I don't own cryptos or shares of companies related to cryptos.
Hence, I'm not talking my own book here.
But I'm impressed with the price action of cryptos recently during the banking troubles in US and Switzerland.
Aren't you?
I've noticed an interesting phenomenon amongst the crypto believers. There are 2 major camps - the Monotheists and the Polytheists.
The Monotheists believe there is only ONE true crypto. Everything else is just bullshit.
The Polytheists believe in anything and everything. Just as long the story is compelling!
As a crypto "atheist", I'll just stand aside and watch from the opposite bank with interest.
I mean even if you into crypto, it's something you ultimately have to resolve amongst the believers.
Crypto believers out there, are you a Monotheist or Polytheist?
It's like real life.
Even if you believed in religion, your fate isn't better than the atheists and agnostics out there if you died and discover,
"Shit! Wrong religion!"
Hi SMOL,
ReplyDeleteIf I have a religion, I would practise it to better my life when still alive, not practise to pray for better afterlife when died.
Opps, off-topic haha.
Crypto bank-run, real life bank-run... here's an interesting read https://www.coindesk.com/consensus-magazine/2023/03/13/the-banking-crisis-is-not-cryptos-fault/
Rainbow,
DeleteThat would make the two of us who believe living is more meaningful if we don't treat this life as a full dress rehearsal ;)
Can you imagine kicking the can down the road all the way till the afterlife!?
From the price action of cryptos, the crypto acolytes probably don't believe the CFTC's complaint on Binance got any real bite... Just "wayang" only...
And are voting with their wallets!
Imagine if Binance would to be the next to be taken down?
I'm a Polytheist! any coin that makes me money is a gud coin!
ReplyDeleteFYY,
DeleteAh! A crypto speculator!
I would like to think those who treat cryptos as a get rich scheme would do better than those who swallowed the "spin" hook, line, and sinker ;)
Crypto is like communism.
Both "sell" the proletariat utopian dream.
We know how communism ended up...
Nothing changes even if we do away with fiat currencies.
Just change President or Emperor to Chairman ;)
A rose by any other name is still a rose...
"watch from the opposite bank with interest"
ReplyDeleteWas the pun intended?
ERSG,
DeleteLOL! Totally not intended!
Then again, as the community clown, I guess some of it is probably imbedded into my muscle memory...
Thanks for the heads-up!
I'll slip this pun into a future post ;)
I am worse! Not into crypto, gold or overseas market.
ReplyDeleteCW,
DeleteYou are not worse off.
You are ultra specialist like the koala bear or panda - you only "eat" Singapore equities ;)
If our day job pays $10K per month, we are better off than someone who earns $4K per month with 5 extra streams of income from side gigs that pay $2K per month extra...
Are multiple streams of income "better" than 1 single source of income???
It's less about whether focus or diversification is better; it's more about finding the right shoes to fit our own feet ;)