Any Bitcoin or crypto currency?s investors

[49er12]

Look is this investment for suckers, or is it legitimate opportunity. Money of the future or is this monopoly currency. The process lengthy, buy a wallet, anyhow I?m a dummy here. Anyone care to share there opinions let i5 rip, I want to learn.

 

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[CreakyDigger]

We bought a little early on of three different cryptos. This was about five years ago. It was not a lot, I think we were up to about 3/4 of a BTC, less on the minor ones. Sold most of it off two years later to take advantage of a buying opportunity for our business. We made about $6K on the sale. Had to pay taxes on the gain. But, we made money. If we had not sold and still had it we would have made a lot more. But, we made many thousands on what we bought with the profit - inventory for our business.

 

[Clad2Silver]

I have no knowledge of Bitcoin or any of the other cryptocurrencies so I won't spend a dime on any of them. Maybe they're legit and some people have made money with them but I'm wary of them.
Like anything else there are two sides to this issue........some say they're good and others say they're going to do a crash and burn eventually.

 

[CoinFetcher]

Bitcoin is very vey easy to invest into.
Go to Coinbase . Com and create an account. Easy to invest $1 through $10000000

It would not hurt for all of you to go buy a little bit of
Bitcoin.

 

[CoinFetcher]

Oh, here’s part of the deal:

The mainstream media is evil. They are denouncing Bitcoin, and lying about it function, it’s creation, how it is powered, basically, the media is mixing up huuuge amount of fear, and doubt.

The nuts of and bolts of Bitcoin, and other crypto currency is this: This currency (money) keeps a ledger of everyone’s holdings. Sounds a little weird right?? What this means is, no amount can be spent or transferred without EVERY SINGLE BITCOIN LEDGER agreeing. This means the supply limit is tightly controlled, and they cannot be transferred without password and wallet ID of the person holding coins.

That said, the mechanic (nuts and bolts) are VERY easy to understand. Easy because we already know how banks work generally. And Bitcoin is just a big bank, and I truly believe it will be the future of money and worth many gallons of milk per Bitcoin. (I didn’t use dollars because I expect the dollar to go to zero eventually) <—- everything except our shiny will go to zero and we know that

 

[49er12]

One thing for sure government dont want any crypto currency’s, for reasons you can imagine. Have you ever seen just so much waste and fat. It’s in District of Columbia. Many there want to dictate others lives, boy of the federal reserve don’t want this either, they have no action. Oh well. They moan how much it cost to make coins. What’s new they r cancer. This is not political this is the truth, you control very little. I ask this question because I own none and wanted to be educated, thanks

 

[FreeBirdTim]

I've bought and sold Bitcoin and Ethereum through my Paypal account. Made some money on it, but the Paypal fees suck up a lot of the potential profit. I personally wouldn't touch any cryptos right now. Too much resistance from China and other countries who are either trying to ban it or heavily regulate it.

 

[CoinFetcher]

I wish I would’ve created my account with Robinhood to begin with. You have a little less control over your cryptocurrency wallet, but there are very little transaction fees. Coinbase has about a 3% off the top deal.

 

[Older The Better]

I dabble in Robinhood, the way I see it I don’t put in any more than I’m willing to lose, crypto has been beat up lately and has quite a bit negativity around it. I sold most around Elon being on snl and I’m still a little weary of getting back in but I’ve started to put a small amount back in so I can average down with it. I’d say as long as I’ve been following it’s all very volatile and sensitive to anything Elon tweets about it… I guess my advice would be treat it like you would a bet on a football game or a weekend in Vegas. There is money to be made, but I wouldn’t feel comfortable betting my future on it

 

[Treasure_Hunter]

I play around with it in small amounts, sometimes instead of going to bar to eat wings and a beer I will cook wings in air fryer and drink beer at home, take the $15-$20 I was going to spend at wing house and invest in crypto, money would have been spent anyway, so far haven't lost any money and it's money I would have spent anyway. I can sit home watch bar rescue and get some new drink recipes too.

 

[1320]

The crypto xrp (Ripple) to some degree behaves like money of the future already. It can be used to transfer/convert different currencies from one corner of the world to the other, e.g., send Mexican Pesos to someone in Japan and the recipient receives Yen, in a matter of seconds at a fraction of the cost that a traditional money service (Western Union) would charge. Technically, xrp is not a currency, it is a utility crypto. Most of the newer cryptos are of the utility type, in my opinion, these are the least risky to buy and have the most potential for profits. I view all cryptos as investments, of all of my current holdings, I would never use any of them to buy a physical product.

