Savings are falling, so I'm wondering if I should invest in Bitcoin?

[Swordsoffreedom]

It's fine if you plan to invest in Bitcoin for the long term. I don't think we need to complicate things by waiting for a deep price correction.
The savings we're referring to should be clear. In life, we do need savings, and they should only be a small amount. For emergency funds and a small amount for life, I don't think they're that important, so it's better to invest for the future.

I believe you are quite lucky and have never faced any major crisis in your life. Because those who have experienced shock, terrible crisis because of unexpected things in life or have witnessed it. They will never underestimate those funds, they will understand the true importance of savings and an emergency fund. They will even prioritize it over future investments.

Think about it, how will you hold your investment? If you have a serious problem and need a large amount of money, while your emergency fund and savings are very small because you think it is not important.

[God Of Thunder]

There are taxes everywhere. Inflation is another form of taxation, and people don't understand it. They save their money in banks, but the money loses value by sitting in the banks. It is known that most fiat savings would be eroded by inflation. I won't give you any financial suggestions. But you will have to look for better alternatives than the fiat savings on the banks. You could invest in Bitcoin if you want, you could invest on Gold, silver or other metals that unlikely to lose value in the near future. Most fiat currencies are losing value at this moment. So if you were thinking to invest in Bitcoin, do some research and go for it.

[atookz]

You already understand that saving alone isn't enough without a strategy to maintain or increase your wealth. Regarding investment options, it's true that land has a relatively stable value and typically appreciates over the long term, but its liquidity is low, requiring significant capital. Meanwhile, Bitcoin is a highly dynamic asset with the potential to offer substantial returns, but it is subject to high volatility. It's important to understand that Bitcoin isn't a quick way to get rich, but rather a long-term investment that requires patience and diligence.

When investing, the key to managing assets is portfolio diversification. Don't put all your funds in a single investment, it's better to spread them across other instruments. Furthermore, because Bitcoin is highly volatile, patience is key and you should remain focused on long-term investments. By being patient not getting carried away by emotions, embracing fluctuations, and maintaining discipline, you will indirectly develop mental strength for long-term Bitcoin investment.

[Mame89]

There are taxes everywhere. Inflation is another form of taxation, and people don't understand it. They save their money in banks, but the money loses value by sitting in the banks. It is known that most fiat savings would be eroded by inflation. I won't give you any financial suggestions. But you will have to look for better alternatives than the fiat savings on the banks. You could invest in Bitcoin if you want, you could invest on Gold, silver or other metals that unlikely to lose value in the near future. Most fiat currencies are losing value at this moment. So if you were thinking to invest in Bitcoin, do some research and go for it.

This is good advice. Essentially you shouldn't keep your money in the bank because it will be eroded by inflation. Having this mindset is actually good, but you just need to look for other alternatives you can master, whether it's gold, silver, or bitcoin. The important thing is that you master them well.

When the OP asked in this forum of course other friends answered to invest in bitcoin. However if you haven't mastered it well, other alternatives are highly recommended. My point is, OP as a beginner shouldn't rush into other people's advice. You should think carefully and study thoroughly before investing in bitcoin because bitcoin carries high risks, not only because of price fluctuations, but also because there is the potential for loss if you don't store it properly.

[slapper]

what are you hedging against? Land insurance against currency failure and physical independence. Bitcoin protects against institutional capture and provides you with an exit liquidity. Varied threats, varied tools. The risk-taking in your life should be roughly the same as your life structure. Three years of savings as a salaried worker? Your fuck-you money, your medical emergency fund, your the company restructures and you need six months buffer. Bitcoin has the potential to maintain value over the long-term, and it can also fall 30% the month you need it. Would you be able to survive that psychologically and practically?

When you have invested a sum in which a 70% drawdown causes you to check the price every hour, you have already failed. Those who made it were not more powerful-minded. They had better math. Begin small so that volatility becomes dull

[Mahanton]

There are taxes everywhere. Inflation is another form of taxation, and people don't understand it. They save their money in banks, but the money loses value by sitting in the banks. It is known that most fiat savings would be eroded by inflation. I won't give you any financial suggestions. But you will have to look for better alternatives than the fiat savings on the banks. You could invest in Bitcoin if you want, you could invest on Gold, silver or other metals that unlikely to lose value in the near future. Most fiat currencies are losing value at this moment. So if you were thinking to invest in Bitcoin, do some research and go for it.

