I'll be honest with you bmneveu, I've read some white papers, watched documentaries, read (too many) blogs, read a few books, listened to podcasts and I still don't understand crypto. Unfortunately the space is so riddled with pumpers (almost every blogger and podcaster) trying to get listeners/followers to get their fellow "apes" to buy higher making the old hands "richer".
A few comments of mine about crypto in general, or as people call it nowadays, the "crypto space".
I like to see both sides of every story since every story does have a bearish side. Good luck to anyone trying to find a non-biased podcast, blog, book, documentary or video on youtube about crypto. Almost every one already has a stake in crypto and has incentive to push it higher.
There's a limited amount of bitcoin, okay, but nothing is stopping anyone from inventing new coins every day. Then if I buy $25 worth, I'll pay some $5 just to move it to a cold wallet? No, that's not going to work when I can buy stocks for zero commission. Lightning network is better, but still not going to work.
Bulls speak incessantly of a "four year cycle" yet we've only been through two of them - unlike stocks which have been through too many to count.
I haven't heard one good story about crypto taxes from those that actually do them, and that includes crypto bulls who have admitted the taxing part is near impossible to figure out.
Luckily, I don't need to shoot the moon in crypto to accomplish my goals unlike many mostly younger generations who are betting the farm on it. All together they make up .01% of my investing portfolio (not including home) - a trifling amount that allows me to "have a stake in the action" and maybe a lotto ticket that's worth more years down the road when I sell. It's like the 2021 iteration of Dune. I didn't understand the deep ins and outs of the movie, but it still was pretty cool to watch.
My guess is the stable coins will last (USDC) as long as the transaction fees are very minimal or non-existent. Tether doesn't sound very stable to me though.
If you're going to do it, do the real thing. As it stands right now, the ETF's, Square, Paypal, Robinhood are not actually crypto. The new ETF is probably going to be a long term loser and besides, you're just lining the pockets of institutions in buying it.
I am not wishing for a collapse. I hope everyone is able to reach their goals in life and find happiness no matter what vehicle they use to get there.
