow them to save a couple of hundred dollars a month. Secondly, even those who can save a couple hundred dollars, can not keep them untouched for 3-5 years, because this is the period that now allows you to earn on the volatility of cryptocurrency, if we talk about "passive investments". Therefore, your approach, unfortunately, cannot suit the "mass consumer".
Systemic poverty of the population in many countries is a big problem, and it "ties hands and feet" and actually leaves no chance to correct the situation.

I definitely agree with this.

Investing your fiat in Bitcoin rather than keeping it in a bank is more profitable in the long run. Saving in the bank is the traditional way of "saving" money, the majority didn't know that doing such thing is a way of making someone take advantage of your money to earn money by making a loan, etc. For me, cryptocurrency is safe from inflation unlike fiat, the only thing that's risky about it is its volatility.

No, life isn't cheaper with crypto. Crypto just preserves it's value better than fiat money(in the long term).
That doesn't mean that everything(goods, services, food, gas, etc.) is getting cheaper. The global resources and commodities are limited, while the global population is growing. The demand of that population for better goods and services is also growing. This means that the value/price of all resources is determined to only go up in the long term. Money printing and currency devaluation only makes things worse.
If something costs 100 USD, you can't buy it for 80 USD by using crypto.

Fiat loses its value due to inflation and crypto loses its value for market correction. Why are you comparing these two in this way? Bitcoin is one of the assets that can save your wealth from losing its value so it is a perfect example of a asset that can overcome inflation but it also has risks associated with it. Your daily life needs assets that you can burn to fulfill your needs so in this case, fiat is perfect as it can not lose 25% of its value over night which can happen if you are holding bitcoin. For everyday transactions, fiat is good but if you are planning to save your wealth for the long term then saving your fiat currencies in the bank is a very poor choice as bank interest can be lower than inflation sometimes. Your fiat will lose its value over a long period of time if you keep it in your savings account in a bank. In this case buying bitcoin and keeping it in your custody can help you save your wealth from losing its value. 

We have the same situation as your country, our currency Pakistan Rupee is getting devalued against the dollar and it has depreciated a lot in the last few years. It has also taken a toll on our economy, and with it the prices of all the things that we need in the market have gone up manifold. People who kept money in banks or kept it in pkr, it got devalued. Now this money cannot buy things that could be bought easily a few years ago.

So I have invested most of my money in the cryptocurrency market, but one thing should be remembered that you should always invest at the right time, because I too, due to inexperience, invested when the market was on the rise, and then the market started to fall. However, it is not necessary to invest only in cryptocurrency. Real estate, gold and many other places can be invested, and one should never invest in one place, because the cryptocurrency market is still alive, it could end tomorrow.

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Yes. We should also consider some things or their disadvantages, and not only pure advantages. We shouldn't forget that BTC is a highly volatile coin. Which means, its value can also go down and most of the times stay in a dump position. BTC is an opportunity if you know how to utilize it well.

The dollar itself and other local currencies can be said as a contender to BTC because both offers different functions. But for now, BTC has a lesser user than them because it is newer and also a little bit complicated. I still believe that this number can improve later on, especially when many countries have joined the movement and then made BTC a legal tender.

The dollar or local currency is already legal tender and if it is said to be a competitor to Bitcoin in my opinion it is not appropriate.
Bitcoin is an Optional Digital Asset that can be chosen or not and still payments using traditional currencies are an option.

Adopting and making Bitcoin legal tender requires some consideration and research so as not to have a negative impact on traditional currencies as the primary payment.
Bitcoin is complicated for beginners who don't know what Bitcoin and crypto are, and also its fluctuating price makes this more risky.

Even in my country Bitcoin is still used as a commodity asset and should not exceed these regulations.

Was curious about how bitcoin will be in the future if we all realize what is happening today with fiat. Anticipating the worst is a nice idea to prepare for the future, but then relying on bitcoin might be a 50/50 chance of beating inflation.

Not so sure about bitcoin, we know how several institutions are accumulating more and more of bitcoins which could be the worst possible way of having a currency that depends on decentralization.

Preparation is better than cure. If we start saving today, I guess, in any way, from fiat to gold or bitcoin this will be better than nothing at all.

