[Kolyan2k]

Many say it's here to stay and due to limited amount, it can only go up in value. So far I personally know more crypto success stories than people who had covid

Friend of mine said his coworker quit after banking 10s of millions on crypto. Another friend of mine just few days ago told me he has over 1 million buck in bitcoin and eth, planning to sell after 2025.

If I believed in crypto just a year ago, I would be a multi millionaire too )

[Turkish Pickle]

Originally Posted by No one

Not everything that's in limited availability is in high demand/cost. Look at artists' works: only a few are recognized as masterpieces and cost insanely. Those who have them can't tell them from fake/shit , but some still can and that must be what's making the value. You can make hardware from gold and wear it. What about "bitcoin" whatever you mean by that?



Stocks and derivatives are ultimately connected to valuables (goods or services), aren't they?



I think the "pandemic" is a valid contender.

Can you honestly say that when so many educated/trained economists are being baffled on how the market is acting lately?
Maybe after looking at Gamestop/AMC/Nokia, all pre-historic companies that provide low to zero value to customers in 2021 it'll make less sense.

Stocks/securities bring zero added meaning other than people feeling safer about supply/demand equilibriums because "there's something tangible behind it".

It's also funny to see how so many people who prefer stocks/securities with 2-3% returns annual say they prefer it because of the tangible aspect, yet do not understand why NFTs are popping today.

[No one]

Originally Posted by Kolyan2k

Many say it's here to stay and due to limited amount, it can only go up in value. So far I personally know more crypto success stories then people who had covid

Friend of mine said his coworker quit after banking 10s of millions on crypto. Another friend of mine just few days ago told me he has over 1 million buck in bitcoin and eth, planning to sell after 2025.

If I believed in crypto just a year ago, I would be a multi millionaire too )

"Look at buyers: they are losers struggling to make ends meet. Now look at sellers: they are cool guys who have everything. I am tired of being a loser! I want to succeed. It's time to become a seller!" (my backward translation from some movie) There's an important difference between those who tell stories and those who listen to them. The former ride the latter.

For you to win someone has to lose. It's not as simple as just to play. You can look at it as a lottery unless your friends explain what made them make the winning decisions reasonably (from what they could have known back then), so that you can use it for your benefit. Or listen to stories told by losers if you wish to stop regretting.

Originally Posted by Turkish Pickle

Can you honestly say that when so many educated/trained economists are being baffled on how the market is acting lately?
Maybe after looking at Gamestop/AMC/Nokia, all pre-historic companies that provide low to zero value to customers in 2021 it'll make less sense.

Stocks/securities bring zero added meaning other than people feeling safer about supply/demand equilibriums because "there's something tangible behind it".

It's also funny to see how so many people who prefer stocks/securities with 2-3% returns annual say they prefer it because of the tangible aspect, yet do not understand why NFTs are popping today.

"Tangible aspect" is a demand guarantee, I guess: it's something people won't stop wanting/needing. What's a crypto demand guarantee? And what's the tangible aspect of NFTs, why are they popping?

[Nachbar]

Honestly, I don't care. I make money swingtrading BTC. I'm in for the $$$, not the tech. 😉

[smokesrcki]

Originally Posted by XutvJet

They've been saying that for the last 5 years about Bitcoin and cryptocurrency. About the only places it's useful is in countries with unstable currencies or for illicit transactions. It is not the future.



^This.

Better to say, blockchain is future.. Bitcoin is just pioneer. And because of that it will stay with us for loooong time..

[Cyn-BMW]

Wait till the bottom falls out of crypto. I plan on riding it down, just like I rode it up.

[AustinZ4]

ISO 20022 adoption by international banks will be a boon for non-minable cryptos that meet that standard, which currently sits at 5 coins.

I've made a nice bit on several coins and holding ~12 right now. Mining 3 as well in a setup at home. Plan to expand that to 5 in the coming months.

Having the blockchain become more well known and used in the world is a positive end result for the banks. Not a single fraudulent transaction has been observed on bitcoin since inception whereas banks can count on a small percentage of overall fraudulent transactions but totaling near $30B in losses just last year.

[6oclockshadow]

With the current inflation climate, and the likelyhood of it getting worse before it gets better, crypto may be the way to go.

[Cyn-BMW]

Originally Posted by 6oclockshadow

With the current inflation climate, and the likelyhood of it getting worse before it gets better, crypto may be the way to go.

Until governments decide to have their own form of crypto.

[F32Fleet]

Originally Posted by 6oclockshadow

With the current inflation climate, and the likelyhood of it getting worse before it gets better, crypto may be the way to go.

Depends.

Crypto is functioning a lot like the gold/silver coin market. A store of value rather than currency. When interest rates go up the price of gold goes down.

My WAG is that the swing could be huge because ,unlike gold, cryptos have limited utility.