I'd say I'm more of a Conservative that supports a lot of Libertarian policies. I do believe some regulation is good in order to protect everyone from abuse. I'm more against the regulations that overdoit. I'm also against environments that are completely devoid of all regulations such as the crypto scene. I think it's slowly changing but to me it makes zero sense that Elon Musk can influence the crypto market with the whim of a tweet. I'm not gonna go outta my way to bash him because mans making money even if he's manipulating innocent lemmings. However, that kinda stuff is not as present in the stock market outside of hedge funders doing their little thing.

Fiat Money as you mentioned is still backed by the many Governments of the world. Governments=Country=Economy=Assets. Hence, the value of Fiat currency is centered around the trust one has towards the governments ability to ensure long term growth and the perceived value that fiat currency has. Or in simpler terms the USA has the ability to project force and can determine what it's currency is worth. Bitcoin has no such thing backing it.

I think a lot of the folks who bash the US dollar are products of the late 2000's and early 2010's propaganda. Economies go up and down. People become rich and poor. It is what it is. Supporting crypto currencies that are made by shady individuals is not standing up to the system. The system works just fine. It's not the systems fault that most people are economically illiterate.

Edit: I may come off as harsh in my replies but thats simply because I personally believe that the stock market can give everyone an edge in life. The pie is not shrinking. The pie is always growing. The shrinking markets or shrinking profits theory is and was a propaganda tool peddled by national socialists.

He has to go? Wtf does that mean? So the dude stops shilling for BTC and all of a sudden he is a villain? You guys are fuking cult I swear.

So you just said fiat currency is centered around TRUST someone has in the government. So the center isn't around the paper money being actually backed by real assets but trust? Because lets be clear, the government can't actually pay all it's debts. There is a reason the debt only climbs. Also the value of the USD has declined year after year after year after year. It buys less and less and less.

Meanwhile, bitcoin went from 20 bitcoins buying a pizza to 20 bitcoins buys a mansion. 10+ years of growth. An earlier post you said "bitcoin you need someone to buy it on the other end, stocks i just sell it and boom!", which was an odd statement as stocks you ALSO need someone on the other end. Sure there isn't as much liquidity in crypto as the stock market, but there is still a very high amount of liquidity and i can easily sell my crypto at a seconds notice without any effort.

I don't disagree people should ALSO invest in the stock market, but you make it sound as if its impossible for the US or Canada to suffer the same economic collapses that every government/nation in history has suffered before them.

Whether its 200 years or 2,000 years eventually sh*t hits the fan, way worse than just a 2008 type recession and all the pieces come crashing down. But usually it only happens to a few nations at a time and other nations take more power and become the new dominant force. In those instances, having something like crypto that isn't tied to one government and can be cashed out in any nation easily is a very beneficial hedge to have.

FYI the average empire only lasts 300ish years and USA isn't far away from approaching that number. So just never know if this is another temporary tumultuous time for the country or maybe it will be the one that breaks the camels back. Doesn't hurt to diversify though and to include crypto in that portfolio.

It doesn't matter if the government can or cannot pay it's debt down. Who's gonna come and collect their money from Uncle Sam? I used to think it was all doom and gloom until I realized nobody and I mean nobody not even China will ever knock on the US's door and ask for it's money back. The world of 2021 is not the world of 1939. We are not living in the Roman Era where trade is super limited. People know the US economy has a chit ton of assets propping it up. We did away with the Gold Standard because Fiat money was more efficient and because it meant faster economic growth.

The value of the USD goes down yes but thats a by product of excessive government interventionism and a growing economy. 1$ in an economy that is worth 1 trillion is not gonna be the same as an economy that is worth 21 trillion dollars.

To conclude, I'll stick with my investments in the stock market where I know it has delivered results over the many decades. People have been saying a crash is coming for at least a decade now. Whether it comes or doesn't is not that important. Things always recover and economies change. The USA isn't the manufacturing giant it used to be and that's because the world isn't a hot mess anymore post WW2.

I see your point, but crypto’s are definitely gaining more and more traction.

Shopify merchants are now able to accept crypto:https://help.shopify.com/en/manual/p...cryptocurrency

What would happen if parts of the internet were cut off from each other for a few days or longer? Like if a bunch of transatlantic cables got cut or if China flipped the switch for a week.

Cryptos have a place, there's a demand for some place to park money if you're a Chinese nationalist trying to evade the govt or something like that. But BTC is not it. Too much energy, long transaction time, wild swings in value, large whale holdings, bot manipulation, huge unweildly blockchain. The coin to succeed will do away with speculation and try and get a consistent price as currencies are supposed to

If an EMP happens we all will have a lot more to worry about than cryptocurrency.

I was just thinking the other day about the stuff we take for granted, like a constant and reliable source of energy and clean water


Imagine just losing constant electricity and how much in our lives would become obsolete as a result, chit is crazy to think about

LMAO OP is furious that he is too poor for crypto. I will give you a look at the YTD gains on popular cryptos thus far:

BTC: 356%
ETH: 1,500%
MATIC: 8,500%
ADA: 4,000%

Stay mad, Stay Poor.

