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Bitcoin for me is a "savings account". The tx fee is certainly important, but more important is the long term value appreciation. I have changed btc to other cr
by spurdoman77 6y ago
Bitcoin for me is a "savings account". The tx fee is certainly important, but more important is the long term value appreciation. I have changed btc to other cryptos to spend them, so I pay less fees, but Im not holding other cryptos long term.
- bouncycastle 6y agoa savings account that loses 50% of its value in a matter of days? If anything, the crash last March has proven that BTC is not a safe asset and not immune from a global financial meltdown. Other way around - its very sensitive to it actually.
- ric2b 6y agoIt's very volatile but usually you don't touch a savings account regularly so it doesn't matter what it does day to day, only long term.
- bouncycastle 6y agoIt seems like the whole meaning of "savings account" has been lost in one generation.. In the old days, the very point of a savings account is that it keeps the value stable, and pays interest on top. The more long term you save, the higher the interest. Compounded.
- onefuncman 6y agoYeah, that whole thing doesn't exist for my generation. We've never had savings accounts that beat inflation in our lifetime.
- lern_too_spel 6y agoSavings accounts aren't meant to beat inflation.
- orestarod 6y agoIn some European countries, your money on the bank was taken by the government due to the crisis. It's a bit worse than ups and downs in bitcoin, where you have a chance to get it back.