So I don't know what I'm talking about, it might be completely loony. It probably is, you tell me?
I'm a broke musician. I bought a peasant's pittance of Bitcoin and Ethereum, $100, a bit before it peaked but not early enough to have made any money. Of course right now, I've lost $50 or so.
I remember when it was about $5. Then $10, then $100. When it went to $500 I tried to beg some friends to go in with me on buying one, since I didn't have much money and it wasn't as it is now with Coinbase/Kraken etc.. "Crazy Chip, wants us to "invest" in this non-sense". Yep, I did.
Yes, it's "tanked". I'm not overly concerned, because I didn't splash out a lavish (for me) $100 to make a gazillion $. Here is my kooky, uninformed thinking:
The markets, and/or the economy are going to fold "soon". Maybe not. I hope not, it will suck. But it looks inevitable;
Day traders, Insider Establishment Types, will no doubt have already considered this and emergency options;
There are only 2 things that won't be affected by a market collapse - physical gold/silver and crypto.
I'm not qualified to discuss this seriously with anybody. I know that. However...
I can foresee a panic situation where you have people suddenly wanting to move their value to somewhere out of the loop, quickly. Someone sitting as a desk on Wall St., with a batch file or macro on their phone for said situation. I could see something spooking These People, and suddenly huge chunks of value showing up elsewhere from the market. Not disappearing into nothing - but moving elsewhere, and fast: in less than an hour, maybe? By the time the crash is news, crypto sees half the value of what evaporated (yes, again, that's uninformed and hopeful).
There is only one way to do that, and while it might crash the crypto exchanges temporarily what else is there? So my tiny peasant's sum is there, just in case. Am I wrong? I can't think of another, or better way to use $100 as a "hedge" against such doomsday scenario, but as I said - I'm just a musician.
