You are viewing a single comment's thread from:

RE: When you bought or invest in crypto !

in #life6 years ago

I think that those of us who really believe in the technology should not worry about the price. And its also because of the fear that price will drop, and the fact that we go in with the mindset of "investing" and earning money that disappoints us the most.

While some are viewed as investments like stocks and some cryptocurrencies are viewed as currency, those of us "investing" in the currency should try not to sell. The very point of a currency is a medium of exchange, not to earn money. The value will eventually go up, mechanisms and systems will come in place to use these mediums of exchange in the future, and price will stabilise with that. Isn't that what we want with cryptocurrency? Or just blindly waiting for the price to go up and sell and repeat? @simobnr what do you think sir?

Sort:  

good point! the most important before investing at any crypto is understand the technology behind it, and use case, not price up or down :)

I also tend to focus on the end game for cryptocurrency: being a better form of money. While the ascend to adoption is a great ride, the core application of Bitcoin (to me) is being an honest ledger. A true and verified account of what happened. In the end, that should lead (if Bitcoin becomes the one to lead them all) to better coordination among people from an economic perspective, and thus more wealth for us all.

That (to me) is the big promise of Bitcoin.

For some food for thought on Bitcoin serving as a stable numeraire, see: http://www.gata.org/node/8303 (Bitcoin not mentioned as option since the piece is form 2001)