Still feels like a Rollercoaster to me

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Still Feels Like A Rollercoaster To Me

Still feels like a Rollercoaster to me

Still Feels Like A Rollercoaster To Me



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Still Feels Like A Rollercoaster To Me

Still Feels Like A Rollercoaster To Me
Still Feels Like A Rollercoaster To Me
Still Feels Like A Rollercoaster To Me

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Comment (7)

  1. This is one of the reasons why I have such a hard time getting into crypto.

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    1. It behaves like a stock, not a currency.
    2. Some people got absurdly rich off of its creation. Yes, I know that is true of fiat, but it still bugs me.
    3. There are so many coins, which is not the same as different country currencies. At least not if you live in a first world country with government backed money.
    4. You can lose it all easily. The only way to do that with fiat is to carry all cash all the time. Crypto feels like all your eggs are in one fragile basket.
    5. It is much harder to “spend.” Almost like the difference in Amex vs Visa back in the day.
    6. It is confusing to the average person. I’m pretty computer literate and understand the basics of block-chain and how the currency works, but it is still very odd and since I haven’t ever used it, I don’t understand wallets at all.
    7. I’m annoyed at the fact I cannot buy a decent video card for my son because crypto is screwing up the video card market.
    8. Along those lines, I also find it annoying that crypto-capitalists are messing up towns (mine is on the short-list) by having miners come in and build mining stations in burned out shopping plazas and running up the price of electricity for everyone else around while they get rich.

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    There are probably more, but even taking out the silly ones, there are still a lot of reasons why the average Joe is not jumping on board yet. I can’t help but feel nervous that this is an online pyramid scam.

    Please don’t get me wrong. I absolutely LOVE the idea of money that is anonymous and private. Not just so we can buy stuff we aren’t supposed to buy either, just because it isn’t anyone’s business what I’m doing. But I think there are some legitimate complaints in there as well.

    My BIGGEST complaint is that I don’t want money that acts like a volatile stock though. I want money that changes value SLOWLY and somewhat predictably. I don’t want to INVEST in bitcoin. I want a currency that lets me buy and sell things, not a currency that can bankrupt me or enrichen me at the whims of the masses.

    That is the single biggest thing wrong with bitcoin. And you have the people who hype it up and talk about how rich they have gotten from bitcoin and they don’t have the faintest idea WHY it has gone up in value, they just love that they were so “SMART” to have gotten in early and made all this money. When in reality, they had no idea that it would increase in value or why it has – they just feel smart now because they got lucky.

    As the poker saying goes, I’d rather be lucky than good. But I’m not a lucky person. So I’d rather just have my money be money and not an investment. And bitcoin feels more like an investment than a currency.

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    Feel free to flame me or, preferably, respond to my post with thoughtful comments.

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    TS

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