Crypto Currency (Bitcoin, Etc.)

[RFKFREAK]

Jesus, what a rough ride today.  Hope no one sold today.

[Fraser]

Got a kick reading this thread through....would be interested to know if @JetFan1983 still has "millions" of Dogecoin. 

I've only played with Bitcoin and Dogecoin these last 6 months or so. Took my typical approach with my fun investing money of buying on down days. My average cost basis on Bitcoin was just under $29k and I sold the lot when it hit $60k for the first time thinking I'd buy in when it dropped to $50k. As it hovered in the $55k-$64k region for a while I ended up buying back in at $55k but have bought some more whilst it's been in the mid $30s.

I bought Dogecoin back in January for a laugh. It was $0.008 at the time so just bought a few hundred dollars worth. It exploded within hours and went up by 1000% in 2 days so I sold the lot when it hit 8 cents and watched it tumble in minutes. For a laugh I threw another $100 back into that I'll just leave there for eternity and see what happens with it 😄 

A friend of a friend became rather well known because he threw a hard drive away by mistake that had 7500 bitcoins on it. He has made numerous attempts to have the local council allow him to dig in the area of the landfill he believes it'll be., even saying he'd donate half the money to local causes.

Man makes last-ditch effort to recover $280 million in bitcoin he accidentally threw out

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A British man who accidentally threw out a hard drive with a trove of bitcoin wants local city officials to let him search for it in a landfill site.

 

[dennyjones]

Did you see Kenny Mayne interview with Aaron Rodgers?

 

These were the last words spoken by Kenny Mayne on ESPN.

[Club Rat]

@Fraser do you hold any other altcoins?
I dabble in a few small positions, ADA, ALGO, LRC, ATOM, XLM.

Wish I would have jumped on ETH when it was 2,000 this week... 

And also MATIC when it was under a buck...

[saevel25]

I kind-of have a moral distain for crypto right now. Just a slight one. Mostly, I don't think it brings any economic value at all. Right now, its just basically a transfer of wealth mechanism. 

When you invest in a stock it is in general good for a company, which in turn grows, and benefits society. 

Bitcoin is a fabricated fad. It's basically a gold rush, but at least gold had utility after we developed electronics. Before then, gold only had value because it looked shiny. 

Some part of me wants to throw some money at this to get some wealth transfer. Other part of me doesn't want to participate in this farce. 

 

[klineka]

19 minutes ago, Club Rat said:

@Fraser do you hold any other altcoins?
I dabble in a few small positions, ADA, ALGO, LRC, ATOM, XLM.

Wish I would have jumped on ETH when it was 2,000 this week... 

And also MATIC when it was under a buck...

I've got a few, XRP is where most of my crypto money is, a small chunk in FEG too, and a little in DOGE just for fun.

Not counting on any of it and it's money I can afford to lose.

[Fraser]

44 minutes ago, Club Rat said:

@Fraser do you hold any other altcoins?

Just the Doge and Bitcoin.

A good friend who talks investment stuff with me a lot told me one of his buddies has been trying to get him into Safemoon but frankly I'm too lazy. When Doge was up at $0.70+ I was trying to figure out how to short it, preferably on an ultra fashion (I'm a big fan of widely spread ultra ETFs) and the steps to go through, Jesus. I'm too lazy even though I figured I could make a pretty penny off it...

[billchao]

38 minutes ago, saevel25 said:

When you invest in a stock it is in general good for a company, which in turn grows, and benefits society. 

Eh not really. Retail investors don’t generally have the capital required to move the value of the stock much in any transaction, and unless you’re buying stock from an IPO, the company isn’t getting your money.

There’s money to be made in crypto, but it’s an extremely volatile and unregulated market.

Risk is the biggest factor in whether to invest in crypto or not IMO, not ethics.

[iacas]

 

[Yukari]

14 hours ago, iacas said:

 

Good grief!  She needs to learn how to speak properly first.

She has no clue what it is and doesn't know how to put her thoughts into words.

[iacas]

1 hour ago, Yukari said:

Good grief!  She needs to learn how to speak properly first.

She has no clue what it is and doesn't know how to put her thoughts into words.

You kinda missed the joke/point.

[pganapathy]

I decided to get into some crypto thanks to my brother.  He is invested in mining it and also trades in some alternate cryptos.  I find it interesting.  Invested 500$ and it has gone up a bit so happy with it.  Guess I need to cash it out at some point to be playing with house money only and then see what happens

[Double Mocha Man]

Ms. Penrose also has a video on how to make sense of the stock market, and another on swinging over the top... (she does all these from the comfort of her car)

[Wanzo]

I’ve been skeptical of crypto up to this point but it sure seems to be getting a lot more mainstream.  Decentralized finance seems like it might be a thing that folks see enough benefit from to continue to pursue blockchain technology and the currency to make it happen.  

[saevel25]

1 minute ago, Wanzo said:

I’ve been skeptical of crypto up to this point but it sure seems to be getting a lot more mainstream.  Decentralized finance seems like it might be a thing that folks see enough benefit from to continue to pursue blockchain technology and the currency to make it happen.  

There is a lot of countries setting up regulations that make this stuff more legit. Things are heading in the direction of this stuff is here to stay and might become something transformative. 

[Yukari]

12 hours ago, iacas said:

You kinda missed the joke/point.

I got the joke, but can't take the way she talks...

[iacas]

9 hours ago, Yukari said:

I got the joke, but can't take the way she talks...

Yeah it wasn’t great.

[iacas]

Blockchain-based systems are not what they say they are

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If you go out seeking to learn why blockchains and the systems built atop them are apparently the future of our web, you’ll begin to see some common themes. These fall apart under further scrutiny.

If you go out seeking to learn from their proponents why blockchains and the systems built atop them are apparently the future of our web, you’ll begin to see some common themes. Two of the ones I see most frequently are:

• Decentralization: data in blockchains are distributed across innumerable servers run by innumerable people and organizations, rather than stored on servers controlled by one organization
• Immutability: what is written to a blockchain cannot be changed or deleted, unlike more traditional databases

These fall apart under further scrutiny.