Bitcoin as savings, emergency needs possible? - page 12.

hroub

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BCH Wallet: 1PmR3k4cA4YVy7r7RVgYdSjnon2A1aJSLk

Quote from: ?? on ??

You'd better save some of your money in fiat form and use it again in part to invest in bitcoin as long-term savings. do not hang bitcoin as an alternative to the solution when in an emergency because it is very risky.

You are still using this stolen Bitcointalk account.

Stop using it and return it to it's rightful owner immediately!!!

Bitcointalk accounts are free and there is no reason to steal or buy a stolen one!

Go get your own!!!

thetruth123123

member

Activity: 280

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Right now I would be more supportive to that idea, than the time, when Bitcoin was falling and falling again Wink

It is good to have few

ekalak manjeng

newbie

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for me bitcoin is a savings for the future and can be made an emergency need as well. then bitcoin produces many advantages.

Tiktik

full member

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

I think your idea is good instead saving your extra money to piggy bank you put it in bitcoin investing but always keep in mind its like a double edge sword because of having high volatility. The good thing is the big chance of generating more profit is possible for long term hold and you are also correct that you can used it for emergency matters because in a short period of time you can convert your bitcoin to cash so easily.

MusicManPL

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At the moment, bitcoin is an unstable currency due to many factors. Governments do not recognize it as a legitimate method of payment, there is a 51% chance of an attack. Mining bitcoin is constantly becoming more expensive, which can lead to the collapse of the system. Investing in bitcoin requires only a fraction of the money.

Semaj123

member

Activity: 434

Merit: 10

Quote from: squog on May 08, 2018, 04:33:35 AM

Well... It greatly depend on the amount of money you may need in the emergency, the amount of money you can take out in one go and how long you will get your fiat when you actually liquidate your coins. I know for a fact that you can't just unload coins and rifht on that instant you will get your money. Then again, I'm still new to this.

Cryptos in behalf of its popularity is also becoming more useful especially in emergency situation. Trading coins is now becoming easy through the continuous development of some programmer. Also, some countries already have an online crypto wallet wherein you can instantly withdraw your asset. This is why saving Bitcoin can also be called for emergency purpose.

yaghoniyu

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

No, I think Bitcoin is long term investment, It cannot for emergency needs. You should to save your money in bank to fulfill your emergency needs.

squog

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Well... It greatly depend on the amount of money you may need in the emergency, the amount of money you can take out in one go and how long you will get your fiat when you actually liquidate your coins. I know for a fact that you can't just unload coins and rifht on that instant you will get your money. Then again, I'm still new to this.

Fluffinfinity

member

Activity: 158

Merit: 10

Maybe yes, but is it not hard for you to pay it out as emergency comes? I mean, in trading? Wouldn't it be hard for you to trade it when you really really need a money as soon as possible?

Max.junior1

newbie

Activity: 134

Merit: 0

Quote from: burakdat on April 16, 2018, 02:40:28 AM

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

If Bitcoin in your country is used as a legitimate transaction tool, then it is very true that bitcoin is made for emergency needs. But if on the contrary, bitcoin in your country as a medium of exchange then I think is less precise. Because it takes time to exchange cryptocurrency (Bitcoin).

dirham99

newbie

Activity: 79

Merit: 0

Quote from: burakdat on April 16, 2018, 02:40:28 AM

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

No, it is impossible that bitcoin as saving for emergency needs. You prefer to save your money in banks for emergency needs. Bitcoin is long term investment.

jakfaronputra amin

newbie

Activity: 79

Merit: 0

Yes Bitcoin is a saving for the future and can be needed in an emergency
if i really need it then i will sell some of my bitcoin for my needs

putra daerah

newbie

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Merit: 0

Quote from: ivrynx on May 05, 2018, 09:51:00 AM

Well at first, bitcoin was created to be a currency, and now bitcoin had became a asset like gold, I would keep bitcoin as savings since the value increases through time and aside from that bitcoin is also flexible, since you can invest in other altcoins that have great potential, but as an emergency need, you need to separate the two, do not just rely on bitcoin about everything, make sure that you have emergency funds in your bank or hidden somewhere else, wherein you can easily liquidate it, though bitcoin can easliy be converted to fiay, in times of emergency, you may not have any access, and from the start, before you venture into investing, you need to secure your emergency funds first, since bitcoin is volatile, when the time you cash it out as emergency funds, the value might be lower than you expected, and may turn out negative on your part.

yes ... I agree with you, bitcoin may be our savings for the future, but along with rising and falling prices in the market, bitcoin can not be fully expected as an emergency savings.
besides we have savings in bitcoin itself, we have to have other savings like in bank or stash at home.

bhabygrim

sr. member

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Best Bitcoin Casino www.coinsaga.com

Yes it is really helpful to save in bitcoin specially for me,
If I have a Fiat I couldn't really control my expenses I ended up spending all of my money in the things that I don't really need,
Thanks to Bitcoin whenever I have some bills to pay I could pay it because I have some savings in Bitcoin .
It is just like a piggy bank to me and it really helps a lot .

tonysitaly

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Bitcoin as a savings and emergency needs is not a good choice. It is a good way to invest bitcoin as an investment, as we know that we may be able to withdraw money at an uncertain time when we need to save and emergency, and bitcoin often fluctuates.

Gameroid

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Quote from: Roboabhishek on May 07, 2018, 01:14:03 PM

I believe that using bitcoin as emergency money is not a bright idea because it will mean once you need money you will have to sell it at the current market value which could have decreased meaning you have lost money. You should just stick to saving a bank.

But i do not think that it has become so much difficult. i think that as time pass now it is becoming easy for the people to use bitcoin for investment and trading purpose but with the same time they can also use bitcoin for so many other activities, i think that now they can easy convert their bitcoin in to fiat currency and therefore i do not think that it is so much difficult to use bitcoin if they need it in emergency.

zngit

newbie

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Bitcoin is good for saving it last so long because the value won't not decay unless things will change. It can save the lives of the people in times of trouble. Emergency can use bitcoin to pay for exchange in case of no choice between life or bitcoin. Crucial moment to make a decision but it must be one.

Roboabhishek

hero member

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I believe that using bitcoin as emergency money is not a bright idea because it will mean once you need money you will have to sell it at the current market value which could have decreased meaning you have lost money. You should just stick to saving a bank.

Bitcoin2009

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I do not like to rely on bitcoin for emergency needs, bitcoin is an investment and we should have more money when investing, if we make bitcoin for emergency needs while the price drop then we can lose and regret.

Situk brok

member

Activity: 401

Merit: 10

In addition to being a bitcoin currency can also be a tool for long-term investment like gold, you can invest in bitcoin or just keep the money you have. In this bitcoin and at some point you really need that money and you can take by selling bitcoin you have.

Topic: Bitcoin as savings, emergency needs possible? - page 12. (Read 2065 times)