Yeah this is just bad financial advice. Market existed before Bitcoin, and even then, as a risk asset, it follows other risk assets in the market (correlation). Originally, Bitcoin was touted as not correlated with risk assets or other stocks and instead to be similar to gold. A digital gold, if you will, but that’s not the case since it’s not a hedge against inflation and is correlated with risk assets. Don’t buy Bitcoin, be smart with your money.
Depends on how long one wants to hold it I suppose. The faith in fiat is much more erroneously placed than faith in crypto, which is different from digital currency. Be sure not to confuse the fundamentals.
I have an aunt who said she didn't want to hold Bitcoin because it was used in drugs and trafficking. I asked her how much more dollars were used.
Nothing is risk free, any fractional reserve asset that they tell you is "stable" really has the same volatility fundamentally, but as soon as the price goes up, they suppress it and put the profits in their own pockets. Once it goes down you won't notice until after a few weeks when inflation strikes and food and gas prices is suddenly up 50%.
Ride the wave and do your purchases when you get the most affordable price. Focus on buying supplies that you can stock up and keep for a very long time. And also make sure to have your own production, get chickens, a garden where you can grow plants, a well, solar panels and battery backup, try to not be dependent on the grids or the government. The lower monthly living costs you have, the better.
Yeah this is just bad financial advice. Market existed before Bitcoin, and even then, as a risk asset, it follows other risk assets in the market (correlation). Originally, Bitcoin was touted as not correlated with risk assets or other stocks and instead to be similar to gold. A digital gold, if you will, but that’s not the case since it’s not a hedge against inflation and is correlated with risk assets. Don’t buy Bitcoin, be smart with your money.
Fiat inflationary Bitcoin deflationary
Depends on how long one wants to hold it I suppose. The faith in fiat is much more erroneously placed than faith in crypto, which is different from digital currency. Be sure not to confuse the fundamentals.
I have an aunt who said she didn't want to hold Bitcoin because it was used in drugs and trafficking. I asked her how much more dollars were used.
Nothing is risk free, any fractional reserve asset that they tell you is "stable" really has the same volatility fundamentally, but as soon as the price goes up, they suppress it and put the profits in their own pockets. Once it goes down you won't notice until after a few weeks when inflation strikes and food and gas prices is suddenly up 50%.
Ride the wave and do your purchases when you get the most affordable price. Focus on buying supplies that you can stock up and keep for a very long time. And also make sure to have your own production, get chickens, a garden where you can grow plants, a well, solar panels and battery backup, try to not be dependent on the grids or the government. The lower monthly living costs you have, the better.