Cryptocurrency

[mobb_deep 920]

Invested 5g on a couple rigs. Mining Litecoon and some other alts. My BIL and some of his partners have a bunch of machines in Sweden. The electricity is cheap, so theyre making some nice profit. Should get 5-600 a month on avg out of the two rigs. Will let you guys know how it goes.

[Frozenbeernuts 2,235]

I have a total of a out 4k invested into Bitcoin and Ethereum. I'm not up much since I just got in a few weeks ago. Figuring out how to get money into these exchanges is a pain in the ass. The three alts I'm aiming to invest in next are

 

SWT

WLT

ZRX

 

My buddy, who has been all over this stuff since the beginning, has some good stock in bitcoin. He recommended those three

[Frozenbeernuts 2,235]

What app/site has the most up to date price info for cryptos?

 

Specifically, Id be targeting ETH if and when it drops back around 250.

 

Do you guys have alerts set up to let you know when theres a run going on either direction?

If you are going to buy in go to Gemini.com . MUCH cheaper transaction fees.

 

Having the coinbase app, however, is a nice way to just pop the app open to see the price of BTC and ETH

[Frozenbeernuts 2,235]

They are a vehicle which facilitates purchasing illegal stuff, with no insurance backing or fraud protection (aside from their basic construct/encryption). Don't get me wrong, I love the idea of of circumventing our fiat currency and fvcking the banking industry, and considered investing in them myself. I just think it is foolish to accept high interest debt (after the introductory APR) to invest in a newish, poorly regulated market whose bubble may burst at any time.

Most currencies will, but not all. This is NOT going away. There is too much invested and too many brilliant people working on these projects.

 

Dude, your a Dr. You make good money I'm sure. Take like 10k, spread it around a bit after doing your research, and then just let it sit. It's still early enough to make some money

[penultimatestraw 473]

Most currencies will, but not all. This is NOT going away. There is too much invested and too many brilliant people working on these projects.

 

Dude, your a Dr. You make good money I'm sure. Take like 10k, spread it around a bit after doing your research, and then just let it sit. It's still early enough to make some money

Oh, I don't think its going away anytime soon. I've contemplated buying some, but ultimately don't really want to invest the time to do so intelligently. Throwing 10K on an investment tip from a fantasy football site probably isn't the best path to wealth.

[Frozenbeernuts 2,235]

Yea Im all aboard and ready to accept 90sbaby as my true god. I signed up for coinbase and gonna see what I can throw into it. If I have to use some credit, Ill see if I can get a low apr.

 

Great point from Mensa, people max out their credit just to start crappy businesses that project to profit in what, 3 years if they do t go under first? How is this worse assuming I think it will go up?

Use Gemini!!

[Frozenbeernuts 2,235]

Oh, I don't think its going away anytime soon. I've contemplated buying some, but ultimately don't really want to invest the time to do so intelligently. Throwing 10K on an investment tip from a fantasy football site probably isn't the best path to wealth.

It's your loss

[penultimatestraw 473]

It's your loss

We'll see. I ain't going to the poor house either way. Good luck.

[wiffleball 4,789]

I listen to Fox News and put all my investment income into commemorative Trump inaugural plates from the Franklin Mint. Trust me, my future is golden!

[Frozenbeernuts 2,235]

Tan: my buddy had enough to be a millionaire in Bitcoin. He sold it for a few grand profit. He did turn 5k into 250k, but at one point he debated taking out a 10k loan. He didn't because of the 10% interest rate..... he would have been filthy rich. Get in noe. Although I will say, coinbase will only allow $300 deposit every week from a credit card. At least that's what it allowed me when I used my credit card just to get started. It charged me $11 in fees, nuts. But all I could deposit was $300 a damn week!

 

On Gemini I wired them 2k, a $30 fee with the bank and I was set. Now that's because I had the money. I don't know how Gemini works with credit card. I can directly transfer $500/day from my bank account to Gemini. That's what I have been doing, for no fee. Only fee is purchasing coins. Soon I am going to transfer some of my bitcoin to Bittrex and Binance to purchase 3 alts.

