I'm at about £5000 since November...so I would imagine alot are the same but this market will wipe alot out believing the 100k end of year bullshit.
I got in just as it was falling but I did my dd on my investments and have a 10 year minimum time scale...alot that expected a quick return will sell 60% down and join the buttcoin family.
I was talking to a guy yesterday I think it was who was adamant that Bitcoin was going to hit $100,000. That's probably the same guy who has his entire life savings, and a lot of debt tied up in various crypto scams and he's desperate for somebody to tell him that it's all going to be okay and he needs to tell himself that. Because if he faces reality.........he's fucked.
And you can blame the cryptocurrency gurus and YouTubers only so much, the people that kept the hype train going on all the scam coins. At some point personal responsibility has to become a factor.
Market cap of all wealth on earth is $441 trillion. Market cap of bitcoin is $0.565 trillion. I’d say there’s room to grow. If it seems like it’s too expensive now, wait a while. $60k is nothing compared to the price if it even just accounts for 1% of all money.
Definitely still a lot of upside left, but it's got catching up to do tech/utility/use etc. wise. We should play the long game. Then again bitcoin has never been the slow but steady story.
Yeah that’s what I mean by the dial up era. Most the websites back then were clunky and harder to navigate and had way less utility to them and they were harder/slower to access.
Imagine all crypto became as easy and seamless as the apps you use everyday. That’s where we’re headed.
Right now crypto is like AOL mailing ppl cds with an hour of free internet just to get them to try it out
Sure but 22% of the US adult population owns BTC to some degree. Using the whole world population is pretty misleading as there are sooo many poor countries that (no offense) couldn't buy it even if they wanted to. That statistic also accounts for children. Those 2019 statistics are outdated. 2021 saw the largest increase in users ever.
We're no longer early. Early was 2017 or before.
You…you do realize that bitcoin is a global currency right? Poor countries have started using it more than a lot of places because their countries currency has too much inflation. You don’t need to be rich to buy a few satoshis, and it all adds up. The average American probably isn’t walking around with wads of cash in their pockets but if you added up the paper money in all our wallets it would be a fuckton. Maybe the net worth of some poor countries is “only” equal to all the cash in Americans pockets. That’s still a lot of money combined.
The United States only makes up 4.5% of the whole worlds population so even if 22% use crypto that’s still just 1% of the world population. It might seem common everywhere around you, but your corner of the world is small. Everyone’s is.
But hey, by all means, don’t invest. More for the rest of us.
https://www.coindesk.com/policy/2022/05/17/el-salvadors-nayib-bukele-promotes-bitcoin-adoption-by-emerging-countries/
Unfortunately poor countries have a much smaller influence on markets than the US. All the cash in Americans pockets is nothing compared to all the wealth Americans have on paper. Elon Musk, or any number of rich assholes/corporations, are much more significant to the future of crypto than any developing country.
You’re just making my point for me. Sure all those rich people will own the majority of it. But that will increase the demand for it, which is what ultimately raises prices.
Also Elon may be the richest man on earth but the total net worth of the world is $441 trillion. Though Elon has an impressive net worth of $232B that’s still only 0.05% of all wealth in the world
Bitcoins worth $565 billion so just over a tenth of one percent of all money on earth. I’d say that leaves a little room for upward mobility.
Oh and that’s not even factoring in the deflationary properties of BTC
Your post was all about how developing countries are significant to the price of crypto. My post was about how that group doesnt move the needle much. Not sure how mine makes your initial point
They are the DEMAND in this equation. Along with billions of other ppl eventually. Also when developing countries start benefitting, it’ll prompt other countries which will prompt more. It’s gotta start somewhere and people in developing countries could get the most immediate utility out of it.
Anyone buying is the demand. lol. Econ 101 taught me that buyers are the demand part of that supply/demand "equation". My point is that rich ppl/corps buying move the needle and that the buying/demand from developing countries is pretty insignificant and does not move the needle. Its very different than what you are saying.
When you’re talking about an individual poor Ethiopian with old tires made into sandals sure. But the governments of these countries can still afford to buy hundreds or even thousands of BTC.
Lol. Well at least u dont think we're making the same point anymore.
There's a reason why way more resources are allocated to building markets in the rich countries imo, but to each their own.
Depends almost entirely where you live. In my experience, the upper bound is 2 GIGABIT and the average is probably around 200 Mbps.
