The best advice I ever got was:
"There us no formula to life"
In the crypto world its the same people have lost everything in "solid" projects while others millions in "shitcoins"
Personally have used the phrase mining fiat to denote any activity that's main goal is an increase in fiat. Not just working
Trading is also mining fiat. HODL is mining fiat etc....
I decided to mine gold and BTC. Because fiat is an obvious scam at this point and keeping money in the bank at thus point is giving banks free money. If intrest rates are below inflation. You are actually paying them to use your money
The "average person" is now trapped in the fiat mine. The need it to pay for day to day expenses. That are increasing at 6% in the US, 21% in Turkey and 50% in the developing world. While wages stay stagnant. This is a labour trap and people will be in this mine indefinitely and their savings and pensions in 20 -30 years worthless. As due to compounding the value of each $ will be worth less 60 - 90% at yearly inflation above 5%
So while life has no formula on average it is a safer bet to mine fiat and convert it into crypto. However due to the nature of inflation disposable income will shrink and you can only mine more to survive
I suggest you read https://www.amazon.com/Fear-Robert-Mugabe-Martyrdom-Zimbabwe/dp/031605187X
On what "mining fiat" in a hyperinflation environment results in
https://www.amazon.com/Fear-Robert-Mugabe-Martyrdom-Zimbabwe/dp/031605187X - as a white Zimbabwean, I hope you understand that the actions of a despotic dictator don't represent what the majority of the population believes in. The majority of Zimbabweans of all races just want to get on with normal lives, with dignity
Item | Current | Lowest | Reviews |
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The Fear: Robert Mugabe and the Martyrdom of Zimb… | $16.96 | $16.96 | 4.4/5.0 |
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