Bitcoin saving

[paul gatt]

I am a dynamic person, so I do not want a small profit margin for a long time, saving bitcoin is not a wise thing for a variable currency like bitcoin. You can earn a small amount of money in a short period of time if you are a trader, you do not have to wait for such a long period of time for only a small margin of savings. I like to challenge, so I'm a trader, I trade it everyday and make money from it, of course, you can not always win, but you can make a lot of money in a short time, that's for sure. In addition, you can earn a steady income by participating in signature campaigns on this forum, which is a great income.

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[OliynyK]

I am a dynamic person, so I do not want a small profit margin for a long time, saving bitcoin is not a wise thing for a variable currency like bitcoin. You can earn a small amount of money in a short period of time if you are a trader, you do not have to wait for such a long period of time for only a small margin of savings. I like to challenge, so I'm a trader, I trade it everyday and make money from it, of course, you can not always win, but you can make a lot of money in a short time, that's for sure. In addition, you can earn a steady income by participating in signature campaigns on this forum, which is a great income.

Long term investors are those who had the time and money when the price was really low and for people who had the opportunity to enter the bitcoin space when the price was really low,the risk factor is really low and they could have the leverage to do what ever they want with their investment and even with the current price the speculation is that the price would triple from the current value and it is a possibility.

[NootropicPlace]

I've implemented a Bitcoin system with the help of block.io on my marketplace for Nootropics, NootropicPlace.com.

Was able to set it up, relatively easily, so that everyone who registers is generated their own store Bitcoin address. Funds can be sent to this Bitcoin address to fund their wallet. Also, orders can be placed, and withdraws made from their wallet and its all done automatically!

After seeing how wonderful a system Bitcoin is, I am a true believer. What an amazing technology!

[shannen87]

Back in 2012 when the price of BTC was ridiculously low, I was hoping to have the money to buy as much as possible because I was 'predicting' the future possibilities. So, I had a single BTC on my wallet. Last December I got a small inheritance of about 20K and I spend ALL of it on BTC on the price of $900-1000. After selling all my fortune at $1200, now I hope for $800 future price to re-enter the game. After that I won't sell ever again and stay a HODLER!

[Kimi80]

You can save with any currency, and implement any saving system with bitcoins. Only thing you need to worry is income, do you make enough to save with some system. Sometimes is good to save I guess, if you don`t have big needs, or you can control them then why not, put bitcoins on a side and watch the value grows.

[lite]

Back in 2012 when the price of BTC was ridiculously low, I was hoping to have the money to buy as much as possible because I was 'predicting' the future possibilities. So, I had a single BTC on my wallet. Last December I got a small inheritance of about 20K and I spend ALL of it on BTC on the price of $900-1000. After selling all my fortune at $1200, now I hope for $800 future price to re-enter the game. After that I won't sell ever again and stay a HODLER!

What if the price doesn't drops to $800? what will you do?
 i have been holding/saving/buying from 2013, i don't have huge stash and probably won't because price increased to higher levels lol. if price could drop below $800 i could also accumulate few more coins before it moons.

[Winner]

You can save with any currency, and implement any saving system with bitcoins. Only thing you need to worry is income, do you make enough to save with some system. Sometimes is good to save I guess, if you don`t have big needs, or you can control them then why not, put bitcoins on a side and watch the value grows.

The amount that someone could make if they learn to hold onto a Currency or Bitcoin is pretty cool. The number of coins and fiat goes up over time even if it seems like only a few dollars are put into their savings each day/week.
There's plenty of stories where guys quit drinking coffee each day and after a month they realized that they have collected a whole bunch of money and used it for a mortgage payment or to pay bills.

[richardsNY]

Back in 2012 when the price of BTC was ridiculously low, I was hoping to have the money to buy as much as possible because I was 'predicting' the future possibilities. So, I had a single BTC on my wallet. Last December I got a small inheritance of about 20K and I spend ALL of it on BTC on the price of $900-1000. After selling all my fortune at $1200, now I hope for $800 future price to re-enter the game. After that I won't sell ever again and stay a HODLER!

What if the price doesn't drops to $800? what will you do?
 i have been holding/saving/buying from 2013, i don't have huge stash and probably won't because price increased to higher levels lol. if price could drop below $800 i could also accumulate few more coins before it moons.

The only thing that is able to bring the price down that much, is when the panic around the potential hard fork becomes more intense. If the hard fork really takes place, then you'll get to see the price fall far below the $800 level. But that's nothing more than empty speculation. If people are really planning to make a long term investment, they don't have to wait for the price to drop. Right now is also a good opportunity.

[Rinder]

Buying bitcoin lower 1000 dollars is already the best solution to start saving over bitcoin, but yes the split is letting bitcoin a bit unstable, but well the potencial keeps with bitcoin, with that said if you have some funds at the bank give a try at bitcoin, you will be able to see a huge diference from your banks savings as well bitcoin savings.

