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Yeah true, you actually saying the truth, there has to be a balance... Especially when bills, rent, and everyday life still run on fiat. Even for those earning in BTC, they often still think in dollars anyway, like, this much BTC equals rent, food, etc.. So yeah, fiat not going anywhere overnight.
But how about some people who just default to saving in fiat their whole lives without really questioning it, beyond emergency funds or short term needs, they keep stacking cash that loses value every year. I get it though… it feels like it safer bcus they have gotten to know what bitcoin holds...
People do not understand money and/or realize that their money is devaluating at such a high rate, and they also don't understand that the most likely cause is government printing rather than various other explanations.
I am not anti-government, yet many of us do not realize how much we have been lied to about money and other matters too, and even the individual actors within the government might not realize that they are lying about various aspects of our money and economic matters.
But once theyve actually understand Bitcoin, they kinda start seeing fiat as the risky one long term.
It can take a bit of time for the switch to flip, even for bitcoiners, since many folks may even get into bitcoin with goal to make more cash. Like to get to a million or more and then be a millionaire. So they might not even realize that they might end up screwing themselves over if they spend 4-10 years or more accumulating bitcoin merely to sell all of their bitcoin and to invest into various dollar system matters, including but not limited to real estate property (like a house or even an apartment complex) to consider that is a better place to transfer their bitcoin into some inferior place... Some will actually learn about bitcoin during their 4-10 years or more investing into it and realize that they are better off to not sell too much of their bitcoin and to engage in some kind of a sustainable withdrawal and/or maintenance of their BTC..
It’s not about dumping fiat completely, but realizing where to store value for the future and where to spend in the present...
So for example we might not get into too much trouble if we are ONLY holding 2-4 months of cash in various forms.. since it may well be practical to do so, even though it is known to be losing money. Yet we have to be careful not to hold too much cash and to recognize bitcoin as the better place to hold value for the long term in accordance with Gresham's law.. spend the less valuable money first.
I think trump kind of in a way help some of them, especially the pensioners, in one of his new policy..
"Trump once mentioned retirement accounts like 401(k)s should have the option to include Bitcoin giving Americans, especially retirees, more freedom over how they invest their future".....
Sure, allowing BTC in 401ks as an option might be good. Pension fund managers will usually select which assets they hold, and bitcoin would likely help pension funds too.
That article is a week old, so yeah it will be interesting to see how the 401k matter works out and how long it might take to start to go into effect. There are some 401k funds that have more options than others in terms of what kinds of assets are available within the fund, so some of them might not want to add it, even if it becomes legal to add it, but then the ones that do not add it as an option might be forced to add it if their competition is adding it.
You are very clear with your view there is definitely a mental shift that occur once people really grasp what Bitcoin truly represents and how fiat works behind the scenes so many people grow up trusting fiat by default that's what they ever known, so they save in without thinking
But that trust often comes from familiarity, not actual understanding.
It’s long how many people don’t realize they’re slowly decreasing value year after year just by holding money. And you're right it’s not always about blaming some evil mastermind. Some people even in positions of power, are just repeating what they were taught or what keeps the system flowing. Once that Bitcoin lens click on into a place , through fiat starts watching more like the speculation asset are especially over long run.