Its a tough situation to counter back there. Valuation being pegged to USD and most articles having a USD reference makes things costlier than before.

Most of the money? I hope you still have liquid cash at hand because that will be needed in times of emergencies and you need it for daily spending. How are you keeping up the daily necessities like groceries, bills and all?

The crypto market will not end, but your country's legal approach to crypto may become strict and then things will go underground just like it has happened in Bangladesh. Hopefully as bigger names accept crypto, less developed countries will also follow suit.

If you keep your money in the bank you are sure that you will not lose. Even if the bank goes bankrupt you can always get back your savings because many banks are insured by deposit banks. Therefore it is not wrong to state that keeping money in banks is less risky because you will also get the same amount you invested.  But as OP has rightly stated keeping money in the bank in a country that experiences inflation is not worth it. This money will gradually become worthless, especially in nations that are experiencing double-digit inflation.

Keeping money in Bitcoin is more riskier compared to fiat saving but it could be a good hedge against inflation. It is risky because you cannot predict the price at a given time. This is why it will be a good option for long-term investors. The summary is that if you are not a good risk taker, it is better to diversify to other sectors like keeping fiat money in fixed deposits or investing in real estate but we all know that the returns from Bitcoin investment outshines these lesser risk investments.

Most people invest in the crypto space when the market is pumping. They are moved to invest by the FOMO but this is not the best time to buy any coin. The best approach should be the application of DCA in buying and keeping.

Not to those people who invested when Bitcoin was at $69k.  They will only agree with your statement if the time comes that Bitcoin breaks its ATH. 


This is if Bitcoin continues to appreciate.  We cannot conclude that Bitcoin price after 10 years will continue to appreciate since we all know that the future is uncertain.  Bitcoin price may stagnate, crash, or surge in the future and we are not certain which of these will happen.  This all depends on different factors that happens along the way.  What happened in the past 10 years of Bitcoin may have the possibility to repeat but more or less it is also possible that it will not do the same performance as it did prior to the first 10 years of Bitcoin.

We should always give reservations to the what-ifs and know that Bitcoin is not totally risk-free. 

The fact that fiat money is losing value is a hard truth. The value of paper money goes down, prices go up, and savings are lost. Bitcoin stands out as a sign of hope in this situation. Because it lowers prices, it balances out the problems with currency. Bitcoin doesn't have a central authority like cash does; instead, it works best with decentralization, which makes it less affected by individual countries' economic downturns

The value of a currency depends a lot on how stable the economy is in a certain area. On the other hand, Bitcoin works on a global level and is not affected by the ups and downs of any one country. This ability to reach people all over the world protects against changes in local economies. Not only is it smart of you to support Bitcoin, it's also important in today's economy. Making smart decisions that fit with how the economy is changing is what it means to "future-proof" your funds

I will gladly put all my eggs in one basket if it's Bitcoin, this is how I raise up from poverty to a millionaire today, not in dollars but in my local currency, my local currency is so far behind compare to the value of dollars, it makes no sense to put my money in Fiat.

Bitcoin isn't the only thing I got going in my life, offline I have my business and when i make money from my business I also use part of the money to invest in Bitcoin, I don't see Bitcoin going away any time sooner, the problem only begin if you invest money you will need soon.

There is nothing that can change my mind from storing my money in Bitcoin, not even a massive dump, the state of the economy in my country spells bigger trouble in the future, I won't be surprised if the Fiat keeps losing value.

Diversification has always been a strategy that is designed to protect our capital, since by having our capital in many different markets and assets we can minimize the negative impact we may suffer if one of those markets began to underperform, however if an investor is looking more than anything to increase their wealth then diversification is not really the right choice, and instead what it needs to be done is to put most of our money in a limited number of assets that we believe have high potential, and without a doubt bitcoin is one of the best options we can choose for this purpose.

We can only speculate or make predictions for the future based on what has happened in the past but our predictions don't need to be correct all the time. I know that the price of Bitcoin has gone up 10x or more after each halving so far, but it might not be the case in the future. If Bitcoin manages to reach $100k during this bull run then we will be expecting it to hit $1m after the next halving based on your calculations but bear markets don't always let that happen.

So, even though it's much better than holding your money in a bank than holding in Bitcoin, one should know the correct times to exit the market and then the correct time to take a re-entry so that they don't miss on the profits of each cycle and be able to buy even more when the bear market comes.

