Topic: Buy Crypto Or Have Fun Staying Poor! - page 8. (Read 1251 times)

When i used the word "cryptocurrency" I didn't mean cryptocurrencies in general, I already know that most crypto coins and tokens are scams, some fake and others rug pools.
But what I expect of me, you and every one else is to know the right cryptocurrency to invest in that will guarantee profit at the end of a certain period like every year or maybe 6 months.

One way to know that fiat are useless is to keep $100 usd in fiat and buy $100 usd worth of the right crypto coin(it must not always be bitcoin, there are several other very legitimate cryptos out there), now, give both 10 years.
In 10 years time, your $100 usd in fiat can not by you a car(under no circumstances will it) but your $100 usd in the right crypto coin has a very high chance of buying you a car (might not be your dream car but it sure can buy you a car).

Never stretch your finances too much... but I guess almost anyone can afford to buy some crypto and put it on a side! People who have done that in the past 10 years don't regret it, while fiat is losing value some cryptocurrencies made new records!
I guess that headline is a bit hard, people who don't buy crypto will not stay poor, but with investing in crypto it's like you have something that can be very desirable in the future... as much as some people would like it different, future will be all about digitalization, metaverses, and all that stuff... and crypto is all about that!

The first thing you must understand is that there are quite a lot of crypto's, some of them are shitcoins, pump and dump coins, coins without any use case whatsoever, etc, thus many of them are not even in any way worth hodling whatsoever, having said that, I know there is Bitcoin that can serve as a hedge to Inflation, and as far as I'm concerned it's somewhat one of the very few coins that's actually great to hodl as a currency, hedge to inflation, investment, etc.

Having said that, my point is that even crypto is not a safe heaven, and one needs to still apply caution in the market, for example, you must only invest what you can afford to lose and choose your coins wisely. Of course Fiat inflation is becoming a very pressing issue, and it looks set to get worse by the day, Bitcoin is definitely a great hedge, but just mind you that it is not a safe haven, and do not also think other cryptocurrencies are as well.

Cryptocurrency is a general word that includes all crypto in it. Keep in mind that 99% of today's crypto should get a good analysis before you start investing, 1% of which might be good for your investment in the long term. Investing in cryptocurrencies will not guarantee that you will be rich, meaning there is a possibility that you will be much poorer after investing due to poor asset selection. Even if you really believe in bitcoin right now, then that also can't guarantee you to be rich in the future because we all never know what will happen to bitcoin in the future. Make sure you have considered all the risks and still make sure you invest the amount you can afford to lose.

Indeed, in the last 11 years this investment has been very profitable, especially bitcoin. But you also have to believe that all of them should still care about the security of their crypto assets (wallets). The success of your investment depends on how you manage your portfolio and how you keep it safe from various risks.

Investing in cryptocurrency does not mean becoming rich. So everyone would be interested in investing in cryptocurrency by selling all their assets. With this little risk, everyone would become rich. I do not deny that investing in cryptocurrencies is not profitable, but whatever we do, we should think carefully.

Indeed, investing in crypto is a good thing. It has a lot of benefits most especially now that the innovation and technology is fast advancing and the inflation is getting higher and higher each year. It's much better to put your money in someplace you can trust and rely onto. Since the economy of each country is not the same, it's ideal to put your money to where it is safe from being devalued over time. Putting your money in a bank or just holding it by cold cash isn't really a smart move to do. If you have the means, the resources, and the knowledge and skills needed for someone to store your funds in crypto, then do it. Not everyone has the same luxury as you do and you must take advantage of it as long as you can. Not everyone is as privileged so, be thankful and utilize what you have to your own advantage that your future self would thank you for.

If you don't have the means yet to be able to invest and store your funds in crypto, you can try other things first and then later on when you already have the resources needed, you can invest and make crypto as your store of value. Since not everyone is fortunate enough to easily do what they wanna do, you can take it little by little. After all, in crypto there is no discrimination and there would be no judgment no matter what bracket of society you belong to.

Buying crypto cannot guarantee anyone to become and it's just a way to invest money just like gold and real estate the main difference is about the risk level and anyone can choose a market depending on himself, for example, some people cannot accept too much risk in their life and they will choose another asset like gold surly they will accept less risk and as result, they will get fewer profits as the rule says to take the risk to take the reward, buying bitcoin and other cryptocurrencies make people rich and I would call them new rich generation because this will make people rich in a short period of the time.

The words are fact.I had seen many people who is poor and became a middle level and upper level from poverty line.Only thing is, they need to buy a good amount of crypto at the price of dump one. If you buy maximum amount of count will be good. When people found the high value in the market. They need to fix their mind with minimim profit and get huge from it. Nearly 70 percentage of poor moved to normal level from their poor stage.

