Posted on 06/10/2021 11:26:58 AM PDT by RandFan
@YouGovAmerica
What Americans think about cryptocurrency in 2021
% who agree
I don't really understand cryptocurrency - 69%
Cryptocurrency like Bitcoin is just a fad - 47%
Cryptocurrencies are the future of online financial transactions - 32%
(Excerpt) Read more at twitter.com ...
Bitcoin has HALVED in price! Crazy!
Economic transactions will continue to migrate from paper to digital, and blockchain technology will become more and more prevalent because of its usefulness in reducing the need for human auditors. But that doesn’t mean that cryptocurrencies will replace paper currencies and/or are a good investment.
The US dollar is a cryptocurrency. Probably +95% of US dollars exist in a digital form with a small portion being printed on paper or coined.
>> Like a pyramid scam it needs more suckers to buy into it especially near the top.
Yep.
It takes more money/time/energy to mint the later coins that are worth the same as those who mined the early coins.
Have to keep finding new people to buy into it.
there is nothing ‘crypto’ about the US dollar
‘digital’ ... maybe
I thought this for a while but Bitcoin proponents on the internet are very loud and promote it non-stop..
People could lose a lot of money with this kind of “asset”.
It seems to be subject to wild swings like up 20%, then down 20%.
Not something i’d get involved in anyway.
I very much like the idea of currency based on something that is not government fiat. But, yeah, there’s no stability in cryptocurrencies which, obviously, is an important feature.
Trump, as much as like him, is all about debt spending. His financial empire would collapse otherwise.
If you are for a banking system that cannot be inflated out of existence…the dollar is not your ticket.
That is perhaps the most “Fed” disinformation you could say. Most cryptos are greener than you could imagine.
It’s ok not to like the concept, but if you are all energy conscious all of a sudden take a look at lithium and gold mining. Yikes. Those things should be outlawed.
That’s for sure. Dollars are dirty. Dollars are used in most crime (97%+). Dollar transactions can be hidden.
The dollar is horrible.
You’re correct. But then again bitcoin might replace paper. I bought a few hundred dollars of crypto related investments just to try and learn more about it. I admit the complexity of bitcoin is mind numbing and its difficult to see the value in bitcoin in some cases (like dogecoin)> The volatility is ridiculous and what makes certain names jump and fall is comical....but some big names have bought in so at some point one has to believe there is something to it all. Doesnt hurt to test the waters
That’s understandable. And valid.
It will take time for the swings to calm down. It is a good investment for anyone in a narrow timeframe. And aside from a few of them…BTC, ETH, ADA, and a couple others—they are scams. It is important not to lump them all together.
But don’t kid yourself…the dollar is worth less than 2% of what it was 100 years ago. How many dollars have been pumped into the system in the past 18 months?
Our investments are at the mercy of banks and governments that care about staying in power. When you look at these things through that eye, there are only a few things worth holding…
So have many stocks on the NYSE and other exchanges. Many stock portfolios do the the same thing. Bitcoin is around 37K right now and many many people bought in at sub 2k. I think they are doing ok.
I agree though the easiest answer is to go back to a gold/silver standard which the U.S. used fine until the 70’s.
How many bought in at 50k though when the proponents were assuring them it only goes up .!
Cuts both ways.
There are winners and losers.
I just said to afoolinparadise I think it’s like gambling at this stage. No one knows where its going now.
It maybe headed to 2k again!
Two years after investing mere $5K into crypto, my crypto is now worth more than my 401K.
For the past two years, Freepers have been down-playing crypto, meanwhile my retirement savings have doubled.
My assessment is that most people don't understand crypto, and therefore are negative about it. I spent a lot of time learning about it and researching the investment space. Yes, if you are stupid about it and aren't careful, you can lose you're shirt, but if you take the time to learn and understand, you can do very, very well in crypto.
I’m pleased you’ve done well
Obviously you’ve timed it right. Not everyone will though.
should come with a huge health warning....
What do you think makes the price of gold go up?
Gold has halved in price many times. How about silver? Now there is a stable one.
Folks I’m not saying crypto is a good investment or not but at this time there are far far more people that have made a killing in crypto vs those that have lost.
That would drive the price of gold up to $15-20k. The entire system would be “shocked” if that happened. And our reliance on debt would seize up government spending. And that would would seize up the economy.
When you look at the options, the usual “out” for our situation is a war.
I don't think very many have bought bigly at 50k. Most will have bought just fractions of a bitcoin so they are down but like long term stocks they are still in the game. Do you know where the DOW is headed? Gold?, Silver? Real Estate? The DOW could be very well headed to 10k with our current leadership. People are buying homes at 600K that 3 years earlier were less than half that and you can't buy a fraction of a house and limit your risk.
Do you understand that with Crypto like bitcoin you can buy small fractions of a coin? You can take $200 and buy bitcoin. You can also buy other coins at fractions of a cent. It's these very risky areas where the really big gains can be made all while limiting risk to a small amount.
To all on this thread. I'm not saying you should buy crypto and it's clear you could lose all of anything you put in.
That being said what is being missed over and over by so many people is the fact that crypto is the chance of a lifetime when it comes to speculative investment. Outside of a lottery ticket there is no other investment that can bring the returns that crypto is capable of. Imagine making 5000% on a $100 dollar investment. It has been done many times and continues to happen quite frequently in crypto. My thinking is don't risk your mortgage payment or food money but a $200 investment could pay off to a life changing degree. Something to think about.
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