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Anyone here into cryptocurrency investment?

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  • #21
    Originally posted by Mike D View Post

    Yeah no doubt. I mean imagine just having...let's say 10 bitcoins. And they were all bought at $200. And then you kept them all the way up until bitcoin hit 10K. You would've turned your initial $2K investment into $100K. Pretty much anyone would've been ecstatic turning 2K into a profit of ninety-eight thousand dollars.

    However if you kept those 10 bitcoins all the way up until now, those 10 bitcoins would now be worth a staggering $600K.

    It's just really mind boggling to think about.

    I wonder how many people had a lot of bitcoin during its infancy -- back when it was worth pennies. And then sold them all when bitcoin hit like $50 a piece and thinking they hit the jackpot for turning nothing into 10 grand or so. But fast forward to today and a couple hundred bitcoin would be worth upwards of 12 million dollars...
    Read this story on Quora recently:

    https://qr.ae/pGTwLn

    I visited Silicon Valley back in 2012. I was raising money for my start up. My wife and I lived in a start up incubator, and this dude told me about this thing called Bitcoin. It was trading at $10 back then, and I was hooked. I majored in economic history in undergrad, so I can kind of see how this thing can shoot past $1,000.

    I raised a few hundred thousand on that trip. I told my wife that I was thinking about sinking $10,000 into this new investment. My wife said it was a stupid idea wasting money on this video game currency, and how Korean teenagers wasted money on useless cyber commodities. In the back of my head I thought this was a little too good to be true, so I didn’t buy in.

    In 2013, I was going back to Silicon Valley to raise our A round. When I was at the airport, Bernanke said something about Bitcoin can potentially be a legitimate currency at a congressional testimony, and Bitcoin price shot past $1,000. I was tempted again. My wife gave me another talk on conserving capital for our start up. She was looking at me disappointedly behind those large glasses… so I didn’t buy in again.

    In 2017… You get the idea. Don’t get investment advice from your wife.

    I did a rough estimate: My wife’s cost me more than 20X of all the money I’ve made in my life so far. But you know what, marrying her was still the best idea in my life. She bought me far more joy than those money. I just have to keep telling myself this.

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    • #22
      I went into Crypto both feet flying. My reasons are simple. People are going to demand a decentralized currency. It is necessary for the speed at which we want transactions to process at. Computers are moving towards a technology based on Quatum Physics. this means much greater speeds, and much greater security. The governments, the big banks, the status quo... would destroy crypto in a minute if they could. And usually with a new technology that threatens the status quo there is a person, a group that is accissible. But it is not really even established who invented crypto and... it works on the principle of consensus. Nobody can be singled out and destroyed.

      The power structure is concerned about consensus. People have learned they can create change with their money in large groups, such as with Go Fund Me... Crypto is similar, and can be done (Etherium) so it is decentralized.

      I believe Crypto is inevitable.

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      • #23
        Originally posted by Citizen Koba View Post

        Read this story on Quora recently:

        I visited Silicon Valley back in 2012. I was raising money for my start up. My wife and I lived in a start up incubator, and this dude told me about this thing called Bitcoin. It was trading at $10 back then, and I was hooked. I majored in economic history in undergrad, so I can kind of see how this thing can shoot past $1,000.

        I raised a few hundred thousand on that trip. I told my wife that I was thinking about sinking $10,000 into this new investment. My wife said it was a stupid idea wasting money on this video game currency, and how Korean teenagers wasted money on useless cyber commodities. In the back of my head I thought this was a little too good to be true, so I didn’t buy in.

        In 2013, I was going back to Silicon Valley to raise our A round. When I was at the airport, Bernanke said something about Bitcoin can potentially be a legitimate currency at a congressional testimony, and Bitcoin price shot past $1,000. I was tempted again. My wife gave me another talk on conserving capital for our start up. She was looking at me disappointedly behind those large glasses… so I didn’t buy in again.

        In 2017… You get the idea. Don’t get investment advice from your wife.

        I did a rough estimate: My wife’s cost me more than 20X of all the money I’ve made in my life so far. But you know what, marrying her was still the best idea in my life. She bought me far more joy than those money. I just have to keep telling myself this.



        Lol damn....

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        • #24
          Originally posted by billeau2 View Post
          I went into Crypto both feet flying. My reasons are simple. People are going to demand a decentralized currency. It is necessary for the speed at which we want transactions to process at. Computers are moving towards a technology based on Quatum Physics. this means much greater speeds, and much greater security. The governments, the big banks, the status quo... would destroy crypto in a minute if they could. And usually with a new technology that threatens the status quo there is a person, a group that is accissible. But it is not really even established who invented crypto and... it works on the principle of consensus. Nobody can be singled out and destroyed.

