Are you protecting yourself from the 3.5% global inflation rate?
To you, what does the phrase “save money” imply? Does it entail depositing money in a bank’s savings account, or shoving it under your mattress? Gone are the days where holding onto your money, either in physical form or in a bank will make you any richer. In fact, just the opposite is true.
Let’s take a deeper look at this two-word phrase that can give much more thought into.
The term “save” has a few different connotations.
“To keep and store up” is the first.
“To keep safe and rescue” is the second meaning.
The second one is the one I’m most interested in right now.
What about the term “money”?
I’ll provide a definition because the dictionary assumes it’s real coins or banknotes, which is archaic even before considering Bitcoin’s existence.
To put it in another way, money is a tool that people use to store and transfer value.
Consider what would happen if the instrument humans used to store and transmit value was attacked or died.
This instrument would have to be rescued.
This instrument would have to be saved.
We’d have to put money aside.
So, when I say I’m saving money these days, I’m not talking about putting money in a bank.
I’m referring to the development of a new instrument that humanity can use to store and transmit wealth.
The old instrument may no longer function as it used to, necessitating the purchase of a new one.
For at least fifty years, government-issued money has been losing purchasing value due to inflation, as we all know. – Investopedia. It used to be that a can of soup cost 10 cents, now It is one dollar. Countless instances are available. A residence has also increased in value tenfold. Inflation occurs when political pressure is applied on those who have the ability to create money to make a larger amount of it, and they lack the discipline to resist it. Today, the strain has reached a breaking point, with trillions of dollars being manufactured on a yearly basis.
Savings kept in the form of fiat currency in “savings” accounts are destroyed as a result of this.
Bitcoin is here to save the day.
Bitcoin has possibly come to save the fundamental concept of money from unprincipled overproduction by the monetary system’s undisciplined and untrustworthy human guardians. There is no inflation on Bitcoin. Confirmed by Luno, there are and will always be 21 million coins, each of which is divided into 100 million satoshis. Over the next 100 years or so, the coins will be released according to a set schedule. They will only be given to persons who have worked hard to acquire those Bitcoins in that time span. The supply of Bitcoins is unaffected by political events. The combination of assured scarcity, the option to trade its derivatives with platforms like Chainbit, CoinBase and Robinhood and the obligation to labour for fresh Bitcoin issuances restores integrity to the monetary system. However, it only does so for the monetary instrument that possesses those qualities, which is Bitcoins (and their subunits, satoshis). As a result, Bitcoin is here to possibly save money as we know it from oblivion.
You should also consider exchanging your money to Bitcoin if you want to possibly save it from oblivion too.
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