Is trading Crypto Currency a good long term strategy?

Hany Girgis

It can be but it’s a very volatile market , You could end up losing it all and end up in a Van down by the river .

Theodore Dueñez ⚡️⚡️⚡️⚡️⚡️⚡️⚡️⚡️

It can be it's fun just to dump a couple hundred dollars in there and let it sit forever see what happens you might get lucky

Philip J Muniz

VERIFIED

I am unsure with how volatile it can be. Not that it isn’t a good investment it’s just not very consistent ie a couple weeks ago it was 60k and today’s it’s 38k, not exactly what your looking for long term because you never know what cycle it’s in. Also the other hard part is it’s acknowledgment or lack their of from a lot of Banks and countries it’s hard to know if at some point it gets burned through that said. 

I will say though if you buy at the right time you can make some real money

Derrick McQuinn

No idea.. I don’t even know how it works

Bernard Thompson

BTC is a great long term investment because of a few reasons. Mainly you have to think about it as traceable and divisible  electronic gold. The decentralized aspect is also super attractive

It seems to have proven so over the past 10+ years, the question is will it continue to be. 

We know the dollar will continue to decline due to ever increasing supply that’s needed to support higher levels of spending in the name of growth. A perpetual treadmill we can’t get off until the wheels literally fall off. Government begets more government, and the wealthy want more, so they act accordingly.

Bitcoin specifically aims to solve this problem by providing a store of value that is limited in supply and can’t be slowly destroyed by central banks. It has a similar stock to flow as gold, except it’s easily transferred and eventually will be widely accepted. Look at the price movements of gold and BTC in the recent BTC drop. They are inversely correlated and will continue to be as Bitcoin eats away at gold’s $10T market cap. Institutions are just now starting to invest portions of their treasuries in BTC, and in 3-4 years we’ll start to see central banks follow suit.

Adam Viccaro

ADMIN

SUPERADMIN

Bob Rauch

Albert Long

Investments are never a bad thing especially if it’s something you believe in. It’s shown success and I don’t expect that’ll change in the next decade. Crypto is all about appreciation and although it’s risky, so are stocks. As a long term method, investing is always a good idea especially in something that takes awhile to gain traction and appreciate.

Cameron Ezeir

I think it is but I personally have jumped in yet. It's so volatile and I am nervous I missed the early value that so many people got. I'd say my biggest concern right now is the role centralized government will have (Like China, who just banned all crypto), and the environmental impact.

Jake Hershfield

B Burkitt

Harold

Anthony Avila

Is a bad moment, but they will climbing again and recover his worth

JO Manaure

If you like heart attacks it’s a good idea

Jason Polk

Likely a success over time but precarious times ahead as the various governments grapple with regulation and the various “currencies”  (BTC, ETH, etc) fight for pole position.  Would’ve selected the “maybe” button if it were an option. 😎

Brittany

Agreed if you can buy at the right time can

This is all orchestrated FUD to push the price down. Big money, including the Chinese gov, are most definitely buying the dip. Regulations are coming, which is generally a good thing, but the US won’t ban it (they can’t). BTC goes over $100k by end of year. Listen to the Tim Ferris and Balaji podcast episode.

Zoom out. We are early and the volatility will be less so in a mature crypto market.

Let’s do it next time I’m in SD. I need to look at ADA

You’ve done your research! Impressive! We will have to sit down and talk. I bought a bunch of Eth, Poly/Matic, SOLANA, AdA, Etc. The tech out there is really amazing

Much more to crypto than this, but to answer your question, yes, long crypto. Tech and real estate are 2 and 3 on my list.

Other cryptos either attempt to do the same as BTC or provide decentralized payment mechanisms that scale better and can be used in every day transactions. Ethereum specifically will provide the financial infrastructure of Web 3.0, a decentralized internet that will operate in parallel with the existing internet, eventually surpassing it. This is being built now but the average person won’t see it in consumer applications for a few more years.