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RE: The Problem With Bitcoin Is You
You have some terrific blogging skills.
Don't stop investing, it's the dollar cost averaging that will win it for you in the long run. Start diversifying too. There are many people who think investing in cryptos is different than securities, it's not, it's still investing. There are are also many options available beyond Bitcoin. Use this downturn as an opportunity to do more research and spread your bets. I'm not giving up, I'm doubling up
Thank you. This is also what I'm trying to tell myself. (When I write in the second person, it's usually aimed at myself first.) So I really appreciate the encouragement.
Securities feel like a bigger barrier-to-entry to me, maybe that's just an error of perception. I do have an IRA and a mutual fund, but I don't put much into them.
Crypto for me seems to be replacing the savings accounts I learned about as a kid, the ones with the compounding interest. Want to know the results of compounding 0.1% interest on an investment of $200? I'll tell you what - enough to make a whole generation want to say screw it, we'll take our tuppence and use it to feed the birds instead.
Crypto may be the investment choice for the next generation but since you are American, look into purchasing a cryptocurrency Exchange Traded Fund(ETF) in your Roth IRA or 401k. Such an investment vehicle would include any company that is utilizing this technology. Everyone is trying to find the next Google or Amazon but it may likely be Google or Amazon which benefits the most from this technology and other already NASDAQ listed securities. A lot of these tokens don't represent a claim to profits and are open-sourced so anyone can steal their business and monetize it.
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