[Reality 3,121]

Coinbase starts off low, my CC limit now is 2k (a week) after several months.

[iam90sbaby 2,578]

Oh, I don't think its going away anytime soon. I've contemplated buying some, but ultimately don't really want to invest the time to do so intelligently. Throwing 10K on an investment tip from a fantasy football site probably isn't the best path to wealth.

 

Okay, you have no interest in cryptos and are only coming into the thread to talk about how you aren't going to buy them so. So just go away and let us make money, no need for all your negativity.

 

---

 

Also as far as what sites I use.

 

I usually buy mine on Coinbase and immediately move them to Poloniex.com if I keep them online or they are in cold storage. I like Poloniex because what you have on your Polo account they only keep enough online for active trading. All the rest are in an offline storage in their storage facility. As far as security goes they are as good as it is going to get. They are also US based.

[mmmmm...beer 803]

 

Okay, you have no interest in cryptos and are only coming into the thread to talk about how you aren't going to buy them so. So just go away and let us make money, no need for all your negativity.

That's somewhat of a lil b!tchy attitude... gentleman can discuss.

 

It scares me more that you would try to shut up anyone that has a difference opinion in all this.

 

If this sh!t does blow up in these guys faces it's pretty much all you.

 

Hey.. I hope it succeeds... but for focks sake.. nothing is 100%.. and boys if someone tells you that and refuses to let anyone say anything to refute it.. focking walk away.

 

Oh and don't threaten to come punch me in my face, because that wouldn't probably work out so well.

[vuduchile 1,945]

That's somewhat of a lil b!tchy attitude... gentleman can discuss.

 

It scares me more that you would try to shut up anyone that has a difference opinion in all this.

 

If this sh!t does blow up in these guys faces it's pretty much all you.

 

Hey.. I hope it succeeds... but for focks sake.. nothing is 100%.. and boys if someone tells you that and refuses to let anyone say anything to refute it.. focking walk away.

 

Oh and don't threaten to come punch me in my face, because that wouldn't probably work out so well.

Can you shed some light on what made you get out of cryptos?

 

You mentioned the volatility. Were your traditional investments doing as well or better with less perceived risk?

[Frozenbeernuts 2,235]

 

Okay, you have no interest in cryptos and are only coming into the thread to talk about how you aren't going to buy them so. So just go away and let us make money, no need for all your negativity.

 

---

 

Also as far as what sites I use.

 

I usually buy mine on Coinbase and immediately move them to Poloniex.com if I keep them online or they are in cold storage. I like Poloniex because what you have on your Polo account they only keep enough online for active trading. All the rest are in an offline storage in their storage facility. As far as security goes they are as good as it is going to get. They are also US based.

I been waiting for 3 weeks to get verified on poloniex. I'm just going to use Bittrex and Binance. You don't like that Gemini has lower transaction fees?

[iam90sbaby 2,578]

That's somewhat of a lil b!tchy attitude... gentleman can discuss.

 

It scares me more that you would try to shut up anyone that has a difference opinion in all this.

 

If this sh!t does blow up in these guys faces it's pretty much all you.

 

Hey.. I hope it succeeds... but for focks sake.. nothing is 100%.. and boys if someone tells you that and refuses to let anyone say anything to refute it.. focking walk away.

 

Oh and don't threaten to come punch me in my face, because that wouldn't probably work out so well.

 

I am tired of his as-a-matter-a-fact attitude with everything. He always thinks he is the enlightened one. I heard doctors commonly get a God complex, must be true. Also his understanding of blockchain is limited at best. It seems like he watched a TED Talk and thinks he is an expert all of a sudden.

 

 

Nothing is on me. It is way up, they can sell now and call it quits. If they stay in any longer at this point it is 100% on them. All I did was open the door for them. Any adult would recognize that. You shut yours early and thats why you are missing out on all these gains now.

