Any Crypto Coin investors here? Can you explain this?

[Deleted member 137765]

Any investment veterans here? I have always chose to invest my money in my own companies cuz I'm convinced I know better than most and prefer to bet on myself. At least I know the game's not rigged.

But while having lunch with my 25 yr old daughter and learning she turned $300. in crypto coin into a $5000.00+ profit...my eyes widened. She said if I wanted to "play" (likening this type of investing as comparable to gambling...something I enjoy) that I should start with a crypto coin called SHIBU ITO. So exactly two weeks today I thought WTH...I'll buy $1000. worth and have something new I can use to bond with my daughter over. All the lingo about this type of investing is over my head (staking, bearing, burning, etc.) and the only thing I do understand is the high risk and volatility of the coin. I figured the worst thing that could happen is I lose a grand which, takes me a short time in Vegas during some trips.

But then a crazy thing happened. My grand is now up 70%. A net gain of $700 in 2 weeks? Seems unrealistic but my kid swears that the longer I hold it, the more it will climb (with major peaks & valleys weekly). She said most investors only jump in for ten days or so...she prefers 10 months.

Now at this point I'm still stunned by the performance and my efforts to understand the whole crypto coin game is confounded by videos and reports using terminology I am completely unfamiliar with. Is there a layman's explanation of SHIBU that an old fart can understand? Anybody? Something less cryptic than the news feeds?

 

[The D]

I’m not anywhere close to being comfortable enough to give advice but check out someone named Saifedean Ammous. He focuses more on Bitcoin but he’s balls deep in the crypto community

Saifedean.com

saifedean.com

 

[x2cross]

Crypto is digital currency that is volatile like stocks, but only because people's opinion on it's value changes. It can crash just as easy as it goes up, and there's no warning signs. I started with $100 in SHIB, and I'm at $208 right now after a week or two. Gonna pull out my original "investment" and keep playing around with the rest.

 

[RUTGERS95]

made quite a bit with ETH but out now as the mkt is top heavy. Blockchain is the future, just not sure in what capacity.

 

[Dta1]

Next thing you know, you’ll be buying Ape Gang.

 

[loboman7x57]

I bought into dogecoin back in February and again in July. My modest investment has grown 2500% as of today. I was up 7500% at one point and should have sold but I'm gonna let it ride. I don't really think it will explode like bitcoin did, but if it does I stand to make a crap load of money.

 

[Animal357]

Crypto is based on nothing and is backed by nothing. Lots of people will make lots of money and most of it will be lost when it all crumbles. It will crumble, we just don't know when.

 

[Dta1]

I bought into dogecoin back in February and again in July. My modest investment has grown 2500% as of today. I was up 7500% at one point and should have sold but I'm gonna let it ride. I don't really think it will explode like bitcoin did, but if it does I stand to make a crap load of money.

I bought doge before it popped— sold it on the first big run. Made money. Doge, Shib, they’re just meme coins— all hype. You gotta sell when the hype is up and get out. No regrets.
It’s no different than baseball cards if you’re trading trash coins— remember baseball cards? All popularity driven. There are some coins that have value when it comes to moving money, but doge and shib are not them.

 

[Carlos Danger]

As I understand it:

Use real money to buy imaginary money.
Wait for value of imaginary money to go up or down.
Lose or make real money.

 

[loboman7x57]

I bought doge before it popped— sold it on the first big run. Made money. Doge, Shib, they’re just meme coins— all hype. You gotta sell when the hype is up and get out. No regrets.
It’s no different than baseball cards if you’re trading trash coins— remember baseball cards? All popularity driven. There are some coins that have value when it comes to moving money, but doge and shib are not them.

I didn't spend more than I could lose without feeling bad. Kind of look at it like a long term casino visit. I'm gonna hang onto it for a few years and see what happens. Might win, might lose.

 

[Punkur67]

I bought SHIB a few months ago. I bought $225 worth and it's at $1530 today

 

[Deleted member 137765]

Damn thing blew right past 50 and I've doubled my initial purchase in two weeks. Took this screenshot just before midnight. Pretty cool.

While posting this pic it jumped some more. Holy Buckets this is fun!

 

[Deleted member 137765]

Overnight...I officially dunno what to think now!

 

[gimpy]

SHIB is on a roll. I’m up ~850%

 

[Deleted member 137765]

Who needs Vegas?

 

[davsco]

mix between pyramid and ponzi schemes?

