Cryptocurrency

[autococker04]

It’s looking good. Every time I want to cash out I have to remind myself that I started at $5, even if it all goes away I can’t really lose.

[Axel]

This idea aged well.

A lot better than I expected, that's for sure.

Don't get me wrong, in the back of my head I was thinking, 'these things are 3-for-a-penny...' and calculating multiples thereof if it were to explode, but I didn't expect it to actually, you know, happen
I ultimately put less than the cost of a case of field-grade paint into this, so I'm letting it ride until it changes my life or goes to zero.

[Scottybeans]

Getting more into it lately. No clue what things will do in the short term but long term this stuff could be used as the currency in VR worlds like that movie ready player 1.

Or it's all just nonsense. But I think that VR tech is coming. I'm sure smart contracts are great for other stuff but I won't pretend to have a great understanding of that.

I own a little bit of BTC, ETH, and ADA. My "strategy" will just be to slowly average in, targeting for 1-5% of my assets in crypto.

[autococker04]

I've half intended to buy a few coins for awhile--maybe litecoin or a few satoshis--just for the heck of it. Now's probably not the best time to jump on board...

But screw it, I had four bucks and change extra cash sitting in Robinhood so now I'm the proud owner of 1300 Dogecoins 😆

What do you all think of cryptocurrency, what's your strategy, etc

This idea aged well.

[Danny72]

One more thought... I am encouraged by the fact that even though BTC isn't moving much in aggregate, it's more or less holding near the high for a few months now, instead of plummeting instantly like the last bubble

Checkout Cardona (ADA) on YouTube

You can snag it up on coinbase

[Rainmaker]

Yeah, my etherium and litecoin have been doing great! I'm just putting all my savings in there for now, and it's really nice to make 10%+ on a savings account

Also, I DID happen to put a bit into Dogecoin at around 5 cents. And then i proceeded to forget about it, and assumed it was doomed to fail... Now, i'm wishing I had put more.

[Axel]

One more thought... I am encouraged by the fact that even though BTC isn't moving much in aggregate, it's more or less holding near the high for a few months now, instead of plummeting instantly like the last bubble

[Axel]

Well holy ****. To state the obvious, I should have bought crypto a long time ago.

I finally pulled the trigger on a small portfolio in Robinhood and it's blowing out the stock side. My playtime account is turning into some serious cash... For now, lol
BTC ironically is doing very little. I'm a big believer in Ether, and given the myriad uses for the Ethereum blockchain, I expect it to do well. NFTs are still the stupidest thing I've ever heard of, though

[gabe]

A friend of mine probably 10 years ago bought DMT on the darkweb for like 10BTC at a time when it was only maybe $10 per Bitcoin. Little did he know that was a $300k trip lol

I have about $100 in Bitcoin but I bought near the top. Will probably dump it as even with it's recent explosive growth there's other places around in the markets to get that kind of return.

[MrKittyCatMeowFace]

martix_agent i know how to use it! Crypto currency is used to buy guns and drugs and other stuff of the deep web without getting caught. .

[Rainmaker]

So far the first day mine went up about $4, then the 2nd day it went down $8, now today it's back to even. Fun rollercoaster

[punkncat]

I've got a few bucks in it. Ethereum has been doing quite well the past week or so. Bitcoin is so all over the place. I feel WAY more like gambling than investing when dealing with that.

As a metric. Watch GPU demand and pricing. If mining is going on and good GPU are hard to find due to it, there is going to be money to be made.

[Chuck E Ducky]

I don’t trust it. I’m working on tangible investments. Real gold / silver (not paper). My Ammo investment has done great honestly. I pulled money from my deferred comp it was way up and my “COVID relief” let me skirt the 10% penalty. I’m dumping it all in property’s and a new home. Worst case the US keeps printing money I will have something tangible. US can’t print more land. I don’t want to get caught with a bunch of money in the savings when it’s value is slashed with the massive over spending plan being put in place.

[Rainmaker]

I saw today in my PayPal account that you can buy crypto with PayPal. No idea if this is a smart or dumb idea, but I had a few bucks I didn't mind throwing away, so I bought some Ethereum this morning. Mostly just for kicks, I only did a little research, so if it comes to nothing then oh well.

[ford]

The issue is that nobody knows how to how to spend them. the other problem is that it's so unstable, that it's not a good idea to spend them,

Crypto is a just in time currency.

Similar to how most retail stores don't want too much inventory on hand because prices can fluctuate on a given product, if you're using crypto currency the way it was meant to be used you only use it when you need to do a transaction. If crypto currency ever has the faith/credit of something like the US treasury (doubt it), maybe you keep some laying around, but doing so at any point right now is heavy on risk.

Just buy it when you need it on a per transaction basis and it's fine... Ignoring the issue of what can you buy with crypto you can't already buy with cash or a credit card that is above board.