[iam90sbaby 2,578]

Can you shed some light on what made you get out of cryptos?

 

You mentioned the volatility. Were your traditional investments doing as well or better with less perceived risk?

 

He got in the price dropped a bit, he freaked the fock out, panic sold and a month or so later would have made 10%-20%. If he stayed in from when he originally purchased he would nearly doubled his money. If he bought when I originally gave him the tip he would have made over 30k.

[iam90sbaby 2,578]

I been waiting for 3 weeks to get verified on poloniex. I'm just going to use Bittrex and Binance. You don't like that Gemini has lower transaction fees?

 

I am big on security and Polo is top notch. With there not being much regulations you have to trust the platform that you are using. If my account ever got hacked I am 100% confident they would reimburse me.

 

Bittrex is solid too.

[MTSkiBum 1,620]

This is getting really popular, I know quite a few people jumping in. This just screams bubble to me.

 

I am wrong all the time though, but no way am I getting in now.

[iam90sbaby 2,578]

This is getting really popular, I know quite a few people jumping in. This just screams bubble to me.

 

I am wrong all the time though, but no way am I getting in now.

 

1-3 percent of the population is invested it isn't a bubble this is just the beginning.

[IMMensaMind 462]

Coinbase starts off low, my CC limit now is 2k (a week) after several months.

You can petition to increase it; when you do it approves you instantly.

[MTSkiBum 1,620]

 

1-3 percent of the population is invested it isn't a bubble this is just the beginning.

You have people buying in not because they want to use the product, but rather because they see people making money.

 

Same thing happened in the housing market. People were buying houses as investments rather to live in.

 

 

Just my opinion, not saying I am right, only time will tell.

[IMMensaMind 462]

Sorry, I guess I overestimated your knowledge base. I thought what he said was common sense, and effectively called anyone suggesting cryptocurrencies high risk ignorant.

 

No, I didn't. I said anyone who declares a risk level of something that they haven't researched ignorant. And scared.

 

And you've admitted that you haven't researched it; you don't want to put in the time. But you want to have your opinions.

 

So now you've heard my opinion about your opinion.

[IMMensaMind 462]

This is getting really popular, I know quite a few people jumping in. This just screams bubble to me.

I am wrong all the time though, but no way am I getting in now.

I heard the same thing when a suddenly heard a bunch of people investing in AOL back in the day.

[vuduchile 1,945]

So its best NOT to keep this stuff in your Coinbase wallet? If so, then is Coinbase useless?

 

Is there a seamless way you to purchase and securely store your coins all in one place?

[mmmmm...beer 803]

Can you shed some light on what made you get out of cryptos?

 

You mentioned the volatility. Were your traditional investments doing as well or better with less perceived risk?

It doesn't behave like any traditional investments. Jumping up and down 25-50% at a crack. It's more like day trading.

 

I didn't get scared at all. Just don't like the volatility. At any given moment it's worth nothing.

 

One of the things that caused me to think twice was a couple of instances where the price was say $250 a ETH.. then it "micro-flashed down to $18 an ETH for like 2 minutes. Then back... low and behold during those time Coinbase was having tech difficulties.

 

To me that seemed pretty focking shady. Nobody can give a good explaination why that happens. Just got me to thinking what sort of dark web russian sh!t this really is? Just seems really susceptible to manipulation as there is zero regulation to it.

 

Just a bit too "get rich quick" for my blood.

 

As for my traditional retirement... I'm up almost 20% on the year which equals about 68k. That's adding in $23k of contributions and matching though.

 

I guess with this other avenue of (IRA's, 401ks) It's a tortoise v hare thing.

 

I'm 43... there's a very good chance I'll e a millionaire in my slow moving investments by 50, not to mention my pension which will kick in then as well. Lifetime money...

 

Yes.. yes.. look at me mobb_deep. I started with zero.. just like everyone else.

