Phillyman2633
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If you don't have money in Ethereum right now then it's already too late fam
Crypto currency
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SharkBait
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Thats going to crash, I dont do crypto and if I did I would do dogecoin
Phillyman2633
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It did crash...like 4 times so far. But it comes back stronger than ever. Crypto ain't going anywhere except up, only question is if you're gonna buy a ticket for this choo choo train to the moon or if you're gonna be left at the station
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Crypto is like diamond in that it's only real value is it's perceived scarcity. It's not regulated, and is not backed up by any government or authority. Once the pandemic blows over and economies recover it will plunge back to <$10,000/BTC
Phillyman2633
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I don't need an investment to be regulated by the government to give it legitimacy, and if it does drop below $10k, that wouldn't really be objectionable considering it went from $10k to $20k in the span of a month. You don't need to make up reasons not to invest if you don't want to.
32andBelow
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I thought it supposed to be a currency? I like currencies that don’t double or half in value in a week
Phillyman2633
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I look at BTC as the "gold standard" of crypto. There are other cryptocurrencies that are more stable and more viable for use as an actual currency. BTC wasnt developed for thousands of transactions a minute but others like DASH were.
Peter Gibbons
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Hey Phillyman2633 I got some red tulips for sale I hear they are a little more stable in pricing than blue tulips. Either way invest in flowers, gonna make you a millionaire, straight to the moon I tell ya.
Phillyman2633
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No one is forcing anyone to invest...you dont want to make money because you don't believe in it, that's fine but I'll keep making my gains. Companies like IBM, Amazon, and Prudential arent dumping billions into blockchain tech for shits and giggles. Is investing in Tesla more "real" than investing in Bitcoin because it's regulated by the same people and institutions you (we) rail against?
Peter Gibbons
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I'm not denying blockchain tech exists, or that its not going to revolutionize how we do things on the internet in terms of transactions or web security. That's all valid. I just don't think it's scalable for world economy size things (in terms of using it like a currency) outside of its current niche role. The tech is certainly important, there is no denying that, it's the current application that's worrisome. All those companies you listed aren't dumping money into blockchain for shits and giggles, they are doing it for the future gains when it's applied to things besides a form of currency for buying Thai ladybois on the internet.
On top of that, I don't see a complete lack of regulation as a plus. The whole thing just reeks of impropriety to me, and I'd hate to wake up one morning and have invested thousands in crypto and poof.... It's gone, and I have no recourse to recover it.
Tesla is more "real" because they manufacture a real product and produce real jobs and real money. Bitcoin and all crypto has been nothing but blind hype that capitalizes on mostly dumb people. They pump and dump. Let me know when you make real money. Just because it says you have doesn't mean you actually have until you actually cash out.
It's the tech savvy pyramid scheme.
32andBelow
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You can def make real money pump and dumping Bitcoin. People have. That doesn’t mean it long term is going to stick around.
Phillyman2633
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Tesla has a market cap that's more than a hundred times higher than the total amount of vehicles they have ever sold. If that's not blind hype, I got a bridge to sell u my guy.
Some people make money off of buying PS5s and selling them for 3 times what they're worth. I'm making money by investing in tech companies that are creating tech and processes to disrupt pretty much any industry you can think of. Is it risky? Yeah sure, so is buying TSLA at $600.
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You can't say you're making money investing in tech companies and then in the same breath say TSLA is blind hype. Saying TSLA is only valued for their vehicles would be like saying AAPL is only valued for their computers in the 90's. And buying BTC isn't "investing in tech companies" it's a gamble to purchase at any point in time.
Phillyman2633
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Who told you I owned any BTC? You're misunderstanding the point I'm trying to make. What I'm getting at is that investing in a company like Tesla which has sold less than half a million cars yet is valued at like triple the value of the rest of Ford/GM/Toyota/Dodge/Nissan/etc combined isnt any different than investing in a cryptocurrency.
Buying most cryptos is basically just a different way of investing in tech startups, which from your last sentence about Bitcoin I'm inferring you dont understand. "Cryptocurrency" in this case is probably a misnomer, since many arent meant to be used as actual currencies.
Again, if you dont want to put the time and effort into doing your own research, nobody is forcing you to put your money into crypto, but just because you dont understand it doesn't delegitimize it. I invest my money in crypto like I invest in the stock market...any money I put in to my Vanguard account is instantly "lost money" in my mind until I, like Soham said, cash out and realize my gains. You can thumb your nose all you want and pretend it doesnt exist and we'll see where it sits in 5 years. The technology upon which crypto was built certainly isn't going anywhere.
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I didn't read this til now but I'm going to shill all my money into GRT and see where we are at next year. Buy the dips
Acquired Taste
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I YOLO'd my life savings on XRP last month at .80. Now looking for someone to be my big spoon and reassure me that everything is going to be alright.
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More data needed. 1. Are you serious. 2. How much was in your "life savings" (cause to my knowledge we can't move our TSP out of allocated funds). 3. How old are you.
Acquired Taste
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Nah I'm just trolling. I'm not a believer in crypto. In my opinion, it's purely a speculative gamble that is a manipulated ponzi and does not and will never serve as a means of exchange/currency. Holding any of these digital fairy dust coins is awesome when you are making gains but until paper profits are secured, I think it would be hard to sleep at night for crypto owners that understood the risk behind HODLing.
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