There's been so much talking whether investing in any type of cryptocurrency is any different than a game for profits / gamble, such as stocks or options...or...you name it.
It can't just be me who has failed miserably trying to convince friends, family members, colleagues that it would be wise to invest some of their spare money in crypto.
But not any crypto.
You see there are something like 5300+ crypto projects out there according to Coinmarketcap / Coingecko and let's be honest. A shit ton of them are scams...sad but 100% true.
So, while I was trying to explain to them , the reasons why they should invest in cryptocurrencies rather than holding their money in a bank where it's supposed to be safe...
Safe? Read this article first before you jump in conclusions, and let me know how "safe" you think it is to trust your savings, your hard earned money to these institutions.
...I've found my self in a position where I couldn't provide an answer about the real life use cases those projects have...except for a handful of them.
Wow...just a handful of them out of the 5K+ eh? Well, there are possible explanations. Either I have no clue about many promising projects with real life use case, or....they are indeed just a handful of them.
Which brings us to the next question: "If only a few of these projects have real use case, how can one prove wrong a "potential crypto candidate's" allegations that value is being created out of thin air? Pfff...
For me it's impossible to do so. I mean I am clearly doing something wrong when I spew words such as blockchain or blocks or inflation. They have that stupid look on their faces...as if I am trying to deceive them or as if they had just seen an alien...
Unless someone is an "insider" there is absolutely no way to be persuaded...if however you have a secret sauce...lemme know in the comments. (I ain't talking only about HIVE here...)
So back to crypto where at least from where I stand do have real life use case.
Society has come to a point where there's almost zero privacy for individuals. Nada. With a click of a button you have almost all necessary information about one's life. Social media platforms and big corporations are stalking us. (Facebook - Google)
Our very own smartphones are the biggest "rats" and even provide our exact location and actions at any given time. But what does that have to do with crypto, you may wonder? It does.
A) People eventually will be more interested in their privacy . That's the reason private coins have been created after all. Absolute privacy...untraceable transactions. Every coin that falls into that group has a bright future if you ask me. And the king of them all? Monero of course (XMR). I am a huge fan of this coin...and yes, this isn't a financial advice bla bla bla.
B) HIVE - STEEM. You think I am exaggerating? Let aside the fact that one can contribute and earn rewards either by blogging / developing / vlogging and many other ways , but have you really checked the curation rewards one can earn when they have a significant HIVE / STEEM stake? And I ain't talking about millions of SP...but anyone holding 150K HP or more can already make a living through curation rewards in some places of the world. Note that HIVE and STEEM are sitting at 11 and 15 cents respectively. What happens when they hit 1$? Probably one could make a living anywhere in the world...regardless where they might live. And the best part? Have your cake and eat it too. Who needs Steem when there's Hive around eh? Just saying...
C) That should be Ethereum and NOT Bitcoin. You see, not only ETH is the fuel required to transact with the network, but because a ton of apps have already been built on top of ETH blockchain and that number is only going to go up the following years especially when ETH2 launch, people will always need that "fuel".
On the other hand, someone could say "hey...what about BTC dude?" Well BTC is overrated if you ask me. Not only because I literally see no real life use case by holding it but also because of its "ancient technology"...and don't tell me about Lighting Network and those bullshit...It is definitely a valuable asset but only because "we" have added value to it.
That's just me tho...
So...what are you holding fellas? Lemme know in the comment section below.
Have a good one. Cheers.