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Huge Black Woman
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January 17, 2017, 04:36:52 AM
 #21

I'm surprised to see so many posts from people saying "i've never heard of this thing before"...then I scroll down and see their signature and I'm no longer surprised.

Here's my advice for you - GREAT IDEA TO SAVE MONEY! I mean, if it takes a gimmick like this, go for it! Since the price of bitcoin can be so volatile I'd try to even out your savings payments a bit, so you're not buying in low during the early weeks (when the gimmick says to only put in $1 or $5 in a week) and high in the later weeks.

If you save $25 a week you'll save roughly the same amount of money and you'll be able to get a more even distribution of your investment in bitcoin across another year which I'm sure will have many ups and downs in price.

As for the payments, you can do the fiat equivalent in bitcoin or up the amount to something that suits your budget.

Good luck to you!
Thissa bit off topic, but I wont y'all ta know thet I read thru this whole thread an' I fully agree witchu.  Ain' nobody read nonna the stuff that's written here.  They jist awritin' fo they signature campaigns.  They so stupit, they prolly sittin' in they basements makin' baloon animals out they left ova party favor box.  Dirty feet an' all.

OK, I'll acheck this thang out.  Don't seem like y'all need a gotdamn computer sience degree ta' know you need ta save money.  Y'all like a buncha special ed 3rd graders up in here.
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January 17, 2017, 04:37:50 AM
 #22

Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?

Even i din't come up with this challenge but for coming to saving both are good for saving, but there is a slight difference in it when you save in fiat always the currency is same but coming to bitcoin it might vary from month to month. Even i am planning to give a try in both currency which will give much profit in long run, but most you will make profit with bitcoin when compared to fiat.


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ScaryMe
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January 17, 2017, 04:55:09 AM
 #23

I never try this challenge tho I want to share my opinion..

So for me, better use the bitcoin on saving because your fiat money is not increasing but in bitcoin once you convert it to what every currency the value changes, just make a right timing on it.

savioroshan
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January 17, 2017, 05:36:00 AM
 #24

I have never heard about this challenge. But about saving bitcoin or fiat currency , in my opinion save your savings 50 percent in bitcoin and 50 percent in fiat currency because nobody knows whats going to happen tomorrow. Saving bitcoin is just like you are doing gambling. ofcourse it has got the potential to go beyond 2000 dollars by the end of this year, but still there are many things you should consider. If any government immediately bans buying and selling of digital currency it will affect its price. Or if any hackers create a program and do some hacking activity, immediately the price of bitcoin will drop leaving people's trust in bitcoin to fade. ofcourse nothing like that will happen but  should be prepared to face any situation , if decided to have savings in bitcoin. So for a safe side have your savings 50 percent in bitcoin and 50 percent in fiat

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January 17, 2017, 05:43:29 AM
 #25

Why not? Bitcoin is worth a try. It can give you much profit when it pumps. This will be your investment. The price is very volatile but its worth the money you have put into it. The price will drop but it can still recover overtime. Bitcoin have strong foundation. Thats why it has ability to recover quickly. Bitcoin is worth a try. Im telling you that.

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January 17, 2017, 05:51:25 AM
 #26

My company offers to buy company stock with money from my salary, for example 100€/month (then it adds about 75€ to that). It's a good way to ride the up and downs. I'm not doing it that way though, so far I put in big checks when I think is the right time. But I'm not always right.

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January 17, 2017, 06:14:01 AM
 #27

I've heard of the challenge and I did it for about a month. I am not really a person who saves that much money so I had to quit after a small amount of time.

I think if you are decent at saving money, then it is probably better to do the challenge with Bitcoin because it will definitely work and you would be saving even more money because of the fluctuating price of Bitcoin.

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January 17, 2017, 06:32:32 AM
 #28

If you earn about the same money every month (or week) then I don't think the challenge makes much sense.

Having a year goal and a plan to get there is good, but starting with a low sum the first week and 52 times more in the last week makes no sense and isn't good financial practice.

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January 17, 2017, 06:54:11 AM
 #29

If you earn about the same money every month (or week) then I don't think the challenge makes much sense.

Having a year goal and a plan to get there is good, but starting with a low sum the first week and 52 times more in the last week makes no sense and isn't good financial practice.
It is a quite good idea , There will be a thrill if you save your money like that. You keep multiplying the daily savings in 1 year.
In the last month of the year you will surely have trouble some in saving on a week. The price is growing larger each month.  Actually Ive done it last year and the saving is finally done.

