Why is money made worth more than cash today?
Why is money made worth more than cash today?
No, that isn't really how it works. In fact, trying to make quick money from Bitcoin usually backfires and leads to disappointment.
There are many reasons to succeed, but if you only care that not enough was achieved, there will never be a "not enough." This is why so many millionaires feel stuck. Usually, these people earned their wealth without specific plans in place (unlike those who got rich on their own). The same issue hurts crypto investors with big dreams like "get to the moon," because they don't have clear goals to work toward.
Looking back, it's okay if a perfect deal is worth taking the risk. But on the front side where an investment has a high chance of losing money versus one that brings some return, it feels more like gambling. Absolutely not worth the effort when buying Microsoft stock a year ago was up 30% today there are much safer places to play even Las Vegas offers a fun vibe. The main problem with mining is that the final product could end up being less valuable than what you spent on and worked hard for creating it. This can happen too with things like coal or gold, but since there are real physical markets that buy these goods legally they count as a serious investment. To make something whose only use right now is to pay criminals for ransom payments and other illegal trade deals isn't needed by the world anymore. Are you rich? Do you know any rich people? I'm really curious to hear what you think.
No, crypto is not a Ponzi scheme. A Ponzi is just fraud, and crypto isn't fraud. Plus, nobody asks for your money unless you are stupidly tricked by scammers. I already bought some bitcoins from uphold.com and will keep using them to trade. On the main point, bitcoin's value comes from more people holding it. And yes, you can turn bitcoin into any hard currency like cash or gold.
I feel it's possible for them to do that. Someone could start a brand new type of money with the goal of making prices go up and then crashing them down. Cryptocurrency has never had any real track record. Metals, and even paper money from lots of countries have been around for over 100 years. Crypto only has less than 10 and some, like Chia, have fewer than 5 years. There isn't enough time to tell if they are fake or not.