Bitcoin anyone? Crypto?

[moosensquirrel]

I can't eat, shoot, or smoke gold.

Who is going to eat it?

 

[moosensquirrel]

Usually a broker gets the cash. And when you're ready to cash out, you sell your crypto currency back to the brokerage. Similar to stocks. There are quite a few crypto brokers that operate like that. And yes, you read that right, $10500 USD for a single bitcoin right now. It fluctuates a lot too. It can be up to $12k per bitcoin tomorrow, then back down to $9k in a day. Very volatile and risky. At one point it peaked at around $19891 before plummeting back down to under $4k. Lot's of people lost their asses on that, but it's been steady around $10-12k recently.

Regardless, when one converts to cash, it is still fiat USD and will eventually go to zero inherent value.

 

[Trailrider]

Regardless, when one converts to cash, it is still fiat USD and will eventually go to zero inherent value.

You post this in literally every thread where someone asks about investing. Blah blah fiat currency blah blah.

 

[Trailrider]

As for Crypto:

Bitcoin is dead. Very dead. The fact that it's being discussed here is proof of that. (No offense guys, but the adage "if you're not in the industry and you've heard of it, it's mainstream.")

If you honestly really truely want to get into crypto, start small. There are a few coins that are well under a dollar a unit that you could buy with some pocket money(~20 bucks), and just stash. If nothing becomes of it, who cares, if it does have a rise, nice. Sell when you're comfortable and for Gods sakes do not get greedy.

There is a very good reason greed is considered an original sin. It is the downfall of man. It will bite you in the ass. Enough people got bit (Pun not intended) by bitconnect and by thinking that they could hop in on the bitcoin wave only to lose half their money. If it sounds too good to be true, it 100% is. A small profit is better than a huge loss. Pay attention, but don't react violently to every market move.

Basically, it's gambling. Spend what you can afford. Consider the money gone after you put it out in the market.

Gosh these posts aged so well

 

[Realtor]

As for Crypto:

Bitcoin is dead. Very dead. The fact that it's being discussed here is proof of that. (No offense guys, but the adage "if you're not in the industry and you've heard of it, it's mainstream.")

If you honestly really truely want to get into crypto, start small. There are a few coins that are well under a dollar a unit that you could buy with some pocket money(~20 bucks), and just stash. If nothing becomes of it, who cares, if it does have a rise, nice. Sell when you're comfortable and for Gods sakes do not get greedy.

There is a very good reason greed is considered an original sin. It is the downfall of man. It will bite you in the ass. Enough people got bit (Pun not intended) by bitconnect and by thinking that they could hop in on the bitcoin wave only to lose half their money. If it sounds too good to be true, it 100% is. A small profit is better than a huge loss. Pay attention, but don't react violently to every market move.

Basically, it's gambling. Spend what you can afford. Consider the money gone after you put it out in the market.

LMAO

 

[TresMonos]

If Bitcoin is dead then why does this guy worry so much about recovering his? He should just destroy his encrypted drive.....right?

https://www.techspot.com/news/88290-programmer-has-two-password-guesses-left-save-240.html

Then again, he wouldn't have $240,000,000, would he?

 

[Sweetsoulbro]

Gosh these posts aged so well

OOf I know. I seriously couldn't have predicted what the hell happened in the last year lol

 

[Trailrider]

OOf I know. I seriously couldn't have predicted what the hell happened in the last year lol

Ain't that the truth! I could say that about so many things in the markets and crypto.

 

[Outlier]

I've got my bags packed as they say. I'm ready for this lull to be over so we can start to see some things pop off.

 

[3PuttJon]

I am new to crypto currency. I’ve spent the last few weeks investing my time into understanding Bitcoin, it’s patterns and the Alternative coin market, like ethereum and litecoin. (Both can be bought on PayPal). Anyhow, I’ve completely changed my mind on this currency and I truly believe it IS the future unfortunately.