WTF is now wrong, all cryptos down?

[void]

money for your groceries and other operative expenses for the next months should be held in your local currency (or USD if you live in Argentina or so) - the rest should be in BTC

 

[JohnnyDoe]

money for your groceries and other operative expenses for the next month week should be held in your local currency (or USD if you live in Argentina or so) - the rest should be in BTC

That seems wiser.
A month is an eternity.

 

[brianK]

I think what I’m about to write sounds a bit utopian. But imagine the uproar if crypto, especially Bitcoin, crashes in the coming years. I believe all your credibility would vanish in an instant, and the disaster would likely be even greater than the dot-com bubble bursting in the early 2000s.

 

[JohnnyDoe]

I think what I’m about to write sounds a bit utopian. But imagine the uproar if crypto, especially Bitcoin, crashes in the coming years. I believe all your credibility would vanish in an instant, and the disaster would likely be even greater than the dot-com bubble bursting in the early 2000s.

My credibility is not a concern, I’m not a politician (is there any politician really concerned about credibility though?).
The real concern is the inevitability of fiat currency tending to zero purchase power, as mathematically and historically proven.

Some basic math on fiat decay:

History:

 

[brianK]

I’m a huge fan of BTC, but something that comes out of the blue, falls to the ground, and then rises to the sky again typically disappears into oblivion just as quickly as it came from the heavens. That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

 

[JohnnyDoe]

I’m a huge fan of BTC,

Btc is not a rockstar, it doesn’t need fans.

but something that comes out of the blue,

That was 15 years ago

falls to the ground, and then rises to the sky again

Use a log scale when you chart something.

typically disappears into oblivion just as quickly as it came from the heavens.

We can make plenty of contrary examples.

That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

Math doesn’t reside in the guts.

If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.

 

[rss]

Because I still need FIAT to buy my groceries at the supermarket, and there’s always the risk of buying at 97K today only for it to drop to 80K tomorrow. That makes it pretty hard to buy Christmas presents and food with a 17K loss

I’ve been living off crypto for the last decade, now it’s easier and cheaper than ever before.

 

[elcontestador]

I’m a huge fan of BTC, but something that comes out of the blue, falls to the ground, and then rises to the sky again typically disappears into oblivion just as quickly as it came from the heavens. That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

That's why you buy after the crash, like in 2022. Was much easier psychologically to buy back then, the floor was obvious. When no one wants BTC is when it's best to buy

 

[elcontestador]

If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.

Monero?

 

[JohnnyDoe]

Monero?

I’m not saying it’s better, but it’s good and has its uses.