I don’t consider myself a crypto booster or a person who thinks it’s terrible and all just a big scam/ponzi etc. For sure, having unregulated money has been great for all kinds of scams and other illegal activity but I think my main POV on crypto has always been, hmm, let’s see what happens.
I bought a little crypto in 2017 and still hold most of it. A few year ago I cashed out some and used the proceeds to fund some travel and other things. Net net. I am way ahead on my investment but I’m not considering buying any more. I never bought an NFT or any other derivative. My current holdings consist of about 1 BTC and about triple that value in ETH along with a small bag of alts that I bought for fun with a total value < 1 ETH.
Is this a good investment? Who can really say. We are way off the peaks from 2021 but still above the 13$/ETH I paid in 2017. The YTD ETH chart:
Looks better than any of my other investments. Most people that bought recently are ahead. I think that starts to change the mindset of investors/speculators. Despite all the scandals, rugpulls etc. the token prices seem to have some resiliency.
I don’t think there’s any really future for crypto until the laws/regulations get figured out. You can’t put ownership deeds on the chain unless there is a Govt that will enforce that. Its not clear at all what will happen there. It does look like we are going to get ETFs though.
ETH has always been more interesting to me than BTC because the culture is more dynamic. BTC people like the fact that it doesn’t change, but that is rarely a winning strategy in tech. ETH is doing more innovative things. If there is something to “figure out” it is way more likely to happen with ETH. PoW->PoS was a big accomplishment that bodes well for them being able to make other advancements in performance and usability which crypto will need to be successful.
If I am so happy with ETH why do I bother holding a BTC? I really don’t think the BTC Bros are going to be right, but I have been wrong before. I keep 1 BTC as insurance in case they are right because I will need some captital to be able to escape the world that these people would make.
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