Bitcoin: Saving for Tomorrow, Starting Today

[Alphakilo]

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What do you think? Is Bitcoin a worthy part of future savings or not?

To be honest, there are many options for future savings that gives good return of investment. We have mutual funds and government bonds that gives upto 15 to 18% annual return. These are smart investment options which gives peace of mind, unlike a volatile asset like bitcoin. When I knew bitcoin newly and joined this forum, I hype it for all I do, but I am heading to 6 years of active investment in this industry, I can tell what works and what doesn't work.

If I have a huge fund to like $100k and above, I am going for mutual funds investment with steady annual return. But if I don't have a huge fund, only my petty earnings, I will use bitcoin DCA method to try and achieve similar result on the long run.

I think with a large portfolio one can actually invest in other notable assets for steady annual returns as you mentioned, but one reason why Bitcoin stands out is the fact of its DCA strategy for retail investors, the part of its ETF investment option for large pockets and the fact that it has the ability to increase in value and price overtime to bring a sizeable return after a long term holding plan.
Bitcoin acts as a smart savings tool for calculated risk, and one can still invest in it after securing other financial plans for real world uses.

[Orpichukwu]

Bitcoin is one of the best asset to to save for the future. Not only does it generate the highest profits, it also serves as bugger against inflation that is prevalent in fiats. This is why even the rich are massively accumulating Bitcoin now and some through ETFs

Accumulating and holding bitcoin can give you profit over time, but don’t make it sound like it’s the only asset that can give you its own type of profit; nothing is guaranteed, but it’s better off not using that highest profit as some stock and other assets might beat that sometimes. Even if it’s not guaranteed, don’t get me wrong when it comes to crypto and security. Bitcoin is top-notch, but I don’t like when it’s being overpraised in terms of profit.

[Kelvinid]

What do you think? Is Bitcoin a worthy part of future savings or not?

The same question many people ask when bitcoin itself was not that valuable, the time where most of us still doubt the potentials of bitcoin. But look at bitcoin now, the price is too expensive, lucky are those who trusted bitcoin early because they are probably making a fortune with bitcoin now.

Bitcoin has been worthy all throughout the past years, so most likely it will remain valuable in the future. Saving it and adding more bitcoin in our portfolio is the smartest thing to do, and hold them for long term as long as we want that way.

[Sanitough]

What do you think? Is Bitcoin a worthy part of future savings or not?

Yes it is. Those who have been saving bitcoin for years have already seen its real value and still continue to accumulate more not just to prepare for future emergencies and goals, retirement, but also to have something valuable that they can leave to their children and loved ones when the time comes they are no longer capable of bitcoin investment.

But let's not also forget to save some fiat, but maximize saving bitcoin because its the best asset I know that has an incomparable value, and not only that, its the only asset that will make us our own bank and be with our full custody and maximize security.

[Flipzo]

If you're saving with small regular buys, watch how you withdraw them. Every withdrawal to your own wallet creates a separate coin (UTXO), and when you later send everything in one transaction you pay for each of those inputs. Fifty small withdrawals can mean a noticeable fee when the network is busy. Either withdraw less often in bigger amounts, or consolidate them into one when fees are low.

[Stalker22]

What do you think? Is Bitcoin a worthy part of future savings or not?

What do you think we are doing here?  DCA in bitcoin is probably one of the only ways normal people can fight inflation that seems to rekt all of us every few years.  Traditional savings accounts with high interest rates are not a solution anymore since to buy food cost much more than it did a few years ago... thus, you can keep your money there if you want your buying power to decrease over the years.

Dont think about the get-rich-quick scheme anymore, but just as a long-term survival at this point.

[JiiBs]

What do you think? Is Bitcoin a worthy part of future savings or not?

The singular fact that, some countries at this time, like the US have taken up Bitcoin for its monetary reserve should actually mean something. It should indicate that if Bitcoin can be considered to be worthy enough for a reserve currency, anyone who is actively investing in Bitcoin today would be taking a page out of that play book and it’s actually a step to the right direction.

However, it’s important to treat the currency more like an investment and not have to withdraw from it with every chance you get. You wouldn’t be saving nothing for your future then.

[kawetsriyanto]

Is Bitcoin a worthy part of future savings or not?

Reading your description about Bitcoin, I know you are an experienced one in crypto investment.
Well, since Bitcoin has high volatility, it shouldn't be for saving but for investment. If someone wants to have saving, he needs to choose something that has a more stable in price/value. Storing money in banks or holding Gold seems a more realistic option. Meanwhile choosing Bitcoin, it should be for a long term investment. We know Bitcoin isn't for a short term holding, people usually hold for 3-4 years at least.

