If it's just play money you can leave it, but it will take more than a year to go back up even in the best circumstances. Risky assets are off the table for speculators and investors until the recession is over AND FED interest rates start going back down AND macro economic headwinds like the War in Ukraine, supply chain issues, lockdown in China, food shortage, etc are abated.
The entire existence of crypto over the last decade has been in an economic environment incredibly favorable to its growth with record low interest rates. With interest rates as high as they are now, and with inflation and an impending recession, we are in uncharted territories for crypto. This is not to say that it can't go back up, but you can't point to past performance and say it is a given.
Long answer: Don't take this as me being insulting, but if you're dropping $3,000 into something and you're asking people on Era for advice for when to sell or to buy the asset, you probably shouldn't be dropping that kind of money into something that you're not confident in your knowledge about. You said that $3,000 is "play money" so it's all good in the end I guess, but it's alarming to me when I see people go onto a gaming forum asking about whether or not a speculative asset will go up or down. That's your investment. You should know what to do with the money you're investing and not crowdsourcing answers.
earthworks.org
saying "creating another but useless destructive currency is fine" is not a discussion worth having. i drive an ev, haven't held cash in decades and don't buy gold and will criticize those as well, happy? feel free to point me to threads with those discussions and ill be there to state my opinion even though is obvious how terrible it is that these have use cases and some need to rely on those things to live. unlike crypto, which has zero use even if you want to spout the "but decentralization!" garbage that you actually don't care about.
Not bad faith. It's essentially what you're saying.
I completely agree. It's hilarious to me how people throw money at crypto without even taking more than a few days to study how the market works and the different companies that have actually survived more than 1 year. I've been in this crypto "game" for 2.5 years and it takes a ton of time and effort to research to come up with profits. Won some and lost some. I'm happy to experience my first bear market and accumulate. Only people with the mental fortitude to make it through this time in the market will actually make profits.
Assume this is a bad faith request, but here you go:
Oil:
Gold:
Environmental Impacts of Gold Mining - Earthworks
Gold mining can contaminate drinking water and destroy pristine environments, endangering the health of people and ecosystems.
Printing Money:
A LOOK AT THE SUSTAINABILITY OF CURRENCY
World Environment Day & Celebrates 50 Years of Earth Day:www.thebigchilli.com
My point being, 'crypto is bad for the environment' is a weak argument when all the other standards have been destroying the very core of our earth as well.
The one thing you're casually ignoring is that unlike crypto oil and gold are actually things that are actively used by humanity. While they come with a significant environmental cost they serve a practical purpose and aren't just a glorified pyramide scheme trying to market itself as currency so bunch of rich people can get even richer.
news.climate.columbia.edu
With the added benefit of offering absolutely nothing tangible to society! Who can say no to such a lose-lose?"Oil and gold are bad too so who cares if we add the CO2 output of Greece on the fire?"
Cryptocurrency’s Dirty Secret: Energy Consumption
To be a true game changer, crypto may need to come clean and go green.
"Oil and gold are bad too so who cares if we add the CO2 output of Greece on the fire?"
Cryptocurrency’s Dirty Secret: Energy Consumption
To be a true game changer, crypto may need to come clean and go green.
I know this because i watch Gold Rush on Discovery. But in Canada, USA, and New Zealand before you start gold mining you have to have hard money(you can't touch no matter what) and a plan to reclaim the land after you done.
www.resetera.com
Instead of "fuck you, got mine" it's "fuck you, I'm trying to get mine".
They said, reverting back to the crypto talking points playbook. There is no shred of joking with your posts which is sending me.
an opposing logical view based in reality is not "hive mind". crypto will never replace major currency. it can't. it has zero benefits over current monetary mediums. you can't have that conversation until it has a solid foundation to exist, which is does not.
You could try engaging with my argument like I did yours instead of ducking and running and painting what I wrote with a broad brush. Real hard at this point to not look at you claiming we're a bad faith hive mind as anything but projection at this point but I'm willing to hear you out if you want to demonstrate otherwise.
because its yet to prove its need to exist in any sort of manner. literally there is not one positive use case. it does not deserve to exist unless it goes back to the drawing board and refactor everything about it
Alright, y'all. They're taking the piss out of us. No need to keep feeding.
