Cryptocurrency - Bitcoin & others..

[Lefty Moonshot]

I'm interested to hear the thoughts of THP'ers on cryptos.. Who here invests in crypto's? What are you holding?

I'm wondering if people are more focused on trading or buying & holding.

Bitcoin is around $19,600 at the time of writing this. To date, the all-time high was ~$65k. Since mid 2021, most cryptos are currently down ~40-70%..

 

[wubears71]

I won’t invest. Crypto’s and NFTs are a big scheme. I’ll stick to my balanced portfolio that I put money in monthly and enjoy the average market returns - it’s made me a lot of money over the last 23 years thanks to the power of compound interest. Im not interested in the get rich quick schemes.

 

[Lefty Moonshot]

Yea I'm in agreement on NFTs..

On Crypto's, I think there is a lot to say for their potential application.. However, I've kept my investing to <10% of my net worth into Cryptos, and am treating it a a long term investment, not to day-trade or get rich quick.

 

[Slowmo]

I'm in the camp that thinks they are a scam, though I wish I'd bought 10$ worth of bitcoin when they were .50$ back when I first heard of it in the mid 90's and I was fresh out of college.

 

[BuckNasty]

I'm in the camp that thinks they are a scam, though I wish I'd bought 10$ worth of bitcoin when they were .50$ back when I first heard of it in the mid 90's and I was fresh out of college.

I don’t think Bitcoin was created until the late 2000s

 

[martybauer31]

I've got some crypto, I treat it like I would a trip to Vegas... if I lose it, not the end of the world, I didn't miss a house payment, the family still has food and clothes, and we're all just fine. Trying to get rich quick with ANYTHING will usually lead to disappointment, so what I put in is purely speculation on technology and I will hope that down the road it will pay off, we'll see.....

I'm holding a little bit of everything, no NFT's as I don't understand why I should care about them at all.

 

[wubears71]

The real technology that could change the world is block chain. However, what I’ve found so far is that in an ideal world, it’s perfect for anything that requires a ledger, oversight and transaction records, I’ve discovered that companies don’t want to implement it since it goes way beyond min requirements. Paper and pencil is great if that means it satisfies requirements, but at the same time makes it difficult for anyone to point the finger at you if there is a problem.

 

[mav52]

No, don’t trust it.

 

[Tywithay]

I didn't really know what it was, but I bought $500 worth of bitcoin in early 2016 when it was around $800. Not enough to retire early, but I've done well. Decided a while ago I'm going down with the ship. I don't think I'll bow out until it reaches $100k+.

 

[Lefty Moonshot]

I've got some crypto, I treat it like I would a trip to Vegas... if I lose it, not the end of the world, I didn't miss a house payment, the family still has food and clothes, and we're all just fine. Trying to get rich quick with ANYTHING will usually lead to disappointment, so what I put in is purely speculation on technology and I will hope that down the road it will pay off, we'll see.....

I'm holding a little bit of everything, no NFT's as I don't understand why I should care about them at all.

I think thats a great outlook. I treat it about the same, except admittedly I've put more into crypto than I would be willing to lose in Vegas .. But, I dont treat it as a primary investment.

 

[pumbaa]

i heard about it in like 2015 or 2016 from a car forum i was on that had a ton of IT guys(subaru related forum). I looked into it but didnt understand much of it so never got involved. I am sure a bunch of them made some $$$$, now that I understand it and have enough scams surrounding it I don't mess with it.

 

[Dan44]

I bought $50 worth of doge at .02 cents and failed to sell when Elon Musk was on SNL so I've been holding since

 

[YukonLiving]

I didn't invest in either. I thought about it years ago, but decided against it.

 

[Vader]

I invested what I was willing to lose, pulled out my initial investment when price went up, and in for the long haul from here on out.

All in XRP, which I believe long term, will pay off.

 

[MWard]

I invested what I was willing to lose, pulled out my initial investment when price went up, and in for the long haul from here on out.

All in XRP, which I believe long term, will pay off.

Assuming the stupid lawsuit goes their way.

 

[Slowmo]

I don’t think Bitcoin was created until the late 2000s

guess it was something else along those lines. I remember something being available as a new form of currency my first year on the job (97) that started going for 50cents when introduced and was like 500$ a year later.

 

[G-Man]

I wish I could go back in time and tell my younger self to Buy in 2015, like empty the bank account forget about it thats all ... sell on Nov. 12 2022...

 

[Vader]

Assuming the stupid lawsuit goes their way.

