Torrance said:
Some will survive, but 99.9% will be worthless and go away. Mainly due to regulations and lack of real use. So make your move and exit before it’s too late.
get in and get out on time
That’s true for any Ponzi scheme globally. It’s hardly a serious investment plan since no one really knows the best time to act.
Yes, your worries aren’t really founded, unless you’re planning to evade the laws in your country. BTC is quite a solid long-term investment. Just buy from reputable exchanges or through an ETF.
I read your post three times, but it’s hard to get a grasp on. You don’t seem to really understand how crypto works. Sure, some governments and financial institutions don’t like crypto, but BTC is well past being a fad; it’s here to stay.
Are you against KYC because you want crypto to remain unregulated and anonymously traded?
@Miko
I’m not debating the value of crypto as an investment, nor am I against KYC and I’m not an extreme crypto supporter.
I’m just worried about the safest way to buy it, given that banks usually block accounts for crypto-related activities, including any transfers to exchanges.
Gen3 crypto is worth considering - but for Gen1 (like BTC) and Gen2 it’s a no go. BTC is like tulip bulbs and there’s a lot of marketing to find a greater fool, but the tech level is like an old telegraph. Gen3 is closer to today’s smartphones - allows fast, low-cost transactions without greedy middlemen like Western Union. Blockchain has potential for digital IDs, AI, and smart contracts with real asset links.
@Arun
Even then, let’s not confuse being useful as a crypto with being a good investment.
If crypto worked as it was meant to, it wouldn’t keep skyrocketing in value, which makes it less helpful for what it was intended (a currency, not a speculation tool).
@Masitsa
Isn’t that always the debate over inflation? No one trusts the government these days when they dilute your hard-earned cash for their gain. So even trading tulip bulbs is better than keeping cash.
@Arun
That’s why nobody suggests holding cash. People only do that for short-term needs.
Once your net worth climbs above a few thousand, most should go into rewarding investments, not cash.
If you manage that right, inflation won’t hit you as hard, considering income doesn’t usually come in BTC.
@Masitsa
Inflation at 30%. SP500 with 20%. Do some calculations.
Arun said:
@Masitsa
Inflation at 30%. SP500 with 20%. Do some calculations.
For what period?
To reach 30% CPI inflation, you would have to look back to 2017. Between January 2017 and March 2024, there was a total of 30% inflation, but during that same time, the S&P500 surged by 125%…
You need to have better information.