Buy Crypto Or Have Fun Staying Poor!

[Mauser]

Comparing 1913 dollar value to today's value is a bit misleading on it's own because the salaries also changed a lot compared to 109 years ago. With a good salary today we can save much more than back in the days. I agree with you that inflation is the biggest risk we face today. For more than 10 years we have been in a low interest rate environment waiting for inflation to pick. This is politically motivated so people don't leave their money in a savings account. The government tries to force us to invest our money. To get around it the only real alternative is to save money in crypto currencies. It doesn't seem like that inflation is going to slow down in the near future. The biggest mistake is right now is to keep fiat money at the bank with 0% interest rate.

[andriarto]

Inflation that occurs from year to year and continues to increase, of course, makes people dislike saving, whose value development is not greater than the increase in inflation. until finally there is a cryptocurrency that provides a much greater development than an increase in inflation, but to invest of course we must study it first, because it contains risks, so not all crypto buyers profit from it

[LogitechMouse]

If you're still primarily holding fiat, you're not paying attention to what we do here on a daily basis. Inflation, according to Elon Musk, is the most regressive of all the tasks. The US dollar has been the strongest currency for the past 100 years, yet it has lost 95% of its purchasing value since 1913. Fiat currency will always lose value over time, but cryptocurrency will always gain value over time; the two are moving in different directions. According to recent studies, 40% of all US dollars in circulation were printed in the last twelve months. Every day, they are printing away our wealth. Opt out and invest in cryptocurrency instead.

Yes and No.

Yes for the fact that fiat has been losing its value and it has been created to lose its value because of its unlimited supply.
No because buying crypto isn't mean that you will already be rich. Most of the investors who tried to invest into crypto ended up as losers. Why? They just invested just because they are greedy enough that they didn't learn anything about crypto including its risks.

I'm not saying that not buying crypto will make you poor because I myself bought some cryptos and TBH, I'm not into the place where I am right now if I didn't bought cryptos years ago but on the other hand it doesn't mean that if you bought crypto it will make you rich already. It also comes with different factors like risk tolerance, your knowledge about crypto and how you will earn money from it. Another one though is that not all "cryptocurrency will always gain value overtime" and in fact there are only a few coins that gained value overtime. Those other coins especially altcoins? They just went down, and down, and down. Only Bitcoin and other top coins gained value.

[Sterbens]

Quite right, I also tend to believe that fiat money will simply disappear and there will only be digital money with which it will be possible to carry out financial transactions. So time goes forward and the entire banking system will change with the transition to cryptocurrency. So now we are only on the verge of new discoveries and therefore I think it is necessary to invest in cryptocurrency, as in the future it will bring great profits for all of us. Good luck to everyone and great success in business.

Just disappear for no reason? do you mean the earth has been crushed by the waves of the sea?
The fact is that we use crypto to buy housing and buy a loaf of bread to eat. Fiat will not disappear, but its value will continue to decrease over time. Digital transactions will expand, but the government is not an institution that is all friendly to the existence of cryptocurrencies. Aren't a few of them opposed?

So to anticipate the loss of value in fiat, the government began to raise the CBDC so that one day when all the useless paper money was scattered, the government would know how to regulate public finances so that they continue to flow into state funds.

[Tumanggor]

Quite right, I also tend to believe that fiat money will simply disappear and there will only be digital money with which it will be possible to carry out financial transactions. So time goes forward and the entire banking system will change with the transition to cryptocurrency. So now we are only on the verge of new discoveries and therefore I think it is necessary to invest in cryptocurrency, as in the future it will bring great profits for all of us. Good luck to everyone and great success in business.

the DAO concept will shift the bank. Currently, the majority of human transactions still depend on third parties, namely banks. when mass adoption of crypto occurs then banks are not really needed anymore

large amount of transactions directly from personal wallets to other people is the future that many people look forward to, banks will only lose out over time

[laredo7mm]

f you come to crypto just because of quick profits, i think you will always stay being poor because of your mindset. But if you come to invest in crypto because you believe in it and you know there are a lot of opportunities to make profits, then i think crypto will make you progress. But honestly, there is still no guarantee in crypto but as long as you know how to manage your investments and always make it right, and invest on the amount you can afford to lose, then probably you will also grow and make more progress in your life.

