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AndyC wrote:Many will crash because they're just hype and hot-air - good.

Eventually there will be winners and losers.
The auto industry got weeded out to the major 3, while imports have filled in some of the voids.
The early PC industry, most are gone. Kaypro, DEC, Atari, Commodore.

Those that survive become the big winners.

Before this thread completely goes away, I have a coinbase account would there be an advantage to setting up my own wallet on my own computer. Can I keep a copy of my wallet on my wife's machine?

1911 Raptor wrote:
I guess I am confused. If crypto-currency is not recognized as currency by the US government how can it be federally insured?

The US dollars that you have in their account is insured. You can have a wallet for each currency including one for USD

Soccerdad1995 wrote:

AndyC wrote:I was really hoping that this thread could stir discussions in cryptos to look out for, share successes etc - I really didn't expect the non-stop negativity towards something others are enjoying.

As far as I'm concerned, you lot do what you want - if you're not involved in crypto then DON'T GET INVOLVED, but I'm really tired of all the slamming so I'm now out.

Unfortunately, that seems to be a prevalent attitude on this board. I think it is just part of human nature to think that your way is the best / only way and slam anyone who decides differently. While this sort of attitude is certainly understandable it effectively also cuts off reasonable discussion on things like open versus conceal carry, caliber, etc. Respectful disagreement is fine, but far too often I see it crossing the line to people calling other's choices "dumb", or worse, just because they choose to do something different.

I think that a lot of people just can't wrap their head around that fast and large proffits could be legitimate. What I find interesting is that folks are investing in different ways with different strategies. Yet we all have done pretty well.

my strategy has been to set an amount that I was going to invest. I bought in at 3 or 4 times over a time period of 6 months Starting in June. The total amount that I invested was $1000 50% into Bitcoin 30% into Ethereum 20% into Litecoin. I have over 250% profit so far. While gaining a little bit of Bitcoin Cash in a fork. I'm not going to "work" it buy trying to buy low and sell high, but just am going let it ride at least until this fall when I intend to buy a car.

I don't know what the future holds for crypto-currency, but I am pretty sure that any money I have in the bank will be worth less than it is now. If crypto crashes and burns, it's not going to change my lifestyle. Investments into comcast stock or city bonds aren't as controversial, but they aren't as much fun to follow either.

92f-fan wrote:I lost interest when I realized buying in and selling are both strictly limited ...
Lets assume you mined a seemingly small number of coins back in the say. Lets say 10 - worth approximately $100k now
How do you get your $100k out ?
In less than 100 transactions ?
Go ...

There is a couple of ways:

you can go online and purchase a commodity, like precious metals when the commodity arrives go and sell it to a Pawnbroker or other retail local metals dealer.

You can set up an exchange account through a local bank. sell your Crypto, then wire it into your bank. This is the cheapest fastest way. But a few more steps than buying receiving and selling a commodity.

It's really not that complicated.

rotor wrote:

The Annoyed Man wrote:

The Annoyed Man wrote:Now I’m up $670 since 12/22, and up $181 since 6:30 this morning. A friend of mine made a little over $4000 in the last 24 hours.

It’s up to $723 of profit now.

It's only a profit when you sell. The question is.......... when do you sell? Still a Ponzi.

I don't think you understand what a Ponzi really is. Trading cryptocurrencies is commodity trading, it's no different than pork bellies or precious metals.

Bitter Clinger wrote:
Why not just admit that it's gambling and that's the enjoyment? You don't need to fly to Vegas, but the drinks are free once you get there.

Have fun, I hope you do well. If you don't, just remember the house always wins.

I think most of us understand this is gambling. Judging from what I see, most of What has been invested has been recreattional. So far it's been a fun ride.

Every investment, and any speculation is a gamble. Sometimes the player wins. All I know is The market could take a pretty. Deep nosedive and I could still be ahead.

The one thing I'm certain about is that the US dollar will buy less in the future than it will buy today. It's been that way my entire life and I see nothing that will cause this to change.

