Topic: Keeping money and keeping bitcoins? are they similar? - page 12. (Read 2318 times)
Because I am good at saving money and holding it for a long period of time without spending a penny on it, does not guarantee I will also be good at saving when it comes to Bitcoin, because the value of my local currency which I am saving will always remain the same in my locality, unless on the international market that I might experience little to know the difference in change. But when it comes to bitcoin saving/Hodling it requires determination, just imagine buying Bitcoin told @23k$ and you plan to hold it for about 4 years, and waking up the next morning and you happen to check your wallet and your yesterday's Bitcoin which was valued at 23k$ is now worth 30-40k$, will you still hold on to it or not? , and if it happens that you overcome the temptation that very moment after some days you started seeing the price dropping at a very high speed what will you do? what will first come to ones mind is to sell at that point and buy back later when the price goes below the average, and most times after selling off your holding the price gain back by 10-30% which will make buying back a very difficult situation for you since you can no longer get the same amount at the old price, then at the end of the day u realize that you have sold out your holding which you never planned for.
There is some correlation between good saving habits and being successful at holding onto bitcoins, but it's not a direct link. People who are disciplined with their finances and have experience saving money tend to have a better understanding of how to manage their resources, including their digital assets. However, holding bitcoins requires understanding the specific risks and rewards of the cryptocurrency market, which may not be related to one's savings habits.
Basically the same but saving in bitcoin is more oriented to investment or to take capital gains just like stocks, in the system but like most people bitcoin has quite extreme volatility even though basically the same bitcoin and fiat are currencies but in my opinion it depends on the person looking at it for that matter.
In my opinion, goals and expectations are definitely different in saving in bitcoin and fiat currency, but if the goal is to finance old age it is better in bitcoin because as we know bitcoin will provide wealth to those who hold it in the long term.
In my opinion, goals and expectations are definitely different in saving in bitcoin and fiat currency, but if the goal is to finance old age it is better in bitcoin because as we know bitcoin will provide wealth to those who hold it in the long term.
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The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
That's clear to say these two are not similar at all, by holding fiat money you are actually putting yourself in danger of losing the value of your hard-handed money because of inflation because the 100 dollars of money you invest in the bank won't be worth 100 dollars anymore even after a few months depending on the country you live and inflation rate on the country, while by inventing on bitcoin even if the fiat loses it value you still have your money and you can have the chance of getting more after exchanging back to fiat in long term. While the one bitcoin you bought is still one bitcoin.
Both have pros and cons, if you talked about the cons of money, which is the loss of value caused by inflation, then you also need to talk about the volatility of bitcoin, bitcoin is not only profitable but also It is very risky to invest in it.
In short, both are good and necessary for our life, money needed for daily transactions and savings for emergency work. While bitcoin serves as a store of wealth, a scheme to increase wealth for the future.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
They are the same in terms of the word "Saving" but the volatility here is different, because of the money, how much money you put aside is that and it cannot be changed.
In addition to this, bitcoin does not have a fixed amount of value, because bitcoin is volatile, there are high chances that its value will decrease or increase in seconds, minutes, hours and days depending on market demand.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
The similarity is both need good management to keep them safe. If you keep money in a careless way, you probably lose the money. For example, if you keep money in a place where you probably forget it, you may difficult to find it in the future or you may lose it forever. It is the same as you keeping Bitcoin, you need to keep the Bitcoin in the right place. If you keep your Bitcoin in a CEX (Centralized Exchange) or you keep it in an untrusted wallet, you may lose it when there is a problem with the CEX or the wallet. Always keep your Bitcoin in trusted wallets, for example in Segwit wallet or in trusted hardware wallets.However, keeping money and keeping Bitcoin is different.
When you keep your money, it means saving. You commonly keep fiats to have reserved money. But the value won't change, it is always the same.
But, when you keep Bitcoin, it means an investment. The value of Bitcoin increased gradually, you will get profits in the future. If you keep it in a proper way and you know how the scheme of Bitcoin price increases, you should multiply the value.
conceptually very different. if you save your money in a bank, in terms of security it is the main reason why many people choose to save in a bank, the bank has a layered security system. Another advantage is that you also have access and freedom to make transactions. So, it's very easy to get many transaction options. Not only that, convenience is increasingly felt in today's digitalization era take advantage of mobile banking or internet banking. Whenever needed, you can withdraw money from your savings without significantly reducing it. Maybe less save money in the bank the value or nominal value of Savings at Banks Difficult to Develop and There are limitations such as daily cash withdrawals at ATMs or certain payments and purchases.
Unlike Bitcoin, Bitcoin is not controlled by any country. Bitcoin is an investment in nature, its price fluctuation can go up and down, for example we need money and the price is not friendly, that's what makes us lose financially, but if we save it for the long term, it can be a tremendous advantage. profit
Unlike Bitcoin, Bitcoin is not controlled by any country. Bitcoin is an investment in nature, its price fluctuation can go up and down, for example we need money and the price is not friendly, that's what makes us lose financially, but if we save it for the long term, it can be a tremendous advantage. profit
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Keeping money and keeping bitcoin are not the same thing. With money, even a dime cannot be added to over a year, and at the end of the term, you will have it exactly as you kept it—not that you put it into a business, just kept it. But with bitcoin, you can keep it for a long time and still make a lot of money—you might even have double what you invested. That is how they are comparable.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Hmmm if you are not m that sure to invest maybe try a little bit, if i will be the one in your case instead of waiting for more pump days and bulll days I will take some portion to my bitcoin and will invest it. It is not bad to take some risk, doing nothing is actually a risk as well. We should be used on a kind of market that we have a we need to get used to the behavior of the market. 
