Investing and Cryptocurrency?

What is everyone's thoughts on the long-term of cryptocurrency? I remember towards the beginning of this year cryptocurrency was the big hype! I never bought into it because I didn't know enough about it.

Are there any hardcore cryptocurrency lovers out there? Will this eventually be the only currency?

 

I used to be a hardcore crypto fanatic. I invested lots of money, made some money, and lost much more in the end. I am down tens of thousands- I don't know if the market is stable, or if it will ever be stable. I feel like it's a wave, and you the beneficiaries are those who ride it with a short vision.

 

Yes a lot of the hype died down, however I’m keeping my head up for long term. There will be many Coins with more and more functionalities, people will eventually see this and adapt.

 

It definitely feels like the future. Paper money and plastic cards seem like they won’t last forever espicially with all the fraud

 

Bitcorns are not for the faint of heart, but dollar cost avg your BTC stash up to 1 corn, then build a USD trading account. Do not invest long term, they are meant for short term trading on select days where altcorn volumes have skyrocketed.

 

Bitcoin might not have found it's price floor yet, as $3000 is possible, but buying right now is damn good compared to months ago. A lot of people we're saying that they wish they could buy bitcoin at $5000 when bitcoin was at $15k-19k. Here it is.

 

Truth. I was so unhappy when I didn’t buy earlier this year but now I’m alright with it. I invest in the stock market for long term holdings. Cryptocurrency is so strange as it really has nothing to compare to for value. Example: the quarterly earnings from a company

 

Yeah. Cryptocurrencies are extremely volatility and I really don't think it's going to change any soon. Hence you should always take risk into consideration.

 

Right now cryptos are volaitile but in the future I think crypto will be the way to go maybe a coin with more purpose then Bitcoin tho think that coin might not have been even created yet.

 

Maybe the government will create a currency

 

What can you say about crypto trading? What cryptocurrency should I choose for start? I read about ripple trading monfex.com/instruments/ripple As of today, Ripple is currently 3rd largest cryptocurrency as per the market capitalisations. All this makes it compelling that Ripple as an asset will grow in future and will give good returns. What do you think about this?

 

This is the time to educate yourself (whether that is learning about blockchain, researching specific Crypto projects, investing, trading...etc.) , while we are in a bear market. Get ahead of everyone else before the next bull/hype cycle.

 

When regulation will come then the big money will flow in, banks institutions. This regulation is happening already. Good time to buy right now before crypto will boom again. Never invest more then you are willing to lose.

 

Beta is too high for long-term.

 

I no longer invest in the currencies itself I'm more so into the manufacturers of the miners.

 

It definitely will not be the only currency. For cryptocurrency to even have value, there must be a base currency, which in this case would be USD/CAD/AUD etc... If there was no base, cryptocurrency would have no value whatsoever so no this will not become the only currency.

 

No one knows when will the next bull market start again, but when it does it would be too late to get in.

 

It seems to me that it is necessary to invest in cryptocurrency with caution. In this matter, you need to understand well. If you are already engaged in cryptocurrency, then you need a good bitcoin mixer Blender.io | Bitcoin Mixing, Bitcoin Tumbling with a small commission

 

Crypto in general is an entirely new field, and with anything new, you will see outlandish economic and social movement. In our current financial system, fiat money essentially retains "value" through the basis of faith and trust in the issuing entity (the government/central bank). Once the issuing entity abuses that privilege through hyperinflation, or people lose faith, the abstract implied "value" of fiat money goes down the gutter. A $100 USD note only has that implied value because individuals and collectives are willing to exchange it for goods and services equating up to that amount. If no one is willing to accept your fiat note, then it essentially worthless.

Bitcoin is a system with no central authority, with a fixed emission/inflation schedule, and fixed supply. It is a "trustless" system, and derives it's unit value through scarcity and utility.

 

No, it won't eventually be the only currency. Central bankers won't allow that, and you're seeing that unfolding now with JPMCoin.