This results in outsized volatility, as it is still a developing market. 1T for a global currency is very small.
We'll see how it behaves at 10T.
By the diamond-est of hands: those who lost their keys.
Stocks are extremely overvalued According to the buffet ratio
And bonds/cash will soon be completely worthless by the time the gov and feds of the world are done with them
Real estate is extremely difficult to buy and sell. Execution is hard.
There’s a desperate need for a store of value, now more than ever (gov of the world are abandoning their obligation of providing a stable fiat)
Do you see any better solution than crypto?
Gold has some funny business with its paper holdings because of the way governments lend it out.
Everyone is wiping their tears with dollar bills right now, very bittersweet.
I have a risk appetite so I keep my IRA in this [1]. Then, for taxed investments, I have a core portfolio of the stock from companies I've worked at, against which I sell covered calls. I sell futures options for passive income (not all the time, I'm sitting this move out, for instance). I carved out a chunk for my financial advisor to manage more conservatively.
NFA, of course.
Pretty much any low volatility/world ETF or streak based ETFs (paying out an increasing dividend). If you trust nobody except yourself then get gold.
>And bonds/cash will soon be completely worthless by the time the gov and feds of the world are done with them
Actually, the worst thing that could happen to the US economy is that the USD goes up in value.
>There’s a desperate need for a store of value, now more than ever (gov of the world are abandoning their obligation of providing a stable fiat)
Why would anyone want to buy a "store of value" that is extremely volatile? You put in $1000 and you aren't unlikely to get $1000 back out, either you make a big loss or big gain. People love shouting that assets going up is inflation but when they go down nobody thinks "hyperdeflation".
>Do you see any better solution than crypto?
Even gold is better at the "store of value" meme than Bitcoin. People buy Bitcoin because it goes up, that's all there is to it.
"Bans" are not going to do it. It was designed toward censorship resistance. That moves it to an underground, at best.
The top holders are not going to dump it - they've committed book value assets; mining companies, exchanges - they aren't going to exit.
For their continued existence to make sense they want more things to be traded in crypto, so they invent stuff like "NFT" and "DeFi". Half of it is crap, but I have been around long enough to remember when Wall Street was bullish on "3D Television". Investors always want angles to make their current holdings more valuable, and as of this moment there are far too many crypto projects to be aware of them all. The re-investment rate is huge. Far different from when a penny pumper puts out the "good news" that they have put their logo on a race car and have t-shirts available.
So as I see it, it's either not a Ponzi or everything is.
Problem is: there's no way to tell the dead from the merely sleeping. The bigger the share of dark addresses, the bigger the impact of some "old god" dark address lighting up again. And the longer a "darkening deflation" goes on, the higher the impact of some old darknes wake-up would be.
Of course these are more hypothetical end game states than immediate threats (I think, I have no idea what fraction could currently be considered dark), but we can't just ignore theoreticals like that.
PPS: obviously I have no idea about governance of the code, but I do acknowledge that very few changes have ever been accepted (as evidenced by the high number of long running forks). I wouldn't expect any of this to happen before the known alive amount of tokens has become a tiny fraction of the dark parts.
You could even conjure up an argument based on block chain "balance of hashrate" security, which I presume is the best type of argument with that audience: "what if, after mining rewards have run out, everybody is just doing value store? No transaction fees for those selfless miners! (will they still be called miners?) One by one they will close their datacenters, difficulty goes down and suddenly the gates are wide open for 51%. Quick! Introduce mandatory keepalive ping transactions or we are doomed!"
Not that I expect this to happen, but I find these musings far more entertaining than the ups and downs of the market.