Crypto currency

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DMan 11

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where do I start with this ?

I just thought a central general topic for discussion for anyone interested in this 'phenomenon' may get interesting.
I've been doing a lot of reading on the subject in the last couple of weeks after finally dipping the toe in as an investor (aka roller coaster passenger) some really good articles and opinions out there for both sides of the bitcoin debate.
I understand there are hundreds of alt currency along with all the trading platforms and commercial use programs .
It's a whole, brave new world out there and figure it well worth chatting about.
I'm sure there'll be some tales of woe and success, I'm more interested in articles, opinions around its use, the acceptance of it etc etc.
Have at it
 

Scatter

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I am not a full bottle on it, but it screams gambling to me. Like gold, or the AUD$, spec stocks or whatever, it seems less like an investment and more like a gamble that the price will go up without really knowing why. At least shares you get a dividend and the company fundamentals look good, so you are investing in the future profits. Sure prices go up and down, but generally buy for the long term.
I also don't like 'friends' on Facebook saying how much they are making, come and join and see. Sounds too much like a pyramid scheme.
I am sure people will make a lot of money on it, but I'm sure a lot will lose too.
 

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DMan 11

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Did anyone else watch/play the markets last night ?
Was pretty exciting sitting and seeing it tumble, only to turn back twice as fast.
While overall market cap took a hit on both BTC and BCH that was a pretty darn good trading period.
I jumped in and out and pretty happy - nice chrissie bonus !!
 

IAMJUNGLEMUFFIN

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The bus left long ago with BC. It has a tendancy for stupidly outrageous spikes at the best of times, but the hysteria currently is somewhere between mid 90's yo-yo and a fidget spinner.

If you're a propper visionary, I'd be building high end PC's and mining them.

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IAMJUNGLEMUFFIN

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Did anyone else watch/play the markets last night ?
Was pretty exciting sitting and seeing it tumble, only to turn back twice as fast.
While overall market cap took a hit on both BTC and BCH that was a pretty darn good trading period.
I jumped in and out and pretty happy - nice chrissie bonus !!
Red or Black next spin?

On [device_name] using BigFooty.com mobile app
 

IAMJUNGLEMUFFIN

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Actually, scrap the bit about being a visionary and mining them, just sell drugs or random profitable sh*t on Tor.

It scares me to think of the sort of money that dealers will be making by cashing out right now. There will be grandma and grandpa growers out there that are now multi millionaires, from growing literally a couple of wacky backy plants in the garden shed.






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Last edited:

poshman

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What platforms are people using to purchase? It has definitely improved in the last couple of years.
 

heypenny

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What platforms are people using to purchase? It has definitely improved in the last couple of years.
Absolutely, it's very easy these days. I use Coinbase and it's v good (this is in the UK however).

I understand the need and benefit of crypto so don't think it's a fad as others have predicted. I'm slightly concerned about its carbon footprint but it probably pales in comparison to the banking sector.

If you see it as investment - just don't go all in. It's important to diversify and hedge your bets. It's a wild ride man.
 

poshman

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Absolutely, it's very easy these days. I use Coinbase and it's v good (this is in the UK however).

I understand the need and benefit of crypto so don't think it's a fad as others have predicted. I'm slightly concerned about its carbon footprint but it probably pales in comparison to the banking sector.

If you see it as investment - just don't go all in. It's important to diversify and hedge your bets. It's a wild ride man.
It is an insane ride... having said that with what is happening with inflation now, I think we are in for a wild ride in more traditional investments.

Are you in anything other than Bitcoin?

I invested in Polkadot, Cardano, Eth - when it was $1400 and chainlink. I only invest weekly into a spread of three of those, with bitcoin automatically (or automagically as Andrei Jikh would say) in Bitcoin.
 

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MadDocker

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Honestly cant see BNB mooning, it's got a ridiculous market cap at the moment already. My feels are it's a fairly "safe" coin with Binance being as big as it is and the locked staking returns at ~6.5% make it handy to just hodl and have chipping away in the background as an inflation hedge.
 

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