The most important rule in crypto

davids355 said:
I agree with you 100% and I’m glad you said it. I also believe that every industry is going through digital transformation and that crypto is exactly that, concerning the financial sector.

I also believe that Bitcoin is an absolutely revolutionary system - one that truly solves problems that have never been solved before (not only in a mathematical sense) in that it is truely autonomous, truely decentralized but at the same time can be updated where it is found to fall short and also provide zero trust exchange of information and be immune to corruption.

What has ever been capable of that in our entire history?

And to top it all of, it is extremely secure (dare I say impossible to hack), have we seen anything like that before? Not to mention that it is the most sound form of money we’ve ever seen.

I believe these concepts could revolutionise not only the financial sector but many other sectors including government and anything that requires large scale collaboration and immunity from the corruption that comes with centralisation and the inefficiency that comes with scale.

I believe that’s why there are so many people that seem crazy for having no exit strategy. But it of course depends on whether you see crypto as a money making venture or a long term investment.
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Impossible to hack?
https://www.coindesk.com/markets/20...rs-lazarus-group-stolen-3b-in-cryptocurrency/ as long as you need a password / code its possible to hack, and I would say its more easy than many of countries financial instruments. If you are going to use the money in exchanges, its possible to hack. If you are just going to store it, alright, you can do offline steps to secure it. But still, when you are next time using it it would be possible to hack again.

Also, thinking that corruption will cease to exist - i beg to differ. Crypto will not exist if it removes curroption, curroption is deep rooted in most countries - and Crypto is not something that countries cant remove if they want. You need FIAT to buy crypto, if its banned you would simply just not be able to buy crypto.

Like, I buy crypto too - and sold my position out 29th december with almost a 100% return. Its a speculative "stock" if I can even call it that, and investing it in for years is just as speculative and almost gambling at this point. Buy into it because there will undoubtly be a bigger fool to buy it in a higher price, but I would not think that investing in bitcoin is better than S&P 500.

Not financial advise :D
 
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Stagged said:
Impossible to hack?
https://www.coindesk.com/markets/20...rs-lazarus-group-stolen-3b-in-cryptocurrency/ as long as you need a password / code its possible to hack, and I would say its more easy than many of countries financial instruments. If you are going to use the money in exchanges, its possible to hack. If you are just going to store it, alright, you can do offline steps to secure it. But still, when you are next time using it it would be possible to hack again.

Also, thinking that corruption will cease to exist - i beg to differ. Crypto will not exist if it removes curroption, curroption is deep rooted in most countries - and Crypto is not something that countries cant remove if they want. You need FIAT to buy crypto, if its banned you would simply just not be able to buy crypto.

Like, I buy crypto too - and sold my position out 29th december with almost a 100% return. Its a speculative "stock" if I can even call it that, and investing it in for years is just as speculative and almost gambling at this point. Buy into it because there will undoubtly be a bigger fool to buy it in a higher price, but I would not think that investing in bitcoin is better than S&P 500.

Not financial advise :D
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OK I take your point - as soon as you introduce other elements to your private key storage, then it becomes possible to hack. Also regarding corruption yes of course, these things will never go away but I do beleive the systems created and showcased by Bitcoin can be applied in many industries to improve the systems that are currently in place.

Anyway, who knows for sure - I certainly don't. But I do beleive in Bitcoin.
 
True, I had my brother go from 2k to 40k, got greedy, wanted to reach 100k before he exists.

And now he's at 2k lol.

I also know a friend that had the same thing happened but I don't remember the figures.

Greed is a bastard.

Always exit with your starting capital + some profit and don't be greedy.
 
GhostVision said:
As in the last bullrun I see more and more people are starting to be happy that they made xxxx$ in crypto... but 99% of them will never get to use that money.

So, in crypto, without an exit plan, you're just living a dream.
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Different people have different type of strategy. Some people do not want to use the funds themselves and want to pass on profits to their kids. It is completely normal to do this.
 
GhostVision said:
As in the last bullrun I see more and more people are starting to be happy that they made xxxx$ in crypto... but 99% of them will never get to use that money.

So, in crypto, without an exit plan, you're just living a dream.
Click to expand...
Facts! The hardest part is taking profits and not become blinded by greed during the pump.
 
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