 

[steve123]

My son called me up a couple months ago in the morning and told me to buy bitcoin. By the time I did in the evening it had gone up $3000 but I bought it anyway, I bought $20,000 worth. A few days later it had dropped $2000 and I was not happy, lol.
But I sold it recently for a $5500 profit. Problem is if I had waited for another week I would have made around $8000.
At least I came out on top!

I might buy more when or if the price tanks again. Bitcoin had gone up to $67,000-ish recently but this morning it was 59,000-ish.

 

[RedTimber]

mix between pyramid and ponzi schemes?

Not entirely, in those schemes you are usually promised something that could be verified as real. Crypto starts with a basis of nothing and builds based upon how people feel about that nothing.

 

[Deleted member 137765]

...and I'm feeling nothing but good.

 

[GreenGO Juan]

Had a buddy trying to get me into xrp when it was around .40.

Today its up around $ 1.00 and peaked near 1.80.

Kinda wish I had jumped when he told me to.

 

[Leftie]

Crypto is, as of right now, as close to an unregulated, global market as you can get. Some of these "coins" do actually have value associated with them, and there are smart and patient "investors" making an absolute killing on them. If you're in it for the long-term, you're going to see some pretty awesome earnings across a diversified portfolio (think 1-4% interest per day on average. Yes, per day). That being said, all of these markets are being driven by speculation, and there are a lot of scams going around related to crypto. Do your research, and make sure that who you're dealing with and what platforms that you are transacting on are reputable. This is the financial Wild West, but it also seems to have enough attention right now that people are "laissez-ing the bon temps rouler".

Does crypto have utility? It does, but that's another discussion entirely...

Just remember the age-old adage when gambling: "don't ever bring anything to the table that you're not comfortable parting with."

 

[DIBBS]

on Crypto investmentI have two words... wait make it three

Oh Hell No!


To those who believe otherwise, I wish you the best of luck with your ventures.

 

[CE1371]

I put $400 in Doge coin earlier this year and walked out with about ten times that. It’s just gambling to me.

 

[Deleted member 137765]

OMG! It's on fire today! Must be because of going on the Chinese market.

 

[RGStory]

Many years ago, a Sergeant with a gambling problem in 29 Palms told me about something new called bitcoin. We talked about it, but I didn't put anything into it. Biggest problem being that I did not gamble and purchasing it seemed too complicated. It was under a dollar then. I recall someone buying a Papa John's Pizza about that time.

OMG! It's on fire today! Must be because of going on the Chinese market.

What you are seeing now is anticipation of SHIB being listed on the Robinhood trading application.

Now at this point I'm still stunned by the performance and my efforts to understand the whole crypto coin game is confounded by videos and reports using terminology I am completely unfamiliar with. Is there a layman's explanation of SHIBU that an old fart can understand?

Bitcoin I understand. It allows digital transaction without transfer fees. I understand why financial markets hate it. I understand why some governments hate it. I understand why people love it. There is a limited supply, so as the demand goes up, the price does as well.

The latest coins, like the one you have invested in, have promise of being used as cryptographic tools giving them utility beyond just being an alternate digital currency, by providing the potential for uniquely identifiable digital files. I really don't understand it more than this statement and I have no means to evaluate the validity of their claim. It does mean that it has potential utility beyond merely being an alternate currency like bitcoin.

However, with this really basic understanding of the newer coins, when I hear pundits talk discuss a coin's potential market cap only in terms of being an alternate currency, I tune them out. If I have done more research on the coin than they have, I might as well be listening to Nancy Pelosi on the merits of assault rifles.

I have a lot of questions about "how" and "when" it will start being used. It can be a new technology that promises to vastly influence the future with many possible unintended consequences. I know very little about this stuff but it is fascinating. It may not even be Shib or Doge that does it, but it seems clear that one of these coins will at some point find the magic mix that allows for retention of digital ownership.

Despite my lack of knowledge, like you, I do understand gains and losses.

Earlier this year, I finally said "fuck it" and placed ~3% of my total investments into various crypto coins. More than I was comfortable with, but less than I can afford to lose.

It is now the largest single sector of my portfolio at ~22% and I have not contributed beyond my initial investment earlier this year. I will start rebalancing my gains later this year after I figure out the tax issue, but needless to say, I am quite pleased.

 

[sleev-les]

I put $175 in Shiba and as of yesterdays high it was $1300. This morning was a little over 1k. Still net profit so I'll let it continue to ride.

 

[candyx]

Send me cash and I will email you an Digital Currency PDF, check back with me next year and I tell you about the value of your investment.

 

[Desert_Racer]

I’ve been dabbling for a bit, but not an expert by any means. I am starting to see more and more companies advertising “we accept cryptocurrency” on their sites now.

