The 5c Club, page-24

I've heard all that before - straight out of the pro-btc playbook.
- Wall St / Banks / Insto's are chasing $ (yes, Fiat). They just want a slice of the action. No tectonic shift here
- No one knows what to call it. Speculative asset perhaps? Highly volatile and still has no backing or actual value.
- Yes, wealthy people buy all sorts of things, art work, old/rare banknotes, coins, gold bars etc. Sure. What I'm deeply concerned about is the masses going 'all in' on crypto because it is so easy to do and being encouraged by HODL's and dip buying mentality. Many of these ppl convert all of their fiat into crypto, thinking they are part of some new thing that will make them rich. When Cathie Wood and co are saying $1M by 2030 - hurry train leaving soon... it says it all
- Millenials inheriting money will be busy figuring out how to afford to live and buy real-estate. Don't see them gambling like crazy on crypto - especially as they will be a bit older/wiser.
- I think Blockchain is overrated. Of course, everyone is talking bout it as if it's something that will revolutionise the world - like the great industrial revolution in the 1800's. I call BS on it all. Fadsters are milking this for all its worth.
- The only people getting rich are the exchanges and the lucky few who got in really really early...
- BTC and crypto are all susceptible to hacks and obsolescence.
- We haven't t gotten into POW mining yet, but that shows how stupid humans are. Rising temperatures, sea levels and melting ice caps... crypto giving all of that tail winds.
- Incoming regulation of all shapes and sizes is a huge threat to crypto... and is only just beginning.