          The power structure is concerned about consensus. People have learned they can create change with their money in large groups, such as with Go Fund Me... Crypto is similar, and can be done (Etherium) so it is decentralized.

          I believe Crypto is inevitable.
          Yeah similar reasons for me... ain't blind to the money to be made trading it as a speculative asset - of course - but it's the underlying principle of having a decentralised and theoretically democratised means of conducting tranactions that really appeals - the principle behind the thing. Course as long as blockchains are being treated as speculative assets their real world usage applications are kinda compromised by their very volatility but in time I'm expecting 'em to become the principle way in which we conduct trade, share information and so on... don't want to expound too much on my envsioned future but it links in to the idea of mankind moving towards living in smaller largely automonous and self-sufficient communities with cities being more like meeting places than permanent living spaces. Anyway.. I digress... I'm sure you get the idea. I'm pretty big on this whole decentralisation thing - also a supporter of stuff like alternative economies - timeshares and local barter economies, as well as being big on the free and open source software and information movements
          billeau2 likes this.

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          • #25
            I do

            ive been holding ADA since it was 17 cents, now it’s $1.25 roughly

            I’m also holding BTC, Polkadot and ETH

            There’s definitely a lot of research to be done in terms of crypto, especially when it comes to alt coins, Defi etc. It’s a bit of a rabbit hole.

            Comment


            • #26
              Originally posted by deathofaclown View Post
              I do

              ive been holding ADA since it was 17 cents, now it’s $1.25 roughly

              I’m also holding BTC, Polkadot and ETH

              There’s definitely a lot of research to be done in terms of crypto, especially when it comes to alt coins, Defi etc. It’s a bit of a rabbit hole.
              Isn’t ADA a competitor of ETH?

              hedging your investment!

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              • #27
                Originally posted by abracada View Post

                Isn’t ADA a competitor of ETH?

                hedging your investment!
                It is somewhat, but it’s not like ADA’s huge gains over the last couple of months has caused an equal downturn in ETH value anyway. if I see a coin I think has some growth potential, I’ll likely convert my ETH to that. I keep my BTC pretty much untouched, unless It’s time to sell off gains from an alt coin, then I invest it back into BTC.

                I still think it’s worth holding both for now. I have much more ADA than ETH anyway.

                ive almost x10 my money with ADA , and I still believe it has more growth potential.

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                • #28
                  Originally posted by deathofaclown View Post

                  It is somewhat, but it’s not like ADA’s huge gains over the last couple of months has caused an equal downturn in ETH value anyway. if I see a coin I think has some growth potential, I’ll likely convert my ETH to that. I keep my BTC pretty much untouched, unless It’s time to sell off gains from an alt coin, then I invest it back into BTC.

                  I still think it’s worth holding both for now. I have much more ADA than ETH anyway.

                  ive almost x10 my money with ADA , and I still believe it has more growth potential.
                  for me I feel it is too late for the btc train other than short term investing, so far after a couple months I have done much better with lower cap alt coins that have utility.

                  Though keep in mind coinbase is getting its IPO on Wednesday so that should be great for the overall healthy of the market so whatever you do I would think you'd want to do it tomorrow and then see what things look like after Wednesday.

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                  • #29
                    My friend keeps trying to get me to help him with his TRX gambling dapps and all this NFT stuff but I am just too ****ing stupid to grasp it all.

                    That and I don't have the time to figure it out...

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                    • #30
                      Originally posted by Spray_resistant View Post

                      for me I feel it is too late for the btc train other than short term investing, so far after a couple months I have done much better with lower cap alt coins that have utility.

                      Though keep in mind coinbase is getting its IPO on Wednesday so that should be great for the overall healthy of the market so whatever you do I would think you'd want to do it tomorrow and then see what things look like after Wednesday.
                      The problem is people have been saying it’s too late for years and years for BTC and it keeps going up when you take it over a period of years.

                      the real question is will BTC be worth
                      more in 5-10 years than today? Many people believe so, which is why i
                      still don’t believe it’s a bad investment in terms of putting gains from more volatile coins into it.

                      that said, I don’t tend to really put too much time into my crypto portfolio now. I invested a while ago a bit of spare money and it’s far far bigger than it was when I started, so unless the whole market crashes badly, I’m in good profit and it’s not money i miss having, so I basically just leave it alone and see what happens, sometimes I take some profits if it seems a good time.

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