Of course, holding onto paper money means reducing your net worth. The value of the dollar is constantly increasing in our country, due to the increase in the value of the dollar, the value of the local currency of our country is gradually decreasing. Before we used to spend 5 dollars in local currency to do the same work, now we need about 8 dollars in local currency to do the same, we are certainly affected by this aspect. If the dollar could have been purchased and held at a time when the value of the dollar was at a normal level, we would still have benefited financially. The value of the dollar in our country is increasing steadily and I am sure it will continue to increase in the future so it would be wiser for me to invest or buy dollars now rather than save the local currency. But instead of buying dollars I think it would be a good decision if I invest in Bitcoin right now because the price of Bitcoin is going up a lot and the price of Bitcoin is expected to go up even though I already have some Bitcoin investments.

it's been like that for a long time, those are the rich people who realized this a long time ago and taught their descendants to do this over and over again.
Meanwhile, for people who were not born from rich background, they have to make extra effort to find out.

You have to choose investment options that beats inflation and you have to be disciplined enough not to use the portion of the proceeds that cover the rise in inflation. An investment into a fixed deposit into a Bank might be perceived as a "safe bet" ...but you will go backwards if you take say 10% interest that you get monthly and the real inflation is also 10%...  :o

A lot of times, the "real" inflation is much higher than the manipulated inflation that the government calculate, because they tend to exclude the products that has a negative impact on the inflation calculation.  ::)

Yes, you are right, real inflation is always higher than what governments show us. It’s enough to take familiar goods that we often buy and see how the price has changed over a certain time, but people simply don’t have time to calculate it, there’s no point in doing it because they think that everything was calculated for them.

And with bank deposits it’s even worse, since it often turns out that the profit we receive will be less than the inflation rate. deposits can be used during periods of stable economic growth, but I am sure that even in good times you can find a better use for your money than simply giving it to the bank and receiving a few interest per year.

Indeed, we are now so confused by the current conditions whare all basic needs are rising and expensive and currency devaluation can occur at any time and can cause inflation and this cannot be avoided.


Next yes. That's interesting advice from you, but not everyone shares the same feelings and sentiments as you. but, it's wise. Everyone wants their wealth to increase if they have funds and don't want to misplace it and not grow.

It is true that the increase in the value of Bitcoin in recent years can provide high profits that no bank can offer. When someone invests their money in Bitcoin over the long term, they will be able to reap profits which will allow them to avoid inflation. However, the risk of Bitcoin volatility is real and someone who holds Bitcoin must understand when they should enter or exit the market and ensure that they still have money in reserve just in case something happens.

In my opinion, fiat money and bitcoin are not alternatives to each other. Instead, they can complement each other to create a more comprehensive savings portfolio. Fiat money remains an important asset to use in everyday life. It is widely accepted and can be used to pay for goods and services. Bitcoin is a new asset class that can be used to hedge against inflation and preserve purchasing power over the long term.

For example, you can use fiat money to save for short-term goals, such as buying a house or car. You can use bitcoin to save for long-term goals, such as retirement.
Or, you can use fiat to save part of your income, and use bitcoin to save the rest.

I think rich people teaching their next generation how to make money with good morals will be able to grow their empire even more if the chances of spoiling the next few generations is kept low and under control.

However, bitcoin can be saved and passed along generations in the similar manner, only if you wish to keep it safe, not play around with MLM/HYIPs/Shitcoins or gamble with it. Life does not become easy for those who have to work and make money, neither is it easier for the rich. Both have their own share of troubles and if performed properly is indeed fruitful.

Bitcoin will not solve all these problems, it is only an asset that can have a good return and is for the future of economy. How you are spending it or planning to get more of it matters.

Yes,I think the loss of value of money is related to inflation. Of course, not only does holding fiat currency cause expensive living and devaluation of fiat value, but there are other major causes. For example, governments increase printing of money to exchange value with other fiat currencies (reserves in a better sense), debt ceilings cause deficits in budget reserves, corruption results in printing orders extra money. It's clear that as fiat currency downsides become increasingly risky, it's much better to hold onto bitcoin. I am not referring to the investment status but only analyzing the corresponding better value

We need to accept the good with the bad, and without a doubt there are many investors out there that come to this market thinking about the money they can make and it never even crosses their mind the possibility of losing money, and this is a huge mistake, because it does not really matters how good you could be as an investor or as a trader, at some point you will lose money on the markets and you need to have a way to deal with those losses, otherwise when it happens you will not be prepared and massive losses most likely will follow.

