Topic: Inflation may have driven me to this, bitcoin has the power to reverse it (Read 295 times)

Sure, everyone can do whatever they want, and I don't blame them. I'm responding to the OP's observation that it seems eager to make up for the disappointment of not having bought or traded Bitcoin earlier. It's a bit worrying when someone trades with the desire to profit quickly, especially if he is no longer in his youth.

In fact, many people exaggerate.

You are not saying what type of investments you had for the last 15 years, so I presume that you saved that money in a Bank? We all know that Banks give us low risk and low profit, so it is not the best investment option that you can take.

I like to have a balanced portfolio, with some money invested in low risk investments like Banks and some medium risk investments in property rentals.. but a large portion of my investments are into Crypto, because it has the potential to generate huge inflation busting profits. 

We all really want to make more money and we are lucky to meet bitcoin which can be a source of income or can be said as a long term investment.
Maybe that's not exaggerating because many people already make money after going through a process.
There are indeed many alternative options for making money.
Since we are on the bitcoin forum, we are talking about bitcoin, which has provided an opportunity for many people to have short, medium and long term investments.
This makes many of us able to make money so we still use bitcoin as a tool to make money.
And even though the amount of income we get varies, that doesn't make us stop because we believe that our income will also be large one day.

Banks are at your service in financial transactions, but trusting them as a store of value in fiat is not the wisest choice today. Bitcoin has clearly offered you a better choice as a store of value asset than fiat, bitcoin is also a more profitable investment asset than fiat and other investment assets. So it's really lucky that you choose bitcoin as an investment asset during inflation because fiat has pretty much lost its value.

I think the OP has been pretty good at choosing bitcoin as his investment asset during this inflation so I hope he can actually generate a worth return. I also have bitcoin, it will definitely be worth the risk.

Your OP has good thoughts on this. and it seems you also have studied bitcoin carefully. Because some people find it difficult to realize how potential bitcoin is for future investment. especially if it is a beginner who wants instant wealth. You have a mature mind that prepares you for the future. At the beginning of knowing crypto, I wasn't too interested in Bitcoin. but after I studied it more actively. I just understood that for the long term I have to have bitcoin investments in my list. I also had savings in the bank. but indeed inflation has reduced the value of money that I have. maybe the amount stays the same and also grows because of the interest from the bank. but that is not worth the decline in value due to continued inflation. so I decided to withdraw and invest in various fields and in bitcoin is one of them.

I applaud your determination to improve your financial situation, but don't forget that success stories are often cherry-picked and don't represent the average investor's experience. Remember to stay grounded in reality and don't let FOMO cloud your judgement.

Given what's going on, it's true that the government has a rather negative view of bitcoin, seeing bitcoin as an enemy rather than a technology that benefits us all. But I think part of this can be our fault, we've always propagated that using bitcoin is against the government, against the control of the bank. We are also considering banks as our enemies, so we have caused unnecessary misunderstandings.
Meanwhile, those investing in bitcoin are also using the bank in one way or another. I need both because they have their own uses and use cases.

Of course I'm also not going to single-handedly blame the bank just because I know a better option. But of course I would blame them for complaining after trusting the bank so much and regretting their decision when they got to know bitcoin. I don't think banks have done me any harm financially, but it is true that banks and their centralized systems are no better than bitcoin.

Banks have helped me in serving financial transactions even now, but I no longer entrust my money to them since I got to know bitcoin. Other than a limited amount of gold and cash reserves, I think I've put everything in bitcoin since I've known it.

Not only us, but I think the government can also use it as the most profitable and helpful solution in the financial system. It's just that the government's negative perception of bitcoin is sometimes very ridiculous instead of supporting it.

it's good that you are taking the initiative to learn about investing and exploring different options for making money. It's also important to be patient and not rush into any investment decisions without careful consideration.

Bitcoin and other cryptocurrencies can offer opportunities for investment and potential gains, but it's important to understand the risks involved and to take a balanced approach to investing.

Hmm, my dear fellow is bashing himself which is a sign of no self-confidence and satisfaction which is a sign of a negative impact on the personality. I think you have left all on Bitcoin now and blaming the traditional system for your own policies' failure I have seen many happy people outside with the same traditional economic system and they have achieved a lot. Bitcoin is not going to change your life as a miracle bro this is very true that you can enjoy some of the crazy features with bitcoin that you can enjoy in the traditional financial system. Bitcoin can only push your limits by removing some restriction rest of the things are based on your own efforts. Now if you buy and hold some Bitcoins and start dreaming after a year or two years you are gonna be satisfied then you are in some misconception. Yes you can make some good retuns with the investment nothing more then that with holding policy.