 

I guess if I had nothing else brewing I'd be more apt to throw caution to the wind and "shoot for the moon", but to me it wasn't worth the risk and hype.

 

Will I be missing out on the moneytrain.. meh.. maybe.. but like peanutstraw, we've created other options. I won't need it...

[iam90sbaby 2,578]

You have people buying in not because they want to use the product, but rather because they see people making money.

 

Same thing happened in the housing market. People were buying houses as investments rather to live in.

 

COMPLETELY different.

 

Imagine if we were ten years removed from the invention of the car and only 1-3 percent of the population owned a vehicle. Would you call that a bubble? That is the best analogy I can think of. But this is an enigma. Humanity has never seen anything like this before and comparing the housing market to cryptos is foolish.

[KSB2424 3,148]

 

comparing the housing market to cryptos is foolish.

But comparing it to cars isnt?

[iam90sbaby 2,578]

So its best NOT to keep this stuff in your Coinbase wallet? If so, then is Coinbase useless?

 

Is there a seamless way you to purchase and securely store your coins all in one place?

 

No.

 

Get a crypto USB: https://www.amazon.com/Ledger-Nano-Cryptocurrency-Hardware-Wallet/dp/B01J66NF46

[iam90sbaby 2,578]

But comparing it to cars isnt?

 

In my post I clearly state it is the best analogy I could think of. Cars were something revolutionary and homes have been around for centuries. What did you not like about my analogy?

[IMMensaMind 462]

But comparing it to cars isnt?

No. It isn't.

 

Cars were a disruptive technology. The comparison to automobiles - when they first were introduced to society - is comparable.

 

There has always been shelter, so the housing analogy doesn't work.

 

AC in houses? Yes. But not housing itself.

[vuduchile 1,945]

It doesn't behave like any traditional investments. Jumping up and down 25-50% at a crack. It's more like day trading.

 

I didn't get scared at all. Just don't like the volitility. At any given moment it's worth nothing.

 

One of the things that caused me to think twice was a couple of instances where the price was say $250 a ETH.. then it "micro-flashed down to $18 an ETH for like 2 minutes. Then back... low and behold during those time Coinbase was having tech difficulties.

 

To me that seemed pretty focking shady. Nobody can give a good explaination why that happens. Just got me to thinking what sort of dark web russian sh!t this really is? Just seems really susceptible to manipulation as there is zero regulation to it.

 

Just a bit to "get rich quick" for my blood.

 

As for my traditional retirement... I'm up almost 20% on the year which equals about 68k. That's adding in $23k of contributions and matching though.

 

I guess with this other avenue of (IRA's, 401ks) It's a tortoise v hare thing.

 

I'm 43... there's a very good chance J'll e a millionaire in my slow moving investments by 50, not to mention my pension which will kick in then as well. Lifetime money...

 

Yes.. yes.. look at me mobb_deep. I started with zero.. just like everyone else.

 

I guess if I had nothing else brewing I'd be more apt to throw caution to the wind and "shoot for the moon", but to me it wasn't worth the risk and hype.

 

Will I be missing out on the moneytrain.. meh.. maybe.. but like peanutstraw, we've created other options. I won't need it...

Good info. Thanks for sharing.

 

The lack of regulation and the purported shadiness surrounding this stuff has kept me on the sidelines.

 

But, I also took a pretty serious hit when the dotcom bubble burst around 2002 and then again with my traditional investments in 2008.

 

Since then, Ive been hesitant to invest in anything that looks like a potential bubble.

[WhiteWonder 2,723]

good god some of you are losers who just can't get past bickering with each other.

 

 

anyway, I am by no means against investing in crypto currencies. I do, however, like MTSki's analogy of the housing market where people were investing in houses to flip for profits rather than to live in. All, or most of you here (including myself) are investing in crypto currencies because of the profit potential of the investment, not because you actually plan to use them as your main form of payment for good and services.

