Topic: TOPIC: Pros and Cons of saving fiat versus saving Bitcoin in this current econom (Read 304 times)

Banks are the main reason why crypto became a big thing. If banks did their job well enough then there wouldn't have been a need for something like this to begin with. Obviously, it is not going to be an easy ask, because bitcoin making more profit than what interest rates give you is not a given thing quickly, you need to be able to wait for it.

Think about all the people who bought above 60k+, those people are still waiting for something to happen, and would have preferred interest in a bank. But if they wait, I am sure that they will make more profit eventually but that will take some time and maybe even over a year now as well meaning they would have to wait nearly 2 years to get that higher profit.

Given this current state of economy here in our country, I can say that it's not really a wise move to just save your money in banks. Specifically speaking, the traditional ones. Because the inflation rate in our country is getting higher and higher as time passes by. If someone will just rely on the banks for saving and its interest, they'll just be disappointed. Since inflation rate keeps increasing and not a bit decreasing, the interest is pretty much lower compared to the tax imposed.

This will left you a fund in your account that barely earned an interest. An interest that will not even gonna pay for one transportation fee. And mind you, that interest is already good for a year. You need to have millions in your account so that the interest would be felt and noticeable.

I notice this too but we can’t blame them because we are on Bitcointalk forum and most of the users here hated fiat that’s why they are using Bitcoin and landed here. For me, they indeed have their advantage and disadvantage and we should not compare these two subject because it has a different mechanism. Fiat is solely classified as currency while Bitcoin has a wide range of classification.

Never save the money you earned in fiat form because the value of fiat currency keep decreasing so about saving Bitcoin is the better choice

but from acceptance perspective fiat is more preferred even in 2022 but in digital format as we know it may change when people think the central authority of monetary system is not good then bitcoin will get more priority as medium of exchange and by that time we see more and more stores with sign boards of bitcoin only accepted here.

I don't know why you're seems like attacking fiat over Bitcoin advantages, but you're forget you're still using fiat to pay daily expenses and most of your money is still on fiat money. The reason is you're worried if Bitcoin in bear season, you would suffer a losses if you're sold it.

Don't need to compare between fiat and money, each of those currency can work with each other depends on each advantages and disadvantages.

4 As the current world change has been from the traditional mode of exchange to electronic mode(digital mode). Bitcoin has an upper hand, as it is purely digital.

It is however noteworthy to examine these pros and cons of saving fiat versus that of saving with crypto in this period, to be ready for uncertainties.
Knowing what you now know, would you rather save fiat more or save in Bitcoins more?

Never save the money you earned in fiat form because the value of fiat currency keep decreasing so about saving Bitcoin is the better choice but from acceptance perspective fiat is more preferred even in 2022 but in digital format as we know it may change when people think the central authority of monetary system is not good then bitcoin will get more priority as medium of exchange and by that time we see more and more stores with sign boards of bitcoin only accepted here.

Knowing what you now know, would you rather save fiat more or save in Bitcoins more?

Having known that fiat money is a type of currency, a bill of exchange, a negotiable instrument, otherwise known as paper money or dollar bill used to purchase or pay for products or services that ensures our comfort, it is rather debatable whether saving fiat in the bank, at home or in bitcoins, is a good idea.

Bitcoin, however, is a digital currency. It utilizes a computer network as a medium of exchange that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Let us, therefore, consider some of these pros and cons to see the light:

1 Bitcoin is secured by blockchain technology, thereby making it difficult to counterfeit or toy with.

2 Bitcoin hardly has a physical structure to speak its value unlike that inherent for fiat money. It operates on a decentralized infrastructure that makes direct money transfers quick, traceable, transparent, and immutable.

3 The number of parties involved is technically only two for bitcoin, unlike fiat where third parties must be present.

4 As the current world change has been from the traditional mode of exchange to electronic mode(digital mode). Bitcoin has an upper hand, as it is purely digital.

5 Bitcoin has in recent times proven to be a strong alternative to fiat money, thereby making it a unitarian global currency.

6 Bitcoin and many cryptocurrencies have just a finite number of the same available.

7 Bitcoin ensures ease to do business with both local and international parties that involve huge amounts of cash, without having to incur heavy charges considering the volatility of the exchange rate, unlike fiat money.

The pandemic shook the economy and exposed flaws in both personal and public systems of commerce. Recession became an aftereffect after the World pandemic and the ongoing war between Russia and Ukraine has added to this quotient. It is however noteworthy to examine these pros and cons of saving fiat versus that of saving with crypto in this period, to be ready for uncertainties.
Knowing what you now know, would you rather save fiat more or save in Bitcoins more?

Having known that fiat money is a type of currency, a bill of exchange, a negotiable instrument, otherwise known as paper money or dollar bill used to purchase or pay for products or services that ensures our comfort, it is rather debatable whether saving fiat in the bank, at home or in bitcoins, is a good idea.

Bitcoin, however, is a digital currency. It utilizes a computer network as a medium of exchange that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Let us, therefore, consider some of these pros and cons to see the light:

1 Bitcoin is secured by blockchain technology, thereby making it difficult to counterfeit or toy with.

2 Bitcoin hardly has a physical structure to speak its value unlike that inherent for fiat money. It operates on a decentralized infrastructure that makes direct money transfers quick, traceable, transparent, and immutable.

3 The number of parties involved is technically only two for bitcoin, unlike fiat where third parties must be present.

4 As the current world change has been from the traditional mode of exchange to electronic mode(digital mode). Bitcoin has an upper hand, as it is purely digital.

5 Bitcoin has in recent times proven to be a strong alternative to fiat money, thereby making it a unitarian global currency.

6 Bitcoin and many cryptocurrencies have just a finite number of the same available.

7 Bitcoin ensures ease to do business with both local and international parties that involve huge amounts of cash, without having to incur heavy charges considering the volatility of the exchange rate, unlike fiat money.

The pandemic shook the economy and exposed flaws in both personal and public systems of commerce. Recession became an aftereffect after the World pandemic and the ongoing war between Russia and Ukraine has added to this quotient. It is however noteworthy to examine these pros and cons of saving fiat versus that of saving with crypto in this period, to be ready for uncertainties.
Knowing what you now know, would you rather save fiat more or save in Bitcoins more?

I do not know how this sentence can be true, as the Bitcoin propagation globally is still in the beginning stage and it is impossible to compare it with the prophecy of paper money that has hundreds and perhaps thousands of years.

In general, Bitcoin is an idea and carries a high risk, so if you want to invest, you must understand all the risks before you deposit your money and invest wisely and not recklessly.

Never save the money you earned in fiat form because the value of fiat currency keep decreasing so about saving Bitcoin is the better choice...

I am doing both, there are rumors of war and an existing one plus all of those health emergencies and that's why I'll be saving cash as well. At the same time, I still have my bitcoins on hold because of my future plans and I believe that this is going to be really profitable more than I've seen it in the past. Despite I'm already in profit, I'm not going to remove that hope of earning more. I'm not that greedy at all but that's part of my investing plan.

7 Bitcoin ensures ease to do business with both local and international parties that involve huge amounts of cash, without having to incur heavy charges considering the volatility of the exchange rate, unlike fiat money.