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Price fluctuations make bitcoin a non-starter as a savings account anyway. It would be better to store savings in an interest bearing account with a bank or ot
by leohutson 11y ago
Price fluctuations make bitcoin a non-starter as a savings account anyway.
It would be better to store savings in an interest bearing account with a bank or other investments, some of which might include bitcoin and some of it's possible successors.
For me at least, the compelling thing about cryptocurrencies is the possibility of cheap transactions, but bitcoin itself doesn't really seem to fit the bill as it stands, so it seems like a high risk investment.
- fixermark 11y agoA friend of mine once opined that inflation is functionally the government's ability to tax savings accounts---waking up one day and finding out your money is worth 10% less because of government policy is pretty equivalent to waking up one day and finding out the government just took 10% of your savings account. But you demonstrably don't escape price fluctuation by moving to a non-fiat currency; you just move the causes around.