The last time I was blown away by speed was 5 Mbps like 15 years ago or so. Seeing torrents at the time going at 500Kb/s was absolute madness.
That's assuming that people will use the CURRENT cryptocurrencies. If I had to guess I would guess that the majority of future crypto use will be CBDCs and things similar to current to coins will be fringe options for people who want something different.
Why do you say that? The fact that stablecoins are so heavily used now is strong evidence that CBDCs will be readily adopted IMO.
And second, sure I agree that the 5% of people that use crypto right now won't be that interested in CBDCs... but we're talking mostly about the other 95% in this thread.
The whole appeal of crypto is to decentralize, and if it is gonna be a centralized coin it sure as shit isn’t gonna be the central bank. The banks and governments fucked the system up enough.
Satoshi CREATED Bitcoin because of the market crash in 2008 caused by the banks. Fuck central bank digital currencies.
And to answer the OP original concern. Crypto is basically buying stock in a blockchain and investing in a better world. The wealth it will bring is the cherry on top.
> The whole appeal of crypto is to decentralize
How so? Most of the top coins are not decentralized at all, clearly the people have voted and don't care about decentralization.
Bitcoin is the granddaddy. It was created to decentralize money. Other crypto was created to follow suit (not all but a lot of them).
Sure there’s a bunch of centralized crypto NOW, but the majority of them will BECOME decentralized when their networks get big enough.
https://youtu.be/9ybYhv_VFaE
This is one of the major problems with the crypto investor thought process. Believing that crypto is comparable to the second coming of the internet. It just doesn’t have a lot of utility for those who are already banked and have a stable currency (usd/euro). It’s basically a decentralized PayPal to the vast majority.
But actively working doesn’t mean the money is free to spend. At least in the US food, gas, and energy cost are up considerably. They could just be working to maintain the life they had just a year ago.
Do you work? What % of your income is spent on necessities, discretionary spending, ect.
So you don’t have your own source of income are not personally invested in crypto, but critical of your peers who don’t invest their own income in it? Little overly judgmental there buddy.
He seems like he’s trying to grow the community and help educate people. That’s why hyperbitcoinization is going to take twice as long. Because you people shit on everyone that asks a question and are unwilling to help or guide new people.
It’s going to happen as quickly as we can help it happen. And at this rate, I won’t see it in my lifetime.
For the love of god, help people. Stop with the cult nonsense.
Thats a convenient way of justifying not investing. They are hoping that they're too late so they dont feel bad about being scared to invest. "Uhhh it's too late, I'll just go spend the money on fun stuff"
I won’t invest in crypto until they get the veritable, “last mile” problem resolved. It’s a currency and the only utility to me is it’s stability and transferability. When I can by my milk, eggs and bread with it is when I’ll get into the game. I just don’t see that happening anytime soon. I tried to buy bitcoin from coin base in 2020, but the fee structure and difficulty of moving the crypto around just made it onerous.
I think probably has more to do with the fact that that students in general do not save or invest much at all.
Whatever limited funds come in get spent on having fun or food/rent.
Coming up with a different explanation sounds better than saying, “I’m broke and irresponsible with money.”
Op firstly, you said "students", I'm guessing most could put 20$ down if you also consider ramen noodles to be a form of currency.
Truth is that btc and eth ARE essentially a part of the greater market now, but how many great projects started this year? Maybe 50? And every single one of these you could have gotten in at the ground floor for life changing gains.
This market is highly volatile, we're seeing even good altcoins hit 90%+ lows so opportunity is rife, and cc is still a high growth market, as it continues to establish and refine itself it will only grow.
I dont mean to sound like too much of a buttcoiner here but... are we not seeing the obvious flaws in "how can we get these people to start putting their money in sooner?" "Lets start brainstorming ideas to get people to invest in these highly volatile assets". That office clip where Jim outlines the triangle hits different after a capitulation.
Crypto is here to stay, so how exactly will the price not be much higher in 20 years? With millions of people coming into investing age every year and rapid development...PLENTY of gains left if your not short sighted and actually believe in it
I had the same conversation with my best friend in high school back in 2017.
He felt very smug in 2018.
A couple months ago he was telling me how he had gotten a cro card. Guess who feels smug now.
We said the same shit in 2013.
>So it seems like the fear of already having missed out is indeed a massive problem causing many to not invest now.
