So after following the thread for a few weeks (with intrigue) and doing my own research, I still believe cryptocurrency is a whole lot of nothing.
The only potential I see, which is what most people in here seem to be doing, is day trading for the short term. Bitcoin is hyper volatile and the average person would be crazy to invest long term in this, if they even have heard or understood it.
Bitcoins are not leveraged against the survival of a governments ability to borrow in the future or any tangible assets.
Without any sort of guarantee they are only as valuable as the market dictates. It's an emotional market of lemmings right now (evidenced by
ksteezy
thread presence). They are like buying a stock from a company that does not have any intellectual property, physical property, which also produces nothing. These are hype coins.
If consumer confidence in bitcoin falls, it will vanish without any chance of return for those who invested.
I'm just curious who here has actually been smart enough to cash all out at the highs and not just reinvest back into a new coin, but invest in something else real? If everyone is getting rich off and winning off crypto, then who are the losers?
Great opportunity for short term day trading (if you have time) and scam artists. If I could buy bitcoins straight cash I would revisit getting into it. If I have to purchase through an app linked to a credit card or checking account these are not worth it for me.
Before you all get upset like last time I shared my opinions. Remember they are just my opinions I'm not attaching anyone in here and still think this is all very interesting to watch. It's just not for me and don't think it will ever catch on to be anything that is agreed upon by society to have real value. The only value crypto has now is what people think. Yes there are many people agreeing it's valuable but many others don't even know it exists.
Now to figure out how to short this bubble with real money...that's my plan.