Saving: If not Bitcoin Wallet then House for Fiat. - page 2.

ven7net

full member

Activity: 1946

Merit: 112

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

Keeping your money in the bitcoin wallet is the best way to safe guard your money in this contemporary capitalists technological (digital) economic system because if you keep your money in the Fiat e-banking system, the total capital which you have deposited to the bank account will not be in the same amount when going to withdraw in again. In some countries the withdrawal is limited to specific amount which you can't exceed to that amount. But in BTC wallet, any amount can be moved out. And the money in the BTC wallet is very accurately safe without missing any figure or decimals points.

Fiat banks are frustrating people in their various countries. But BTC in the wallet safe even in the bear market and the bull market. The only disadvantage of keeping money in the Bitcoin Wallet is the time of purchase and the time of sale. If you buy in the bull and sell in the bear. But if you can endure the bear and enter the bull market again. Then you sell.

If you have enough Fiat currency I will advise you to keep it at home, if you don't want to invest in BTC because Banks will frustrate you by cutting your money every week, every month without even doing any transactions. The bank customers complains every day. We are tired of the complains.

Keep your Fiat at Home if not BTC

A good recommendation, especially now there is also a big inflation that simply devalues fiat money. Of course, keeping money in banks is very dangerous now, as the financial system in the world is experiencing problems, which means that something bad can happen at any moment. As for me, if you have money, then you need to properly distribute it, and in this case, keeping part of the money at home and in BTC is a very good choice for this.

PrivacyG

hero member

Activity: 882

Merit: 1873

Crypto Swap Exchange

Quote from: BlackHatCoiner on December 28, 2022, 01:28:28 PM

I doubt the 9 to 5 job has anything to do with this. Average bank account owners just don't care about their financial privacy, that's all.

I believe it does. The typical day for most of my friends is like this. Wake up, get ready for work, work, go home and cook, wipe off the dust or vacuum the carpet, entertain yourself for 30 min to an hour and sleep. Their mind is so busy with all of this they have no more time left to think about stuff like whether the Bank ever maliciously or abusively requests their customers privacy invading procedures or not.

I have more time than them. So I get to think about even the smaller details and find solutions to problems they can not even see out of stress.

-
Regards,
PrivacyG

Zaguru12

hero member

Activity: 868

Merit: 952

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

Fiat banks are frustrating people in their various countries. But BTC in the wallet safe even in the bear market and the bull market. The only disadvantage of keeping money in the Bitcoin Wallet is the time of purchase and the time of sale. If you buy in the bull and sell in the bear. But if you can endure the bear and enter the bull market again. Then you sell.
Keep your Fiat at Home if not BTC

The best way to enjoy or been comfortable at saving in bitcoin is to able to hold till the right time and this can be easily done with some funds in fiat for emergencies.
Although banks are frustrating but it is a bad idea to stach one's money at home. Aside its Vulnerability to theft and damages, in some countries it is a very bad idea to keep lots of money at home you will end having government on your tail. Also cashes at home or at hand are easy to spend than in banks.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Quote from: so98nn on December 28, 2022, 12:06:39 PM

I don’t have cash at my home and neither I will keep any of it handy. The thing is since the day they have integrated UPI method in our country even the smallest digit fiat can be transacted over it which means there no need of bearing cash on us. You can simply transact digitally without any delay.

That is simply not true for the merchant's side. A regular credit or debit card transaction takes months to confirm. You can just call the credit card firm and have it reversed. A PayPal transaction is even worse; it can be reversed within the next 6 months after it's made.

Quote from: drwhobox on December 28, 2022, 11:40:31 AM

Keeping fiat at home will cause many troubles. If the house burns along with the house the money is also lost.

Then take care of it. It's your responsibility in the end.

Quote from: PrivacyG on December 28, 2022, 01:19:14 PM

Doubt it. Average Bank account owner works a 9 to 5 job and has about zero time to even contemplate caring about their Privacy.