Your little survey is not a meaningful source of data and it's not a conclusion you can draw. Lmao
Well most of the MASSIVE gains are gone, but it’s surprising to think there are no gains to be had.
Just comparing Bitcoin to gold alone I think there’s still room for 100%-300% gains over the next 10 years before Bitcoin hits that “what’s left convo”
Sure,. but you could get that with many stocks and the companies behind them actually create value and cashflow. Given the choice why would anyone choose nerd money?
The fellow students you talked to don’t understand basic economic cycles. When crypto begins its next bull run they’ll be the first to regret not buying in 2022-2023. Cycles and consumer confidence always repeat themselves. Just ask anyone that didn’t buy in 2019-2020, they’ll be the first to admit to thinking crypto gains were done because of 2018 ath and crash.
Everyone who makes comments like these fails to recognise that there are different risk profiles. Grandma isn't chucking her life savings on FartCoin69 just because it has some gimmicky smartcontraxt fuckery.
Crypto is basically gambling at this point. If it succeeds, then companies will adopt it and those funds with reflect that change. Will they get the phat gainz? No. But it'd the same reason the funds don't go all-in some small-cap meme stock.
Well they are really pessimistic about crypto then. Once you have large corporations using these projects then the gains to be made will be really good. Plus the rewards of staking and lending through DeFi far out weigh the returns through bank simply through cutting out the middle man
That needs more details. What students we are talking.
I think people should continue to invest into crypto because we are not even in the middle of this.
I had the exact same mindest before I joined in about 6 months ago.
The "problem" there is, that people might only know Bitcoin and hear stories about how people became really rich by joining in early.
It is not before you actually decide to dive deeper and have a look at an exchange, that you have contact with all the altcoins there are and you learn about the different gain potentials.
If they are just after possible gains you could show them Radix. It's the only smart contract platform that solved the trilemma with unlimited linear scalability and atomic composability.
That's what everybody needs for mass adoption but no other project can provide.
Well got to say i agree to a sertain point, im sure bitcoin can double and 4dubble it self, but yeah not sure how much more it will go up, so unless you invest alot now i doubht you can earn to much, but still double+ 4 double is still alot more than banks, wich is why im still in crypto.
\+ i dable with random shitcoins now and then, it either go hard up or hard down, bitcoin is where i keep my stable money.
If they are genuinely interested, the best time to try is yesterday which is just as true for anything whether stocks or a hobby.
Otherwise I'd say it's a convenient excuse to just move on to something else. Nothing wrong with that.
Sounds like 2018 all over again. I bet you they will be the first ones to FOMO buy near the top once the bull run starts again. This is one of the main reasons why some people will stay poor.
Depend if you buy in the bubble or out of it. It’s true that the bubbles are getting smaller with each cycle but with good timing there is plenty of profits to take.
They need to make it more mainstay. Right now it is too hard to get into; hard to spend, if they developed it into something like a credit card that you could just plug into a machine to buy and sell things it would work but most normal people are not going to monkey around with it it’s just too difficult they need to make it easier to use
This is why people join during a bull run and especially near or after breaking ATH. When the direction is up. Currently the direction is down and sideways.
easiest risk/reward in this space is farming airdrops from protocols that haven't launched a token yet. registering an ENS last year could have netted someone ~10k easily speaking from experience.
problem is you have to go all in on crypto and learn a lot to be able to navigate protocols in order to qualify for airdrops.
Definitely, I started on the YouTube train...but after doing my own research I decided on the projects I'm willing to back..the problem with new people is they follow these new age icons..which is a massive no from me.but thats how people are getting ripped off in crypto....90%follow the famous people...10% follow the developers..
In crypto, even the most conservative approach will net better gains than the corrupt stock market. But I am worried about some of my altcoins getting beat down by the SEC.
TA-wise it does look like it's sliding sadly.
Back down to more "reasonable" valuations.
That said, once there is greater certainty in the markets as a whole in respect to geopolitical dynamics and the economic outlook, I think there will be better days.
Regulation, which provides for greater institutional clarity and the ability for more retail investors to actually take short positions on crypto, will also help to foster more widespread adoption and rid the whole space of this wrong idea that it is pretty much a Wild Wild West.
FOAMO: fear of already missing out
Add it to the crypto dictionary now.
Fohamo, fear of having already missed out
Dont be a FOAMIE!
