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Thread: Buying Altcoins/Bitcoins and investing in the stock market

  1. #361
    Danger is my business! oneupper's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by gonelong View Post
    Visa, Mastercard and a number of other companies are going to legitimize it. I don't see it going away, it is going to get bigger and more entrenched over time. There are a number of cryto currencies out there - and I don't own any of them. Really kicking myself in the butt for not taking the time to understand these earlier.
    With Bitcoin (and crypto in general), ignorance is bliss. If you analyze it properly, you would never invest in it. Crypto's value is the ability to transfer and hold it anonymously and that it is relatively scarce. That's kind of like gold, without the physical existence. Or perhaps like art, since there seems to be some "pride" or enjoyment of ownership also. Or maybe tulips. The main ultimate use/benefit of crypto would seem to be for criminal activity.
    It's no surprise that ransoms are now being requested in crypto. (ask Garmin).
    Pablo Escobar is probably kicking himself in the grave saying 'why wasn't this around when I was alive and in business".

    As far as being a currency...it is not. For it to be a currency, it would have to be a direct price reference to something, and particularly some government would need to allow taxes or fees to be priced by it. Now, a number of institutions and vendors "accept" it, but only by converting its value to an established currency. So you can buy stuff with Bitcoins, just like you can buy stuff with airline miles. That doesn't count.

    Crypto's popularity could end up being their undoing. Governments aren't thrilled about it. India is working on a bill to ban cryptos. Yellen sees it as a threat. Ultimately, we will have digital currencies, issued and controlled by governments. Most likely not fun at all. (and if we do...will we need banks?)

    In any case, back in 1979, I joined my Dad in buying some gold. Why? I don't remember, but Dad was always a gold and silver bug. Of course, for those who remember, late that year the Soviet Union invaded Afghanistan and gold prices exploded. We tripled our money in a few months. Had we researched Gold (production costs, uses, etc.), we would have never made that trade. Ignorance was then and still is bliss.
    For those on the rocket, enjoy the ride.
    "A person is smart. People are dumb, panicky, dangerous animals and you know it."

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  3. #362
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Verdict is in. Doug is a DA for not buying bitcoin when he started the thread.

  4. #363
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    I don't really see any rebuttal in your post there except that people are making money. People get rich in every single speculation bubble. And your daughter is genius because she was smart to sell - she will end up making out better than 99% of people who are getting into this in the last few months. I have read about people mortgaging their houses to buy in.
    God bless those who were mortgaging their houses to buy into Bitcoin on January 4, 2018 when this post was made. They are up about 267%....assuming they didn't kill themselves about a year later when they were down 80%.

    Bitcoin could be had a year ago today for less than $10k.

  5. #364
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Great use of resources:

    https://twitter.com/lohstroh/status/...170941953?s=21

    This whole thing is so stupid, sorry. Glad some folks are making a ton of money, but good grief.
    What would you say.....ya do here?

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    Dom Heffner (05-20-2021),oneupper (03-16-2021)

  7. #365
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    If you're bold, crypto is on sale this morning.

  8. #366
    Member JaxRed's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    The combo of Musk criticizing it for energy usage in mining and China (as I understand it) banning it's use in financial transactions it's been a very bad week for Crypto.

    As I've stated on here many times, I'm an income investor. I invested to supplement my SS and pension income in retirement. But I've achieved my income goals in retirement and now I have two speculative investments.

    Tesla and some Crypto. If you can afford some speculation I think now will turn out to be a good time to buy either. But most people should not be speculating. Or only with a tiny portion of their money.
    Bud Selig: "I'm the worst commissioner ever"
    Rob Manfred: "Hold my beer"

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  9. #367
    Score Early, Score Often gonelong's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    If you're bold, crypto is on sale this morning.
    I am buying a little every two weeks, so I guess I was bold this morning. :-)

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  11. #368
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Bought some Coinbase stock this week just above $200

  12. #369
    Corky is The Way Bob Sheed's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Last I checked you can get like 50$ worth of various crypto just by doing the coinbase tutorials.
    “You are not Atlas carrying the world on your shoulder. It is good to remember that the planet is carrying you.”
    ― Vandana Shiva

  13. #370
    Potential Lunch Winner Dom Heffner's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    If, if, if, if....pretty much Boston Red's thesis here.

    You can make money, which is weird that you would want money considering bitcoin so valuable lol

    Reason #456783 this country is a joke.

  14. #371
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Bitcoin is down about 50% from its high. On sale, or just falling like a rock? Who's reaching up and trying to catch this falling knife?

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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by RedTeamGo! View Post
    I bought a weed stonk, $SNDL, at $1.05 last week and it’s at $3.50 today and climbing. Diamond hands friends.
    91 cents. Hope you sold!

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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Raisor View Post
    I just bought a $100.00 worth of bitcoin. Going to retire in a week.
    It's $200 now. Not too shabby. Certainly better when it was over $400, though!

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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by WrongVerb View Post
    How's that volatility working out for you there?
    Quote Originally Posted by Boston Red View Post
    We'll see.
    Really well, thanks.

  18. #375
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    This thread is always reassuring on days like today where we have "massive" selloffs.

    From the date this thread started (11/24/17) until today:

    BTC - From $8,795.50 to $43,805.70, up 398.0%

    AMZN - From $1186.00 to $3355.73, up 182.9%

    FB - From $182.78 to $355.70, up 94.6%

    From last time we checked in (1/20/21)

    BTC - From $34,973.20 to $43,805.70, up 25.3%

    AMZN - From $3272.77 to $3355.73, up 2.5%

    FB - From $269.80 to $355.70, up 31.8%


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