You know what most of coming to crypto by saying I am here for the sake of technology but when you lose their initial investment because of being overconfident they leave crypto with depression. Do you know 95% of crypto investors lose money and this number is going higher? Most investors lost their capital because of their over-expectations. If a newcomer came to crypto by seeing 2,50,00000% raise of Shiba inu over the year and expect that from every coin then what would happen? We need a mature mindset and control of our greed.

Let's see some data about new crypto traders.
 

1. 80% day traders in crypto quite trading after first two years and in three years its touch 87% to 90%.
2. Only 60% of crypto day traders still trade after one month.

That's means most of the traders lose their capital or are in a negative fund even before they understand what actually crypto is.

[el kaka22]

The US dollar has been the strongest currency for the past 100 years, yet it has lost 95% of its purchasing value since 1913. Fiat currency will always lose value over time, but cryptocurrency will always gain value over time; the two are moving in different directions. According to recent studies, 40% of all US dollars in circulation were printed in the last twelve months. Every day, they are printing away our wealth. Opt out and invest in cryptocurrency instead.

I would say that 1913 to today salaries did not change as well as it should. The reality is that people in 50s and 60s worked in silly jobs and still managed to buy a house. Tell me, what are the chances of a 30 year old to buy a house, all debts paid off? I can tell you that it is near zero except a few very rich ones.

Definitely there are rich people in all generations, Mark Zuckerberg had billions before he was 30, but do we base the whole generation on that? We have people who are at great jobs who still fail to buy a house, even software developers who are seen as one of the highest paid people end up not being able to buy a decent house, maybe a 1 room apartment but that's it. So, there is something going very wrong with this calculation.

House is just one example, from school to medical there are many other sectors that we can take a look at. What got better? Working conditions are definitely far better these days, and tech is better too so you get more help instead of doing manual labor all the time.

[milewilda]

Actually what the OP says is true of investments in general. Before Bitcoin came along, it could be applied to stocks of good companies, gold, Real Estate, etc. Investing, apart from wanting to make a return, is a way to hedge against inflation. With the Bitcoin, we have the best asset to protect against inflation and the most profitable, at least so far, since its creation. The OP skates in including shitcoins as Lucius says, but the picture he paints is generally correct.

If you do just look around then you would really able to find out things which would really be worth for you to invest on even into those years where crypto hadnt existed yet.
There are lots of traditional investments which could really give out the chance for you to be financially free but of course this isnt something simple that you could able to
achieve yet this do involves investment and proper handling out of finances.This isnt something simple that you should put then wait for money to grow.LOL!

[Oasisman]

Basically, nobody gets rich If they don't want to engage in any investment including crypto. If they keep on working for their day job, nothing will happen but your financial status will always come in circle.
Investing in crypto doesn't guarantee that you're going to be rich in the future, especially when you're not doing a good research to the crypto that you're invested.
Bitcoin could be an exemption as it has been constantly increasing it's value, but the problem is some thinks Bitcoin is way too expensive to buy now.

[Obito]

Sorry to burst your bubble but not everyone can buy cryptocurrency even if they want to and even if they see the opportunity in it, some are so poor that all the money that they got is going to be used to survive this month and hopefully stretch it towards the next month. Maybe if you've lived in an underprivileged life, you would know that this isn't going to be the case, everyone wants to get rich, it's just that they don't have the money or means to do so. Be a little sensitive sometimes OP.

[LastKiss]

Basically, nobody gets rich If they don't want to engage in any investment including crypto. If they keep on working for their day job, nothing will happen but your financial status will always come in circle.
Investing in crypto doesn't guarantee that you're going to be rich in the future, especially when you're not doing a good research to the crypto that you're invested.
Bitcoin could be an exemption as it has been constantly increasing it's value, but the problem is some thinks Bitcoin is way too expensive to buy now.

Well some people get rich from doing corruption in government , many middle income people just do work then get home and then get loans and their life just like that for years because they already feel enough from what they have like a stable income and simple life. Some people who already invest in cryptocurrencies had losses because they sold when the bear market happening and they blame cryptocurrencies for scam etc.

[jrrsparkles]

I respect the statement but we can't expect everyone to become an investor, not every fingers looks same right? People who bought it in 2010 became billionaires now if they are still holding but its not only limited to cryptocurrencies just buy anything which has appreciation of value by years so all we need to know what is an asset and liability which is what keeps the people being rich or poor.

[xSkylarx]

I respect the statement but we can't expect everyone to become an investor, not every fingers looks same right? People who bought it in 2010 became billionaires now if they are still holding but its not only limited to cryptocurrencies just buy anything which has appreciation of value by years so all we need to know what is an asset and liability which is what keeps the people being rich or poor.

