Anyone investing in this Crypto?

[down_to_business]

CumRocket aka CUMMIES

 

looks interesting... seems porn and crypto are a great match!

[lonely_john]

Bumping this thread thanks to an interesting article:

 

Goldman Sachs executes its first bitcoin derivatives trades

 

Serious questions:

 

Are you investing in Cryptocurrencies?

Which ones?

Which websites do you use to buy/sell?

Do you keep a crypto wallet ready to do some transactions?

What kinds of goods and services do you buy with crypto?

[lonely_john]

Bumping this thread thanks to an interesting article:

 

Goldman Sachs executes its first bitcoin derivatives trades

 

Serious questions:

 

Are you investing in Cryptocurrencies?

Which ones?

Which websites do you use to buy/sell?

Do you keep a crypto wallet ready to do some transactions?

What kinds of goods and services do you buy with crypto?

[+ E.T.Bass]

Isn't cryptocurrencies akin to a pyramid scheme?

[+ E.T.Bass]

Isn't cryptocurrencies akin to a pyramid scheme?

[kingsley88]

Isn't cryptocurrencies akin to a pyramid scheme?

I think that was OneCoin from a few years ago since it never had a blockchain (Note am not a crypto expert.)

[kingsley88]

Isn't cryptocurrencies akin to a pyramid scheme?

I think that was OneCoin from a few years ago since it never had a blockchain (Note am not a crypto expert.)

[+ FrankR]

Bumping this thread thanks to an interesting article:

 

Goldman Sachs executes its first bitcoin derivatives trades

 

Serious questions:

 

Are you investing in Cryptocurrencies?

Which ones?

Which websites do you use to buy/sell?

Do you keep a crypto wallet ready to do some transactions?

What kinds of goods and services do you buy with crypto?

The article is behind a pay wall so I don’t have context behind the headline.

 

Feel free to play around with crypto if you have a strong stomach. But call it what it is - speculation. I can’t quite get myself to consider it an investment - it does not generate cashflow, there are no underlying components to evaluate to determine a fair value. For many it will end in tears. Suddenly I sound like my dad... ?

[Guest]

The words “investing” and “crypto” don’t belong in the same sentence.

the key to any bubble is knowing when to get out.

But if anyone thinks crypto is an investment, I have one word - “tulips”

[HotWhiteThirties]

You've both summed it up nicely, @FrankR and @BnaC!

[+ Cash4Trash]

The words “investing” and “crypto” don’t belong in the same sentence.

the key to any bubble is knowing when to get out.

But if anyone thinks crypto is an investment, I have one word - “tulips”

The Book Tulipmania is a great introduction to understanding economic bubbles. https://www.amazon.com/Tulipomania-Coveted-Extraordinary-Passions-Aroused/dp/060980765X

Easy read and since, to us, tulips bringing down an economy is unthinkable a good place to start understanding how things like crypto, coming out of nowhere, might very well end. P.S. we still don't have a black tulip.

[Guest]

The Book Tulipmania is a great introduction to understanding economic bubbles. https://www.amazon.com/Tulipomania-Coveted-Extraordinary-Passions-Aroused/dp/060980765X

Easy read and since, to us, tulips bringing down an economy is unthinkable a good place to start understanding how things like crypto, coming out of nowhere, might very well end. P.S. we still don't have a black tulip.

I’ll get that one. My original read on the topic was “Manias, Panics, and Crashes”. If I recall correctly, it wasn’t an easy read!

[HoleTrainer]

Y'all are a little behind the times with your objections to crypto. These are arguments that held water just a few years ago, but are irrelevant today. The institutional adaptation of crypto means that it is here to stay. It is simply new technology that y'all do not understand. Spend some time researching seriously TODAY and you will see what I mean. Some of you seem like you haven't thought critically about this topic since 2018.

