Cryptocurrency - help me understand please.

Most of the money poured now in defi , institutional money just starting to get in . If you want safe bet - bitcoin , there are ton of solid projects , you just have to research what team done , whos in the team devs , why the world need this particular dap , whis their competition etc ... Research through discussion forums ( not truckers related )
I have seen projects skyrocketing . Here is the example : BNB ( binance exchange native coin ) beginning of 2020 it was under $10 - within a year over 700 , SOL (solana) was under $20 just in spring of 2021- later in the fall it was $260 , SCRT ( secret network ) was under a $1 in midsummer 2021 - over $10 in fall 2021 ... I can go on and on and on ... It all depends if you invest for quick buck or long term investor , there is a process called staking in crypto - when you collect annual return on your tokens or coins ( similar to saving account ) - its usually 5-10% with 0 risk - calculated in coin that staked ... Not in dollars
Dont listen to people who heard something or someone pointed them to invest , do your own research and think
You can loose same easy as make money in crypto . Pm me and i can send you link for YouTube channel with ton of info ( no sign ups , no bs - just legitimate information with explanation )
This is an annual chart for WAVES for example

 

cryptocurrency is nothing but a blow off valve for all the extra inflationary money that has entered the financial system... when the economy comes crashing down and people lose alot of excess money you can imagine crypto will fall to almost nothing because it is nothing, which is what it worth should be.. the case for gold is gold is actually used in most every piece of techonology. whether the price of gold goes up or down there will always be a use for it and a need for it.... just because people have made a #### ton of money off bitcoin and other crypto means abosultely nothing... alot of people cashed in on the dot com bubble until it all came crashing down because it was nothing...

 

Seems to be a little late to get in on the crypto scene……too me
seems like commodities is where it’s at right now

 

I think 99% of crypto is useless or a scam.

That remaining 1% on the other hand has real world utility and has potential to bring serious returns as there's global adoption.

Gotta do your digging and refrain from chasing meme coins. Utility tokens are the future in my opinion.

 

I don't know. Haven't talked to him in years. Heard about it through the grapevine.

 

Why is everyone in this thread talking in a foreign language?

 

I have 4 Eth that I bought at different times for $2500’average. So 10k. At this point I have no idea what can happen. I wish I’d bought earlier but feel fairly confident at $2500’average. I don’t claim to be an expert and feel like I’m kinda along for the ride!

 

Most people right now are treating it as an investment. You trade your dollars for bitcoin and at some point in The future you will sell your bitcoin and get more dollars than you put in originally back to you. This is certainly one way to look at it, as a high risk high reward investment.

However it really is a currency. It hasn’t taken hold in most places yet, but it does certainly offer advantages over our current currency system. The only way the price will stabilize is when more places accept it as a legitimate form of payment.

This is an interview Joe Rogan did with Andreas Antonopolis, a bitcoin promoter in 2014. Joe Rogan is a hot topic these days, but this really is an informational podcast. Andreas lays things out, in my opinion, very clearly.

#490 - Andreas Antonopoulos

 

If you read or listen to audiobooks i highly recomend terry pratchett's "making money"

Its basically about taking an economy off a gold standard and onto paper money. (Though its a bit of a different world the story is told in to say the least, its not a serious book but he is spot on in how people react to things)

Once done with that, its (crypto) EXACTLY what you said about a lump of firewood.

Though to be fair, theyre piggybacking stocks in a company that doesnt exist, and leveraging one thing that DOES make it valuable, which is the blockchain.

The quick and dirty of "ledger" or "blockchain" is that there is a public record of who has what and when anything changes hands, thats not unique, whats unique is HOW its public, basically every single user has that record, its decentralized, not like a bank where they only have one main record and a few backups, and youre just looking at THEIR records.

In theory if money is essentially going to be digital, then crypto seems better. After all, bank error NOT in your favor could be a banks screwup but you would have no recourse.

 

I find dealing with real money challenging enough. A lot of folks made amazing returns as clients of Bernie Madoff… until the crash.