I once hopped cryptocurrency was going to end capitalism, democratize the financial system and help redistributing wealth.
Instead it became yet another stock to gamble on.
I bought €10 bucks of dogecoin all the way back in 2013. Thats the only time i ever did annything remotely close to ”investing”
I still have them and while i initially dreamed of using them to buy a gaming pc, i am a working adult now and the novelty of the coin is worth more then that. Regardless no tech store accepts doge as currency.
I never cared about any other crypto, if the point is to sell them for classical money then what is the point of it.
The price has remained a stable price of 1 Doge = 1 Doge regardless of Elon trying to wreck the system so i remain very happy with my purchase.
All investments are gambles basically. For example, I chose to do the “safe thing” a few years back to “invest” some of my savings into an index fund (stock market diversification basically). This is commonly expected to yield about 5% return on investment over time, historically.
What actually happened is that my Gamble lost about 40% of its value over the past couple years. I’d have been far better off just putting those savings into a good savings account.
Right now I’m up over 400% on my bitcoin, it’s by far my best performing investment. Come back to this comment in 6 months and see where it’s at.
I once hopped cryptocurrency was going to end capitalism, democratize the financial system and help redistributing wealth. Instead it became yet another stock to gamble on.
Yeah, and it’s easy to tell who are the bitter people who took a known gamble and lost. Gotta blame someone/something.
In case your referring to me, full disclosure.
I bought €10 bucks of dogecoin all the way back in 2013. Thats the only time i ever did annything remotely close to ”investing”
I still have them and while i initially dreamed of using them to buy a gaming pc, i am a working adult now and the novelty of the coin is worth more then that. Regardless no tech store accepts doge as currency.
I never cared about any other crypto, if the point is to sell them for classical money then what is the point of it.
The price has remained a stable price of 1 Doge = 1 Doge regardless of Elon trying to wreck the system so i remain very happy with my purchase.
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Oh I will.
popcorn.gif
@[email protected] 545 days
Gonna try this out
@[email protected] 180 days
There’s a RemindMe bot on Lemmy?! Now I’ve gotta try this out.
@[email protected] 24 hours
@TheImpressiveX Ok, I will remind you on Wednesday Feb 28, 2024 at 1:39 PM PST.
@TheImpressiveX Here is your reminder!
Wow, it worked. Thanks, @[email protected]!
@Gigan Ok, I will remind you on Sunday Aug 25, 2024 at 2:18 PM PDT.
@Gigan Here is your reminder!
@[email protected] 180 days
If i recall correctly, the stock to flow model predicts that this cycle should peak in late 2025.
FTFY
All investments are gambles basically. For example, I chose to do the “safe thing” a few years back to “invest” some of my savings into an index fund (stock market diversification basically). This is commonly expected to yield about 5% return on investment over time, historically.
What actually happened is that my Gamble lost about 40% of its value over the past couple years. I’d have been far better off just putting those savings into a good savings account.