Post
Topic
Board Economics
Re: Are people really having the wrong concept of savings?
by
Minor Miner
on 22/02/2023, 07:37:01 UTC
Saving is something that goes in a place where you can't access it. The reason why most of us end up spending our savings is because we keep them in our bank accounts, which are under our direct access anytime we want.
The best way to save your money is to lock them in your bank (saving accounts) for a specific period. Saving is a habit that must be developed from your childhood and parents have to play there part to teach there kids about this habit.
I really surprised how can someone who hold Bitcoin can say this? are you lend or lock your Bitcoin to centralized platform in order to make you don't have full control over your coins? because you will cashout your Bitcoin if you hold it on your non custodial wallet where you have full control.

You need to take a look with recent FTX bankruptcy, it's the best reason why you shouldn't trust any centralized platform and even it's really popular, there's still a chance your money will gone.

You need to distinguish between investment and savings, I don't see anything wrong when saving at the bank, the bank is also a concentrated but more reliable organization than a concentrated exchange. I'm curious, are you using the bank? You should not talk badly about it while both your parents and the whole family are still using it daily.

If you invest all your assets in Bitcoin and when you had a surprise problem last year when Bitcoin's value dropped 80%, I really want to know how you will handle it.