Adoption Is Closer Than You Might Think
Forget reading the crap with the social influencers on twitter and pay attention to the various crypto projects with proper use cases. Certain projects are making moves that will generate huge wealth and you need to be reading up on what is important. Forget the freak show with SBF as research is far more important this year than ever before.
One has to always keep in mind what we do today is only going to benefit the future. The time and effort we spend on building our portfolios now will pay off handsomely when the time is right.
I know some people in Crypto spend what they have to make ends meet each month but I just feel those that are doing that are doing a disservice to themselves. Being early in a disruptive technology worth trillions and many are wasting it for a few cents on the dollar. How are those people ever going to get wealthy as the answer is they won't and they cannot see this.
When I was living in the UK back in the 90's I was working two jobs in order to get ahead as I have never liked debt. Paying a mortgage and having a young family is stressful, but would do it again if required. This timeline is getting shorter and the sacrifices that have to be made now will only benefit everyone in the long term.
If I was being forced to tap into my crypto portfolio monthly I would most definitely find another plan that was going to generate the funds required. I see crypto as the golden ticket to financial freedom and stability within the next 5 years. I am starting to believe we are not that far away and do think we will see values increasing rapidly within the next 2 - 3 years with or without a bull market as it wont be required.
Timelines are always hard to forecast as normally this is down to influences you have no control over. Researching various crypto projects lately there is a pattern emerging that has definitely changed my thinking on timelines. 2030 which is only 7 years away is where my thoughts were initially, but I am more inclined to believe 2026-2027 now. Too much is going on and it is visible the changes that are taking place. One has to be blind or invested in the wrong projects to not see the transformation happening.
What has been noticeable is some crypto projects (small percentage) have developed genuine use cases that are slowly being adopted. Slowly is the key word as the momentum may be gradual currently, but these projects will pick up pace very quickly.
The values between a genuine use case project and one that hasn't will be crystal clear very soon as it will not just be investors buying the coins/tokens. Corporate/businesses requiring them for transactions or stake to use various blockchains and protocols. Similarly to what we have on Hive as Resource Credits are required other chains require their tokens for payments etc.
Passive income is literally around the corner if you think how long most of us have already been involved. 2 or 3 years is nothing when looking at the bigger picture and in many ways wish we had just a bit more time to accumulate.
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The FTS was the third largest exchange in the world when it went go, so people lost his trust on crypto. Some of the exchanges and therefore create exchanges so that they can run away with people's money. At first we all believed that long time investments save in crypto. But since exchanges started defaulting, people's trust has also been lost. I would agree with you that crypto has to go higher one day because the world is moving towards digital currency. I have also thought that I will not remove my investments before 2026. Thanks for sharing the great and informative Knowledge about crypto.
I agree with what you write.
I am hoarding and would never sell my assets.
I keep them there and I'm sure they will bear fruit soon, you just need to be patient.
Selling objects, as you say, means taking a few highlights at the expense of perhaps future financial freedom... only for not having been patient for a few years.
Yeah, I am the same way. If I were faced with liquidating all of my crypto and finding a second job, I would likely take the second job route. Sure, I did liquidate some of my crypto that one time, but last year I moved zero to fiat. It will likely be the same this year. Actually now that all of my debt is gone, the only thing that could make me move crypto to fiat is if I earned enough to pay off my mortgage. Short of that, I see no point in moving it out!
Ya I hear you, that would be a nice expense to get rid of, especially given how much interest you get nailed for in the early days until you get your LTV below 50%.
Yeah, for sure. I am pretty lucky I have a low rate at 3.75%, but it still adds up when the principal is high!
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Not a bad rate, I was lucky enough with a green BER based rate back in 2021, I think it was just over 2%, which is 90% of the mortgage. We split the other 10% and it's variable allowing a no penalty principle payment whenever we want to pay off €500 here or €1000... Very handy thing to do and something I'd recommend to people, you get the advantages of a fixed rate, yet can still pay off some principle
I pay more than my payment monthly anyway.
Good man, you've the same outlook as me so 👌
Ya man, I am the same as yourself. I have yet to pull any cash from share and crypto investments. I am lucky enough to only ever put in spare money and my job pays for mortgage, expenses, kids, holidays etc. I guess we are fortunate, as many don't have that luxury and need to dip into their investments to survive. I'd love to see forward ten years to see where Hive and various projects are then, hopefully all of the hours invested will have a tangible payoff, only time will tell.