Launch pad for gold in the future?
I'm invested in many crypto coins, but they are bets. I'm gambling. Gresham's Law states that bad money drives out good money. Crypto works in reverse. The problem with Crypto is that good coins can be created to replace existing coins at any time. We never know when that may happen.
Yes, invest in quality sound crypto coins, but you should also diversify your wealth into many different baskets. Anyone that has all their wealth tied up in crypto is taking a HUGE risk. Yes, place your bets, hope for the best, and be a part of the future, but please... please... do not bet your entire future on them.
Do not place all of your wealth in one basket. Diversify. Spread your hard work around. Protect it by giving little pieces of it to different people and putting it in different places. I strongly suggest people to place quality bets on crypto and be involved, but I also suggest they be smart about it. Don't put all your hard labor over your entire life into a single basket (crypto).
I worked with a guy who was a janitor, no offense to janitors either, and the man had lost his entire life's wealth in the stock market. He was a day trader, and he lost it all on bad bets. Don't be him. You don't want to be the guy who's walked out from his janitor job for raging at a woman in the woman's bathroom.
None of us know for sure what will happen. Stay out of debt, diversify your holdings, prepare for the worst, and listen to lots of people with lots of different opinions. That is the best way to prosper no matter what happens. I don't want my friends to be ruined. I don't want them to lose all that they have worked so hard to gain either.
Schiff isn't stuck in the past. He's cautious. I value that too. Everyone should. Gamble, sure. Just don't gamble with everything. Why would you?! Some of your wealth should be placed in more conservative baskets. Be careful to not lose it all. Don't trust anyone or anything with all your wealth either.
Sage advice - your comment is worthy of a post in itself
Thanks :)
Thank you :)
Everything you said, so much this!
Thank you! :)