Bar talk

Interesting tonight after Hockey the guys all get beers and bullshit. Tonight the topic turned to crypto without me saying a word to push it that direction. Was interesting as I sat back listening to people who a few years ago wouldn't have even considered investing in crypto talking about how they are starting to consider it part of their "balanced portfolio".

As they talked someone that knows I've been investing in crypto since 2017 asked why I wasn't saying anything. Honestly at that moment I was kind of blown away that such a major shift in perception has occurred that this was even a topic. I told my friend (who happened to listen to me and invest in BTC at $4500 in 2017 and is still sitting on them) that I was enjoying listening to people chat about the market and hearing their thoughts.

He then told everyone that I was the "expert" and had made him enough to buy a vacation home if he was to sell.

Now all eyes are on me. They want to know what I've put my money into and why. They want tips of what coins to invest in now.

I didn't want to give my thoughts as currently I'll be honest I'm not sure what direction some of the coins I'm heavy in will go over the next few months. Instead I tried to get them to understand that what take a week in typical stocks can happen in hours in crypto. That if they want to invest in crypto they better be ready for some wild rides, up and down. That long term I feel it's a great place to park some money especially these days with all major global economies borrowing money left and right to "battle the pandemic". I'm a firm believer that massive inflation is coming to major economies around the world. Something that hasn't been seen in decades in most "first world" economies, but those that have seen it in the past realize how it impacts those with cash reserves vs those with assets that aren't tied to the typical fiat currencies.

When inflation hits at 15% or 25% in a year those with cash are hurt the most, those with assets like stocks can be crushed or do great depending on the type of stock, those with assets like silver/gold historically do well, and now IMO those with Crypto will do great. As people look for a place to put their money that isn't tied to fiat yet still allows them to do day to day transactions crypto very well may become the answer.

Will we see the double digit inflation that my parents talk about? Can't say for sure, but feel like it almost has to happen with the liberal (socialist) spending agenda that is going to happen here in the US. Time will tell, but in the mean time I'll be stacking more crypto just in case.

Who knows what any of them will do as it was a bunch of drunk talk, but hope a few of them put some additional money into cypto. I tend to agree that it is at a point that it's part of a balanced portfolio...lol.

Side note, treating this as a freewrite and not checking any part of this post....hope my thoughts were coherent enough...lol. Now back to my Guinness!