Wealthy people primarily own real estate, stocks and equity in private businesses. If they own any gold/silver, it would be a small % and for diversification

Look at a graph of inflation adjusted prices for gold/silver and tell me how that is a good investment
Here's a pic
Yeah nobody can perfectly predict the future, but people make educated guesses

And things like mapping the ocean floor and running weather models has real value, so people are willing to foot the bill for those costs

Maybe SPY is enough diversification for you. I invest in money in all sorts of areas of the market, real estate, businesses, hard assets like cars and i literally also hold gold coins. If you are more comfortable sticking to "status quo" then more power to you man!

I started a career but looking at the current state of technology and becoming well knowledge in what I believed was the future at the time when there were a ton of naysayers then too. Dont worry though, like most of my investments....im never "all in" on any one thing.

Check the jasticus thread on the front page.

Crypto is going to cause people to kill themselves en masse.

Shame on you for supporting that ponzi srs.

Nobody said anything specific about Microsoft or Apple. Those are money parks. Safe bets. No problem and I hold both.
Crypto is still very early days. You cant compare the stock market like you said which has been around for many years to something thats been around for a decade. Different paradigms but imagine if your great grandfather handed you a boatload of *** stock he invested in from the beggining?

Commodities always perform well in a high interest rate environment. For the last 10 years weve had very low rates which benefitted growth companies but that wont last forever. Im thinking we will see interest rates start to go up next year and continue for awhile. Look how well Barrick Gold (and pretty much all energy/commodity companies) did after the dot com bubble. I feel that we are in a similiar time. Just remember everything goes in cycles

U mad you lost out on 1000x+ gains? How's your 401K doing? Enjoy your toilet paper dollar.

Smart contracts and decentralized money have real value in future applications to me in business as well.
No counter point to immersion cooling being an alternative to "the loads of power" crypto takes?

Bitcoin is not a hard asset, gold and silver are hard assets.

Look here for some stats on the energy usage -- its mind boggling (I had no idea it was this much till very recently)https://hbr.org/2021/05/how-much-ene...tually-consume

The immersion cooling may reduce some of the energy needed to cool the hardware, but there's still a certain amount of operations/chips that have to be used, no way around that

Maybe decentralized money has value in the future. But I ask why would it have to be bitcoin vs any other coin that exists now or will be created in the future. Or because the definition of decentralized, maybe there is no one coin and its like the tower of babel

BTC will go down to ~15k, mark my words.

lets hope so

To be fair BTC is used as a currency on the dark web so if you're in the market for a shoulder fired anti aircraft missle or a hitman it still has utility and will probably continue to be worth something.

its legitimately going to $15.00

15k is a pipe dream.

And yet they still own a % for diversification. I would say the same applies to crypto. You still never answered if you have read up on it at all to any extent?

Tell me this, do you see any benefit to being able to send a sum of money/value internationally around the world any day of the week at any time of day without a middleman? I tried to transfer $14k once just within the US and apparently anything over $10k my bank had to take extra time to process it for whatever reason and it took a week. Can only imagine the hoops to jump through to be able to send money to another country and the fees involved and the fact it probably can only be processed during work days/business hours.

Though I can transfer crypto from my wallet to someone elses wallet in 1-60 minutes. The issue is the world hasn't caught up yet. Not enough places accept crypto and or its not as convenient to exchange crypto for whichever countries currency you live in. But they already have credit/debit cards where the company will instantly convert the crypto value to cash value when you use it to swipe for purchases. Eventually this should be more common and money should be more free flowing and easier to move around at will.

And while i think BTC will always be a kind of "store of value" crypto, I also imagine eventually down the road stores and restaurants having their own cryptocurrencies they offer as rewards/loyalty systems where you buy their crypto, they get money, and you get crypto thats like store credit, but maybe they offer incentives like discounted rates or dividends in their crypto or whatever. Not sure how it will all play out, but i personally see a future for cryptocurrency being a major centerpiece of the financial system over the next couple decades.It doesn't have to be bitcoin. There is of course the very real chance something does overtake BTC as top dog and bitcoin fades. I just think bitcoin is the odds favorite at the moment as one of the ones that will stick around. Though as i mentioned above, i think there will be many cryptocurrencies that have a practical application to them. There will of course always be millions of trash ones, but there could easily be 1,000ish out of the 100,000,000ish that serve a real purpose.

Understood.....the way I look at it, these clusters will be put to tremendous use for future applications. Once the crypto is mined, it takes very little energy to transact on it.

Its doesnt necessarily have to be BTC specifically. Thats why in my responses, I typically say "crypto" and I have money in different forms of crypto but I typically invest it in the market leaders. Open source is one thing, but getting many people in unison to use it is typically the differentiator.

Lmao I don't understand the crypto hate. Even if you didn't make life changing investments there's easy money to be made.

I'm up about 15k since the doge takeoff and I haven't lost a penny. Am I crazy enough to sink my life savings? Fuk no. But I am down to make money as easy as making a few clicks,and thays exactly what I've done.

Lmao by all his recent replies on Twitter he’s just actively trolling right now

^^ this, balls deep if so dead fkin srs

To be fair I wouldn't fault someone for having a percent or two in crypto for the diversification aspect. But I think many of the crypto people are putting in much more than that

Re: benefit to sending money without a middleman. I don't know. At the surface level I suppose so, but I think the reason you see delays on anything over 10k is because the bank has to verify with the IRS and other regulatory stuff. I think there's value in that even though I know I'm sounding like authoritarian quack. If it were that easy to send money without any regulatory process, I think it could threaten the stability of countries. Which isn't good

But long before that happens, I think bitcoin needs to become a lot more stable than it is now. One of the qualities of a good currency is stable. Imagine if you want to the grocery store and everything costs 10% more than yesterday, then the next day 20% less. I think crypto is way too volatile to be a useful currency. And the reason its so volatile is because people view it as an investment/store of value than a currency

Gotcha, maybe one of these crypto currencies will become "it", but I don't think I would be able to guess which one it would be

[QUOTE=Thunder999;1638701913]Bitcoin is not a hard asset, gold and silver are hard assets.

