Look everything is a bubble of sorts. Crypto has so many fascinating components if you take the time to separate the jpeg rocks from the real world use cases like giving creators their rightful share of profits by removing unnecessary middlemen, proof of ownership with nfts (house titles) and faster/cheaper payments (families sending money back home). No Dogecoin is not where it’s at and no one really thinks bored apes are anything more than a yuppie frat club; however, this space IS a disrupter and I’m here for it. It caters to inclusivity, ownership and efficiencies. If you’re curious enough to look into it, welcome and DYOR :-)
10 replies (most recent on top)
I’ve been reading this years Messari report this week and definitely recommend. It’s an a-z discussion and fantastic read if you’re remotely curious, seasoned or hater
https://messari.io/pdf/messari-report-crypto-theses-for-2022.pdf
Governments / central banks are royally and perpetually screwing up their own currencies, and their attempts to control every single aspect of our financial lives is what motivates the move to crypto. They literally brought this in themselves and have no one else to blame. Gov will resist, because they like their monopoly and they have a lot of means/motivation to do so. It will be an interesting battle. I haven't personally invested in crypto, mainly because I didn't start at the ground floor. so I missed the awesome gains already and am not sure that kind of growth will continue unabated. Bitcoin is down about $20,000 since the recent high. It might jump right back up, but the point is, now that the "d-mb money" is headed that way, it's less attractive.
I don't like bitcoin one bit. It devalues the US dollar in monetary amount and as the ideal world wide standard of exchange. Unfortunately, that is exactly its appeal to too many. And it certainly has found its fair share of fools. Its mobility and growth has not put Wells in good light, nor mny other large scale US based banks.
NTFs aren’t art and Crypto isn’t real money. It’s all a scam based on a shared delusion of value. I have a rock I found. Does it have value because I say it does? Total ponzie, fantasy, grift. Instead of pyramid schemes, play fantasy football or online poker. Your chances of a return are better.
It won't be a bubble because people are tired of working 9-5s and putting up with sociopathic executives. Many people still haven't returned to work although unemployment has expired. In many cases Van life and down sizing is becoming more and more popular. Gen Zers are saying "Nope" to high stress, high paying jobs.
The culture is changing and as a result I believe Crypto will continue to be popular.
Digital ponzi schemes aren't really doing anything revolutionary. It's digital gold at this point, people want it to have value, so it has value.
For last 2 years I've been buying very small amounts of bitcoin, 100 bucks here and 100 bucks there. This strategy paid off. Bitcoin has been around 14+ years and it whithstood hacker attacks, government bans, FUD, etc. It keeps coming back because people want it - it's a no brainer for me.
Now, the rest of crypto is a mostly junk.
Both bitcoin and crypto are here to stay, the genie is out of the bottle and things are accelerating in the crypto world. We live in a digital world but are still trying to force a centuries-old, financial system on top of it. The biggest draw of Bitcoin is that it decentralizes finance and cuts out all the politics and middlemen; so even if the central banks come up with a coin, they would simply be providing a digital version of the same problem. It was like how when the cab drivers tried to come up with an app to beat Uber and Grab. That was never the edge that ride sharing brought in.
The power was in the peer to peer model. Just like how the rise of Bitcoin and other cryptos is not fueled by convenience, but rather from the idea of a P2P encrypted platform that has the power to not only safely store our digital assets, but restore our personal sovereignty as well, which, like inflation, has been leaking year on year with our rise in digital dependency.
Inflation.