Just one of the many reasons why investing in unregulated markets like crypto is a foolish idea (May 13, 2022)

Correct. Blockchain has been around for more than a decade now and yet to see any adoption outside of cryptocurrency. A decade is a looooooong time in technology.

For a perspective:
The World Wide Web (not the Internet) was made available to everyone in January 1991 and in within 5 years it had news sites, shopping sites, communication tools, documentation/reference sites, and of course porn!
And some of them are still online today. If you stretch that horizon from 5 to 10 years, you'll see even more recognizable names.
Same with smartphones. While there were some smartphones before iPhone, the technology was made mainstream by iPhone in 2007. Try to remember how many changes and advancements were to them between 2007-2017.

On the other hand, cryptocurrency and blockchain enthusiasts are still claiming it's a new technology. Meanwhile technologies like 3D printing, smart assistants, ride sharing etc came after or alongside cryptocurrency and became mainstream.

Hell, twitter and facebook came just 2 years before first bitcoin and in the same timeframe went from a niche apps to tools used in Arab Spring movement to popular news apps and now both are hated by most public for various reasons.
 
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When you discover bitcoin sitting in your long forgotten wallet.

But then you see the transaction fee...
 
Though I am experiencing FOMO time to time, about Crypto bandwagon, but I am still not convinced of the whole idea.
And few 'influencers' open declaration of their portfolio with ~15-25% in crypto makes the FOMO even worse.

I was kind of relieved when it was banned. ;) :D

For me it's just internet gamble where few people are no doubt making money, but majority isn't.
I will stay out of it.
 
mathrisk said:
Though I am experiencing FOMO time to time, about Crypto bandwagon, but I am still not convinced of the whole idea.
And few 'influencers' open declaration of their portfolio with ~15-25% in crypto makes the FOMO even worse.

I was kind of relieved when it was banned. ;) :D

For me it's just internet gamble where few people are no doubt making money, but majority isn't.
I will stay out of it.
Click to expand...
Actually it can be proven that the crypto investors as a whole are losing money. Proof :


1. Divide participants into 2 groups : investors and miners.*

2. Miners, by definition, either hoard their crypto, or sell it. If they hoard, no money earned from those mined coins. But if they sell, they earn money which is greater than zero. This is separate from the money they lost in power bills for mining.

3. This money earned by miners has definitely come from investors as a whole. Even if some investors have made money, many more must have lost money or some have lost a lot more.

QED

* Even if one individual can do both mining and investing, consider such individuals as 2 identities for the purpose of this proof, we will show that their "investor" identity is losing money.
 
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