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Cryptocurrencies: You in, or out?

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


Tags:
  1. Asia-Off-Grid

    Asia-Off-Grid RIP 11-8-2018

    One thing is certain. We ALL will know if it is a bubble, by the end of 2018. Or, will people continue to call it that still, by then?
     
    VisuTrac likes this.
  2. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I just swapped out some of the free air drop bitcoincash and bitcoingold for a different crypto.
     
  3. sec_monkey

    sec_monkey SM Security Administrator

    VisuTrac likes this.
  4. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    Zimmy, VisuTrac and sec_monkey like this.
  5. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Holy crap. I hope they have the stomach for 10 - 25 percent corrections along the way. This would be one of those cases where one should not risk more than they can afford to lose. A mortgage is like doubling down.

    This thing has no brakes, air bags nor safety net. It appears that if one takes out a mortgage and can't afford to lose the house, there may be no brains either.
     
    sec_monkey likes this.
  6. sec_monkey

    sec_monkey SM Security Administrator

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  7. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I'm ok with greed. It's making my holdings appreciate. I just hope the nutjobs push it into the 6 figures.
     
    sec_monkey likes this.
  8. sec_monkey

    sec_monkey SM Security Administrator

    uncontrolled greed, such as takin out mortgages to buy btc is [loco] :(

    strategic greed might be acceptable

    coins are too volatile to bet the house on
     
    VisuTrac likes this.
  9. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    @sec_monkey right on. Betting the house on it is bad greed but hoping the paid for holdings pay off the existing note .. yep that's how I'm gonna roll.

    On a serious note, no one that can't afford to lose everything they 'speculate' with should touch this stuff. Buy land instead.
     
    Gator 45/70 and sec_monkey like this.
  10. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    VisuTrac likes this.
  11. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I'm going to say the 'bubble' will continue until the governments sells off the ones they've confiscated.
    Until then .. HODL! ;)
     
  12. arleigh

    arleigh Goophy monkey

    I feel more comfortable investing what little I have in canned food, rice beans and seeds and water reserves, than speculative stocks .
    I buy silver because I have a use for it .
    If you have a piece of paper that says you own x and the economy dumps, the paper won't be worth the effort to prove any thing imo .
    There are efforts to force society to go cashless, preventing private sales and allowing the government to dip into the nations wealth any time they want .
    I've got people telling me to invest in another countries money, like they are going to be impervious to the effects of the new world order , But the whole point of the new world order is to force the one world money . so the crooks (in government) around the world can share the wealth.
    And what is going to back this money and who is going to possess it's backing ? A false promise much like the dollar ?

    IF I had money to invest, I would build a business that I could employ people, versus automation, and put them to work making an honest living .
     
    VisuTrac likes this.
  13. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    After BTC's rocky Friday (losing at one point a third of it's value), what are you investors doing? Standing pat to see what happens or taking profits from BTC's bought at lower than present?
     
  14. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Well, I spent some Bitcoin dust on Xmas presents when it rolled over 10k at the beginning of the month. So basically this xmas is going to be good for everyone. Not a single penny on CC. Unfortunately, the fees on a [btc] transaction are getting kind of high.

    Did swap out some dust around thanksgiving for other alt-coins and some PMs, cashed in the PMs and been spending that locally for gifts, groceries, beer, dinners out, took Mrs VisuTrac to the picture show, gasoline, firewood, dropped a decent amount of USD in the red kettle, some prepaid Amex Cards, a new battery for the laptop, a MacMini so I can develop mobile apps for IOS .. you know, basic living expenses.

    Other than that I'm HODL until retirement where it will either be worthless or worth something.
     
    Last edited: Dec 24, 2017
    Yard Dart likes this.
  15. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Just a note about profits :

    I've been burned on too many exchanges to want to keep 'Profits' in someone else's wallet.
    If you sell your coins at a profit on an exchange .. you can either have the profit in another coin or a fiat currency.
    this is just a ledger entry in someone's books. so until you can actually get it moved to a wallet that you control you are at the mercy of the exchange to act responsibly and not allow them to be stolen by others.

    I give you this exchange for example:
    https://btc-e.com/index.html

    Yep, I had coin and cash there. 40+% haircut to get out.

    So proceeds from a sale are not realized until you can get them out. I've learned this lesson several times. (Mt. Gox, Crypsty)

    Same thing with mining pools, if you don't sweep mining efforts to a local wallet .. you could lose them due to a hack or inside job. I've also learned this but not to the extent of the exchange wipeouts (HashCows and now NiceHash )
     
    sec_monkey likes this.
  16. Asia-Off-Grid

    Asia-Off-Grid RIP 11-8-2018

    @VisuTrac I made a stupid newbie mistake, recently. I had a text file open where I would create an appropriate passphrase for each respective wallet, with the wallet name just before it. I had downloaded and ran a wallet for Verge, which I had purchased at the very attractive rate of 110 Sats. I saw them increasing in value and wanted to add more to the wallet. But, I also wanted to use a different receiving address (fortunately for me). So, I purchased the crypto. I went to the wallet to create another address. The window popped up asking for my passphrase. I inserted one of my (encrypted) USB drives (used for backing up my wallets and keeping them separated from the computer) to get the passphrase.

    I pasted the passphrase in the text file upon installing the wallet. But, the only thing I can think of is, I later closed that particular copy without having saved it. I looked at all backups, but have failed to locate the passphrase for over 1,000 XVG. So, all I can do now is just load the wallet and look at my coins, forever. LOL.

    Less than $20 US lost. But, last time I checked, they were valued over $250 US. I will be kicking myself for a long time to come.

    Regarding exchanges, I mostly use Yobit and Cryptopia.
     
    Zimmy likes this.
  17. sec_monkey

    sec_monkey SM Security Administrator

    it dropped from about $20,000 to $10,000 yall .. a 50% drop overnight ..

    it has since recovered slightly .. currently around $14,000

    the fees are getting [loco] [loco]

    ya have to spend $80 to $120 to get a $10 [slice] pie

    which is why valve no longer accepts BTC
     
    VisuTrac likes this.
  18. Asia-Off-Grid

    Asia-Off-Grid RIP 11-8-2018

    Tons of companies do accept BTC, as well as other crypto. In fact, I recently noticed a couple of private torrent sites I am on, now accept crypto as payment.

    But, I stopped using BTC due to the increase in transaction fees and the time it takes to complete a transaction.

    I can't repeat this enough, never invest more than you can afford to lose, in anything. This certainly includes both stocks and crypto.
     
    3M-TA3 likes this.
  19. Ganado

    Ganado Monkey+++

    i operate on the taxi driver theory.... if you cab driver is talking about an investment, its past time to get out
     
    Tully Mars and TnAndy like this.
  20. T. Riley

    T. Riley Monkey+++ Site Supporter++

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