Bitcoin: Saving for Tomorrow, Starting Today

[Ronsbit]

Bitcoin to my own view can not be seen as savings because if you call is savings the it should be a a stable value that is not volatile but retain its value in same monetary measures.
Bitcoin could be seen as an investment because of it's nature to make profit. Although it is unpredictable and as an investor, you should be able to be patient with the process most especially a long term investment because of the bull and bear season as to know when to withdraw your profit.
My question is this, what if the Bitcoin you bought for savings value dropped low beyond your purchase capital as at the time you planned on making sales, will you still call it savings?

[AmaGold70]

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

It’s well worth considering as part of your future planning alongside other valuable investment options.
People with sound financial planning habits categorize their money into several funds as part of their financial management strategy. Money is allocated to funds for education, healthcare, and emergencies; this approach serves a good purpose and has been proven to make life more enjoyable because preparations are made from the very beginning.
Savings invested in Bitcoin are also an excellent way to preserve their value.

The benefits of savings can never be over emphasized. Many people suffered financial difficulties because they are unable to save, not just savings but saving money in assets that increases in value over time. Saving your money in Bitcoin is a nice idea, however spreading your savings among different assets is also a good idea which means you can save in Bitcoin, gold, and stock this is for the sake of diversification. If you must give value to your savings, avoid keeping your money in the bank because it can only depreciate in value instead of gaining value.

[Hewlet]

My question is this, what if the Bitcoin you bought for savings value dropped low beyond your purchase capital as at the time you planned on making sales, will you still call it savings?

The name you call it does not matter that much at some point and whether you call it savings or investing, what you want to get out of it at the expiration of your set goal is what matters most. as per your question which is related to what to do if you planned taking out your profit at a set time and at the time the worth of bitcoin goes bellow what it was at the time you started buying your asset, in most cases, it is going to be so if you invested for the short run.

If you are holding your asset for a duration of 10 years for instance, it is almost close to an impossible situation that bitcoin will be less than it current price in 10 years to come. if yo are a long term investor, you have no reason to worry as far as a thing like this is concerned.

[capuccccino]

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

I think it is a good way to save money because bitcoin is not physical money.
 You can't touch it or use it for everyday expenses like cash or a bank card. Because of this, you are less likely to spend it, so it helps you save money automatically.

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Well the future isn't guaranteed
And even if a person have period to make use of the money when they go
There's no assurance it would be used wisely.

If someone gets a large amount of money for the first time, I don't think they will always spend it wisely.
However, we live in such uncertain times that saving money should be a basic habit. Bitcoin can be a good opportunity to do that.

[Ronsbit]

My question is this, what if the Bitcoin you bought for savings value dropped low beyond your purchase capital as at the time you planned on making sales, will you still call it savings?

The name you call it does not matter that much at some point and whether you call it savings or investing, what you want to get out of it at the expiration of your set goal is what matters most. as per your question which is related to what to do if you planned taking out your profit at a set time and at the time the worth of bitcoin goes bellow what it was at the time you started buying your asset, in most cases, it is going to be so if you invested for the short run.

If you are holding your asset for a duration of 10 years for instance, it is almost close to an impossible situation that bitcoin will be less than it current price in 10 years to come. if yo are a long term investor, you have no reason to worry as far as a thing like this is concerned.

The name does not matter as you have said but the main point there is the value as at when you bought it and when you want to withdraw it for sales or whatever purposes you deemed fit for it.
I understand that for a long term investment it would be a good one but for a short term, it might likely not be possible if the market fluctuations are in the bear direction. So calling it savings is really not feasible for a short term though and for this reasons why Bitcoin enthusiasts are advised to use spare funds they can easily let go if anything happens or they have an alternative means of finance to be able to cater for their needs.

[JoyceBTC]

My question is this, what if the Bitcoin you bought for savings value dropped low beyond your purchase capital as at the time you planned on making sales, will you still call it savings?

That’s why in bitcoin investment, it is always adviced to do long term and once you’re investing for a long term, you have nothing to worry about the price. Surely, the price will always fluctuate and can even go below your purchase price but once you’re investing for a long time like 8-10years, you don’t have to worry about that because by that time, the price must have already pumped higher even to an amount that was never expected.
So the question you asked can mostly be a problem to an investor, if he’s a short term investor.

[Ronsbit]

My question is this, what if the Bitcoin you bought for savings value dropped low beyond your purchase capital as at the time you planned on making sales, will you still call it savings?

That’s why in bitcoin investment, it is always adviced to do long term and once you’re investing for a long term, you have nothing to worry about the price. Surely, the price will always fluctuate and can even go below your purchase price but once you’re investing for a long time like 8-10years, you don’t have to worry about that because by that time, the price must have already pumped higher even to an amount that was never expected.
So the question you asked can mostly be a problem to an investor, if he’s a short term investor.

Long term investment is highly recommended if one wants to make good profit from their investment or holdings. But it must be done  with funds that would not be used within the time frame of the investment so that one does not feel tempted to withdraw it as a result of their situation or may be emergency. It is good to have a good source of income for financial backup in troubling times because some situations might tempt one to want to withdraw from their investment and that would make the incur loses because they have no other source to fall back on for financial backup.