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Though bitcoin and fiat are different, but the practice of saving fiat and saving bitcoin is just the same. You would not be successful saving bitcoin if you are not used to saving money in the first place, so that creates more positive outcome if you yourself knows how to keep your money properly in the long run. If you can be good in saving money, then most likely you’ll also turn to be a keeper of bitcoin for good. 
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
That's clear to say these two are not similar at all, by holding fiat money you are actually putting yourself in danger of losing the value of your hard-handed money because of inflation because the 100 dollars of money you invest in the bank won't be worth 100 dollars anymore even after a few months depending on the country you live and inflation rate on the country, while by inventing on bitcoin even if the fiat loses it value you still have your money and you can have the chance of getting more after exchanging back to fiat in long term. While the one bitcoin you bought is still one bitcoin.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
I think that these are completely different concepts.For a simple example, for example,I spend money more often than I save for savings,but I don't touch my cryptocurrency reserves for a long time,I trade part of it, but part of it lies idle and waits for better times.When the price suits me, then I will sell.cryptocurrency is my contribution to the future and my savings for many years to come. 
This may be a correct judgment, because if a person knows how to save money, then he will be able to apply this skill to bitcoin as well. And even more so it will make it much more interesting with bitcoin, because when we save money, inflation eats it up over time, and bitcoin is protected from this. Moreover, bitcoin will rise in price and make a profit, which will be much more interesting.
But here many other questions arise, when to buy, when to sell. This will require certain knowledge.
But here many other questions arise, when to buy, when to sell. This will require certain knowledge.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
I think it will be different because they are 2 completely different asset classes. The value of fiat does not volatile, so it will be simpler to hold them, whereas bitcoin is a very volatile asset, so holding it will become more difficult and require a lot of patience, as well as controlling fear can hold bitcoin. It can be said that bitcoin is not for everyone, only those who like to take risks and take risks can invest and hold bitcoins, but saving money anyone can do it.
Of course it's different, the movement of bitcoin which is like a roller coaster makes us have to be vigilant and don't use all the money for bitcoin, many people are stressed because selling assets to buy bitcoin and the prediction of profit turns out to be different, the best advice is to save bitcoin with not a large amount so we don't panic if the bear market occurs again.
You want to advise many people not to panic and not feel stressed when market conditions change for the worse. Actually this is a good suggestion, because to be more precise, everyone should be able to share their finances into a number of ways, including investing in Bitcoin besides having to save it to live a normal life. So this thing is about how to manage finances and distribute them in a structured way. The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
The principle is the same, namely the goal is to accumulate money or wealth in the long term, but this is of course different because when we save fiat it cannot be said to be an investment because there will be no profit that will be obtained in the future, it will actually eliminate the exchange rate of money in the future because it is eaten by inflation, while saving bitcoin, of course, provides benefits in the long run because the exchange rate continues to rise as we have seen from the introduction of satoshi to the world until now.
Indirectly that this is different even though the principle is the same, namely saving.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
For me, the only thing that I believe stops people from keeping or HODLing their Bitcoin is not having financial sustenance for other things you have to do in your daily livelihood just like the same applies to keeping money in your bank account. If you have the financial means to take care of other means then the need to sell your BTC wouldn't arise just like the need to withdraw your fiat savings wouldn't arise. 
Bitocoin and what you call "money" are quite different. Fiduciary -fiat money can be printed at leisure by central banks whereas bitcoin has a limited and know supply. That is the major difference in economic terms, but there are other questions like embargoes, account freezing, etc... that are also quite important for many people who think bitcoin is superior.
The massive awareness to keep bitcoins for as long as possible promotes people to develop the attitude of saving, just like saving money. Do you agree with this that people who are very good at saving money become very good at keeping bitcoins when they finally start doing cryptocurrency? Or do you feel that there is no similarity between keeping bitcoins and keeping money?
Fiat and cryptocurrency is very different. Storing fiat doesn't have any risk like volatility, but I don't want to store fiat in the first place because it doesn't have volatility unlike Bitcoin. But for a newbie, maybe he will have a hard time at first when he invested in cryptocurrency because it requires basic knowledge to know what you'll do in certain situations. The only thing I want about Bitcoin is I am sure that in the long run, it'll give me high profits that I couldn't find in fiat.
Storing your fiat in your home means you will make no profit because it will devalue over time, also storing it in a bank you will make a small profit over time, and the risk is very low. If you hold bitcoin, there is a risk, as it is now called an investment, but you will gain profit over time and it is bigger than storing your fiat in bank, but that doesn't mean that it is easy to get that profit. You will lose also, but this is good for risk-taking people compared to playing it safe, like storing money in a piggy bank or your local bank.
Fiat and cryptocurrency is very different. Storing fiat doesn't have any risk like volatility, but I don't want to store fiat in the first place because it doesn't have volatility unlike Bitcoin. But for a newbie, maybe he will have a hard time at first when he invested in cryptocurrency because it requires basic knowledge to know what you'll do in certain situations. The only thing I want about Bitcoin is I am sure that in the long run, it'll give me high profits that I couldn't find in fiat.
There is lost in just keeping our money in fiat or in bank, as inflation increases our money saves might still be the same in number but no longer in value once we use them in purchasing. If we're not into crypto then it can be better to invest in stock market or properties. Use only fiat for emergency savings and daily transactions. Jump to: