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Most interesting aspect to me is the deflationary aspect. Savers in today's society get punished. If you don't want to buy lot's of stuff and instead want to ac
by dreit1 9y ago
Most interesting aspect to me is the deflationary aspect. Savers in today's society get punished. If you don't want to buy lot's of stuff and instead want to achieve financial freedom, then Bitcoin can be a viable alternative.
Additionally I work abroad, once I realized how much is was going to cost me to send my salary back home using the traditional banking system, I quickly became a bitcoin enthusiast
- alexasmyths 9y ago"Savers in today's society get punished" No. You can earn the same as inflation in a risk-free investment. You can earn more by taking a small amount of risk. Savers are not punished for anything.
- dreit1 9y ago? If you leave your money as USD in a bank account, you will not earn the same as inflation as interest. I consider this punishment. A pure deflationary currency should exist to counterbalance inflationary fiat.
- emodendroket 9y agoA deflationary currency seems pretty terrible for business operations or for any major purchases (car, house, etc.) though. If it's just an asset to hold on to that's less of a concern but the volatility of Bitcoin would make me nervous.
- dreit1 9y agoIDK I've gotten paid in bitcoin, and a variety of other alts before. Sometimes I moved into fiat, sometimes I saved it, if it can buy labor, it should be able to buy basically anything. In fact I wish a portion of my actual salary was in Bitcoin, so I didn't have to pay exchange fees every month lol If you're considering a long horizon, then volatility shouldn't bother you too much.