Crypto Currency

[aloysius.x]

Question, Is anyone else dealing with different types of crypto currencies whether for investment or actual on-line/personal usage? I've been going for a few months after BTC started to go nuts but have also purchased several others. Thoughts?

-A

[arealone]

Best investment advice I ever received was if you don't understand it, then don't invest in it. I don't understand Bitcoin (other than the majority of it is held by a very small group) so I choose not to get involved in it. I broke the rule of not understanding it once before and never again.

[Exchequer]

Originally Posted by arealone

Best investment advice I ever received was if you don't understand it, then don't invest in it. I don't understand Bitcoin (other than the majority of it is held by a very small group) so I choose not to get involved in it. I broke the rule of not understanding it once before and never again.

That is very good advice indeed and I am with you 100%. I like to think I am fairly tech savvy but I still don't understand it. Especially the part about mining it from your laptop.




But I might be willing to learn....

[Ginger Doll]

Originally Posted by aloysius.x

Question, Is anyone else dealing with different types of crypto currencies whether for investment or actual on-line/personal usage? I've been going for a few months after BTC started to go nuts but have also purchased several others. Thoughts?

-A

I need a crash course. I would love to invest but unfortunately I am totally lost.

[Mr.Xavier]

If Warren Buffett says stay away.... I tend to listen.

Having said that... I invested roughly $20 extra I had in my investment account in a crypto called Doge coin 2 years ago... it was more of a joke and let’s see if in 20 years something happened. That $20 bought. me over 4,000 coins. During this GameStop scandal... Doge coin has rallied over 1,000%.... not saying it will hold but I just thought it was interesting.

I agree with the post above. If you don’t understand it (and I don’t fully), then best to stay away.

I do think what could be worth researching for investment purposes is the technology of Blockchain. Supposedly this is legit and will be the future soon when it comes to banking institutions handling their transactions. It’s supposed to be super secure. It uses similar type ideas behind crypto currency to secure online transactions. Just throwing that one out there.

[aloysius.x]

I've done a lot of research and understand the blockchain currency and all the "bolt-on's" that one can have with them. I have purchased several crypto and fortunately purchased near the bottom. What I'm seeing is that the fluctuations is so wide you really can't rely on short term gain, the costs from transactions eats a lot of that up. I'm thinking long term and was wondering how this all will play out with on-line and off-line transactions. Starting to see more vendors that are taking crypto, curious if this will happen between smaller parties, such as ourselves.

[aloysius.x]

If you're curious, I'm slightly up today. Tomorrow I could be down but two hours later I'll be up again. Huge swings, kinda like any volatile stock, really. I'm in COMP, NuCypher, Celo, Graph, BITC, LITC, EOS, ETH and Link. Looking to diversify just like anything else. Was really looking to see how all this will launch into a global use for a common currency. Right now just seeing if any of these can really play on par with stock.

[harrypatt]

Invested in BTC, ETH and lightcoin. Made money and then got out. No one really understands it but a lot of people are in it. I may get back in but not at these levels.

[Exchequer]

Has anybody here actually mined bitcoin with their computers?

[aloysius.x]

Originally Posted by Exchequer

Has anybody here actually mined bitcoin with their computers?

Na, those that are making money on it have invested in arrays of GPUs at thousands of $'s. Regular CPUs don't have the computation like a GPU has. I'm more in for speculations and on-line usage.

[ninjated]

My understanding of these are limited. I see Alito of major investment groups moving into these as a way to hide money more effectively. Once our current bunch of law makers age out, there will be a serious look at taxation and that scares the hell out of a lot if investment Groups. Many of these groups profit margin lines are nearly equal to their rate of tax avoidance.

[tuckahoe]

Originally Posted by arealone

Best investment advice I ever received was if you don't understand it, then don't invest in it. I don't understand Bitcoin (other than the majority of it is held by a very small group) so I choose not to get involved in it. I broke the rule of not understanding it once before and never again.

[QUOTE=Exchequer;1062352696]That is very good advice indeed and I am with you 100%. I like to think I am fairly tech savvy but I still don't understand it. Especially the part about mining it from your laptop.



I agree with you both. I believe it is kind of a Ponzi Scheme. Notice the triangle in Exchequer first video pic. Or maybe like the old chain letter. A few people will make a lot of money, at the expense of you and others. The people at the tip of the triangle who started the scheme will laugh at how many people they screwed. Closed end bond funds may be the best deal around today. They trade like stocks. Pay a reasonable interest rate. You won't get rich quick with them, but then, how many people have ever gotten rich from get rich quick schemes?
It is really sad the way banks treat us. Wasn't all that many years ago that Superior Federal was paying more interest on a checking account than most banks on a CD. Once WalMart bought them they had to keep the interest bearing accounts, but paid about a tenth of a tenth of a percent.
Banks no longer want to share any profits with us. They treat us like crap and act like they are doing us a favor.

[AgFox]

I’ve got some bitcoin and couple others. Made a couple hundred bucks so far. It’s pretty volatile so only play with what you’re willing to lose.

[aloysius.x]

Originally Posted by AgFox

I’ve got some bitcoin and couple others. Made a couple hundred bucks so far. It’s pretty volatile so only play with what you’re willing to lose.

Yeah, I'm about the same. When BIT was over 50K I had some major gains, the rest was just, meh...It's down to 47K, still ahead but not investing 10's of thousands but still, that kind of fluctuation is would drive someone mad.

Making money in the AM, losing by Noon and then back again in the evening. The reality is, it's not like the NY stock exchange where it closes in the evening. That shit keeps going day in and day out!

[BK]

Just don’t buy any crypto through Robinhood. You won’t actually own it.