Cryptocurrencies: You in, or out?

Discussion in 'Financial Cents' started by Asia-Off-Grid, Nov 21, 2017.

  1. Asia-Off-Grid

    Asia-Off-Grid RIP 11-8-2018

    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?
    Motomom34 likes this.
  2. Dunerunner

    Dunerunner Brewery Monkey Moderator

    I'm out. I like tangibles. If I had bought 22LR 40 years ago when a 100 round box was $3.25, I'd have made a fortune over the past 8 years. :D
  3. techsar

    techsar Monkey+++

    Out, no doubt.

    To me, it appears similar to the Wall Street gamble...but without anything to provide a frame of value.
  4. Thunder5Ranch

    Thunder5Ranch Monkey+++

    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.
  5. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    Out, and was never even In.... My Old Man was an Old School Banker, and he taught all his Children to be VERY Conservative with their Finances...
    Gator 45/70, 3M-TA3 and sec_monkey like this.
  6. Asia-Off-Grid

    Asia-Off-Grid RIP 11-8-2018

    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. :D
  7. sec_monkey

    sec_monkey SM Security Administrator

    @Asia-Off-Grid BTC gets stolen constantly :( :cry: :mad: :mad:

    plus the value can go from $8,000 to near $0 in seconds

    not investment grade

    Gator 45/70 and 3M-TA3 like this.
  8. arleigh

    arleigh Goophy monkey

    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 .
  9. sec_monkey

    sec_monkey SM Security Administrator

    the monkey investment fund should be much more reliable than BTC ;) ;)

    BTC risk is off the charts
    Zimmy, Thunder5Ranch and 3M-TA3 like this.
  10. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    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.
    Zimmy, DKR, Gator 45/70 and 5 others like this.
  11. Motomom34

    Motomom34 Monkey+++

    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.
    hitchcock4 and Asia-Off-Grid like this.
  12. sec_monkey

    sec_monkey SM Security Administrator

    [LMAO] @3M-TA3 :)

    is there a crime BTC is not being used for?

    real gud points though (y) (y)

    BTC is being used for serious criminal activity .. many countries have been shutting down BTC operations/exchanges plus plus .. this is real news ..
    3M-TA3 likes this.
  13. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    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.
    sec_monkey and techsar like this.
  14. techsar

    techsar Monkey+++

    And never invest money you aren't willing to lose!
    3M-TA3 and sec_monkey like this.
  15. sec_monkey

    sec_monkey SM Security Administrator

    [applaud] @techsar
    [applaud] @3M-TA3

    now is not the time to get into BTC or any other crypto currency .. at $8,000 it is [loco]

    the time to invest was when it was @ around $4 not around $8,000
    Bandit99, techsar and 3M-TA3 like this.
  16. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    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.
  17. Tempstar

    Tempstar Praeclarum Site Supporter+

    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.
  18. chelloveck

    chelloveck Diabolus Causidicus

    My children's great-grandparents, with a week's wages, had enough Weimar currency to wallpaper their 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. :eek:
  19. sec_monkey

    sec_monkey SM Security Administrator

    in theory BTC can lose value in nanoseconds

    it can be stolen or confiscated in milliseconds :( :( ..

    the BTC network has many serious flaws
    Thunder5Ranch likes this.
  20. mysterymet

    mysterymet Monkey+++

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