I was just wondering if any of y’all invest in crypto I invested some last year for a Total-of 1,400$ Initial investment and today, a year and 2 days later, it hit 11,000$ for my portfolio. I’m still relatively young, 16, and want to know some of your older guys opinions on trading and stocks. And just your overall opinion on Bitcoin and altcoins
Bitcoin and other altcoins?
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Physical items (metals) and trading on things that actually exist will be the safe bet for long term growth.
The "coins" are only as good as what someone thinks they are. They are quite literally nothing but pieces of an algorithm. They could disappear tomorrow and you have nothing.
My prediction is that once the last bitcoin is found the mining will stop. Once the mining stops there will be no more transactions processed. Obviously this will be a taper down, but people aren't going to spend huge money on computers and power bills if they're not being rewarded.
Bitcoin made sense and was stable when it was the currency of the silk road. It is just another bubble to pop with no real purpose now.
The "coins" are only as good as what someone thinks they are. They are quite literally nothing but pieces of an algorithm. They could disappear tomorrow and you have nothing.
My prediction is that once the last bitcoin is found the mining will stop. Once the mining stops there will be no more transactions processed. Obviously this will be a taper down, but people aren't going to spend huge money on computers and power bills if they're not being rewarded.
Bitcoin made sense and was stable when it was the currency of the silk road. It is just another bubble to pop with no real purpose now.
I think the fear of it faltering away however when the last one is mined is not a thing to be worried about as it’s like the year 2160 or something like that. Don’t you think with the acceptance by some rather large companies, other than Tesla adopting it will make the average citizen s more inclined to use it? Honestly I have very little faith in USD so looking for other forms of currency, I guess golds and silvers wouldn’t be a bad idea as you stated then... I’m planning on liquidating my assets in the stock market soon and either buying a house or investing it in international funds or maybe metals or maybe a 416 I’ve wanted one for damn long time
I've been watching small cap alt coin manipulation with great interest for a while now. It looks fairly predictable.
What exactly are you investing in when you say you want to invest in Bitcoin? It's not even a piece of paper. It's vapordollars as far as I'm concerned.
I just don't understand it at all.
I just don't understand it at all.
Lots of money to be made in crypto
Lots of money to be lost in crypto
If you don't mind the risk and understand how it is being manipulated, there is a good chance to make a decent profit.
That being said, we are kind of at the peak of a significant rise, and it's hard to say if the rise will continue or a "correction" will come along soon.
Lots of money to be lost in crypto
If you don't mind the risk and understand how it is being manipulated, there is a good chance to make a decent profit.
That being said, we are kind of at the peak of a significant rise, and it's hard to say if the rise will continue or a "correction" will come along soon.
Think of it as Fiat currency mostly controlled by shady Chinese groups.
It started life essentially as a super geeky mathematical proof of concept and went from there.
Then since essentially anyone could do the same thing, once it took off, everybody else started their own crypto currency as well.
You could for that matter start your own at any time.
Now cryptocurrency and Bitcoin seem positively sane and stable compared to the total madness that is NFT crap.
I mean USD is similar to Bitcoin in that it’s just money with no backing the only reason 1$ is a dollar if bc the gov says so correct?
I understand the process, but people are talking about investing in Bitcoin and other cryptocurrencies. What are they investing in? It's vapor. There's nothing to it.
Investing in crypto is a good idea as long as it is part of a diversified portfolio. Along with the currency one could invest in mining firms but the value tracks directly just different orders of magnitude. If you go for the currency is a big way have your hands FIRMLY around the custodianship of the currency. People assume that crypto can simply just vanish and that is absolutely incorrect as long as you have the custodianship sorted out correctly.
Yes, Bitcoin is only part of my investment portfolio I have another 18ish in stocks and boring stuff then my car, that I will be selling this summer, 63 s22 comet, is my other assets I just find the ability to make extremely good returns in a short time on Bitcoin intriguing. And thank you for pointing out that Bitcoin won’t just vanish^
What are you in possession of? Crypto can't simply vanish because it was never there. Is crypto backed by ANYTHING substantial? What are you investing in? There's nothing there.
Please someone tell me what you are investing in when you invest in Bitcoin or any other cryptocurrency.
What does it matter what is being invested in? Either buy or or don’t. Invest in what you know and understand and stay away from what you don’t.
You are investing in unique numbers that are somewhat scarce in supply based usually on either a limited number of them available in total, or the increasing cost in power and computing resources to generate more (or both). Other people want to use those same numbers as a store of wealth / means of transferring wealth depending on essentially popularity. The value depends theoretically on how many people want them and what they are willing to pay for them. (In actuality, it is a forgone conclusion that there is a fair bit of manipulation of the value being done by those with large holdings of them, or large amounts of computing power, but that's again not much different from the real world).