[+ FrankR]

The Book Tulipmania is a great introduction to understanding economic bubbles. https://www.amazon.com/Tulipomania-Coveted-Extraordinary-Passions-Aroused/dp/060980765X

Easy read and since, to us, tulips bringing down an economy is unthinkable a good place to start understanding how things like crypto, coming out of nowhere, might very well end. P.S. we still don't have a black tulip.

 

I’ll get that one. My original read on the topic was “Manias, Panics, and Crashes”. If I recall correctly, it wasn’t an easy read!

 

There is also a good documentary on the subject on Amazon Video if you have Prime - "The Tulip Bubble".

[+ FrankR]

Y'all are a little behind the times with your objections to crypto. These are arguments that held water just a few years ago, but are irrelevant today. The institutional adaptation of crypto means that it is here to stay. It is simply new technology that y'all do not understand. Spend some time researching seriously TODAY and you will see what I mean. Some of you seem like you haven't thought critically about this topic since 2018.

I have no objection against crypto - just don't find value in it myself. You do you. I am very familiar with the technology, and have been involved in development of blockchain since (funny enough) 2018. Don't confuse the two - blockchain holds promise as a technology. ?

[kingsley88]

The institutional adaptation of crypto means that it is here to stay.

 

It seems like institutions are mainly adapting to bitcoin but not necessarily all the other cryptocurrencies? There are so many different kinds of crypto out there that it is overwhelming to an outsider such as myself.

 

I do think that as more institutions adapt to crypto, the more we may be f'd if bitcoin crashes. Who knows? Friends have been telling me it's best to diversify though and perhaps treat crypto as a separate asset class.

[Beancounter]

I know next to nothing about cryptocurrency other than the IRS now asks me every year on my tax return if I own any. Alas, the government must be taxing it now.

[CalTec]

Y'all are a little behind the times with your objections to crypto. These are arguments that held water just a few years ago, but are irrelevant today. The institutional adaptation of crypto means that it is here to stay. It is simply new technology that y'all do not understand. Spend some time researching seriously TODAY and you will see what I mean. Some of you seem like you haven't thought critically about this topic since 2018.

 

Right here with you on this point. I think people are still shell shocked from 2017.

 

Many are unaware that Tesla made more in Q1 of this year with their BTC holdings than car sales. So apparently putting your cash reserves in a crypto is profitable. Who would have guessed, with such a speculative asset.

 

And a sidenote: USD, CAD etc is referred to as "fiat", which directly translates to "by decree". Meaning that the powers that be have declared that the currency of *insert country here* is valid and legal tender.

 

One notable difference between inflationary, "printer go brrr" money and crypto is that the people who hold, use, trade, lend crypto have decided that it holds value. Not a few who have the power to manipulate its supply and dilute its purchasing power.

[CalTec]

It seems like institutions are mainly adapting to bitcoin but not necessarily all the other cryptocurrencies? There are so many different kinds of crypto out there that it is overwhelming to an outsider such as myself.

 

I do think that as more institutions adapt to crypto, the more we may be f'd if bitcoin crashes. Who knows? Friends have been telling me it's best to diversify though and perhaps treat crypto as a separate asset class.

Totally agree with you on this. Many in the space consider BTC as "digital gold" with millenials, gen z's buying it up the way their parents and grandparents bought gold.

 

It is definitely overwhelming to search through the many projects. If you have any questions about anything specific, dm me and I'll try to help you out ??

[+ E.T.Bass]

Isn't cryptocurrencies akin to a pyramid scheme?

Cryptocurrency has no central authority, right?

 

I wonder if anyone trying to anonymously transact nefarious weapons or drug deals would line up for such a system.

 

Treating it as a store of value, a way to invest and make money, seems to be a risky proposition. Like any hot stock tip, people are squawking about it like a carnival barker, for years now.

[Guest]

Y'all are a little behind the times with your objections to crypto. These are arguments that held water just a few years ago, but are irrelevant today. The institutional adaptation of crypto means that it is here to stay. It is simply new technology that y'all do not understand. Spend some time researching seriously TODAY and you will see what I mean. Some of you seem like you haven't thought critically about this topic since 2018.