Inflation really is the killer. This is the reason why I'm not holding fiat money anymore except for the ones that I allotted for emergency funds. I hope that more, and more people will learn how inflation works so that they will do something in order for them to not get affected that much by it. I mean I only hear complaints from average people regarding prices of commodities, and goods that are increasing, but they don't know the reason why it's happening.

I don't know much about what happened with your country, but your country is just one of the countries that experienced a significant loss in the value of their fiat. Argentina, and Venezuela, and there might be some as well. I hope that you're still ok.

Not for all.
What about those who bought at the wrong time? What about those investors who bought Bitcoin when it's price is at its peak? What about those people who made wrong decisions in their investing journey? For you, maybe it changed your life, but not all have experienced that, and there might be some who experienced way worse when they invested into cryptocurrency.

Who are those people who are putting millions of dollars in banks? I'm not.
I'd rather invest it than store it in my bank account. Being wiser means more knowledge, so before investing, try to be wise and know how to invest our money.

These are all speculations on your part because of how Bitcoin's price moved in the past 10 years.
Of course, I'm optimistic about Bitcoin, but its past performance doesn't mean that it will be the same in the future. You keep a million dollars now, by the end of 2033, you might have even more than 5 million dollars, but you might have less than a million dollar as well. What I'm trying to say is that we can't predict the future.

Saving fiat currency have face risk with losses values in the future exactly many product and service values up drastically difference with how much with our fiat currency holding. I can't imagine with some countries have dropped drastically with their fiat values exactly when long term holding as their investment fund, in my country  Indonesia have few percent of dropped "Rupiah" as fiat currency values but not drastically such as your Naira local currency fiat. Comparison when saving fiat currency around $1500 maybe we can buy one motor bike but when saving it for three years later I doubt with the same fiat have chance to buy it.

I think right when move saving fund from fiat currency to bitcoin due in three years later will get highest values and not inflation yet, we adopt with some product and service in our live price increasing up but when saving fund in bitcoin will make balance it how the values of bitcoin keep increasing.

Life is cheaper if you care about your finances, control expenses to income, save and at least part of the savings you invest, which can be in Bitcoin as the OP says and also in other assets. If you add to that not relying on a single source of income (having several), you've got it made.

Savings in fiat currency can actually be subject to inflation, which can reduce its purchasing power over time. On the other hand, investing in cryptocurrencies like Bitcoin can offer significant profit potential if their value rises. Fiat currency is at the mercy of governments and central banks, which can print more money and devalue the currency. This leads to inflation and reduces the purchasing power of the money you have. With Bitcoin, the limited supply and decentralized nature make it a more attractive option for those looking to store their wealth. The limited supply of 21 million bitcoins means it is not subject to inflationary pressures like traditional fiat currencies. Bitcoin allows direct ownership and control of your funds without the need for a third party which fiat currencies cannot offer.

Why won’t things get more expensive when the government are just find of printing new money? Let’s say you buy something for x’ amount, when you come back to buy it, you’ll definitely have to pay more than x’ because there’s more money in circulation and the x’ amount you came with isn’t worth it anymore. This is exactly what happens as constant printing of money goes on. Bitcoin is a better choice for you because not only can you make some profits off hoarding it, you can also see that max supply is 21M and afterwards no new BTC (there are even more advantages of using Bitcoin over fiat, however…). Is there a country whose money is just 21M? Just save your money in BTC so your money can retain its value.

I would agree with you and also say that holding fiat currency means slowly depleting your assets. If we look at what your money was worth five years ago, it must have depreciated today. You don't have to go far to see this, just calculate the price of 1 gram of gold five years ago and the current price of 1 gram of gold. So in this case, in my opinion it is much better to invest in something rather than holding fiat currency, in that case we have to ensure the security of those things. In this aspect, Bitcoin is capable of bringing a big profit for the long term in addition to security. So I think life can be made cheaper with a little money management as well as bitcoin investing.

