Is bitcoin conscious investment?

[MrBean]

How conscious is it? Is it relative to a person? Dont you think that crypto gives more freedom spiritually speaking?

[Realms of Wonder]

What do you think? 

[Michael569]

The basic idea of crypto investing is that you re expecting to get a lot for doing nothing. No work, no commitment, no patience, no dedication. The entire system is one disgusting rotten ladder of leech upon leech upon leech quietly sucking from the tit of society, making the poor even poorer and making the rich even richer. 

Being a crypto owner gives you exactly zero control over how much money you actually have. The largest players on the market (global banks, billionaires, Furtune 500 types of market-monopolising businesses, IT & fintech businesses) that own the majority of these currencies are the ones dominating the market and the price. Everyone else is just leeching on the system expecting to freeload quick cash before the whole thing drops. 

Investing ina  crypto is like putting a brick over your gas pedal in the car and then taking a nap hoping that all is going to be well. 

There are better ways to invest such as into long-term portfolios, supporting smaller conscious business, investing into green technologies, green energies and  buying shares from small emerging companies such as B-corp certified business and entities that actually do give a fuck about the environment and about sustainability. That is if you care about conscious investing.

If you just want to leach value from the society without any moral consequences then go for crypto or buy some BP, Shell or Pfizer stocks. 

[LfcCharlie4]

I don't often disagree with @Michael569 but I couldn't disagree more if I tried! 

Bitcoin & Crypto is about as conscious as possible when you research deeply and aren't looking for quick cash. The premise of BTC originally was built on freedom from central banks & P2P cash transfer, of course Crypto has evolved, as has the blockchain, but the premise of DeCentralisation remains. 

I am not gonna argue there's certainly big players & corruption like in all markets, but I'd recommend researching deeply before investing, and finding projects & businesses you believe in inside the crypto space as well of course the blue chips like Bitcoin & Ethereum. 

The space is still very new and is continuously evolving, this bear market is the perfect time to research and begin your investing journey in the crypto space, those that do best, like in any sector of life, tend to specialize and develop expertise in one area, so that's what I recommend. 

 

[Michael569]

@LfcCharlie4 hey, thanks for holding my feet to the fire. Maybe I was being a bit too critical of the topic

While I do not have direct experience with Crypto investing, I know many people working in companies like Bloomberg, Reuter's who do. The company I work for also invests in it and I've spoken to other people who do as well. 

As of today I am yet to see a healthy example of the motivation as to "why do people invest". So far I have not seen a demonstration of behaviour other than "want to get more rich and quickly"

I am total with you that this is not how it started. Back in the days when the original geeks were mining on 50K worth of machines and only a few people actually knew about it, its potential was endless . The original idea of not being dependant on the regulations of ECB and FED made a lot of sense and it was beautiful idea. 

But as of late with the growth of large pyramid schemes, reselling businesses, crypto coaching on YT, endless ads and even big pharma, telecoms and IT tech investing billions of dollars, I don't see it as anything else other than a way to manipulate the market. I am keen to have my opinion changed with more positive examples of investing. 

Hope nothing I said, you took personally. If so, I apologise for that. 

I would like to see more healthy and conscious crypto investment and am sure there are people and organisations who do just that but my personal evidence was so far on the contrary

Thanks a lot for your comment. Good to see you still come around Charley

[undeather]

4 hours ago, Michael569 said:

The basic idea of crypto investing is that you re expecting to get a lot for doing nothing. No work, no commitment, no patience, no dedication. The entire system is one disgusting rotten ladder of leech upon leech upon leech quietly sucking from the tit of society, making the poor even poorer and making the rich even richer. 

Being a crypto owner gives you exactly zero control over how much money you actually have. The largest players on the market (global banks, billionaires, Furtune 500 types of market-monopolising businesses, IT & fintech businesses) that own the majority of these currencies are the ones dominating the market and the price. Everyone else is just leeching on the system expecting to freeload quick cash before the whole thing drops. 

Investing ina  crypto is like putting a brick over your gas pedal in the car and then taking a nap hoping that all is going to be well. 

There are better ways to invest such as into long-term portfolios, supporting smaller conscious business, investing into green technologies, green energies and  buying shares from small emerging companies such as B-corp certified business and entities that actually do give a fuck about the environment and about sustainability. That is if you care about conscious investing.

If you just want to leach value from the society without any moral consequences then go for crypto or buy some BP, Shell or Pfizer stocks. 

I think you threw the baby out with the bathwater.

There are definitely smart & reliable ways to invest into crypto-currencies. I know this is the case because my best friend is a professional crypto trader who has been consistently making money off the crypto market for years now. He knows the technology from the inside to the outside, spent hundreds of hours theorycrafting his own investment plans and even programmed his own crypto-bot, which passively makes him around 20k a month. He has done the work and now he reaps the rewards. Most people lose money because they want the quick cash grab and dont really know what they are doing.

I guess you could make the argument that investing in a digital currency provides no net positive for our society at large, but even there I would partially disagree. It depends a lot in the projects you are supporting. If you look at it from a spiral dynamics perspective, most crypto-currencies are based at a deep orange level of conciousness and are therefore highly problematique for many well known reasons (for example proof of work conseus mechanism and it's enviromental impact). Yet if you look a bit further, there are also many projects which try to leverage the power of the crypto market to do good in the world. One example would be EWT (Energy Web Token), which is highly involved in the accelerated decarbonization of the global economy (https://www.energyweb.org/). 

It's not some black or white question and it depends highly on the given context. 

