If cryptocurrencies disappear - how will your life change ?

[alltalk]

What can possibly make it disappear? We may have no CEX in the future due to the strict regulation applied by the government. However, I can't find a logic reason to lose blockchains and DEX. 

However, if everything about crypto disappears, I'll focus on my jobs in real life. There are many things to be done in real life, we don't only have digital assets but we have physical assets. Before crypto digital assets will be gone, I'll switch the assets to physical assets if it is still possible. I'm very sure, it won't disappear suddenly. There should issues or rumors that we may reach the end of crypto world. So, we must have time to convert our crypto digital assets into fiats or physical assets.

 

[_act_]

Is that not one of the reason why we should have diversification in whatever we do that bring in money and food to our table, when we don't have a single source of income, then we may not be scared of facing any challenges of life because we are independent on our own, i don't think we should except cryptocurrency to disappear and fade away like that, because bitcoin is involved and already recognized as a digital currency and investment asset, while we can have other sources as an addition investments apart from crypto.

[DrBeer]

Is that not one of the reason why we should have diversification in whatever we do that bring in money and food to our table, when we don't have a single source of income, then we may not be scared of facing any challenges of life because we are independent on our own, i don't think we should except cryptocurrency to disappear and fade away like that, because bitcoin is involved and already recognized as a digital currency and investment asset, while we can have other sources as an addition investments apart from crypto.

Very clever conclusion ! Diversification is the principle we should always use when it comes to our income. And being dependent on only one revenue channel is an unjustified risk ! Judging by the responses of the respected public - there is a group of people who have cryptocurrency as their main channel of income, if not the only one, and therefore it is worth thinking about diversification

[Dr.Bitcoin_Strange]

Very clever conclusion ! Diversification is the principle we should always use when it comes to our income. And being dependent on only one revenue channel is an unjustified risk ! Judging by the responses of the respected public - there is a group of people who have cryptocurrency as their main channel of income, if not the only one, and therefore it is worth thinking about diversification

You are right mate, economists will always advice against having just one source of income and it's riskier when a person's only source of income is just cryptocurrency. I heard of someone that his only source of income is trading, at some point he became broke because he lost all his money to crypto trading and after he managed to rebuild his portfolio again, he then start investing on real world asset and even opened a big business.

[alltalk]

Very clever conclusion ! Diversification is the principle we should always use when it comes to our income. And being dependent on only one revenue channel is an unjustified risk ! Judging by the responses of the respected public - there is a group of people who have cryptocurrency as their main channel of income, if not the only one, and therefore it is worth thinking about diversification

Indeed, that's why we need to diversify our assets and don't solely rely on crypto investment only. Diversification isn't for crypto coins only, but we should diversify into other types of investment. I also divide my funds to physical investment such as Gold, lands, and real estate/property.

Yep. Nowadays, we can't have a single source of income. It is unsafe if we only get the income from crypto only. We need to have real life jobs as well. We don't forget that digital jobs can dissapear at any time. We don't know how long we will have internet. Someday this may be gone permanently.

[albon]

If the crypto currency is closed then maybe we will lose a lot of money but in reality we will have to re-establish ourselves through other businesses. We always spend part of the money we earn from the crypto market on trading in real life, and many do. Moreover, not only digital assets we also have physical assets. Also if we know before the crypto is gone we will convert our assets into physical assets quickly. The sudden disappearance of the crypto world is completely unrealistic. We will never find such a problem and we are sure it will never disappear.

[Hatchy]

Hmmmm.. if crypto disappeared tomorrow, it will shake things up oo. For those who have invested a lot of time and money in the space, it would mean loss of assets and income streams, which will be hard and almost impossible to recover from. People who rely on crypto trading, mining, or staking will need to find new ways to make money. Still though, daily life for most people might not change much, since crypto is not yet fully mainstream, the impact will just be on those who built businesses and communities around blockchain technology, as they would need to pivot really fast.

Side thought though;
If i'm being honest, to summarise and based on my intrusive thoughts, "There might be war"

[DrBeer]

Very clever conclusion ! Diversification is the principle we should always use when it comes to our income. And being dependent on only one revenue channel is an unjustified risk ! Judging by the responses of the respected public - there is a group of people who have cryptocurrency as their main channel of income, if not the only one, and therefore it is worth thinking about diversification

Indeed, that's why we need to diversify our assets and don't solely rely on crypto investment only. Diversification isn't for crypto coins only, but we should diversify into other types of investment. I also divide my funds to physical investment such as Gold, lands, and real estate/property.

