QUOTE(vanitas @ Feb 6 2021, 02:04 PM)
This is so technical, so I wouldn't research more on it. Assume there is no quantum risk, but legal risk is still there.
Any country can ban the exchange, or the bank deal with cryptocurrency transaction. Most important country would be US, which banned gold in the history before.
Then security risk, on the exchange, or own wallet, or Defi platform. A lot of people fall into TAC scam and giveaways, airdrops scam afaik. Or even loss seed phrases. The longer the period, the high chance of occurrence.
And yes, I know all the risks got workaround, or mitigation plan.
So IMO, holding coins for long term (5 to 10 years) is both very risky and rewarding at the same time. I never threat my coins as long term investment even until now, but speculation. It was something I can lose all (because all left there is pure profits).
For me, the technology on current stage is lousy, unfinished, unusable for the public. I can't see the way it improve the world yet, but maybe improve my net worth, which is why I speculate. I am a speculator, not a no coiner or coin believer. But I can expect some improvements over time, which is to be observed later and change my mind.
Anyway, I respect people who can put 90% money into crypto, hold for very long term, and firmly believe it was the future.
Yea, I know you didn't research much about it - Hence was easy to refute, but I do encourage you to read more about it.
As for legal risk, the whole idea of decentralisation and incentives is built to meant to be antifragile against legalism or state owned attacks. An example in our own backyard, the two years when exchanges were shut down effectively driven the whole scene with volume underground, startups moved and incorporated in Singapore despite tighter adherence to the FinCEN ruling, resulting in a pretty dead functional crypto scene in Malaysia albeit rich with speculators and punters. Fighting against innovation has never worked to the benefit of society as a whole.
As for whether the technology is already improving the world - For you it might not be worth much, but for the ones who are oppressed, requiring an exit/parallel financing system, an opportunity: Crypto is the way forward for them. I know no other field with a richer startup scene consisting of youths below 25 other than crypto. And at that age and financing capacity, it is impossible to even raise a finger against your Wall Street institutions in the traditional finance setting, but in crypto they are literally chipping away on Wall Street's monopoly on finance. I can list other examples, but for those you can do your own reading online, pretty easy to find - I will tell you what I know on the ground which I myself am involved and seeing with my own eyes.
Sure the tech sucks right now from a perspective, but this is entirely as demand far exceeds supply, so from that perspective can you say something which "sucks" have so much demand? Ultimately, you can't deny it
works. Uniswap is 24/7 and never goes down, and anyone can list on it without prejudice. Compound and Aave are incredible money markets, and you do not need to go through a bank. Synthetics are everywhere, albeit restricted with NASDAQ being an oracle. And more. Some other forummer here quoted Layer 2 scaling solutions, which realistically I think will only reach maturity some time late this year, but they are fruits from years of research born out of the bear market.
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I totally understand where you are coming from with risks. What I am saying is this: We embrace risks and find ways through technology, cryptography and decentralisation to mitigate these risks, so we can build public infrastructures for the generations to come to use if and when they need it. If they never need it, even better, it means the world is finally at peace.
And if you make tons of money in the process, awesome and congrats; But that's secondary to what we are putting our lives to doing.
This post has been edited by Enigmatic: Feb 6 2021, 02:40 PM 
Feb 5 2021, 08:08 PM
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