/biz/ - Business & Finance

I write smart contracts, AMA

>when the other countries govs see that the chinese ban can actually halt kryptocurrencies
wat

crypto does not equal stock market for normies

that's a side effect of the recent years, which was unavoidable because humans are greedy fucks

currencies aren't assets

https://youtu.be/G5KxZ5Lc_YA

Can anyone answer a few questions about crypto? Total newbie here.
>shoot
Can you trade it/sell for real world currency or is it strictly for buying stuff online?
>yes
If you can sell it, how difficult is it to sell?
>entering two 1 number and clicking a button. Depending on your option, it's up to 4 numbers.
What's the minimum budget necessary to start buying and see good returns?
>What is "good"? You can go for 2% gains and do that several times a day. But that's a huge time investment and waging is probably better. There are also fluctuations of about 15% sometimes, but again, to catch them you gotta be online a lot. I suppose it's fun with 20k, but you can play it with 1k like a video game too.
Is it a worthwhile long term strategy or daytrading only?
>it's not gonna get away. however we can't say if the price atm. is accurate. If 1 BTC "really" is only worth 100$ from a product perspective, buying anything will be a loss now. The "problem" is that the coins are mostly treadet as a trading asset and there are only a few apps. It can go either way, but it's likely that this bubble will keep growing for another few years now either way.
If there is long term result, what timeframe is it generally speaking?
>Depends on mainstream adoption. There is a shitton of press since the Ethereum rise in May, so it looks vaguely good.
What is the overall risk in investing into crypto compared to regular stock/whatever?
>For the next few years I don't see it breaking. Don't get greedy or addicted, though. Know when to get out and let your coins sleep, if you feel there's a month long bull market.
It's pretty much a tax horror, though, although /biz/ generally looks the other way in that regard