Quote from: SmartCharpa on March 04, 2024, 04:27:36 PM

Quote from: Stepstowealth on January 25, 2023, 06:03:36 PM

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?

Not at all. Bitcoin and saving money are not the same, in my opinion. The two things are not the same; even if we save money for a year, we will still see the exact amount we have saved without any increase. Sometimes, we can even touch the money we save by saying, "It's just a savings; we can make another money to replace it and use it for other problems. However, the price of the assets we hold could rise or fall, but since we can store bitcoin for more than a year, there is more risk involved. If we are holding bitcoins and make profit, we can sell the profits to cover other expenses, but we cannot save money be expecting profit from it, unless we use those savings.

Yes, saving is more about saving money with a real level of security, while if we divert money to buy cryptocurrencies it is more about speculation where there will be ups and downs in the capital we deposit. However, in my opinion, both things are good to do as long as we are not careless, meaning we must be required to be able to manage all activities related to personal finances.