I doubt the 9 to 5 job has anything to do with this. Average bank account owners just don't care about their financial privacy, that's all.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: drwhobox on December 28, 2022, 11:40:31 AM

I don't know about Europe but some countries banks give a small amount of commission every month to keep fiat in their bank.

They do. But in my country only in the last few months the commission has became meaningful. Until then the fees were bigger than the earned commission (of course, that's for normal people keeping there amounts of max 4-5 figures).
However, the currently bigger commission is caused by the rise of inflation and the percent of that commission is smaller than the real inflation. So Bitcoin should be a better choice, since I expect that sooner or later a bull run will start.

PrivacyG

hero member

Activity: 882

Merit: 1873

Crypto Swap Exchange

Quote from: Plaguedeath on December 28, 2022, 08:36:45 AM

Well I don't think most people who avoid to use banks are due to monthly fee, but it mostly because they're very curious and ruin everyone privacy especially when they're ask "where the funds came from?".

Doubt it. Average Bank account owner works a 9 to 5 job and has about zero time to even contemplate caring about their Privacy.

-----

I hate Banks. I despise them. I would store a million bucks at home with no second thoughts if I had to pick between my home and a Bank. Because if I had a million bucks, spending a small portion of it to secure it makes more sense to me than keeping my money in some body else's pocket.

But then of course if I had a million bucks I would not store it in Fiat anyway. I rather choose Bitcoin instead. And if I do, I would still store it all in my own home too. I like being entirely independent. To trust nobody other than me. After all, we are on a forum about a trust less Cryptocurrency. That is what I like!

-
Regards,
PrivacyG

The Cryptovator

legendary

Activity: 2394

Merit: 2223

Signature space for rent

Though we absolutely despise the fiat banking system, we love Bitcoin and are forced to use it. I despise putting money in a bank because it is lazy money that will not provide you with anything. If you want to take a risk, buy Bitcoin; otherwise, find a safe fiat investment option. Holding fiat is pointless; you must take risks if you want your money to work for you. As a crypto enthusiast, I believe you should take a risk by purchasing Bitcoin during a dip.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

For sure there are various types of investments. So if you have the money to do so, you are free ro choose qhich one would work on your end. Putting your money at home would also put it to risk of not being able to use its maximum value. For instance is inflation. The things you could buy in a $100 bill was more before than to what it could at the present. Putting it into this industry will open a new risk concerning volatile market price. So I guess it is a matter of choosing your own poison or medicine.

Quote from: drwhobox on December 28, 2022, 11:40:31 AM

Quote from: NeuroticFish on December 28, 2022, 08:01:14 AM

This is an awfully bad idea. Keeping fiat money at home makes it easy to be stolen by thieves. Keeping fiat money at home means that if the home burns down the money is also gone. Even more, at least in Europe, fiat kept in banks is "insured by the state/government" until a limit of 100k/person/bank.

Keeping fiat at home will cause many troubles. If the house burns along with the house the money is also lost. Cockroaches like cash, if fiat is locked for a long time cockroaches will feed on them. And holding a lot of cash in a house can also be a reason for robbery.

I don't know about Europe but some countries banks give a small amount of commission every month to keep fiat in their bank.

I'd agree with physical risks with regards of just storing it at home. It could be prone to attacks from mouse, cockroaches and such which could cause a downside to those people who managed to be patient deslte of the negative market situation

so98nn

hero member

Activity: 2114

Merit: 603

I don’t have cash at my home and neither I will keep any of it handy. The thing is since the day they have integrated UPI method in our country even the smallest digit fiat can be transacted over it which means there no need of bearing cash on us. You can simply transact digitally without any delay.

All the real time gross settlements are done within seconds so whose gonna have cash on them anyways?

Moreover, investing into bitcoin is entirely different thing. A person can choose to hodl or not is up to them.

