July 20, 2024

Bitcoin Volatility – Decentralizing Social Platforms – NBA Updates. MGR Unplugged Podcast | MGR Marketing & Lifestyle Blog

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Bitcoin is very volatile, get used to it. Should social media platforms be decentralized? and the NBA is struggling to keep the season going with COVID cases increasing, but the Harden trade dominates the news.

When it comes to investing in Cryptocurrencies or any type of DeFi option, FUD and FOMO are two of the most common sentiments among people intrigued about their options.  David and I discuss some of the basics and how it compares to the birth and growth of the Internet over the past 3 decades.

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In this episode:

When it comes to crypto, I’m sure a lot of you have seen the acronyms FUD (Fear, Uncertainty, Doubt) and FOMO (Fear of Missing Out) mentioned in a variety of articles.   None of them is new though since they’ve also been used in the past when referring to any type of speculative stock investment for a long time.  Only now with Crypto’s growth and volatility in the news every day, both types of ‘fear’ have resurfaced stronger than ever.

As with any other type of investment, the key is researching and acquiring enough knowledge to understand the pros and cons of this relatively new asset class. But even more important, is the fact that no matter where you decide to invest your money, you need to be able to sleep well at night.  Any investment that stresses you out and/or causes you sleepless nights is probably not good for you.

One thing is certain.  No investment is 100% safe, and much less any investment in crypto assets.  However, neither is any investment in fiat currencies subject to uncontrolled inflation, fluctuations in value, and government manipulation.  Think of Decentralized Financing as a new way to complete transactions and a new asset class that it’s still in its infancy and with a lot of room to grow.  The same FUD and FOMO was common when the Internet came into our lives three decades ago.

During the Dot Com bubble, a lot of poorly run companies failed right away, and many other companies with solid leadership and fundamentals became the FAANGS that have now become part of our everyday lives.  If I told you just 10-15 years ago that you would have to enter your credit card information on a website to book a flight, pay a medical bill or buy groceries , you would think I’m crazy.  Today, you can’t go about your life without doing it several times a day.
I hope you enjoy our conversation.

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Note: this article and related podcast are for entertainment purposes only. It is not intended to be financial advice. The opinions and views expressed on this podcast, (written, video or audio format) are solely of their respective authors and do not express the views or opinions of MGR Consulting Group, its employees, clients or affiliates. Individual results will always vary depending on your individual investment experience, work ethic, business skills, perseverance and diligence in applying your own business plan, the economy, the normal and unforeseen risks of doing business, and other factors. All trademarks are property of their respective owners.

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