Sounds like maybe you love crypto "too much"...
I love buying it and then selling it later to someone else for a higher price than I paid
People's attitude is changing towards cryptos
- Thread starter Pekelo
- Start date
I love buying it and then selling it later to someone else for a higher price than I paid
That's whay we all hope to do... "Buy a crypto. When it goes up, sell. If it don't go up, don't buy it".
I think people are stupid enough to fall into the pump and dump scam again, but I might be wrong and finally youngsters have realized what actually happened with cryptos.
The hype is dead? I dunno, I will believe it when I see Bitcoin falling into oblivion, right now it is a dead cat maintained alive by financial institutions, just because they believe that they still can milk the cow.
The hype is dead? I dunno, I will believe it when I see Bitcoin falling into oblivion, right now it is a dead cat maintained alive by financial institutions, just because they believe that they still can milk the cow.
Corporate wallets are garbage and report three letter agencies. Client in the ME tried to send me stablecoin and had to resort to a wire. Corp crypto wallets are worse than banks. The idea that it’s anything but another asset class is shit. And it’s correlated to fiat-assets.
NFTs! Provenance! Staking. None of this shit works. As it gains widespread adoption the vol-decreases but it’s not a valid POS mechanism. It’s just 3X beta index.
Staking for any decent return and you’re risking your entire stake. The idea of plebe-VCAP of emerging tech is an IQ test.
I agree that there's a lot of crap in the cryptospace and I often agree with what you post here on ET. That being said, I don't think crypto has to evolve to the point of being a POS mechanism in order to maintain utility and grow in adoption. I think that that is more or less a "wealthy country" perspective. Your experience with a client in the Middle East is different from mine in North Africa. I've found it is usually (but not always) easier, faster and cheaper than wires and WU. Where I think it will grow fastest (in adoption, not necessarily assets) over the next 10 years is in countries where the banking sector is weak, unreliable and, at times, very corrupt. The volatility is an issue, but setting that problem aside for now, crypto solves some very real problems that people in other countries face on a regular basis. (In some countries, hyperinflation is worse than crypto volatility.) Still might fail, but it's not completely useless. Just my 2 cents.
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I see. My mistake.
I couldn't agree more. If he teaches money and banking, does he talk about the ponzi scheme that the USD is? Does he discuss how every fiat currency has failed? Does he discuss how a debt based system requires government theft through inflation designed to keep the poor, poor, while enriching the elite with asset appreciation? It he doesn't discuss any of this, he is doing a very bad job of teaching.
Tell us, oh wise one, about the relative performance this year of BTC vs. USD priced in say JPY? I'll hold. Inflation you say?!
Shame you didn't hold the 110 Bitcoin you had....