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?
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.