This is good advice. Essentially you shouldn't keep your money in the bank because it will be eroded by inflation. Having this mindset is actually good, but you just need to look for other alternatives you can master, whether it's gold, silver, or bitcoin. The important thing is that you master them well.

When the OP asked in this forum of course other friends answered to invest in bitcoin. However if you haven't mastered it well, other alternatives are highly recommended. My point is, OP as a beginner shouldn't rush into other people's advice. You should think carefully and study thoroughly before investing in bitcoin because bitcoin carries high risks, not only because of price fluctuations, but also because there is the potential for loss if you don't store it properly.

Taxes appear in many shapes and inflation is one that hides in plain sight when prices rise and the value of money falls the cost is quietly taken from everyone’s savings people keep their funds in banks believing it is safe but safety does not mean growth the longer the money sits the more value it loses and what looks stable today can buy less tomorrow that is how inflation slowly taxes without permission. To escape that silent loss people search for alternatives gold silver and bitcoin often come up because they hold value differently they are scarce or limited in supply and that makes them resistant to the printing of more fiat money but these options also demand understanding before trust gold and silver move slowly and carry their own storage issues bitcoin on the other hand is fast digital and independent but it also swings wildly and demands knowledge of wallets and private keys.

For anyone new to investing rushing in because others say so can become dangerous the excitement of opportunity easily hides the risks learning first is what protects capital mastering what you choose whether it is metal or crypto gives you control and confidence without that knowledge every decision becomes gambling not investing.

[doomloop]

You know, you're good at assessing things that happen to you, particularly with the money you set aside, and you are also very observant of what's happening in your life, OP. That's proof that you have a vision that other people don't see. And it's also true that even if you can accumulate large savings, its value will really decrease because inflation will eat it up gradually over time.

And since the long-term is what you have in mind, OP, it's good to use your savings for Bitcoin if it's for the long-term. You shouldn't use your savings if your reason is only for the short-term; that's not recommendable. Although land or real estate is also a good investment, you can also divide your savings into two: first for Bitcoin and then for real estate,
but of course, it is still your choice that will ultimately be followed.

Yeah, that vision and understanding of finances is the most crucial step getting into investment. When you realize that your money doesn't buy the same things and you want to do better then that is the way to move forward. Many people miss that and they are not careful about it, I personally suggest staying away from this as much as possible so you can do a fine job.

I do not get that it would be a bad thing to do, because when you take that first step, which for me was buying bitcoins, then you are going to realize how much value it would bring. I think that is the most obvious way of moving forward. It is not going to be easy at all, but it could be something that would mean a lot more than what we are facing right now, shouldn't be worried about it at all.

[Alone055]

There are taxes everywhere. Inflation is another form of taxation, and people don't understand it. They save their money in banks, but the money loses value by sitting in the banks. It is known that most fiat savings would be eroded by inflation. I won't give you any financial suggestions. But you will have to look for better alternatives than the fiat savings on the banks. You could invest in Bitcoin if you want, you could invest on Gold, silver or other metals that unlikely to lose value in the near future. Most fiat currencies are losing value at this moment. So if you were thinking to invest in Bitcoin, do some research and go for it.

You're right, most people don't understand that when the prices of goods and services increase, it's because the government wants more taxes on those goods, both on their import and on their sales in the country. If you ask a vendor, or even a company, why they keep increasing the value of the products they produce? They will simply say that it's because the material and stuff they import to produce the products are now more expensive because of taxes, and they will surely not keep selling at the same rate, because that will make them lose money, so they increase the price and leave the people to suffer.

When we talk about fiat currencies, those who have the right keep printing more money thinking that their government is going to have more money this way, but they don't think about how the value of the currency will keep falling if they keep doing that, because if a currency has a very high supply, it's most likely going to have a lower value because the value of a currency or asset is inversely proportional to its supply.

[Emitdama]

Investing into bitcoin right now isn't a bad idea, and worst case worse, keep saving and do DCA for your bitcoin and you should be doing fine. Many people end up with nearly nothing and we can definitely do a lot better return. This doesn't mean that we are going to see this be a big issue, of course it will take some time for many people to make mistakes when living life, because we overspend and get in trouble financially, so when that happens it's good to have bitcoin on the side as well.

