Any Crypto investors on this board?
- Thread starter Eppy99
- Start date
I just don't grok how this shit works. Every time I look at it it sounds like tulips.
Well, first of all, people who use the term “grok” are not allowed in the crypto club.
Figures. Anything else I need to know? Secret handshake? Some kind of OK sign I need to flash?
So, I've been into Crytpo now since 2017. I've learned some lessons the hard way. I bought Bitcoin not far from it's ATH and lost nearly all of its value. I've essentially changed my strategy from that of a day trader trying to make a quick buck to a longer term strategy. I've been a buyer cost averaging every week. I also round up every credit card purchase to the dollar and when it gets to a certain amount invest it into a coin of my choice. I'm sure you can do this with any stock as well. I've become a long time holder and staking my coins instead of just keeping them in a hard wallet or on the exchanges. If staking is new to any of you, it's basically allowing your investment to become liquidity for whomever you're staking with. So I'm compounding interest and getting rewarded with additional coins. My largest holding receives about 19% APY and I just restake it every once in awhile hence the compounding interest. I've decided if I'm not making money while I'm sleeping I'm not doing this right.
I feel my holdings are secure and much better than letting my money sit in a worthless bank account. I'm always looking for new ways to invest, so happy to listen to any and all ideas. I'm by no means an expert in this area, but enjoy reading and learning from others.
I feel my holdings are secure and much better than letting my money sit in a worthless bank account. I'm always looking for new ways to invest, so happy to listen to any and all ideas. I'm by no means an expert in this area, but enjoy reading and learning from others.
Interesting post. I’m fascinated by this stuff but have less than a rudimentary understanding of any of it. We use PayPal for a business I’m part of and with two quick buttons on PayPal you can now buy bitcoin.
So purchasing Bitcoin is new on paypal... I need to look into this more, but I'm not sure if using paypal is the best way to purchase it. I don't know if it's portable or if you have to keep it in your paypal wallet. Ultimately you want to be albe to move it and do as you please. Meaning swap it for a different coin if you choose, use it as a currency (I wouldn't) or stake it to compound interest. Do your research on this.
I bought some BTC when coinbase launched.... whenever that was. Btc was about $700 or so.... still have it.
Clearly didn't buy enough or I wouldn't still be around here talking to you nimrods
Clearly didn't buy enough or I wouldn't still be around here talking to you nimrods
So here's a couple platforms you might consider using. https://www.investvoyager.com/app/. You can invest in coins commision free and earn interest on some of them without locking them up for a longer period of time like I do with staking.
Also here is the platform I use for rounding up and you can link it to your voyager account to make the purchases. Roundly
Dude, that's amazing. Congrats on holding. How long do you intend to hold? You have a number in mind?
I do think there's a lot of similarties to the IT bubble of the 90's. There's a ton of speculation and some shitcoins to be purchased. I'm confident that crypto is not going away though. If anyone was successful investing in the 90's (not me) I think you can apply some of the same theory to crypto of today. Instead of playing a guessing game with the thousands of projects out there, I'm looking at the platforms or ecosytems that many of the top projects are using to launch themselves, provide liquidity and for scaling. I spend a lot of time on twitter and reading newsletters, using Telegram to listen what the communities and developers are saying and then trying to digest what's important and whats just a sales pitch.
Ha ha. I never knew this. For fun I just bought $100 of Bitcoin and $100 on Ethereum on Paypal. Of course my $200 investment immediately tumbled to $199.10. Now $199.15. Wait, $199.23. Hold on...$199.43. Check this, $199.51. IT'S ALL OVER THE PLACE!
It's going to be a long day. (Edit...$199.32...)
Ethereum has been taking off of late. It's at an ATH so don't be suprised if there's a pullback before taking off. We'll have to see since it's in price discovery right now.
Then again you can always invest in the Coinbase Exchange that just went public on Nasdaq yesterday. I haven't looked to see what it's trading at. That is if you'd rather not get dirty and want to stick to stocks.
I'm with you. When you first buy it's directly related to $... just for simplicity say 1 bitcoin is cost $1 when you buy it. Suppose the day after you buy it 1 bitcoin is worth $2 .... my question is WHY is it worth $2? It's not like you're investing in a company where they make something and can become more valuable.
I thought about trying to get some of the Coinbase stock that opened directly to the public yesterday rather than an IPO but chickened out.
It is the wrong time just because it is well into record territory, but I have thought about buying into dogecoin more as a lark showing my love of dogs. How can currency with dogs as the logo be bad? But I honestly do not know how to do that and haven't wanted to bad enough to investigate.
I dunno man, I've made 12 cents on the Ethereum so far...no wait..8 cents...no...29 CENTS! Oh sweet Jesus, the swings...THE SWINGS!
I can't take it.
