Crypto threads?

[Anonymous No.16905619]

Why is this board mostly about virtual currency? It seems like an incredibly risky, zero-sum game to me. It least with stocks, actual value is being created when you invest in companies that have the potential to build upon their business bringing up net wealth.

Someone is always going to be the bagholder with crypto and at the end of the day, no value was ever created. Their are millions of these "currencies" that will probably never be used for the purpose of tender.

I want to be rich but I am risk adverse and a boomer who doesn't want to deal with the risky nature of crypto. What's a surefire way of becoming rich other than getting a good paying job and dollar cost averaging in mutual funds?

[Anonymous No.16905631]

>>16905619
*there*

[Anonymous No.16905656]

crypto creates value by being more efficient than current systems

[Anonymous No.16905666]

>>16905656
that's true but it's mostly seen as an investment opportunity by the average person rather than acting as currency.

I fully believe that crypto will replace currency as we know it in the future. That said, it just seems like a pump n dump penny stock scheme to me.

[Anonymous No.16905676]

>>16905619
you must lurk for 2 years before posting.

[Anonymous No.16905722]

>>16905666
Most of it is. If you're not just baiting I'd encourage you to do further research on the blockchain space, most of the shit out there isn't a 'currency' in the sense that it's trying to supplant the dollar, most are decentralized apps or platforms to run decentralized apps on.

ETHfags will argue that ETH IS MONEY, but it's technically cigarettes are money to. It's a commodity that has the properties of currency, but it's main use is the fuel for transactions on the ETH network. I think ETH will impact almost everyone but I'm not convinced the price will rise. I find it hard to believe that someone could really grasp the potential that smart contract platforms have not find something they think is worth throwing their money at.

[Anonymous No.16905730]

>>16905676
I have been luring here and on Financial Independence forums... Most of them promote mutual funds and saving aggressively and holding a job that pays well.

[Anonymous No.16905769]

>>16905722
I will but I don't think I'll invest in any crypto anytime soon. I know almost nothing about it and making transactions seems a bit sketchy to me.

I understand that it acts as a placeholder for money but isn't actually money as some people would define it.

Not shitposting, I'm not rich enough to sit around and shitpost all day, although I wish that were the case. I need to be rich

[Anonymous No.16905779]

>>16905730
well I’m going to give you the best advice you ever receive. go all in LINK and never, ever come back here, for any reason.

[Anonymous No.16905815]

Crypto "investing", if successful is like a shortcut to wealth. There is no other explanation needed. People want to be rich, and they want to be rich now, not later. They want that high of seeing the chart take off and their accounts grow exponentially. They don't want to work and strategize and build and slave. They want a million dropped into their bank account tomorrow. Crypto represents that possibility

[Anonymous No.16905819]

>>16905779
over the past 3 years it's been sort of volatile, are you meming?

[Anonymous No.16905844]

Crypto had a Beta near to 0 over different years. Its evolution is not correlated to stock markets.

Thats the point of invedting in crypto is to diversify your portfolio. Bitcoin being the asset of the century in terms of ROI also helps...

Also I tend to say that owning bitcoin is not risky.
Risky is not owning it, given actual monetary policies.

[Anonymous No.16905847]

>>16905619
Crypto is the highest risk highest reward market to be in. Nothing else even comes close except options trading

[Anonymous No.16905868]

>>16905815
Ah, so crypto is the result of the nigger rich phenomenon. It's a product of a result of people's desire to live the good life, tomorrow.

I completely understand that sentiment. Unless you're famous or a genius inventor, or strike it big in the lottery (crypto) It seems that we all have to work to some extent.

[Anonymous No.16905920]

>>16905819
just memeing ya friend

[Anonymous No.16905998]

>>16905730
>>16905868
>Most of them promote mutual funds and saving aggressively and holding a job that pays well.
Yeah and retire at 60 right? My deserved retirement tied with hip replacements, viagra and other enjoyable age related stuff
No thanks I want to retire as young as possible and crypto is the best way to do it
Its either get rich or become a neet die me, No inbetween wagecuck shit

[Anonymous No.16906004]

>>16905868
>nigger rich phenomenon

That applies to some I'm sure (blowing all their gains on useless luxuries and material items) but it really also goes back to the idea of needing money, to make money.

With mutual funds, index funds, real estate, etc. the more you can provide upfront (the principle) the greater your returns. Especially with compound interest. So not only is it a shortcut to wealth but it is a shortcut to maintaining and growing your wealth.

[Anonymous No.16906012]

>>16905868
listen faggot, ill make it easy for you
buy chainlink and get the fuck out

[Anonymous No.16906052]

>>16906012
Who tf talks like this?

[Anonymous No.16906088]

Okay, so having bitcoin make up 10% of my portfolio would make sense, it's a high risk investment but worth having especially after those 2 huge peaks.

[Anonymous No.16906142]

>>16906052
Someone who is fucking based.

[Anonymous No.16906160]

>>16905666
>>16905619
Crypto is still in early stages. People don't treat it like a currency because barely anything accepts it, and when they do it's always Bitcoin which won't be the currency everyone uses in the future because it's too volatile. This is also the reason everyone discussed crypto on here - it's an early asset so there's a lot of money to be made and the market has lots going on.

[Anonymous No.16906504]

>>16905619
1000000% in profit nigger

[Anonymous No.16906686]

>>16905619
Here is the honest truth
99% of crypto threads for small cap coins are scammers. Literally 99%
The bigger cap coin discussions are mostly intelligent discussions with the usual brainlets.
Stay away from small caps, 100% chance to get rekt unless you are high up in the pump group.

[Anonymous No.16907257]

>>16906686
this

but OP is a fucking brainlet that doesn't get what ETH or anything built on it does because he still thinks 'cryptos' are just bitcoin clones. faggots like that who are too busy to look into what any of this shit does are going to be unfuckably just'd