The devaluation of the naira has indeed led to a significant increase in prices for essential goods and services. This makes things more difficult by the fact that inflation is also on the rise, further eroding the purchasing power of the naira. I believe this is also faced by many countries around the world are facing similar issues, driven by factors such as the global pandemic, geopolitical tensions, and supply chain disruptions.

Governments of developing countries need to reduce reliance on oil exports and developing other sectors, such as agriculture, manufacturing, and technology, can help stabilize the economy and reduce vulnerability to external shocks. all these can lead to open job opportunities and purchasing power of the populace.

Dollar isn't an investment, it's just a regular fiat like your Naira. The reason why it's having more value than Naira lies in the purchasing power. We are simply dealing with inflation everyday and the government has just kill switch subsidy to gasoline, the FX Market is now float by demand and supply, the central bank doesn't control it any more, that's why we are having economy set back. We are literally now in a new default mode of the economy is the reason why naira is fighting hard to stay strong.

The mistake many of us are doing is buying US dollar to keep thinking its an investment. In a real sense, it's has been far ahead of the Naira but doesn't mean it should be used as an investment because the dollar you are holding is nothing great if you take to US to spend, you might he surprised that inflation has eaten your 5 years dollar savings wouldn't be able to buy much.

It is obvious that we need money for our daily needs, and we cannot convert dollars into our Pakistani rupees on a daily basis, but we try to convert the savings into dollars. I can't convert all my earnings into dollars, so daily needs but monthly needs are met first, then convert the money I have into dollars. If I ever have to spend more money than I need, I borrow it from someone and pay it back the next month.

Rightly said crypto currency is banned in our country and it is illegal in our country so some exchanges are working here, but they are not legally registered with the government. That is why we often worry about the statements made by the government when they talk about banning crypto exchanges in Pakistan. So we don't understand where to put our capital. Which can serve us in the last part of our age.

In countries where there is high inflation there is the tendency that savings in fiat would depreciate in value, Imagine savings in the bank losing value overtime then what is the usefulness of that savings? However it has been proven times without number the positive side of converting almost all our fiat to Bitcoin and hodl personally I indeed prefer all my assets to be in Bitcoin such that whenever I needed some fiat I utilize Binance P2P for a quick transaction, I have more trust and confidence in hodling Bitcoin irrespective of it present state of market sentiment whether bullish or bearish Bitcoin would always recover whenever the price dump

I don't know how to make you feel better. The only thing that comes to my mind is that your country isn't the worst. Venezuela experienced a much larger inflation growth, you have the worst inflation in total, but since there are countries that experienced a larger increase, maybe you're topping out? Oh, and you also don't have a war going on in there, which is starting to become an important positive factor ;D

Yes, a normal fiat currency inflating at 5% can feel like a good and working payment vehicle, but once you get above 50% a year you're done, the currency is going towards a reset and the only question is how big the damage will be. That's why countries like Sri Lanka are barely holding the 50% level, but they won't be able to maintain it because people always wake up too late, when the inflation is already above 20%. Before that they believe the government will fix it all.

Mostly people didn't hold their money in only one currency because some need them in their daily needs. Same in the case with those persons who wants to hold their tokens because they have some expectation on these tokens and they didn't hold them due to their monthly needs. And also they use this money in some other expenditure for which they used then. Mostly traders have good knowledge about the trading and they work hard even but they didn't have resources.

As resources also includes the money, in trading the most important and the main resource is having a good money. If a person has a good portfolio then it is too easy for him to make money through that.

In the end what we see is also about security and convenience. Indeed, there are some altcoins that sometimes have an increase that we cannot even predict because it is so big but on the other hand when talking about long-term investment altcoins are clearly not an option. We must be aware that risk management is important and bitcoin is much better than altcoin when talking about risk so in this case when talking about investing for the long term then the answer is only one bitcoin because by looking at the progress that is happening and the risk that is not too high when compared to altcoin then bitcoin is still very superior.
Not that I forbid to be in altcoin because in the end this is the freedom of those of us who have money and of course research as you talk about but vigilance is also important. altcoin can at any time die especially for the shitcoin project so the risk is very large when talking about long-term investment with altcoin.

