Current Events > It's crazy to me how many people "invest" in crypto without understand

(+) Yeah! (+)

ing what it is that they're even buying

you're buying a currency, and there are two good signs for the value of a currency. Stability and predictability, none of these coins have either.

It's fine if you want to buy them and gamble with your money, but just be honest about what it is. you're taking a big risk and hoping for a big payout. That's not investing, it's gambling on speculation.
---

Youre jealous you didnt make any money out of them.
---

While you bring up good points there are plenty of tokens that power technology and ideas beyond currency. The developers themselves have a large stake and by trading into the currency you increase its value, thus giving the developers more incentive and time to work on their project which in turn increases the value more (see: investing).
---

lol buying crypto instead of mining it

I mean, it's not even currency. No one would ever try to buy anything with it, being as volatile as it is.
---

I just think crypto is the future so I bought mine and am holding onto for at least 5 years
---

Solid Snake07 posted...

you're buying a currency

To most people who are day trading/ month trading, it's function doesn't matter.

Very long term investment, I agree with you that especially BTC isn't sustainable.
---

DeanAuryn posted...

Youre jealous you didnt make any money out of them.

I've been investing for a decade now and have done very well for myself. And I've missed out on a lot better investments that made more sense than wildly volatile currencies most people don't even understand. Every investor has.

Just pointing out a reckless behavior with money that a lot of Americans have become known for unfortunately.
---

CapnMuffin posted...

While you bring up good points there are plenty of tokens that power technology and ideas beyond currency. The developers themselves have a large stake and by trading into the currency you increase its value, thus giving the developers more incentive and time to work on their project which in turn increases the value more (see: investing).

Do you mean startups selling them off for capital?
---

Colorahdo posted...

I just think crypto is the future so I bought mine and am holding onto for at least 5 years

I think blockchain will be important going into the future, but I wouldn't necessarily say any of these coins are necessarily going along for the ride.
---

deupd_u posted...

I mean, it's not even currency. No one would ever try to buy anything with it, being as volatile as it is.

I've used bitcoin as currency to buy lab equipment/chems for a couple years. The seller sets a price for btc they will accept and it comes with a timer to use that value. I do it because it's usually about 30% cheaper than it would be to buy in USD. I've never invested in btc, though.
---

Hey, I watched John Oliver too OP!
---

DoomSwell posted...

Hey, I watched John Oliver too OP!

While I did see John Oliver's segment, I've been saying this for a while now. I think Dave Ramsey was the first explanation I watched.
---

To even call it investing at this point is deceptive, it's pure speculation. Speculation is just a fancy word for gambling. Some argue it's not even gambling, that it's a straight up ponzi scheme.
---

investing is just a perception of lower risk speculation, speculation is just an informed guess, a guess you have no real control over is a gamble. Investing is a gamble.

life is a gamble
---