You have a point since we are not the same but knowledge is power which its makes you outstanding to everyone. All people are the same but when you have a knowledge this means that you will Excel to others. But taking risk is the key since if you dont take risk you will not earn a single money

[adaseb]

Inflation is nothing new. Sure lots of money was printed but the fed is doing tapering and we are going to get lots of fed rate increase this year.

We already see that the financial markets don’t care about covid. So I don’t think the fed is going to reverse their decision. With this we should see inflation go down within the next year or so.

What will happen with stock market or crypto, nobody knows but inflation should go down to the 2% annual rate.

[yhiaali3]

I am with you that the dollar and fiat are inflated daily and lose their value, it is also true that replacing them with cryptocurrencies is the best solution, but we cannot generalize about all cryptocurrencies, there are some cryptocurrencies whose value collapsed completely within a short period also there are hundreds of fake cryptocurrencies that appear Every day without value and without any project or any future, this saying can apply to Bitcoin and the first-ranked currencies in the market that have proven their existence and maintained their value over the past years.
Daily we see the collapse of dozens of shitCoins on Coinmarket, so you must be careful when saying such talk about replacing fiat with cryptocurrencies.

[bittraffic]

Great warning, Who would want to be poor?

Buy Bitcoin and not buy crypto, there are lots of them that aren't going up. Some cryptocurrencies actaully are just like fiat which ist value is draining just like fiat which its purchasing power diminishes over time.

I wouldn't be surprised if President Biden really will say Buy Bitcoin in public especially when he is just too vulnerable to repeat what other people will say to him. Just when someone says GO Brandon, he also said " I agree, Lets Go Brandon"   Here's that video https://www.youtube.com/watch?v=ETmlD0l4T3Y

[jrrsparkles]

I respect the statement but we can't expect everyone to become an investor, not every fingers looks same right? People who bought it in 2010 became billionaires now if they are still holding but its not only limited to cryptocurrencies just buy anything which has appreciation of value by years so all we need to know what is an asset and liability which is what keeps the people being rich or poor.

You have a point since we are not the same but knowledge is power which its makes you outstanding to everyone. All people are the same but when you have a knowledge this means that you will Excel to others. But taking risk is the key since if you dont take risk you will not earn a single money

Taking risks on something we have zero knowledge is also a bad decision that is why I said it may not be suitable for everyone. But once they're into the field they will gather knowledge, experience with ups and downs will teach a lot of things for them then they will surely excel in what they are doing.

[oHnK]

We already see that the financial markets don’t care about covid. So I don’t think the fed is going to reverse their decision. With this we should see inflation go down within the next year or so.

If you say the financial markets don't care about Covid, you'd be wrong. The financial market in this case is banking, especially the central bank said that their policies are focused on economic stability during the pandemic, but in my view they are doing the opposite, such as printing large amounts of money. Capital market conditions also had an impact due to the pandemic, companies in the medical sector experienced a significant increase in the value of their shares, so it is hoped that ordinary people do not need to save in fiat.

[bocyaj]

If you're still primarily holding fiat, you're not paying attention to what we do here on a daily basis. Inflation, according to Elon Musk, is the most regressive of all the tasks. The US dollar has been the strongest currency for the past 100 years, yet it has lost 95% of its purchasing value since 1913. Fiat currency will always lose value over time, but cryptocurrency will always gain value over time; the two are moving in different directions. According to recent studies, 40% of all US dollars in circulation were printed in the last twelve months. Every day, they are printing away our wealth. Opt out and invest in cryptocurrency instead.

The words are fact.I had seen many people who is poor and became a middle level and upper level from poverty line.Only thing is, they need to buy a good amount of crypto at the price of dump one. If you buy maximum amount of count will be good. When people found the high value in the market. They need to fix their mind with minimim profit and get huge from it. Nearly 70 percentage of poor moved to normal level from their poor stage.

[Leviathan.007]

Buying crypto cannot guarantee anyone to become and it's just a way to invest money just like gold and real estate the main difference is about the risk level and anyone can choose a market depending on himself, for example, some people cannot accept too much risk in their life and they will choose another asset like gold surly they will accept less risk and as result, they will get fewer profits as the rule says to take the risk to take the reward, buying bitcoin and other cryptocurrencies make people rich and I would call them new rich generation because this will make people rich in a short period of the time.