It's not really that different than investing in foreign currencies or such.
Whichever scheme you are in, there is something that drives some level of "scarcity", either a limited number of these certain numbers (as in the case of bitcoin) or the ever increasing cost in power and computing resources to create more.
Bitcoin is constrained by the limited numbers allowed as well as the design of ever increasing computing resources to create more.
Other crypto currencies tend to be designed to only use the second modifier, because having both makes you hit a wall of limited common usefulness pretty quickly.
Much like foreign currency, there is a whole bunch of different competing ones and you can sell one type to buy another and such.
Currently it's pretty much impossible to "Mine" (or basically generate through electricity and computing power) bitcoin, unless you are one of the big "groups" that pretty much controls the containerloads of special processing machines to mine it. So most folks mine something else (such as Etherium) and then sell that to buy bitcoin, or simply buy bitcoin with other government backed fiat currencies and then sell it when they want to exchange it for something else.
So let me see if I understand this.
You use "real" money to "buy" non physical "electronic" coins and when they're "value" goes up you "sell" them and get paid back in real money?
You use "real" money to "buy" non physical "electronic" coins and when they're "value" goes up you "sell" them and get paid back in real money?
You could do that and lots do.
There are however a lot of true believers that don't want to sell, even when they may have bought at $5k or less and it's now $60k ish.
While most pure "investors" will simply pay "real" currency to buy cryptocurrency on an exchange, that's not the only way to get it.
If you don't want to use "real" money you can pay in computing resources.
1. Buy a high end gaming video card, stick it in your computer and run it 24x7 with mining software, when you are not gaming on your PC.
2. Depending on your cost of the card and your cost of the electricity, the video card will pay for itself in 3 to 6 months.
3. After that, it starts making you positive income each month.
4. Either keep the cryptocurrency you have been mining (for example Etherium,) or sell it on an exchange to buy Bitcoin, or sell it for "real" currency.
(As a note, forget trying to mine bitcoin directly, unless you have an in with the Chinese "groups" that make the dedicated hash machines, it's pointless to try.)
Where this becomes interesting to the average person is if:
A. You are already into PC gaming in a big way and already buy the latest / greatest / fastest cards because you want to game fast and have bragging rights.
A1. Or you want the latest fastest video card and can't afford it, BUT you could afford it if it would pay itself off in 3 to 6 months.
B. You don't game 24x7
C. You'd like to earn extra money and get essentially free video card upgrades by letting your computer run while you are not using it.
My son set up a farm with many computers for his boss. These folks really don't need to invest in crypto but they wanted to play. After a full year, they shut everything down. It could have been because of the California cost of electricity or something else, but these computers ran mining software 24/7/365 and they couldn't make it work.
The questions to be asked are:
1. What was their cost of electricity.
2. Was this back during the last bust phase of crypto when most coins lost 3/4ths of their value?
3. What were they mining?
Much like many things, you will have lots of success stories, and plenty of failure stories.
Just like for all the high profile success coins, there are way more failures and outright scams.
Also not to long ago Bitcoin halved so that would have cut their amount of Bitcoin that they mined in half
Yeah I do I just don’t feel like explaining when there is a ton of resources online that can do it better than me. Stop being fucking lazy and do you own research.
If you are actually interested in learning rather than arguing here is one place to start:
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Why Do Bitcoins Have Value?
Bitcoin is touted as a private, decentralized digital currency. But what gives the leading cryptocurrency value?
Well I think the spike in recent months has come as a result of major companies and well known financial individuals starting to accept/endorse Bitcoin. Similar to the rise in Amazon stock price after people started to see the usefulness of Amazon, the versatility of Bitcoin eth, and xrp is becoming known and people are loosing faith in USD, I wouldn’t be surprised if we saw a slight “correction of maybe the price going down to 45-50k then leveling off
Yeah, BTC has been following a pretty consistent path recently. It bumps up against resistance, drops a little, bumps again and either drops or takes off at a good clip. Over the next week or so there should be some appreciable change in BTC value. A fellow I work with tracks BTC closely.
I recently watched this Lex podcast and thought others might find it interesting how the guest related bitcoin to individual freedom.
I never really paid attention to bitcoin other than thinking that it hit its watermark a few years ago when it was equal to an once of gold. I was ignorant to what it really was. I would be interested in hearing the thoughts of those who follow bitcoin as to how volatile it appears to have been from when this thread started until now and what you expect for it going forward?
I never really paid attention to bitcoin other than thinking that it hit its watermark a few years ago when it was equal to an once of gold. I was ignorant to what it really was. I would be interested in hearing the thoughts of those who follow bitcoin as to how volatile it appears to have been from when this thread started until now and what you expect for it going forward?
