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?
I think to a large extent, people that are very good at saving fiat could be as good when saving and holding bitcoin. And perhaps the possibility of holding bitcoins for a long period of time could also have an effect on how people could hold and save fiat as well.
And yes, I think the awareness to hold bitcoin for the long run promotes the idea of savings in fiat as well. There’s a similarity as both bitcoins and fiat currency are both valuable and a form of currency as well. Getting the zeal to hold one could also help extend that zeal to hold the other as well.
Totally agree on this. I think it will be more easier for them to save Bitcoin if they are really good on fiat savings since Bitcoin price is consistently growing for long term while fiat money value depreciate due to inflation. Volatility is just least of concern for them if they will just think in long term goal.
What we can buy in the future using same amount of fiat that invest on Bitcoin will be far more better rather than if we just save fiat in the bank and let the bankers use our money in exchange for a penny interest rates.
Fiat sucks in short when you keep it in long term. Even Billionaires save their wealth in stocks and not in fiat.