Crypto

Went to try to find and bump Quick Releases thread from like 7 years ago when he was telling everyone to buy bitcoin when it was around $600 and we mostly laughed at him but couldnt find the thread. Hope he's on an island somewhere laughing at how wrong we were and how right he was.

In any event, with it dominating the headlines thought it was worth starting a new thread on. What's everyone thoughts? Anyone bullish on any ones aside from BTC and ETH?

Glad for anyone who bought in early. I distinctly recall it being under 50-cents thinking I should take a flyer and drop $1,000 into the abyss. Too many articles at the time about unsafe sites, crypto-theft and unreliable trading platforms so I stayed away. Holy smoke what a ride for those not pussy.

Is it time to "Short! Short! Short!" a la GameStop? *sarcasm*

Glad for anyone who bought in early. I distinctly recall it being under 50-cents thinking I should take a flyer and drop $1,000 into the abyss. Too many articles at the time about unsafe sites, crypto-theft and unreliable trading platforms so I stayed away. Holy smoke what a ride for those not pussy.

Yea, insane to think about anyone who held on for the long haul, but I think most who bought it for that cheap had cashed out at a certain point but now are back in

Agree. If you hit some of the plateaus like the first "1,000" or ten thousand or definitely by twenty thousand you likely creamed your jeans and cashed out. The dips were attractive enough to get on the roller coaster again. At $50K, I think that I missed the boat even if it goes to $100K from here.

"Bitcoin topped $50,000 for the first time Tuesday, doubling in value in less than two months.

The digital currency traded as high as $50,584.84, up about 5% for the day and more than 74% for the year, according to CoinDesk. The total market value of bitcoin in circulation rose to $940 billion. Bitcoin later receded from its high, recently trading near $48,962.

The $50,000 level is an “emotional level for people in the space,” said Brian Melville, head of strategy at trading firm Cumberland. But it is also a simple result of supply and demand, he added.

From August through December, about 150,000 new bitcoins were minted, he estimated. The firm calculated that about 359,000 bitcoins were bought in the same period, and that imbalance has continued in 2021. “It’s a really important metric to watch,” he added."

https://www.wsj.com/articles/bitcoin-trades-above-50-000-for-first-time-11613479752?mod=hp_lead_pos1

Went to try to find and bump Quick Releases thread from like 7 years ago when he was telling everyone to buy bitcoin when it was around $600 and we mostly laughed at him but couldnt find the thread. Hope he's on an island somewhere laughing at how wrong we were and how right he was.

 

In any event, with it dominating the headlines thought it was worth starting a new thread on. What's everyone thoughts? Anyone bullish on any ones aside from BTC and ETH?

It's mostly been doing well lately, but I have a tendency to get involved at the height and lose money during an inevitable big dip. I'm very cautiously optimistic about the market because I feel the valuable coins/applications are finally being separated from the shitcoins. Also, institutional money getting involved is a huge boon.

I know such a tiny amount about the market, and there's a lot of bad advice out there. I mostly made my purchases based on advice from people I trust, but I fully expect to lose all of my money. It's just a small fraction of my investments, really, as it should be for most sensible people.

Outside of ETH, I have some money involved in ZRX, LINK, SNX, and XLM.

 

It's mostly been doing well lately, but I have a tendency to get involved at the height and lose money during an inevitable big dip. I'm very cautiously optimistic about the market because I feel the valuable coins/applications are finally being separated from the shitcoins. Also, institutional money getting involved is a huge boon.

 

I know such a tiny amount about the market, and there's a lot of bad advice out there. I mostly made my purchases based on advice from people I trust, but I fully expect to lose all of my money. It's just a small fraction of my investments, really, as it should be for most sensible people.

Agree, it's beyond my understanding and I don't have time to do the research. I don't even know what crypto is backed by, wtf does it mean to "mine it", etc. I'll stick to more traditional investments like mutual funds, 401k, real estate, etc.

Agree, it's beyond my understanding and I don't have time to do the research. I don't even know what crypto is backed by, wtf does it mean to "mine it", etc. I'll stick to more traditional investments like mutual funds, 401k, real estate, etc.

It's definitely smart to stick with what you mention. I'm involved in all of that too. But I decided to take on some risk and see where it takes me.

I bought doge a while back as a joke mostly. I was skeptical it would ever go up but had a friend who kept saying to invest in crypto. I think I put $3 into it total a year or so ago. It was up to $40 or so the other day lmao

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I don't pretend to know much either, I take most of my advice from one of my twitter buddies who's been invested for a long time and seems to always be accurate in his predictions. Don't really do much aside from BTC or ETH because i feel like the Altcoins are just pure gambles

For sure. It's all one giant gamble really, but there's more to point to with things like ETH and BTC. I'm probably under invested in ETH considering the rest of my portfolio, so I'll probably look to rectify that in the near future.