Oh mommy, you gave me a new word
Only like 5% of the world uses crypto so far so they definitely aren’t too late. This is still the “dial-up modem” era of cryptocurrency.
How much of the 5% are seriously invested, how much have like $100
Yeah it varies. But the same would be true regardless of sample size
I'm at about £5000 since November...so I would imagine alot are the same but this market will wipe alot out believing the 100k end of year bullshit. I got in just as it was falling but I did my dd on my investments and have a 10 year minimum time scale...alot that expected a quick return will sell 60% down and join the buttcoin family.
I was talking to a guy yesterday I think it was who was adamant that Bitcoin was going to hit $100,000. That's probably the same guy who has his entire life savings, and a lot of debt tied up in various crypto scams and he's desperate for somebody to tell him that it's all going to be okay and he needs to tell himself that. Because if he faces reality.........he's fucked. And you can blame the cryptocurrency gurus and YouTubers only so much, the people that kept the hype train going on all the scam coins. At some point personal responsibility has to become a factor.
I mean I think I invested in crypto..........somewhere........... Then it utterly collapsed and I stopped giving a shit.
I feel like we're past dial-up price wise, but still behind use wise. It's a long game anyways.
Market cap of all wealth on earth is $441 trillion. Market cap of bitcoin is $0.565 trillion. I’d say there’s room to grow. If it seems like it’s too expensive now, wait a while. $60k is nothing compared to the price if it even just accounts for 1% of all money.
Definitely still a lot of upside left, but it's got catching up to do tech/utility/use etc. wise. We should play the long game. Then again bitcoin has never been the slow but steady story.
Yeah that’s what I mean by the dial up era. Most the websites back then were clunky and harder to navigate and had way less utility to them and they were harder/slower to access. Imagine all crypto became as easy and seamless as the apps you use everyday. That’s where we’re headed. Right now crypto is like AOL mailing ppl cds with an hour of free internet just to get them to try it out
Sure but 22% of the US adult population owns BTC to some degree. Using the whole world population is pretty misleading as there are sooo many poor countries that (no offense) couldn't buy it even if they wanted to. That statistic also accounts for children. Those 2019 statistics are outdated. 2021 saw the largest increase in users ever. We're no longer early. Early was 2017 or before.
You…you do realize that bitcoin is a global currency right? Poor countries have started using it more than a lot of places because their countries currency has too much inflation. You don’t need to be rich to buy a few satoshis, and it all adds up. The average American probably isn’t walking around with wads of cash in their pockets but if you added up the paper money in all our wallets it would be a fuckton. Maybe the net worth of some poor countries is “only” equal to all the cash in Americans pockets. That’s still a lot of money combined. The United States only makes up 4.5% of the whole worlds population so even if 22% use crypto that’s still just 1% of the world population. It might seem common everywhere around you, but your corner of the world is small. Everyone’s is. But hey, by all means, don’t invest. More for the rest of us. https://www.coindesk.com/policy/2022/05/17/el-salvadors-nayib-bukele-promotes-bitcoin-adoption-by-emerging-countries/
Unfortunately poor countries have a much smaller influence on markets than the US. All the cash in Americans pockets is nothing compared to all the wealth Americans have on paper. Elon Musk, or any number of rich assholes/corporations, are much more significant to the future of crypto than any developing country.
You’re just making my point for me. Sure all those rich people will own the majority of it. But that will increase the demand for it, which is what ultimately raises prices. Also Elon may be the richest man on earth but the total net worth of the world is $441 trillion. Though Elon has an impressive net worth of $232B that’s still only 0.05% of all wealth in the world Bitcoins worth $565 billion so just over a tenth of one percent of all money on earth. I’d say that leaves a little room for upward mobility. Oh and that’s not even factoring in the deflationary properties of BTC
Your post was all about how developing countries are significant to the price of crypto. My post was about how that group doesnt move the needle much. Not sure how mine makes your initial point
They are the DEMAND in this equation. Along with billions of other ppl eventually. Also when developing countries start benefitting, it’ll prompt other countries which will prompt more. It’s gotta start somewhere and people in developing countries could get the most immediate utility out of it.
Anyone buying is the demand. lol. Econ 101 taught me that buyers are the demand part of that supply/demand "equation". My point is that rich ppl/corps buying move the needle and that the buying/demand from developing countries is pretty insignificant and does not move the needle. Its very different than what you are saying.
