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Thank you cares act!!!! 401k is mine
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<blockquote data-quote="BadIdeaGuy" data-source="post: 4599872" data-attributes="member: 73381"><p>I think this right here sums things up pretty well.</p><p></p><p></p><p></p><p>I'm a crypto investor, and have been since 2016. And this is some of the most asinine advice I've ever heard.</p><p>Stablecoins?</p><p>Lol.</p><p></p><p>First off, platform risk. Let's say you invest in USDC. Any potential future ERC20 security flaws will take your holdings down to zero.</p><p></p><p>Then you have ports of entry to factor in. You can spend stablecoins in even far fewer places than the "big 3" of crypto. So you have to trust an exchange when you want to exit your position for other assets. And if you don't trust banks, but do trust anonymous KYC absent exchanges based in overseas countries, you're a maroon.</p><p></p><p>Finally you have to consider the method of keeping the stablecoin pegged. I know that some stablecoins have had a lot of issues with this in the past. I used to trade on Bitshares quite a bit. They had a devil of a time keeping their stables pegged to a dollar. So if something actually volatile happens in the world, that peg may end up meaning absolutely zero.</p><p></p><p>I'm not saying I put a lot of trust in the banks.</p><p>But if you put all your trust in crypto, you'll end up just as burned, or worse.</p></blockquote><p></p>
[QUOTE="BadIdeaGuy, post: 4599872, member: 73381"] I think this right here sums things up pretty well. I'm a crypto investor, and have been since 2016. And this is some of the most asinine advice I've ever heard. Stablecoins? Lol. First off, platform risk. Let's say you invest in USDC. Any potential future ERC20 security flaws will take your holdings down to zero. Then you have ports of entry to factor in. You can spend stablecoins in even far fewer places than the "big 3" of crypto. So you have to trust an exchange when you want to exit your position for other assets. And if you don't trust banks, but do trust anonymous KYC absent exchanges based in overseas countries, you're a maroon. Finally you have to consider the method of keeping the stablecoin pegged. I know that some stablecoins have had a lot of issues with this in the past. I used to trade on Bitshares quite a bit. They had a devil of a time keeping their stables pegged to a dollar. So if something actually volatile happens in the world, that peg may end up meaning absolutely zero. I'm not saying I put a lot of trust in the banks. But if you put all your trust in crypto, you'll end up just as burned, or worse. [/QUOTE]
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Thank you cares act!!!! 401k is mine
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