That’s exactly what it is, the depreciation of money always happens when you don’t expect it, but we spend our time in order to earn this money, which then depreciates. For example, back in 2012, when I learned about Bitcoin, I could have at least invested some of my savings in Bitcoin, I wouldn’t be writing this message now)))

And it is because of this that we cannot become complacent in the way we manage our money, everyone knows that in order to earn any money we need to work long and hard hours, and it is incredibly unfair that by the decisions taken by politicians, people can lose years or even decades of savings when they did everything right, however since we cannot really affect the decisions those at the top take, we need to change the way we think about our money and take decisions that could protect it in the case a high inflation rate happened in our country.

It is not too late for you to start saving in bitcoin,  this is even the best time to even save in bitcoin because right now the fiat has no good value,  the value this time is even worse than before.  So I think it will be a big waste to even even have savings in fiat. It feel so good we have bitcoin that will help to sustain the value of the money that we worked for.

Since we are entering into the bull season it will be profitable if people invest their saving in bitcoin instead leaving it in fiat which values always depreciate.

People need to really forget about this idea that it is too late to invest in bitcoin, since even if they had heard about bitcoin during its early days it is unlikely they would have invested in it, and even if they did, it would have been even more unlikely they kept those coins in cold storage, what they need to do is to start saving as much money as they can and then invest a part of that money in bitcoin, that way even if there was an economic crisis they will still have some of their wealth protected thanks to bitcoin.

Basically, it aims to protect your wealth from pretty crazy inflation.
But for some people, starting an investment in Bitcoin requires quite mature thinking because they think Bitcoin is a fairly weak investment with high risk.
Though, crypto investment is an investment that will not experience any weaknesses except with high enough volatility.

Being late or not to invest is certainly a common question.
This will continue to be asked when someone is new to the platform.
Seeing how Bitcoin has performed to date, there will be no delay.
Bitcoin is still not all mind and the price is still not optimal, so long-term buying and holding is still a good option.

It should use the best storage that has full control, so that anyone will not lose their assets.

The baffling part of saving in fiat is that when it looses its values overtime at the conceptions of hard economy or at the hikes of goods and services, the fiats values doesn't increase or multiplies to meet up the expensive nature of the economy but if saves with Bitcoin and the expensive nature of the economy is stroked, the volatility nature of Bitcoin is liable to be appreciated and increases its values to tackle the expensive nature of the economy.
Bitcoin is potentialed to challenging cost of expenditures that is to disagree with the masses demands.

That is to say if for an instance I have $500 with of the local currency and I have $500 worth of Bitcoin, the value of the local affirmed currency is unpleasantly depreciated in Worth-ful value that it maybe seen valueless to afford tangible goods and rendering server offers while Bitcoin has its probabilities to maintain its value even with the potentials to overthrow the value of the $ and still have you surplus Worth-ful and appreciatable offers. That is to say Bitcoin could secure its value while the local currencies values is downgraded with the inability to fetch meaningful offers.

The truth is that saving your funds with the fiats is a stagnant decree that is to offer devalueness at an exchange of goods and services in matter of time while having your funds saved in Bitcoin is a chance to enhancing the probabilities to increasing of your savings (Bitcoin) values as much matter of time is observed.

Every person has their own approach when it comes to their investments.
And not all people are into crypto because of varying reasons.
But if you are already into this market, you will appreciate of learning this market and getting the benefits of investing into this.
Being late is just a relative term, but one can still join this market at any time of his convenience.

But not only as desired, but also because they see the profit opportunities that will be obtained from crypto investments that will be made.
Entering at any price does not mean that the price target to be achieved will be higher.

But it should be noted, not all crypto coins are good, only recommended ones such as Bitcoin,
ETH as the top altcoins and many more that have good potential in the future.

The approval of ETFs goes to show that BTC and crypto currency in general is gaining ground in every region where it is used and can't be controlled by government.
Even the government has seen how effective it is and have even laid claims to accuse the decentralized network of money laundering activities that are rather untraceable and beyond the knowledge of SEC regulators and policing agencies like the FBI.

The truth is that BTC is the future of money as well as AI intitiatives, electric cars, web3 and the virtual reality development ongoing. Life is sure cheaper when one has a control over their funds and would spend much charges or fees in making or completing transactions across borders.