Cantsay

hero member

Activity: 700

Merit: 541

Bitcoin Casino Est. 2013

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

The only disadvantage of keeping money in the Bitcoin Wallet is the time of purchase and the time of sale. If you buy in the bull and sell in the bear. But if you can endure the bear and enter the bull market again. Then you sell.

and with the way things are now you can't possibly tell when that's going to be. For everything that has advantages there surely will also be disadvantages as well. it's a great idea to buy some bitcoin most especially in the bear market but if you advice people to just throw all their money into bitcoin isn't that wise if you ask me and also not everyone has what it takes to survive the bear market after investing a ton of money in bitcoin.

drwhobox

full member

Activity: 756

Merit: 133

- hello doctor who box

Quote from: NeuroticFish on December 28, 2022, 08:01:14 AM

This is an awfully bad idea. Keeping fiat money at home makes it easy to be stolen by thieves. Keeping fiat money at home means that if the home burns down the money is also gone. Even more, at least in Europe, fiat kept in banks is "insured by the state/government" until a limit of 100k/person/bank.

Keeping fiat at home will cause many troubles. If the house burns along with the house the money is also lost. Cockroaches like cash, if fiat is locked for a long time cockroaches will feed on them. And holding a lot of cash in a house can also be a reason for robbery.

I don't know about Europe but some countries banks give a small amount of commission every month to keep fiat in their bank.

inthelongrun

hero member

Activity: 1862

Merit: 601

The Martian Child

No offense. But I am really doubtful someone will listen to a newbie's advice unless it is something very convincing. I agree that keeping bitcoin in a non-custodial wallet is the safest way to keep it. But with regard to other types of investments, it's not bad after all to diversify your assets. Why keep your fiat at home when obviously it will be eaten by inflation? And it is the worst way to keep a high amount of money at home. Possible fires, robberies, and all the other possible risks. At least in the banks, fiat is insured up to a certain amount and there's very little interest at least. It is very common if we listen to financial advisors and those rich people on top that we need to invest our money in order to grow or at least fight inflation.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

Keep your Fiat at Home if not BTC

Absolutely looser idea! We all love bitcoin here but that doesn't mean we will become negative toward the banking system! There's no need of doing that! Fiat money will anywhichways lose its value over time. But if we keep that in bank, at least some values will be filled in through the interest. The loss will be less if we keep the fiat in the banking system. It's a bad proposal to keep fiat at home.

If you don't like banking system, invest that money into stocks, mutual funds, businesses, and whatnot! Why to keep idle money at home? What's the use of it? We will get zero return and the value will decrease over time. With the banking system, you will get whatever return which will help you to cut down the losses. That's an acceptable situation.

Doan9269

hero member

Activity: 812

Merit: 560

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

Keeping your money in the bitcoin wallet is the best way to safe guard your money in this contemporary capitalists technological (digital) economic system

Then we must also ask ourselves of which type of wallet to we choose as a means to keeping our financial assets, some choose the centralized means while others decentralized, but any wallet that does not give you full access to your asset is not good enough because they have the keys in their custody and not you, thereby been vulnerable as well for an attack by hackers or other illicit fraudulent activities, making it not your keys not your coins.

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

because if you keep your money in the Fiat e-banking system, the total capital which you have deposited to the bank account will not be in the same amount when going to withdraw in again

There's huge similarities in using a centralized exchange for your bitcoin and that of fiat banks and it's currency, they are under central authority and are subjected to law enforcement by the governing bodies over your finances, your asset will not yield profit by any chance than loosing value over time while exchange charge and can take away all your asset if under attack without any means to recovery.

Edwardard

hero member

Activity: 1050

Merit: 681

Quote from: DiMarxist on December 28, 2022, 09:47:10 AM

What is the meaning of ROI

ROI stands for Return on Investment.
ROI is expressed as a percentage usually and is calculated by dividing an investment's net profit (or loss) by its initial cost or outlay.
Additionally, it is a popular profitability metric used to evaluate how well an investment has performed.

