It could just be that I am not as smart as you, or... It could be some of the "reasons" people give for explaining why crypto went up or down leaves me,..
There is something to be said for a "hunch" but I get the confusion.
Crypto is a volatile and new market. Little (or nothing) is known about how it works. The vast majority of crypto is based on perceived value and scarcity ... it is LITERALLY a paper doll investment.
Most of the movement in crypto has been tied to Bitcoin, but this is only because Bitcoin is what market makers know. Recently, there has been a lot of movement surrounding ETH as a viable currency.
Here's the challenge. ETH is NOT A CURRENCY! Sure it's a tradeable token, it buys value in ETH based tokens within the ETH based dapps (including Steem and EOS), it can be sold for FIAT, but it's not a currency it's the "fuel" that backs various currencies and applications.
ETH is built on the blockchain model that Bitcoin Created and Steem is built on the blockchain model that ETH refined and EOS is built and refined even further. This creates an assumed correlation. In reality the US Dollar is the eventual evolution of trading SHEEP! I wouldn't base my dollar on the price of wool.
What do we get out of this?
Look at investments individually. A smart investor will not only ride the market waves, s/he will also research each offering and determine it's short and long term VALUE.
I feel exactly the same way. The problem for me is that the U.S Federal Reserve Note is based upon a Ponzi scheme, because the money to pay the loan to the Fed doesn't exist.
So I feel like people are trying to hand me Bugs Bunny's carrot, expecting me to take a bite and be nourished.
I start laughing everytime I try to think about it. lol
There is something to be said for a "hunch" but I get the confusion.
Crypto is a volatile and new market. Little (or nothing) is known about how it works. The vast majority of crypto is based on perceived value and scarcity ... it is LITERALLY a paper doll investment.
Most of the movement in crypto has been tied to Bitcoin, but this is only because Bitcoin is what market makers know. Recently, there has been a lot of movement surrounding ETH as a viable currency.
Here's the challenge. ETH is NOT A CURRENCY! Sure it's a tradeable token, it buys value in ETH based tokens within the ETH based dapps (including Steem and EOS), it can be sold for FIAT, but it's not a currency it's the "fuel" that backs various currencies and applications.
ETH is built on the blockchain model that Bitcoin Created and Steem is built on the blockchain model that ETH refined and EOS is built and refined even further. This creates an assumed correlation. In reality the US Dollar is the eventual evolution of trading SHEEP! I wouldn't base my dollar on the price of wool.
What do we get out of this?
Look at investments individually. A smart investor will not only ride the market waves, s/he will also research each offering and determine it's short and long term VALUE.
That was the most helpful comment I have ever received. Thank you.
Absolutely. Please feel free to check out my other content. I love being helpful.
I feel exactly the same way. The problem for me is that the U.S Federal Reserve Note is based upon a Ponzi scheme, because the money to pay the loan to the Fed doesn't exist.
So I feel like people are trying to hand me Bugs Bunny's carrot, expecting me to take a bite and be nourished.
I start laughing everytime I try to think about it. lol