Just a few years ago, most if not all of the big banks and corporations were publicly stating that cryptos are bad and they would never touch them. Fast forward to today, most if not all of those same companies are heavily invested in crypto. Same with most big Governments, most of them are now exploring their own digital currency, including the USA.

Some of the exchanges that offer crypto will also let you loan your assets back to the exchange risk free. You will earn interest in the form of free coins daily or every 30 days depending on which program you sign up for. I've seen interest rates from 4 percent up to 90 percent. This very well may replace the traditional savings account that earns little to no interest.

It's hard to talk about crypto without discussing the underlying tech......blockchains. Cryptos will rise and fall, come and go but blockchains are here to stay. The future is staring us in the face much like the internet and dotcom days. In crypto circles, it is often stated that 1 percent or less of the world population has actually invested in crypto, if that is true, there are bucket loads of money to be made going forward.

 

[1320]

I play around with it in small amounts, instead of going ty o bar to eat wings and a beer I will cook wings in Air dryer and drink beer at home, take the $15-$20 I was going to spend at wing house and invest in crypto, money would gave been spent anyway. So far haven't lost any money and it's money I would have spent anyway.

Robbing Peter to pay Paul! Excellent strategy. And x2 on air fried wings, the air fryer changed my eating habits and is saving me a lot of money.

 

[1320]

I failed to touch on the wallet part of the OPs question. I keep all of my crypto on the exchanges, never opened up a private wallet. This isn't as risky as it once was, the top Exchanges have excellent security.

 

[Treasure_Hunter]

Robbing Peter to pay Paul! Excellent strategy. And x2 on air fried wings, the air fryer changed my eating habits and is saving me a lot of money.

Loving my Foodi, I air fry something almost every day, hash browns and sausages patties for breakfast, wings, pork chops, ribs too. Tnmountains turned me on to grilled okra, been cooking them in my Foodi, sprayed with olive oil grilled and sprinkled with sea salt after grilled. I have okra plants in garden I harvest every other day, harvest collards once week and cook them in pressure cooker with ham hocks..

I have 2 Ninja Foodis, one is 6 function, one is 5 with grill, between the 2 units I can air fry, bake, broil, roast, steam, grill, pressure cook and saute.


I'm just investing a little at a time in crypto what I would have spent somewhere else with no return or potential.

 

[Peyton Manning]

It’s like the emperors new clothes to me

 

[MarshallRebecca]

Bitcoin is so unstable (like any other cryptocurrency) that investing in it is mostly depends on luck, and not on the strategy which you implemented. But there are plenty of guides and tutorials online if you want to open a wallet. Anyway, I'm still more into fiat forex trading because it seems much more profitable atm. But there's sometimes a problem with understanding the market, so I frequently use the fbs broker services to understand what I have to do. I honestly thought that I could trade without any experts, but the reality showed me that I have to contact professionals.

 

[bc5391]

Any trading (I would not call it investing) weather it is crypto, stocks, futures or forex, is a risk. With any trading you better know when to exit, I've made and lost money with each, did the best with day trading, you see the problem is not while you are awake and can exit, but when you sleep and those sneaky people across the ocean, come up with a reason to make the markets change direction. if you are long (buying) then they devalue something or start a war and if you were smart enough to put in a stop then you are deep in the hole, same if you were short. Always use stops, but that is the problem with buying crypto, places like coinbase do not have a "Trading platform" so all you can do is "Buy" and hope things work out, you cannot put in stops, The markets tumbled twice this year, May and Sept, the latest tumble was because of a Chinese company going broke. I got out after being in a few days and made a couple of bucks, but that was not the case in the year 2000, I was in over the new year and was behind $30k in gold Futures when the markets reopened. Brokers worked slow back then, I was lucky when the smoke cleared, I was only out $5k. Then came 9/1/11, I was still trading gold futures and had my finger on the trigger when I heard the news, I made no trade, but if I did I would have more than made up for the loss in 2000.

So bottom line if you do not have money you are willing to loose, do not buy crypto, it is based on nothing. No country in the world has gold/Silver or any other metal to back it up, countries like Argentina who decided to make it their currency are not doing their people any justice, imaging going to bed with $10,000 in your bank account and waking up to only have $3000. Then again the USA has no gold backing up its currency, we are what is known as a fiat currency, a currency that has no value , the US mint will keep printing worthless paper money whenever Congress tells them, but it is worth more than crypto.

 

[crashbandicoot]

Fried okra!Yum Yum!!!!

 

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[davest]

I don't have a dog in this hunt but I see China has decided to make b.c. an illegal currency. What happens now?