Yep. Nowadays, we can't have a single source of income. It is unsafe if we only get the income from crypto only. We need to have real life jobs as well. We don't forget that digital jobs can dissapear at any time. We don't know how long we will have internet. Someday this may be gone permanently.

Of course we are not talking about giving up crypto because “what if something happens”. But it is always worth reinsuring yourself and securing your assets. “You can't keep your eggs in one basket” - this saying is hundreds of years old and people have long realized that diversification is necessary. And this decision allows you not only to protect your assets but also to improve your financial performance by compensating losses/not making profits at the expense of profits from other assets.

[alltalk]

“You can't keep your eggs in one basket” - this saying is hundreds of years old and people have long realized that diversification is necessary. And this decision allows you not only to protect your assets but also to improve your financial performance by compensating losses/not making profits at the expense of profits from other assets.

Exactly. We can't rely on crypto only, we must have some options for our investment. That's why diversification is needed to do, we must have other assets that may be safer than crypto investment. Those physical investments will be good options for diversification assets. However, we must choose the physical investments which have quite low risks. The lands, gold, and real estate are the type of safe investments. So, even if we may get difficulty to get profits in crypto, we have other assets which are relatively safe for keeping any time.

[Aanuoluwatofunmi]

It's more better that we don't dash our hope on what is not it, because right from the begging, we already know about bitcoin that it has come to stay, we don't have to panic around with others and get moved by fear of uncertainty demands, other cryptocurrencies may be going as well as coming to be, but bitcoin will always remain and stay, this is where our confidence lies.

[Rruchi man]

Question - what changes will happen in your life ? Just a request - let's be honest and not make things up, but objectively assess how the “disappearance” of cryptocurrencies can affect us?

Based on how much I have trusted cryptocurrency and it has made me believe in the digital world, I will completely loose trust for anything online, and then try to structure my life again to fix myself in an offline business so that I can support my way of life. I will also now only consider offline investments no longer think of anything online.

[Aanuoluwatofunmi]

We cannot disguise from saying that crypto has been the major sustainability of many individuals today, now that we have everyone been involved and eager to do crypto, they have the intention of learning more and going deeper in cryptocurrency because its now the order of the day in which the people can rely on and faithfully engage in giving them the required expectations they want.

[Chilwell]

The disappearance of cryptocurrency would undoubtedly result in significant financial losses for some individuals who have invested heavily in it. However, it's essential to recognize that the loss of cryptocurrency is not the end of the world. People who have invested in cryptocurrency often have other assets and means to recover from their losses. It may take time, but they can adapt and find alternative ways to manage their finances.

Moreover, the disappearance of cryptocurrency would not affect everyone equally. Some people might not be significantly impacted, as they never invested in cryptocurrency or have diversified their investments. Life will go on, and people will find ways to adapt and thrive without cryptocurrency, just as they did before its introduction.

[segmadis]

Not much if I must be honest.
I will loose some money, which anyway I have left alone for good and I don't intend to use anytime soon.
If they don't disapear and they took over FIAT, then at least I will have something good in my accounts.

[DrBeer]

Very clever conclusion ! Diversification is the principle we should always use when it comes to our income. And being dependent on only one revenue channel is an unjustified risk ! Judging by the responses of the respected public - there is a group of people who have cryptocurrency as their main channel of income, if not the only one, and therefore it is worth thinking about diversification

You are right mate, economists will always advice against having just one source of income and it's riskier when a person's only source of income is just cryptocurrency. I heard of someone that his only source of income is trading, at some point he became broke because he lost all his money to crypto trading and after he managed to rebuild his portfolio again, he then start investing on real world asset and even opened a big business.

It was always nice to hear your reply and your opinion !
Yes, everyone should realize that to fixate and live with one idea is a bad option, even if the idea looks perfect !
The example you gave is the best way to prove it. You should always look not only in front of you, but also around you, and even look back - a broad outlook and taking into account past mistakes is a great option for development !