The future of Bitcoin
I invested $50k in a project I deemed fit. I chose Bitcoin in February of 2022. I’m 26 years old, SWE. It’s now $20k lol. I wanted to hold for 5 years initially, but now I’m a bit panicking. Will crypto ever have a use case especially with US economy tanking, Ray Dalio predicting a change in world order, and it being very correlated to stock performance at the moment? I see the potential of DAOs and blockchain, and I’m personally okay with waiting 10 years as well, but I feel bad that I wasn’t able to provide get Cash flow. Prior to the crash, the goal was to join a few lending pools and make a 10% APY, but everything is down now. What are everyone’s thoughts on the future of Bitcoin ? TC: 100k YOE: 18 months — my final thoughts — Thank you everyone for the input. Overall, I’ve learned an important lesson here. You need to assess your risk to reward ratio. You need to understand the item you’re investing in (I.e. spend more time researching). You need to diversify, and you need to invest in things that have cash flow if you’re really trying to be wealthy, and then of course DCA. And lastly, don’t ever invest money you’re not okay losing. Also learned that that I’m really dumb and naive. I get itttt. Now, let me explain why I made this decision. I believed in the use case of blockchain, and believed in Micheal Saylor and Balaji Shrinivasan’s thoughts on how US dollar will soon lose its spot as the world reserve currency and be replaced by something more autonomous and more universally accessible. Idk if my decision to hold for 5 years is a good idea, but I do know that I will with all my power earn that $50k back and set up assets that produce cash flow. I appreciate the roasts. Pain + Reflection = Progress, and I appreciate this community. Thanks everyone.
Ray who?
ok zoomer
$50k from your dad on a pet project? How rich is your dad??
Then take 50 k more and put in cardano 😀😀
Wouldn’t touch any crypto project apart from ETH and BTC. Everything else has a solid chance of going to near zero and never going up again.
BTC will go much lower, strap your seatbelt on. No chance it goes back to where it was. Idle hands and market manipulation drove the price up. Not actual use cases.
Damn
Well what can I even do now
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Lol should have known blind was going to rip me apart 😂
Sorry but this is so funny. Are you being honest ? This sounds like a comedy scene from a movie
No future. Very cool tech, no practical value.
Why do you believe that ?
Because I don't see any use case where it helps, obviously
Bitcoin is a solution in search of a problem. That is not how successful tech is built.
What makes you say that ?
It’s the truth? It doesn’t matter how conceptually and technically interesting something is if it’s useless. If crypto has so many game-changing use cases, why is there no use?
Buy more so that I can sell high
Fun coupons
You would have been better off going to Vegas with your daddy and betting it all on red. You’d at least get a comp meal at the buffet.
Chillll, what should I do ?
Op, consider it as a learning opportunity. There are plenty of lessons to be learned from this. On more practical side, the choices are: either HODL, or sell (at loss). Buying is not an option since you have no money, lol
I see this is your first recession, patience Padawan
I see this is your first Ponzi scheme. Last one out the door loses.
You also work for Procore