Agreed. The buy-and-hold strategy could pay off someday, depending on how the whole crypto market shakes out after the fiat crash. Feels like real economic freedom through crypto is slow in coming because so many people are chasing profit.
As I've tried to point out many times, and been shouted down by the zealots, crypto can be a get rich quick scheme or a currency. It can't be both. They are mutually exclusive concepts.
It currently is both tho, call it a war or whatever but fact remains, some idiots chase profits and others use it to preserve their freedom, despite volatility. If your portfolio is small you could use stable coins pegged to gold or silver to safeguard against volatility.
I guess crypto is too broad a term. I should have said Bitcoin, or the most popular crypto coins. There are a ton of different coins, but there are just a few that dominate the market cap and transaction volume numbers.
As the alternative would be precious metals, you could consider crypto as freedom. Sure if satellites and underwater cables where cut off, you'd only be able to transact over a shorter distance, and transactions would take longer.
But even then there may be cases where that's more convenient then physically drive a long distance just to pay in metals. In really bad situations where entire communities are shut off from all connectivity, local cryptocurrencies would likely be an alternative, as your local town or village would still have connectivity through already existing cables or radio signals.
The potential benefit of crypto is as an alternative system to central banking.
Anyone using it to gain fiat wealth is reinforcing their own enslavement.
Agreed. The buy-and-hold strategy could pay off someday, depending on how the whole crypto market shakes out after the fiat crash. Feels like real economic freedom through crypto is slow in coming because so many people are chasing profit.
As I've tried to point out many times, and been shouted down by the zealots, crypto can be a get rich quick scheme or a currency. It can't be both. They are mutually exclusive concepts.
It currently is both tho, call it a war or whatever but fact remains, some idiots chase profits and others use it to preserve their freedom, despite volatility. If your portfolio is small you could use stable coins pegged to gold or silver to safeguard against volatility.
I guess crypto is too broad a term. I should have said Bitcoin, or the most popular crypto coins. There are a ton of different coins, but there are just a few that dominate the market cap and transaction volume numbers.
As the alternative would be precious metals, you could consider crypto as freedom. Sure if satellites and underwater cables where cut off, you'd only be able to transact over a shorter distance, and transactions would take longer.
But even then there may be cases where that's more convenient then physically drive a long distance just to pay in metals. In really bad situations where entire communities are shut off from all connectivity, local cryptocurrencies would likely be an alternative, as your local town or village would still have connectivity through already existing cables or radio signals.