Most people should stick to the 2% 30 year T-bond market.

^ this

Whenever someone points out BTC is down 30% after being up 300% you can tell they are retarded and max level cope.

lmao what are you 12?
I've lost hundreds of thousands (of unrealized profit)

They already exist, they are called stablecoins. You can find them pegged to USD, GBP, HKD, AUD. Some are backed by real world reserves (or partially), and some are pegged by algorithm and smart contract (that automatically sells, mints, and burns supply, etc, to keep the price stable).

It will take higher market caps for the other cryptocurrencies to stablize, we are still in the early stages.

A lot of people (people ITT it seems) are unaware that you can convert USD to USD stablecoins, and make money lending them out or providing liquidity on decentralized exchanges. For a much better return than a CD, Bond, etc.

That's great if you bought in before the 300%+ rally. If you bought after that rally and are now on the downswing, you know how much further it can potentially drop

LOL you are too funny. You seethe of anger. You make statements like "people that bet their whole life savings on crypto" or things like the above.
I think what is happening is people that are trying to build their worth the traditional way (no issue with this btw as I am in that camp for a large portion of my funds) see people making a killing in the crypto market and deep down inside they get angry. Then they lash out about how you must be stupid to put any money in it even though they have been making a killing over the last 10 years. Most people that are well off blend their money. They set aside a percentage of their money and place them in speculative plays.

Look at the flip side. I am not angry of the fact that you are not a believer in crypto. I actually have no care in the world whether you believe in it or not.

You could say that about literally any asset on the stock market, real estate market, etc. Things go in cycles. Right now, ALT coins are on a rip. Eventually BTC will come back into the cycles and rally again. Also, keep in mind most of these coins are owned by retail investors. Once Institutional investors adopt crypto and start offering ETF's, etc. things are going to be VERY painful for non coincels. Also, if you are too afraid to invest in crypto, no one is twisting your arm to do so. Stick with stocks, mutual funds, etc. Seems like the most outspoken people against crypto love to hate it, but secretly wish they would have gotten in "early" which is why they can't stand it. They are uneducated regarding the metrics and also furious that they have missed the boat. In reality, MATIC has still seen a 78% gain this past week alone (with the drop in BTC mind you). ADA has had a 17% run, and BTC is down 24% today. If you bought at the top (60,000), of course you are going to be mad. Same as buying Tesla or NIO at the top and watching them crash over the last few months. Eventually they will come back into popularity and go up. I was buying oil stocks last year when they all crashed in march. Look at them now, a year later. Same with Cryptos.

Educate yourselves on the non BTC options if you are worried about being late. Lots of opportunities still exist.

edit^ wizard

Well you could join Michael Burry and co



$530m worth of puts on Tesla.

https://www.zerohedge.com/markets/mi...flationary-bet

I don't actively look for x100, I'd be happy with x5, but I just know the chances are there. I also don't have risk as much money to make good profit. If you put $3k into Eth back in March 2020, you'd have over $90,000 right now. Small risk, big reward. Just invest what you're willing to lose. As for stocks, they are slow as **** and still requires a lot of due diligence. Stocks, 401k, etc. It's just old boomer ways, hoping you have enough to retire at 65. Hell some states may not even be able to pay all the retirees.


What you also don't seem to realize, regardless of everything, is average folks have made a lot of money off crypto and are paying off student loans, credit card debt, & buying houses all within 2-3 years. Usually it takes much much longer to finally get out of debt and buy a house. I can't blame anyone for jumping on the crypto train.

I love Elon for destroying crypto shills srs

But you're ok with government giving away tax dollars to those who don't deserve it? Those crypto shills aren't effecting your life in the least bit.

The average joe has a chance to make real money to make their life little bit easier, but it seems a lot of you are against it.

Been watching crypto since 2017, I already own a tiny bit of Eth but only bought it to experience the environment

Also bought oil when the pandemic hit but that’s something I fully understand. Not everything that goes down will come back up over the long term!

The average Joe will get fuked by the crypto schills

If its any consolation coincells, many markets are bear right now. For instance lumber is crashing

I've been thinking about buying Ethereum for weeks now...i finally pull the trigger yesterday, and Elon literally goes potato minutes later

If you are worried about the price day to day then this might not be the investment for you (unless you are looking to trade it actively)
I simply put money into it monthly, transfer it to my hard wallet and forget about it.

I'm against shilling FYI. Elon is the kid who got bullied in school and taking advantage of his newfound power he never had.

Well the average joe better learn, the internet is at our finger tips, there's no excuse. If anything invest what you're willing to lose. Worse case you're lose your investment but you're still financially sound.

Dollar Cost Averaging is always the lowest risk way to invest.

HBB explains...