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January 17, 2017, 06:59:57 AM
 #30

Regards this challenge, I think you would generate more savings if you take on bitcoins in the long run and assuming the growth in price will remain. For example, if you deposit $10 per week as savings that $10 would appreciate in the long run with bitcoins. Unlike if it was fiat, $10 would still be $10 in the long run.

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January 17, 2017, 08:07:00 AM
 #31

I think that's a good idea,saving bitcoin.As you start your earnings even just a small amount if you manage to save it,then as your savings will become double and eventually you earned more than what you expected,we can never tell that when time comes that the exchange of bitcoin will rise over fiat then your absolutely right with your decision of saving it.

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January 17, 2017, 08:50:44 AM
 #32

Now , saving bitcoin was always a best option as the prices keep increase.
But yes now people will tell it decreases as well. Thats true.
But the prices will some day increase and then when you guys feel like the current conversion amount is the best then you can just convert you BTC into USD$.
So yeah . And i dont think most of the people know about the 52 week challenge
I am one of them. Grin

   
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January 17, 2017, 11:58:47 AM
 #33

Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?

Never heard about it. but I myself usually save my money on my own "bank"

well, if you want to save in bitcoin or fiat, I will say it depends on your needs. bitcoin price always changes, so if you want to save in a long period of time, it will be good to save bitcoin.


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Qartersa
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January 17, 2017, 12:10:50 PM
 #34

Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?

Never heard about it. but I myself usually save my money on my own "bank"

well, if you want to save in bitcoin or fiat, I will say it depends on your needs. bitcoin price always changes, so if you want to save in a long period of time, it will be good to save bitcoin.

Yeah, it's good to invest into bitcoin as its prices increase everyday, though it has some big dips it still comes back to where it was or even higher. The only problem I see in investing and saving bitcoins is that if the prices continuously increase and you are relying on fiat to fund your bitcoin savings, then the amount of bitcoins you save will decrease over time.

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January 17, 2017, 12:11:51 PM
 #35

there is never a perfect way to save up money, and bitcoin is money. i have checked so many methods of saving and investing, in the end it will all come down to your preference and you are forced to come up with a method that suits your lifestyle and earning.
just invest what you don't need and you will be fine.

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January 17, 2017, 12:30:23 PM
 #36

Are there any legit services that payout interest on btc savings the way a bank account would?

I used to know of at least one but they shut down awhile ago.

Still it would be nice to compound interest on top of any price gains btc made.

 Smiley

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January 17, 2017, 01:04:29 PM
 #37

Are there any legit services that payout interest on btc savings the way a bank account would?
No there are no any legit service which pay interest but you can take margin lending features some trading platform as opportunity to earn some interest lending your bitcoin passively. But it also have little bit of risk of loss...

Price of bitcoin can fluctuate rapidly so on average you may get less amount in fiat than what you have deposited in total, if you save bitcoin weekly. But there is also chance that you may get more like even 1.5x of what you have deposited in terms of fiat on end. So if you can take risk of getting less than its better to take risk by saving in bitcoin to get more in end.

Bitcoin price have a lot of volatility so better to consider it when making savings if you are only saving for short period.

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January 17, 2017, 01:06:26 PM
 #38

I do about 1 to 1-5BTC savings per month.
In total I have about 9BTC now.
My goal is to reach 30BTC by end of the year.
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January 17, 2017, 01:16:27 PM
 #39

Are there any legit services that payout interest on btc savings the way a bank account would?

I used to know of at least one but they shut down awhile ago.

Still it would be nice to compound interest on top of any price gains btc made.

 Smiley

I think there is no site like it, because throughout my trip as it was always close the site on their way. And makes the losses suffered by users of their gauze. So my advice better keep your own bitcoin in your bitcoin wallet. With it if bitcoin prices rise, the value of your bitcoin will rise as well. Thank you
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January 17, 2017, 01:25:08 PM
 #40

Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?

I have done this challenge but was not able to finish it. In the end months, the value you are saving is too high that my salary cannot keep up with the amount. It is good if you can finish this challenge. You can do it in fiat, and if  you see some dips in the price of bitcoin, you can use your savings to buy some. I think it is a better strategy because bitcoin appreciates in value. If you keep your savings in fiat, it will just depreciate.


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