Those who have discretionary income should invest some of their income in Bitcoin, especially there are many people who save the money earned from their jobs in the bank or at home, now instead of saving this money in the bank at home, if they invest through Bitcoin, it will be the most successful and will get much higher returns. Apart from that, the benefits that Bitcoin offers are many times greater than the benefits that banks offer. So why would I keep money in the bank even though I know about Bitcoin? If I keep money in the bank, it would definitely be very foolish.
Bitcoin offers alot financial benefits, no doubt, but I want to state categorically that everyone must not invest in Bitcoin, yea! Been part of Bitcoin investment and or an accumulator of Bitcoin depends on two factors, which are:
*Knowing about Bitcoin in the first place, having at least a basic knowledge about Bitcoin and what it represents and
*Having interest to acquire it.
Those who do not know about Bitcoin will not be a part of the accumulation because you can only be part of what you know. But on the other hand, if you already know about Bitcoin, do you have interest in investment or accumulation of Bitcoin? Because I believe it's your interest that pushes you to invest. So we cannot really blame or fight a business man who knows about Bitcoin but has no interest to invest in it to do so, it's all choices and personal decisions, it's there own money after all. So I see INTEREST as a major factor to investing. So a man who maps out his income, handles his basic necessities and then creates his discretionary income and alorts for Bitcoin accumulation is really working on interest and priority, but a man who chooses to leave his discretionary in local acounts may not necessarily be foolish but may just lack interest in whole Bitcoin accumulation stuff, and shouldn't be scorned for his own personal decision, after all, there are other investments one can do apart from Bitcoin, yea. We only speak of Bitcoin so much well because its value is top notch and it's has proven over the years that it a stock of value and a financial liberator in the future.
Talking about keeping money in the bank, you can't necessarily keep all your money in BTC, because you may need your emergency funds to settle something immediately, and such emergency funds should be something you can access immediately and must not be loosing value over time, else you miss out on the aim why had the emergency funds at the first place. So yea, the banks are not completely ruled out. You can still accumulate your Bitcoin and also have some funds in banks for other reasons simultaneously.
I think you are getting something wrong here the fact that you are investing in bitcoin doesn't mean it is bad to have money in the bank or at home. Discretionary income is what you are supposed to invest with, i believe not all the money that is saved in the bank that is discretionary income. An investor can decide to keep his emergency funds in the bank, aside this there are countries were you can't transact with bitcoin. So it isn't a bad idea if people decide to save some part of there money other than discretionary income in the bank.
You are correct and that's the misconception people often have. Because we are talking about accumulation of Bitcoin and savings and the possible benefits we can get from such accumulated Bitcoin in the future, some now feels like we are totally Rulling out the services of the banks. They forget that it is not all the discretionary we are using for the accumulation. Some discretionary goes for building our emergency funds which is also very necessary and or a backbone to our successful long term investment plan. So, at this point, should I also keep my emergency funds in Bitcoin too? And my other back up funds, all in Bitcoin? Hell no, because it wouldn't be the right thing to do. If we also keep the emergency funds in Bitcoin, that means we have altogether invested all your income in Bitcoin accumulation and we know the doom it spells. Banks are still needed for other pretty cash work and access while we consistently accumulate Bitcoin on the other hand.