07-31-2021, 06:41 AM
My parents told me not to invest in crypto because it was risky, I showed them this
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/"> <img src="https://external-preview.redd.it/XkmpYXdbYxa0boOdILsDDj_ZaohMUM8iLpO49NCt4hk.png?width=640&crop=smart&auto=webp&s=d30cc78484e91350dba1f664690b1ae50f7292e3" alt="My parents told me not to invest in crypto because it was risky, I showed them this graph and they changed their mind" title="My parents told me not to invest in crypto because it was risky, I showed them this graph and they changed their mind" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>For context I live in Argentina, our cumulative inflation rate has been over 9.000% in the last 21 years. Last year alone it was around 50%, this year it's projected to be 60% or more.</p> <p>This is how our currency has performed against the US dollar this last year: (take into account it's a logarithmic scale to show porcentual changes)</p> <p>​</p> <p><a href="https://preview.redd.it/zwlsbn0jxde71.png?width=1696&format=png&auto=webp&s=a98826f45bb9f620abe0a60ebf1da66017f63745">Argentine Peso/Dollar</a></p> <p>As you can see the rate of return is not very good. Our currency is literally a shitcoin, losing value every single week (take into account the dollar also loses value). I really think our economy could use ICP as a currency and we would even be better off haha.</p> <p>Anyways I wanted to share that. I can't stress the similarities enough (huge deficit, unsustainable debt) that have taken us to this point, but I also seem to see in the US, so buy assets that will safe guard you from inflation such as this. </p> <p>I also wanted to mention that it's illegal to buy foreign currency (dollars) so stablecoins and BTC have had a great impact by allowing the average person to save.</p> <p>Thanks for coming to my TED talk</p> <p>Edit: anyways my dad keeps thinking crypto is a scam and that we are in a bubble</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tteeoo13"> /u/tteeoo13 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/">[comments]</a></span> </td></tr></table>Kind Regards R
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/"> <img src="https://external-preview.redd.it/XkmpYXdbYxa0boOdILsDDj_ZaohMUM8iLpO49NCt4hk.png?width=640&crop=smart&auto=webp&s=d30cc78484e91350dba1f664690b1ae50f7292e3" alt="My parents told me not to invest in crypto because it was risky, I showed them this graph and they changed their mind" title="My parents told me not to invest in crypto because it was risky, I showed them this graph and they changed their mind" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>For context I live in Argentina, our cumulative inflation rate has been over 9.000% in the last 21 years. Last year alone it was around 50%, this year it's projected to be 60% or more.</p> <p>This is how our currency has performed against the US dollar this last year: (take into account it's a logarithmic scale to show porcentual changes)</p> <p>​</p> <p><a href="https://preview.redd.it/zwlsbn0jxde71.png?width=1696&format=png&auto=webp&s=a98826f45bb9f620abe0a60ebf1da66017f63745">Argentine Peso/Dollar</a></p> <p>As you can see the rate of return is not very good. Our currency is literally a shitcoin, losing value every single week (take into account the dollar also loses value). I really think our economy could use ICP as a currency and we would even be better off haha.</p> <p>Anyways I wanted to share that. I can't stress the similarities enough (huge deficit, unsustainable debt) that have taken us to this point, but I also seem to see in the US, so buy assets that will safe guard you from inflation such as this. </p> <p>I also wanted to mention that it's illegal to buy foreign currency (dollars) so stablecoins and BTC have had a great impact by allowing the average person to save.</p> <p>Thanks for coming to my TED talk</p> <p>Edit: anyways my dad keeps thinking crypto is a scam and that we are in a bubble</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tteeoo13"> /u/tteeoo13 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oup87k/my_parents_told_me_not_to_invest_in_crypto/">[comments]</a></span> </td></tr></table>Kind Regards R