ETH is switching from proof of work to proof of stake in a few months.
If they’re successful I’d bet ETH gets to $10,000+ this cycle.
People that know the superstar devs say ETH has nearly all of the young superstars.
Most of these types are autistic and awkward and I guess they feel very comfortable over there. Vitalik seems very autistic and awkward and he’s like a god in that world.
Just read your post. I don’t sleep very well tbh.
It’s even more exhausting when I have a leveraged trade open. I’ve had them swing from plus five digits to minus five digits while sleeping before. I try to not do them but sometimes I can’t help myself.
I also have my girls shit that I need to manage now that she has a good chunk. And her brothers. Also one of my friends.
I probably worry about their stuff more than I do my own. And I’m very silent about crypto in my regular life. I’ve tried to avoid being in this position but here I am.
Yeah that must be really stressful especially managing other people’s money in investments, I did it for a period with my parent’s money after I convinced them I’ll make them some money if they give me about 6 months or at least not lose any. I already in my mind if I had lose any of their money I would just make up the difference. I did end up making them some money, it wasn’t as much as I want or thought I could make for them (made about 25% for them) and I was like you, I cared about their investments more than my own and it was so stressful. Glad now it’s just my own money I’m investing & managing, lol I have a lot of risky stocks now, mostly crypto related stocks and like I said earlier some of the money is in ETH. Yeah it’s still stressful now but at least it’s just my own money and not investing my parent’s money for them anymore. It’s still not healthy I have majority of my portfolio in risky investments and mainly crypto related and I sure have a hard time sleeping some days when crypto market have big corrections. I think once crypto markets go a lot higher I will start selling lots of my crypto related stuff and rebalance in safer stocks and also take some profits off the table if things work out like I hope and sell some ETH. I think in your situation u have a lot of money already so maybe have less at risk in cryptos and start trying to enjoy life, all the money you make is useless if you are killing your health and can’t enjoy it. My financial situation definitely isn’t half as good as yours but really hoping by investing in these crypto related stocks and ETH I could get in a better position, if it doesn’t work out I’ll doomed I guess.
"BTC is more of a crypto commodity than currency & competes with gold as a store of value, whereas ETH is the backbone of the crypto-native economy. To the extent owning a share of this potential activity is more valuable...ETH should outperform BTC over the long run" - JP Morgan
They don’t even mention the switch from POW to POS which is obviously the most bullish thing ETH has going for it. It should solve their scaling problem.
It’s amazing how far behind traditional finance is when it comes to crypto.
Detox I’m not sure if you look into this crypto yet, it’s called Polygon(MATIC), my brother’s friend has been investing in cryptos for years and this is one of his top 20 holdings, he bought in around $0.29 and says it still has lots of room to go and thinks it will be top 15 in market cap this bull cycle. I’m just sticking to ETH for now, but was curious what you think on this, if investing in MATIC at this pt is worth it. I see MATIC is right now at $0.80 in price, what kind of price u think it could reach this bull cycle? Does this have more potential than ETH investing in MATIC at this pt?
Billionaire Warren Buffett is joining the long list of executives saying serious levels of inflation are starting to take hold as the U.S. economy roars back from the COVID-19 downturn.
https://finance.yahoo.com/news/warren-buffett-we-are-seeing-substantial-inflation-and-are-raising-prices-220539307.html
This is How The US Dollar Dies –
Lots of talk of the USD losing reserve status, and an entire global currency collapse
Few realize we are in the middle of it right now, watching it happen, but most fail to realize because they don’t understand the signs.
First, we have to understand why currencies die and yes, all currencies, either devalue or die. Since the 1700's we've seen 750 different currencies and only 20% remain, and all of them have been devalued. This means they buy less today than they did originally
This is always because the country racks up too much debt. To pay it back, their options are limited to only 4 options.
1. Austerity, 2. Debt Default, 3. Raise Taxes, or... 4. Printing Money and Devaluation...
#1 is too hard, 2 and 3 have limitations, so 4 is always chosen
Reserve currencies never last, and the transition takes time and is rough, to understand this, let's get some historical perspective. Let's quickly look at 2 transitions for the clarity we need to know where we are in the cycle and where things are going, stick with me here
First, The Transition To USD - during WWI European countries abandoned gold to print money for the war The US became the lender, allowing the US to amass 2/3rds of the world's gold and the position of power.
The US took the lead and a global gold standard in 1944 @ Bretton Woods
This was a 30yr transition, so when people want to know when the next transition happens, I say, "We are watching it happen right now” the world is de-dollarizing, and events happening over the last 12 months and ongoing are spreading this up, but... just wait, it gets better.
It’s not “when” it’s now, per the IMF, the USD dominance is declining, falling from 64% in 2017 to 59% in 2020, but it's about to accelerate. Also, per the DXY index, we can also see the USD is down 10% this year, but... these are very misleading indicators, stick with me...
Everyone's looking at wrong metrics because they are comparing prices to fiat currencies. Instead of looking at these in comparison to what money is used for = purchasing goods and services. So, we must compare the money to the purchasing power, let me show you a few examples...
Starting with the obvious, GOLD. We can see it was $20/oz, then jumped in 1933 to $35/oz, and then in 71' after removing the dollar/gold peg, it went haywire. With no forced peg, the purchasing power of the dollar has declined to $1750/oz gold. Is this holding purchasing power?
what about Real Estate? Always a great investment right? How has the USD held its purchasing power when compared to RE? This index highlights the loss of USD purchasing power when priced in RE. Home prices are not just going up, It just takes more dollars to buy those things...
And sure you have seen my favorite chart, it's one of my favorites. This is the price of Bitcoin compared to USD. So... is BTC going up in value or is the dollar coming down? how is it holding up in terms of purchasing power?
Now for an even better more telling historical perspective, ready for this one? It will bring everything together and flip your entire mindset... Let's look at German, the Weimar Republic.
in 1922 Germany defaulted on debts to repay war reparations so France and Belgium invaded in order to recoup their funds. Germany ordered workers to a “passive resistance” which meant they asked workers to "not work" and Germany would "pay them for not working" How did they pay?
They paid workers for not working by "printing" money, of course, option #4 when nations can't pay their debts.
Let's compare what the US is doing right now compared to what Germany did. the first thing is they printed lots of money.
then... remember the key piece, Germany paid the workers to "not" work... any similarities to what the US is doing right now?
Doing the same things will always lead to the same results... For perspective, the book "when money dies" stated people in Germany thought they were getting rich as asset prices shot higher so they "cashed in" Consider this before you sell RE or bitcoin because its ATH prices
For sure I agree the USD is getting devalue and will continue to do so, but in our lifetime we won’t live long enough to see the USD die, yeah eventually USD most likely dies, remember lots of countries around the world is printing money also during pandemic, it’s not just USA, so I can’t see the USD die anytime soon especially in our lifetime. I think China will be the powerhouse in near future because they are quietly accumulating gold and cryptocurrency all these yrs. USA just can’t compete and will no longer be powerhouse in the world.
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