Correct. Someone is scared, The SEC is playing some crazy games.

But the white papers are solid, and it's been real world proven to be extremely useful. Who knows.

 

[MWard]

Correct. Someone is scared, The SEC is playing some crazy games.

But the white papers are solid, and it's been real world proven to be extremely useful. Who knows.

If the SEC is doing SEC things, you’re okay. Biggest problem? Janet ******* Yellen. She has no idea what she’s doing so screw it let’s mess with crypto, that’s a good idea.

 

[checkered]

I have some, not a lot. If i lose it i lose it, but just holding for now.

I see some real potential with some of them, but there are a lot of useless ones out there that are a mess. I believe eventually those will fail off and hopefully we will have some with real utility hold on and take of down the road, but who knows.

 

[mjkladis]

I had some money in crypto but nothing of importance.
Maybe they will have more uses in the future, but right now they feel like tulips.

Standard, slow investing works for me, and if I want to invest in something just in case everything comes crashing down: bullets, cigarettes (for trade, I don't smoke), food, and water.

 

[MtlJeff]

The real technology that could change the world is block chain. However, what I’ve found so far is that in an ideal world, it’s perfect for anything that requires a ledger, oversight and transaction records, I’ve discovered that companies don’t want to implement it since it goes way beyond min requirements. Paper and pencil is great if that means it satisfies requirements, but at the same time makes it difficult for anyone to point the finger at you if there is a problem.

Doesn't the blockchain element of it require more power than the country of Argentina though? Or is there a scaled down blockchain recipe that doesn't need massive server farms?

 

[RealPretendPsychic]

If the SEC is doing SEC things, you’re okay. Biggest problem? Janet ******* Yellen. She has no idea what she’s doing so screw it let’s mess with crypto, that’s a good idea.

To paraphrase your last two lines, I probably shouldn’t invest in crypto

David ******* White. He has no idea what he’s doing so screw it let’s mess with crypto, that’s a good idea.

 

[jbb2388]

I wish I could go back in time and tell my younger self to Buy in 2015, like empty the bank account forget about it thats all ... sell on Nov. 12 2022...

Make that 2010, not 2015. I wish I could do the same.

My kind of topic. To answer the OP, I am buying and holding. Currently just bitcoin and ethereum. I bought $1K of doge when it fell below .10 as well as kind of a joke. At the very least you should consider 5% or less of a portion of your investment holdings. I also own stock in several bitcoin mining companies as well as shares of the greyscale bitcoin trust fund in my 401K and as the administrator of our 401K with Fidelity we are right now in the process of adding the investment option of a Digital Asset Account to our range of investment options in the plan which allows the participant to buy bitcoin only. It will be capped at 5% of their account. Whether or not you believe crypto is a "scheme" or not is your perogative. In my opinion, there is bitcoin, and then there is everything else. Bitcoin is the only truly decentralized cryptocurrency. It cannot be debased. It cannot be taken from you. It is not affected by the near double digit inflation currently present. More and more companies and institutions are buying it and there are only so many bitcoin to go around. Cheers all.

 

[MWard]

To paraphrase your last two lines, I probably shouldn’t invest in crypto

David ******* White. He has no idea what he’s doing so screw it let’s mess with crypto, that’s a good idea.

Make that 2010, not 2015. I wish I could do the same.

My kind of topic. To answer the OP, I am buying and holding. Currently just bitcoin and ethereum. I bought $1K of doge when it fell below .10 as well as kind of a joke. At the very least you should consider 5% or less of a portion of your investment holdings. I also own stock in several bitcoin mining companies as well as shares of the greyscale bitcoin trust fund in my 401K and as the administrator of our 401K with Fidelity we are right now in the process of adding the investment option of a Digital Asset Account to our range of investment options in the plan which allows the participant to buy bitcoin only. It will be capped at 5% of their account. Whether or not you believe crypto is a "scheme" or not is your perogative. In my opinion, there is bitcoin, and then there is everything else. Bitcoin is the only truly decentralized cryptocurrency. It cannot be debased. It cannot be taken from you. It is not affected by the near double digit inflation currently present. More and more companies and institutions are buying it and there are only so many bitcoin to go around. Cheers all.

Biggest problem with crypto I’ve seen is how brutally it can be manipulated, and anyone with common sense can see when it’s happening.

China to make crypto illegal, bam. Fire sale. Guess who is just sitting there waiting for the bottom to buy even more? Oh wait.. China