Did I miss the boat to invest in Bitcoin or Ethereum? Would I make any money if I buy now for long term such as 10 years. Is crypto a blip like CD-ROM in early 90s or something here to stay?
What's wrong with CD-ROMs? They are still used widely.
If you ask such questions it is going to be a pure gamble for you. You need a solid portfolio that is tailored for your goals, timeline, risks tolerance etc... Crypto may be a part of this portfolio depending on your situation.
Bitcoin is treated by the IRS as property a.k.a. investment, which means you must pay capital gains tax. Like national currencies the value is based purely on fiat (good will), but unlike them crypto money is backed by no country. I do think Bitcoin is here to stay. Belligerent governments are using it to effectively circumvent financial sanctions imposed by USA. Criminals use it to move funds too. I’m not investing in crypto because it’s like gold, the growth in value depends on conflict and economic turmoil. When things are relatively normal, stocks outperform crypto easily.
It's never too late, it's here to stay, but do spend time understanding it instead of just looking at the price. Like what it enables, pros and cons, etc.
You are better off just buying stock, look at what’s happening with Tesla and Apple stock
Bitcoin has been the best investment of the past decade. It’s not correlated with the stock market and serves a diversification of risk. So if anything owning 1% in Bitcoin is hard to make an argument against. For me, I believe Bitcoin will eventually take over as the main store of value over gold and other assets. Because countries don’t trust each other much less each other’s fiat. And thus I am invested at much higher than 1%. We are still the early adopters.
2024 Tax
14h
2407
Biden’s new tax proposal is wild
Tech Industry
21h
2657
Go woke, go broke: Google fires 28 employees involved in pro-Hamas protest
Tech Industry
Yesterday
51121
Goog Employees Arrested
Software Engineering Career
19h
535
Simple rejection email after multiple rounds of interviews
India
16h
1483
Lost respect for Modiji
First off, it's not investing. It's pure speculation if you're buying something merely on the prayer that it will go up. I would strongly discourage you from buying Bitcoin.
What is the reason for your discouragement?
Because Bitcoin is a currency, not a investment