People who hold money will be poor soon

[NewRanger]

Money can only be relied on to buy so many things we want so it is only natural that its value does not increase and even tends to decrease because the money supply is very different from the availability of other valuable assets at this time. So it is very appropriate for everyone to hold assets that already have value by releasing money into them, because holding assets that already have value such as in the example of Bitcoin can also bring in more money when the price increases. Although when there is a price drop everyone must be patient in waiting for the price to increase again.

The current economic conditions are still unstable and making one of the strategic and measured decisions must be instilled early on, especially if something bad happens and is beyond our expectations at any time. I think people are now smart enough and know where their money should be placed. Of course, having and making some plans in managing the estimated value of our money so that it does not decrease and continues to increase must exist and one of them is as you said above.

[RockBell]

The US dollars is just more popular that's why it's included in all major exchanges, if not all. The other fiats, probably they don't have the go ahead from the authorities to be listed. There are other reasons to why exchanges don't list them. Exchanges are after the money and where the money is flowing to, that's where they go to secure their transaction fees. Fiats is never a tool to safeguard your wealth, you can't stay rich by hodling money because of the depreciation rate of money over time. You stay rich by investing, saving without the intention of investing the money into a good opportunity is a waste of time. As you save and spend, you're moving in a cycle that will soon be unattainable because immediately the inflow of the cashflow stops, you go broke instantly.

When they it comes to the US dollar it's among one of the most strongest currencies in the world and most currencies are very dependent on the US dollar than there own currencies and things like this will even devalue your currency but most governments don't even show concern because they feel them using dollar is helping there economy and because of how powerful the dollar is exchanges can not do without it, and almost every pairing is with the usdt.

And holding money does not even mean someone is wealthy because if you look at it when they are counting rich people and they want to measure there wealth they always use there assets rate them they won't use the money they have in there bank account does not count they only have bussiness with your assets and with how inflation has been hitting hard it will make your fiat in relevance.

And instead of having the mind set to save it will be better to invest it some were and wait for return than just allowing the money dormant.

[Su-asa]

This morden age one don't need holding a fist currency, we can save them as emergency funds and also invest in crypto currency if we want to become wealthy and successful in the future. Fiat currency lose value everyday and holding it will neither do one any good. Imo shitcoins and fiat are like one. Suggesting to invest in Bitcoin for the long term so can make a good profit within 2 circles of Bitcoin.

[GeorgeJohn]

Governments have make people not to know what money is. Before fiat were money. And after fiat, money will still be existing as long as people are existing.

You are not referring to money but fiat that is created by government which is a scam unless you know what it is.

Bitcoin, gold and other valuable assets that their value increase over a long period of time are also money but they are worth holding because they are hedge against the government inflation and they are store of value.

Money is a liquidify commodity that is very difficult to recover if one's lost it,so as it is not advisable to "hold money" most especially in this our present economic.Great minds invest money rather than holding it,the process of holding money for a longer time bring down your financial power in the society because you are not making huge interest or profit by savings but if you invest in a right channel,there is no way that you will not step up your game financially.

[STT]

There are some strange effects where inflation has a deflationary effect when it denies the free flow of capital fairly throughout an economy so at the extremes I think this is correct.  The only reason this situation has been ongoing so long without proper adjustment or just plain collapse is because of demand for dollars across the world, there is no proper competitive alternative seemingly.   It must be a feedback effect that reinforces this status quo and nobody dares create an alternative to the dollar no matter the inflation  it contains when you link to that standard.

[Dreadboost]

Your topic is very wrong. People who hold money may not hold it in their bank account. Most of them are business oriented persons. So the money they have at hand is used to do daily business some also give out loans to people with the money they hold. The truth is, its not all about holding money at hand or at the bank but what matters the most is what they do with the money they hold if they keep on multiplying it to get more.

This morden age one don't need holding a fist currency, we can save them as emergency funds and also invest in crypto currency if we want to become wealthy and successful in the future. Fiat currency lose value everyday and holding it will neither do one any good. Imo shitcoins and fiat are like one. Suggesting to invest in Bitcoin for the long term so can make a good profit within 2 circles of Bitcoin.

There are other forms of investment if we choose to invest our fiat. Aside cryptocurrency there is real estate, human management, and so many others. I noticed people choose cryptocurrency as a preferred choice of investment while eliminating other opportunities that may come for them in life.

[Lamkuthang]

There are other forms of investment if we choose to invest our fiat. Aside cryptocurrency there is real estate, human management, and so many others. I noticed people choose cryptocurrency as a preferred choice of investment while eliminating other opportunities that may come for them in life.

