Oh, you're a believer?
This is what I was asked after having a discussion on crypto and its future and being asked another question considering the volatility of the markets.
"Would I be willing to get paid in Bitcoin?"
Yes.
"What percentage are you happy to get in crypto?"
100%
...but I have caveats.
It all depends on my current needs as like it or not, the Bitcoin markets are volatile and it is messy and expensive to go from Bitcoin into the cash that is required to cover daily needs. Because they are daily needs, like paying bills and shopping, it isn't useful to get paid what I require in something that can drop down 30% in a day and take months to recover.
However, since I am a holder and looking long, on the percentage that I would put into Bitcoin anyway, yeah, why not? If I don't need that portion for anything else and I am going to expose it to the volatility for the next several years anyway - it doesn't really matter if I get paid in it or if I take it in cash and buy myself. So, there has to be a benefit to get paid directly in it, such as lower costs of transfers or tax benefits.
But let's say for example I had one job that covered all of my current needs, and a second job that covered all of my investment capital, I would happily take the 100% on the second. However, even with this, I am not a Bitcoin maximalist, so I would want to have it open to options.
Yet, if I was for example incapable of trading and making these decision myself, I would be happy to have a percentage paid in crypto directly, knowing that the "volatility" is not quite as it seems, when zooming out.
This is the crypto market cap for about the last seven years:
This is for the last three years:
Just imagine if you were programmatically buying with 10% of your income for just the last three years. Would you have been worried about the volatility of the day to day much? Unlikely. You would more likely be a millionaire - well, if you have a job that is.
When it comes to the risk, I am not willing to risk being able to cover my daily life but if I am in a position where I have available capital, I am willing to risk it in comparison to other forms of risk, like traditional investments. Nothing wrong with those too, but I find it crazy that seasoned investors are not willing to risk a percentage of their capital on crypto and more than that, they aren't even willing to investigate it.
"You're a believer?" was asked as if I am a crazy person who has no understanding of what is valuable, yet in the next sentence the person said how crypto isn't real, unlike Euros, because there is no central bank backing it. This is the average mindset of people, who do not realize that they are believing in magical thinking also, believing that there is stability in the fiat currency they hold, ignoring that the centralized nature of it means that the central banks are using it as their personal piggybank, whenever they need "a bit extra", they print more and devalue every fiat hodlers stack.
But yes, I am a believer that a decentralized economic future is coming where there is going to be immense value transferred onto the blockchains and generated through crypto. I do not know what particular tokens will be around in five or ten years from now, but I predict that Bitcoin and Ethereum will be and my hope is that more of the ones I hold with utility like BNB, HIVE and AVA will attract additional usage too.
People are yet to understand what makes crypto valuable in terms of its nothingness, but in time they will realize that the possibility to own a digital property on a blockchain is highly valuable and comes with something real estate does not - mobility. Having mobile wealth is going to become an increasingly used superpower that was once reserved only for the corporations and the extremely wealthy, while everyone else was bound by the ground upon which they stand. When it comes to having superpowers, those with them do not want everyone without them, to have them too.
The future is coming, like it or not and I am a believer that the economy is going to be fundamentally changed through the continual uptake of crypto and decentralized economies and communities. The markets are dipping all over the board today and every dip in crypto, means that more people will move a percentage of their traditional funds out in order to BTFD. In time, the amount of people doing this will stabilize the dips downward and the massive amount of new users will drive the highs even higher. This means that the ceiling keeps raising, as does the floor.
However, looking at the volatility day to day - I am not going to bet my daughter's dinner o it. But, for an opportunity to own a slice of the future, I don't mind going a little hungry from time to time myself.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance Beta
For me it is kind of nice to see a small dip, as I have one of those rare things for me, a post, about ready to payout, so that means more hives, and that is an itch I'll scratch any day. ;-}
:D That's what I like to hear :)
The last 2 lines are brilliant! I've been playing a long game since 2017 too. I'm getting ready to throw myself a bone by taking some profits, but my profit taking will likely just be 5% for me and 10-15% to reinvest. I'd rather win being smart and patient than by being lucky.
I am not planning on holding all the way down on everything this time around.
It'll will be in similar percentages as, Never go all in, never go all out. :)
This totally makes sense
Agreed Bitcoin conversion to cash is expensive adding the high transaction fee I would prefer hive to get my payment cause it easy to convert to cash on binance with 0 P2P fee and 0 hive transaction fee
I don't ever really want to go to cash, but it is some time away before 100% crypto life is tenable.
Agreed we need low fee and lot of shops that accept crypto
I think get payment in Hive is much more economical than get payment in Bitcoin. Invest now to get little fortune in the future.
Free transactions is huge - just look at the growth of Splinterlands and imagine what would happen if there was even a small fee. Peakd ran out of resource credits the other day, handling all of the transactions on peakmonsters.
Hive is definitely it for me.
I mean hive can increase in value to $5
I don't really see btc hitting 400k dollars.
Then the fees etc
The most important thing is applying wisdom in investing
I am a believer! We have that same philosophy. We cover our daily expenses first then invest what's available after that. Since we got into crypto so early in the game we have a lot of latitude. But we also believe in taking off the top when the market is high, but in small increments. Those types of moves allow us to "enjoy life", paying for our winter vacations.
