Any Crypto Investors (Gamblers)?

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timt

Lifer
Jul 19, 2018
2,844
22,739
Yup I just joined the game too! I like gambling, and I don't even have to leave the house! It's fun
I hear ya. I'm having a blast too. About a month ago I jumped into crypto and made a decision to allocate a certain percentage of my liquid assets to Bitcoin, Ethereum, Cardano and a smattering of others. Needless to say, I've been buying the dip on Bitcoin to keep the allocation percentage in place.

WTF, you only live once.
 
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EA-6B

Starting to Get Obsessed
Feb 22, 2020
206
650
coinmarketcap.com is good for quickly checking things like current & total supplies & all of the coins & stuff with the biggest market caps. If more people did that, you'd see less stuff like " to the moon $1000 DOGE coin". Doge current supply at around $30 each would be worth about as much as the entire current crypto marketcap.
 

BarrelProof

Lifer
Mar 29, 2020
2,701
10,601
39
The Last Frontier
My buddy was all excited telling me he had two full bitcoins. I didn’t know what he was talking about so I asked him to send me a photo of them. He told me they’re digital and he keeps them on a USB thumb drive, locked in a safe, and buried at an undisclosed location.

Nine times out of ten, I break the thumb drive trying to figure out which way it fits into the port. This is not a currency/investment for me.
 

Worknman

Part of the Furniture Now
Sep 23, 2019
983
2,908
A more accurate chart should further break it down to amount per user and amount per transaction expenditures instead of a lump sum comparison. Doing a single, industry comparison is like comparing pipes to cigars to cigarettes without acknowledging the drastic size of scale differences between them all.
Although calculating the energy cost per transaction for bitcoin is pretty straightforward, trying to do the same for the banking system would probably require Einstein and a chalk board full of equations.

Of course you could start with the electrical expenditure of say, a visa or bank transaction on the actual network, computer, internet etc. But what about the whole infrastructure itself. From the scryscrapers down to the local branches and everything in between, each requiring air conditioning, electricity, paper, workers driving to and from work, and on and on. And then there's all the bloodshed when governments go to war to protect their currency and the power that comes with controlling it.

A better question is would it be a net positive for humanity overall. If you do some research, you'll also see that bitcoin gets more efficient over time, and there's even arguments that crypto could help us transition to more renewable energy.
 
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EA-6B

Starting to Get Obsessed
Feb 22, 2020
206
650
Mining via large expenditures of energy is going to die out sooner than later. These days if you're doing something new, just avoiding it in the first place is better than trying to invent ways to keep doing it. Using energy-expenditure as an excuse to build cash value on any of this stuff never resonated with me. Other solutions are already out there & will continue to be developed. But, I think BTC & the other upstarts had to do it in order to prove themselves. Will BTC continue legacy mining? Probably for now, what choice does it have? But other ways will be utilized to secure other chains & probably will move away even from merge-mining. Look at ETH, moving from POW to proof of stake soon. A lot of chains in the interim have been merge-mined on top of existing POW chains, costing very little additional energy to generate those new merge-mined chains. Use-cases & values of these things will be determined by data/ network security, tx fees, speed, scalability, adoption, & many other things. But it looks like the energy-intensive stuff is getting hit hard in the markets right now, not carried. I think it's a little over-blown due to certain tweets, but the energy-usage has been a known issue & something to minimize or avoid with newer stuff, & some of the more "eco-friendly" networks & chains have been getting a boost in cash value over the past few days because of that attribute, & the tweets. P.S. - I still like BTC too.
 

telescopes

Pipe Dreamer and Star Gazer
It’s microeconomics. Bitcoin is a basket. There are other basket makers. What make one basket maker better than another. At some point, perceived values base on some economy of agreed upon principles will determine the value of each makers’ baskets. As soon as a digital currency of agreed upon value is determined, the economic worth and value of these different coins will be reassessed. Until then speculators are just that. Speculators. More to the point, governments will be within their rights to tax and clawback from those who made huge windfalls on these schemes for the economic damage created when the schemes collapse. And I for one will vote to have those fortunes dissolved.
 

EA-6B

Starting to Get Obsessed
Feb 22, 2020
206
650
Bitcoin is now significantly down

?
Hadn't looked until now - but that was some pretty good dumpage this morning, BTC down to 30k for a moment & since bought back up to around 38k now. That was supposedly a panic due to some regulatory fears out there. Someone banned crypto again or something. I guess I'll have to look at the BTC network hashrate. Is it gone now? =) 30k is about where one might think BTC might have hit before actually turning based on what it has done in the past, but it could cycle down like that again soon if more bad rumors happen. Long-term, this all seems normal for crypto, & nothing that hasn't come up & happened before. Stable coins handled the dumpage with stability like they are supposed to do, no big deal for them. ? ?
 
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I have a small Equity investment in a crypto coin processing/clearinghouse, but that is as close as I will get to this stuff.

The only way to make money is to get in first and get out first. Of course if you all want to buy and sell it, I will be happy to take my taste as it goes through the processing house albeit, that's almost as risky...
 
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Worknman

Part of the Furniture Now
Sep 23, 2019
983
2,908
I think most people see it more like a digital asset than a currency. Theres a difference between money and currency anyway.
 
Jun 23, 2019
1,937
13,236
In 2015, bitcoin and digital currencies in general were still a fairly obscure technology. Because of this, users who believed in the success of cryptocurrencies even then had the opportunity to invest in them at an extremely low price.
For instance, exactly five years ago, on December 5, BTC could be purchased for $380. Since then, the main digital asset has risen to $19,000. Having invested in bitcoin in 2015, today it was possible to record a 4900% profit. However, it would require iron nerves not to sell the asset in 2017, during the rally. Hmm, I wish I had a time machine... But now there is a lot of technology, which makes cryptocurrency trading easier [Removed Link] Good luck to you!

There seems to be a huge influx of bots and spam account since the last update. @mods may want to look into it.
 
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EA-6B

Starting to Get Obsessed
Feb 22, 2020
206
650
I made this technical chart a day after the "big crash" earlier this year.
"3-6 month" is now. Another congrats to BTC.
btcforecast-png.80884
 

lawdawg

Lifer
Aug 25, 2016
1,792
3,812
I'm an investor, and certainly not a gambler. I don't need self-discipline to avoid gambling or trading securities like a gambler, as I don't find gambling compelling in the first place. That said, I have invested a few bucks in crypto.

Most of my self-managed investments are in ETFs. I have about 5% of my self-managed portfolio in crypto (maybe 2% of my overall portfolio, excluding real estate). It's a small enough allocation that I don't really care if I lose it all. The upside potential is worth the risk to me considering the comparatively small allocation. I was hardly an early adopter on crypto, but I'm already up about 50% on my investment.
 

lawdawg

Lifer
Aug 25, 2016
1,792
3,812
I have a small Equity investment in a crypto coin processing/clearinghouse, but that is as close as I will get to this stuff.

The only way to make money is to get in first and get out first. Of course if you all want to buy and sell it, I will be happy to take my taste as it goes through the processing house albeit, that's almost as risky...

I'm curious, would you be willing to share the name of the company (or ETF?) you've invested in? I'm curious, and have been interested in investing in crypto-adjacent businesses rather than crypto itself.