Crypto Currency

My point is, there are LOTS of ways for investors to think they are getting into Crypto in a safe(r) manner, but are really exposing themselves to tremendous risk.

Crypto isn't a suitable investment for the vast majority of people.
 
Sangre Naranjada said:
My point is, there are LOTS of ways for investors to think they are getting into Crypto in a safe(r) manner, but are really exposing themselves to tremendous risk.

Crypto isn't a suitable investment for the vast majority of people.
Click to expand...

The main thing is reading up one how the crypto is structured. Decentralized, anonymous, distributed systems can't be manipulated, like bitcoin or ethereum. FTX was centralized and involved in moving Fed money around to politicians and celebrities. Stay away from currencies which are popular to those in power and prestige.

I don't really see crypto as investment at all. I see it as a way of creating a new currency and economy. A secondary effect is that short term the coin value goes up in $ designations. But that misses the point. The point is to hold the currency now to signal to the builders that there is demand for it.
 
It isn't crypto bros fault that the ENTIRE banking system is on the verge of failure. All that has to happen for EVERY bank to fail is for 20% of depositors to try to cash out. The whole thing is a sham.
 
Monahorns said:
The main thing is reading up one how the crypto is structured. Decentralized, anonymous, distributed systems can't be manipulated, like bitcoin or ethereum. FTX was centralized and involved in moving Fed money around to politicians and celebrities. Stay away from currencies which are popular to those in power and prestige.

I don't really see crypto as investment at all. I see it as a way of creating a new currency and economy. A secondary effect is that short term the coin value goes up in $ designations. But that misses the point. The point is to hold the currency now to signal to the builders that there is demand for it.
Click to expand...
Everything monetary can be manipulated including blockchain which is the styrofoam that supports crypto. It is a Ponzi Scheme plan and simple.
 
Not only is it not illegal to steal crytpo currencies in many foreign countries, but the governments are actually enabling it.
 
Ethereum isn't decentralized which is why it can be vulnerable to hacking. I like Ethereum but this is an obvious weakness that needs to be fixed. Also, exploited through financing websites. So the issue could be more there than the crypto itself.

The interest paid in a bank account at this point still doesn't reverse the value loss through inflation. If it did you save for retirement simply by holding cash reserves in a savings account.
 
Bitcoin averages 160%+ per year since 2009. Hold it offline long term, and your returns exceed hedge funds! I’m up 400% since 2020. These arguments that inflation is low and Bitcoin is too volatile ignore the longterm trends! I sold all stocks! I hold Bitcoin and some Gold, Silver, Art. Bitcoin could easily double this year at some point. From $28,800 where it is now.
 
AC said:
Bitcoin could easily double this year at some point. From $28,800 where it is now.
Click to expand...
Almost one year to the day from this post, bitcoin is at $70,000
:e-thinking:

btcusd-1year.jpg
 
Last edited:
Monahorns said:
Now I have to wait until it comes down again before I buy more. I missed the latest dip. Kicking myself.
Click to expand...
Give it a few minutes :smile1:
It ran up to about $74k a couple weeks ago, then closed at $62k a few days later
I wonder how much of that is related the ETFs that were approved in January
A lot of money has poured into those
 
Driver 8 said:
Give it a few minutes :smile1:
It ran up to about $74k a couple weeks ago, then closed at $62k a few days later
I wonder how much of that is related the ETFs that were approved in January
A lot of money has poured into those
Click to expand...

The ETFs is what I heard and soon another halving will occur, so I could go up again. I will wait until it gets down to 40k or lower, because I think it will go back up to the current again sometime or beyond.
 
AC said:
Bitcoin averages 160%+ per year since 2009. Hold it offline long term, and your returns exceed hedge funds! I’m up 400% since 2020. These arguments that inflation is low and Bitcoin is too volatile ignore the longterm trends! I sold all stocks! I hold Bitcoin and some Gold, Silver, Art. Bitcoin could easily double this year at some point. From $28,800 where it is now.
Click to expand...
You called it right about a year ago.

:clap:
 
You must log in or register to reply here.

Weekly Prediction Contest

Predict TEXAS-ARIZONA STATE

CFP Round 2 • Peach Bowl
Wed, Jan 1 • 12:00 PM on ESPN
AZ State game and preview thread


Chick-fil-A Peach Bowl website

Recent Threads

Prediction Results Threads

2024 Schedules

Back
Top