A year from now you may wish you had started today

[Horsehat]

 

[Buckeye Mike]

If I have a $100 bill in my drawer, a year from now I don’t have to worry about it‘s worth being less than $100.

You don’t understand inflation do you? That $100 is in fact worth less today than it was a year ago. Bigly

 

[Just1more]

You don’t understand inflation do you? That $100 is in fact worth less today than it was a year ago. Bigly

If I take that $100 to the store and buy something that cost $100 they aren’t going to ask me for more money to make the purchase.

 

[41mag]

If I take that $100 to the store and buy something that cost $100 they aren’t going to ask me for more money to make the purchase.

But that same product that costs $100 today will costs $125 a year later . So in effect, yeah they will ask for more money for the same purchase.
The $100 you spend today wont get you as much a year from now.
I think that was the point they were making
LOLZ….

These crypto currencies are going crazy right now but sooner or later they will crash…. I think they will crash hard too. Not like normal stock market crash.… but like 1929 stock market type crash !
I know folks compare it to our dollar that has nothing backing it either, it is amazing our dollar hasnt crashed…..yet .

 

[Just1more]

But that same product that costs $100 today will costs $125 a year later . So in effect, yeah they will ask for more money for the same purchase.
The $100 you spend today wont get you as much a year from now.
I think that was the point they were making
LOLZ….

These crypto currencies are going crazy right now but sooner or later they will crash…. I think they will crash hard too. Not like normal stock market crash.… but like 1929 stock market type crash !
I know folks compare it to our dollar that has nothing backing it either, it is amazing our dollar hasnt crashed…..yet .

I understand how all that works. I have lots of investments. My point was, if I buy a currency, say gold and pay $100 for it, the value could go up or down. Meaning if I cash it in, I could lose money if it’s value dropped below what I paid. That $100 bill won’t do that. If a product goes up and I buy it, my $100 cash is still worth $100.

 

[41mag]

I understand how all that works. I have lots of investments. My point was, if I buy a currency, say gold and pay $100 for it, the value could go up or down. Meaning if I cash it in, I could lose money if it’s value dropped below what I paid. That $100 bill won’t do that. If a product goes up and I buy it, my $100 cash is still worth $100.

I got ya…. The cryptos are so new, it makes a lot of folks scared to touch it.
I know all the ups and downs. If i had $ to invest, i might be encouraged to buy into it some.
But i dont worry about any of that since i am broke LOLZ

 

[CAMSDADDY]

I know my $100 in my pocket will not buy as many groceries or as much gas as it did last year.

I have bought some crypto. Of course honestly Im going blind. I am following a friends dad advice that told me " never bet money you cant afford to lose"

 

[RotoTerrier]

If I take that $100 to the store and buy something that cost $100 they aren’t going to ask me for more money to make the purchase.

Of course not, but that ribeye you can buy is now only 6lbs instead of 10. Or instead of getting 100 rounds of ammo you now only get 50. instead of 5000 primers you now only get 1000 primers. Same $100 , just less for it every day/week/year.

They aren’t going to ask for more money but if you want to continue to get the same quantity of stuff you will have to pony up more money.

 

[Just1more]

Of course not, but that ribeye you can buy is now only 6lbs instead of 10. Or instead of getting 100 rounds of ammo you now only get 50. instead of 5000 primers you now only get 1000 primers. Same $100 , just less for it every day/week/year.

They aren’t going to ask for more money but if you want to continue to get the same quantity of stuff you will have to pony up more money.

Can’t control the price of an item going up in price but I can control the face value of cash better than precious metal or eCurrency. My $100 will always get me $100 but i could lose face value in the other. So in turn not only has the item price gone up but now I have to pony up more to the amount I spent on my currency to buy it.

 

[steviesterno]

Can we agree that crypto is gambling, not investing? It really is. I have some, but it’s money I could waste at the range or on liquor and not mess with the family finances.

stocks and real estate are time tested and generally safer over the longer haul.
Crypto is gambling and precious metals are a store of value (usually)