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Topic	Are you investing in crypto? If not, why?
closetkpopfan 09/14/21 10:36:52 AM #15:	Squall28 posted... No because I want my investments to actually generate profits. If I own Procter and Gamble stock, I own a part of their business, and get some of their profit when they sell their goods. If someone goes out and buy Tide, that's money in my pocket. They're a self-sustaining business that makes money year after year. Crypto on the other hand has value entirely dependent on people's hopes. They buy it and hope it goes up. There's no underlying business. It has the same foundation as a pyramid scheme in that it only goes up due to trying to get more people to buy into it. It only gets money from its own members. Staking exists and generates income, and there are many places that accept cryptos as payment. Hell a country just adopted Bitcoin as legal currency, more countries will do so as things move forward. Crypto may not replace fiat, but its not going anywhere and is the future. Its not there yet and definitely is too complicated for most people to understand, but doesnt mean the tech isnt good and will do good things. Just using Cardano as an example, its goal is to essentially bank the unbanked. Think about countries in Africa with no banking or paper trails to prove ownership of land. That can all be stored on block chain and benefit millions of people who have corrupt governments and all kinds of other things going on. --- http://s1.postimage.org/fm1o7jxqn/secret.jpg http://s28.postimg.org/iyw1do0vh/Untitled.png http://s24.postimg.org/unjg0nrtx/1117615_1347687231256_full.jpg <cite>closetkpopfan posted [p:958042819] in Are you in... [t:79660950]...</cite> <quote>Squall28 posted... </cite> <quote>No because I want my investments to actually generate profits. If I own Procter and Gamble stock, I own a part of their business, and get some of their profit when they sell their goods. If someone goes out and buy Tide, that's money in my pocket. They're a self-sustaining business that makes money year after year. Crypto on the other hand has value entirely dependent on people's hopes. They buy it and hope it goes up. There's no underlying business. It has the same foundation as a pyramid scheme in that it only goes up due to trying to get more people to buy into it. It only gets money from its own members.</quote> Staking exists and generates income, and there are many places that accept cryptos as payment. Hell a country just adopted Bitcoin as legal currency, more countries will do so as things move forward. Crypto may not replace fiat, but its not going anywhere and is the future. Its not there yet and definitely is too complicated for most people to understand, but doesnt mean the tech isnt good and will do good things. Just using Cardano as an example, its goal is to essentially bank the unbanked. Think about countries in Africa with no banking or paper trails to prove ownership of land. That can all be stored on block chain and benefit millions of people who have corrupt governments and all kinds of other things going on. --- http://s1.postimage.org/fm1o7jxqn/secret.jpg http://s28.postimg.org/iyw1do0vh/Untitled.png http://s24.postimg.org/unjg0nrtx/1117615_1347687231256_full.jpg</quote> ... Copied to Clipboard!
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