Crypto

RDU Irish

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I keep coming back to this as why E2.0 has me holding. Having someone explain crypto as a platform instead of a currency was the first time it started to click why there would be big growth, and so you want to look at the developer ecosystem around these. The ETH ecosystem has so many developers that I don't know how another platform reaches critical mass without a really unique tech/functional offering.

If anyone is curious about E2.0: https://ethereum.org/en/eth2/

I have two main problems with crypto

1) If the problem with fiat currency is over supply when they run the printing press, how is that worse than crypto that has exponentially increasing supply?

2) How can these be a long term store of value if any can be disrupted by a better mousetrap overnight (on the "platform" level) and on the "store of value" level just as ridiculous to call something a store of value that is up or down 10% any given hour with everyone "investing" with the hope of hitting it big.

I very vaguely get the value of the tech but the whole system looks like actively traded ponzi schemes to me.
 

RDU Irish

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That said - if I were more tech savy I would probably find a way buy like $10 worth of 100 different shit coins and sell half of any 4x move, putting half of that in some other shitcoins and pocket the other half. Total gambling mindset that would be more entertaining than the $60 in free coinbase money I am rolling - seems they are only trading more established options, I want the shittiest of the shit.
 

Ndaccountant

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I have two main problems with crypto

1) If the problem with fiat currency is over supply when they run the printing press, how is that worse than crypto that has exponentially increasing supply?

2) How can these be a long term store of value if any can be disrupted by a better mousetrap overnight (on the "platform" level) and on the "store of value" level just as ridiculous to call something a store of value that is up or down 10% any given hour with everyone "investing" with the hope of hitting it big.

I very vaguely get the value of the tech but the whole system looks like actively traded ponzi schemes to me.

I can't shake the notion of how expensive it is relative to other companies. For example, Bitcoin market cap is nearly double of Tesla. I think we all know that Tesla's run up is predicated on a significant projection of what it could become, not what economic value it will bring in FY 2021.

Ethereum has a market cap that is nearing $500B itself. Again, people are projecting value that is equitable to the value that Tesla COULD bring. We all know there are numerous players that could derail Tesla. But to think about all the possible "platforms" for crypto that seemingly sprout up weekly, I just don't know how a valuation like that is justified.
 

Henges24

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Has anyone found a reasonable way to buy Polkadot? It seems quite difficult for Americans. The transferring part of it gives me hesitation too.

Looks like it is available through Trust Wallet via Pancake Swap.

It won’t be the most ideal way to buy in but it is easily possible if you know how to navigate Pancake Swap.
 

Sherm Sticky

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I have two main problems with crypto

1) If the problem with fiat currency is over supply when they run the printing press, how is that worse than crypto that has exponentially increasing supply?

2) How can these be a long term store of value if any can be disrupted by a better mousetrap overnight (on the "platform" level) and on the "store of value" level just as ridiculous to call something a store of value that is up or down 10% any given hour with everyone "investing" with the hope of hitting it big.

I very vaguely get the value of the tech but the whole system looks like actively traded ponzi schemes to me.

In regards to your second point that is why there are "stable coins" like USD Coin, Dai, Bi0nance USD, etc. Those would be and should be what is accepted as "store value".
 

RDU Irish

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I can't shake the notion of how expensive it is relative to other companies. For example, Bitcoin market cap is nearly double of Tesla. I think we all know that Tesla's run up is predicated on a significant projection of what it could become, not what economic value it will bring in FY 2021.

Ethereum has a market cap that is nearing $500B itself. Again, people are projecting value that is equitable to the value that Tesla COULD bring. We all know there are numerous players that could derail Tesla. But to think about all the possible "platforms" for crypto that seemingly sprout up weekly, I just don't know how a valuation like that is justified.

The whole "market cap" thing is tough for me. They are not really stocks - the better corollary would be the total circulation of US dollars or other currencies, or the total value of all gold. At least if we are buying in to the currency concept. Better yet may be the total value of Tulip bulbs in the 1630s, total value of all baseball cards, total value of all artwork, etc. Its worth what someone else is willing to pay and probably doesn't really take much to crash the price.
 

