They Said it Was Purposeless. Volatile. Inflationary...
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They Said it Was Purposeless. Volatile. Inflationary...

By Verincycus | Sinsentido | 25 Feb 2021


...but that didn't stop our universe from spawning every single moon that ever was, every beautiful woman, every iteration of the Elder Scrolls franchise, and yes, every shitcoin in creation. Maybe Doge is universal. (some Doge-crazed Redditor, circa February 2021).

    Fiat currency may be dying and fortunes can be made right now in the fledgling cryptocurrency market. Maybe the success of Bitcoin will never be repeated, but several, if not many, of today's penny-stock cryptos are going to the moon as they become the deflationary replacements for our paper debt bondage.  The crypto-craze has begun, bringing about it's own brand of crypto-craziness. In the last three weeks, I made hundreds of dollars by investing in a digital currency that has something do with a dog. Three weeks ago, I didn't know a damn thing about market cap, satoshis, or ICO's, and I sure as hell didn't know what it meant to have paper hands or even how to hodl. In February, after a tip from my teenage son, I watched my little investment of $200 triple and then some! Now, I'm hooked.

     I've started reading up on the history of blockchain and the future of finance. I love a good rabbit hole and damned if there isn't money in this one. I think I've learned the most important thing there is to know when choosing a crypto to invest in- and I hope the financial experts will forgive me if I get this wrong, but it's the concept of deflationary vs. inflationary currencies.  Doge is pretty much an inflationary beast, which means there is no limit placed on the creation of new coins. That makes Doge a bad dog. Too much supply hurts value.  Doge's growth limits its growth. I'm not kicking the dog out yet, though. I think it's volatility and popularity will make for some interesting moments in the future of finance, but I'm branching out. Deflationary crypos are calling out to me. Nano, Cardano, and Stellar seem like future winners. I could be wrong; but I'm only investing what I can afford to lose - something else I read.

Disclaimer: I know nothing about finance other than this - money is a good thing to have. Don't lose any of yours by mistaking my ramblings for financial advice.

 

 

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Verincycus
Verincycus

I'm a former media specialist and school administrator living in Central Florida.


Sinsentido
Sinsentido

Meanderings about money, malfeasance, and meaninglessness.

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