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What do you mean by “real growth”? No interest earned? What I want is the ability to safely store value. Saving money in a bank account wasn’t working for me,
by chabes 7y ago
What do you mean by “real growth”? No interest earned?
What I want is the ability to safely store value.
Saving money in a bank account wasn’t working for me, because monthly fees took literally my last pennies, which led to overdraft charges.
Saving money with bitcoin hasn’t just maintained and stored value for me, it has also grown tremendously in value.
In my case, it’s risky to participate in the traditional financial system anyway, so I don’t feel like experimenting with an alternative system is any more or less risky.
- ben509 7y ago(Disclaimer: you should talk to a CFP for personalized advice.) > What do you mean by “real growth”? Stocks have real growth. It is "real" because your stock is a share of a company whose employees are trying new ideas, teaching each other, making customers happy, etc. > ... it has also grown tremendously in value. Bitcoin had a lot of initial growth[1] indicating it was undervalued, and there was a ton of speculation. If you got in early and weathered the storm, congrats, but the market should have bitcoin correctly priced by now. In general, a currency doesn't grow in value any more than a lump of gold can grow in value. That it looks like it does is nominal growth, it means your benchmark, e.g. USD, is losing value. Your bitcoins will get you more USD in 10 years, but the prices of goods and services in USD will increase as well, so it's a wash in terms of spending power. [1]: https://en.bitcoinwiki.org/wiki/Bitcoin_history https://en.bitcoinwiki.org/wiki/Bitcoin_history