Tell Me Again How Cryptocurrency Is a Scam.

the-bitcoin-dood in #shib • 11 days ago

I am so tired of hearing people tell me how cryptocurrency is a scam. It's generally on social media, but it is still annoying.

Here's the true power of cryptocurrency. Now keep in mind, I follow the crypto markets. So I have a good idea of what's hot and what's not. Maybe not so easy for the average person out there. (People outside our space that cry foul and scream scam every chance they get.)

I have a credit card through an exchange that gives me crypto rewards each time I use it. When I started using the card, I decided to fluctuate between SHIB rewards and PEPE rewards. So each time I buy some groceries I get a little SHIB or Pepe back. Over the course of time this amounted to about $120 in cryptocurrency rewards.

Not a big deal, right? Well that $120 in crypto rewards is now worth $862. I have a around an $1100 credit card bill leaving me with just $238 to cover myself.

My PEPE and SHIB rewards for the year. Used to pay off $1100 credit card bill.

So Pepe and Shib may not have been the best choices. At the time however, they were getting the most gains.

I get the memecoin craze is a little annoying. But we're still comparing deflationary money to inflationary money.

If people would take a little time to learn the technology and how to trade, maybe they could see the benefits.

IDK if someday I'll walk into the store and pay for groceries with PEPE or SHIB. What I do know is cryptocurrency is still in it's infancy, and if people have fun with their money and give it cute names with cute little mascots, I don't see what the problem is. Who knows, someday I may use SHIB tokens to buy a new car. I mean is it much different than putting a picture of your favorited sports team or cartoon character on your credit card. It's just about having a little fun.

And yes this could have went the other way. My $121 worth of rewards could have been worth 0 had the market moved the other way. Again, you have to learn the markets and the cycles the markets take. Still, I took my rewards through a bull run and this is the result.

Truthfully, I was hoping the rewards would cover the entire bill eventually...... Sheesh.... Scammed again. 🤣

#pepe #cryptocurrency #finance #lolz #crypto

11 days ago in #shib by the-bitcoin-dood

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epodcaster 11 days ago

"But can you put petrol in your car?"

Is a question I've been asked and my answer is a resounding, "Yes!" In my family alone we've paid phone bills, bought pizza, gotten gift cards for gas, etc. The fact is most people want the get rich quick and don't want to take the time to shift what they are already doing (creating content, paying bills, etc) on traditional social media platforms or using traditional credit cards and do it differently and creatively with the crypto options that are readily available.

Do what they've already done and they'll get the same results. Do something different and in our case we've experienced different and rewarding results.

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2 votes

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the-bitcoin-dood 11 days ago

That's one thing that needs to change though. I agree, with a little creativity you can usually figure out a way to pay for just about anything with crypto.

I think the fact that we have to convert to gift cards, or some other way to use it, adds to the belief that it's a scam or the stores and service stations would just accept crypto themselves.

We really need a few retailers online and brick and mortar to start accepting crypto. Once people see they can buy groceries or gas, without jumping thru hoops, the floodgates will open. It's just a better way for payments, interest, and banking in general. We just need a few brave retailers like Amazon, or McDonalds, or Pizza Hut to open the door in my opinion.

Still, while you and I learn about this new technology, we are pleasantly surprised with the results from time to time. This really is an experiment in finance and frankly, I believe we're making history here on Hive and in the cryptocurrency community in general.

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1 vote

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epodcaster 11 days ago

I believe we're making history here on Hive and in the cryptocurrency community in general.

Yep, I agree with that completely. The challenge with being an early adopter is that the world thinks you're speaking Klingon until they finally catch up. By then we've usually moved on to something else.

But in the case of Hive and crypto in general, it's easy to stay active because it's something we were doing before (blogging, podcasting, video, social media or paying bills etc) we've just adjust how we do it. And it's darn right rewarding.

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1 vote

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howweroll 11 days ago

Yeah I can’t believe how many ppl are stuck in this mindset, and not even willing to earn Hive for making some content. Like even if it’s a scam, what are you risking when you basically get free Hive, and can trade it for any dumb meme coin out there for basically nothing. 🤷🏼‍♂️🤦‍♂️📈

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1 vote

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the-bitcoin-dood 11 days ago

IKR, I don't get that mindset either. I've tried to bring so many people over to Hive and a few other crypto incentive apps like Brave browser. You're literally getting paid to do exactly what you're already doing, (blogging/surfing the web). The only thing it costs you is a little time.

As far as Hive is concerned, why not post here too along with your traditional social media accounts. THEY HAVE NOTHING TO LOSE.

As they say, "You can bring the horse to water, but you can't make it drink."

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1 vote

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howweroll 11 days ago

Well not for nothing. There’s a reason why it’s called spending time, and paying attention. It’s just that we’re usually not used to seeing a ROI for our time and attention! 😉📈

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1 vote

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the-bitcoin-dood 11 days ago

That's an awesome analogy. I need to remember that.

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2 votes

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steevc 11 days ago

Good to hear your did well from that. We have to take what wins we can get as this crypto stuff can be pretty wild. Part of the reason for the bad reputation is people making rash purchases and losing money. We know it works as plenty of people live off it. At least our $HIVE is doing a bit better now. I'm earning it every day.

!BEER

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3 votes

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the-bitcoin-dood 11 days ago

Part of the reason for the bad reputation is people making rash purchases and losing money.

I think this is the biggest problem the industry faces. Newbs enter and FOMO into some weird shitcoin they heard their friend got a 1000x on then the bottom falls out and they scream scam.

At least our $HIVE is doing a bit better now.

Happy about this as well. Trading cycles... All of it. It goes up, it goes down, then it often goes up again. If it has usecase, and community support,it will usually recover and hit another ATH. Hive meets that criteria.

If there were 3 things I'd look for in any crypto it's - community support, usecase, and development. 9 out of 10 times if your coin has that it will almost always recover. At least by current trends.

!BEER

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2 votes

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beerlover 11 days ago

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beerlover 11 days ago

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