It isn’t exactly the best “trusted source” to say I saw it on Info Wars that fiat money is on the way out, the stock market is going to crash, and China is going to put all their money in cryptocurrencies, like Bitcoin, or their own stablecoin Yuan which is fiat currency, but digital, and then the world is going to follow.
Particularly when there was just a crash of Bitcoin of one fifth of it’s value in one day, caused by a flood in an actual mine, which caused the power to go off for the Bitcoin mining operations in China, because they didn’t have coal to make power.
That’s the sort of thing that can go wrong, but if I’m right, that would also make this the ideal time to buy Bitcoin, if you can get around the slow transaction speed, and higher fees for the time that the mining operations are affected by the actual coal mines.
Apparently two thirds of all the Bitcoin mining in the world is done in China, and that takes a fair bit of power, somebody said that the amount of power used just for Bitcoin transactions is as much as a small country and that’s going to grow as PayPal and banks are starting to allow Bitcoin transactions.
Other people have suggested that if you want a better chance of making more money at higher risk, you might be better off trying your luck on one of the other coins like Litecoin, Etherium, Monero, Vechain, Algorand, Solana etc.
Dogecoin just came out of nowhere to be one of the largest coins, just because Elon Musk promoted it. There’s no specific reason why any of these altcoins go up or down, but they surely are moving a lot of money around.
I wish I hadn’t sold my Dogecoin to take the profit early, but there’s nothing specifically good about the coin itself, as far as I can tell, it’s just popular.
I’ve been trying to get my hands on some Piratechain because Dollar Vigilante promoted that one, and he thinks Monero is also one of the best privacy coins, I like the sound of privacy.
Inflation will kill fiat currency and increase the value of crypto the longer you hold it, unless everyone pulls their money out of it, which has happened before, but is it going to crash this time, or keep rising?
I can’t really say I even like the whole idea, and I have most of my money in my house, and then physical silver, physical property like storable food, (check out the prepping page to support this site).
However, if you didn’t have a little bit of money in cryptocurrencies right now, you could possibly be kicking yourself later, like everyone did when it went through the roof, in the past.
I’m no expert, I just got into it, but I use the Exodus wallet, which allows you to exchange coins and also is compatible with an offline Trezor wallet.
Any reasonable financial advisor would say, don’t put all your eggs in one basket, and don’t gamble if you’re not prepared to lose, but I’m feeling lucky.