everyone either loses money in crypto or makes very little
And this is why people misunderstand crypto. The point isn’t to make money, and it never was. Profiteers have twisted it into that to make a quick buck from pump and dump schemes, but it shouldn’t be considered “investing” in any sense of the word.
Cryptocurrency should have two primary uses:
Facilitate transactions - needs successo widescale adoption by merchants and fast, cheap transactions
Store of value, like a bank account
BTC transaction costs are way to high and slow for #1, so it’s unlikely to get enough volume of regular transactions to even out valuations. The lightning network helps, but I think it also has problems. And unfortunately, coins with lower transaction costs that should scale better either get banned (e.g. privacy coins in some areas) or don’t catch on.
I’m still holding out hope that it’ll stabilize and become useful for transactions, but I’m not putting any significant money in until that happens because I don’t see it as an investment.
And this is why people misunderstand crypto. The point isn’t to make money, and it never was. Profiteers have twisted it into that to make a quick buck from pump and dump schemes, but it shouldn’t be considered “investing” in any sense of the word.
Cryptocurrency should have two primary uses:
BTC transaction costs are way to high and slow for #1, so it’s unlikely to get enough volume of regular transactions to even out valuations. The lightning network helps, but I think it also has problems. And unfortunately, coins with lower transaction costs that should scale better either get banned (e.g. privacy coins in some areas) or don’t catch on.
I’m still holding out hope that it’ll stabilize and become useful for transactions, but I’m not putting any significant money in until that happens because I don’t see it as an investment.