Cryptocurrencies: You in, or out?

I know this forum accepts Bitcoin as a way to make donations. But, I am not sure how long this has been an accepted payment method?

Anyway, I finally decided to take the plunge and put some money in a few different cryptocurrencies.
Bitcoin (BTC) and a few others. NoLimitCoin (NLC2) is one I think has serious growth potential.

Just wondering if others here are active in trading them?

 

Out, no doubt.

To me, it appears similar to the Wall Street gamble...but without anything to provide a frame of value.

 

Out for the same reason as Dune, I like food, livestock, seeds, ammo,tampons, toilet paper, paper towels and heavy duty 60 gallon unscented trash bags. Food sells now and in the event of SHTF it will be even more valuable, same with seeds. Toilet Paper and Paper towels and tampons will always be useful and in high demand. And the trash bags........ Well think about all the purposes they can serve, rain coat, shelter, luggage etc. Alternative Currencies are just too high risk with nothing tangible backing them, great if you like to play the speculation game but just as worthless as dead presidents in the end.

 

I'll make sure I let you all know how I do with NLC2, especially. I will either invite you all to a party on my yacht, or to my cardboard box off 3rd and Main, depending on how well I do.

 

I hear some people are speculating on foreign currencies .
Much like speculating on the stock market ,test as much as you can afford to loose .

 

Out, never in.Even backed less than fiat currencies. The only utility value is to hide where the transaction is coming from and going to. Don't keep longer than you need to mitigate risk. Super duper to buy drugs, illegal guns, sex slaves or have someone killed. Since I don't do drugs, have all the guns I want, wife won't let me have a sex slave, and if they need killin' I'll do it myself I have no use for BTC.

 

I have been reading and studying in this "alternative money", that is what I call it. There are a few small companies that are hoping to compete w/Bitcoin. It would be nice to invest some and hope it grows.

 

Invest early and split with your profits when it starts to take off. IMO these are all sucker bets designed to part money from the people who buy in late.

 

And never invest money you aren't willing to lose!

 

And I'm in. I've already extracted well over my initial and on going costs.
Bought some, sold some, traded some, mined some, gambled some. And yes, lost far to many due to hacked exchanges, pool and exchange operators and even some confiscated by governments (including the US govt)
Actually mining BitCoinCash right now.

I'm either going to be able to do what ever I want in the future, or do what ever I can afford on my current salary/savings.

For me .. crypto is simply one egg in the basket. I'll not be happy if it goes bad. I look at it as the Powerball lottery. I put in a couple of bucks a week, maybe I'll hit the big one, more than likely I'll get nothing but sometimes I get the gold ball.

 

I have some value in Bitcoin I made by selling TradeWars accounts (Anyone else ever play?) I have a number in mind and when it hits it it is gone. Will be 1000 times my money, enough for a new roof on the shack here.

 

My children's great-grandparents, with a week's wages, had enough Weimar currency to wallpaper their apartment...it was cheaper than actual wallpaper....any currency is vulnerable to devaluation, given the right economic / political circumstances. Electronic / crypto currencies can't even paper your wall...or keep you warm, burning the stuff in your fireplace.

 

I'd rather silver/gold/ lead because I can have it in my basement.