Quote:
Originally Posted by Nachbar
I agree with you, nothing is certain.
But you are ok, that your FIAT is loosin value so extremely fast? I don’t like it at all.
And I wrote, that Bitcoin (NOT Cryptos in general!), is an insurance for me.
And I put only a fraction in this insurance (like any insurance).
But you insist, I (and/or) others are putzing life savings in it. That’s not me. Hope you got that right.
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You’re contradicting yourself. Your initial statement was that FIAT will eventually collapse, now you’re saying losing value EXTREMELY fast. Sorry but I don’t think the USD will be collapsing anytime soon. There’s enough value for me to live on for my lifetime. Can you tell me the same for BTC? Ask those 3rd world countries that adopted it how they’re doing.
No “smart” money wants anything to do with cryptocurrency. Cryptocurrency is generational. I suspect if you look at the correlation between age and crypto ownership, you’ll see that it’s the tail end of millennials and on that primarily own and believe in cryptocurrency. Incidentally, those are the same people that have less knowledge and education about markets, investing currencies/monetary policy, geopolitics and so on. They are probably the same investors who believe in meme stocks like GME. You don’t even need to be a sophisticated investor to know exactly where GME and BBBY will end up, certainly not at the moon, but the kids prefer to HODL, DRS, diamond hand and so on. A few months ago a few high school kids whose parents were renting the house next door wanted to look at my cars, so they started asking me what I do and if I invest. Then proceeded to tell me that they didn’t want to work but rather investing in BTC. I asked them to explain how it works and who uses it, they had no clue. Guaranteed, sometime soon they will open up Robinhood accounts to buy DOGE because the moon. I really think the vast majority of crypto investors are the same.