DiMarxist

sr. member

Activity: 448

Merit: 264

Quote from: BlackBoss_ on December 28, 2022, 09:13:36 AM

Fiat is not investment.
Bitcoin is investment as well as gold, S&P500. It is not a controversial discussion. It's a fact from history.

The table for Bitcoin & Traditional Assets ROI (vs USD) shows Bitcoin is a best investment if you invest in it a few years.

Hey folk!!
Boss man if I understand what you are saying that will be a lie. I don't understand the point you're trying to portray here to me. What is the meaning of ROI and S&P? Please use a simple analogy to make me understand. I know that bitcoin is Investment and Fiat is not a business but I was trying to differentiate the different ways which fund can be save. Yo, it is not a controversial discussion but you have make one.

retreat

sr. member

Activity: 1106

Merit: 391

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

Keeping your money in the bitcoin wallet is the best way to safe guard your money in this contemporary capitalists technological (digital) economic system because if you keep your money in the Fiat e-banking system, the total capital which you have deposited to the bank account will not be in the same amount when going to withdraw in again. In some countries the withdrawal is limited to specific amount which you can't exceed to that amount. But in BTC wallet, any amount can be moved out. And the money in the BTC wallet is very accurately safe without missing any figure or decimals points.

Fiat banks are frustrating people in their various countries. But BTC in the wallet safe even in the bear market and the bull market. The only disadvantage of keeping money in the Bitcoin Wallet is the time of purchase and the time of sale. If you buy in the bull and sell in the bear. But if you can endure the bear and enter the bull market again. Then you sell.

If you have enough Fiat currency I will advise you to keep it at home, if you don't want to invest in BTC because Banks will frustrate you by cutting your money every week, every month without even doing any transactions. The bank customers complains every day. We are tired of the complains.

Keep your Fiat at Home if not BTC

Saving money in the bank is not always bad. Precisely it will help us to be able to store our funds more safely than keeping them at home, because they are more prone to theft, unless you have a secure underground bunker. Moreover, most digital banks nowadays do not charge monthly fees for their users and they even provide interest for their customers and protection directly from the government. This can provide relief to customers. The point is using a bank is not entirely bad, but you shouldn't keep all your money in the bank, save some where you feel safe or you can invest in Bitcoin and watch it grow in the next 5 - 10 years or in stablecoins if you want more stability.

Edwardard

hero member

Activity: 1050

Merit: 681

Quote from: BlackBoss_ on December 28, 2022, 09:13:36 AM

Bitcoin is investment as well as gold, S&P500

S&P500 is an index which tracks top 500 U.S. companies. Generally, you can't really invest in S&P500, but you can in an index fund or ETF.

Quote from: BlackBoss_ on December 28, 2022, 09:13:36 AM

Bitcoin is a best investment if you invest in it a few years.

Depends on the timing too, if someone invested at the 2017 top, they are still in loss today in 2022. When bitcoin was newly introduced, it was moving up fast but as time is passing by we are slowing down on the volatility.

BlackBoss_

sr. member

Activity: 602

Merit: 387

Rollbit is for you. Take $RLB token!

Fiat is not investment.
Bitcoin is investment as well as gold, S&P500. It is not a controversial discussion. It's a fact from history.

The table for Bitcoin & Traditional Assets ROI (vs USD) shows Bitcoin is a best investment if you invest in it a few years.

Plaguedeath

hero member

Activity: 854

Merit: 663

Quote from: DiMarxist on December 28, 2022, 05:15:52 AM

if you don't want to invest in BTC because Banks will frustrate you by cutting your money every week, every month without even doing any transactions. The bank customers complains every day. We are tired of the complains.

Are you work in banks?

Well I don't think most people who avoid to use banks are due to monthly fee, but it mostly because they're very curious and ruin everyone privacy especially when they're ask "where the funds came from?". If your answer doesn't make them satisfy, they will freeze your money and ask for more verification.

Another thing people also don't want to hold fiat for long time due to inflation.

Topic: Saving: If not Bitcoin Wallet then House for Fiat. - page 2. (Read 401 times)