 

by that same token, the comparison to cars is not very good because while cars were revolutionary, they were being purchased for practical use, not as an investment. Most people understand that automobiles are not an investment. People don't snatch up as many cars as they can with the intent to sell them all when their value doubles or triples or goes up 100x. I understand that the intent was to show that when cars were new, only a small percentage of the population had them and that crypto currencies are relatively new and only a small percentage of the population has invested in them or even cares/knows about them..... but its really a very poor analogy. I'd be more likely to go along with that analogy if this thread was about getting bitcoin so that you have the newest way to pay for stuff! and fiat currency will soon be gone!... but its not. It's an investing thread.

[WhiteWonder 2,723]

No. It isn't.

 

Cars were a disruptive technology. The comparison to automobiles - when they first were introduced to society - is comparable.

 

There has always been shelter, so the housing analogy doesn't work.

 

AC in houses? Yes. But not housing itself.

 

way off

 

MTSki was not comparing literal houses to investing in crypto currencies. He was comparing people who were real estate investors or "house flippers". They were purchasing homes for their investment value not for their practical use. It doesn't matter if "shelter was revolutionary"

 

Cars were certainly revolutionary but once a family had 1 or 2 of them, there was no need to purchase more and their values were not going up. Much like an AC unit in a house. Revolutionary, sure. Would you need more than a few window units? would they appreciate in value? Plus, both cars and AC units were being purchased for practical use.

[IGotWorms 4,057]

good god some of you are losers who just can't get past bickering with each other.

 

 

anyway, I am by no means against investing in crypto currencies. I do, however, like MTSki's analogy of the housing market where people were investing in houses to flip for profits rather than to live in. All, or most of you here (including myself) are investing in crypto currencies because of the profit potential of the investment, not because you actually plan to use them as your main form of payment for good and services.

 

by that same token, the comparison to cars is not very good because while cars were revolutionary, they were being purchased for practical use, not as an investment. Most people understand that automobiles are not an investment. People don't snatch up as many cars as they can with the intent to sell them all when their value doubles or triples or goes up 100x. I understand that the intent was to show that when cars were new, only a small percentage of the population had them and that crypto currencies are relatively new and only a small percentage of the population has invested in them or even cares/knows about them..... but its really a very poor analogy. I'd be more likely to go along with that analogy if this thread was about getting bitcoin so that you have the newest way to pay for stuff! and fiat currency will soon be gone!... but its not. It's an investing thread.

I dont see a ton of useless bickering in this thread. Its actually a pretty good discussion and you just have to get past the occasional Geek Clubisms plus completely ignore any post from MensaMind (as always)

[BufordT 431]

'Buy bitcoin with credit card' searches sparking bubble fears

 

https://www.msn.com/en-us/money/markets/buy-bitcoin-with-credit-card-searches-sparking-bubble-fears/ar-BBFOQQH?li=AA4Zjn&ocid=spartandhp

[IMMensaMind 462]

You have people buying in not because they want to use the product, but rather because they see people making money.

Same thing happened in the housing market. People were buying houses as investments rather to live in.

Just my opinion, not saying I am right, only time will tell.

 

I reposted his comment because I'm going to reference it, in response to your complaint about my take on it, and my objection to the attempt to use flipping as an analogy.

 

good god some of you are losers who just can't get past bickering with each other.

And you - somehow - consider yourself 'above the fray' when you introduce yourself to the topic by declaring others, who are bickering, "losers".

 

I think you need to roll that hypocrisy around in your mouth a while.

 

anyway, I am by no means against investing in crypto currencies. I do, however, like MTSki's analogy of the housing market where people were investing in houses to flip for profits rather than to live in.

He mentioned it as a criticism. Do you only invest in things that you use? I think you've vastly limited your investment options if you only invest in things you actually use.

 

All, or most of you here (including myself) are investing in crypto currencies because of the profit potential of the investment, not because you actually plan to use them as your main form of payment for good and services.