You mean the same institutions that legitimized AltA Mortgages Mortgage Backed Secuities, Worldcomm, Enron, and Bernie Madoff??

 

rest assured that institutions will seem to legitimize anything they think they can make money on for a time.

 

but be sure of one thing, the perceived benefit of crypto can change overnight by government fiat.

 

the value of anything is a bubble when it’s nominal value exceeds the intrinsic value of the rights it gives you. There is no intrinsic value in crypto. Therefore it’s only value is driven by its demand (generally by folks trying to hide something….hence the risk of gov’t intervention) and there is theoretically unlimited supply since when one crypto gets expensive, another is created. Dogecoin is a joke…it wasn’t institutional buying that made it go up 12,000%

 

so, my advice TODAY is that you figure out where your exit point is…because selling early is the only way one makes money in a bubble. I won’t predict days, weeks, or years….but the reckoning will come.

[CalTec]

Cryptocurrency has no central authority, right?

 

I wonder if anyone trying to anonymously transact nefarious weapons or drug deals would line up for such a system.

 

 

Good point, because fiat is used exclusively for non-criminal activities. Better stick to fiat so nobody thinks I'm an arms dealer. Thanks for the tip.

[Guest]

One notable difference between inflationary, "printer go brrr" money and crypto is that the people who hold, use, trade, lend crypto have decided that it holds value. Not a few who have the power to manipulate its supply and dilute its purchasing power.

 

true enough. But there’s still one notable difference...the people with the printer that goes “brrrr” have a cousin with taxing authority. That’s an important distinction...

 

and as for Tesla demonstrating its profitability, every speculation is profitable when you’re on the right side of it. Note of course that Tesla’s ratings didn’t improve because of it

[CalTec]

You mean the same institutions that legitimized AltA Mortgages Mortgage Backed Secuities, Worldcomm, Enron, and Bernie Madoff??

 

rest assured that institutions will seem to legitimize anything they think they can make money on for a time.

 

but be sure of one thing, the perceived benefit of crypto can change overnight by government fiat.

 

the value of anything is a bubble when it’s nominal value exceeds the intrinsic value of the rights it gives you. There is no intrinsic value in crypto. Therefore it’s only value is driven by its demand (generally by folks trying to hide something….hence the risk of gov’t intervention) and there is theoretically unlimited supply since when one crypto gets expensive, another is created. Dogecoin is a joke…it wasn’t institutional buying that made it go up 12,000%

 

so, my advice TODAY is that you figure out where your exit point is…because selling early is the only way one makes money in a bubble. I won’t predict days, weeks, or years….but the reckoning will come.

I suggest you look at countries like Venezuela and ask them if BTC has intrinsic value.

 

And there is no "bubble". You keep referring to this impending doom. The only people who dish this rhetoric are gold bugs and cefi proponents who fear change, technology and innovation.

 

Government intervention comes when crypto projects with no fundamental use/utility like DOGE skyrockets when billionaires open their mouths on twitter and induce fomo. DOGE will be the only bust. Due to the aforementioned point, regulations will probably come.

 

In general, the ignorance is strong in this forum. Do a few hours of research and be surprised at how technology will change commerce and lives.

[Guest]

I suggest you look at countries like Venezuela and ask them if BTC has intrinsic value.

 

And there is no "bubble". You keep referring to this impending doom. The only people who dish this rhetoric are gold bugs and cefi proponents who fear change, technology and innovation.

 

Government intervention comes when crypto projects with no fundamental use/utility like DOGE skyrockets when billionaires open their mouths on twitter and induce fomo. DOGE will be the only bust. Due to the aforementioned point, regulations will probably come.

 

In general, the ignorance is strong in this forum. Do a few hours of research and be surprised at how technology will change commerce and lives.

Yes, it’s sad when countries like Venezuela have such a terrible situation that BTC looks good by comparison. Again, it was demand driven. Interesting to is the fact that once all those transfers stopped, the value crashed.