Anybody invested in Crypto?

Morgan3820

Morgan3820

Ejection Handle Pulled
Joined
Jun 29, 2013
Messages
4,787
Location
New Bern, NC
Display Name
Display name:
El Conquistador
I am not sophisticated enough of an investor to have put any money in this.
I wonder if there is any larger issues with this?
 
I know a guy who made millions in crypto. And kept them. It wasn’t me, and I don’t know the details of what he did.

Its a little too volatile for my taste, and I’ll leave it at that.
 
In theory, a government backing up your monetary system is preferable to... not having that. That said, the dollar is 95% crypto anyway.
 
I'm so pleased to see the onset of crypto winter. In my opinion it's largely a huge speculation bubble with the ****ty side effect of making it easier to ransom people and corporations more easy than it has ever been in the history of the world.

With any luck, it'll never become crypto spring.
 
Why, yes, I started dabbling in it just recently. Like, four weeks ago. :mad:

Who knew the skeptical selection in my diversified crypto portfolio (DOGE) would be the least pho-cky dabble.
 
I've bought a little Bitcoin here and there. I cashed out when I was up a little. Then bought more on a recent dip. But, now I'm down about 30%, not including the earlier position. Only bought it to satisfy my curiosity. Its just enough to make me want to keep up with the crypto market news. And, its cheaper than losing at Blackjack in Vegas.
 
catmandu said:
Why, yes, I started dabbling in it just recently. Like, four weeks ago. :mad:

Who knew the skeptical selection in my diversified crypto portfolio (DOGE) would be the least pho-cky dabble.
Click to expand...

I've avoided Dogecoin purely on the advice of it's creator.
 
Bitcoin has been very good for me. The current down trend will rebound. I wouldn’t bet my life’s savings on it but this cycle isn’t unprecedented.
 
I threw a small sum into crypto a few years ago. It tripled at the peak, then started down and I eventually cashed out at a reasonable gain. Had I held onto it, I would be at a loss. I think the best speculative gain days are gone and I have no plans to dive back in anytime soon.
 
Last edited:
I wouldn't call crypto an investment. Like gold, it has no internal rate of return. It's value is only what someone else is willing to pay for it.

The proper question would be, "Anybody speculating in crypto?"
 
One of my relatives started a coin with friends as a joke. Ended up making enough to buy a brand new SUV.
 
Because I teach CS, I have a section on blockchain as a technology, not as crypto. So in the interest of research for my teaching, I have 0.05 Bitcoin.
 
I got into Bitcoin mining in late 2012/early 2013. From there I made many many thousands of percent return. I actually made better money importing ASIC miners than on Bitcoin itself.

Unfortunately I exited a touch early… it was almost enough to cover my PPL.
 
I have quite a few million in crypto. Not USD of course. Bought one of the ones that have a couple 0s after the decimal point as a "lottery ticket." When I bought I knew the money was pretty much being thrown away, but hey, sit on it for a few years, and if a zero or three goes away, great.
 
Many years ago I got a degree in business management from one of the larger state universities in the country. Requirements included multiple classes in finance, economics, and accounting. I didn't graduate cum laude--more like thankyoulordy. I consider myself a person of at least average intelligence. Having said all that I have read numerous articles on cryptocurrency, NFT's, etc. and have yet to find anything that can explain to my satisfaction exactly what it is. I can not imagine investing money in something that is beyond my ability to understand (I know that may be a fairly low bar). I believe crypto is somewhat reminiscent of Bernie Madoff except on an even larger scale. :confused2::dunno:
 
murphey said:
Because I teach CS, I have a section on blockchain as a technology, not as crypto. So in the interest of research for my teaching, I have 0.05 Bitcoin.
Click to expand...
Blockchain makes about zero sense for technology. People invent things that could use it, but the thing really falls apart when you try to analyze the problem versus other solutions. Don't even get me started on the NFT idiocy.

Crypto is reliant on people putting more money in to support the price of what's there, in other words... ponzi scheme. Throw in some leveraged derivatives (three arrows, celsius, etc...) and the whole thing becomes rather unstable. Normally, it just will hurt that segment until you get bozos like BlockFi and others improperly suckering in the US public sector which definitely could trigger a 2009-ish recession.
 
Last edited:
No, but I have some old play money from a monopoly game I will sell you virtually.
 
I’ve been in it since 2019. Made some $$$ during the bull run. I’m down now in the bear run. One of my company’s investor made millions with Bitcoin but he got into it in 2012 and cashed out. My own company runs on crypto and blockchain technology, but our token is backed by a real world asset. I think blockchain and crypto is the future. The key is to look for tokens that have a real underlying value and blockchain is just being used to make the transactions and tracking safer and more convenient. That’s why I’m all for regulation in the industry. Right now, blockchain and cryptocurrency is where the internet was in 1995. We’re still very early. In 20 years however, this is how we will transact. No doubt about it.
 
Last edited:
flyingron said:
Blockchain makes about zero sense for technology. People invent things that could use it, but the thing really falls apart when you try to analyze the problem versus other solutions. Don't even get me started on the NFT idiocy.
Click to expand...
I’ve really tried to understand blockchain, but I just can’t get to the point where I can explain it to someone else. I’ve read that it could break up and make companies like google irrelevant, but I don’t understand that either, even though it appeals to me. I also read it could be a system for internet users that would end the practice of endless user names and passwords. If true, I think I’m all for that…not sure.
 
I made a reasonable amount of money on ETH then I got greedy and lost it all.

I have a couple **** coins but I'm out of the big stuff. I'm not disciplined enough and the risk is high.
 
I bought a few Eths to play with Solidity because I thought the idea of smart contracts was neato.

Sold one for some awful nano coins (formerly raiblocks) because I liked their consensus protocol. Nobody else cared or cares. They're worth about a nanofraction of the value I traded away.

I sold the rest of the eth before the monster run-up, and 10x'ed my stake for maybe 2 or 3 tanks of 100LL.

I now have a neato hardware wallet, a few thousand useless nano coins that I might remember how to recover if they rally, and the knowledge that solidity isn't very fun to code and has no real protection against footguns.

No lambos here. No "I bet the rent" stories either. Was an amusing little ride though. C+ would play again when bored. :D

Once the dust settles, I may buy one of these now-cheap-as-chips ASIC miners to eat my surplus solar power at my hangar, and maybe make me a quart of oil every month or something.
 
flyingron said:
Blockchain makes about zero sense for technology. People invent things that could use it, but the thing really falls apart when you try to analyze the problem versus other solutions. Don't even get me started on the NFT idiocy.

Crypto is reliant on people putting more money in to support the price of what's there, in other words... ponzi scheme. Throw in some leveraged derivatives (three arrows, celsius, etc...) and the whole thing becomes rather unstable. Normally, it just will hurt that segment until you get bozos like BlockFi and others improperly suckering in the US public sector which definitely could trigger a 2009-ish recession.
Click to expand...
Blockchain is a technology, crypto$ uses blockchain. There really are practical and pragmatic uses for blockchain.
 
You must log in or register to reply here.
Back
Top