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.
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.
If you for some reason need $500 a few weeks later and for some reason went all in, otherwise you hold of course to make the long term gains. This is investment 101.
Sound money allows you to store your wealth in that mode
Problem is that there is no such thing as "sound money", it's an illusion created by the bankers to rip you off potential value gains which you'll have for any market valued asset. The only difference between crypto and other market valued assets is that it's easier to exchange, which makes it more volatile as the price swings are faster.
I get the idea tho, would be really nice if we could have sound money. But we live in clown world where we can't have nice things.
The OP called crypto “sound money”. It is not. That’s the entirety of my point.
On this I agree, it's market valued, just like everything else in this world.
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.
If you for some reason need $500 a few weeks later and for some reason went all in, otherwise you hold of course to make the long term gains. This is investment 101.
Problem is that there is no such thing as "sound money", it's an illusion created by the bankers to rip you off potential value gains which you'll have for any market valued asset. The only difference between crypto and other market valued assets is that it's easier to exchange, which makes it more volatile as the price swings are faster.
I get the idea tho, would be really nice if we could have sound money. But we live in clown world where we can't have nice things.
On this I agree, it's market valued, just like everything else in this world.