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Honest, successor crypto-currencies, who work for their money will have to fight the fallout once the scheme collapses and people who lost everything demand gov

Honest, successor crypto-currencies, who work for their money will have to fight the fallout once the scheme collapses and people who lost everything demand government to regulate "rogue" currencies? Distrust will also prevent a whole generation of investors to invest again?

iso1631 6y ago
> Distrust will also prevent a whole generation of investors to invest again My parents lost a lot in the 2000 crash, so were spared from the 2008 crash. Between those two I decided buying shares was a mugs game (Nasdaq was 4000-5000 before crashing to 1300 back in 2000. It recovered to 2500 by 2008 before crashing back to 1500. It's now 14,000 - massive gains in the last 10 years I've missed out on because of not trusting. If you'd have bought $1k of Nasdaq and 1k of Bitcoin 5 years ago, you'd have $3k from nasdaq - an amazing return. I can sort of see why the nasdaq is so high though. Crypto though? That same $1k would mean you'd have $137k from bitcoin. If that's sustainable I don't know what unsustainable is. DOGE? You'd be a millionaire. But the political decisions of the economy seem to be built around driving these things up. It makes the UK house price boom of the 90s and 00s look tame - 500% in 25 years? A measly 6% roi? 25% per year gains on stocks, 170% per year on bitcoin? 300% per year on DOGE? In 2018 people were saying about tulipmania with bitcoin and how the price would collapse. It did. $1k invested at the height of the bubble in 2017/18 when it reached $20k - 20 times what it was earlier in the year, was soon worth just $150. It would now be worth $3k, 45% per year roi from investing at the worst possible time Putting a measly $10 a month into bitcoin every month for the last 5 years would have cost $600 and left you with $14,620 today. The market can remain retarded longer than I can remain solvent. The only thing I've learnt waiting for things to crash is that I'm an idiot, and people who fall for hype are rich.

iso1631 6y ago

> Distrust will also prevent a whole generation of investors to invest again My parents lost a lot in the 2000 crash, so were spared from the 2008 crash. Between those two I decided buying shares was a mugs game (Nasdaq was 4000-5000 before crashing to 1300 back in 2000. It recovered to 2500 by 2008 before crashing back to 1500. It's now 14,000 - massive gains in the last 10 years I've missed out on because of not trusting. If you'd have bought $1k of Nasdaq and 1k of Bitcoin 5 years ago, you'd have $3k from nasdaq - an amazing return. I can sort of see why the nasdaq is so high though. Crypto though? That same $1k would mean you'd have $137k from bitcoin. If that's sustainable I don't know what unsustainable is. DOGE? You'd be a millionaire. But the political decisions of the economy seem to be built around driving these things up. It makes the UK house price boom of the 90s and 00s look tame - 500% in 25 years? A measly 6% roi? 25% per year gains on stocks, 170% per year on bitcoin? 300% per year on DOGE? In 2018 people were saying about tulipmania with bitcoin and how the price would collapse. It did. $1k invested at the height of the bubble in 2017/18 when it reached $20k - 20 times what it was earlier in the year, was soon worth just $150. It would now be worth $3k, 45% per year roi from investing at the worst possible time Putting a measly $10 a month into bitcoin every month for the last 5 years would have cost $600 and left you with $14,620 today. The market can remain retarded longer than I can remain solvent. The only thing I've learnt waiting for things to crash is that I'm an idiot, and people who fall for hype are rich.