   If you decide to invest, think long-term. Avoid getting swayed by short-term price movements and the hype surrounding certain cryptocurrencies. Instead, focus on understanding the technology behind them and their real-world applications.
   Moreover, consider seeking advice from a financial advisor who has experience with cryptocurrencies. They can help you evaluate your financial goals and guide you through the complexities of this ever-changing market. investing in cryptocurrencies can be an exciting journey with the potential for substantial returns. However, it comes with its fair share of risks. Learn from the experiences of others, manage your risk wisely, and stay patient. Perhaps one day, you'll have your own inspiring crypto success story to share!

I do agree that USD (and other currencies) is definitely not an investment, but I believe there are some people speculating on currencies, buying the currencies that they think will gain value, most of this are done within Forex Trading but I guess some people are also doing this activity outside of forex.

Just say life is cheaper with bitcoin. The clause of cryptocurrency at large that you included didn't go well with me. Some altcoins are shitty and involving them seems more like gambling. Altcoins can be worse than fiat. This is because fiat does not vanish, it retains its value, just that the purchasing power must have been tarnished by inflation. But in the case of some altcoins, they vanish into the tin air while a thousand new ones are created.

Bitcoin is a saviour, but the worse part of it is that many people are yet to realise. Bitcoin will save you from inflation and also promises to return investment for you.

You are right that fiat will always decrease in value and inflation will increasingly make us buy more expensive goods in the future while our income does not increase by the same percentage as inflation.
Saving Bitcoin can be an option to fight inflation but what we have to remember is that it will only help if we save it for the long term and as long as we don't get any benefits from owning Bitcoin then we have to look for ways to get additional income so we won't sell Bitcoin with a small profit because urgent needs, because it is always an obstacle for those who have limited income and really want to get benefits from investing in Bitcoin.

How come? Isn't that how it works? If you have $2,000 and want to get $1,000 on top of that, you will need a 50% gain on your investment. If you buy Bitcoin when it's priced at $20k, you will need it to hit $30k to achieve your desired target. On the other hand, if Bitcoin is priced at $40k when you enter, it will have to reach $60k for you to have a 50% gain on your investment, and there is a big difference there. In the first instance, you would need it to go up just $10k, but in the second instance, it would need to gain $20k for you to reach your target.

So, the entry point does make a difference and one can either achieve their target early or late based on when they have entered the market because the price gained by the cryptocurrency after that will determine how early or late your profit target will be hit. This is the reason why it's always said that getting in early can be more profitable for an investor.

Am sure that we will soon get to that stage where everyone will be having bitcoin just as the way the fiat currency is so common and available for everyone to have access with, making payments in bitcoin will be so easy and common, people would have been so used to it, life will be easier on men because they are having a volatile currency that they can spend and earn from as well, cryptocurrency will by then be the most recognized currency with dorminance in bitcoin.

I hope so but until that day comes we need to keep accumulating all the bitcoin that we can, I am not going to deny that the current growth we are experimenting took me by surprise, but at the same time I receive it with open arms as bitcoin has grown almost 200% since we reached the bottom during the first months of this year, so the progress bitcoin has demonstrated has been incredible, and now it seems more likely that a new all time high could be reached before the halving even takes place.

I couldn’t agree more. Bitcoin is a volatile asset but it’s a good way to hedge against inflation. Those living in developed nations may not feel the need for bitcoin savings because of the strength of their currency. But for my people, the rate at which the naira is falling is alarming, now you can buy a home appliance for less than $30 and in a few month the worth of that appliance is $60 or $70. People no sell second-hand goods at a higher price than what they originally paid for it. Liabilities are casually turning into assets.

Fiat depreciates, the 1 milion dollars that you saved from years ago, if you haven't invested it into anything like stocks or bonds, would be significantly more devalued than if it were to be invested into gold or any other asset instead. Which is why you feel like it has "made your life expensive" or something. When you invest your money, you don't necessarily make more money that way, you're only saving, or in some cases, hoping that the value of your money increases over time, which is what bitcoin specifically does.

Which is why I'm very deliberate when it comes to telling my peers and relatives about where to invest when they start asking me about it. We all have our own cups of tea and sometimes, no matter how great bitcoin is for us, it may not work for others. I just say look into what makes you more comfortable, and stick to that investment plan.

