you bring forward an excellent point of the fact that FED backed fiat currency is bullshit, which i agree with wholeheartedly believe me.
im just failing to see how its different. The only reason the USD works as an imaginary currency is cuz the US has a the biggest military in the world.
with crypto, you have a small minority of people that understand how it works and then a ton of speculators how are just trying to cash in on the money train. its value is 100% tied to how much the next guy thinks its worth, which means its going to rollercoaster for ever. (similar to current stock market yes, but comparing it to the insanity that is modern wall street inspires the opposite of confidence)
but maybe im just being thick. but the more i read about, the less comfortable i get with the idea.
The first thing to get comfortable with the idea of crypto, is not to put to much money into it in the first place. I invested no more per month than what I would have spent to go out to eat for a couple fancy meals. If it crashed completely, I'm not out that much if you look at it that way. People spend more on stupider shit. I lost more buying a house in 2006 and having to sell it after the crash.
As for not fully understanding it, it's no different than, say, paying someone to manage your 401k.
Look, crypto is at this tipping point, where it either gets co-opted by the big banks and becomes just another commodity, or it get's regulated all to hell and they try to squash it with Monero and such as a niche thing for an-caps. The cat's out of the bag though.
i do see a form of crypto becoming the default currency of the NWO, everything i understand about seems like its ideally suited to that goal.
in terms investing in it, ive got some money in, looking to cash in like money others, not enough to cause me concern over the current downturn cuz everything i see of it, its rollercoaster nature is by design, hell this is probably the best time to buy more.
but i dont think any of the cryptos we have today will be the main ones in ten years though
Bitcoin is only the big fellow because it has a "first mover advantage". There are better ones.
I think we may end up with a cashless society if the banks and big corps and government authoritarians get their way, but it will be very hard to get rid of mostly untraceable cash.
tbh thats what my monkey brain is betting on. i think big govt and banks will go full digital crypto currency, and that the underground economy will go physical. maybe bartering at first, with cocaine or alcohol or something similar becoming the currency of choice, and then we'll see from there
you bring forward an excellent point of the fact that FED backed fiat currency is bullshit, which i agree with wholeheartedly believe me.
im just failing to see how its different. The only reason the USD works as an imaginary currency is cuz the US has a the biggest military in the world.
with crypto, you have a small minority of people that understand how it works and then a ton of speculators how are just trying to cash in on the money train. its value is 100% tied to how much the next guy thinks its worth, which means its going to rollercoaster for ever. (similar to current stock market yes, but comparing it to the insanity that is modern wall street inspires the opposite of confidence)
but maybe im just being thick. but the more i read about, the less comfortable i get with the idea.
The first thing to get comfortable with the idea of crypto, is not to put to much money into it in the first place. I invested no more per month than what I would have spent to go out to eat for a couple fancy meals. If it crashed completely, I'm not out that much if you look at it that way. People spend more on stupider shit. I lost more buying a house in 2006 and having to sell it after the crash.
As for not fully understanding it, it's no different than, say, paying someone to manage your 401k.
Look, crypto is at this tipping point, where it either gets co-opted by the big banks and becomes just another commodity, or it get's regulated all to hell and they try to squash it with Monero and such as a niche thing for an-caps. The cat's out of the bag though.
i do see a form of crypto becoming the default currency of the NWO, everything i understand about seems like its ideally suited to that goal.
in terms investing in it, ive got some money in, looking to cash in like money others, not enough to cause me concern over the current downturn cuz everything i see of it, its rollercoaster nature is by design, hell this is probably the best time to buy more.
but i dont think any of the cryptos we have today will be the main ones in ten years though
Bitcoin is only the big fellow because it has a "first mover advantage". There are better ones.
I think we may end up with a cashless society if the banks and big corps and government authoritarians get their way, but it will be very hard to get rid of mostly untraceable cash.
tbh thats what my monkey brain is betting on. i think big govt and banks will go full digital crypto currency, and that the underground economy will go physical. maybe bartering at first, with cocaine or alcohol or something similar becoming the currency of choice, and then we'll see from there