Cryptocurrency

[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.

[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

[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.

[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.

[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.

[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.

[boarder2k7]

Dogecoin up to $0.60 today has me very happy (and also super sad about the chunk I sold off at $0.056 6 weeks ago)

[Axel]

Man, I am getting my rear handed to me, I guess everyone is. Time to buy more, eh??

[Rainmaker]

Yeah, damn. This has been a rough freaking month or two

[gabe]

I was told crypto only goes up. That was a damn lie.

[Rusty Brass]

This is much less fun than a couple of months ago. All I wanted was to make a couple million bucks out of nothing, was that really too much to ask?

[punkncat]

I have mixed feeling about it, honestly. The amount of money that I have in it is less than a really good entertaining weekend, so isn't going to hurt one way or the other. Bitcoin has fallen a good way and all I can see for the near future is more falling. What I am honestly hoping is that we will see a chink in the armor of Ethereum such that graphics cards fall back to something like MSRP. I would expect that if this falls much further we are going to see a market absolutely saturated with ex-mining cards.

Even if it does fall, I will probably grab a bit up when it hits REALLY low and just take a wait and see. I feel FAR worse for a buddy of mine whom was, on paper, a millionaire on coin for just a moment. Told his ass to cash out....

[gabe]

Yeah, I'm averaging down. I feel like Etherium is the place to be since it has a pretty good framework and is one of the index cryptos. Cost basis at $2200 and still averaging down. But yeah, it was more fun when it was $3800. Also more dangerous to buy at that price as well.

[Rusty Brass]

That's the only one I have any real money in and I'm still a believer in it long term. Letting it ride.

[gabe]

The misconception that's hitting home is last year's reality of 20%-100% gains in a month or less. Crazy times. Now people think a "long term hold" is 3 months. Gotta be in this game for the long term.

Crypto is the inflation hedge

[sniper97]

buy low, sell high.

The problem becomes there's no rhyme to reason behind price fluctuations. Right now it's sky high again. It can it will rash again at at moment.

Just need Musk to make a comment

[RAZRBAKK]

Been a moment since anyone posted here.

Bitcoin to me is a proof of concept. These days I'm putting my money into Cardano and Solana. Cardano because of scalability, and Solana because IMO it is likely to replace Ethereum for NFT transactions. The transactions persecond on both are NUTS.

I think NFTs are stupid, but there is no denying their popularity. I figure it's good to get in early on the preferred currency for them.

Also if you genuinely want to make anonymous transactions, you need Monero.

[gabe]

I like to think Bitcoin and Etherium are the "index" or name brand cryptos and thus have staying power. On the technical side I see Cardano and Solana having more advanced blockchain and with this latest update with ETH and the insane gas fees it has me a little concerned.

Either way I'm buying more ETH at $4k. Buy every. single. dip.

[RAZRBAKK]

I am also investing in ETH, but I have concerns about it long term. If they can't switch to proof of stake fast enough there is the possibility something will surpass it.

My goal is to own one entite ETH coin, and then I'll decide if I want to keep going.

[gabe]

Same here. I'm up to 1/3 a coin and just keep going in $50-100 a time whenever there's a little extra in my brokerage. So far it's my second best performing asset behind Tesla. But yeah, I have concerns about it falling by the wayside. If the ETF market moves away from ETH then it's going to have a hard time.