We agree: holding cash is like watching ice melt in the sun. Let's examine the comfort zone investing method. Is comfort good for pajamas but not growth? Bitcoin is a volatile newcomer with a jetpack in the roller coaster world of finance. Why slog through standard investments when you can soar? Life has hazards, but what doesn't Bitcoin represents financial revolution and inflation protection. A truly global money without government manipulation. Like a clever golden ticket! If you say "look into what makes you more comfortable," respond, "Sure, but don't forget to peek outside that comfort zone." Bitcoin may surprise you and them. Why not invest in the digital future?

I suggest it is better to store gold than money or crypto. The reason is simple, the value of gold does not change, even if it is sold in the future, despite any conditions, the price will increase and again there is nothing that undermines the value of gold from negative issues. This is what crypto does not have. So I will not keep crypto but make short-term passive income only.

That's right, why saving or saving Bitcoin makes our lives cheaper in the future because the value or price of Bitcoin goes up every year, which is different from fiat, the value of fiat every year definitely goes down, that's why the price of necessities this year and the next 10 years is very different because there are inflation and fiat value decrease every year

The history about bitcoin is very amazing. From the birthing year 2009 to till today graph board is amazingly increasing. After 10 years where will it reach nobody say. Anyone who analyzes the graph will feel free to invest

The price of an article may go up but the acceptance of bitcoin to transact with has still remained a rock bottom, growing very slowly. You can be super-rich with bitcoins but no shop in your local accepts bitcoin, how will you go about spending it then?

So you need both fiat and crypto and an added advantage would be seamless conversion between the two which is a longshot dream of many members of the forum.

Keeping the hope that in future bitcoin will become huge and then you will start spending it, is a good one too. I would rather suggest spending on buying gift cards at times before that actually happens.

I completely agree with the importance of strategic savings and diversification. While inflation can erode the value of fiat currency over time, it's crucial to maintain a safety net of 3-6 months' worth of expenses in readily available liquid assets to avoid selling off investments at potentially unfavorable prices. Once this emergency fund is established, exploring investment opportunities in diverse asset classes like land, real estate, or cryptocurrencies becomes more viable. However, remember that all investments carry some degree of risk, and thorough research and understanding of each asset class are essential before committing your capital.

Don't think that it's ever going to happen in our lifetime though and as long as there are uncontacted tribes and ethnic groups that are far from the modern civilization, it's never going to happen. Sure it's a good dream but think about it, a lot of people are already resisting the idea of bitcoin and a lot of them hasn't changed their stance even when we reached a new ATH, my guess is that we're either going to force this adoption or we let it seep through the cracks of our civilization and slowly taking root so we can never get it out of us. I don't believe that it's going to be the most dominant currency though, we've got US to fight with that one and I don't think that they're ever going to want the 1st place be taken away from them, let's just be happy with where we are right now, we will eventually go there so I don't think we need to be too hasty in this kind of thing.

Interesting mate,every educated person needs to know and be informed about bitcoin because bitcoin is the real deal right now.Bitcoin is the mother of all cry pro currencies,it is not just a currency but a revolutionary and phenomenal money that functions without second thought or without interference;a currency without a government.
  Bitcoin has been able to grow rapidly and gain more trust because it has solved problems that fait are unable to manage for us.There's a saying that the more problems you solve,the more money you get and so,that what bitcoin is.Bitcoin is an adventure,and its worth what people are willing to pay for.Even with the clash/crash,economical downturn and governmental intrusion.
   Bitcoin is a game of risk and reward.You have your part to play so as bitcoin does.Bitcoin is turning the world most accepted digital currency,and people will have no choice but to embrace.

Bitcoin needs the internet and electricity to be used, so governments can shut these down in a dire or war like situation if they wish to and then you would not be able to use bitcoin. However the chances of such things happening is small.

Nah, they always have a choice. It is not that bitcoin is the final currency ever, fiat will always co-exist with bitcoin and even though fellow forum members might not like it, bitcoin is the less known and less accepted currency as compared to any fiat currency.

Of course in our forum here, we think we are god like after owning bitcoin, it is not so in the outside world. You need both fiat and crypto.