Cryptocurrencies are here to stay. but don't be stupid.
yes, crypto millionaires and billionaires will certainly be minted in the coming years. there will be plenty of rages-to-cypto-riches stories to go around. and maybe you will be one of them. (if you're reading this, you're an early adopter, so it's possible.) but don't be stupid.
even the wildest predictions of bitcoin hitting $50,000 by 2020... $100,000 by 2025...or even $1 million by 2034... aren't completely impossible, a few other great cryptocurrencies will rise beyond anyone's imagination, too. but dont be stupid.
I felt compelled to write this because I'm seeing a lot of smart people suspending their disbelief. I'm seeing a lot of smart people turn stupid.
cryptocurrencies are great. but I want as many of my readers as possible to avoid the cypto-tulip mania. I want as many people as possible to be less stupid about crypto. because there's going to be a lot of stupidity in this space - there already is. and I want to live in a less stupid world.
the cold, hard truth, if you can handle it: up to 99% of the cryptocurrencies that exist today are total SCAMs.
In conclusion: Nothing is impossible but don’t over confident of it and dump everything into it. Don't be Stupid
one of my biggest fears is that stupid people will ruin a good thing.
it's obivious, you are right
You make a valid point. People see things like this and lose all perspective and, as you say, smart people get stupid. They plow their savings and sell land to buy big into crypto then crash the market by selling out at a loss at the first bear market because they were desperate enough to risk what they could not afford to risk.
But can you blame them? Life is hard and requires money to make it easy. People look around and see millionaires and billionaires, they look around and see celebrities, they look around and see corrupt political officials, they look around and see that their university education is taking them nowhere, their job is taking them nowhere, their marriage is a financial and physical trap and that the paths to get to something better are almost all closed or faaaaar too long.
Then crypto comes along. Investment for the masses, stocks and bonds and forex but with far more dramatic returns! The volatility! The possibility! The adventure! The hope!
Can you blame them? I don't because I am stupid too 😁
Valid points, 👏👌
My advice is not to be so caught up in crypto or anything online, because anything csn happen, best tjing is when u get some lik money start a physical business
you make sense man
I wish I saw this post while it was still before it's payout. That's what I always say to them.