Try to implement Bitcoin in your life and merge it with your skills then check how it goes.

It's never too late to start. You are not alone because I think many people are just trying to join bitcoin even though they don't have much money to start buying bitcoin. But with the knowledge you gain, you can become a smart investor who will own bitcoins from now onwards.

The most important part of having a bitcoin investment is that you can buy bitcoin in the smallest units with your money to apply the DCA strategy in investing in bitcoin. It will allow you to change your life in the future. So immediately start investing in bitcoin and save the bitcoin.

It is true that inflation can erode the purchasing power of savings overtime as interest rates offered by bank on saving accounts are generally lower than rate of inflation worldwide. To counteract this risk, financial assets, such as Gold, stocks and Bitcoin are relatively better options and provide hedge against inflation. However, rather than relying on a single asset, it may be prudent to consider diversified portfolio, as  diversification approach is generally considered a viable strategy to potentially achieve better returns while reducing risk.

You are absolutely right, inflation is the biggest risk to our money we are facing at the moment. It makes no sense to put our money into a savings account with 1-2% interest rate, while the inflation rate is at 10%. We need to invest our money to try and save the value and purchasing power of our money. Crypto currencies is a nice alternative to stocks that provide benefits to our overall portfolio and will lower our risk profile. The most important step is to realise that we need to become proactive with investing and start buying our first assets. It's never too late to start investing, there will always be new opportunities around the corner we can take advantage of. 

Some perspective:

If you are "averagely comfortable" in the U.S., you are in the top 5% in the world. That is, your standard of living is higher than 95% of the rest of the people in the world.

Life is inherently not easy, banks are also run by people, and those people are also trying to find a way to survive in a difficult world. In this case, I wouldn't blame the banks because they are also in business for profit. They need to put their own interests first, they can't help others when they can't even take care of themselves.
And I agree with you, the best way is to save yourself, learn about how the world economy works, don't rely on anyone and expect to receive help from anyone. Bitcoin is the solution for us, but success or failure is up to us, bitcoin will not be able to save us when we use it the wrong way.

Well, you have learned the hard way. Inflation is the way governments steal from their citizens without most of them realizing it. You have savings that give you 1% interest and you don't realize that inflation is robbing you of 10%, which means that every year you lose 9% of your savings.

Bitcoin is a good option to beat inflation but even before it was invented, people protected themselves from inflation by buying financial assets, such as gold, stocks or mutual funds. I say this for you to consider it too, lest from now on you put everything in Bitcoin and can't sleep because of the volatility.

Stories like the one shared by OP are very common, there are many people out there that work for 40 to 50 years and do everything right, and suddenly they find themselves in a horrible financial situation and they wonder what could have gone wrong? But what they fail to realize is that this is how the system is supposed to work.

And the only way to avoid this sad future is by learning more about the economy and learn to rely on ourselves, instead of relying on the banks and other similar institutions as they only care about themselves and no one else.

It's been the narrative and it seems true also because of the limited BTC supply and the continuous rise of BTC since 2009. While all stocks and currency purchasing power is depreciating, BTC is keeping its value up. That should be a good side to look at.

A person at such an age still trying to learn new kinds of assets is quite not what boomers do.
It's like he hasn't heard of Buffet or Schiff so I'm wondering who introduced him to BTC.

The reality is that due to high inflation there are so many things that younger generation today can't have that older generation had. Back in my fathers time if you had college degree you could get a comfortable job that can pay for a house and a car every 5 years, that was the reality. Imagine how much money you would have to make per year in order to buy a house with 10 year mortgage and renew your car every 5 years in today's world. People are having trouble surviving let alone buy those things and those are the big costs, we still have surviving issue these days let alone any of those things. So all in all do not compare yourself with people who started working even before you were born, its not going to be fair. Compare yourself to people at around your age, however old you are, compare yourself to people who are 5 years younger and 5 years older, that would be the generation you need to look at and if you are dine "fine" there, then its ok. You don't have to be best there, you don't have to be the greatest, you just need to be fine enough and that's all you need to care about. If you are fine, then you will live a life that is fine and no need to feel sorry about that. If you end up chasing what can't be done anymore, you will lose the single life you have and you will regret not living it.

I don't know why people are correlating inflation with bitcoin. To make it and sound to them that and think that Bitcoin is the only super man to remove inflation in the international area is a wrong perception. I don't know whether they don't understand the conceptual and the fundamental meaning of bitcoin.

 Bitcoin can even cause inflation in the world, yes because of the demand is high then price will also increase. Which goods and service wi also follow suit. You people should segregate inflation and Bitcoin whenever bitcoin discussion is mentioned .