Cryptocurrency

[AUMicBK 124]

Any AUF members dabble in crypto?  I started back in October and have slowly been adding on as I can.  If you do, are you a BTC maximalist, or do you invest in others too?  

[McLoofus 35,182]

Dabble would be the word. Very insignificant amount, all BTC. I initially seeded to buy something with crypto and then kinda forgot about it. I pay closer attention now, lol. Waiting for another big drop and then I'll put more serious funds into it. Certainly wish I'd taken it more seriously sooner!

[AUMicBK 124]

3 hours ago, McLoofus said:

 Certainly wish I'd taken it more seriously sooner!

very much likewise.  I'm mostly in Ethereum, with several small alt-coin holdings.  I am waiting on a big dip for BTC as well, but fearing we're not going to see the prices we'll like anymore.  

[CoffeeTiger 5,108]

On 1/14/2021 at 8:02 AM, McLoofus said:

Dabble would be the word. Very insignificant amount, all BTC. I initially seeded to buy something with crypto and then kinda forgot about it. I pay closer attention now, lol. Waiting for another big drop and then I'll put more serious funds into it. Certainly wish I'd taken it more seriously sooner!

Yep, it's one of those things where hindsight really is 20/20. Almost nobody who actually cared about their own money thought Bitcoin was going anywhere 10+ years ago. 

 

I'm just glad I'm not one of those poor people who had a hoard of Bitcoin back when it was worthless and forgot their access passwords. Imagine knowing you'd be a millionaire if you hadn't of lost your bitcoin password. 

[AUMicBK 124]

ha yeah i'm kind of glad to be new to it and actually have to do my research because I undoubtedly would've been one to panic sell back at that time.  

[McLoofus 35,182]

Y'all think this is a big dip? Or will it go down some more? The volatility is fascinating.

 

[AUMicBK 124]

I believe it will go down more, maybe even alot more, before taking off again, this time to more insane numbers.

[McLoofus 35,182]

14 hours ago, AUMicBK said:

I believe it will go down more, maybe even alot more, before taking off again, this time to more insane numbers.

Good call!

[AUMicBK 124]

just getting started really...i could see it going back down to $20k-22k.  but then it's going to start a steep incline...even the "moderate" reports are saying to $60-100k.  I have almost no BTC so the dip is only a good thing (to buy more) but I am heavier in on ETH so I need that to meet expectations lol.

[McLoofus 35,182]

30 minutes ago, AUMicBK said:

just getting started really...i could see it going back down to $20k-22k.  but then it's going to start a steep incline...even the "moderate" reports are saying to $60-100k.  I have almost no BTC so the dip is only a good thing (to buy more) but I am heavier in on ETH so I need that to meet expectations lol.

Same here on BTC. Literally playing with house money because I've already spent more than I initially seeded with. So I'm very much hoping for that big dip.

[abw0004 10,112]

We don't have any of our clients invest in virtual currency.  Right now it is a big unknown in how the government will handle it.  A big reason is at any time the plug can be pulled and you can lose everything in a moments notice with no way of getting it back.  I would say if you do invest in virtual currency, use money that you would be okay with losing.  Kind of like money you bring with you to a casino, you know there is a good chance you walk out without that money.

[abw0004 10,112]

On 1/28/2021 at 10:48 AM, abw0004 said:

We don't have any of our clients invest in virtual currency.  Right now it is a big unknown in how the government will handle it.  A big reason is at any time the plug can be pulled and you can lose everything in a moments notice with no way of getting it back.  I would say if you do invest in virtual currency, use money that you would be okay with losing.  Kind of like money you bring with you to a casino, you know there is a good chance you walk out without that money.

Bump.  Looks like my warning came true with FTX.  It is just too unregulated to invest seriously.

[Mikey 16,587]

Some guru once said "Never invest in something you don't understand". Thus, I never invested in virtual money.

[SaturdayGT 719]

I have a little bit in Ethereum and a little in something called Polyswarm (NCT).  NCT seems really functional for a Crypto...Its cyber security type coin that supposedly will play a big roll in Web 3.0.  You can currently mine coins by searching the web. I guess when its enabled, it finds what ever might be questionable and flags it somehow...not completely sure really...its a tech well beyond my my level of techyness. ...It already has some big name customers....microsoft, Ebay, Verizon..etc.....Here is a little more on it if anyone is intrested

 

https://polyswarm.io/