It's a great way of making money and will allow you to get a great return on your investment as well. Most people do not feel like that's a good thing at all, we should be expecting it to reach a point where it's not going to matter that much, we shouldn't be bothered with any other asset.

[Cookdata]

It is said that even the king's treasury runs out. If you keep your savings in hand, it may run out someday. So I want to invest my savings in the long term from now on and get to a point where I can live comfortably with a share of the investment profit in the future. I want to know from the experienced Bitcoin investors on the forum, who have become successful today through time, patience and the right decisions. I want their advice. How should I start? How to manage risk?

And how can I stay mentally strong in the long term?

I want to believe your earning in 4 or more figures from the way you are saying your hard earn money. I'm not saying don't invest in Bitcoin but you are having high expectations with your savings if you dive into Bitcoin but don't expect a miracle over your investments if you don't have high money to invest. I'm not saying you can't have a return on your investments but reduce the expectations, if Bitcoin doesn't make $1m per Bitcoin from here, you will barely make less than 10x.

Another thing you need to keep in mind is understand that the Bitcoin isn't always like you may predict. Try as much as possible to avoid trading. Last two weeks, ordinary trader with 2x leverage had their balance liquidated. Didn't know how that happened but it was so terrible. If you buy any Bitcoin, don't keep them on the exchange, withdraw it to your personal wallet preferably a hardware wallet for your safety, don't use a software wallet if you don't need it.

[Maslate]

Why not? Everyone is free to invest into bitcoin, but not everyone should expect that their bitcoin investment will all come to profits. It takes time and patience, to understand all the basics and learn the process.

Now if you have good amount of savings that are totally affected by inflation, invest but do not put all your life savings into bitcoin. You can invest into other assets as well that suit your knowledge and skills, but you can also continue to save while waiting for bitcoin investment to pay off and reap what you have to sow. Having a good amount of savings is also of high importance, one should never disregard about the value of savings.

[Japinat]

Bitcoin can make you ruin your mental and emotional peace, but if you know how long term investment works with bitcoin, it will be easy for you to manage the risk and still remain calm and patient all throughout the process.  But learning takes time, and just ride whatever the market condition, buy when there is an opportunity to buy, and take time to sell as well a portion of your bitcoin when there’s a good opportunity to sell, but always avoid panic selling, otherwise you will only regret for a wrong decision making, while partly blaming yourself for the loss.

[junder]

I bet to disagree when you said it’s okay to invest his life savings straight to bitcoin. There are still no guarantees that bitcoin will continue to increase its value for such a long time. Although we believe on it, but it’s because we develop faith into bitcoin, but hey investing all the life savings into bitcoin, this is certainly not a good decision to follow.

My point is, it’s good to invest in bitcoin but only with a manageable amount. That way, we can still expect decent amount from bitcoin in the future, and at the same time we still have some good amount of savings left in the bank not just for emergency funds, but for personal needs in the future.

Actually, if there is a desire to invest, it is good, not only in Bitcoin, but what you said is true, it is not a good decision to invest all your savings in Bitcoin because no matter how we live, sometimes we need money which is sometimes needed when in urgent situations, even if we have two financial savings, namely savings and reserve funds, but that does not mean that all of these savings can be invested, maybe using only a part of it is better, what we have to remember is that greed can sometimes be disastrous.

[Hvdv]

There are taxes everywhere. Inflation is another form of taxation, and people don't understand it. They save their money in banks, but the money loses value by sitting in the banks. It is known that most fiat savings would be eroded by inflation. I won't give you any financial suggestions. But you will have to look for better alternatives than the fiat savings on the banks. You could invest in Bitcoin if you want, you could invest on Gold, silver or other metals that unlikely to lose value in the near future. Most fiat currencies are losing value at this moment. So if you were thinking to invest in Bitcoin, do some research and go for it.

Alternative investment sources are always safer than fiat money. Long-term investments should never be made with fiat money. This is not an investment, but rather savings. Moreover, the two are completely different things. If we're looking to invest, I think Bitcoin is the most valuable investment tool right now. I also believe its future is bright. Furthermore, as you mentioned, other assets like gold and silver may be better alternatives for preserving money and avoiding inflation.

