crypto currency investing, anyone?

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H22A4 said:
If it was that easy to make a little extra $$ then everyone would be doing it.

High risk stuff so, if you can kiss that $$ goodbye the second you invest it, then go for it!
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Exactly. I’m not saying to invest one’s life savings into, hell no. I dibble and dabble here and there. Basically at the end of the week, I look at what I didn’t use in my eating out for lunch budget, and toss that in. It’s not making me rich but even with the plunge this year, which I got out of just before it fell by sheer gut feeling, I’ve turned such a profit, it has helped to pay for the larger parts for my dart.

It definitely isn’t easy, you dang near have to day trade it. Long term holds of anything but maybe Bitcoin is a sure fire way to lose it all. I dabble in what I refer to as shitcoins with a fall back to Bitcoin when the shitcoins stink. Like they do now.

The days of turning 100 bucks into billions are likely gone. But there’s still a bit of money to be made if you’re careful and smart and don’t try to get greedy
 
IDK about long term being a sure loss.

I've been in since 1999 and my holdings currently show a 6% all time gain.

However, what that doesn't show is all the dividends I've received, all the stock I've sold for a profit (or loss), and all the stock that I've received via spin-offs, oh and the time I took out $22,000 to buy a shop, and $5,000 to refinance my house.
 
YY1 said:
IDK about long term being a sure loss.

I've been in since 1999 and my holdings currently show a 6% all time gain.

However, what that doesn't show is all the dividends I've received, all the stock I've sold for a profit (or loss), and all the stock that I've received via spin-offs, oh and the time I took out $22,000 to buy a shop, and $5,000 to refinance my house.
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I was referring to crypto and to MOST shitcoins , the dogecoin, shib coin etc. and crypto has only been around since 2008.


But you’re referencing stocks, which yes, generally average up over the long hold. Don’t disagree there.
 
FTX CEO arrested!!! This guy took your money and defrauded everyone. He was even responsible for telling Congress how to write crypto rules and regulations. Crypto is the wild west.


 
Treblig said:
FTX CEO arrested!!! This guy took your money and defrauded everyone. He was even responsible for telling Congress how to write crypto rules and regulations. Crypto is the wild west.


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Good.
 
Unconventional said:
The Federal Courts have one Crypto fraudster on the books and they are looking for more :rolleyes:
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What this Guy did wasn’t just fraud, it was literal theft. Dig deeper, FTX didn’t fail because of crypto, FTX failed and was illegal because he advertised a service and didn’t actually do it.

So for example, one bought 20 bucks of Bitcoin thru FTX, thinking they owned the Bitcoin right? Wrong, FTX never actually purchased it, they just claimed too. They did turned around and leveraged that 20 dollars in various investments, reaping the profits and such from it. Then their investments went belly up.

What happened was, people started wanting their Bitcoin sold and their money in cashed out. FTX didn’t have it. FTX had leveraged it and lost it. So there was never any crypto actually bought. It was a total sham
 
I thought the guy went broke? If you all truly want to invest, invest in precious metals, ie gold, silver, platinum, etc. I've never seen bitcoin used to buy anything. Precious metals are a solid investment. Gold has been around for years. I've never heard of anyone going broke with gold.
 
Dan the man said:
I thought the guy went broke? If you all truly want to invest, invest in precious metals, ie gold, silver, platinum, etc. I've never seen bitcoin used to buy anything. Precious metals are a solid investment. Gold has been around for years. I've never heard of anyone going broke with gold.
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Even metals can fall
 
Dan the man said:
I thought the guy went broke? If you all truly want to invest, invest in precious metals, ie gold, silver, platinum, etc. I've never seen bitcoin used to buy anything. Precious metals are a solid investment. Gold has been around for years. I've never heard of anyone going broke with gold.
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Yes/no. See above
 
Like I said all investments are risky.I don't understand alot of investments. People try to get me to look into Gold/silver Ira but you never get to hold it like they say.You have to pay to store it and they take a pick.....sounds fishy on the taxes also
 
Bigdummy said:
Like I said all investments are risky.I don't understand alot of investments. People try to get me to look into Gold/silver Ira but you never get to hold it like they say.You have to pay to store it and they take a pick.....sounds fishy on the taxes also
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I've never paid a dime on taking money out of my IRA it's been a tax free investment from the start. True, all the investments are risky but gold and silver have been around alot longer than bitcoin and they will be here when bitcoin is long gone. As I said earlier, I've never heard any investment firm advertise bitcoin as a investment.
 
Dan the man said:
I've never paid a dime on taking money out of my IRA it's been a tax free investment from the start. True, all the investments are risky but gold and silver have been around alot longer than bitcoin and they will be here when bitcoin is long gone. As I said earlier, I've never heard any investment firm advertise bitcoin as a investment.
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And if you kids inherit a Roth IRA it's also tax free to them!!!
 
Dan the man said:
True, but gold and silver will always have a value. Isn't bitcoin a currency that a individual came up with? I've never heard of any investment company say invest in bitcoin
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Bitcoin is a "fiat currency" which means it has no real value other than the perception that it does have value. It is strings of 1's and 0's in the cloud and was made up by some fairly imaginative people. By advocates saying it has value, some folks believe it.
I am a metals guy myself and in retirement I can't afford to make any mistakes. But aside from the usual mutual funds and EFT's my portfolio is heavy with gold and silver. I am consoled by the fact that metals are a real value and not a "fiat currency".
Bitcoin always seemed like a scam to me, and I have yet to hear anyone make a sensible argument telling where the value comes from.
JMHO------------DR
 
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