this post was submitted on 25 Jul 2024
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[–] [email protected] 1 points 1 month ago (1 children)

Yes if you meet those criteria and cash out right now. Most people I to crypto will hold though.

Why? Because that's the narrative pushed on the community over and over and over - hodl never sell.

Why? Because if everyone sells, all the people manipulating the market like Tether and their buddies lose their money. Fair play to those that can make a bit of money, but unless you're already rich, are running the market, or fine with creating a shitcoin to rug people, crypto is not going to make most average people rich at all.

Just another way for the already wealthy to fuck you over.

[–] [email protected] 0 points 1 month ago (1 children)

Most assets work that way, if everyone sold Nividia stock then it would tank as well. Most things outside of food and shelter only have value due to our collective belief. Diamond and water paradox is constant in society

[–] [email protected] 1 points 1 month ago (1 children)

Is it a currency or an asset? You replied claiming it's a currency below.

[–] [email protected] 0 points 1 month ago (1 children)

I think an asset is anything that can be converted to liquid, so that depends if you think crypto is liquid or not, which probably depends on location

[–] [email protected] 1 points 1 month ago (1 children)

So you think it's an asset, not a currency?

[–] [email protected] 1 points 1 month ago (1 children)

It doesn't matter what I believe, I was referencing an economic textbook on what an asset and currency are

What do you believe it to be?

[–] [email protected] 1 points 1 month ago

It does matter, because with respect you changed what you class it as to support your arguement. Obviously there's still discussion on how to class BTC, but my understanding is the consensus outside of crypto is it's a speculative asset.

That's also why it would be terrible as a currency, from what I understand.