Anybody on the board invested in crypto? Thoughts on crypto in general and if you dislike it please say why.
Bitcoin/Crypto
- Thread starter Patterson825
- Start date
I put a couple grand into Bitcoin a year ago. I own about 1.2 Bitcoins. Going to let it ride for 10 years and see what happens. What the heck!
Well you really need to understand what the utility and purpose is behind each project and what they are trying to achieve. (Facebooks Libra comes across as somewhat serious but has some flaws but is years away) You need to understand what Proof of Work, Proof of Stake, Consensus blockchains are and the pros and cons behind each. There are over 1000 types of tokens out there with 97% being nothing but pump and dump ICOs to grab money from the gullible. Also unlike the stock market TA really doesnt apply in the crypto world as its all currently whale manipulation even though there are plenty of folks trying to TA the crap out of the market. It is such at the beginning stages that regulation isnt even in place yet. However its getting there. KYC and AML are being adopted.
logistically you also have to determine which exchanges you want to sign up for as many lack the proper security and get hacked frequently. I would also suggest getting a "hard" wallet and store whatever you purchase there and keep your tokens off the exchanges until your ready to transact.
but my opinion is crypto is going to be here to stay it solves some problems that state backed fiat doesnt
Crypto will be here to stay as more and more platforms accept them for payment.
Bitcoin may win out, the most optimal valuation is if Bitcoin ever takes over gold, each coin would be worth roughly $400,000.
There are a finite number of bitcoins, I believe it is 21 million, although the way Bitcoin is created, the full amount will never be in circulation. This creates a cap in supply, and it is what will eventually drive the value up as more people want them.
The time to buy was a few months ago, but if you have some money that you want to swing for the fence with, put some money into an account and buy even a tenth of a coin. Hold for long haul.
Bitcoin may win out, the most optimal valuation is if Bitcoin ever takes over gold, each coin would be worth roughly $400,000.
There are a finite number of bitcoins, I believe it is 21 million, although the way Bitcoin is created, the full amount will never be in circulation. This creates a cap in supply, and it is what will eventually drive the value up as more people want them.
The time to buy was a few months ago, but if you have some money that you want to swing for the fence with, put some money into an account and buy even a tenth of a coin. Hold for long haul.
I'd stay away from Facebook Libra. It will only be a matter of time until someone has their Libra account suspended for 30 days because they posted something Facebook didn't like.
My retirement strategy consists of buying lots and lots of lottery tickets, and for diversification, I day trade bitcoin on unregulated exchanges.
I'll let you know how it works out.
I'll let you know how it works out.
This is actually a very scary scenario. Don’t let anyone accuse you of wearing the foil hat either. I can very easily see where a cryptocurrency combined with a social score means bad news for any dissenters.
Cryptosporidium is bad news. I’d avoid it.
Wasnt really advocating it other than it has brought some mainstream attention to the crypto space this past week. But yes to your point sound to me a like a controlled option which the whole point of the serious cryptos is to be decentralized and not have a central control point. Secondarily Facebook has had serious data security issues now people are to trust them with KYC/AML and their money?
While I would never touch anything to do with Facebook, I don’t have an account. Why would they have kyc and aml issues? They are not regulated by occ/fed etc. would I trust them. Hell no. But like any nonbank they avoid that. But I fully expect congress to been regulating this and other fintech stuff.
I'm definitely in the crypto game. It's like this exciting rollercoaster that's reshaping finance. Sure, it's got its ups and downs, but that's part of the thrill, right? I've been exploring the crypto universe and stumbled upon something called a white label cryptocurrency exchange. It's like a personalized toolkit to dive in and make your mark. Just like crypto itself, it's all about finding your groove. But hey, I get that not everyone's on board. Some folks might find the volatility unsettling or worry about security. It's like a mixed bag of opinions, and that's what makes these discussions interesting.
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Global Ponzi scheme. The thing is, with billions of potential owners, no one knows when it will fall apart. Could be next year, could be in 50 years.
Worse than a Ponzi scheme.
No one knows who invented it. So no one knows who has access to all the data. Imagine what someone, some government, some terror organization could do with that data.
Could it be a US Treasury product? CIA? Some foreign government or terrorist organization?
Maybe it is part of the global governance crowd that wants control over the world’s currency?
Not saying it is one of these but no one can say it isn’t,
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Hey there, fellow board members! 🌟 I've dipped my toes into the crypto world, and I must say, it's been quite the rollercoaster ride! 😄 Overall, I think crypto has some exciting potential - the tech behind it is mind-blowing. I've also heard some positive buzz about Immediate Edge. Remember, always do your research and stay cautious. If you're not a fan of crypto, I'd love to hear your reasons too. Let's keep this discussion open and learn from each other's perspectives! 🚀🤝
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You should check out what the chatbots are up to if you want something really interesting.