Outside of ETH, I have some money involved in ZRX, LINK, SNX, and XLM.

 

It's mostly been doing well lately, but I have a tendency to get involved at the height and lose money during an inevitable big dip. I'm very cautiously optimistic about the market because I feel the valuable coins/applications are finally being separated from the shitcoins. Also, institutional money getting involved is a huge boon.

 

I know such a tiny amount about the market, and there's a lot of bad advice out there. I mostly made my purchases based on advice from people I trust, but I fully expect to lose all of my money. It's just a small fraction of my investments, really, as it should be for most sensible people.

that's me too. Bought, lost half of it, got out

I've had Cardano (ADA) since about 0.12 so that's going really well. I kind of bought it blind though at the recommendation of a friend, so I couldn't tell you why it's a good buy or not. But I've seen a lot of people say they're a good crypto.

I see

I see

Hey keep politics out of this!

I threw some money at Dogecoin kind of as a joke when it was hitting 1 cent. Its over 5 cents currently. It's gone as high as approaching 9 cents. I throw a few cents here and there from my robinhood account (like if after a trade I have leftover cents in my account I just bring my remaining balance to an even number)

Not farfetched to think one day it hits a dollar. and in that case, I get to renovate my kitchen.

I hate doge coin i think it damages the reputation of crypto

Agreed... but LOL memes

I hate doge coin i think it damages the reputation of crypto

Yea I don’t think anyone takes it seriously but that doesn’t mean there isn’t a chance it spikes at some point. It already did once. If I make $500 on a $3 joke I’ll be thrilled lol

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I mean, if anything though it has brought more people into Crypto. Probably for a lot of people, myself included, Dogecoin was their first ever crypto purchase. Wouldn't be surprised if a significant amount of people who started with doge end up getting into other more established cryptocurrencies, thereby probably driving those prices higher.

I've had several people explain cryptos to me and I just for the life of me can never really understand it. So I'm just gonna hold my Dogecoins for a while and see what happens. worst case scenario i lose a couple hundred bucks in a few years

I feel like all you need to know about crypto is setting up an account, funding it, and purchasing it takes all of 5 minutes, while setting up a trading account takes a bit, then 2 days to add funds, then another few days for money to actually clear. Thats the power of blockchain, it's such an improvement on the standard methods

I recently moved my holdings from Coinbase to Gemini so I could start earning interest and the transfer process was as easy as scanning a QR code, it was incredible

I feel like all you need to know about crypto is setting up an account, funding it, and purchasing it takes all of 5 minutes, while setting up a trading account takes a bit, then 2 days to add funds, then another few days for money to actually clear. Thats the power of blockchain, it's such an improvement on the standard methods

 

I recently moved my holdings from Coinbase to Gemini so I could start earning interest and the transfer process was as easy as scanning a QR code, it was incredible

The caveat though is sometimes the assets take a while to get into your account - and it's just there in the void with seemingly no recourse. Here's an example from the other day: I purchased Ethereum on Coinbase and wanted to move it to my Coinbase Wallet to purchase some coins not available on Coinbase. Transferring that ETH took 15 minutes. All I had was a confirmation in the wallet the transfer took place. Then, when I went to use that ETH to trade for another coin on Matcha, there was another 15 minute period where I had a confirmation of a trade, but there was nothing in my account. It just took a while to make its way through the blockchain.

It's not like there's some support team I can contact to get me back my Ethereum if, for some reason, that money never makes its way to my account.

That's not to mention the fees and volatility associated with making trades - just doing that transaction I lost $50.

The caveat though is sometimes the assets take a while to get into your account - and it's just there in the void with seemingly no recourse. Here's an example from the other day: I purchased Ethereum on Coinbase and wanted to move it to my Coinbase Wallet to purchase some coins not available on Coinbase. Transferring that ETH took 15 minutes. All I had was a confirmation in the wallet the transfer took place. Then, when I went to use that ETH to trade for another coin on Matcha, there was another 15 minute period where I had a confirmation of a trade, but there was nothing in my account. It just took a while to make its way through the blockchain.

 

It's not like there's some support team I can contact to get me back my Ethereum if, for some reason, that money never makes its way to my account.

 

That's not to mention the fees and volatility associated with making trades - just doing that transaction I lost $50.

Yea, that 15 min is such a stressful period lol