Cryptocurrency

Playboi Carti

Well-Known Member
May 7, 2017
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Anyone else invest in cryptocurrencies yet? I'm just starting out and wondering if anyone had advice for buying and trading.
 
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ArgentCy

Well-Known Member
Jan 13, 2010
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Good luck to you as I think we are near the top. Judging by the number of random threads on here lately and the price action we are very near another peak in these currencies. Some have shown that it is now the biggest "bubble" in history just surpassing Tulip mania.

I will wait another couple years until most people have again forgotten about cryptocurriencies and look for the most useful to start accumulating. I do think they are here to stay and serve a very important potential for the future.
 

Playboi Carti

Well-Known Member
May 7, 2017
1,581
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Good luck to you as I think we are near the top. Judging by the number of random threads on here lately and the price action we are very near another peak in these currencies. Some have shown that it is now the biggest "bubble" in history just surpassing Tulip mania.

I will wait another couple years until most people have again forgotten about cryptocurriencies and look for the most useful to start accumulating. I do think they are here to stay and serve a very important potential for the future.
Cryptocurrencies or electronic currency is the future. I wouldn't be shocked if there's a universal cryptocurrencies that everyone uses instead of cash and coins with in 30 years.
 

Farnsworth

Well-Known Member
Apr 11, 2006
15,844
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Des Moines, IA
Good luck to you as I think we are near the top. Judging by the number of random threads on here lately and the price action we are very near another peak in these currencies. Some have shown that it is now the biggest "bubble" in history just surpassing Tulip mania.

I will wait another couple years until most people have again forgotten about cryptocurriencies and look for the most useful to start accumulating. I do think they are here to stay and serve a very important potential for the future.

I can't imagine anyone trying to get into bitcoin now for a long term play, basically day trading at this point until it pops.
 

Farnsworth

Well-Known Member
Apr 11, 2006
15,844
4,340
113
Des Moines, IA
Cryptocurrencies or electronic currency is the future. I wouldn't be shocked if there's a universal cryptocurrencies that everyone uses instead of cash and coins with in 30 years.

I think he agrees with you, as do I. But right now it's too hot. You need to wait until it steadies out.
 

Playboi Carti

Well-Known Member
May 7, 2017
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I think he agrees with you, as do I. But right now it's too hot. You need to wait until it steadies out.
My plan is to make small investments on coins that have big potential to grow like IOTA and Ripple. Then make a big investment on bitcon or Ethereum with all the money I'm going to get for Christmas and make as much as possible off that.
 
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Rapplegt

Member
Apr 7, 2006
87
23
8
Anyone else invest in cryptocurrencies yet? I'm just starting out and wondering if anyone had advice for buying and trading.
Yes, in answer to your question. Been invested for the past 6-months, or so. I continue to add over time and, frankly, if the predicted "bubble" bursts still expect to be well ahead. I'd just caution - don't put money in you can't afford to lose. It's risky, but the potential payoff is also very high. Don't invest, or not, based on advice from any one. Research for yourself and make your own reasoned decision.
 
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ArgentCy

Well-Known Member
Jan 13, 2010
20,384
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Yes, I do but now is just not the right time. Especially since BitCoin is losing its use as a currency due to the volatility and high fees.

http://www.zerohedge.com/news/2017-...-tulip-mania-now-biggest-bubble-world-history

bitcoin%20bubble%20biggest%20ever_0.jpg
 

Doc

This is it Morty
Aug 6, 2006
37,437
21,915
113
Denver
But seriously, I have 1.02 BTC, but I don't consider it an investment. I got it at $1,700. I used to have 1.5, but sold half of one when it was around 5,000.
 

Kypdurron

Member
Dec 13, 2017
60
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32
West Des Moines
I would say go for it I can say I started with a $400 investment at the beginning of the year and have grown that into $11k. Make sure your initial investment is money you are willing to lose.
- Start with a Coinbase account(it's the easiest way to get started). It will give you access to Bitcoin, Ethereum and Litecoin which are 3 of the biggest coins in the crypto market.
- Before moving into alt coins do some research and understand what the coin's blockchain does. If it is something a bunch of other coin's already do the chance of it taking off are minimal.
- I recommend the App Blockfolio for your phone. It's a good way to manage your total book and provides a news section that is helpful to stay current.
- When your ready and have built up a portfolio I would look into ICO's. Understand that close to 75% of them will fail in the next few years so look for new tech, uniqueness, ability to scale and look into the people behind the project.

Feel free to ask me any questions on investing in crypto currencies as I enjoy discussing them!

Good luck
 
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Playboi Carti

Well-Known Member
May 7, 2017
1,581
1,190
63
23
I would say go for it I can say I started with a $400 investment at the beginning of the year and have grown that into $11k. Make sure your initial investment is money you are willing to lose.
- Start with a Coinbase account(it's the easiest way to get started). It will give you access to Bitcoin, Ethereum and Litecoin which are 3 of the biggest coins in the crypto market.
- Before moving into alt coins do some research and understand what the coin's blockchain does. If it is something a bunch of other coin's already do the chance of it taking off are minimal.
- I recommend the App Blockfolio for your phone. It's a good way to manage your total book and provides a news section that is helpful to stay current.
- When your ready and have built up a portfolio I would look into ICO's. Understand that close to 75% of them will fail in the next few years so look for new tech, uniqueness, ability to scale and look into the people behind the project.

Feel free to ask me any questions on investing in crypto currencies as I enjoy discussing them!

Good luck
Do you use a digital wallet?
 
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Kypdurron

Member
Dec 13, 2017
60
27
18
32
West Des Moines
Do you use a digital wallet?
I use Coinbase, which is essentially a cloud wallet. I also have Jaxx for my Alt coin storage(this is a digital wallet) and a paper wallet for my largest holding(this is the most secure form of wallet as someone has to break into your home or bank, depending on where you store it, in order to steal your coins)
 

ArgentCy

Well-Known Member
Jan 13, 2010
20,384
11,174
113
I'm afraid that the next phase is gong to be governments around the world bringing the hurt as much as they possibly can to the space. They can't stand the potential threat to their dominance and will sick every IRS or alphabet agency they can after the space. Since it is billed as a currency then they can easily invoke all kinds of money laundering laws quite easily. Then you have a new Horrible bill co-sponsored by our very own Chuck Grassley

https://www.congress.gov/bill/115th-congress/senate-bill/1241/text
 

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