My question would be what would cryptocurrencies be considered, an asset or medium of exchange? Gold and silver were mediums of exchange and stores of value, now I believe they are just the latter.

I think precious metals and cryptocurrencies are somewhere in between. I 100% agree that fiat should never be saved, only stored, like you said for emergencies. People would do so much better if they had goals that focused not on money but on assets, knowledge, and experiences.