You might have been paid in bit coins, but the value of these bitcoins has to be declared at the day of transfer so you can pay taxes in your local fiat currency.
Nobody are disputing that it is a really bad idea to hold cash above an emergency fund. Everyone is highly discouraging you from doing it. Buy ETFs, stocks, houses, cars, cyrpto whatever you need - just don't hold large amounts of cash.
All in all, it makes a very little difference what you are paid in - just that you have extra hoops to pay your taxes now that you are paid in bitcoins.
> Nobody are disputing that it is a really bad idea to hold cash above an emergency fund. Everyone is highly discouraging you from doing it.
So you know that modern money doesn't fulfill one of the central uses of money that was known since the antiquity: store of value. And you know that people have to waste time to learn about investments instead of working their jobs and enjoying their time off. But you still think fiat money is great?
You don't hold your own money, you don't manage transferring your own money, you basically don't do any of the things a bank does. How does that make you your own bank exactly?
So that would not really constitute a bank that stores currency.
(I have nothing on crypto currencies, btw., and if it gives a feeling of agency to use them I applaud it)
If you start from there, you'll never understand bitcoin. I own bitcoin precisely because it is not what economists, bankers and politicians want me to own.
This thread was not about understanding bitcoins - but banking.
> I own bitcoin precisely because it is not what economists, bankers and politicians want me to own.
It doesn't really make sense to own something just because someone else are saying you should not own it - but whatever floats your boat and as long as your own the consequences of your own actions.
Now that stonk people are in to BTC and it's worth is much higher, it's volatility is far less. It's still a speculative asset and with plenty of risk, but it's definitely a store of value for at least some % of one's savings.