$100,000 Bitcoin by the end of the year would not surprise me. Bought my first in 2016, it’s been a very good investment for me. My wife turned $4000 into about $50,000. I was able to convince her to invest in a few coins. You would not believe my results if I told you. I’m retired now!
Never invest more than you can afford to lose. It’ extremely volatile and it’s very difficult not to sell out during the drawdowns. Their is no SEC oversight or Government protection. It’s the wild Wild Wild West. You are on your own, if you use the wrong address, transfer coins to the wrong place, too bad, no one to call, they are lost.
Never invest more than you can afford to lose. It’ extremely volatile and it’s very difficult not to sell out during the drawdowns. Their is no SEC oversight or Government protection. It’s the wild Wild Wild West. You are on your own, if you use the wrong address, transfer coins to the wrong place, too bad, no one to call, they are lost.
I like crypto. Have owned bitcoin since 2013. Sold 10 at $65,000. Will sell 10 more at $75,000. Have sold small amounts here and there starting when it hit $10,000. Will hold the remaining coins for a couple more years.
Thought it was a gimmick when I bought them. Still think they’re a gimmick, but retards give me real, spendable fiat currency for it which I can use to buy tangible items.
Profits go into indexes and dividend stocks. Profit is also used to have fun. Honestly, I believe everyone should have some crypto. Right now everyone is buying shit coins because you can buy 1,000,000 of them pretty cheap. Everyone is hoping to own the next bitcoin.
Thought it was a gimmick when I bought them. Still think they’re a gimmick, but retards give me real, spendable fiat currency for it which I can use to buy tangible items.
Profits go into indexes and dividend stocks. Profit is also used to have fun. Honestly, I believe everyone should have some crypto. Right now everyone is buying shit coins because you can buy 1,000,000 of them pretty cheap. Everyone is hoping to own the next bitcoin.
Being 16, just invest in quality and hold. Reinvest dividends.
If you want to day trade, use a specific account for it. Don’t use margin.
Honestly, just having constant buys in the S&P 500 and you’ll outperform most managed funds over time. Keep your bitcoins. Live sparingly now and invest the majority of what you have left over after bills. Do what I said and you’ll be retired in your 30’s.
Once you get more experienced, and accumulate more shares, research options. Sell puts to low IQ bears and collect premium, lol.
Taxes suck.
Leap puts can be a great tool if used correctly.
As tinycock said.
Investing is long term. Invest regularly and if possible during the worst of times for the market. The saying buy low and sell high is your friend. Except it should say BUY WHEN THE MARKET IS SHIT there are always drops in the market and every once in awhile pretty substantial.
As tinycock said.
Investing is long term. Invest regularly and if possible during the worst of times for the market. The saying buy low and sell high is your friend. Except it should say BUY WHEN THE MARKET IS SHIT there are always drops in the market and every once in awhile pretty substantial.
I just bought a little bit of alt coins. Have no clue what I’m doing but watching it closely and ready to learn. Any trustworthy sources out there to study my ass off for a crash course?
Lets say you double your money in the next 30 days and you decide to sell. For whom do you sell some or all of your investment?
Here is the bottom line, you have to watch this market like a hawk, it changes in a moment's notice. This is not a good investment vehicle long-term. It is great to dick around with and make quick cash and that is it. If you have the flexibility to have a second monitor running full time that you can keep an eye on then it is for you, if not, don't bother you WILL lose your ass.
For whom? I’m not sure I understand the question, but I’d be selling for myself. If that’s what you mean, it’s only me responsible for my finances and only me reaping any gains or suffering any losses. I have 13 years until retirement and my retirement accounts are managed by firms and all are set to “aggressive” for now, but that’s someone else managing. I know very little about how all this works.
There will be no safe havens...
www.oann.com
Fed’s Powell: digital assets will likely become regulated
(Reuters) - Digital assets not governed by government regulation will probably be brought within a set of rules at some point, U.S. Federal Reserve Chair Jerome Powell said on Wednesday.
www.oann.com
they cant steal it if they dont control itThere will be no safe havens...
Fed’s Powell: digital assets will likely become regulated
(Reuters) - Digital assets not governed by government regulation will probably be brought within a set of rules at some point, U.S. Federal Reserve Chair Jerome Powell said on Wednesday.
Learn how to physically print the coins and keep them in a safe or safe deposit box. The government may be able to take over the exchanges or wallet services, but if you know what you’re doing. The government literally can not take them from you.
Fuck the Fed banks. Fuck Glowies.
Fuck the Fed banks. Fuck Glowies.
There is always the option of rubber hose decryption if they know you have some...
