Bitcoin
- Thread starter Deeeefense
- Start date
But aren't there other cryptocurrencies out there? How can you know which one has any value?
There are zillions of "me too" coins out there 99% of which are worthless. There are a few like Cardona that are worth a look, however Bitcoin and Ethereum are likely going to own the crypto currency future.
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Here's my thing with crypto: it's really hard to serve dual roles of both currency and investment vehicle. Why would I use crypto to buy a good or service (e.g. automobile) this week, if next week the value could rise and I could purchase an even nicer good or service? Or vice versa.
Too much volatility for now, and it would have to stabilize. Falling 50% over a month (in April-May), and then recovering 35% in four hours would make basic transactions a hellscape.
I am very interested in the broader uses of blockchain ledger technology and what it could for all types of things like: real estate, healthcare, taxes, etc
Too much volatility for now, and it would have to stabilize. Falling 50% over a month (in April-May), and then recovering 35% in four hours would make basic transactions a hellscape.
I am very interested in the broader uses of blockchain ledger technology and what it could for all types of things like: real estate, healthcare, taxes, etc
What was it, Tuesday? BTC and most other cryptos dropped like 10-12% mid morning and it all came back before noon. It was insane. Everyone was freaking, wondering whether to sell off or buy more, and boom.. it was already back.
I dont have much history tracking stocks, but I can't imagine you see that very often. I legit didn't even get a chance to buy, 2 hours in time I think.
I just keep throwing pocket change at it. Mostly just Ethereum and Bitcoin. Looking for some discount coins to treat like a few scratch-offs.
I dont have much history tracking stocks, but I can't imagine you see that very often. I legit didn't even get a chance to buy, 2 hours in time I think.
I just keep throwing pocket change at it. Mostly just Ethereum and Bitcoin. Looking for some discount coins to treat like a few scratch-offs.
Whatever value Deeefense decides is fair, just like a minimum wage.
There is one. It’s zero
Agreed.
How many people have had their crypto stash taken by the government? If you don't know, read up on it. As a friend told me over a decade ago, "There is no deposit or holding a gov, even one that's not meant to work that way, can't and won't take from you."
They all have a value. Don't let anyone fool you. Just like stocks and paper currency however, it is perceived value. Just like stocks it's buy low sell high. If you are disciplined and insightful you'll make money.... and you'll lose money. Hopefully you make much much more than you lose, but SOMEBODY HAS TO LOSE for you to make money.
Where money is needed it's always a gamble
As a rule, people don't use investment money to buy a good or service. Am I misunderstanding what you're saying here?
I, too, am interested in the tech of it more than the investment but will use it for both while it benefits me.
I basically took the Pandemic year of not going out that much to educate myself on investing and trading, both stocks and cryptocurrencies.
10 years or so ago they couldn't give bitcoin away. I remember being offered 1000 of them as a novelty bonus. I am kicking myself for not being smarter at the time. Have a chance to buy Apple stocks in the 70s and didn't?
You will be kicking yourself in 10 to 20 years for telling the crypto kids to get off your lawn because it's new and you don't understand it.
It's the future and won't be stopped long term. Just like the early days of national Fiat currencies it will be very chaotic while getting established and fighting for space in society.
Get on YouTube, educate yourself, and start dabbling in it.
10 years or so ago they couldn't give bitcoin away. I remember being offered 1000 of them as a novelty bonus. I am kicking myself for not being smarter at the time. Have a chance to buy Apple stocks in the 70s and didn't?
You will be kicking yourself in 10 to 20 years for telling the crypto kids to get off your lawn because it's new and you don't understand it.
It's the future and won't be stopped long term. Just like the early days of national Fiat currencies it will be very chaotic while getting established and fighting for space in society.
Get on YouTube, educate yourself, and start dabbling in it.
I don’t invest in anything I don’t understand
I grabbed $25 of KEEP when it dropped down to 0.23 cents (the high was 0.74 cents), on the same premise I've been following: take a cheap coin, throw some "beer money" at it, and just sit on it. I own 80 KEEP tokens, probably won't be worth ****. But you feel like SOME coin(s) or crypto stock is going to skyrocket, for whatever reason.
Coinbase annoys me though.. The app does not do a great job of telling you how you paid for a coin, or historical purchases in general. The website does a little bit better of a job, but still not great.
Coinbase annoys me though.. The app does not do a great job of telling you how you paid for a coin, or historical purchases in general. The website does a little bit better of a job, but still not great.
Yea a lot of the quick-bucks types have been bailing out over the last few months but the long term holders have been adding to their position. Now more institutions are getting into the game. Long term trend seems extremely bullish for bitcoin and ethereum
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Just checked my Coinbase account (I do so every few days). Highest my portfolio has been. But it literally only broke even a week or two ago, after being down since I started my account. Rough ride for sure.
Yep. It's ALL a gamble.
The only reason bitcoin can fluctuate so dramatically is that it's NOT tied to things like mortgages, real property, and measurable investments.
When it can also be confiscated by the government at any time, because, well, you have too much, it's more risky than most investments to hold long term. It's happened.
But it's also happened to people with tons in stocks and other investments. McAfee....?
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They all seem like idiots, but whether they are or not, the people pulling their strings know exactly what they're doing. They're making everyone else that is plugged into the idiot boxes think crypto is dangerous/the enemy. It's what they do.
That's the same for everything. Like any other investment you need to not be emotionally attached to missing out on future gains. Set your price/return point to get out and when you hit it, sell and don't look back. Find your next investment, even if it is the same investment at a lower price.
I legit did a mathematical calculation of bitcoin and determined the value of it should be $47K. That was about 3 years ago. I think I was drunk as I don't remember how I came to that conclusion.
Not a currency to US Gov but a collectable like Au. So sales are capital G/L events.
Dan Crenshaw has a good podcast recently traversing the basics of bitcoin.
This has been viewed as mostly positive by the crypto currency community. The EO will give the government some regulatory roll in the security and transfer of CCs which should give investors more confidence in holding bitcoin and other CCs as investments.
Bitcoin grew as a way to get away from government controlled currency. Anyone saying government intervention is a positive, is just a paid shill, bot, or just wrong. The government has never bettered something with intervention.
They tried controlling and imo even wrecking it with all the weirdo out of the blue cryptos; hoping to saturate the market and destroy the entire format. Now those didn't work, it's on to heavy handed regulation and control.
These nations will not allow anything to endanger their control of currency.
I feel so good. Government- backed crypto. Scary **** I tell ya.
Then they went to character assassination of those holding and using bitcoin as black market dealers and worse to confiscate it from the major holders. Govs gonna gov
I'm all for government backed crypto. I think it's the next phase of crypto. I looked at it like open source programming. There is a role for open source projects, but there is a reason Apple isn't open source.
But let's get away from ideological tenants for a second. The potential of a stable crypto currency that can be used as a legal tender has huge potential technically that I'm excited about. I think it'd also put companies like Paypal out of business and would completely disrupt any company in payment processing. Essentially, if US currency has a blockchain, we have an API into our own currency.
Another benefit, if such a blockchain supports smart contracts, it decreases need for arbitration and attorneys in contracts. Payments are simply paid if conditions are met.