Life is cheaper with Bitcoin and cryptocurrencies in general

[slapper]

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

[KiaKia]

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.

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.

[Silberman]

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.

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.

[redsun114]

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.

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.

[Patrol69]

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.

[naikturun]

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.

[Kakmakr]

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%... 

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.  

[Inwestour]

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%... 

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.

[NewRanger]

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.

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.

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.

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.

[retreat]

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.

[umbara ardian]

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.

[TheUltraElite]

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.

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.

[ivankoh]

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,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

[Silberman]

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.

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.

[LogitechMouse]

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

[armanda90]

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.

[Poker Player]

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.

[Essential10]

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.

[oktana]

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.

[|MINER|]

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.