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A comment on Blackballed by PayPal, Sci-Hub switches to Bitcoin. Parent comment

Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by spurdoman77 on Friday June 26, 2020 @05:58AM (#23650341)
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.
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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by bouncycastle on Friday June 26, 2020 @09:22AM (#23651650)
a 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.

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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by ric2b on Friday June 26, 2020 @11:23AM (#23653012)
It'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.
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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by bouncycastle on Friday June 26, 2020 @11:30AM (#23653098)
It 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.

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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by orestarod on Friday June 26, 2020 @12:43PM (#23654007)
In 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.
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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by onefuncman on Friday June 26, 2020 @11:53AM (#23653386)
Yeah, that whole thing doesn't exist for my generation. We've never had savings accounts that beat inflation in our lifetime.
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Re:Blackballed by PayPal, Sci-Hub switches to Bitcoin by lern_too_spel on Saturday June 27, 2020 @02:44PM (#23663743)
Savings accounts aren't meant to beat inflation.
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