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Topic: Bitcoin saving - page 2. (Read 8783 times)

legendary
Activity: 3108
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
April 05, 2017, 05:53:38 AM
Similar to what Unamis76 said, I will only comment on the last part since I have never taken the 52-week challenge. If I were to choose between saving in fiat vs saving in BTC, I would always go with BTC. Although the currency is highly volatile, it most often takes currency's value up rather than bringing it down. This is because the number of BTC users is on a constant rise, which ultimately results in value appreciation of the currency. on the other hand, fiat only tends to decrease in value over time. so for me, its Bitcoin over fiat any day.

Yes. The fact that there will be no more addition to the bitcoin number defines it all.
If there is a growing popularity into which one wants to own a part of it, it becomes more valuable.
One example is gold, although they can still mine it someday it will be depleted. That makes it valuable.
Saving thru bitcoin is the most wise decision for me. Thinking there will come a time that every satoshi will count. This 21 million bitcoin will not be enough for so many users. Subtract the ones that are lost.
hero member
Activity: 882
Merit: 500
April 05, 2017, 05:49:18 AM
Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?
This is really a big question in logical ways because the main thing that I found in the bitcoin is that we can make better earning of we have patience .
Here the Investment of our savings should be deposit into bitcoin again or altcoin or in bank  is depends upon the legality of the bitcoin Because the Investment will remain safe if the bitcoin is fully legal but what happen if you saved in bitcoin and bitcoin declare as illegal in your country .
And absolutely the bitcoin is as saving is more profitable than Fiat or bank money .
hero member
Activity: 1680
Merit: 535
Bitcoin- in bullish time
April 05, 2017, 05:42:54 AM
Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?
Doing the 52 weeks saving challenge is the best in fiat rather than in bitcoin because as you said that bitcoin is very volatile to its price and the amount that you started will not be consistent in every week saving, So i think it is best for you to just stick and do the challenge in fiat rather than using bitcoin because it is less hassle and you will not encounter confusion like volatility of the bitcoin.
jr. member
Activity: 54
Merit: 10
April 05, 2017, 04:40:09 AM
Similar to what Unamis76 said, I will only comment on the last part since I have never taken the 52-week challenge. If I were to choose between saving in fiat vs saving in BTC, I would always go with BTC. Although the currency is highly volatile, it most often takes currency's value up rather than bringing it down. This is because the number of BTC users is on a constant rise, which ultimately results in value appreciation of the currency. on the other hand, fiat only tends to decrease in value over time. so for me, its Bitcoin over fiat any day.
legendary
Activity: 1302
Merit: 1018
Cashback 15%
April 04, 2017, 11:54:37 PM
I think saving bitcoin is a good idea.
Because when you save bitcoin it is
like an investment that you can use
when you need it.
Its really a good idea to save bitcoin for the future and yes it is a good investment and there are lots of users of it do treat it as an investment but we should not fully rely on it because there are instances that prices might crash in the future thats why we just save or buy only the amount we can afford to lose up.
That's the privilege of bitcoin. you just need to keep it in your wallet and you will benefit from a significant price increase.
the possibility that there may crash when you need the money and want to sell bitcoin at the same time bitcoin price is fall. I think if you want to make bitcoin as an investment with way rebuy and sell if the price rises and while watching the bitcoin prices.
That's how you do it, take chance of making money when the price is dumping because in due time it will rise again. This is the normal trend of bitcoin and if you read the news there are really no serious reason why it dump, it's just some people with great volume are making some FUD to make the weak hands panic and sell.
Thats why we should really be vigilant on checking the price of bitcoin if it suddenly drop or pump because on those situation thats the time we could able to make money out of those movements and chances of buying cheap coins is very hard nowadays considering the current price of bitcoin.
hero member
Activity: 2954
Merit: 672
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April 04, 2017, 10:48:13 PM
I think saving bitcoin is a good idea.
Because when you save bitcoin it is
like an investment that you can use
when you need it.
Its really a good idea to save bitcoin for the future and yes it is a good investment and there are lots of users of it do treat it as an investment but we should not fully rely on it because there are instances that prices might crash in the future thats why we just save or buy only the amount we can afford to lose up.
That's the privilege of bitcoin. you just need to keep it in your wallet and you will benefit from a significant price increase.
the possibility that there may crash when you need the money and want to sell bitcoin at the same time bitcoin price is fall. I think if you want to make bitcoin as an investment with way rebuy and sell if the price rises and while watching the bitcoin prices.
That's how you do it, take chance of making money when the price is dumping because in due time it will rise again. This is the normal trend of bitcoin and if you read the news there are really no serious reason why it dump, it's just some people with great volume are making some FUD to make the weak hands panic and sell.
hero member
Activity: 891
Merit: 500
April 04, 2017, 10:25:18 PM
Building up the amount of Bitcoin in your portfolio is the correct thing to do if you want to earn more money. Bitcoin is pretty easy to lose because most of the people that hold them like to try to trade them within Altcoin exchanges and gambling websites. They usually lose their Bitcoins when they do that and then they complain that they have no money or can't get any money.
Keeping an offline Bitcoin wallet is a really easy method to building the amount of Bitcoin in your wallet.
hero member
Activity: 1666
Merit: 502
April 04, 2017, 10:18:28 PM
I think saving bitcoin is a good idea.
Because when you save bitcoin it is
like an investment that you can use
when you need it.
Its really a good idea to save bitcoin for the future and yes it is a good investment and there are lots of users of it do treat it as an investment but we should not fully rely on it because there are instances that prices might crash in the future thats why we just save or buy only the amount we can afford to lose up.
That's the privilege of bitcoin. you just need to keep it in your wallet and you will benefit from a significant price increase.
the possibility that there may crash when you need the money and want to sell bitcoin at the same time bitcoin price is fall. I think if you want to make bitcoin as an investment with way rebuy and sell if the price rises and while watching the bitcoin prices.
legendary
Activity: 1372
Merit: 1008
April 04, 2017, 07:43:23 PM
I think saving bitcoin is a good idea.
Because when you save bitcoin it is
like an investment that you can use
when you need it.
Its really a good idea to save bitcoin for the future and yes it is a good investment and there are lots of users of it do treat it as an investment but we should not fully rely on it because there are instances that prices might crash in the future thats why we just save or buy only the amount we can afford to lose up.
That's the privilege of bitcoin. you just need to keep it in your wallet and you will benefit from a significant price increase.
legendary
Activity: 1218
Merit: 1007
April 04, 2017, 06:21:37 PM
52 week challenge is more focus on saving rather than gaining something in return. Personally I would pick Fiat Currency if saving money is the case because I would not worry at all about volatility also if I would be doing the 52 week challenge with Bitcoin and when the prices is getting high I would be forced to convert my Fiat into Bitcoin just to cope up with the challenge making it not efficient as I would be buying Bitcoin that time at current market price whether it is down or not. Well to summarize my answer to your question the quick answer to your question about "saving" then obviously Fiat currency is the best compared to Bitcoin.

