So much noise out there. People must have high stakes on cryptocurrencies. I am in the for long term. I will see how things are in 5, 10 years time. I am too simple minded to understand the mechanics involved. So, I will sit back and let the market takes its course.
I think you are right - people put a bunch of cash into crypto and now they are panicking.
That is downright silly. Never gamble with money you can't afford to lose. They shouldn't invest, using fiat money, is that the word for cash? if they do not have faith in cryptocurrencies. Anyway, for acceptance and use of cryptocurrencies, we are talking about 5, 10 years down the road, isn't it?- or am I missing something here - so there is plenty of time for the cryptocurrencies to go up and down dozens of dozens of times. But what do I know right. Anyway...
People get carried away with the idea of getting rich quick with crypto, and they think all will be like bitcoin. Bitcoin took years to go anywhere and is unstable, but they see only the positive. I agree, five more years and that is if it becomes easier to obtain, trade, and use. So far I am not seeing any of those three on the horizon. Not to mention the fact that wallets scare the heck out of newbies because they seem so technical and frightening. I still get nervous when using a new one.
I am glad I am not the only noob around.
You are right about 'obtain, trade, and use'. I had this conversation with someone recently, and we agreed that the only way for cryptocurrency to become popular is for more big organization to start the ball rolling by accepting currency.
Anyway, we shall see. Cheers!