3 days ago, Peter Mallouk, a certified financial planner and president of wealth management firm Creative Planning said,
What we're going to see, most likely, is, we're going to see cryptocurrencies collapse."
He's not entirely wrong. Eventually all Fiat systems are going to collapse too, just like Zimbawe's dollars and Venezuelan's bolivar. Hey eventually the world's gonna end too you know.
There are so many types of virtual currencies — like litecoin, ethereum, ripple and, of course, bitcoin — that "there's no way that even a fraction of them can survive,"
As long term hodlers in this field, we've got to research and choose wisely. Chances are the ones that have constant updates/communications, established partnerships with traditional businesses, real use case utility for their tokens, etc. will survive into the future.
"in the meantime," if you buy cryptocurrency, "you get no income. It's not a real investment. It's speculation."
We have PoS that enables passive income. A good example is the decentralized exchange IDEX which returns a portion of fees to stakeholders who help secure the network. Of course there's many many more, which I will not cite (since I know many aren't even here on Steemit for the content).
Instead, invest in "things that are going to pay you to own them," he says. "Own real estate, where you're collecting rent. Own stocks, where you're collecting dividends. Own bonds, where you're collecting yield."
This is sound advice for traditional investments. For example Reits are required by law to distribute at least 90% of its taxable income to shareholders annually in the form of dividends. Here
In addition most corporate bonds pay upward of 5% annually as coupons.
"There are companies that are very heavily investing in blockchain and you can buy those companies — companies like IBM and Accenture... "companies like Walmart are using it to develop ways to run their inventory"
There's no denying that blockchain is the future, said this many times.
Even Google, the biggest tech behemoth in the world, is investing in blockchain here and here. They have admitted publicly to missing out on the first wave, and definitely would want to be part of the revolution. Amazon and Baidu too!
There are so many ways to be involved in blockchain, be it technically, financially, or being spokespersons/adopters, which we all will be in the near future.
The CNBC article found here.