Wild Bill

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No suggestions? You guys dislike me that much? lol

Hard to give suggestions b/c I'm certainly not an expert and I'm comfortable with more risk than most but I'm fine with sharing what I own right now and you can go from there.

Chainlink, bitcoin and nucypher.

I've held all three for a little while and haven't bought much more recently. A bit of chainlink when it was in the low 30s and a bit of nucypher when it was in the low .40s.

I'm not sure I would buy more right now but I'm confident enough to hold so...shoulder shrug.

If I had your money, I'd throw mine away. WIth that said, if you're only throwing a couple hundred bucks at it, just have fun and use it as an opportunity to learn. That's basically what I did and figured out a few things.

RDU and Accountant have valid criticisms and from what I gather after years of reading their bullshit is that they are analytical and probably struggle with investing their money in something they do not fully understand. I'm similar in that regard so that was my biggest obstacle. I like real estate, dividends and consistent profits. But do you really have to fully understand something to make money? Hell no, this is America! Just take a look at my brother in law - he's as dumb as the day is long and he makes some money. There's one critical thing to understand and it's relatively simple. Buy low and sell high. Kinda easy.

Good luck!
 

Irish#1

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Thanks guys. I've read enough to know that there is a lot of smoke and mirrors with this stuff and know the risk and reward is there. I'm not concerned with investing $200 - $300 and losing it. Well I am, but it wouldn't be the end of the world or change my life. Thought it would be fun to jump in and see what happens. Any thoughts on Tether?
 

Ndaccountant

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Hard to give suggestions b/c I'm certainly not an expert and I'm comfortable with more risk than most but I'm fine with sharing what I own right now and you can go from there.

Chainlink, bitcoin and nucypher.

I've held all three for a little while and haven't bought much more recently. A bit of chainlink when it was in the low 30s and a bit of nucypher when it was in the low .40s.

I'm not sure I would buy more right now but I'm confident enough to hold so...shoulder shrug.

If I had your money, I'd throw mine away. WIth that said, if you're only throwing a couple hundred bucks at it, just have fun and use it as an opportunity to learn. That's basically what I did and figured out a few things.

RDU and Accountant have valid criticisms and from what I gather after years of reading their bullshit is that they are analytical and probably struggle with investing their money in something they do not fully understand. I'm similar in that regard so that was my biggest obstacle. I like real estate, dividends and consistent profits. But do you really have to fully understand something to make money? Hell no, this is America! Just take a look at my brother in law - he's as dumb as the day is long and he makes some money. There's one critical thing to understand and it's relatively simple. Buy low and sell high. Kinda easy.

Good luck!

If that is the case, I would only invest in hookers and blow.

My biggest hang up on crypto isn't that I don't understand it, it's that their are so many different options, it's incredibly difficult to pick a winner, or at least picking someone that has staying power. I could spread it around to various crypto's, but that would take time and effort on my part that I don't have.

One thing I did do though is look into ancillary companies that stand to gain with greater adaptation of blockchain. Disclaimer to everyone: This is not investment advice. There were three themes that I personally looked at....1) What does block chain rely on? 2) As it becomes "financialized", are there avenues / modes that will benefit? 3) Are the certain companies that are "faster" adaptors of blockchain?

For #1, I have looked at semiconductor companies. Now, I got really lucky with the worldwide shortage, but I have had big winner in NVIDIA. This was a true "investment". I have had a "trading play / play money move" in Investview for #2. Finally, for #3, I have been watching salesforce really closely and have started nibbling. The stock looks expensive on the surface, but it's incurred quite a bit of expenses on acquisition integration. Earnings later this month will be key. I have read where 10-15% of business have some sort of investment into blockchain, with the number expected to rise dramatically in the next two to three years, with the biggest jump coming in small to medium sized companies. Salesforce is in a good spot to capitalize on that IMO with their existing software. along with market share.
 