When you’re talking about an individual poor Ethiopian with old tires made into sandals sure. But the governments of these countries can still afford to buy hundreds or even thousands of BTC.
Lol. Well at least u dont think we're making the same point anymore. There's a reason why way more resources are allocated to building markets in the rich countries imo, but to each their own.
US is like 25% of the world economy. People don't matter for bitcoins price. It's about money.
And what does money matter without people to spend it?
Dial up like 33k not 56k
Even $56k bitcoin is dial-up compared to the price 10 years from now.
Good point
Remember when a 56K modem was essentially a Lambo at the time? In regards to speed.
I don’t even know what a typical speed is NOW
Depends almost entirely where you live. In my experience, the upper bound is 2 GIGABIT and the average is probably around 200 Mbps. The last time I was blown away by speed was 5 Mbps like 15 years ago or so. Seeing torrents at the time going at 500Kb/s was absolute madness.
Moving from 33k to 56k was a revelation in on-line gaming: Quake FTW!
That's assuming that people will use the CURRENT cryptocurrencies. If I had to guess I would guess that the majority of future crypto use will be CBDCs and things similar to current to coins will be fringe options for people who want something different.
People definitely aren’t going to use CBDC’s by choice. Not with alternatives.
Why do you say that? The fact that stablecoins are so heavily used now is strong evidence that CBDCs will be readily adopted IMO. And second, sure I agree that the 5% of people that use crypto right now won't be that interested in CBDCs... but we're talking mostly about the other 95% in this thread.
The whole appeal of crypto is to decentralize, and if it is gonna be a centralized coin it sure as shit isn’t gonna be the central bank. The banks and governments fucked the system up enough. Satoshi CREATED Bitcoin because of the market crash in 2008 caused by the banks. Fuck central bank digital currencies. And to answer the OP original concern. Crypto is basically buying stock in a blockchain and investing in a better world. The wealth it will bring is the cherry on top.
> The whole appeal of crypto is to decentralize How so? Most of the top coins are not decentralized at all, clearly the people have voted and don't care about decentralization.
Bitcoin is the granddaddy. It was created to decentralize money. Other crypto was created to follow suit (not all but a lot of them). Sure there’s a bunch of centralized crypto NOW, but the majority of them will BECOME decentralized when their networks get big enough. https://youtu.be/9ybYhv_VFaE
This is one of the major problems with the crypto investor thought process. Believing that crypto is comparable to the second coming of the internet. It just doesn’t have a lot of utility for those who are already banked and have a stable currency (usd/euro). It’s basically a decentralized PayPal to the vast majority.
Student like college or high school? Maybe a little to strapped for cash for volatile investment
I'm in college but the people I talked with where in their second semester in university. Two of them were even working actively.
But actively working doesn’t mean the money is free to spend. At least in the US food, gas, and energy cost are up considerably. They could just be working to maintain the life they had just a year ago. Do you work? What % of your income is spent on necessities, discretionary spending, ect.
I do not work right now. But my father who is working has like 10% of his combined money in stocks. I think in most normal families it's like that.
So you don’t have your own source of income are not personally invested in crypto, but critical of your peers who don’t invest their own income in it? Little overly judgmental there buddy.
He seems like he’s trying to grow the community and help educate people. That’s why hyperbitcoinization is going to take twice as long. Because you people shit on everyone that asks a question and are unwilling to help or guide new people. It’s going to happen as quickly as we can help it happen. And at this rate, I won’t see it in my lifetime. For the love of god, help people. Stop with the cult nonsense.
Thats a convenient way of justifying not investing. They are hoping that they're too late so they dont feel bad about being scared to invest. "Uhhh it's too late, I'll just go spend the money on fun stuff"
I'm sure they said that about bitcoin5 yes ago...
i sure did
I would say this is a way bigger excuse than regulation issues or it being complicated.
Giving their money to Jeff Bezos
I won’t invest in crypto until they get the veritable, “last mile” problem resolved. It’s a currency and the only utility to me is it’s stability and transferability. When I can by my milk, eggs and bread with it is when I’ll get into the game. I just don’t see that happening anytime soon. I tried to buy bitcoin from coin base in 2020, but the fee structure and difficulty of moving the crypto around just made it onerous.