 

[Adam B]

You can lose it as fast as you can make it and with that said I made $5k this week on shiba

 

[7.62willdo]

Someone's Purchase of $8,000 USD Worth of Shiba Inu Coin Last Year Now Worth $6 Billion USD

This could be the greatest individual trade of all time.

hypebeast.com

 

[RGStory]

You can lose it as fast as you can make it and with that said I made $5k this week on shiba

I try not to use the terminology that I "made" anything until I cash out a portion. I have a "potential value" at market conditions greater than my initial investment. That is all.

With these crypto's I tend to think of them more along the lines of a commodity.

Which is why I have a sell and purchase strategy that sees me harvesting gains over time as I rebalance my portfolio. Though, I am quite content right now to keep my percentage of the portfolio in the "crypto market" the same.

Truth is, I don't know what the hell I am doing, so I am reverting to treating it like a commodity that I am familiar with which also suffers from frequent price spikes. Energy.

 

[corym468]

Crypto is based on nothing and is backed by nothing. Lots of people will make lots of money and most of it will be lost when it all crumbles. It will crumble, we just don't know when.

The US Dollar will collapse before BTC does.

As I understand it:

Use real money to buy imaginary money.
Wait for value of imaginary money to go up or down.
Lose or make real money.

Where the hell did you find real money???

 

[Deleted member 137765]

Turbulent week but still looking good.

 

[warnera1102]

Turbulent week but still looking good.View attachment 7735244

I think I may ride this trend until RH lists, I feel its unevitable. I purchased SHIB months ago on a whim using doge profits. We will see.

 

[hic28]

Turbulent week but still looking good.View attachment 7735244

What are you in? Mine are shitty this week

 

[Hobo Hilton]

What are you in? Mine are shitty this week

Live and learn:

Ukraine’s central bank is cracking down on digital money transfers in one of the latest measures implemented in connection with a nationwide declaration of martial law.

The National Bank of Ukraine ordered electronic money (e-money) issuers to suspend the issuance of e-money and the replenishment of electronic wallets with e-money. The written order also indicated that the distribution of e-money was temporarily off limits.




The reference to electronic money likely refers to fiat currencies held in digital accounts through platforms like Venmo or PayPal.

This is one among many new rules rolled out by the country’s central bank as Russian forces lay siege across Ukraine.

The National Bank of Ukraine released a statement on Thursday with a spate of resolutions, including an order to suspend the foreign exchange market, limit cash withdrawals, and prohibit the issuance of foreign currency from retail bank accounts.

Ukrainian central bank suspends electronic cash transfers, bolstering the use case for crypto

Ukraine's central bank is cracking down on digital money transfers in connection with a nationwide declaration of martial law.

www.cnbc.com

 

[cas6969]

Crypto starts with a basis of nothing and builds based upon how people feel about that nothing.

My investments are all about nothing. Savings too for that mater.

 

[6.5SH]

My investments are all about nothing. Savings too for that mater.

Mine are all tied up in the Human Fund.

 

[HeavyAssault]

People need to listen to the business channels. When people are suggesting it's a time to buy.....maybe it is.

 

[earthquake]

So folks use real money to buy pretend money. Where does the real money go? Who's holding or pocketing it? i.e. - if/when the pretend money (coin) crashes, who's left holding the real dough?

 

[Hobo Hilton]

So folks use real money to buy pretend money. Where does the real money go? Who's holding or pocketing it? i.e. - if/when the pretend money (coin) crashes, who's left holding the real dough?

It's kind of like taking real money and buying a mirage.... When you are dying of thirst after walking miles and miles in the desert.... Only then do you realize a mirage has little value when the chips are down and those in power shut down computers and crypto currency transfers. Sort of a status symbol to "own" a bunch of mirages... That is what the crypto miner's do.. A bitcoin is only worth what someone will pay you for it.
Unlike holding physical gold... When a Governments is ready to confiscate your bitcoin, it does it remotely. When a Government wants to confiscate your gold or silver, they must face you. There is quite a difference.

Bitcoin miners revived a dying Montana coal plant—and emissions soared

With climate crisis looming, energy-gobbling cryptocurrency operations are drawing ire.

www.motherjones.com

 

[Sparkeytj]

I find it slightly ironic people are making argument's against cripto on an internet forum. Many of the same things can and have been said about the internet. There are many parallels between the two. Nobody today will tell you not to invest in an internet company because its imaganary with no real world value. From my limited knowledge cripto has the ability to streamline financial transactions the same way amazon has shopping.

