Topic: Traditional savings enslaved our parents fund. (Read 83 times)
It will be wrong to use the term enslaved, our parents actually lived the best life despite how poorly we think their investment choice was. Bitcoin and digital currency are now our own present investment anyone could get involved into unlike before when it was more of purchasing lands, golds and oil as a means of investment. They actually made good profits same way we are making from Bitcoin but in years coming the system might be modified that our own style will be considered inferior.
I don't think it is true because at their time that was the only option to accumulate,and don't forget, they lend that money ,which in returns come with an interest Was Bitcoin available then ,if yes we're they aware or knowledgeable about Bitcoin? I don't think anyone with the idea and understanding will still be involved in traditional saving, if not Bitcoin and any other reliable cryptocurrency,i don't think any saving is necessary for one to be involved because there are a lot of scams out there,even the banks interest are little or none.
We all agree that knowledge is power and that it gives us freedom from being enslaved to our past ignorant lifestyle and that there had been things we once took seriously in the past that looking at it now you can just beat your chaste and laugh at your level of ignorance.
True, the good thing is that information depreciates with time, fashion and technological advancements. Funny enough, the information you've today will be obsolete in the near future as there are tendencies that things will be done differently to match the future demands.Quote
Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
Your knowledge of bitcoin is incomplete if you use funds that you'll be needing in a short while to invest in the precious coin. Bitcoin investment is for a long term and isn't supposed to replace such contributions.Those contributions aren't obsolete even as at now, our mothers then were wise enough to find a means of gathering funds in bits, these funds wouldn't have been gathered properly to solve the supposed needs if its in sight and there's this saying that out of sight is out of mind. So they gather it in bits until its enough for the solve bigger needs within the shortest periods necessary.
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There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
Its not enslaving, its actually saving. I get your point of trying to promote bitcoin investment through DCA and other valid means, but you're missing a point here. Bitcoin investment isn't supposed to be a short term investment, you get good profits when you're able to hold for a much longer time. These pattern of savings you mentioned are for short terms and aren't related to proper bitcoin investment. You don't invest in bitcoin with funds you'll be needing in a short while. Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose
Am glad you said at the time, that was the best way. That is to tell you that in life we have different generation and there mode of doing things so you won't blame them for ignorant because that was the best way then and it was working for them . At then, there where no inflation and deflation. The world was natural there where no much greed like now. they where contented, not like nowadays. but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
You should know that not everyone that will like to invest on bitcoin, no matter how profitable it might be. Illiteracy might not be the option of not participating in DCA. What about most of our youth that are educated and might have been awear of Bitcoin Investment yet they dont take it seriously? Another thing is that the weekly money saved in boxes according to you might be too small to buy btc since btc keep increasing so does it minimum deposit amounts is also increasing for example minimum deposit of btc @ $0.0001 when btc price was $36k may be less than $5 but as btc price has increased to $69-70k the minimum is now above $5 and in fiat it has changed. So you can't tell a woman whom save #1000 or #2000 every week to come and buy bitcoin every week where her 1month saving in the box can't even afford the minimum deposit in a wallet.
There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
In as much as the universe is concerned everybody can not follow thesame direction. And don't see those who didn't invest in btc as they have mised it all. Some may be doing well in what they are doing and may invest in other volatile asset. So it is not a must, but a matter choice. 
Saving for the future is actually not a bad thing, but their is one enemy to any money being saved up, which is inflation, though during the days of our fathers, inflations was not at it peak then, inflation can hardly eat 5% of their money saved, but in today's society, a money saved from the beginning of the year to December might lose up to 15% to inflation if not more.
So it's best that in our today's society, it's best we save in anything that appreciate in value overtime, something like Bitcoin, gold, diamond and land, in that way, you don't just preserve your money, you also secure your future by acquiring assets.
So it's best that in our today's society, it's best we save in anything that appreciate in value overtime, something like Bitcoin, gold, diamond and land, in that way, you don't just preserve your money, you also secure your future by acquiring assets.
This is why I still find investments in Cryptocurrencies and Stablecoins as some of the best alternatives to the traditional savings at this seemingly unstable economic crisis around the world especially for someone coming from a country with poor financial and economic growth over this few years.
Africa is still battling with trying to have a control over there domestic and foreign markets especially it's currencies value so whenever there's tilt in the global market trend, it easily affects African countries more than any other because majority of its markets are premature and are consumption markets instead of production markets. Hence, the reason for the unstable market and inflation
We all agree that knowledge is power and that it gives us freedom from being enslaved to our past ignorant lifestyle and that there had been things we once took seriously in the past that looking at it now you can just beat your chaste and laugh at your level of ignorance.
Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
There had been cases when the box for the storage of the money even gets stolen and sometimes fight might even break out while sharing the money which should all have been avoided through the block chain technology and the decentralized nature of Bitcoin that doesn't give a particular person access to your saved fund. And the sad thing is that at the end of the one year interval, your money remains as it is with no profit at all and those that even use the saved money for loan purposes just so they can get small profits are faced with lots of issues regarding pay backs and other challenges.
There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
There had been cases when the box for the storage of the money even gets stolen and sometimes fight might even break out while sharing the money which should all have been avoided through the block chain technology and the decentralized nature of Bitcoin that doesn't give a particular person access to your saved fund. And the sad thing is that at the end of the one year interval, your money remains as it is with no profit at all and those that even use the saved money for loan purposes just so they can get small profits are faced with lots of issues regarding pay backs and other challenges.
There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
Saving for the future is actually not a bad thing, but their is one enemy to any money being saved up, which is inflation, though during the days of our fathers, inflations was not at it peak then, inflation can hardly eat 5% of their money saved, but in today's society, a money saved from the beginning of the year to December might lose up to 15% to inflation if not more.
So it's best that in our today's society, it's best we save in anything that appreciate in value overtime, something like Bitcoin, gold, diamond and land, in that way, you don't just preserve your money, you also secure your future by acquiring assets.
We all agree that knowledge is power and that it gives us freedom from being enslaved to our past ignorant lifestyle and that there had been things we once took seriously in the past that looking at it now you can just beat your chaste and laugh at your level of ignorance.
Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
There had been cases when the box for the storage of the money even gets stolen and sometimes fight might even break out while sharing the money which should all have been avoided through the block chain technology and the decentralized nature of Bitcoin that doesn't give a particular person access to your saved fund. And the sad thing is that at the end of the one year interval, your money remains as it is with no profit at all and those that even use the saved money for loan purposes just so they can get small profits are faced with lots of issues regarding pay backs and other challenges.
There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
Most of us can relate to our parents doing weekly meetings during which they regularly deposit a set amount in a box and do it week by week until the end of the year when the money would be gathered and shared amongst them. To the best of there knowledge and due to what was predominant at the time, that was the best way to preserve there earnings for future purpose but from our current knowledge on bitcoin and what we've come to know about accumulating Bitcoin using the DCA methord, buying Bitcoin on a weekly bases would have been the best decision they should have taken but ignorant and lack of exposure would make them enslave thier funds in a box.
There had been cases when the box for the storage of the money even gets stolen and sometimes fight might even break out while sharing the money which should all have been avoided through the block chain technology and the decentralized nature of Bitcoin that doesn't give a particular person access to your saved fund. And the sad thing is that at the end of the one year interval, your money remains as it is with no profit at all and those that even use the saved money for loan purposes just so they can get small profits are faced with lots of issues regarding pay backs and other challenges.
There are so many individuals at the moment that are still tied down to this system of enslaving their money all in the name of saving. All thanks to growth and knowledge that has liberated some of us.
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