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Author Topic: Keeping money and keeping bitcoins? are they similar?  (Read 2337 times)
Barikui1
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March 10, 2024, 03:52:32 PM
 #301

The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Actually I really don't think they are that much similar, because savings is like keeping your money in a bank or anywhere safe for a long period of time, which in most times have reduced in value due to inflation, and sometimes it serve as an emergency fund if the needs arises, while Bitcoin on the other hand is like storing of an asset that haves the ability to make you rich in a long period of time, because it increase in value overtime compared to savings that are static, and is mostly devalued by inflation.

Hewlet
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March 11, 2024, 05:57:01 AM
 #302

The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
absolutely yes!
If you're good in keeping money you will obvious do well when it comes to holding your Bitcoin. You know, life is networked in such a way that the know you have at point A is what will help you strive and become better at point B.

In my locality, we do have this small saving box when you would bring out a small opening and whenever you have small money you won't be using or someone gift you money, you just put it in the box amd continue putting money whenever you feel like or you choose that every particular day of the week you're going to be putting money in that savings box and if you're able to do that till the end of the year, you will discover that you've successfully saved up a good amount of money. Some that are impatient will within the year break the box and bring out thoseomey during any small financial constraints and those are obviously bad at their saving habit and even if they decide to Hold Bitcoin, at the slightest financial downtime ever, they will use their investment as though it is a reserved fund.

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Bloodseekers
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March 11, 2024, 06:08:09 AM
 #303

The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Actually I really don't think they are that much similar, because savings is like keeping your money in a bank or anywhere safe for a long period of time, which in most times have reduced in value due to inflation, and sometimes it serve as an emergency fund if the needs arises, while Bitcoin on the other hand is like storing of an asset that haves the ability to make you rich in a long period of time, because it increase in value overtime compared to savings that are static, and is mostly devalued by inflation.
n my opinion, these two things are very different, because if we save money, of course its value will decrease, even though the money we save remains the same, as you mentioned, when inflation occurs, the value of the money will decrease, but this will be very useful when we have emergency needs that we don't need. We never know when we need it, but investing will give us results from what we invest as long as we can fulfill the targets we set and choose to invest in Bitcoin, of course this is very good for our future because there will be profits from what that we have invested and we must carry out our investments well and not make wrong decisions in investing so as not to lose what we have invested.
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