Sometimes I kick myself for not buying any BTC for the novelty factor...you know, back when the primary use was buying illicit substances online.
Then I realize, I would've sold it off when it hit $250 per BTC and I'd probably hate myself more.
Then I realize, I would've sold it off when it hit $250 per BTC and I'd probably hate myself more.
Still don’t regret it though because I know the next few years of my early 20s would have been spent tracking BTC like a bloodhound rather than spending that time on things I enjoy.
Then again I’m probably telling myself that so I don’t feel bad for missing out on 100s of thousands of dollars.
Most people buy lots of lottery tickets that don't win. What a waste of money! What a bunch of suckers! If only they'd been paying more attention to the lottery tickets that won, they'd be rich now!
Ethereum has the best fundamentals right now in terms of user adoption. It's transaction volume in terms of number of transactions is ahead of everything else out there. ETH has some technical risks though. It has uncapped coin issuance that is currently quite high ~14% and they want to switch from the proven proof of work mechanism to proof of stake and it isn't clear that will be successful.
Beyond that Bitcoin Core is crippled and everything else has pretty low adoption though some alts like Monero look like they might find a niche in dark markets where strong privacy guarantees are important.
At least that's how I see it. Don't know jack shit about cryptocurrencies, but this seems like basic economy.
Especially tulips that burn through soooo much electricity.
The longer you go on trying to call peaks and slandering crypto as "human stupidity", the more cognitive dissonance will form, followed quickly by the rationalizations needed to dispel it.
Everyone in hysterics about a bubble is every bit as foolish as those shouting about going to the moon. We've had over a year of steady growth punctuated with regular corrections.
Will there be a bear market at some point? Certainly. But the proof of bubbles is in the popping; major price action down to a tenth of the peak or so. That doesn't just happen because of a bull market, it happens in the wake of a major speculative wave or something that fundamentally compromises value.
My coins were spread across a couple of USB keys and a hard disk, all encrypted with a passphrase I thought I knew but that didn't work last time I tried to decrypt the hard drive. The USB keys went missing. I think my girlfriend's cats stole them. The coins were worth a few hundred bucks when I lost access to them. They'd be worth...well, a lot more, today. The hard disk is maybe still functional and somewhere in my storage unit, though I probably still don't know the passphrase. The USB keys are probably gone forever, as I've moved house twice since I saw them last.
It's pretty frustrating, but I probably would have sold the coins when BTC broke $1000, anyway. So, I would have made a few thousand bucks, tops. Honestly, while I still hold a little bit of BTC, I don't really believe in it. It is an environmental disaster, the fees have gone through the roof. It is difficult to secure; everyone says "Keep it in an off-line wallet." But, I lost all of my off-line wallets. The only BTC I still have from back then is in Coinbase. Keeping a physical item really safe is costly or just annoying. You need a safety deposit box, or a firesafe, to be really sure of it. Since I live in an RV, there's not really any way for me to be confident any coins of significant value in a physical wallet would be safe. I wouldn't keep a physical wallet with me any more than I would keep significant cash under my mattress.
That kind of thinking leads many people to speculate (not investing). I consider speculation to be in the same category as gambling.