Peter Schiff is a joke. Throw up the chart of Gold vs BTC, who has won each and every year? Not even close. In fact gold producers don't even want to hold gold. Gold market is still manipulated big time. Do some research. I'll remember to laugh when BTC flips gold's 10+ T market cap.

Agreed with your point about it being too early and stability being key for currency. Thats why you see me saying "i am betting on the future of crypto". I think right now its still very early days, and I think it will shoot up like a rocket, dump drastically and back up again many times over before it reaches stability. When all those factors happen, I dont know thats why I am DCAing in.

I also dont know which will be the "It" crypto. I believe there will be many that are usable. There isnt only one cloud provider. So instead of saying I am betting on Amazon 10 years ago, I would say "I am betting on cloud technology to be pervasive in daily business" whether it be AWS, Google, Azure, Salesforce, Oracle, etc etc etc.

So to this point, i will say cryptocurrency can be stable. Bitcoin is being used as an investment/store of value currently. Most people buy it with the expectation that it's limited 21 million supply will make it hold/gain value against government currency which is always losing value over long term time frames (years and years). There are cryptocurrencies called "Stable Coins" which peg their value to for example the USD where 1 coin is worth $1. Those can also be transferred pretty instantly globally.

As i mentioned, there are the companies that give yo debit cards now let you have your investment in bitcoin and instantly convert a portion of your bitcoin into cash when you swipe it to use it. Why can we not do that easily with stocks? Why do i need to always keep $5k in a checking/savings account? I should be able to use my stock value in such a way and easily pull my value from a stock for a purchase of goods. I should also be able to buy stocks 24/7, not just monday-friday 8pm-5pm just like you can in crypto. The financial industry is antiquated and i think modernization will eventually hit it.

Centralization has its purposes but there are a few areas where decentralization is the better option. There are also a lot of interesting concepts with the internet of things and tracking authenticity/quality control using blockchain too. The .com boom produced a lot of trash, but doesn't change the internet was around to stay for the long term and there were some very huge winners to come from it. I think cryptocurrency as a whole will be around for the long term, and some of the cryptocurrencies will be huge winners long term.

Why is every crypto shills response to saying it's a pump and dump or ponzi scheme that fiat currency is a scam?


A majority of people who buy crypto do so to make fiat profit. Also, most people who say it's a scam invest in stocks of companies that actually make provide goods and services to the world and isn't based on speculation. Another thing is that people who buy precious metals like gold, at least they have a purpose. Like you can make computer parts and semi conductors with gold. Finally, isn't crypto an unregulated market to begin with?

I made $4k off of crypto in the past but feel a whole lot better investing in companies like Google who provide millions of people with tools to make life better.

If you buy crypto like Doge and you think it's the future then there's no point of profit taking because fiat will be pointless.

Def agreed, and why I only invest in index funds vs individual companies/sectors

I think the growing popularity of index funds has its own set of major problems. In the future when a majority of amazon and google is owned by fidelity/vangaurd/schwab index funds who have no actual interest in the companies beyond selling/buying to match market weights. Suddenly they are not really competitors anymore. But that may be a topic for another thread

Fidelity does have a product awfully similar to what you described in the 2nd paragraph if you are curious. But not exactly. They have a cash management account (with a debit card and checkbook) that can be configured to automatically liquidate from your brokerage to cover debits

You might not be able to buy stocks afterhours since the exchange is closed, but there is early hours/afterhours trading which is pretty much the same thing (though I'm a complete noobie when it comes to stuff like this and can't tell you that much)

And agreed about the finance industry being antiquiated...the whole system of ACH is based off of trucks mailing tapes to a central clearing location. There's no more trucks/tapes but the system still works the same

There are number of crypto projects that provide real world utility (e.g. loans without ID). Smart contracts in general. IME many people think that Bitcoin represents anything and everything blockchain tech can do... Which is why I hope it gets flipped by Ethereum.

Digital ownership (NFTs) - it's much bigger that digital art, there are many things that can be done with NFTs. All gaming items that gaming companies make millions off can (and likely will) be turned into NFTs, and in order to use the items in game you will need to own the NFT. I've also seen companies working on using NFTs to verify ownership of high ticket items, real estate, etc.

Gaming is beginning to embrace blockchain tech, and will likely be the first part of the crypto industry to go mainstream, IMO.

Would be an interesting topic for sure.

At the end of the day, I think what makes most people hate crypto holders is the way they go about stating their position. Some holders will come out and say "I cant believe you are not holding any crypto, OMG.....did you see how much it has gone up etc etc"

That is also not constructive. People who believe in the future of crypto should put their money in. People who dont or have other ways they want to place their money....thats cool with me as well. I think those handful of people that talk like this are creating a bad name for all that believe in its future. And thats unfortunate.

FWIW crypto indices are beginning to emerge...

https://indexed.finance/

You can buy each index token on Quickswap on Polygon/Matichttps://quickswap.exchange/

This dip has reminded me to take profits and put them into one of the indices above.

Because you can buy cell tech and other party favors with penny stocks... lmao ok