Crypto The problem with crypto investing

This thread has turned into one man getting off his chest summarising everything negative about crypto. It's entertaining to read, especially on this a property discussion forum; because just the other day very similar arguements were construed for property as being more than a roof over one's head and becoming an investment vehicle and store of value - and the harm to society that this mentality over the past 100 years has caused. That thread was shut down quick by the admins of this forum because it was anti-property. The same **** posting idealogy but about crypto and it's all gravy. Let the hatred and vitriol flow out. Your blood pressure would be better for it...

 

plenty of pro-crypto threads and posts in this forum. None of it is original, just rehashing of the same tired coiner arguments. The shills in this forum are very un-original, no sport really.

If crypto is everything it is claimed to be, why would anyone be concerned with criticism from the haters? They are just jealous, right? If people wanna have fun being poor, then that's their choice.

Look at the MSM spreading all this FUD, what would they know!?
How Bitcoin's vast energy use could burst its bubble

Electricity needed to mine bitcoin is more than used by 'entire countries'

 

LOL! Have a feeling your comments are going to age like fine milk!

 

Some crypto advocates exhibit cult behavior - this is undeniable. Being nascent and the possibility of making easy money means the ratio of rational to irrational investors is rather low. Their absolute belief in crypto as the be-all-end-all is bloody annoying but to be honest I've seen this behavior in other investment asset classes as well albeit to a lesser extent.

Crypto investing = gambling until it gains mainstream adoption - this could be a few years in the making or it may never get there - who knows.

A decade from now Crypto will be taught in schools either as the greatest financial revolution in recent history or the greatest cluster **** in recent history.

Now that's out of the way, if you see a bull run (doesn't matter what market) and understand the risks involved - why on earth would any investor not give it a go? - Obviously risk management is key but that is true for any type of investment. #alleggsinonebasket #dyor

 

more FUD. seems to be quite the weekend for it. particularly in the noticeable absence of any major Tether prints.
Bloomberg - Are you a robot?

 

It’s definitely dead. It crashed 25% to a 3 week low after a 80% rise over the previous 2 months. Everyone panic sell! It was fun but it’s now over!

 

I have fairly recently bought cryptocurrency and am enjoying monitoring what is happening in that space (much to my initial surprise!). It seems to me that people buy cryptocurrency for a variety of reasons (to make money; because they believe in the potential of a project, they enjoy the technology, they like decentralised finance, lack of government control; ideological reasons etc).

It is certainly more volatile than other investments but there is also the potential for significant gains. I think people should generally be able to invest as they please (as long as they are not violating laws etc). Live and let live.

 

agreed. I also think people should be warned when a ponzi scam is misrepresented as not being a ponzi scam. Many regulators agree on this.

 

lol, I walked into that one didn't I. Now back to speculating, I mean investing...

 

I suspect it'll remain a "ponzi" scheme for the short to medium term.

Line in sand, at what point does it become, if at all, a legitimate asset class? I don't see governments adopting it anytime soon , if ever. Projects like digital yuan inherit many of the crytpocurrency characteristics but with the added downside that issuing government can track every single coin/cent.

Regardless of where Crypto ends up in terms of "monetary" value, I for one am excited about the sheer amount of innovation in the FinTech space.

 

I think some people are their own worst enemies in life. Your attitudes and the way you look at things make a big difference in wealth and life in general. Being so close-minded to anything and not considering possibilities is a real handicap, and probably is related to IQ, wealth/education level and past experiences.

Is it glass half-full or half-empty? All I see is that bitcoin has been in one big bull market for 10+ years. Whether you believe in the tech, or if it will one day be the global reserve currency, or even just see the investment potential, the opportunity is there if you see it.

Conversely, if you think this bitcoin up-trend will end soon, and it's all a ponzi scheme, then stay away from it. Why not short it? It makes more sense to do that than waste your time making endless posts about how bitcoin is a loser. At least you'll be paid to see it fall.

Attached are the differences between investing and speculating. Yes you can invest in bitcoin. Just like I can also speculate on any other asset out there including gold, currency and our beloved property.

Like I said before, close-mindedness is your real enemy not bitcoin.

 

The desperation of Crypto enthusiasts to convince others is telling as is the yearning for this "asset" to come through for them. Classic greater fool. "Please....please make it so! I really need this!". But look, Wall St has found a way to make a buck from this, see...its real! And Elon put sweet FA of Tesla's balance sheet into BTC....to da moon!

I've 60x my net wealth since March 2011 by investing/operating real business that a simpleton like me can understand. Unfortunately I am one of those "closed minded", "glass half full" types, likely with insufficient IQ, wealth, education to understand this "asset class". I'll just have to trudge along as best I can and "have fun staying poor".

 

Right, so shouldn't you also measure lows to peaks as well? Would you like to take the time to post the % increase in value for a fair comparison?And how each drop in value bottoms out at a higher level than the previous drop?

Higher highs and higher lows is a definition of a bull trend my friend.

Follow the money. If CEOs of nasdaq companies, ETF funds like Blackrock, universities and state governments are invested in it, the first thing you should be asking is "what have they seen in bitcoin that maybe I haven't?"

Or are we all kidding ourselves that we know best and everyone else doesn't. And if that's the case, what company are you the CEO of?

 

Why should I? I'm not here to convince anyone of bitcoin. If you don't believe in it don't invest in it.

 

I was hoping there would be someone who could take that argument to the OP, I would think it is the perfect opportunity to do so, if there is one.