Edited August 5, 2022 by undeather

[zurew]

22 minutes ago, undeather said:

Yet if you look a bit further, there are also many projects which try to leverage the power of the crypto market to do good in the world. One example would be EWT (Energy Web Token), which is highly involved in the accelerated decarbonization of the global economy

It's not some black or white question and it depends highly on the given context. 

Why is the token part needed there? Couldn't you support such companies in other ways than buying tokens or crypto?

Edited August 5, 2022 by zurew

[undeather]

37 minutes ago, zurew said:

Why is the token part needed there? Couldn't you support such companies in other ways than buying tokens or crypto?

You definitely can! And you can do it through a crypto based asset. 
A multilayer, decentralized operating system (like EWT) will bring unique advantages you wont get anywhere else.
The crypto-market exists and it's here to stay - so why not use it's influence to leverage positive change in the world? 

I do hold a pretty decent share of their tokens since I truly believe in what they stand for. EWT is already working with different energy market operators (for example in australia https://medium.com/energy-web-insights/australian-energy-market-operator-partners-with-energy-web-on-project-symphony-a-future-proofed-c3e48390d338) - so things are happening. And if they are doing great, the environment will benefit and so will my bank account! Win-Win situation right there. 

Edited August 5, 2022 by undeather

[zurew]

1 hour ago, undeather said:

A multilayer, decentralized operating system (like EWT) will bring unique advantages you wont get anywhere else.
The crypto-market exists and it's here to stay - so why not use it's influence to leverage positive change in the world? 

I've read a little bit about it and the blockchain tech definitely makes it much more safer for users to use this kind of service and for investors to invest in this company. So one big benefit that is exclusive to companies like this is the high level of safety, which couldn't really be achieved without a blockchain. One other thing that is closely related to security, is this decentralized structure and business model, which makes this whole thing much less prone to corruption.

 

Edited August 5, 2022 by zurew

[Danioover9000]

@Michael569

3 hours ago, Michael569 said:

@LfcCharlie4 hey, thanks for holding my feet to the fire. Maybe I was being a bit too critical of the topic

While I do not have direct experience with Crypto investing, I know many people working in companies like Bloomberg, Reuter's who do. The company I work for also invests in it and I've spoken to other people who do as well. 

As of today I am yet to see a healthy example of the motivation as to "why do people invest". So far I have not seen a demonstration of behaviour other than "want to get more rich and quickly"

I am total with you that this is not how it started. Back in the days when the original geeks were mining on 50K worth of machines and only a few people actually knew about it, its potential was endless . The original idea of not being dependant on the regulations of ECB and FED made a lot of sense and it was beautiful idea. 

But as of late with the growth of large pyramid schemes, reselling businesses, crypto coaching on YT, endless ads and even big pharma, telecoms and IT tech investing billions of dollars, I don't see it as anything else other than a way to manipulate the market. I am keen to have my opinion changed with more positive examples of investing. 

Hope nothing I said, you took personally. If so, I apologise for that. 

I would like to see more healthy and conscious crypto investment and am sure there are people and organisations who do just that but my personal evidence was so far on the contrary

Thanks a lot for your comment. Good to see you still come around Charley

   Nah, you didn't say anything too harsh about Crypto, in fact you were too nice about it. It should be harshly discussed, for being a more recent step forward into some kind of new economic frame work, because if it will become the next better economic framework than capitalism, it'll effect many lives going forward, and it seems to more negatively effect than positively effect as it's hard to see where the accountability starts and ends with it.

   It may have been a more conscious investment type when it was just at beta phasing, but that's before the middle upper to upper class business owners decided to get more involved and manipulate it. If there's anything conscious to it, it's that it made me more conscious of how schemes evolve over time, even to market itself as a better alternative to current economic modals is just blatant scheming to me.

[Yarco]

Depends on the person and why they're buying it.

Think about stocks. What % of people buy a stock because they think the company will make more profit next year and the stock price will go up? VS what % of people buy a stock because they think it's doing good in the world?

I would say 95% or more people buy stocks for low consciousness reasons, 5% or less for social reasons even as a factor they consider.

Bitcoin is a bit better. I'd estimate maybe 20% or more believe in Bitcoin as a principle and want to see finance decentralized and censorship-resistant. Many people are hodlers who will never sell their Bitcoin as a principle whether it goes to $100 or $100,000.

But the vast majority are still only buying to make a quick buck. Even a lot of those saying they're in it for the technology are lying or in denial.

To tell if someone is in crypto for the "right reasons" or not: ask them if they'd still be buying or holding if Bitcoin had only ever been a stablecoin and always pegged at $1 = 1 BTC or 1 oz of gold.

Within the crypto space, consciousness can also vary a lot between projects. I think most Monero holders are ideological and sincerely are more interested in privacy than price appreciation. Charles Hoskinson and Cardano have a very stage yellow feel to me, helping create financial inclusion across Africa, the fact everything goes through a peer review process, and favors doing things right but slow, instead of the usual silicon valley "move fast and break things" motto. At the low end you've got stuff like Dogecoin plus most NFTs that are almost purely for profit and memes.

 

Edited August 5, 2022 by Yarco

[devjo]

for me it's invetment. I see a lot of potential for cryptos that provide smart contract functionality (ethereum). I am interested in creating my own cryptocurrency project right now. Recently I found crypto ads network where I can create my own ad campaign with different ad formats https://bitmedia.io/ad-formats and at affordable price. Useful platform for crypto business.

Edited September 1, 2022 by devjo