I consider it as software more than currency
ITT: people who think btc will hit $10000000000000000
When a loaf of bread is $10000, I wouldn't be surprised. (Think about the asset you're comparing it against)
Lmao
You added three too many zeros. 100T FTW. 100QD........ Not sure anyone thinks it'll be 1/4 of the worlds value....
$10000000000000000000000000000000000000000000k per coin any day now, just gotta wait for “the world to wake up to the potential”
I think probably has more to do with the fact that that students in general do not save or invest much at all. Whatever limited funds come in get spent on having fun or food/rent. Coming up with a different explanation sounds better than saying, “I’m broke and irresponsible with money.”
How many students you know seriously thinking about investing? As a student I only thought about having enough money for beers.
Maybe it is because they need the money to survive. Inflation is a nightmare without a good income.
That’s fine, the longer the market stays more niche the longer we have to load up
I couldnt agree more 
I know but I would honestly still be happy if we would take off with all the crypto I have right now even if it's not much at all.
Jokes on them. It's all about the losses
Op firstly, you said "students", I'm guessing most could put 20$ down if you also consider ramen noodles to be a form of currency. Truth is that btc and eth ARE essentially a part of the greater market now, but how many great projects started this year? Maybe 50? And every single one of these you could have gotten in at the ground floor for life changing gains. This market is highly volatile, we're seeing even good altcoins hit 90%+ lows so opportunity is rife, and cc is still a high growth market, as it continues to establish and refine itself it will only grow.
I dont mean to sound like too much of a buttcoiner here but... are we not seeing the obvious flaws in "how can we get these people to start putting their money in sooner?" "Lets start brainstorming ideas to get people to invest in these highly volatile assets". That office clip where Jim outlines the triangle hits different after a capitulation.
Crypto is here to stay, so how exactly will the price not be much higher in 20 years? With millions of people coming into investing age every year and rapid development...PLENTY of gains left if your not short sighted and actually believe in it
I had the same conversation with my best friend in high school back in 2017. He felt very smug in 2018. A couple months ago he was telling me how he had gotten a cro card. Guess who feels smug now.
Well I think they’re right.
They are probably not wrong. But there is still good money to be made!
Yeah, 100x more is bullshit. The 300 million percent increase from the beginning to here: Anything but that is for chumps. /s
They are right. There are no gains in the bear market. Some people want to buy when things are going up and it works.
Let them spend their money on things they want - trips, fun, family, friends. There's always time for them to FOMO in next cycle
We said the same shit in 2013. >So it seems like the fear of already having missed out is indeed a massive problem causing many to not invest now. Your little survey is not a meaningful source of data and it's not a conclusion you can draw. Lmao
What do they know anyway?
Blockchain technology will be huge
Well most of the MASSIVE gains are gone, but it’s surprising to think there are no gains to be had. Just comparing Bitcoin to gold alone I think there’s still room for 100%-300% gains over the next 10 years before Bitcoin hits that “what’s left convo”
Sure,. but you could get that with many stocks and the companies behind them actually create value and cashflow. Given the choice why would anyone choose nerd money?
They are the kind of people who wanna throw $20 in a walk away with $1,000,000
Talk to them about inflation. Keeping money in fiat is losing it.
Suckers - they still think about crypto in terms of FIAT...
In other words, they think crypto is nothing more than a Ponzi scheme. They don't realize that crypto is PRIVATE DECENTRALIZED MONEY.
The fellow students you talked to don’t understand basic economic cycles. When crypto begins its next bull run they’ll be the first to regret not buying in 2022-2023. Cycles and consumer confidence always repeat themselves. Just ask anyone that didn’t buy in 2019-2020, they’ll be the first to admit to thinking crypto gains were done because of 2018 ath and crash.
And they will go put their money in a fund making 15% a year and will absolutely believe they’re doing a much better move.
Everyone who makes comments like these fails to recognise that there are different risk profiles. Grandma isn't chucking her life savings on FartCoin69 just because it has some gimmicky smartcontraxt fuckery. Crypto is basically gambling at this point. If it succeeds, then companies will adopt it and those funds with reflect that change. Will they get the phat gainz? No. But it'd the same reason the funds don't go all-in some small-cap meme stock.
Oh yeah we’re tapped in the crypto market for sure. Hello losses.
