I think the mistake here is seeing cryptocurrency as an investment. That's not what it's for. It's a currency used to pay for goods and services. The rise in its value comes directly with the freedom to use it to pay for goods and services that avoid government/corporate malfeasance and liberate commerce.
For example, I can get a drug that I have a legitimate RX for through the (regulatory) captured corrupt American healthcare system at 100x markup, or I can buy high quality generics on a darknet market for pennies per pill.
Another example: Monero is a privacy coin that is designed to be untraceable, and Mullvad (VPN) "Privacy is a universal right" offers a 10% discount for Monero, Bitcoin and Bitcoin cash. Fantastic utility for people looking to break out of oppressive government firewalls and spying.
I think cryptocurrency is a massive boon for humanity. And treating it like an investment is foolhardy. It's a currency. If you don't have a plan to spend it, why would you mine or buy it?
I saw all this coming when Bitcoin first came out and I remember thinking it was expensive at $6/BTC. If I'd kept half of what I bought back then I'd be a multimillionaire today, but if I'd kept it, it might not have become as valuable as it is today either. The value of a currency comes from using it, not hoarding it.
>Maybe governmental regulations of this will change my view.
Government regulations spurred on by the regulatory capture and oligarchy designed to squash the little guy are the a huge problem.
"It's a currency used to pay for goods and services. "
No. They're magic trading cards.
Saying 'Crypto Is Currency' is saying 'Baseball Cards are Currency - just nobody uses it them as currency, yet!'.
Crypto is neither a very good store of value and it's not a currency.
I possibly could be both (different variations) but likely not better than regular money in most cases.
"I think cryptocurrency is a massive boon for humanity"
Where are these 'boon' things?
Buying 'generics' on the Black market - basically evading the law is a good thing? What about 'hiring hit men'? Maybe it would be better to just have the laws changed. I don't see where Crypto provides the 'boon'.
"Government regulations spurred on by the regulatory capture and oligarchy designed to squash the little guy are the a huge problem. "
Yeah, not with currency though.
Like you say - currency and investment are different things.
If you don't like USDs, then just don't hold onto a lot of them.
It's a great currency, just not a very good store of value.
Crypto hasn't yet demonstrated it's benefits, and a lot of the terrible things about Crypto are still on going.
For example, I can get a drug that I have a legitimate RX for through the (regulatory) captured corrupt American healthcare system at 100x markup, or I can buy high quality generics on a darknet market for pennies per pill.
Another example: Monero is a privacy coin that is designed to be untraceable, and Mullvad (VPN) "Privacy is a universal right" offers a 10% discount for Monero, Bitcoin and Bitcoin cash. Fantastic utility for people looking to break out of oppressive government firewalls and spying.
I think cryptocurrency is a massive boon for humanity. And treating it like an investment is foolhardy. It's a currency. If you don't have a plan to spend it, why would you mine or buy it?
I saw all this coming when Bitcoin first came out and I remember thinking it was expensive at $6/BTC. If I'd kept half of what I bought back then I'd be a multimillionaire today, but if I'd kept it, it might not have become as valuable as it is today either. The value of a currency comes from using it, not hoarding it.
>Maybe governmental regulations of this will change my view.
Government regulations spurred on by the regulatory capture and oligarchy designed to squash the little guy are the a huge problem.