Cryptocurrencies

[Tsumitate Wrestler]

It's easier to ignore in Japan, due to the extremely unfavorable tax policy. The FOMO can be hard, just as with NVDA, or even gold recently.

It helps that my wife is complete dismissive of crypto, and I don't want to be "that guy" when it comes to having that discussion.

[sutebayashi]

Double checking now I see cocoa beans have been up 600% this year, so BTC is still left in the dust!

[Cracaphat]

Then a congrats to you for getting some I assume.

[sutebayashi]

Oh I sold mine already. If I were ever to buy crypto assets again I can only imagine doing so similarly in a speculative fashion.

[adamu]

There was a talk at Kyushu Nerd Night a few months ago about Blockchain.
I wouldn't trust that guy though, he's prone to spouting nonsense.

https://www.youtube.com/watch?v=T1EMVrCqT0o

[RetireJapan]

Still don't understand why a particular cryptocurrency should have value, but the amount of institutional buy in to Bitcoin and maybe Etherium makes me feel they are not going to go away anytime soon.

The tax situation in Japan is pretty bad, but could be changed any time.

My take is that I am doing fine using investments I understand better, no need to jump into crypto due to FOMO just as it is accelerating to a new peak (and crash?).

[Cracaphat]

We need to be into the tens of millions (of yen) to beat the tulips.

I was laughing in 2017. Now it's ¥13.7M

That'd be a bummer. But that amount is still nothing to sneeze at.

[Cracaphat]

It's easier to ignore in Japan, due to the extremely unfavorable tax policy. The FOMO can be hard, just as with NVDA, or even gold recently.

It helps that my wife is complete dismissive of crypto, and I don't want to be "that guy" when it comes to having that discussion.

Yeah, the rate is very unfavorable but in time, it'll come down. My ol' lady doesn't care for coins much. More likely to give me shiz,as in how they doing and all that. But one day... Lol.

[Cracaphat]

Still don't understand why a particular cryptocurrency should have value, but the amount of institutional buy in to Bitcoin and maybe Etherium makes me feel they are not going to go away anytime soon.

The tax situation in Japan is pretty bad, but could be changed any time.

My take is that I am doing fine using investments I understand better, no need to jump into crypto due to FOMO just as it is accelerating to a new peak (and crash?).

If someone asked me about explaining crypto, I'd refer them to Chat GPT or some other AI.But the way cash usage is dwindling and blockchain and the soon to happen ISO 20022 change means something's happening, whether I understand it or not.
And for sure, in doing anything with money, being comfortable with what you know is best.

[Deep Blue]

Cash usage is going down, same as every other country - and this trend started way before Bitcoin was invented. It’s being replaced by credit cards, debit cards and QR code based systems. None of which use blockchain or craptocurrency!