instead of understanding a balance sheet and sector youāre understanding a whitepaper, source code, git hub project integration and sector.
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I think this article should be pinned! Although, the wild, slightly delusional claims by some of those interviewed should come with a health warning.
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It is a worry that many people are treating investing like gambling but are in denial as they justify it as planning for the future. In reality it is no different to the casino the way many are acting. 
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Go to HRMC website and read about crypto and taxesā¦ It is just too complicated. Plus the volatility- It is joyful when letās say bitcoin goes up, but I donāt have such strong nerves to watch it declining 6-8 percent in one day what translates to thousands per day if someone owns at least 1 bitcoin.
Love this analogy, saying that I donāt miss the ICO days I got burnt by Estonian
Mothership.cx or $MSP -
which is supposedly still going? I loved there story with becoming a decentralized crypto exchange but it just never happened 
This is from 2018 be careful out there
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Great article and probably describes perfectly every person on this forum who has every used a rocket emoji. Not that they would ever admit it.
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Worth a watch!
The first question what everyone should ask when playing with cryptocurrencies is this:
What drives the price?
Why the price of cryptocurrencies SHOULD (?) MIGHT (?) go up?
I come up only with one reason- HYPE. So at this point this one is not for me. Novelty, hype, trend and similar qualities might wear out sooner or later and there is no balance sheet, profit or general reasons to fallback on. I do realize why would some influencers or even companies might want to adopt such āassetsā (?). Influencers getting paid one or other way does not matter what they talk about - new models of some smartphone, shoes, makeup, etc. Companies might make money on facilitating the trades of such things- what difference it makes what they are facilitating - sea shells, tulips, cars, tv sets or whatever.
āWhy the price of cryptocurrencies SHOULD (?) MIGHT (?) go up?ā - for literally the same reason as any other commodity. supply and demand. supply and demand for a given currency will depend on the design. Some even burn a small amount when a transaction is made and could even be deflationary, driving demand.
āthere is no balance sheet, profit or general reasons to fallback on.ā - itās exactly the same as trading forex or commodities.
Donāt get me wrong, Iām no avid supporter of crypto, it accounts for <1% of my portfolio. But a lot of the reasons I hear people give against it are just wrong.
We moving into a more digitalise age. Cryptocurrencies are only the tip of the iceberg. Defi, community coins, NFT, central bank digital currency and more to come.
It is huge and it is happening under our eyes, do not focus on the single asset / currency instead focus on the macro trend. This technology is getting adopted at x2 the speed of internet. Bitcoin may fail in the future but blockchain, tokenisation, defi, NFT and community coins are here to stay.
People in 1996 were sceptic about the internet and before that people were sceptic about adopting car instead of horses. Haters are going to hate, status quo struggling to adapt and to keep up with innovation but it is inevitable.
Someone already suggested this video before but I am posting it again: Raoul Pal's Introduction to the Exponential Age - YouTube
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Remember Facebook back in 2004 didnāt really become commercially monetised for the average marketer until 2014, when payments really took off.
Virtual Reality back in the 1990ās was tipped to be the biggest thing everā¦ has it caught on yet?
I have not a single friend or know of anybody in my circle that has bought a coffee with crypto or even spent 1penny in crypto in a commercial setting.
It is really really hard to time a speculative area to the point where itās accepted commercially and is viable.
I can not list all of the speculative āthingsā that have come about or not come about.
With the digital payments industry, blockchain, the 5g / 6g, quantum computingā¦ you gotta follow the money & the momentum and even by doing that itās still tough.
I heard large companies in 2014/2015 banning Facebook and not acknowledging it as anything more than a fazeā¦ even big money can be wrong in blindingly obvious situations.
Crypto is by far one of the most toughest timing plays out thereā¦ like, how do you even play it properly? How do you know that now the time is ripe, how do you value a crypto or blockchain companyā¦ you gotta be so damn knowledgeable and on the inside to truly see how and where itās all going. You gotta be a major major emerging tech guru, and still, you may be out by two decadesā¦ or maybe 5 decades.
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If you use the Coinbase debit card you are using crypto for your purchase whether the retailer knows this or not.
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I believe with crypto.com card too.
I think the point @101 is making is that youāre not transacting in Bitcoin per se. Youāre transacting in hard currency, but paying using BTC which is subject to conversion. To use PJās example, a coffee isnāt priced in Bitcoinā¦even https://www.eatbitcoinpizza.com/ isnāt accepting Bitcoin payments for their pizzas. This is probably somewhat moot, as Bitcoin isnāt really a currency.
When companies first started to create websites, I laughed and said who the hell would buy stuff online, when they can see the things they want to buy themselves in person, and there are plenty of catalogue companies available.
I admit that I got that one 100% wrong. I was also a betamax user. I also bought some bitcoin at Ā£400, and sold it for not much more, because the wallets were just too complicated and couldnāt see any use for the coin, (can you see a pattern emerging)
Because of that, Iām now not sceptical about anything. Instead of bucking trends as I tended to do. I now follow the hype, make a bit of profit, and then jump off. It seems to be working for me.
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why is timing the market ok for crypto and not for stocks?
Letās just say Amazon is an easier purchase on a timing play than the entire crypto emerging industry.
Entering crypto is super tough because the investor doesnāt quite know what they are buying. Iāll leave it there, itās a tough emerging industry to play.