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Please tell us how owning crypto for reasons outside of digital currency/store of value is a smart move... we'll wait. "You get access to the tech if you own the coins", which is what 99.9 of these ****coins tell you is the reason to own their coin. Why can't I just pay for the service/tech with USD, BTC, or other digital currency? Why do I need your ****coin to get access to the service/tech. Not to mention, this aint like stocks. We don't actually own part of these companies as a result of holding their coins.
This is a straight up speculative play that we're making, based on not much more than a gamble for digital currency to be adopted by the masses.
Lower lows and lower highs over the long term.
You have to ask yourself, where is the demand going to come from?
The thesis of cryptos being a currency is long dead (too much energy and not stable enough)
As an investment? It never was
Just speculation left, and each time it makes a new low, it’s going to be that much harder to recover as selling pressure will increase as the price recovers.
If you haven’t by now I would suggest you reduce your crypto exposure to less than 2 or 3% of your portfolio.
It’s okay to take big risk for big gain, but don’t try to catch a dropping knife guys.
If we still lived in a paper currency society, hiding your money under your mattress would be an option. We dont though. Banks provide a service that allows you to access your money at any time via a debit card. I assume you use one just like everyone else. It's not about them securing my money, it's about them giving me access to to 24/7 without walking around with tons of cash on me. I'm ok with paying them for tha service. Someone really needs to step up and fill that void in the crypto market. People need access to their money when they aren't at home in front of their cpu.Why is it that people as a whole can not secure their own valuables and have to rely on a 3rd party?
Ah yes cause stating my opinion limits your ability to speculate. I'm here speculating too buddy, and I didn't have to leave stocks to do soLet the guys who wanna play big and speculative with their funds who dont mind losing it if it doesnt work out do it.
You dont understand thats fine and your opinion, just go back to stocks then and play it safe.
You're right with the bulk of your post, but it's not like a stock at all. There's no need for these companies to report earnings, answer to the public, have a business that generates revenue, or give up any of their ownership to coin holders.It's a stock, not a currency.
I'm just saying most people are investing in it like a stock, not exchanging their usd for a different currency. Agree its different than a stock though.Ah yes cause stating my opinion limits your ability to speculate. I'm here speculating too buddy, and I didn't have to leave stocks to do so
You're right with the bulk of your post, but it's not like a stock at all. There's no need for these companies to report earnings, answer to the public, have a business that generates revenue, or give up any of their ownership to coin holders.
^^one of the main issues is that as a whole, people are DUMB and dependent on others to have control of their $$$. That is a fact. Why is it that people as a whole can not secure their own valuables and have to rely on a 3rd party? We need a change of consciousness and get out of the mindset where its OK for a centralized business to hold our funds.
it's just like The Internet. slowly but surely, i'm hoping people see how IMPORTANT it is to secure your connection and privacy.
"It's not that I have something to hide, it's that I have nothing I want you to see."
^^one of the main issues is that as a whole, people are DUMB and dependent on others to have control of their $$$. That is a fact. Why is it that people as a whole can not secure their own valuables and have to rely on a 3rd party? We need a change of consciousness and get out of the mindset where its OK for a centralized business to hold our funds.
it's just like The Internet. slowly but surely, i'm hoping people see how IMPORTANT it is to secure your connection and privacy.
"It's not that I have something to hide, it's that I have nothing I want you to see."
Ah yes cause stating my opinion limits your ability to speculate. I'm here speculating too buddy, and I didn't have to leave stocks to do so
Your post is a perfect example of what I said earlier. You view crypto as an investment, not as a currency. For crypto to ever have real value, that has to change. At some point it has to crossover from an investment to a currency or it's all going to eventually be worthless.Thats cool either way but yall keep bringing up stocks in here like dudes care. We dont
Let us get these gains, find out some new money to be made and cook.
Nobody knows what the future holds.
Your post is a perfect example of what I said earlier. You view crypto as an investment, not as a currency. For crypto to ever have real value, that has to change. At some point it has to crossover from an investment to a currency or it's all going to eventually be worthless.
Your post below made it clear how you view it. And there's nothing wrong with that at all. I hope you do well with it. I'm just saying that for it to ever have real value, people will need to exchange their usd/gbp/euros for crypto with the intent of using crypto in place of those currencies, not to sit on it and wait for it to moon. If I go to the UK, I'll exchange some USD for gbp to buy a beer. I'm not buying gbp to sit on them and wait for gbp to moon. That's why the term stock has been used, bc right now the vast majority of people "buy" crypto to sit on it, not "exchange" their money for it to use it in place of their money. It's more investment than currency right now. These coins can have the tech and fundamentals they want but until people use is as a currency there's no real value to it, just hope and speculation.I never even said what I view it as. AI/IoT/Identity/Supply Chain are all the future on Blockchain. im invested in those and the stepping stones are all there as well as the fundamentals.
End of the day nobody knows what the future holds so lets get this money regardless.
Let us get these gains, find out some new money to be made and cook.
Thisyou cant tell someone how to spend their money, invest etc lol
dont listen to anyone in here and do your own research.
If you or anyone else took my posts as me telling someone else what to do, apologies. I just gave my 2 cents on the state of crypto.you cant tell someone how to spend their money, invest etc lol
dont listen to anyone in here and do your own research.
Because there are benefits to having a third party hold our money. Interest (no matter how negligible the rates are these days), being able to take out loans, being able to use a card that has my funds on it, being federally insured up to a certain amount etc
I laugh at the idea that bitcoin is going to "overthrow the banking system" like some of these redditors want to happen
Ah yes cause stating my opinion limits your ability to speculate. I'm here speculating too buddy, and I didn't have to leave stocks to do so
You're right with the bulk of your post, but it's not like a stock at all. There's no need for these companies to report earnings, answer to the public, have a business that generates revenue, or give up any of their ownership to coin holders.
People are using debit cards that give them access to that cash 24/7 anywhere they want to buy something. I dont know the tech behind it or if it's even possible, but an apple pay type service that links to your bitcoin wallet would be massive. Maybe it exists, I just dont know of it. Something like that being accepted at mass retailers would be the game changer imo.Just like ya'll say nobody is using BITCOIN/CRYPTO as currency.....who is using this?!?! Is this better??
So if cryptocurrency gets traded on NASDAQ or has a GOLDMAN desk ...will that make it more official for you? Coinbase as an SEC regulated exchange? How about Poloniex, which is owned by GSachs and Circle....which is already SEC backed?