Quote from: Asuspawer09 on March 05, 2024, 06:33:15 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?

Keeping your money just means you're saving your money for funds, saving or keeping your Bitcoin are assets that could possibly generate profit in the future, in the case of Bitcoin it has a volatile market price so possible that asset might be worth more in the future compared to just saving your money in the bank, it might get interested but very low interest, not to mention we have a huge problem when it comes to inflation so its probably not going to be a good idea.

It doesnt necessarily mean that you're good at saving your money then you're going to invest in Bitcoin since we still have a lot of different investments that we could make not just Bitcoin, I mean someone could just start an online sales business if he just doesnt prefer investing in Bitcoin because Bitcoin is still a risky investment, it's still doesnt have enough proof that it is going to sustain its market price in the market. The value of Bitcoin just depends on supply and demand, meaning there was no kind of backup value that supports it, something like GOLD as a tangible asset, so we could easily say that the market price could also be based on the hype in the market. After a few years we dont know if Cryptocurrency is still going to exist at all, but on your business it is going to depend if you successfully handle that business it could be bankrupt if your not careful but you handle the responsibility of it, it might become a bigger business.

All investments are risky, you're right. Equating Bitcoin's risk to its low intrinsic value is simple. It overlooks Bitcoin's revolutionary decentralised, worldwide currency free from government control. This goes beyond supply and demand to a worldwide value consensus that is older and stronger than the fiat system

Your inflation warning is accurate but misses Bitcoin's sanctuary. Bitcoin is risky, but it offers a unique opportunity to save capital while traditional currencies devalue. This is a smart countermove to inflation's erosion of purchasing power, not speculation

Let's not write Bitcoin out due to its current issues. Now-essential technology have met scepticism throughout history. Diversify, but don't dismiss Bitcoin as a fad. It requires a better understanding and strategic position in a well-rounded financial strategy