I could be wrong, but fairly certain we're talking about crypto in two different terms... you talk about it like a stock to invest in... and when you view it like that, I think we agree... it's a viable stock... it's a decent slot machine...
I'm talking about it in terms of becoming a widely usable currency which I don't ever see happening...
I'm pretty naive about this stuff so I could just be not seeing the bigger picture... I've never viewed my bank account as an investment in the US dollar, but again, maybe that's my naivete...
opelmanta1900 wrote:
I think I agree that we agree.
I only have a small amount in it as an "investment" as a side thing with my other play account which is all ETFs. Only about $500 total in crypto and it sits on the bigger names: Etherum, Bitcoin, Chainlink. Each of these do different things in the crypto/blockchain universe and are rather stable but often jump around by 10% on any given day.
Most of the meme coins are like doing penny stock trades and you can make money if you want to play the game. Seems like bgz and whistle do it that way. A couple coworkers do that too and have been able to harvest some money as of late. I don't have the time or patience to watch the daily/hourly up and downs to try to catch lightning in a bottle.
Re: becoming a widely usable currency. That will depend on the market. If a store or supplier or hostage taker will accept Bitcoin for payment, then it's a usable currency - government(s) be damned.
There are more and more companies willing to take Bitcoin as payment. Just last month PayPal started accepting Bitcoin an other leading crypto assets for merchant purchases with various vendors.
After all, a US dollar is only worth as much as what the other party is willing give you for it. "I'll trade you this piece of paper with a Dead President on it for a can of Coke." In Hockey Dad's universe: "Yo! Sanchez, I'll give you this stamped hunk of nickel clad copper for an hours work picking strawberries for me."
And for a Cliff Clavin-esk random fact: Did you know the US mint is used to store strategic metals for the US government? It's stored in the pockets of everyone here in the US - were talking pennies, nickles, dimes, quarters. Nickel and copper are considered strategic metals. We need copper for wires, many metal alloys and stuff (think brass & bronze for shell casings). We need nickel to make stainless steel and alloys turbine engines. At anytime, the mint can recall the coins and melt them down to get the needed metals. This is how we got the 1943 steel penny (WWII era).
Edited by user
5 years ago |
Reason: Not specified
