I've been an investor since 2013 but I had the experience of being a trader since 1990. I knew that this is a speculative bubble at best given how nothing useful has truly been created in this space, and the price rise would simply be based on hype. After seeing the hype peak in terms of knowledge (doesn't matter if all money has been invested in yet, it's about knowledge), I knew this would eventually go down. I told my friends (who are mostly all luckily in the 7 figure range) to start selling off. Guess what they do instead? HODL like a fucking bunch of dimwits and lose about 60-75% of their fiat value back into the 6 digits. I can't even imagine how worse it must be for someone with lower portfolio values. It's easy to pick anything that can exponentially grow at the early stages of a hype-based market. However, when you see adoption not increasing, and the hype saturating, the ONLY way for it to go is down. Anyone who held on in the last few months and is continuing to hold is a literal fucking idiot. Stop "hodling" and start being "craeful" as John Oliver said yesterday.
This is the same kind of craze I saw for www stocks back then, except in this case, this market has literally produced nothing of actual value and use (www market had tons of useful products even at an early stage), and should be treated as such since it fundamentally can't produce anything useful since no-one would use a crypto as a form of payment OR a store of value if the price continues to fluctuate.
Money which cuts out the middleman is worthless sell now!
bad larp, someone with experience investing would never call crypto speculation "investing", only people who don't know anything about finances do that
>but I had the experience of being a trader since 1990
le trash If you're out of the game you're a brainlet. Today is the easiest time to make money, both in stocks and crypto
Biggest joke in the fucking world. First, where do you buy your cryptos? Second, and more importantly, why would you spend it if you expect the value to go up or down wildly (which will always be true in a free, unregulated market by the way)? If there's no reason for you to spend, it doesn't matter if there's no middleman idiot. That's the trade off.
I already mentioned I've been invested in crypto since 2013 and have been trading stocks since 1990. I'm not out of the game idiot.
>thinks crypto resumes to forms of payment or stores of value
and your calling other idiots... go back to r/iamsosmart already feggit
LOL, what else do you think it should be used for? digital securities? securities already exist dimwit. The point is it's not improving anything in the world.
It's a 300 billion dollar cap market with nothing of actual value, improvement, or significance produced.
you're either larping or a fucking dumbass
>nothing of actual value, improvement, or significance
stop projecting your pathetic existence into crypto and DYOR you douche
You sound butthurt. Next time, when you come up with an actual argument to respond to my points instead of resorting to insults, let me know.
Lmao now I know it's a larp. Marketcap is literally meaningless.
>no-one would use a crypto as a form of payment OR a store of value probably true pretty narrow minded view of blockchain though.
supply chains and IOT, now fuck off already and go do some research instead of wasting everyone's time here with your shit tier larps
You need to read about smart contracts and in the meantime stop pretending that you know anything. You're embarrassing yourself.
Hope you're being sarcastic.
he is old man tho, its typical for old people to react like this.
I know what smart contracts are. I've been in this space for five years. You can eventually have a smart contract using some representation of digital fiat that already exists, a concept tied to blockchain, not a specific crypto. There is no value in crypto which is what the original post stated.
no I'm serious, all that matters is how much ETH you got, what its currently worth in dollar is unimportant
Blockchain is hyped up for a million things where it's not necessary, but it's legitimately cool technology. Whether or not the tokens will have any significant value, time will tell. But it's going to be around in some fashion as long as the internet exists. The hype bubble burst in Dec/Jan, crypto might go down or stagnate for a long time, but I think it's still worth watching for promising projects and buying back in eventually.
Yeah Crypto is over saturated, can only go down from here, buy pets.com, they have a real product. Or buy GE, or GM stock. fuck offf
you sound low iq. Crypto isn't an invention like the microwave or airplane, it's literally money that is way more convenient and fuckin trustless. OF course its gonna only increase in price from here.
Again, you're conflating blockchain with crypto. Blockchain MAY or MAY NOT be useful. Time will tell. Crypto, however, seems fundamentally useless given what I mentioned: due to the fluctuation in price (which will always exist in a free, unregulated market), no-one would use it as a form of payment or digital store of value. Now, since people want to hold their tokens only for the sake of value appreciation and not for anything useful in terms of improving the world, they are trying to find utility in something that fundamentally does not. In fact, I'm certain that most of you already know this but don't want to emotionally admit to it, and thus did not sell off most of their portfolio earlier.
You're so kind to come tell us this user. Such altruism!
>Eventually Weird, because we have them now
Refer to the original point I made. No-one will use it as a form of payment given the price fluctuation (which will always exist in a free, unregulated market). So no, it's not convenient. I haven't even begun to talk about the scalability issues. Nothing has been proven scalable so far in terms of a global use.
The replies in this thread should make everyone bearish.
I'm not conflating it, I'm specifically talking about blockchain because that's the post I replied to. I'm agreeing with you, the usefulness is still being researched.
As far as currency, private coins like Monero have a worthy purpose.
In the early stages, yes. This proves my point even further? So thanks.
Exactly. It's literally a bunch of know-it-alls who haven't given any sort of response to my points and keep repeating stuff they probably heard from the biggest echo chamber in the world: the cryptocurrency subreddit.
>thinks crypto will stay unregulated forever, despite G20 meeting in March after Pr Macron and Chancellor Merkel's call for regulation talks on crypto, and the previous SEC hearings on crypto regulation
Alright I'm out of this thread, if anyone decides to sell after listening to this guy spouting his nonsense, you've deserved it.
I can maybe see special cases serving a purpose in terms of illicit/drug payments/international payments maybe, but nothing on a global commercial scale for the reasons discussed above, making even the current value severely overvalued.
You obviously know nothing about smart contracts. Sucks man.
The price would still be completely speculative resulting in similar volatility regardless since it's not connected to any sort of companies that are providing value, so the problems I mentioned would remain. If they are used as digital securities, securities already exist, so again they're not providing any added value to the world. That's my fundamental point.
Where do I sign up to be a pro FUDster? Did they just repurpose ShareBlue when a new threat was realized?
alright because nano litecoin and these other "payment coins" no clue obviously 0 or worth more than they are today but I believe smart contracts are the future not these payment coins people are so hung up on.
we only need 1 or 2 PoW coins probably Monero and Bitcoin everything else who cares. Smart contracts are the future.
Yes go- I mean bro. Cryptocurrencies are worthless. You should only invest in OUR financial institutions and get a 9-5 like everyone else. Don't forget to take out loans to buy a house and car go- I mean bros hehehe...