Contemplating if I should invest in crypto. Some of my friends are encouraging me to try it but I don’t know what the future of this will be like. Honestly think someone in the DS is behind crypto and will cause it to crash eventually.
Been looking at gold and silver a lot. I like it because their prices can’t be manipulated. What do you guys think?
Crypto isn't going away so if you blow $20 to just learn how wallets and access work it'll be worth it. You can exchange USD for any amount of crypto. Spend sub-cents if you want.
My opinion is crypto is better than USD but worse than silver/gold. Crypto isn't affected by inflation due to all this money printing like USD is, less government control, peer to peer rather than dealing with banks, etc. The only downside is if there were a major event that causes large grid outages, crypto would be useless. In those circumstances, silver/gold wins out.
Warning: I eat crayons for breakfast. This is NOT financial advice.
About a year ago I invested about 5k in tools, food and computer parts. Then bought a few 3000 series cards to mine ETH. The cards have paid themselves back already and are turning about 1k of profit per month.
Personally, I would not invest any money in crypto, unless you have spare money laying around. You will have to follow it closely. It is likely at some point prices will go down considerably before going up again. Perhaps now would not be the right moment to get in. I am not sure. I am in it for the long term, but my risk is zero as I do all the mining myself.
I do not have any gold or silver now. I figure when push comes to shove, it will not save my life as I can not eat gold an/or silver. It is questionable if I could trade it for food. I think I could buy other things that would be more valuable for such scenarios. There was once a really informative post from someone who described how the war in Yugoslavia began and progressed and what things became insanely useful and valuable. From what I remember: lighters, salt, soap and ammunition were easily the best investments to trade for food or anything else you needed.
If at all possible, I would invest in obtaining land, even if it is just a small plot somewhere. Where I live, it is rather restrictive. Depending on what land you buy, you either have to farm it, maintain it as forest or build a house on it. This stuff costs money and work, which is why I only have a few acres of woodland. I pay a local to maintain according to regulations.
Cryptocurrencies are decentralized meaning they cannot be controlled like fiat can. The only thing that can hack the blockchain is a quantum computer, however digital wallets get hacked often. If you get into crypto, store them on a ledger.
I'm all in on GME. But that's not financial advice. I just eat crayons
I'm in on it and silver. Still hold a handful of stocks. Crypto isn't going anywhere and tbh is heading further and further towards more and more adoption. It has massive potential for so many test cases. If your unsure then maybe get some silver. Honestly I'd do both.
Be sure to get a hardware wallet though unless your intending on trading regularly.
As to "the deepstate being behind crypto".. I'm sure they could make a coin and I wouldn't be surprised should they, but they do not control the entire market and never will. I'd be more worried about crushing regulation changes or something like that.
Gold and silver prices can definitely be manipulated its why silver has sat where it has for so long.
Either way DS has lost their financial control and the walls are slowly closing in on them. I encourage you to do further reading.
https://kinesis.money/
Best out there - crypto backed by gold and silver
I'm buying both physical silver and ETH. I'm an idiot, don't follow financial advice from strangers on the internet.