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No profits are guaranteed, it's electronic funny money with no intrinsic value and a very frequent tendency to bubble up and burst, taking years to recover from such crashes.
Cryptos are fun, but never put in more than you can absolutely afford to lose. This community was saying the same things about $GME profits being a guarantee, and look where that ended up.
True about GME, Although this one isn't time or monetarily sensitive Stocks also have no intrinsic value.
All I'm saying is put as little as $10 into the fold and see how it goes. I'm also saying be careful, Cryptocurrency is gambling in its truest form.
What's an example of a "stablecoin"? Every cryptocurrency I've seen is just a speculative bubble in one way or another with highly volatile valuations.
(also doge has uncapped inflation so it's not likely going to retain any crazy values)
edit: apparently a "stablecoin" is a cryptocurrency that has some kind of underlying asset that backs them, and they've historically been anything but stable. It requires some kind of centralized authority to ensure backing, and those organizations usually get destroyed by regulators and it leads to having a worthless cryptocurrency overnight.
Dai and tether are probably the best known stablecoins. I think we've come a long way from stablecoins collapsing left and right, considering Tether is minting millions per week usually.
Considering it's at ATH right now, maybe not the best time for people to get in? Or is there something fundamentally different this time that'll prevent things from crashing back down like in 2018?
I would recommend dollar cost averaging if you want to jump in right now.
Oh I already dumped my crypto for decent gains (bought in after the 2018 crash) a while ago and am not planning to get back in cause I'm expecting another crash.
Fair play, but I don't expect total marketcap to drop by more than half this time, considering Greyscale has been buying up nearly all of the BTC that's been mined for the last year or so and expects to continue to do so.
could you not claim that stablecoins are for the "risk averse" they've historically been abandonware cryptos that never could keep their backing
It's not the stablecoin itself I'm recommending, its these proto-banks that offer interest on stablecoins that I'm recommending.
Binance or Coinbase pro are usually the easiest and cheapest for beginners. I would recommend learning what a candle chart is plus some basics before you put any money into it.
binance kicked me off for saying I live in the usa. what's the deal with that? should I lie to them, did they not really kick me off, what's the deal with binance?
You have to register with binance.us and transfer your funds over there. It's shady and I don't like it either, but they aren't willing to code for just US users on their main site.