All depends on taste if choose invest in cryptocurrency, if our taste is strong and we care about our money so that it is not wasted, yes BTC and those that have been verified, but if his taste is ordinary, he will come and bet to find profit in shitcoin and meme coins and hope that later whether 10x or 100x he can profit as he often sees on telegram and tiktok channels. even though if we investigate further, those who posted have already bought from the beginning and we are used as a dumping ground for the tokens they print.

[edy_58]

This morden age one don't need holding a fist currency, we can save them as emergency funds and also invest in crypto currency if we want to become wealthy and successful in the future. Fiat currency lose value everyday and holding it will neither do one any good. Imo shitcoins and fiat are like one. Suggesting to invest in Bitcoin for the long term so can make a good profit within 2 circles of Bitcoin.

I agree with you for now it would be better for us to hold money for our daily needs that we need and also emergency needs that we cannot know the needs for and the rest we can invest the funds we have either in crypto or other investments and for now I think we will all choose to invest in crypto and choose Bitcoin assets to invest the funds we have of course a good choice but we must be patient in the long term to generate profits from it but there are also some people who can generate profits in the short term and of course this will depend on a person's wishes when deciding to invest.

[bakasabo]

OP should be more detailed or give explanation what he means by "holding money". Holding cash money at home in a box is one thing, and having money in a bank account that are used as term deposit is something different. Long time ago during studying in university, I was often told golden rules - "money must work", as inflation will eat simple savings. But, I dont believe that inflation will make a person poor soon. What does soon really means? In a year or during next 5 years? Hyperinflation is a real threat, but this term can be applied to a very little number of countries.

[eightdots]

OP should be more detailed or give explanation what he means by "holding money". Holding cash money at home in a box is one thing, and having money in a bank account that are used as term deposit is something different. Long time ago during studying in university, I was often told golden rules - "money must work", as inflation will eat simple savings. But, I dont believe that inflation will make a person poor soon. What does soon really means? In a year or during next 5 years? Hyperinflation is a real threat, but this term can be applied to a very little number of countries.

In addition to what you said about giving details; In order to give clearer answers to some things, times should also be specified. It may be useful or give an idea by looking at how long it took to solve similar problems in the past. Using clearer expressions when discussing economic situations may be more useful in terms of solutions or comments.

In a place where inflation is increasing, necessary actions should be taken to protect the value of money. Inflation causes the value of money to be lost and means that the purchasing power of the income you earn decreases. It is necessary to understand the meaning of the sentence "money must work" because as you said, the value of simple savings decreases due to inflation.

Most people living in a country with inflation learn over time how to protect their economy against inflation. Hyperinflation is a situation that can strain economies very much and is difficult to take precautions against.

[iv4n]

People who hold money will not be poor soon. We all keep some money nearby... in a wallet or a bank account. Money won't lose value overnight, but inflation definitely increases over time and money is worth less and less.

Money loses value over time... that's something that many people don't understand. There are many assets that rise in value over time, some are more affordable like Bitcoin or gold, people can enter even with $100 more or less... and then there are real estate and more serious things where the entry is much more expensive. In any case, it's smart to find an asset that is affordable and accessible and save money by investing in that.

[Orpichukwu]

People who save money in regular fiat savings accounts are dumb, saving is for poor people. Smart people invest their money, they certainly don’t save fiat in regular bank accounts. Real estate, Bitcoin, sticks are the assets to look into investing in. Inflation destroys savings, you should invest not save.

The rich people allow their money to work for them because they invest smartly; that's why they get richer with the type of mindset they have developed, while the poor are afraid of taking the risk of investing, leaving their money in a regular bank account while the bank takes the money and uses it for other businesses and gets themselves richer and still charges them for saving their money in their bank. The poor man's mentality keeps them stable at a place.

[alastantiger]

Money can only be relied on to buy so many things we want so it is only natural that its value does not increase and even tends to decrease because the money supply is very different from the availability of other valuable assets at this time. So it is very appropriate for everyone to hold assets that already have value by releasing money into them, because holding assets that already have value such as in the example of Bitcoin can also bring in more money when the price increases. Although when there is a price drop everyone must be patient in waiting for the price to increase again.

Holding money is wrong, don't hold money but invest and you'll never be broke again. When you don't invest, that's when you'll be broke as the money's that you think is big or plenty can always be exhausted when you continue to spend in an unhealthy way. But when you have invested that money, it'll create more money and help you stay wealthy regardless of how long you stay alive. Investing is the best decisions to take when you begin to see alot of money, some people do not invest in their time but they're thinking they'll keep getting the money without any work being done and they'll continue to be wealthy. Don't hold money but hold assets that you get firm investing the money. Alot can be said about how bad holding money is but I'll only tell you one bad thing about money and that's, it losses value as you hold it.