IrishRazor82

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I bought $2K of Eth yesterday. What a time to jump... Also, the wait times on RobinHood for transfer of funds between app and bank are atrocious. We're talking like 6 business days. What a trashy platform on performance. But it's the only place that would allow me to lose money on $Doge.
 

kzoondfi

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I bought $2K of Eth yesterday. What a time to jump... Also, the wait times on RobinHood for transfer of funds between app and bank are atrocious. We're talking like 6 business days. What a trashy platform on performance. But it's the only place that would allow me to lose money on $Doge.

Sorry if this is a dumb question but I have not taken the plunge yet. I am strongly considering trying out some safe amounts. Does that mean that in those 6 days you can lose/gain or is the difference locked in once you trigger the transfer? I have been reading and seeing a lot of difficulties with people transferring and also trying to pull out their money when they want to.
 

Irish#1

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ADA. Throw it in and come back in a year.

I don’t need to sell you, just look at the chart.

I got $100 of ADA thru Coinbase. My retirement and financial freedom are resting on this. lol

Trying to figure out what else to get.
 

beryirish

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Been checking out crypto for about a month now. The ones i'm in:

ADA via Coinbase
BTC via free money Coinbase
ETH via free money Coinbase
VET via Binance.US
XRP via Uphold
DOG via Voyager - play money not sure how to get out ahahaha - really check things out on how to get things in and especially out of exchanges and into your wallet
SHIBA INU via Coinbene - same as DOG. Not much - hard to find where to buy it so I found it and seemed good. Now hard to understand how to get it out. But this and DOG are minimal.
 

RDU Irish

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Hard to give suggestions b/c I'm certainly not an expert and I'm comfortable with more risk than most but I'm fine with sharing what I own right now and you can go from there.

Chainlink, bitcoin and nucypher.

I've held all three for a little while and haven't bought much more recently. A bit of chainlink when it was in the low 30s and a bit of nucypher when it was in the low .40s.

I'm not sure I would buy more right now but I'm confident enough to hold so...shoulder shrug.

If I had your money, I'd throw mine away. WIth that said, if you're only throwing a couple hundred bucks at it, just have fun and use it as an opportunity to learn. That's basically what I did and figured out a few things.

RDU and Accountant have valid criticisms and from what I gather after years of reading their bullshit is that they are analytical and probably struggle with investing their money in something they do not fully understand. I'm similar in that regard so that was my biggest obstacle. I like real estate, dividends and consistent profits. But do you really have to fully understand something to make money? Hell no, this is America! Just take a look at my brother in law - he's as dumb as the day is long and he makes some money. There's one critical thing to understand and it's relatively simple. Buy low and sell high. Kinda easy.

Good luck!

LOL - Lots of truth floating around in this retort. I am a more fundamentals focused value investor and I hate new tech - stick with what works, kind of guy. I rely on funds and ETFs for growth investing allocations b/c its just not how I am wired. Fertilizer stocks are my current obsession as I expect sustained higher crop prices to bring a return to 2012-13 prices. Never have been a momentum/technical guy - or at least never any good at it.

One of my most useful MBA classes was "Commercializing Innovation" - innovation itself does not pay the bills and often fails financially. In such a rapidly changing marketplace as crypto I just see more people being lucky than good. As this washes out there will probably be 10 loser coins for every 1 that has staying power and those with staying power risk becoming disrupted damn near nightly.

Agree with NDAccountant that the arms dealers will probably be the long term winners as they are in every war. I'll play around with it enough to raise my awareness level - probably end up putting a few 100% discretionary dollars in the mix for the fun of it. I don't think RH/CB increasing access and participants will be jump the shark moment but could easily see big players manipulate the market and milk the masses (i.e. Dogecoin founders dump and Elon moves on to Shiba). Same point, if Coinbase had Doge six months abo I probably would have bought $100 and sit back to enjoy the shitshow.
 