[Zoomic]

Becoming wealthy overnight is never the main benefit of accumulating Bitcoin gradually because that's not how it works, long-term accumulation also helps you develop a saving habit as well as influencing your mind to think beyond immediate consumption.

So if you're saving for the future, you also have to make plans for emergency funds that can provide immediate financial security when it becomes necessary.

Believing in Bitcoin is what we preach but do not invest in it with the same money that you might be forced to sell to retrieve when an immediate need arises, you might sell lower than your entry point and that doesn't make you a smart investor.

[Hamza2424]

Haha bro, of course it is worthy enough to get a place in our portfolio.

But acquiring it is just step 2, step 1 is making your mind. Step 3 is how to hold it safely for the long term. Because when you put your savings in BTC, you have to look after it yourself. If you think exchanges are safe, then a coin is only as safe as the exchange. Binance gets hacked, but they had SAFU. If they didn't, maybe we would have to wait for years like FTX to get our funds back, and by that time, their value would increase.

FTX mismanaged funds, but Binance prepared for this day. If we own the keys, we own the funds. Even if you own them in a self-custodial wallet, you have to use multisig ones so if hackers get access to your wallet, they won't be able to access the multisig funds, and by the time the news is out, you can move them to a secure position as well.

Now for step 2, I give only one advice. Do DCA. That makes everything easier.

[laspol65]

Yes, of course, Bitcoin can change your life through gradual savings, but there are some interests in it, such as the condition of holding it for a long time. If you invest in Bitcoin and wait for a short time, there will be no profit, but rather a loss, so to deal with this situation, you must follow a strategy. So that you can easily hold Bitcoin investment for a long time. Because Bitcoin only brings the most profit to patient people, so with the amount of money you have, buy Bitcoin little by little for the future and continue to move forward towards the future by maintaining the continuity of purchase.

[Crypto_Timothy]

What do you think? Is Bitcoin a worthy part of future savings or not?

I know for a fact that if you invest money that you need for grocery next month, if you invest that money into Bitcoin, i know that you will not enjoy the full benefits of actually investing in Bitcoin because you will need to withdraw that money which might come as a disadvantage for you so that is why the money you can also consider as investment especially for Bitcoin should be based off an income that isnt tied to an emergency in the future.
Just like you said, the market moves up and down at its own pace, so you can never predict 100% which way it will move, so that caution must be applied and indeed it cannot be viewed as a guarantee to get wealthy in the near future, you basically cannot invest in Bitcoin and expect after 2 months you will get massive returns which is why the money you invest has to understand the reason or they why otherwise mistakes will be made.

[Sonia_123]

Financial planning is essential when it comes to the future. Most people save their money in preparation for emergencies, future goals, and freedom from monetary obligations. Nevertheless, with the change of economic circumstances and inflation rates, people are looking into various options to protect their capital.

Bitcoin became one of the assets which many people trust in. Its limited number and decentralized network give it an advantage compared to other forms of currency. But Bitcoin is a very volatile asset, and its value may increase or decrease. Thus, it should not be viewed as a guarantee to get wealthy in the future.

It would be beneficial to collect Bitcoins gradually by making DCA purchases on a weekly or monthly basis. It will allow investors to minimize their dependence on the constant changes on the market. The frequency of such purchases depends on income, expenses, and plans of each person.

Still, one should never put future above the present. Emergency savings, necessary costs, and existing commitments must go first. Only investing money which people can leave in a reserve for a long period of time would be a reasonable thing to do.

What do you think? Is Bitcoin a worthy part of future savings or not?

If you don't plan for your future today, then how can your future be better buying and holding bitcoin for a long term gives you an advantage to secure your future financial or storing for funds in Bitcoin protects your funds from devaluation, the effort you put today will determine your tomorrow that is why you see alot of investors investing into bitcoin even though it is not guaranteed hundred percent at least it is better than fiat in terms of decentralization, security, volatility.

For now Bitcoin remains the most trusted and secured asset any one can have

[Botnake]

Becoming wealthy overnight is never the main benefit of accumulating Bitcoin gradually because that's not how it works, long-term accumulation also helps you develop a saving habit as well as influencing your mind to think beyond immediate consumption.

So if you're saving for the future, you also have to make plans for emergency funds that can provide immediate financial security when it becomes necessary.

Believing in Bitcoin is what we preach but do not invest in it with the same money that you might be forced to sell to retrieve when an immediate need arises, you might sell lower than your entry point and that doesn't make you a smart investor.

