How people gets diamond hands...?

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How people gets diamond hands…? My view is understanding the technology behind price, would you add something?

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I think the term is misleading and that the ability to hold is directly proportionate to your available resources.

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I think there are three categories here:

  1. fiat currencies (no fixed supply and in fact you can expect random counterfeiting from time to time)
  2. sound money currencies (fixed long term supply)
    and
  3. investments

Currencies are different from investments in that they have a use case as a currency. Sound money currencies also have the use-case as a store of value.

Investments however have other use cases whether or not they can be used as currencies. They are not good stores of value as the price jumps more up or down relative to the nature of the investment.

So if Maidsafe for example, succeeds, then as an investment it will gain a lot of value, but if they fail then it will lose all of it’s value.

But currencies are effectively a finished product - they have already succeeded and also they only have specific simple use-cases.

So as regards having diamond hands, it depends on what you are thinking about. If you are thinking of currencies, then it’s a matter of considering the value proposition of each currency versus other currencies - they all have pros and cons and the best option for any individual is personal and needs to account for your particular financial situation.

As for investments, having diamond hands is about your personal belief in the project that underlies the investment in addition to your personal financial situation.

If you are unclear about this, you might engage a professional financial planner who can help you assess your personal financial situation and who can then advise you on what investments and currencies are right for you.

That said, in terms of currencies, I can see no reason to hold large amounts of fiat unless speculating (for example buying dollars now as they are going up relative to other fiat currencies) and so for me anyway, holding sound money is a much better proposition for the bulk of my meager wealth.

Hope that helps.

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