Look, I get the whole thing about you don’t want to believe you made the wrong choice by going with crypto, and I totally understand that you’re really locked into your position because crypto crashed.
But the difference between the smart man and the wise man is that the wise man cuts his losses once it’s apparent he’s fucked up.
Look fat, I'm in cashless hell, the only reason I'm still alive is thanks to crypto. Now I own a farm, supplies and everything I need to live off grid, how the hell does that constitute as "the wrong choice " in your world?
So you speculated in an inherently worthless item, and due to mass psychosis, it went from a few cents to tens of thousands of dollars.
Good for you! Congratulations that your speculative bet worked out in your favor! If what you wrote is true, then I can imagine you’re all in on crypto.
But that’s not what we’re talking about. We’re talking about sound economic principles.
Any asset that can go from pennies to tens of thousands of dollars in a few years is INHERENTLY VOLATILE, which means it can go from tens of thousands of dollars back to pennies just as easily. (Didn’t Bitcoin lose almost half its “value” recently?)
I was practically forced to, when they shut down my bank accounts, in cashless hell.
We’re talking about sound economic principles.
Such as? And before you bring up dollars or gold there are stable coins which are tied to these assets. DAI and PAX gold for instance.
Any asset that can go from pennies to tens of thousands of dollars in a few years is INHERENTLY VOLATILE
Yep, this is something I use to my advantage, of course not always with perfect luck or fully accurate predictions. It is gambling and not something you go "all in" on if you own nothing. I invest my profit into things that brings in more money.
Didn’t Bitcoin lose almost half its “value” recently?
Correct, 55-60% down after 2 000% up. That's still almost 1 000% up for the whole year. This is why you buy when fake news media and bankers tell you not to buy, when the price is low and has been going low for a long time. Then you exchange and buy real assets, cars for instance, stock up on food and ammo and similar after the price has gone up and is close to the top, at which point fake news media and bankers and even normies tell you to buy.
I don't care much for exchange rates to the dollar tho, I find the technology itself more interesting, web 3.0 for instance, un censoreable databases and file storage and more like that.
Just the fact that you’re explaining your strategy proves that crypto is speculative.
You’re touting crypto because it made you a lot of money. I get it. But as a store of wealth? Sorry but if I buy $1000 of an asset today, and that asset is worth $500 a couple weeks later, it cannot be used as a store of wealth - it’s too volatile.
Sound money allows you to store your wealth in that mode, with good assurance that when you come back to it years later, it’ll have just as much value as it did when you bought it.
The OP called crypto “sound money”. It is not. That’s the entirety of my point.
If you want to discuss great ways to live cashless and ways to make lots of money quickly, crypto definitely has a seat at that table.
But please do not conflate crypto with sound money.
God damn, are you fucking stupid.
Look, I get the whole thing about you don’t want to believe you made the wrong choice by going with crypto, and I totally understand that you’re really locked into your position because crypto crashed.
But the difference between the smart man and the wise man is that the wise man cuts his losses once it’s apparent he’s fucked up.
Look fat, I'm in cashless hell, the only reason I'm still alive is thanks to crypto. Now I own a farm, supplies and everything I need to live off grid, how the hell does that constitute as "the wrong choice " in your world?
So you speculated in an inherently worthless item, and due to mass psychosis, it went from a few cents to tens of thousands of dollars.
Good for you! Congratulations that your speculative bet worked out in your favor! If what you wrote is true, then I can imagine you’re all in on crypto.
But that’s not what we’re talking about. We’re talking about sound economic principles.
Any asset that can go from pennies to tens of thousands of dollars in a few years is INHERENTLY VOLATILE, which means it can go from tens of thousands of dollars back to pennies just as easily. (Didn’t Bitcoin lose almost half its “value” recently?)
I was practically forced to, when they shut down my bank accounts, in cashless hell.
Such as? And before you bring up dollars or gold there are stable coins which are tied to these assets. DAI and PAX gold for instance.
Yep, this is something I use to my advantage, of course not always with perfect luck or fully accurate predictions. It is gambling and not something you go "all in" on if you own nothing. I invest my profit into things that brings in more money.
Correct, 55-60% down after 2 000% up. That's still almost 1 000% up for the whole year. This is why you buy when fake news media and bankers tell you not to buy, when the price is low and has been going low for a long time. Then you exchange and buy real assets, cars for instance, stock up on food and ammo and similar after the price has gone up and is close to the top, at which point fake news media and bankers and even normies tell you to buy.
I don't care much for exchange rates to the dollar tho, I find the technology itself more interesting, web 3.0 for instance, un censoreable databases and file storage and more like that.
Thank you for proving my point.
Just the fact that you’re explaining your strategy proves that crypto is speculative.
You’re touting crypto because it made you a lot of money. I get it. But as a store of wealth? Sorry but if I buy $1000 of an asset today, and that asset is worth $500 a couple weeks later, it cannot be used as a store of wealth - it’s too volatile.
Sound money allows you to store your wealth in that mode, with good assurance that when you come back to it years later, it’ll have just as much value as it did when you bought it.
The OP called crypto “sound money”. It is not. That’s the entirety of my point.
If you want to discuss great ways to live cashless and ways to make lots of money quickly, crypto definitely has a seat at that table.
But please do not conflate crypto with sound money.