Never invest in something if you're not comfortable with it. I poo-pooed Microsoft in the 80s and into the 90s because they didn't have any real assets behind it. I invested in MCI WorldCom instead afterall It was the infrastructure of the internet after all. Oh well, you win some and you lose some. You pick a few more winners than losers and we do alright. One thing is true though, money in the bank will cost ya, Blue chips bought while young helps us from eating catfood in our old age. Real estate will give us a place to live and maybe even an income. Invest in guns and ammo your investing in security. Everyone makes different decisions. For the most part, diversity is king, nobody is getting rich by leaving money in the bank.

The thing about the U.S Dollar is there is nothing behind the dollar. There is nothing but the confidence behind it that we can trade it for real goods and services. One thing that we be pretty well assured of is that it will be worth less in the future than it is today. Crypto is backed only by the confidence of those who buy and trade from their wallets (supply and demand). Those who hold and trade it are solely the ones who determine its value the government can't just decide to print more to pay it's bills. While we can be pretty confident that the U.S. Dollar will be worth less next year than today, Most of us expect that the mainstream cryptocurrencies will actually be worth more.

The Annoyed Man wrote:
In the meantime, my original $999.00 investment is worth $1,424.05 today, 01/06/18 - almost exactly 3 weeks after I first got in, and that’s after transaction fees were paid, and counting my little loss on the side. That’s 42.6% profit in 3 weeks. There is nothing in the stock market performing like that. There is nothing in mutual funds that performs like that. There is nothing in CDs or savings accounts that performs like that. Not even precious metals perform like that. I made $425.05 just by sitting on my thumbs. And that is REAL money. I can transfer all of that back to my Chase Bank checking account in dollars, and I’ll still have $425 more than I started with.

I’m really looking forward to this time next year......52 weeks from now.

Precious metals have been pretty boring lately. My crypto has been an exciting ride. That's OK though, I own Crypto for the exciting ride. I hold paper securities to live off of, and Precious metal as an inflation hedge. If precious metals start getting exciting it's probably a good indication that most of my other investments are in trouble.

We can by real things with but coin, when you purchase an item with most venders, there is typically no mark-up or very little. For instance; a large precious metal dealer JM Bulion has a special for 10 coins.
If you send them a check it will. Cost $162.30
Bitcoin will cost 163.99
Credit card or PayPal 168.99
Although Bitcoin is $1.69 higher there is no mailing of checks involved. There are no fees involved with transferring bitcoin from your wallet. There aren't a large amount of benders that accept bitcoin yet, but lousy is growing. It's kind of nice to make purchases without banks being involved and tracking your purchases.

I've saved a little and invested in more traditional venues, Today I live off these investments and am retired. This is investing wisely conservatively and diversified.

I look at these cyber currencies as having a little bit of fun and maybe even make a little money. I only bought a fractional coin. Its one of the few things I've done in life just for fun that has made me money. things that grow at 7% are good investments, and can grow enough to provide an income. It's not very exciting though. The cybercurrencies could very well be gone tomorrow, or it could make enough to buy a new gun.

This thread this summer got me to thinking. Why not invest a little in cybercurrency? I did. Not a significant portion of my portfolio, Just a few hundred dollars. It's been fun watching this grow so fast. It's more exciting than a casino and a lot more profitable. This isn't the first time that this forum prodded me on to make a good decision. Bitcoin has tripled in value.

I am thinking more along the lines of a collapse of currencies, and governments. The value of gold has survived many collapsing goverments and worthless currencies. I am covering all the bases though, I have a stock of fishing supplies, ammo, non-hybrid seeds and non-perishable food. Lots of Radio equipment and even a few cases of water.
In any disaster, though I suspect loss of internet access would make crypto cash useless. Gold still had value after the many falls of Europe, the fall of the confederacy and the bank failures of the 20th century. The food and emergency supplies I will keep for my family survival and self survival.

ELB wrote:There's nothing more behind gold and silver than there is behind any currency. People just agree to assign value to it. Or not. Bullets and bacon have some intrinsic use that can give them value.

Gold and silver have had value longer than bullets and keeps better than bacon. Silver and gold unlike state currencies and Crypto coin. does have intrinsic value. The value might some day crash , but it will always be worth something. It has a few thousand years of experience behind it.