Sorry for the long post. Move along if not interested.
I was involved in crypto from 2020-2022ish. Did the research, drank the metaphorical cool-aid. Cryptocurrency resonated with me due to a love of finance, technology and decentralization independence. Not to mention the slew of problems materializing and present in traditional fiat finance.
I made some money, and thought I would be a forever holder. But then got caught up in the Celsius and BlockFi bankruptcies. Eventually leading to the sale of all of my cryptocurrency due to the belief that the layman would never be savvy enough to store their own keys, and centralized layer 2 was just reinventing the traditional finance system, but with less consumer protections.
Fast forward to today, a hobby miner caught my interest and reignited my passion for crypto.
So here I am, trying to convince myself to get back into cryptocurrency. However, upon further research, the foundation of crypto seems to have changed.
Primarily my concerns are the following:
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The upcoming security budget problem as the Bitcoin halving continues to make mining less profitable.
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MSTR and the flywheel leverage default risk.
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Tether minting unverified stablecoins that prop up the crypto market. (this one existed when I was in crypto prior also)
How are all of you navigating these risks? Like I said, I WANT to be involved, because i recognize the value of a decentralized network. But the above very real potential downsides make me nervous with FUD.
Thanks for reading the whole post! Love to hear your thoughts