Yup, I am a believer.
Hope you and your family are well and happy.
Enjoy your day.
This is what I haven't done before. I should have though. A few percentage points would have made a large difference over the last 4 years.
crypto investment is subject to market risk .Volatility is nature of high risk market like crypto ,stock . I think if i bought bitcoin at 60k will not make me worry because i am sure it will spike back sooner or later. in 2018 january, after reaching bitcoin to 20k straight went down to bearish mode and touched 5.5 k before it hit recently to 64k. So just buy and earn through saving at different exchanges .Don't ever sell it because it will go to 100k soon.
THe problem is that 3 years seems like an eternity for some people to get 400% :)
It's really no different than some of the high risk speculative stocks that other people traditionally invest in. Sure you may not see a 30% swing, but you could. I honestly think it is all about your level of comfort with what you are willing to risk. It should be an individual decision.
Posted Using LeoFinance Beta
you could see those swings, but rarely. Many traditional investors who get into crypto learn fast, that they can lose and gain a lot - but the swings are far shorter than they are used to.
I would definitely agree with that last part. Even the FUD seems to have less of an impact than it used to.
Posted Using LeoFinance Beta
This is one thing I can't explain in simple terms to a person who I want to enjoy crypto.
Well, I just feel there are percentages of funds that should be left to uncertainty.
I love the way you think of your daughter when you talk about finances.
Anyways, I should buy spoke BTC today.
And leave it for 5 years
It isn't that simple, since people don't have a very good grasp of what ownership itself in anything really means
Oh... one of those, are you? You people and your imaginary money... :P
I'm actually seeing a lot of people, particularly young people, getting into crypto. Some seem to view it as a get rich quick scheme, while others understand that you should invest as much as you can, without staking your entire future on it. So I think that's pretty interesting.
Yet they're still very few, when compared to those who'd much rather pay a monthly Spotify or Netflix subscription, instead of investing. Obviously, it's money you can afford to spend, so that's not the issue. I think the real issue is, you can't afford the brain power, time and energy necessary to understand investment basics.
That's what I'm thinking of doing, personally, setting a monthly amount to invest. Small, but the kind that adds up, you know?
I really enjoyed that last paragraph, by the way. Very well put. :)
The young are pouring in and most will learn quickly that the gains they make aren't quick. Many will sell far too early thinking that doubling their money in a month is great, but will spend it on a Playstation and then have nothing in two years when it goes 20x.
The subscriptions are killers - death by a thousand payments.
I will take two legendary cards thank you very much.
After all splinterlands is the new bitcoin😜
Jokes aside... these days my hive account value fell quite a bit but my card collection seems to be more stable. Interesting times.
Yep, people aren't selling cards that much, but they are still affected. Most crypto will drop more because there is no reason to hold most of it.
¿Crypto Volatility vs Trust in Fiat?
¿What religion, belief, superstition or credence?
Haha yeah, perhaps you should send this guy here to Vzla for a while. So he can see closer how a Fiat currency whether it be by external or internal factors and influences can lose 14 zeros of its value and purchasing power thru a period of 13 years.
THey should just scrap it all and start again. It would be easier.
Yeah, that's what most people think. But I suspect that whether they start from scratch or continue with what already exists, everything will remain the same.
For now, ordinary Vzlan people will have no choice but just hope that those in the government have a good card up their sleeve from October 1 onwards to effectively combat hyperinflation and the external attack on our currency to recover our purchasing power and alleviate our plight once and for all.
Yes - because people don't want to change.
Your view makes a whole lot of sense.
I currently believe the only reason I'm able to survive off crypto is that I have no major responsibilities. I could easily survive off family if I had no fiat in hand, so it's easy for me to stake everything and increase my rewards here while spending as little as possible.
This is one current blessing I'm grateful for while I anticipate and prepare for the future and its responsibilities. I mean if I had someone else to feed or care for, I definitely would need to "triple my hustle" coz I definitely wouldn't be able to do much at this pace.
Posted Using LeoFinance Beta
The best way to live off crypto now, is not have to live off it. But if it is a must, to spend as little of it as possible. Many can't control themselves with all of this "free money" floating around.
Those believer are not even aware of the inflation that makes their fiats less valuable from day to day. Crypto markets are volatile, today our assets has lost about %10; however it could be + %50 next year. If one is a long-term invester, such situation is not a problem. I believe that BTC and ETH will take the lead, and the next will be HIVE or likewise.
Even when they are aware, they don't really understand what an impact it makes. Hopefully it is 5x at the end of this year - that'd be nice :)
Investments in crypto can be very dangerous at times because of the high volatility of the crypto market. But yes I am a believer that the whole system is going to be changed from centralized to decentralized and decentralized is going to be the future and one day everyone will accept that.
Better be sure to support your beliefs then :)
Yes respected that is important.
Un artículo que hizo que mi mente crujiera por todo lo planteado y sobre todo por el reto que implica ser fiel a lo que creemos y coincido en la percepción de "no voy a apostar la cena de mi hija"... pero "no me importa pasar un poco de hambre de vez en cuando"
I am new to crypto world. Your word is inspiration to me. !LUV
<><
@tarazkp, you've been given LUV from @menzo.
Check the LUV in your H-E wallet. (2/5)
Great. Welcome :)