A few days ago I was talking about crypto with a family member and realized one of the biggest issues I have with the community, beyond that it was SUPPOSED to be a currency, you know, for aiding in the exchange of goods and services.
Anyways, it's this: nobody, and I mean this honestly, NOBODY has made thousands or millions off of this craze because they were smart (including me). Those of us who made any serious amount did so because we were lucky, end of story. Lucky to get in early (when it wasn't supposed to be a commodity), and lucky to sell before the various bubbles. Those who have "millions" in BTC and ETH right now? It's meaningless until they sell it and none of them know when to sell it. Candlestick graphs, trends lines, volumes? They're all a smokescreen to make it seem like they're stock brokers in a normal market, but it's not a normal market and they're nothing more than glorified day traders gambling that they'll be able to run out of the building right before it collapses again. And some will, but it won't be because of skill, it'll be because of luck.
Anyways, it's this: nobody, and I mean this honestly, NOBODY has made thousands or millions off of this craze because they were smart (including me). Those of us who made any serious amount did so because we were lucky, end of story. Lucky to get in early (when it wasn't supposed to be a commodity), and lucky to sell before the various bubbles. Those who have "millions" in BTC and ETH right now? It's meaningless until they sell it and none of them know when to sell it. Candlestick graphs, trends lines, volumes? They're all a smokescreen to make it seem like they're stock brokers in a normal market, but it's not a normal market and they're nothing more than glorified day traders gambling that they'll be able to run out of the building right before it collapses again. And some will, but it won't be because of skill, it'll be because of luck.
Bitcoin should be seen for what it actually is: a damning commentary on the desperation of average citizens in the Western world who have no trust anymore (for good reason) in the financial markets but who are willing to dump money into anything that seems like it will have a high enough ROI to help them overcome their systemic social immobility. That, and it's also a game played by wealthy interests around the world (especially in China) to extract money from the environment/power plants and these desperate middle classes.
"But it is beyond the control of governments to regulate it!" Um, yeah dude (and honestly, why are you ALWAYS a dude?), I don't think you've been paying attention the past four years... Regulation has not turned out to be the impossibility we thought it was for any government.
"It breaks the monopoly on banks! We don't need them and their price gouging to send money anywhere in the world!" And in response to this and other market forces banks have slashed transfer costs to be lower than the inherent costs of sending BTC anywhere. AND they do it without using an Argentina of electricity every day (seriously, we should not be using countries as a metric for power usage for anything other than countries)! And banks do a lot more than wire money around. When can I get approved for a loan via Ethereum?
I loved the idea when it started. I bought and sold BTC as a currency because I loved the libertarian idealism of the early community. But it was broken even back then, before I and others moved on to earning money through the modern Tulip Mania. Don't get me wrong: I LOVED my trip to the UK that was funded by BTC and ETH with much left over. But I'm cashed out now and I don't advise anyone to get back in.
"It breaks the monopoly on banks! We don't need them and their price gouging to send money anywhere in the world!" And in response to this and other market forces banks have slashed transfer costs to be lower than the inherent costs of sending BTC anywhere. AND they do it without using an Argentina of electricity every day (seriously, we should not be using countries as a metric for power usage for anything other than countries)! And banks do a lot more than wire money around. When can I get approved for a loan via Ethereum?
I loved the idea when it started. I bought and sold BTC as a currency because I loved the libertarian idealism of the early community. But it was broken even back then, before I and others moved on to earning money through the modern Tulip Mania. Don't get me wrong: I LOVED my trip to the UK that was funded by BTC and ETH with much left over. But I'm cashed out now and I don't advise anyone to get back in.
@tom Am I just mad because I can't buy a GPU? Sure, if that's what you need to hear me say to ignore me then go ahead. I _am_ mad that I can't buy any GPU.
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