[Bd officer]

OP, someone advised you to buy land which is not bad advice, land price will gradually increase a lot. Don't know which country you come from? But there is a lot of demand for land in my country, which is increasing in price with time. However, buying land requires a lot of money at once, so if you don't want to take too much risk and if you have enough money you can buy land, if you want to take risks you can invest in Bitcoin, and investing in Bitcoin doesn't require much money. Now investing in Bitcoin is more profitable than land, but Bitcoin is more risky in terms of risk. However, it seems that you are interested in investing in Bitcoin, so if you want to invest in Bitcoin then you can start investing in DCA strategy with long-term planning. And don't forget to save emergency funds. Finally, you decide to invest by researching more about Bitcoin.

[bitzizzix]

Saving isn't inherently bad, but its value will be eroded by inflation. My advice is that saving and investing are the best ways to go, as they both serve different purposes.
Savings are meant to be an emergency fund that you can use when you really need it, even unexpectedly. Furthermore, your investments aren't used because you have savings or an emergency fund as a buffer.
Investments are meant to generate profits for your future, and you do them for the long term, and their value will continue to increase, such as Bitcoin, gold, property, and the like. However, when it comes to profits and assets that can truly maintain their value and be highly profitable, Bitcoin is the best. The most important thing is that you understand and have knowledge of the basics, as well as its track record and potential, which motivate you. As for knowledge or other things, you can discover or learn them over time. The most important thing is that you are consistent with long-term goals that support your growth without having to start from scratch.

[Danica22]

But after reading everyone's discussions on the forum, I realized that if you invest in Bitcoin in the long term, you can get more success than in land.

This is true but you need to know one more thing, the higher the profit the higher the risk. No asset or investment can give you high returns but you will be completely safe with it. Investing in real estate may not give higher returns but bitcoin is much riskier than real estate. 

Also, profits will be determined by your knowledge, capital and experience, not by assets. The proof is that many people do not need to know about bitcoin but can still get rich through other forms of investment.

Even though bitcoin has more potential, if you invest wrongly you will go bankrupt faster. So, depending on your preferences, risk tolerance and knowledge, you need to choose the form of investment that suits your ability. Don't invest based on other people's advice because you and they are not the same in capital, knowledge and taste.

By the way, if you want fair advice, you should go to financial, economic forums. This is a pure bitcoin forum so don't be surprised that most people recommend investing in bitcoin over real estate or other assets.

[Dunamisx]

If we save in fiat over time, we are wasting our time and the value on what we are saving, because inflation is going to be effective on them and reduced their value with time, while bitcoin increase in the value of any asset you have in it over time, the choice is ours, we may have to decide on what we wanted, just that some still don't have the full idea on the difference of Bitcoin long time investment to that of fiat.

[Oluwa-btc]

It is good that your intention is to invest in bitcoin for a long term. To get the most out of bitcoin, you must think long term, but you must be careful not to invest money that you will have need of in the nearest future in bitcoin. That being said you should only invest your discretionary income in bitcoin. And to successfully hold for the long term, you have to set up an emergency funds and reserve funds accounts, this will help you big time while holding your bitcoin.

Investing in Bitcoin is sure a  good option,it can protect wealth overtime.It'll be good to not go all in at once,start  small and remember to store safely using secured,legal and reputable wallets.Alongside,if you believe in diversification of income,there comes financial safety.Think of Bitcoin as part of the financial plan/balance not just a quick remedy.

[ashmodeus]

If we save in fiat over time, we are wasting our time and the value on what we are saving, because inflation is going to be effective on them and reduced their value with time, while bitcoin increase in the value of any asset you have in it over time, the choice is ours, we may have to decide on what we wanted, just that some still don't have the full idea on the difference of Bitcoin long time investment to that of fiat.

Now is not the time to accumulate fiat money because inflation is getting worse every year, even if we save a large amount every day, week or month in the long term, but if we calculate it based on the annual inflation increase, we will still lose, so to reduce the resulting impact we must immediately invest in assets that can maintain their value, gold and bitcoin are two assets that can provide what is resilience and these two assets have proven it, especially bitcoin because besides being able to maintain the value of bitcoin, it is also able to provide much better profits in the long term.