I do not agree with you. In some countries, the national currency has become very depreciated. Therefore, there will be crypto currency. Bitcoin is not subject to inflation, so for some it can be a convenient base for saving assets
It doesn't really matter whether or not the national currency is decreasing in value by a lot or a little, anything but a very small change is something that shouldn't really be acceptable for the average person. It takes away from their existing wealth and devalues work. Anything that takes away the fiat value and puts it into something that at least grows along with inflation is a good thing, and cryptos just happen to be pretty good at being relatively good investments, as long as time and care is taken.
sr. member
Activity: 574
Merit: 250
April 04, 2017, 05:46:13 PM
Bitcoin saving idea will be a profitable way of handling your digital currency, because in time price will reached higher you can sell your holding and good income will be on your wallet balance. Holding a bitcoin for a long period of time is better investments to have if you are at an investment of your money, even you have fiat cash it's still awesome to have.
sr. member
Activity: 378
Merit: 250
April 04, 2017, 05:42:31 PM
I just looked at that challenge, it is interesting, but I am lucky enough to have no life so I save a lot Smiley
hero member
Activity: 1092
Merit: 501
April 04, 2017, 05:33:08 PM
yes, why not  save bitcoin for the future. Beside buying it then hold for a long term will really give us a big profit after a years of waiting to sell it at the higher price value. Cheesy
sr. member
Activity: 784
Merit: 250
April 03, 2017, 07:05:54 PM
Never try this challenge but I can say this, bitcoin will drop down not for much, and after that will raise up. So you can save some bitcoin and fiat money now and when the time is right you will buy in a low price, you will see the price and then you will sell high Wink
Well, your right with your thought about in bitcoin, ti was dropped last week at 900$ plus something but now it now calming to every bitcoin lovers because its bit recovered now at 1161$ the value of bitcoin at the present. However, I also never try that challenge as the mentioned above.
sr. member
Activity: 301
Merit: 250
April 02, 2017, 11:56:56 AM
52 week challenge is more focus on saving rather than gaining something in return. Personally I would pick Fiat Currency if saving money is the case because I would not worry at all about volatility also if I would be doing the 52 week challenge with Bitcoin and when the prices is getting high I would be forced to convert my Fiat into Bitcoin just to cope up with the challenge making it not efficient as I would be buying Bitcoin that time at current market price whether it is down or not. Well to summarize my answer to your question the quick answer to your question about "saving" then obviously Fiat currency is the best compared to Bitcoin.