I think that you can buy most of them by setting up an account on Coinbase
No idea. When I bought it my thought was I'd go look at it in a decade..... if it still existed. I had learned a bit about it a year or so prior... but could never figure out really how to securely buy any before coinbase came online. I thought it was a pretty fascinating system (block chain overall, not really BTC).
When all the Silk Road stories broke about online drug trade using BTC, became pretty clear this would have a healthy use not only in the blackmarket but also in economic regimes that had a lot of govt mandated economic restrictions.... and/ or hyperinflation.
I only own bitcoin and ethereum. There is endless information on twitter and YouTube. Just start following the right people.
Lol.....I hadn't looked at my coinbase in a long while, but my $500 is now $31,875.
I don't know if I'm an idiot for still holding it and ignoring it.... or an idiot for not buying a lot more whenever that was.
Probably just an idiot.
I don't know if I'm an idiot for still holding it and ignoring it.... or an idiot for not buying a lot more whenever that was.
Probably just an idiot.
Sell it and see how much the IRS will love you. I'm sure they will accept the $500 basis on the sale with no questions asked
This is the best one hour video on bitcoin and the value of it. I don't think it's anything like tulips.
I get how this all seems so confusing, seems shady, too much of a learning curve, etc, etc. All I can tell you is it can be a generational wealth opportunity. Like anything you've got to put a little time into it. I've got about 60k into crypto since 2017. My portfolio is now around 550k. My goal is to have a 1 million dollar portfolio by this calendar year. In the middle of a bull run and with crypto becoming adopted by more and more people I feel this is a real possibility. My biggest holding is the Matic coin which was rebranded this year as Polygon. I started buying it at under 1 penny. Its trading today at .42. I make over 11,000 every cent it goes up or lose the same. I'm not here to brag, I'd love for some you to adopt this as part of your diversified investment strategy. The more it's adopted by the mass the more we all win.
Isn't that pretty hard to do on a small scale any longer? My colleague has a friend who claims to make decent money on the side ($7K a month) doing this, but I don't know that I necessarily believe him. He's got some sort of rig with several high end GPU's daisy chained together running 24/7. The GPU's must be close to $1K each and it has to cost a ton to keep them running. Plus he's constantly replacing them every time faster ones come out.
I dunno. Seems like you'd need to make quite an investment to get started in mining from what little I know about it.
I’d say the big money could be made if you’re a developer. Apparently one big issue is there aren’t enough developers needed to support the needs of all these projects. Gotta think they’re paying big money with attractive stock options.
Here's two winners for you chuckleheads...Enjin Coin and Cardano Coin. I bought Enjin when it was about 22 cents and it currently stands over 3 bucks per coin. Mana is also a decent project that I own.
XRP has been running wild as of late. You'll notice that when Bitcoin rises, they all tend to rise in price. Bitcoin is the tide that seems to float all boats in the crypto world.
I've had probably a dozen or more projects/coins since 2017 and 2018. Some of them are scams, losers. I still question the overall utility of these coins. Many of them are expensive to use, expensive to transfer and inefficient.
XRP has been running wild as of late. You'll notice that when Bitcoin rises, they all tend to rise in price. Bitcoin is the tide that seems to float all boats in the crypto world.
I've had probably a dozen or more projects/coins since 2017 and 2018. Some of them are scams, losers. I still question the overall utility of these coins. Many of them are expensive to use, expensive to transfer and inefficient.
That's what I figured. I wouldn't be averse to building a high end workstation and just letting it run if I thought it would pay off eventually. If I could build it for a grand and make it back in 3-5 years I might consider it. Would get me in the game at least.
Probably better returns in just buying GPUs when they come out and then reselling
Yeah, but that wouldn't be as fun as building and running your own rig.
My problem is I enjoy spec'ing out and building computers, but the last one I built for myself was at the time pretty damn high end. It's still nice and meets all my needs, so I can't justify a new rocket ship just for what I use them for. But... if I was going to mine bitcoin, that would give me the excuse I need.
I agree with much of what you said. Though Cardano has a lot of people I respect saying it doesn’t do anything “yet” and is built on hype. Enjoin has been hot of late. I’m also in decentraland (Mana). I’m a little concerned about the NFT bubble. I don’t think it’s sustainable. I’d give a good look at polygon/Matic.
Another strong project I’m invested in is EGLD by Elrond. I wouldn’t be surprised if we’re talking about it as a top 5 crypto currency in the near future. Like Bitcoin it has a limited supply but is creating a strong ecosystem of use cases.
https://elrond.com/
https://elrond.com/
Cardano is/was supposed to be a big player in Africa. There was speculation that once it took off in Africa, it would moon. Hell, I don't know.
Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000
Bitcoin and other digital currencies plunged on Friday as U.S. President Joe Biden's proposed capital gains tax hike led to a wave of selling.
I just bought some tonight. The dip on the claim that Biden will boost capital gains rate is a gross overreaction.
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