[Eldestyoung]

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.

I think Bitcoin can be part of someone’s long term savings but I wouldn’t advise putting all your savings into it, the market is unpredictable, so it’s important to have emergency funds and take care of your daily expenses first. DCA is a good way to build your Bitcoin holdings gradually without putting too much pressure on yourself.
For me, it is better to accumulate slowly with money you can afford to leave untouched than rush into it hoping to make quick profits.

[greysonz]

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

Bitcoin is an essential part of any savvy person's financial portfolio. I can't even imagine my portfolio without Bitcoin, although I can easily imagine it without altcoins. As far as I understand, many investors are currently trying to diversify risks and shifting assets from one to another, which changes their portfolio: bonds, gold, deposits, crypto... but I'm sure you can do without all of this; there's an easier way. Just buy Bitcoin and store it. That's it. This is the least inflationary path, the simplest and most reliable. Bitcoin's potential hasn't even been realized yet, so it's important to invest in it with available funds.

[Powerjumboo]

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

Of course, Bitcoin is a worthy part of future savings because if we can keep Bitcoin as a long-term investment, then we can definitely earn a good profit from it and we have been seeing this for a few years. We have seen that at one time the price was very low, maybe at that time Bitcoin was not very valuable to people, but whenever the popularity of Bitcoin started to increase and the demand of people started to increase, Bitcoin has been continuously increasing. And those who have been able to hold Bitcoin for the long term since then have been able to achieve huge success from here. So, of course, investing in Bitcoin for future savings is a very good decision.

[Patrol69]

I would definitely agree with this that for those who want to invest in Bitcoin or accumulate Bitcoin in a long-term plan, it will always be a good decision to adopt the DCA strategy. This investment strategy basically makes the investment easier for the investor. After meeting your basic expenses, I think the investment plan with discretionary income is very important for investors.
We are currently in a time when local currencies are losing their value due to inflation, since local currencies are losing value, if money is saved in the bank, the amount of money may look large but that money will not have much value because the value of that money will decrease due to the rise in commodity prices. Therefore, it will be the wisest thing for investors to do DCA consistently.

[MusaPk]

It is easy to understand why someone would want to hold this asset. Hedging element depends on how quickly you would need access to your money. While Bitcoin can be a great long term hedge against fiat inflation, there will be times when the price will fall quite a bit. If you do need to use them at these points it could cause issues. Both assets can be a great addition to a portfolio. However, Gold is generally more stable and Bitcoin has greater growth potential but also much more risk.

If you are investing in Bitcoin then make sure you use your discretionary income for that purpose otherwise it won't be possible to hold your Bitcoins for long term and if you can't hold your Bitcoins for long term then it won't be possible to get good profit from Bitcoin. Gold is a different market with huge market cap, we saw massive increase in price of gold few months ago. Whether you invest in gold or bitcoin, make sure you understand the market well in which you are investing otherwise it will be just loss of your money.

[Achalugo BTC]

The benefits of savings can never be over emphasized. Many people suffered financial difficulties because they are unable to save, not just savings but saving money in assets that increases in value over time. Saving your money in Bitcoin is a nice idea, however spreading your savings among different assets is also a good idea which means you can save in Bitcoin, gold, and stock this is for the sake of diversification. If you must give value to your savings, avoid keeping your money in the bank because it can only depreciate in value instead of gaining value.

Exactly. That is what some people who call themselves investors don’t understand. It’s good to save, but it doesn’t have to be done base only from one angle , as it is important to spread their savings across different assets such as, in Bitcoin, land, gold, just as you have mentioned. These assets will increase in value instead of depreciating, if they are held for a long period of time. However, it is not only to say it out but having the ability to act on what one has said matters a lot, as saving requires patience, consistency and determination, as that is important and helpful for one to achieve their goal.

[Rabata]

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

Of course, Bitcoin is a worthy part of future savings because if we can keep Bitcoin as a long-term investment, then we can definitely earn a good profit from it and we have been seeing this for a few years. We have seen that at one time the price was very low, maybe at that time Bitcoin was not very valuable to people, but whenever the popularity of Bitcoin started to increase and the demand of people started to increase, Bitcoin has been continuously increasing. And those who have been able to hold Bitcoin for the long term since then have been able to achieve huge success from here. So, of course, investing in Bitcoin for future savings is a very good decision.

The idea of ​​considering Bitcoin as part of your future savings is certainly appricialbe. It is also important to maintain a balanced financial situation while holding Bitcoin in the long term. Many times, people need to save for unexpected situations in their lives, such as medical expenses, family expenses, or losing a job. In such cases, if there is no separate emergency fund, you may have to sell the saved Bitcoin despite having a long-term plan.

It is better to keep a certain portion of your income in Bitcoin according to your ability and save some money in an emergency fund so that you do not have to sell the invested Bitcoin when necessary. Because a good investment plan depends not only on the appreciation of the asset, but also on building the ability to maintain that investment even in difficult times.