I've not heard anyone advise others to save for about 17 years.
People's grandparents used to do I think.
But mine have all been dead since about that time.
For sure the idea of saving is not a bad one, and so for sure, the criticism of savings relates to the ongoing debasement of cash - and frequently people are still mislead about whether saving is a good thing or not - and yeah a lot of the debasement of the cash does encourage poor people to not save, since the cash is not holding its value.. and so if they do not have any place to put their money in order to hold value they will spend their cash more quickly... and sometimes their consumptive goods will hold value more than the cash would have had done.
There do seem to be quite a few investments that have come available to normies, including bitcoin, yet normies still might not appreciate the value of investing and/or savings because they have been so perverted over the past several years... including the largely disappearance of the interest rate... and yeah, sometimes the interest rate that banks provide does not even keep up with the rate at which the money is debased (or the rate at which prices go up, which also varies from product to product).
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Last time I recall seeing interest rates above 5% was around the turn of the century, so it’s understandable why nobody saves in a savings account anymore. I wouldn’t be mad at savers for taking advantage of 5% interest now, but it probably isn’t going to stay that way for too much longer.
Right now, it is a bit deceptive to earn 5% interest rates, and remember in late 2022 the USGovernment and also philipma and some others were pumping getting into treasuries Ibonds since they were paying 5%.. That ended up not playing out as such a great idea as compared with being in and getting into bitcoin during those times.
Still, in 2008 I would have loved to have been all cash and that was with low rates.
You seem to continue to be distracted by macro dynamics. Even though bitcoin might end up suffering from some short term downity from her, we did not have bitcoin 2008, so anyone getting distracted into thinking that they should be in cash right now, rather than making sure that they have enough bitcoin, might well be in for some surprises.
Yeah, we cannot really know where bitcoin is going from here, especially in the short-term, yet we should have some decently good ideas that it is not good to be in cash in the long term, even though it likely does not hurt to have some cash available for various potential drops in BTC price - yet I doubt that means to sell any BTC at these prices.. (even though guys can do what they like when it comes to their stash management and making sure that they are prepared for up - even if they are scared of potential down).
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10 years is a lot, but on the other hand, it is also a little - it depends from which perspective you look at it. If you invested in BTC when it was worth a few hundred $, then even today you are a relatively rich person (depends on where you live and what you want).
I get your point that 10 years really might not even be that long when it comes to a kind of an investment that brings you multitudes of price appreciation.
I would imagine that most people take a while to establish their BTC position. They do not just lump sum in, even if they are capable of such lump summing.
2015 was scary too.
I would imagine anyone (even a relatively poor person but who had some disposable income) who was somewhat aggressively accumulating in 2015 ended up doing well for themselves if they were able to completely establish their position in 2015 - but I still think that the market sentiment was too uncertain for a lot of normies to be aggressive in establishing their position in 2015.. so even if they started in that time, they likely would have still been accumulating into 2016 and perhaps into 2017.. and maybe a bit beyond that..
Maybe this kind of market seems a bit frustrating, but I think it's better if everything "bad" happens now, even though the presidential elections in the US may have a greater impact on the price of BTC than everything that has been happening in recent months. Unfortunately, too much focus was placed on only one country, only one man and a few powerful companies.
There is something a bit frustrating with some aspects of bitcoin having ties to liquidity, yet still it seems likely that bitcoin is going to fair relatively better than other assets, and its performance is not quite as tied to the results of the election as it seems to be... Yet in various short term periods, there can be good cop bad cop ideas that contribute to some short term dynamics, including helping to shake some weak hands out of their coins.
These kinds of downity pressure periods frequently (if not always) feel scary while we are going through them, even for longer term holders who are in decently great profits.. and yea, maybe the ONLY ones getting excited are the bears, no coiner and low coiners, who might not be buying anyhow. Sure some newbies to bitcoin might be buying and excited to be able to buy cheaper, yet it can still feel uncomfortable regarding how low any dip is going to go or how long it is going to last.. but I still question any single issue theories. .such as presidential elections.. even though so many folks might currently be talking about bitcoin's price performance and/or future possibilities within those kinds of presidential election parameters.
Irrespective of what market conditions we are in, I'll buy bitcoin every month.
If you are a newbie and/or in your relatively early stages of BTC accumulation, I prefer the idea (and practice) of buying weekly rather than monthly. That way you can stay on top of things and try to be more interactive and aggressive rather than passive.. Yet, hey whatever, it is up to you and if you can figure out how to structure your cashflow/expenses in a way that you are able to buy weekly rather than monthly.
If you have already largely established a decent BTC stash and have the rest of your cash management in a good place, maybe you can slow down your BTC accumulation and merely accumulate BTC monthly rather than weekly.. I suppose it depends on where you are at in terms of how much BTC you have already accumulated in light of your various other personal financial and psychological factors (your
9 individual factors).
It is kind of funny how so many bitcoiners worship that dweeb as some kind of a god (and even frequently reinterpret benevolent or well-intentioned or even 5-D chess meanings into his statements), but on the regular he either says a lot of pretty dumb shit or he is so obviously over-the-top when it comes to his narcissism.
Still, after watching Trump's talk at the Bitcoin Conference 2024, even if only a fraction of what he promised would come to pass I think it would be great for Bitcoin, and as a foreigner and holder that means more to me than other issues. Worst case, all of the promises he made are neglected or outvoted, even the fact that he just showed up at the Bitcoin Conference meant something.
I am not against ideas of less hostility towards bitcoin (and/or crypto) to the extent that some lawmakers know the difference.
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Overall, as inflation increases (with the threat of hyperinflation looming) in current fractional reserve banking system, considering the volume of debt and interest involved for many countries, holding Bitcoin might be the only solution for governments to slow down inflation where BTC has the potential to outperform the interest from debt. I don't know exactly how that Bitcoin financial construct would look like in the end, but either way it's the most bullish proposition I can think of at the moment, guaranteed CCMF to the moon! Think "Fort Knox" with Bitcoin.
I am also not really opposed to the idea of various governments trying to shore up their treasuries with bitcoin - even though surely bitcoin is also meant to be for the people to be able to transact directly and to hold their value - or at least have various options of financial self-sovereignty, so there can be various ways that governments might end up employing policies that pump our bags yet may still not be so good for our abilities to transact directly with bitcoin... so we have to be careful if we are allowing governments to take over bitcoin and/or to influence the self-sovereignty aspects of bitcoin.
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