Bitcoin, Cryptocurrency, and the Future of Global Finance

#778
#778
Just started couple months ago in crypto. Had put $500 in BTC 2017 to satisfy my son who has done well in it. Forgot about it and checked it in March and could not believe what it had done.
Started trying to study it and honestly decided it was over my head. Learned enough that have now decided in today’s economic climate it is a good gamble.
Now in BTC, ETH, MATIC, and XLM. Thinking of adding ADA, XMR, VET and XRP. I do not want to miss on any of these but beginning to wonder if I should not go so broad.
What I am reading makes me want to add quite a bit of XRP, but to do that probably need to cut back on others.
Any thoughts or suggestions I welcome. One issue I have is that I am with Coinbase and they do not offer XRP. What other exchange would you suggest I use?
I like the comments I have seen here, was looking on Reddit and to me that is a place to get very confused, too many “expert know it all’s.”
I am 70, and single so it is actually sort of fun. I budget $1,000 month for crypto. Was doing stocks but tired of that and concerned about the stock market.
 
#781
#781
Velo Vol said:
To be fair, this goes on in the stock market too.

But at least most of that gambling involves actual companies, rather than lines of computer code.
Click to expand...

There is plenty of gambling going on in equity markets. Penny stocks. But there is a centuries long track record to examine. It’s really not complicated… legit companies that will earn profits will lead to higher stock prices.

I’m still not seeing much other than pure speculation driving the value of various cryptos. I’ve never suggested that they are going to zero. Dot coms didn’t go away, the valuations just had to reset since they got about 15 years ahead of themselves while many went to zero.

Personally I wouldn’t go in more than 5% and 1-3% is more likely with much of that in the picks and shovels of crypto and blockchain.

Diversification is a sound, conservative approach to building wealth. Concentrating ones investments in just a few extremely risky assets is hit or miss. Might could make a fortune. Might could lose 95%.
 
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#783
#783
Imagine what it will be like in here when one of the established coins finally falls to near zero. People will be popping champagne bottles and slapping each other on the back. Liberals and conservatives, putting aside their differences to celebrate a failure because their FOMO was just too much to bear.

Hold your breath. I'm sure the first big failure will be here soon.
 
#784
#784
Thunder Good-Oil said:
Most cryptos will go to zero.

It’s funny to see CNBC mocked using a source called CryptoWhale.
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Its funny that people named crypto whale have more verified credibility than CNBC.

It is no surprise that CNBC printed the fear that you linked when the alt coin chart clearly shows the bottom is in below. Keep getting advice from CNBC and you will go to zero before any crypto.

wycof copy.png
 
#785
#785
n_huffhines said:
Imagine what it will be like in here when one of the established coins finally falls to near zero. People will be popping champagne bottles and slapping each other on the back. Liberals and conservatives, putting aside their differences to celebrate a failure because their FOMO was just too much to bear.

Hold your breath. I'm sure the first big failure will be here soon.
Click to expand...

The Ripple lawsuit settlement will be the kickoff of the culling event. When the utility switch is flipped all the money running from $hitcoins to the winners will be a glorious day.
 
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#786
#786
reecetn said:
The Ripple lawsuit settlement will be the kickoff of the culling event. When the utility switch is flipped all the money running from $hitcoins to the winners will be a glorious day.
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I just like to play devil's advocate in here sometimes. I buy some of these and hope for great results, but at the end of the day your excitement is based on how many US dollars you can turn these into, right?
 
#787
#787
allvol123 said:
I just like to play devil's advocate in here sometimes. I buy some of these and hope for great results, but at the end of the day your excitement is based on how many US dollars you can turn these into, right?
Click to expand...

My excitement is based on my potential earnings but also the revolutionary nature of this tech. I fkn can't wait to see how it's going to change business and tech in ways I didn't foresee. The stuff I can see is exciting enough. We're going bankless.
 
