I had a long thing written. I browsed away. It's gone. I'm not upset. It was a lot of prognosticating with very little point.
I got into Bitcoin at $170. I got out at $450. If I'd gone to cash I'd be bummin' right now - unless I needed the cash at that moment. I didn't. I went to ETH. I still don't need the cash.
My investment in ETH is nominal and I felt no impact from that money leaving my coffers. I have not yet felt the impact from it returning. As such, my ETH investment remains in an alternate reality where dreams are built. Cashing out now means a more meager dream. If I needed that cash to keep my current reality alive? I'd have a very different attitude and I'd be thankful of the resources I have that others lack. As it is, it's an abstraction.
When I bought into BTC, Very Clever Publications were saying it might be worth $2000 one day. That day was yesterday. The crazies had another opinion. They might still be right, but I don't think so. But when I bought into BTC, it was cheaper than ETH is now.
If I'd piled my retirement funds into ETH back when I threw my handful of change on the table, I'd be fuck-you rich right now. I'd also be a terrible person. I invested what I could risk and the risk paid off. It's still crazy risky. I told my dad a few months ago I owned some crypto. He advised me to get out now while I still could it's all a crazy scam. I think ETH was trading at $17 that day.
I guess it comes down to "what would you do instead?" Real estate? Not in this market, boyo. Stocks? Have you seen the lagging P/Es lately? Bonds? Please. Brick'n'mortar? You've got someone else's money backing Forever Labs and not buying them out right now is a great form of hedging. A new car?
Five years from now, that might be your eighty million dollar Honda. It might also be your fifteen hundred dollar Honda. If you need a car, buy a car. If you don't...
Women generally make more money investing than men do. Why? they fuck with it less. I don't understand this market and I don't have any insight. I can also afford to lose it all. Thus comes complacency.
It's still a long thing. It's still pointless. Sorry.