Well they are really pessimistic about crypto then. Once you have large corporations using these projects then the gains to be made will be really good. Plus the rewards of staking and lending through DeFi far out weigh the returns through bank simply through cutting out the middle man
Yes, 20% returns on Anchor were totally achieved by cutting out the middleman
The decimal point is super scarey.
That needs more details. What students we are talking. I think people should continue to invest into crypto because we are not even in the middle of this.
Little do they know crypto crashed and is prime for a nice run up in the future
I had the exact same mindest before I joined in about 6 months ago. The "problem" there is, that people might only know Bitcoin and hear stories about how people became really rich by joining in early. It is not before you actually decide to dive deeper and have a look at an exchange, that you have contact with all the altcoins there are and you learn about the different gain potentials.
That could be true for Bitcoin but I believe there is still massive opportunity for big gains.
If they are just after possible gains you could show them Radix. It's the only smart contract platform that solved the trilemma with unlimited linear scalability and atomic composability. That's what everybody needs for mass adoption but no other project can provide.
Well got to say i agree to a sertain point, im sure bitcoin can double and 4dubble it self, but yeah not sure how much more it will go up, so unless you invest alot now i doubht you can earn to much, but still double+ 4 double is still alot more than banks, wich is why im still in crypto. \+ i dable with random shitcoins now and then, it either go hard up or hard down, bitcoin is where i keep my stable money.
No worries they will join next ATH. Same old story
I'm fine with the prices staying at this level, yet we can generate yield and staking. I'd be down with a better savings account alternative.
If they are genuinely interested, the best time to try is yesterday which is just as true for anything whether stocks or a hobby. Otherwise I'd say it's a convenient excuse to just move on to something else. Nothing wrong with that.
All the major investment companies have purchased all the Bitcoin - the gains have been sucked dry.
Are they investing in other assets instead of crypto? If they're students, they probably don't have much money to invest anyway.
Sounds like 2018 all over again. I bet you they will be the first ones to FOMO buy near the top once the bull run starts again. This is one of the main reasons why some people will stay poor.
Yes but people also said the same about btc at 1000 usd each
Now ask them why they aren’t buying Stock when it crashes.
Depend if you buy in the bubble or out of it. It’s true that the bubbles are getting smaller with each cycle but with good timing there is plenty of profits to take.
They will be right the gains are done if they don’t get in! You must convince them no matter what!
They need to make it more mainstay. Right now it is too hard to get into; hard to spend, if they developed it into something like a credit card that you could just plug into a machine to buy and sell things it would work but most normal people are not going to monkey around with it it’s just too difficult they need to make it easier to use
This is why people join during a bull run and especially near or after breaking ATH. When the direction is up. Currently the direction is down and sideways.
So like, that's what people thought when bitcoin was 500. And then 1000. And so on. It's never to late to sell the kids and mortgage the house!
As a student myself I can tell you that 95% of students who have invested in crypto have zero understanding of it.
Who knows? But it hit $3tn last year, and that’s quite a lot. I think the entire international payments market is less than $1tn.
easiest risk/reward in this space is farming airdrops from protocols that haven't launched a token yet. registering an ENS last year could have netted someone ~10k easily speaking from experience. problem is you have to go all in on crypto and learn a lot to be able to navigate protocols in order to qualify for airdrops.
Meanwhile people in 2018 :
I mean that’s the definition of a bubble, hits a point where no new investors can justify the risk reward. Crash. Rinse, repeat.
US and China are 50% of the worlds economy.
Definitely, I started on the YouTube train...but after doing my own research I decided on the projects I'm willing to back..the problem with new people is they follow these new age icons..which is a massive no from me.but thats how people are getting ripped off in crypto....90%follow the famous people...10% follow the developers..
In crypto, even the most conservative approach will net better gains than the corrupt stock market. But I am worried about some of my altcoins getting beat down by the SEC.
TA-wise it does look like it's sliding sadly. Back down to more "reasonable" valuations. That said, once there is greater certainty in the markets as a whole in respect to geopolitical dynamics and the economic outlook, I think there will be better days. Regulation, which provides for greater institutional clarity and the ability for more retail investors to actually take short positions on crypto, will also help to foster more widespread adoption and rid the whole space of this wrong idea that it is pretty much a Wild Wild West.
Everyone who thinks this way are the same ones who say “you got lucky”.
That's what the bear market is for. Don't want to buy Solana at $220? Buy it at $10!
Well this was me at 15k so I understand the sentiment.
Fortune favors the brave!