RainbowWarrior
Bluelighter
I've been bearish on cryptocurrency for a decade and the big drop and attendant Schadenfreude has yet to manifest. It's tempting to see people who bought early and held as being smart, but in retrospect, right and smart aren't necessarily the same thing. I still view it as a kind of tulipomania and the coins as intrinsically worthless propped up only by the madness of crowds, but I've yet to have the satisfaction of seeing those crowds lose their shirts. I don't know at which point my continuing bearish perspective ceases to be based on analysis (I still believe that a huge correction followed by a slow death spiral followed by a rush for the exit is in the future, I just don't know when) and becomes sheer cussedness. I sure was wrong back in the day. I thought the O.G. vendors taking BTC for drugs were nuts for not cashing out as quick as possible, lol.
Yeah i totally get that! For a long time i completely ignored crypto because i thought it was just a ponzi scheme.
But after i read at the end of last year that 37% of all existing dollars were created in 2020 by the FED i started to get a bit more interested in what crypto has to offer (hard cap supply, independence from governments, immutability, decentralised applications and organisations through smart contracts, worldwide accessability - there are actually billions of people on this planet who don't have access to banking, most of them do have connection to the internet though).
I have now a very different view about crypto. I still think a big part of it is a scam actually, but the central banks are the bigger scam imho. By the end of 2021 probably around 2/3 of the US Dollar supply will have been created in 2020 and 2021, and this is exponential growth. It won't be long and 99% of all Dollars will have been created fairly recently.
I try to hold as little FIAT as possible because it feels like it is being constantly devalued by them printing more. Of course i do not just hold crypto, but mostly stocks and real estate, but i do think that crypto is here to stay. I'm not trading it myself, just holding it as one kind of inflation hedge and because i believe that the brightest digitalised future is a decentralised digital future

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