I do not agree with you. In some countries, the national currency has become very depreciated. Therefore, there will be crypto currency. Bitcoin is not subject to inflation, so for some it can be a convenient base for saving assets
hero member
Activity: 1806
Merit: 671
April 02, 2017, 11:14:02 AM
52 week challenge is more focus on saving rather than gaining something in return. Personally I would pick Fiat Currency if saving money is the case because I would not worry at all about volatility also if I would be doing the 52 week challenge with Bitcoin and when the prices is getting high I would be forced to convert my Fiat into Bitcoin just to cope up with the challenge making it not efficient as I would be buying Bitcoin that time at current market price whether it is down or not. Well to summarize my answer to your question the quick answer to your question about "saving" then obviously Fiat currency is the best compared to Bitcoin.
hero member
Activity: 2996
Merit: 600
Eloncoin.org - Mars, here we come!
April 02, 2017, 08:59:09 AM
The 52 week challenge is a terrible idea for Bitcoin because the price is so volatile.  You just need to get in as early as possible with the money that you can afford (as soon as the price is at a reasonably low point like now).

Well yeah, the price now seems to be higher and doing it with bitcoin instead of fiat is more of a challenge. But if you do have stable source of income in bitcoin and will try this out for sure you are going to get a lot of profit in the end after saving. Doing this at lower price of bitcoin isn't going to happen now and in the future.
hero member
Activity: 546
Merit: 500
April 02, 2017, 08:56:11 AM
The 52 week challenge is a terrible idea for Bitcoin because the price is so volatile.  You just need to get in as early as possible with the money that you can afford (as soon as the price is at a reasonably low point like now).
hero member
Activity: 560
Merit: 500
April 02, 2017, 08:52:46 AM
Is anyone in here familiar with the 52 weeks money challenge?
Since it is new year I've decided to take that challenge as a refresher and to try if I can save money using that pattern.
Question now is do you think saving with bitcoin will work? I you are familiar with the 52 week challenge it is where your daily deposit in your saving will have an increament of which amount you started in week one. Since bitcoin is so volatile do you think i'll save more if it is in fiat or in bitcoin?
Me myself i do the 52 weeks money saving challenge in my own, i save my daily allowance for straight 52 weeks and earned almost 400$ through it.And i think it will work too in process of bitcoins and maybe alot more than you expected because bitcoins price is changing from time to time high to low and low to high so if you added at the right time there is a huge amount increase in your savings
hero member
Activity: 1190
Merit: 500
April 02, 2017, 08:44:44 AM
Saving bitcoin is one of the greatest investment because when you save it for a years the price will double or triple just like the past happenings that the bitcoin price is increasing every year since it started so I think saving bitcoin is good for stake holder or even small time that is holding 1 bitcoin and up because they will benefit for it.
This is true of the easiest investment ever bitcoin great addition to the potential that you will profit you only need to save your fiat money to bitcoin
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