link to original reddit post by /u/ApexLiberty
Hello, one of my brothers is a aspiring day trader and he encouraging me and my younger brother to to learn about and invest in stocks and Cryptocurrencies. I already did some research myself, but I want to learn more from liberty-mind people and clarify some of my knowledge.
I know that some of the popular Cryptos are Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Monero. Dogecoin too I guess. Bitcoin seems to be the most popular Crypto, but I heard that Bitcoin have some sort of limitations that cause it to be less viable for use as a real currency. Bitcoin is apparently best used as just a means of investment instead of a useable currency, and the other Cryptocurrencies are actually able to be used as a form of money, right?
However, what Cryptocurrency should I use? I guess I should just diversify, but the main reason why I even posted here instead of just a crypto-focused subreddit is that I notice that libertarians advocate for Monero the most over the other Cryptos. So I'm wondering what set Monero apart from the other Cryptos? Is it something to do with security and reliability? I heard that Bitcoin and maybe even Bitcoin Cash are not truly decentralized and it's possible for someone to cause damage to Bitcoin if they take control of it. (Or something like that?) Does the other Cryptocurrencies have the same problem other than Monero?
Below are just small questions I have.
Other than stocks and Cryptos, there are precious metals such as gold and silver. Apparently, they're best used as another form of savings instead of proactive trading. Is that the case, or is there a exception now or before?
Other than Bitcoin, should Cryptocurrencies even be treated as speculative asset?
(Sorry if some sentences are worded awkwardly. I don't know much Crypto or stock traders terminology.)