While you save for bitcoin through DCA, save also in fiat because everything these days are possible with fiat. This is also one way so that you can consistently invest in bitcoin without any interruption because your fiat savings is also well established. When emergencies happen, at least you have fiat savings that will immediately cater to your needs, without the need of touching your bitcoin investment.

Both fiat and bitcoin are worthy of saving, but bitcoin is more valuable when saved for long term. While the value of fiat decreases, bitcoin's value often appreciates, and become a good means to hedge against inflation.

[Bd officer]

What do you think? Is Bitcoin a worthy part of future savings or not?

Actually wise people think about the future and plan to invest in profitable sectors. Most of the people in our country plan to invest in land for the future because according to my country land is the best investment.

Anyway I don't know how others see BTC but personally I also think Bitcoin is the best medium for saving for the future so I have chosen Bitcoin for saving. I will save in BTC for the next 10 years and after that I plan to buy land because gradually I will increase my savings by investing in BTC. Here I can protect my money from inflation and also get profit.

[General_Bitcoin]

I think that is also important that how long you will have your money invested. If you are saving for retirement and looking at an investment over 20 years, Bitcoin may be a good investment for you. However, if you are looking to use the money within 2 or 3 years for something like a house or education then the risk changes. Although DCA can prevent you from investing all your money at the same price, you can still get caught out by a prolonged bear market. Overall everyone knows Bitcoin is a good investment for the future but depends on what you are saving for and how long you are saving for.

[sunsilk]

Many of the local currencies are heavily damaged a lot due to the inflation. So it makes sense if someone will choose bitcoin to be part of their savings and investments.

While US dollars is currently strong against other local currencies, it won't be like that forever.

Unlike with bitcoin, its data and record is publicly displayed about how it went throughout the years and that information will speak for itself if it's worth it or not.

[Muba20]

Financial planning is essential when it comes to the future. Most people save their money in preparation for emergencies, future goals, and freedom from monetary obligations. Nevertheless, with the change of economic circumstances and inflation rates, people are looking into various options to protect their capital.

Bitcoin became one of the assets which many people trust in. Its limited number and decentralized network give it an advantage compared to other forms of currency. But Bitcoin is a very volatile asset, and its value may increase or decrease. Thus, it should not be viewed as a guarantee to get wealthy in the future.

In today's world, there is constant uncertainty and instability due to war and various reasons and in this situation, maintaining the value of money is a big challenge. That is why people give the most importance to their financial security. And in this case, Bitcoin can be a best option. Since there is a fixed supply of this decentralized digital currency, people's demand for it is increasing. Although it does not guarantee financial profit, those who trust in it can definitely get good returns from it. In terms of financial security in the future, those who start long-term investments can get several times their investment. We can also see such a situation if we review the history of Bitcoin.

Volatility of Bitcoin's price is a common behavior, investors often make mistake here. They get too scared of a slight price drop, which is why they fail to hold their Bitcoin according to their desired goals. The investor must implement a long-term plan.

DCA is the most suitable strategy for long-term holding and increasing its amount. Investors who regularly deposit Bitcoin from their discretionary income for long-term holdings will be able to build a large portfolio of Bitcoin that can play a major role in their financial security. In addition, there are many investors who can invest in Bitcoin to protect their assets from inflation.

[Sobz]

Still, one should never put future above the present. Emergency savings, necessary costs, and existing commitments must go first. Only investing money which people can leave in a reserve for a long period of time would be a reasonable thing to do.

What do you think? Is Bitcoin a worthy part of future savings or not?

And if you should look at it the future begins in the present, if you are thinking the future is far from you then you may be making a terrible mistake.  Bitcoin is not just a future investment it is an investment that needs to be consider in the present. One thing about inflation it kills the value of money when you dont act immediately. Bitcoin plan is something that one needs to accumulate bitcoin consistently and never to save your money in fiat because it will definitely lose value.

[Saltysugar99]

I think it is much more important to hold bitcoin for the future. If you hold fiat currency then you also have to think about how much wealth will be possible to buy with that accumulated fiat currency savings after the next 10 years. If a person keeps $20,000 as savings it will remain the same amount in the future but you also have to see whether the purchasing power of that money will remain the same or not. This is exactly why bitcoin is important for achieving long term financial security. Because due to the limited supply of bitcoin it is not possible to increase the supply even if its demand increases. So in the long run the price of bitcoin keeps increasing whereas the purchasing power of fiat currency keeps decreasing. It is not clear at this time what stage the economy will actually go to in the future. However we understand that the state of the world economy is not good. Because the debt of developed countries is constantly increasing. Inflation is increasing all over the world due to uncontrolled money printing. To me financial planning is that will give us financial security in the future. A person should be aware of their financial situation at this time and hold bitcoin for the future.