 

[Sgtsideways]

Y'all might want to look at what is happening in the Ukraine and what the fed has been wanting to do. You guys in bc got your heads right up your ass if you think the fed is going to allow an independent blockchain to remain in place.
There was a big fight lately on the fed nominee ( a commie), who wanted to centralize all banking with the fed and only the fed. No Bank For You! There is also a concerted effort to establish a new blockchain technology exclusive to the fed's that is being worked on by mit.
Make your profits while you can and hope to God they don't get away with it:

https://news.coincu.com/61591-mit-and-boston-release-the-cbdc-research/

 

[Sparkeytj]

If Ukraine had a stock exchange they would be sezing that also right now, but great point the financial institutions dont like it and wont let it go on so... I should pull the small precentage of my investments in cripto and put them in the stock exchange. At this point blockchain tech is here to stay there's a reason most large economys are trying to create there own coins. Most people fear what they dont understand.

 

[Hobo Hilton]

I find it slightly ironic people are making argument's against cripto on an internet forum. Many of the same things can and have been said about the internet. There are many parallels between the two. Nobody today will tell you not to invest in an internet company because its imaganary with no real world value. From my limited knowledge cripto has the ability to streamline financial transactions the same way amazon has shopping.

You make some valid points. Perhaps I'm the only person saying to not invest in the Metaverse... IDK

 

[HeavyAssault]

Cause a $1.00 USD bill is real money????? LMAO

Any item that has value to one person could be worthless to another. Have all the gold in the world, when the world dies.....what's all that gold worth??

 

[Hobo Hilton]

Cause a $1.00 USD bill is real money????? LMAO

Any item that has value to one person could be worthless to another. Have all the gold in the world, when the world dies.....what's all that gold worth??

I guess the value is in the here after.

 

[Blaster7Romeo]

Always remember.

You have not maid money until you have sold what ever asset you are invested in. Also you have not lost money until you have sold whatever asset you are invested in.


I got in to crypto in the late summer and fall and have since "lost money" but with this current downturn have been investing more. Dollar cost averaging is your friend.

 

[Hobo Hilton]

Always remember.

You have not maid money until you have sold what ever asset you are invested in. Also you have not lost money until you have sold whatever asset you are invested in.


I got in to crypto in the late summer and fall and have since "lost money" but with this current downturn have been investing more. Dollar cost averaging is your friend.

You make very valid points.... "Dollar Cost Averaging" historically is one of the best stop loss tools. Five years ago some young men were going to spend every penny they had on ammo. I got them calmed down and got them to take a fixed portion of their paycheck and buy ammo. Just a few boxes every Friday. In the long run they bought more than they shot up, for various reasons. Today they are well stocked.

Buy "assets" with your extra money left over at the end of the month after all the bills are paid.
Never invest with money you pulled off of a credit card.

Disclaimer: In the history of America we have never witnessed conditions like those today. Don't buy any Snake Oil or chase any Mirages...

 

[IkeEng]

Any investment veterans here? I have always chose to invest my money in my own companies cuz I'm convinced I know better than most and prefer to bet on myself. At least I know the game's not rigged.

But while having lunch with my 25 yr old daughter and learning she turned $300. in crypto coin into a $5000.00+ profit...my eyes widened. She said if I wanted to "play" (likening this type of investing as comparable to gambling...something I enjoy) that I should start with a crypto coin called SHIBU ITO. So exactly two weeks today I thought WTH...I'll buy $1000. worth and have something new I can use to bond with my daughter over. All the lingo about this type of investing is over my head (staking, bearing, burning, etc.) and the only thing I do understand is the high risk and volatility of the coin. I figured the worst thing that could happen is I lose a grand which, takes me a short time in Vegas during some trips.

But then a crazy thing happened. My grand is now up 70%. A net gain of $700 in 2 weeks? Seems unrealistic but my kid swears that the longer I hold it, the more it will climb (with major peaks & valleys weekly). She said most investors only jump in for ten days or so...she prefers 10 months.

Now at this point I'm still stunned by the performance and my efforts to understand the whole crypto coin game is confounded by videos and reports using terminology I am completely unfamiliar with. Is there a layman's explanation of SHIBU that an old fart can understand? Anybody? Something less cryptic than the news feeds?

SHIBU is considered a "shit coin". Some cryptos have utility, like payment systems for online advertising. There's even some associated with the adult entertainment industry. As far as I am aware, SHIBU has no utility and is just a fad coin.

That being said, if you catch the wave at the correct time you can make a profit like this guy who invested a little more than 8K over a year's time and turned it into 5.7 BILLION in SHIBU. Good luck selling those coins though.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com