Originally Posted by
omegalul
I was but had to sell what I had due to hard times and having to pay bills. Hoping to save enough to get back in. My friend got into doge and I made fun of them, they're laughing at me now lmao.
A lot of crypto nowadays seems to be pump and dumps, it's more of a speculative investment in my opinion. people keep going around saying how it's a guaranteed thing, but nothing's ever guaranteed in life besides death and taxes. I believe in the blockchain technology but not necessarily individual coins/nfts. in my opinion a lot of NFTs are just easy ways to scam you out of thousands for a crappy jpg. I've done a lot of research in college regarding economics/currencies/etc and such, I think the minute countries start allowing you to pay taxes in mainstream crypto (eg. BTC, ETH, LTC), that's when things will start being validated and crypto will be considered a form of actual currency and will overtake fiat. but there's no way they do that in our generation, since there are billions of dollars sitting on the table riding on the fact that we use outdated systems (eg. why do we have to pay thousands to wire when we could spend dozens using crypto? because lobbyists for big corps want things to stay stagnant. eg. the material we use to make pennies cost more than what the penny is actually "worth", but due to lobbying it's messed)
so until that happens I personally view crypto as speculation, and people shouldnt invest in more than what they are willing to lose. ultimately people need to actually do their own research and personal risk tolerance/assessment before they jump into it. but they see youtube videos or instagram/tiktok ads and jump in due to FOMO, which is the worst reason possible because that's how you end up being a bagholder. what coins are you holding at the moment? been thinking about getting back in but havent had the time to actually sit down and read a white paper in years
Sorry for the wall of text, got a lot of old memories rushing back in lmao.