If you say the financial markets don't care about Covid, you'd be wrong. The financial market in this case is banking, especially the central bank said that their policies are focused on economic stability during the pandemic, but in my view they are doing the opposite, such as printing large amounts of money. Capital market conditions also had an impact due to the pandemic, companies in the medical sector experienced a significant increase in the value of their shares, so it is hoped that ordinary people do not need to save in fiat.

Taking risks on something we have zero knowledge is also a bad decision that is why I said it may not be suitable for everyone. But once they're into the field they will gather knowledge, experience with ups and downs will teach a lot of things for them then they will surely excel in what they are doing.

Great warning, Who would want to be poor?

Buy Bitcoin and not buy crypto, there are lots of them that aren't going up. Some cryptocurrencies actaully are just like fiat which ist value is draining just like fiat which its purchasing power diminishes over time.

I wouldn't be surprised if President Biden really will say Buy Bitcoin in public especially when he is just too vulnerable to repeat what other people will say to him. Just when someone says GO Brandon, he also said " I agree, Lets Go Brandon"   Here's that video https://www.youtube.com/watch?v=ETmlD0l4T3Y

I am with you that the dollar and fiat are inflated daily and lose their value, it is also true that replacing them with cryptocurrencies is the best solution, but we cannot generalize about all cryptocurrencies, there are some cryptocurrencies whose value collapsed completely within a short period also there are hundreds of fake cryptocurrencies that appear Every day without value and without any project or any future, this saying can apply to Bitcoin and the first-ranked currencies in the market that have proven their existence and maintained their value over the past years.
Daily we see the collapse of dozens of shitCoins on Coinmarket, so you must be careful when saying such talk about replacing fiat with cryptocurrencies.

Inflation is nothing new. Sure lots of money was printed but the fed is doing tapering and we are going to get lots of fed rate increase this year.

We already see that the financial markets don’t care about covid. So I don’t think the fed is going to reverse their decision. With this we should see inflation go down within the next year or so.

What will happen with stock market or crypto, nobody knows but inflation should go down to the 2% annual rate.

You have a point since we are not the same but knowledge is power which its makes you outstanding to everyone. All people are the same but when you have a knowledge this means that you will Excel to others. But taking risk is the key since if you dont take risk you will not earn a single money

I respect the statement but we can't expect everyone to become an investor, not every fingers looks same right? People who bought it in 2010 became billionaires now if they are still holding but its not only limited to cryptocurrencies just buy anything which has appreciation of value by years so all we need to know what is an asset and liability which is what keeps the people being rich or poor.

Well some people get rich from doing corruption in government , many middle income people just do work then get home and then get loans and their life just like that for years because they already feel enough from what they have like a stable income and simple life. Some people who already invest in cryptocurrencies had losses because they sold when the bear market happening and they blame cryptocurrencies for scam etc.

Sorry to burst your bubble but not everyone can buy cryptocurrency even if they want to and even if they see the opportunity in it, some are so poor that all the money that they got is going to be used to survive this month and hopefully stretch it towards the next month. Maybe if you've lived in an underprivileged life, you would know that this isn't going to be the case, everyone wants to get rich, it's just that they don't have the money or means to do so. Be a little sensitive sometimes OP.

Basically, nobody gets rich If they don't want to engage in any investment including crypto. If they keep on working for their day job, nothing will happen but your financial status will always come in circle.
Investing in crypto doesn't guarantee that you're going to be rich in the future, especially when you're not doing a good research to the crypto that you're invested.
Bitcoin could be an exemption as it has been constantly increasing it's value, but the problem is some thinks Bitcoin is way too expensive to buy now.

If you do just look around then you would really able to find out things which would really be worth for you to invest on even into those years where crypto hadnt existed yet.
There are lots of traditional investments which could really give out the chance for you to be financially free but of course this isnt something simple that you could able to
achieve yet this do involves investment and proper handling out of finances.This isnt something simple that you should put then wait for money to grow.LOL!

I would say that 1913 to today salaries did not change as well as it should. The reality is that people in 50s and 60s worked in silly jobs and still managed to buy a house. Tell me, what are the chances of a 30 year old to buy a house, all debts paid off? I can tell you that it is near zero except a few very rich ones.

Definitely there are rich people in all generations, Mark Zuckerberg had billions before he was 30, but do we base the whole generation on that? We have people who are at great jobs who still fail to buy a house, even software developers who are seen as one of the highest paid people end up not being able to buy a decent house, maybe a 1 room apartment but that's it. So, there is something going very wrong with this calculation.

House is just one example, from school to medical there are many other sectors that we can take a look at. What got better? Working conditions are definitely far better these days, and tech is better too so you get more help instead of doing manual labor all the time.