anybody else into cryptocurrency?

[Jesse6869]

Yep my wife listened to a friend that bought bitcoin made money, and against my better judgement wanted 20k. Well let’s just say I couldn’t buy 4 tires for what’s left. But I forgot all about it and this thread has sparked some bad memories. So now I will go back to tell her that’s why I buy the cars because they’re real and I can see them.

 

[Don selleck]

got into a few of these last year made a few bucks, thinking with the new administrations push toward it, how can you lose, ended up picking up some more DOGE last november. speculatiors are predicting big gains, withe Elon pushing it also, and running the department of government efficiency, (DOGE). I'm in. and bitcoin is $104,000.00 plus per coin. I was talking to a friend 8 years ago and I was going to buy some, my wife talked me out of it.

 

[DeltaV]

Crypto is like reproduction fender tags?

 

[Don selleck]

we will see.

 

[Nxcoupe]

It is a pnzi scheme that seems to be holding value. The day that everyone decides to pull their money out, it'll crash hard. I won't invest in anything that isn't linked to a tangible thing, like a business or precious metal. If you can get in low and cash out high, in a short amount of time, that would be good, but the risk is high. Whenever I ask someone to explain to me what bitcoin is, I love to hear the word salad explanations. I'm good.

 

[68-500]

It is a pnzi scheme that seems to be holding value. The day that everyone decides to pull their money out, it'll crash hard. I won't invest in anything that isn't linked to a tangible thing, like a business or precious metal. If you can get in low and cash out high, in a short amount of time, that would be good, but the risk is high. Whenever I ask someone to explain to me what bitcoin is, I love to hear the word salad explanations. I'm good.

My thoughts exactly. I’ve researched and asked but never had an answer that tells what it really is.

 

[68BabyBlue]

It is a pnzi scheme that seems to be holding value. The day that everyone decides to pull their money out, it'll crash hard. I won't invest in anything that isn't linked to a tangible thing, like a business or precious metal. If you can get in low and cash out high, in a short amount of time, that would be good, but the risk is high. Whenever I ask someone to explain to me what bitcoin is, I love to hear the word salad explanations. I'm good.

It appears to have similar underpinnings to the Holland tulip bulb craze, but with fancier language behind it. My wife's kid brother, who is way "smarter" than me, and has already earned at least twice what I made in my career, loves it. He has also displayed an uncanny knack for buying high and selling low in every investment he ever made.

 

[#41]

I always hear the argument that there is a fixed quantity of Bitcoin that can ever be produced and that limited supply is what will drive the value to the moon.

Q. But what is to stop thousands of other cryptos being created and diluting the value of crypto altogether? A. Nothing.

 

[Fran Blacker]

It appears to have similar underpinnings to the Holland tulip bulb craze, but with fancier language behind it. My wife's kid brother, who is way "smarter" than me, and has already earned at least twice what I made in my career, loves it. He has also displayed an uncanny knack for buying high and selling low in every investment he ever made.

Beanie Babies.

 

[VANDAN]

It's coming, like it, or not. If you got into it when it started, you would be at Mecum, or BJ, with a Semi-hauler, to bring home what you'd like to. We tried to buy BC when it was $1800/coin, but my Financial guy had no connections, or confidence in it at the time. A $9K investment, 5 "coins", would yield approx $520,000 today. Apparently it has more value, than Most of you believe, as if you go to the American Precious Metals Exchange site, you'll see They Accept Crypto for Metals, so thinking it's Not Legal Tender, is a mistake. XRP is still fairly reasonable for entry, $3.1x today, as it is mentioned often as an up & coming world currency path, with some predictions reaching $100+ ? I can only say that our current Fed Note, will be changing, maybe sooner than most would like to believe, as it currently has NO BACKING, especially IF Our New Admin Audits the Fed, which is a Private Corporation.
Advice wise: Don't keep All your "eggs" in One Basket, DIVERSIFY.................

 

[VANDAN]

I always hear the argument that there is a fixed quantity of Bitcoin that can ever be produced and that limited supply is what will drive the value to the moon.

Q. But what is to stop thousands of other cryptos being created and diluting the value of crypto altogether? A. Nothing.

You're correct. BC is reaching it's "mining limit", with under 10% left to be created. This aspect I have No knowledge on the concept, except when it's gone, It's Gone. What other cryptos come into play, will depend on what the Sovereign Nations decide to use, as tender, so that's where being in early is the key. We've misplaced our Crystal Ball, so we'd probably have to research, and guess at it. Right now guessing is BC, Etherium, and XRP Leading the way ???

 

[68-500]

I always hear the argument that there is a fixed quantity of Bitcoin that can ever be produced and that limited supply is what will drive the value to the moon.

Q. But what is to stop thousands of other cryptos being created and diluting the value of crypto altogether? A. Nothing.

Another question how can there be a fixed amount of something that isnt tangible?

 

[Photon440]

I was curious about Bitcoin back in 2010-2011, researched it and still couldn't figure out what gave it any value. I thought of investing $100 just to see what would happen, then thought better of it - I could put the money to better use. Bitcoin was under $1 at the time.

 

[YY1]

I almost bought/mined some around 2014.

Right after that it tumbled.

Of course, now it's up a hundred fold.

...and therein lies the rub- it's highly, repeat HIGHLY subject to speculative surges in both directions.

 

[VANDAN]

Another question how can there be a fixed amount of something that isnt tangible?

Cryptos are based on the "block chain". There is a physical limit to number available. When that number is reached, it's limit is achieved. I've heard it is numerical/mathematically perfect, and can't be altered. Proof of that, ???

 

[SlingLow]

I always hear the argument that there is a fixed quantity of Bitcoin that can ever be produced and that limited supply is what will drive the value to the moon.

Q. But what is to stop thousands of other cryptos being created and diluting the value of crypto altogether? A. Nothing.

A buddy of mine told me about XRP this week (I pay no attention to crypto), so I pulled up the Coinbase site to take a look. There are 30 different cryptocurrencies on the 1st page and there are 603 pages. If you do the math, that works out to just over 18k cryptos on that one site. I'm pretty sure that the biggest factor in successful crypto investing is luck. If I can't understand it, and I don't, it's not for me.

 

[#41]

Cryptos are based on the "block chain". There is a physical limit to number available. When that number is reached, it's limit is achieved. I've heard it is numerical/mathematically perfect, and can't be altered. Proof of that, ???

Another question how can there be a fixed amount of something that isnt tangible?

Once all of it has been mined there can be no more by design. The "unbreakable" coding and shared chain info makes it so. Also, the closer it gets to being fully mined, the more effort has to be put into mining a coin... so the computing energy put into mining yields less and less until it's all accounted for. Quite fascinating and worth reading up on.

 

[Budnicks]

Wasn't that guy 'Altman' criminal weird dude curly flighty hair fat out of shape slob,
something like that (like Apr. 2021 ?), he wasn't a broker he was just a scammer
that just recently got pardoned, was dealing in crypto/bitcoin
& his roommate's living with him, on the island, a bunch of hippies/fags type crap
& various other nefarious type stuff, a bunch of honest people/investors all got scammed,
lost all their investments, many multiple millions of life savings
"Altman" (not sure of the name, but that comes to mind) he had spent like $9 Billion
of their investments in bitcoin/crypto stuff, trying to buy some pundits/favors,
fix them/favors so he gets his too
& today he's still got a crapload in the Caymon's, & the investors lost their asses
many were well known people
(weird dude that contributed to all pundits of the left & the likes Joe/Family)