[STT]

Even poorer if you dont keep enough money to pay the bills, nothing more expensive then money you dont have.   Most people complain about credit poverty which is the difference between those allowed money enough to invest in themselves and those who cannot do as much.   Many assets are illiquid, a house can take ten years to recover its prior pricing in a depressed market which can occur at any time for economic reason local and nationally, I dont see theres any easy solution but everyone has to hold some money.

[Nothingtodo]

People deposit money in banks for their needs so that they can use it in the future. It's not that people will become poor just by holding money. People often save money with which they can later establish a large business. That is, people collect capital mainly for starting a business.

[Bd officer]

Now, keeping money in the bank will not make you poor, but the value of money will definitely decrease. At present the condition of the banking sector in our country is very bad, so it will not be good to keep it in the bank. So it will be wise to invest our money in any sector. Now those who are willing to take the risk, can invest in Bitcoin which will make them very profitable in the long run. Now if I had enough money I would invest in land, it is a risk free investment.

[CageMabok]

The current economic conditions are still unstable and making one of the strategic and measured decisions must be instilled early on, especially if something bad happens and is beyond our expectations at any time. I think people are now smart enough and know where their money should be placed. Of course, having and making some plans in managing the estimated value of our money so that it does not decrease and continues to increase must exist and one of them is as you said above.

If we refer to living conditions which generally always require costs to live, of course everyone must be smart in putting their money in long-term investment assets by not emptying their pockets of cash which is indeed for daily use. This means that everyone only needs to save the money they need for daily needs and the rest is good to be directed into investments which can also generate more money in the future. So you don't need to worry about this kind of thing because we can all learn from people who have been successful through various things and various investments that they have done in the past until now.

Holding money is wrong, don't hold money but invest and you'll never be broke again. When you don't invest, that's when you'll be broke as the money's that you think is big or plenty can always be exhausted when you continue to spend in an unhealthy way. But when you have invested that money, it'll create more money and help you stay wealthy regardless of how long you stay alive. Investing is the best decisions to take when you begin to see alot of money, some people do not invest in their time but they're thinking they'll keep getting the money without any work being done and they'll continue to be wealthy. Don't hold money but hold assets that you get firm investing the money. Alot can be said about how bad holding money is but I'll only tell you one bad thing about money and that's, it losses value as you hold it.

Thank you for reminding me about this even though I have long realized this in my life so that I do not hold more cash except for daily needs in life and the rest I have indeed placed in investments that have been proven safe and also proven to be able to give me more money in the future such as Bitcoin and also some others such as gold and land that are located very close to the city.

[Bazzu]

Now, keeping money in the bank will not make you poor, but the value of money will definitely decrease. At present the condition of the banking sector in our country is very bad, so it will not be good to keep it in the bank. So it will be wise to invest our money in any sector. Now those who are willing to take the risk, can invest in Bitcoin which will make them very profitable in the long run. Now if I had enough money I would invest in land, it is a risk free investment.

Yes keep thinking smart is the best way to do it by not saving money for too long in large amounts, by investing in the long term it is a solution that must be applied, investing in land is an interesting thing because we know that every year the price of land will always increase and it will continue and provide opportunities to get the expected profit.

[Accardo]

Now, keeping money in the bank will not make you poor, but the value of money will definitely decrease. At present the condition of the banking sector in our country is very bad, so it will not be good to keep it in the bank. So it will be wise to invest our money in any sector. Now those who are willing to take the risk, can invest in Bitcoin which will make them very profitable in the long run. Now if I had enough money I would invest in land, it is a risk free investment.

Landed properties are great investment similar to Bitcoin because of the appreciation in value. Although it takes up decades to harness such values.The only trouble with such things is age and trust, one could leave this big blue marble someday and their kids wouldn't be able to know all the lands the parents have acquired. Which now expose them to the mercy of the lawyer who may not show them where all the belongings.

[martinex]

This morden age one don't need holding a fist currency, we can save them as emergency funds and also invest in crypto currency if we want to become wealthy and successful in the future. Fiat currency lose value everyday and holding it will neither do one any good. Imo shitcoins and fiat are like one. Suggesting to invest in Bitcoin for the long term so can make a good profit within 2 circles of Bitcoin.

Both are necessary and we just need to balance fiat is needed for daily transactions and crypto investment must be as a hedge against depreciation, after all if you withdraw crypto you will eventually liquidate fiat for daily shopping.

If there are extra funds and idle is the right suggestion if the word is put into several investment instruments and investing in crypto is one of them to keep the depreciation balanced and continue to grow.