Read Millionaire Fastlane
I've Read UNSCRIPTED
- Aug 27, 2018
Difficult to say. I think mass adoption of Bitcoin as a currency was never likely. It can store value well ... like gold.Thanks for your response, brother.
Answering to your question: I'm putting money that I am "okay" with losing, so any potential losses of 60-80% would be swallowed and I would learn a lesson.
But as I'm planning to have the other 50% of my networth in fiat, hopefully I wouldn't have to liquidate the loss in case of a temporary crash in prices.
Now if BTC comes to an end, like in the scenario you articulated, I'd be with my eyes on the market to jump out before the train falls off the cliff.
My plan is to take profits regularly (on the bulls) so I can compensate for that.
BTW... What do you think is most likely to happen in a near future? Mass adoption of BTC/other cryptos or BTC coming to an end?
I think that all this news about big banks and big companies signing contracts with blockchain technologies may be a indicator that this is the future.
So I'd ignore when PayPal allows people to pay with Bitcoin and listen when big investors put money in Bitcoin and hodl.
I do like the odds of Bitcoin as a store of value and Ethereum from the technological standpoint (and maybe Ether as a currency - because it is not designed to store value via its stock-to-flow ratio plans).
Bitcoin and Ethereum have serious communities behind it ... some other coins go for the more professional looking / polished brand, but I don't think that is a winning strategy.
But when it comes to the math as an investment vehicle ... I become careful.
Imagine you put $1000 dollar in and you have a 50% chance of it going to $5000 and a 50% chance of it going to zero ... then it is an okay speculation option but no reasonable investment. I am not convinced that the odds are much better than 50%. It is up to very few big players if Bitcoin succeeds or not. There might already be a plan in place - it could all be rigged. That is why I personally have less than 10% in Bitcoin and Ether right now. I also regularly check DeFi Pulse | The DeFi Leaderboard | Stats, Charts and Guides to see how the "value locked in defi" develops over time. I might become more aggressive, but new input must trigger such a shift.
Don't like ads? Remove them while supporting the forum. Subscribe.