Anyone Invested in crypto?

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  • AtTheMurph

    SHOOTER
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    Jan 18, 2013
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    And you only need to go up 35% to get to even.

    I don't understand why a notation on a ledger is valuable. And crypto is nothing but a notation on a ledger.
     

    dudley0

    Nobody Important
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    99   0   0
    Mar 19, 2010
    3,725
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    Grant County
    So I have this guy that works for me on occasion that keeps ranting about doge, says he is sure it's the next best money maker.

    I don't dabble in paper or whatever crypto is called. I am intrigued tho. It looks at a very brief glance that doge is a dog (pun intended).

    Curious what people that do play in this market think. Doge has about a 9% return overall, but is down now.

    I realize that nothing is set in stone and playing this game is a gamble. Just thought to get my feet wet maybe I could drop 1k into the paper market and see what it does. For grins if nothing else.
     

    gregkl

    Outlier
    Site Supporter
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    33   0   0
    Apr 8, 2012
    11,868
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    Bloomington
    My crypto holdings are tanking big time right now. But I don't have much invested and I have been so conservative all my life that I decided that one time I'll throw caution to the wind and buy some.

    I will hold on to it until it becomes worthless or until I can make a decent profit, whichever comes first.

    I don't understand crypto so therefore I shouldn't be putting my money into it if you listen to people like Jack, Peter, Warren and others. But I'm not sure that it's a good idea to follow those guys anyway.

    I have the bulk of my money in mutual funds that have an are performing well so I am doing okay as far as my future retirement goes, knock on wood.

    This is speculation money. People tell me not to look at it as some kind of currency but rather as software. It could be the next Google, Apple, Tesla, Facebook, etc. as far as future valuation. And if that happens I'll be glad I stepped out of my comfort zone.

    If it falls flat, I will think about the missed opportunity costs for a minute and move on.
     

    AtTheMurph

    SHOOTER
    Rating - 0%
    0   0   0
    Jan 18, 2013
    3,147
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    So I have this guy that works for me on occasion that keeps ranting about doge, says he is sure it's the next best money maker.

    I don't dabble in paper or whatever crypto is called. I am intrigued tho. It looks at a very brief glance that doge is a dog (pun intended).

    Curious what people that do play in this market think. Doge has about a 9% return overall, but is down now.

    I realize that nothing is set in stone and playing this game is a gamble. Just thought to get my feet wet maybe I could drop 1k into the paper market and see what it does. For grins if nothing else.
    Doge was started as a spoof. A joke on crypto with a crypto. You be the judge.
     

    BugI02

    Grandmaster
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    0   0   0
    Jul 4, 2013
    31,896
    149
    Columbus, OH
    So I have this guy that works for me on occasion that keeps ranting about doge, says he is sure it's the next best money maker.

    I don't dabble in paper or whatever crypto is called. I am intrigued tho. It looks at a very brief glance that doge is a dog (pun intended).

    Curious what people that do play in this market think. Doge has about a 9% return overall, but is down now.

    I realize that nothing is set in stone and playing this game is a gamble. Just thought to get my feet wet maybe I could drop 1k into the paper market and see what it does. For grins if nothing else.
    Or you could just go red or black and potentially double your 'investment' in one pass of the wheel
     

    dudley0

    Nobody Important
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    99   0   0
    Mar 19, 2010
    3,725
    113
    Grant County
    Or you could just go red or black and potentially double your 'investment' in one pass of the wheel
    Do you consider all paper investments to be akin to roulette or just crypto?

    Again, I don't dabble in it at all but was considering entering something just to test the waters.
     

    AtTheMurph

    SHOOTER
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    0   0   0
    Jan 18, 2013
    3,147
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    Please explain how the US currency in your pocket differs.:coffee:
    The chits of green paper in my wallet are currently accepted as payment for anything. Although backed by nothing and representing debt, people assign value to them currently.
     

    rhamersley

    Master
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    0   0   0
    Jan 9, 2016
    3,701
    113
    Danville
    I'm not invested in crypto per se, but I do have some money parked at Blockfi in GUSD, which is earning 9% interest right now. I can't get that return elsewhere, and GUSD is tied to the dollar so won't lose value. YMMV...
     

    BugI02

    Grandmaster
    Rating - 0%
    0   0   0
    Jul 4, 2013
    31,896
    149
    Columbus, OH
    Do you consider all paper investments to be akin to roulette or just crypto?

    Again, I don't dabble in it at all but was considering entering something just to test the waters.
    Just crypto (and tulip bulbs, of course)

    I consider crypto to be vapor value. I cannot envision anyone exchanging goods for a string of numbers on a computer in any but the most gilded ages, and pricing is driven by factors that are not apparent and most
    adherents sound more like cheerleaders than people with a theory of how prices will move and when or why

    The riskiest thing I have invested in is REMX, a rare earth and strategic mineral mining eft. It is horribly volatile and I tend not to hold it for long because of that. There was a time recently where by getting in and out at the exact right time you could have more than doubled your money in 5 months. I got in a bit late and sold late but still had a 90+% gain in 6 months. There were also plenty of equally short periods where you could lose 40 or 50% of your investment in a few months

    I do not bet the farm on this either, like gambling in Vegas you should only play with what you are willing to lose. The critical difference, IMO, is there are underlying assets that the fund holds and they have durable, intrinsic value. I would never expect strategic metals holdings to go to zero except under end of the world scenarios. I do not have the same feeling about crypto. Even Greek long bonds are less risky than crypto

    This is not investment advice. My past performance is no guarantee of your future returns and get rich quick schemes usually wind up getting someone else rich

    Just pointing out that there are traditional investments that offer high performance potential assuming you know the risks and study what drives the market

    Edit: Trailing stop orders are your friend. If you don't understand what that is, I would not consider anything as volatile as REMX were I you
     

    tv1217

    N6OTB
    Rating - 100%
    3   0   0
    Mar 11, 2009
    10,195
    77
    Kouts
    I just bought $200 in Bitcoin but the rest of of the crypto I have now is basically free because I bought low and sold half when it doubled.
     

    nra4ever

    Master
    Rating - 100%
    25   0   0
    Dec 19, 2011
    2,372
    83
    Indy
    It’s DCA time! start a weekly or bi weekly buy in crypto. Buy low sell high. Best time to buy is when there is blood in the streets. make those gains!!!
     

    gregkl

    Outlier
    Site Supporter
    Rating - 100%
    33   0   0
    Apr 8, 2012
    11,868
    77
    Bloomington
    I sold all mine. I made some money on Bitcoin and lost a little on the two others. I still didn't end up break even.

    Glad I'm out. I took the proceeds and bought an old Jeep Cherokee to fix up.

    I have more confidence in making money on that then I did crypto. And even if I don't, I sure as heck enjoy working/restoring it better than looking at a graph on Sink of Swim. :)

    From now on I'll stick to the adage to buy what I know. I'll leave the trendy stuff to the youngsters. They have time to recoup losses, I don't.
     
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