Huh? The profit potential of this investment is tied to the plausibility of the use of cryptocurrencies becoming a mainstream way to transact business.

 

by that same token, the comparison to cars is not very good because while cars were revolutionary, they were being purchased for practical use, not as an investment.

 

The car analogy is excellent because automobiles were a disruptive technology in the field of transportation. Before cars, we had horses and buggies. After cars: no more of each - unless you want to visit Mackinac Island.

 

Cryptocurrency is intriguing to investors because of its potential to replace government-issued currency. Tell me: why does society require government-issued currency in order to conduct transactions?

 

If you're unable to answer that question, you then know why this investment is potentially extremely explosive.

 

Most people understand that automobiles are not an investment. People don't snatch up as many cars as they can with the intent to sell them all when their value doubles or triples or goes up 100x. I understand that the intent was to show that when cars were new, only a small percentage of the population had them and that crypto currencies are relatively new and only a small percentage of the population has invested in them or even cares/knows about them..... but its really a very poor analogy.

If you understand that the analogy wasn't offered because people know that cars aren't a good investment, why the hell did you even mention it?

 

Buying a car isn't a 'good investment'. It is not the point of the analogy. Investing in Ford was the point of the analogy, FFS.

 

 

I'd be more likely to go along with that analogy if this thread was about getting bitcoin so that you have the newest way to pay for stuff! and fiat currency will soon be gone!... but its not. It's an investing thread.

 

You've gotta be kidding me. You don't understand what we're talking about here. At all. I'm going to attempt one more analogy to have you see the light and the implications.

 

To tie 'cars' and this investment together in a palatable way, I'm going to offer gasoline, and refineries.

 

Before the internal combustion engine, what call was there for gasoline?

 

A: there wasn't.

 

This investment is roughly analogous to recognizing the disruptive potential of the internal combustion engine, and investing in the gasoline which fuels them before most of society recognizes what is taking place in front of their eyes..

 

Do you get that? Now: you may disagree - do whatever you want - but that's why the car analogy is sound: it is just one of myriad examples of early recognition of disruptive technology changing the direction of how we live.

 

And that's what cryptocurrency has the potential to do.

 

way off

 

MTSki was not comparing literal houses to investing in crypto currencies. He was comparing people who were real estate investors or "house flippers". They were purchasing homes for their investment value not for their practical use. It doesn't matter if "shelter was revolutionary"

What's way off is your interpretation of what I was saying.

 

Cars were certainly revolutionary but once a family had 1 or 2 of them, there was no need to purchase more and their values were not going up. Much like an AC unit in a house. Revolutionary, sure. Would you need more than a few window units? would they appreciate in value? Plus, both cars and AC units were being purchased for practical use.

Again - and for the final time - this was never about "let's go buy a car, because doing so represents the most savvy way I can make money on this new 'car' craze". This is about recognizing that cars are going to take over - disrupt - and the best way to take advantage of that is to invest in Ford.

 

Or...gas.

[IMMensaMind 462]

Good info. Thanks for sharing.

The lack of regulation and the purported shadiness surrounding this stuff has kept me on the sidelines.

What is there to regulate? This is math, and the decision by an increasingly large segment of society that this checks even more boxes regarding confidence as a medium of transaction than even paper money does.

 

But, I also took a pretty serious hit when the dotcom bubble burst around 2002 and then again with my traditional investments in 2008.

Since then, Ive been hesitant to invest in anything that looks like a potential bubble.

Everyone understands that, except posters like straw, who don't consider the realities you just cited 'murky'.

[WhiteWonder 2,723]

I dont see a ton of useless bickering in this thread. Its actually a pretty good discussion and you just have to get past the occasional Geek Clubisms plus completely ignore any post from MensaMind (as always)

 

well i guess thats what i meant. most of the thread is not but then i open it today and its a pissing match between the two resident know it alls.

[tanatastic 2,062]

Im jumping in next week. I have about $120 to my name but gonna use credit so screw it.