[basketcoin]

reading the comments it does sound like an intresting one, i might take a crack at it this year

[jovs]

I don't think the biggest issue is the currency you hold it in. Both fiat and BTC are (in my opinion) equally good options for saving but I personally don't see saving as the best option. I'd rather consider investing. Of course bitcoin can be considered as one even if you save them so that's probably a good option.

If you're simply looking for something that holds value, gold could be a considerable option aswell.

Yes but there is an advantage when you used to save on bitcoin. We all know that its price and value increases faster than fiat And we can convert bitcoin in easy way through a wallet with converter where you can manage how you will going to convert your bitcoin. And in my opinion bitcoin future is yet to develop so when someone chooses bitcoin on there saving there is a high probability that it will grow.

[iram3130]

reading the comments it does sound like an intresting one, i might take a crack at it this year

Take the challenge, save in Bitcoins, but never hesitate to sell when you see a pump in the rates. Because eventually the price will again drop and buy Bitcoins for the amount for which you have sold.
I have done this personally and it's like my savings are making it's own savings..   

[Wowcoin]

I think bitcoin saving is a good one than too save money in a bank because bitcoin can be double your money once you hold it in long term. And bitcoin are so nice one for long investing or in short investment, i have money in bank its almost 1 year now the interest i get very small amount. Here in bitcoin in a week my profits now is 20% in my bitcoin.

[HabBear]

For me, I will want to save in a more stable currency.

"Stable" is a very relative term...and offers of false sense of security when discussed within the context of fiat currency. Fiat currencies have inflation. So the stable currency you keep your wealth in isn't just holding value, it's losing value every single day. However with bitcoin, while a lot more volatile, there's a confidence to be gained in knowing that no government is behind the scenes and that inflation is a very scarce thing.

Btw, the 52 week challenge is a gimmick for people that can't save. If you care about your future, stop bitching and just save a fair portion of what you earn. Yourself in 20 years will thank you.

[AjithBtc]

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?

Seeing today's bitcoin trend,it would be better to save in bitcoins instead of fiat as we can see a bullish market continuosly and big upcoming projects accepting bitcoins.It would make bitcoin price to increase more.

Yeah these days bitcoin saving is good for a better future rather than saving it in the form of fiat. More and more of​the projects are getting into existence based on the blockchain technology, so without doubt the savings​ of today will be benefited.

[Sadlife]

Yup ive tried saving some of my bitcoins for 12 months which is equivalent to 1 year although my BTC is not that big but the results are good.
In that 12 months my btc started growing little by little and when it reached $1100 ive converted it to my fiat currency

[danherbias07]

Yup ive tried saving some of my bitcoins for 12 months which is equivalent to 1 year although my BTC is not that big but the results are good.
In that 12 months my btc started growing little by little and when it reached $1100 ive converted it to my fiat currency

Interesting. You've got patience.
I didn't do that but I have no regrets. It is like saving bitcoin is not in my vocabulary before. Trust is an issue those days. I always panic whenever I see it go down.
But now is different, I want to preserve it seeing there is a lot of room for bitcoin to rise again.

[mastermold]

I think you should try out 52 week money challenge with fiat. This way you can ensure that you are saving some definite amount. Bitcoin is volatile and will not serve this purpose. And I would say the 52week money challenge is very effective ONLY if you have cultivated a mentality for saving money to begin with. I started saving by putting away 10% of every paycheck from my first job.

To do this I convinced myself that the money I was saved was being paid to a corporation (myself Inc I like to say). This is the same way someone would  pay their rent/cellphone bills. This simple trick helps you understand that paying yourself first is important, easy to do, and eliminates the need for you to dip into your savings because have I'm sure no one has ever heard of a corporation giving you back your bill money?!

I used the 52 week challenge to take my saving to the next level by saving the amount 6 times over every week. So you start out by saving 6 dollars the first week and about 312 the last. If you do the math you will see that it comes out to a lot of money at the end of the year. Also, it forces you to think of how to can tweak your budget to allow for paying yourself more. Once you do this you can recognize the things in your life which you don't necessarily need but impulsively spend money on.

I hope all that made sense

[cryp24x]

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 believe saving with bitcoin will work in that 52 week challenge.  Forget about saving fiat currency since it is destined to depreciate.  With Bitcoin there is an option for you to appreciate or even double in figure if it performs well in the market.  Even with this blocksize debate, peopel will get used to it and eventually focus on the good thing of Bitcoin.

[bep42]

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 believe saving with bitcoin will work in that 52 week challenge.  Forget about saving fiat currency since it is destined to depreciate.  With Bitcoin there is an option for you to appreciate or even double in figure if it performs well in the market.  Even with this blocksize debate, peopel will get used to it and eventually focus on the good thing of Bitcoin.

Yeah and bitcoin saving is always good as the value of bitcoin keeps in increasing over a period of time so if we save good amount of bitcoins then in future it can give us best results as everyone is hoping to see much higher price of bitcoins in future.