nein51 said:

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muddybrazos said:

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nein51 said:

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boognish_bear said:

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I'm surprised it's even that high

FUN FACT: Less than 7% of the global population is invested in crypto.

— Watcher.Guru (@WatcherGuru) December 22, 2024

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That's because it's a 100% speculative investment. Crypto isn't "worth" anything. If you get past BTC and look at junk coins like Doge the metrics are terrible.

For most people owning crypto is like playing the lottery. It doesn't cost very much and there's a .00000000001% chance you get rich owning it.

Of all investments I would guess that crypto owners are the least investment savvy.

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I get what you are saying but you're just lumping all crypto in to one big pot. Meme coins are 100% gambling with no real world use cases but there are coins that have networks and real use cases. Ethereum, Solana, Chainlink, Internet Computer are all networks that are going to be the backbone of web3. All of these memcoins, online gaming etc work on these networks. Chainlink is used by Swift, DTC, Jp morgan Chase, Goldman, Blackrock etc to move money from the real world to the blockchain. The entire stock market will be digitized and run 24/7 like the crypto markets before too long. That cant happen without the use of Chainlink.

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Go back and read what I said at the top.

Blockchain is real technology and a real advance.

Bitcoin and ETH (etc) are, in fact great, in developing countries and for black market transactions but they are so far from being "money" it's not even funny. The mining also eats up untold resources across the globe and professional mining groups are essentially the only people that can make that work these days. .01% of wallets account for 60% of BTC. When you look at who owns the rest (of what isn't anonymous) it's almost exclusively large investment firms.

The remainder of **** coins are basically exactly that.

Finally, if there's any real value long term it's going to be CBDCs which are the devil for many reasons

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Lol, mining doesnt eat up 1/20th the resources as AI or even running the lights on the vegas strip. I still like to use cash and i dont transact in BTC or ETH (lr rarely do) but I do see the potential for these networks being the base layer for whats coming down the road.

muddybrazos said:

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nein51 said:

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muddybrazos said:

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nein51 said:

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boognish_bear said:

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I'm surprised it's even that high

FUN FACT: Less than 7% of the global population is invested in crypto.

— Watcher.Guru (@WatcherGuru) December 22, 2024

---

That's because it's a 100% speculative investment. Crypto isn't "worth" anything. If you get past BTC and look at junk coins like Doge the metrics are terrible.

For most people owning crypto is like playing the lottery. It doesn't cost very much and there's a .00000000001% chance you get rich owning it.

Of all investments I would guess that crypto owners are the least investment savvy.

---

I get what you are saying but you're just lumping all crypto in to one big pot. Meme coins are 100% gambling with no real world use cases but there are coins that have networks and real use cases. Ethereum, Solana, Chainlink, Internet Computer are all networks that are going to be the backbone of web3. All of these memcoins, online gaming etc work on these networks. Chainlink is used by Swift, DTC, Jp morgan Chase, Goldman, Blackrock etc to move money from the real world to the blockchain. The entire stock market will be digitized and run 24/7 like the crypto markets before too long. That cant happen without the use of Chainlink.

---

Go back and read what I said at the top.

Blockchain is real technology and a real advance.

Bitcoin and ETH (etc) are, in fact great, in developing countries and for black market transactions but they are so far from being "money" it's not even funny. The mining also eats up untold resources across the globe and professional mining groups are essentially the only people that can make that work these days. .01% of wallets account for 60% of BTC. When you look at who owns the rest (of what isn't anonymous) it's almost exclusively large investment firms.

The remainder of **** coins are basically exactly that.

Finally, if there's any real value long term it's going to be CBDCs which are the devil for many reasons

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Lol, mining doesnt eat up 1/20th the resources as AI or even running the lights on the vegas strip. I still like to use cash and i dont transact in BTC or ETH (lr rarely do) but I do see the potential for these networks being the base layer for whats coming down the road.

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Right, potential, so the value at present is speculative

I have about $30k in IBIT and a leap for a year from now. It's a trade, not an investment. I will sell calls against it throughout the year to get some income in the meantime.

I just bought $10k worth of ETHA today for a short term mean reversion trade.

hodedofome said:

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I have about $30k in IBIT and a leap for a year from now. It's a trade, not an investment. I will sell calls against it throughout the year to get some income in the meantime.

I just bought $10k worth of ETHA today for a short term mean reversion trade.

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Ive been doing the same but with miner CLSK. Miners have weekly options so thats been pretty fun. I may move some money into YBTC which is a covered call etf for BTC that distributes weekly.

pic.twitter.com/6zscRiUGT2

— Cydel (@cydelmg) December 23, 2024

For me, it's simple:

Never put your hard-earned money into anything you do not understand, especially the risk in doing so.

Anyone who tells you that [ ] Cannot fail is lying to you and anyone unwilling/ unable to explain your risk should be treated as a con man.

JUST IN: 🇷🇺 Russia announces 6-year ban on cryptocurrency mining in 10 regions, citing energy shortages.

— Watcher.Guru (@WatcherGuru) December 24, 2024

🎄 Bitcoin Price on Christmas

2010: $0.25
2011: $4
2012: $13
2013: $682
2014: $319
2015: $456
2016: $896
2017: $14,027
2018: $3,815
2019: $7,275
2020: $24,665
2021: $50,430
2022: $16,831
2023: $43,665
2024: $98,200

— Watcher.Guru (@WatcherGuru) December 25, 2024