Irish#1

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LOL - Lots of truth floating around in this retort. I am a more fundamentals focused value investor and I hate new tech - stick with what works, kind of guy. I rely on funds and ETFs for growth investing allocations b/c its just not how I am wired. Fertilizer stocks are my current obsession as I expect sustained higher crop prices to bring a return to 2012-13 prices. Never have been a momentum/technical guy - or at least never any good at it.

One of my most useful MBA classes was "Commercializing Innovation" - innovation itself does not pay the bills and often fails financially. In such a rapidly changing marketplace as crypto I just see more people being lucky than good. As this washes out there will probably be 10 loser coins for every 1 that has staying power and those with staying power risk becoming disrupted damn near nightly.

Agree with NDAccountant that the arms dealers will probably be the long term winners as they are in every war. I'll play around with it enough to raise my awareness level - probably end up putting a few 100% discretionary dollars in the mix for the fun of it. I don't think RH/CB increasing access and participants will be jump the shark moment but could easily see big players manipulate the market and milk the masses (i.e. Dogecoin founders dump and Elon moves on to Shiba). Same point, if Coinbase had Doge six months abo I probably would have bought $100 and sit back to enjoy the shitshow.

This to me has the same feel as the internet explosion. A lot of tech companies popped up and then didn't have the staying power.
 

Henges24

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I got $100 of ADA thru Coinbase. My retirement and financial freedom are resting on this. lol

Trying to figure out what else to get.

Good buy. It had a nice spike today. I think it touches $2 this weekend if the crypto market recovers.
 

ResLife Hero

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I bought $2K of Eth yesterday. What a time to jump... Also, the wait times on RobinHood for transfer of funds between app and bank are atrocious. We're talking like 6 business days. What a trashy platform on performance. But it's the only place that would allow me to lose money on $Doge.

The instant cash makes it easy to buy, but yeah, withdrawals usually take about 3 business days for me. Try getting money out of Bovada...
 

GATTACA!

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Sorry if this is a dumb question but I have not taken the plunge yet. I am strongly considering trying out some safe amounts. Does that mean that in those 6 days you can lose/gain or is the difference locked in once you trigger the transfer? I have been reading and seeing a lot of difficulties with people transferring and also trying to pull out their money when they want to.

I'm not sure if he's saying it took 6 days to link his bank account or for his deposit to clear. Linking your bank account does take a few day IIRC. But I don't think that has much to do with RH. It comes down to the bank that you're linking and the wait would be similar across many platforms.

Once your bank account is linked and you make a deposit it does take the money a few days to clear, but in the meantime RH lets you trade on margin amount you are depositing. Basically means you get your cash instantly while RH waits to actually be paid. There might be a limit to how much $ you can instant deposit though.
 

Mattmags

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Remarkable crash happening right now.

Bitcoin and Ethereum both down about 30%. My Gemini and Coinbase apps both crashed as well. coincidence? Too bad for those hoping to buy/exchange while it's low.
 

IrishLax

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We do have one where we talk crypto but no reason not to have another one.

Ripple and Doge are gambling. Can be fun, can make money, but one isn’t stable and the other is a literal meme.

I think a lot of us here are big on Chainlink and Ethereum. I made 30x on value from Chainlink from when Wildman — the IE crypto OG — first pitched it. But I cashed out when it went up to $50 this week and don’t plan on rebuying unless there is a dip below $40 because I got paper hands.

Even though it dropped to $30, I'm still not rebuying at the moment. The speed of the drop has me concerned that we're going to see a crypto crater and haven't seen the bottom yet. Will look for it to stabilize over a period of a few days before I get back in.
 

tussin

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Even though it dropped to $30, I'm still not rebuying at the moment. The speed of the drop has me concerned that we're going to see a crypto crater and haven't seen the bottom yet. Will look for it to stabilize over a period of a few days before I get back in.

You must be feeling like a genius with your exit. Congrats!
 

Cackalacky2.0

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Is this like trying to catch a falling knife? I don’t understand this at all
 

Henges24

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At least you can make a half of a percentage on USDT right now...
 
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