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#788
#788
allvol123 said:
I just like to play devil's advocate in here sometimes. I buy some of these and hope for great results, but at the end of the day your excitement is based on how many US dollars you can turn these into, right?
Click to expand...

No, my end goal is to swing trade the assets I feel have the most value into assets that can be staked into permanent passive income so I can retire and my kids can inherit the same passive income. Cashing out is always an option if an emergency arises. This market currently has a 2 trillion dollar cap. To facilitate the goals of the "Internet of Value" that will be pennies compared to where it will go. Holding is the name of the game. Cashing out is crazy right now.
 
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#789
#789
reecetn said:
Its funny that people named crypto whale have more verified credibility than CNBC.

It is no surprise that CNBC printed the fear that you linked when the alt coin chart clearly shows the bottom is in below. Keep getting advice from CNBC and you will go to zero before any crypto.

View attachment 370170
Click to expand...

I didn’t link “advice” from CNBC. It was a news article reporting on the use of margin in foreign markets contributing to the extreme volatility of crypto.
 
#790
#790
A lot of people were excited when sock puppets dot com was taking off. A lot of people were excited when they opened their accounts at Bernie Madoff’s firm. A lot of people were excited when they bought 20% CDs from Southern Industrial Banking Corporation. Just sayin’.
 
#791
#791
Thunder Good-Oil said:
A lot of people were excited when sock puppets dot com was taking off. A lot of people were excited when they opened their accounts at Bernie Madoff’s firm. A lot of people were excited when they bought 20% CDs from Southern Industrial Banking Corporation. Just sayin’.
Click to expand...

A lot of people are still excited that bought Amazon during the dot com takeoff.
 
#792
#792
Thunder Good-Oil said:
A lot of people were excited when sock puppets dot com was taking off. A lot of people were excited when they opened their accounts at Bernie Madoff’s firm. A lot of people were excited when they bought 20% CDs from Southern Industrial Banking Corporation. Just sayin’.
Click to expand...
Yeah you've said it plenty. What's your reason for continuing to say it?
 
#793
#793
OldVolMan said:
Just started couple months ago in crypto. Had put $500 in BTC 2017 to satisfy my son who has done well in it. Forgot about it and checked it in March and could not believe what it had done.
Started trying to study it and honestly decided it was over my head. Learned enough that have now decided in today’s economic climate it is a good gamble.
Now in BTC, ETH, MATIC, and XLM. Thinking of adding ADA, XMR, VET and XRP. I do not want to miss on any of these but beginning to wonder if I should not go so broad.
What I am reading makes me want to add quite a bit of XRP, but to do that probably need to cut back on others.
Any thoughts or suggestions I welcome. One issue I have is that I am with Coinbase and they do not offer XRP. What other exchange would you suggest I use?
I like the comments I have seen here, was looking on Reddit and to me that is a place to get very confused, too many “expert know it all’s.”
I am 70, and single so it is actually sort of fun. I budget $1,000 month for crypto. Was doing stocks but tired of that and concerned about the stock market.
Click to expand...

reece turned me onto Uphold which is where I bought XRP. It was one of the easier setups as far as these exchanges go. I also like their interface a lot.

I would love to have $1k/month to play with. My wife would kill me with pain. We're on a pretty tight budget until the kids are old enough to let the nanny go.
 
#794
#794
n_huffhines said:
reece turned me onto Uphold which is where I bought XRP. It was one of the easier setups as far as these exchanges go. I also like their interface a lot.

I would love to have $1k/month to play with. My wife would kill me with pain. We're on a pretty tight budget until the kids are old enough to let the nanny go.
Click to expand...
Uphold was much easier than others. Also have crypto.com and coinbase but haven't used the interface on uphold enough to compare
 
#795
#795
One note on uphold.

Make sure they have the ability to withdraw the asset you plan to buy if you are going to stake somewhere else or put it on a hardware ledger.

I know they do not have a withdraw ability for ADA holders. So if you plan on staking it on Yoroi or Daedalus keep that in mind.
 
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