Cryptocurrency

[RockinPA]

Originally Posted by 435eye

For hardware wallet I use the Ledger Nano S and no complaints so far, though I only hold 6 coins. Since I'm in Canada I started by watching the Crypto For Canadians channel on YouTube. There's a lot of Canada and Ontario-specific content, but he also goes over fundamental concepts and he does a great job of posting update videos as things change and certain content/advice becomes obsolete.

I recommend CoinMarketCap if you're looking for an app to keep track of your portfolio and record transactions.

The ledger is looking like a great option. I need to buy a hardware wallet still. I have about 6 also… mostly alt coins.

I didnt coinmarketcap did that too! That's great info. Thank you!

Originally Posted by E93_Savage

45mil SHIBA just holding for now I'm up triple my investment until it moves bought in last year early though.

Yeah, I hold a small amount of SHIB too. It's my wild card. I only have like 20 mill. I am always tempted to buy more… lol.

[iminhell1]

Originally Posted by Oskarosh

I don’t know why but I always tend to think that cryptos are some kind of soap bubble and will disappear soon. Maybe I am not right in this regard, but they have made such an impression on me.

The problem lies in the 'currency' portion. That implies the ability to purchase goods or services with it.

[x622]

Originally Posted by RockinPA

The ledger is looking like a great option. I need to buy a hardware wallet still. I have about 6 also… mostly alt coins.

I didnt coinmarketcap did that too! That's great info. Thank you!



Yeah, I hold a small amount of SHIB too. It's my wild card. I only have like 20 mill. I am always tempted to buy more… lol.

Ledger is trash in terms of software support. Grab a Trezor Model T and call it done.




As for it being a currency -

I've bought cars, boats, computers and their parts, miners, transformers, panels, cables, swithgear with crypto. Is that not enough? Not sure about the shitcoins and I'm not sure with Vitalik trying so hard to go to POS, but BTC will be around.

[e90335e36m3]

Originally Posted by Oskarosh

I don’t know why but I always tend to think that cryptos are some kind of soap bubble and will disappear soon. Maybe I am not right in this regard, but they have made such an impression on me.

I agree. Although I know IT IS used to purchase goods and services, I personally don't know anybody who does. The only people that I know that are and "knowledgeable" about it are all recent high school and college grads, it seems very generational to me. Similar to NFTs. If something like BTC was trading at $500/share, I might have taken a risk. From $3,000 to $60,000 a share in 3 years? Seems purely speculative. I think there's more certainty in a solid ETF doubling than BTC going from $60K to $120K. Or $25K back to $50K for that matter.

Also the fact that there are so many of these "coins". A new one pops up every day and is deemed a second coming. They can't all be.

I see videos from YouTube channels like FinalStand, where they pump trash like dogecoin "to the moon" every day and all these kids in the comments blindly following that advice. Makes me sick.

The reward just isn't worth the risk to me.

[ASAP]

Something that isn't regulated by a true central bank isn't a currency... also if you can no longer "mine" or earn currency it falls under the same category... as say some bs trading tool.

[kfollowwill]

Eth took a beating while I was asleep. I treat crypto as any other asset class.

[Tyga11]

Should I hold ETH or get out? I'm in at $3200

[x622]

Originally Posted by Tyga11

Should I hold ETH or get out? I'm in at $3200

You already done goofed. Hold it and wait for the merge.

[Seaford]

Take a step back….

- what is cryptocurrency p; answer is ‘nothing tangible’
- is cryptocurrency regulated ; that is a resounding ‘NO’
- how did the stuff that Matt Damon was pushing at The Super Bowl do: it tanked
- have cryptocurrency and exchanges been fraud free ; absolutely not
- does anyone REALLY know why it fluctuates wildly; absolutely not, other than supply and demand kicks in when people think they can buy in and make a quick buck and sell out in panic when it goes the other way . The clever people are the ones that bet against the market while watching the naive investors fill their boots

My last salaried employment was in a prestigious private bank…..we looked long and hard at whether we should embrace cryptocurrency as a client product and it didn’t take many seconds at all to decide we could destroy our reputation overnight by being in that market.

In summary my personal view is that if you have money that you are prepared and can afford to lose if it all goes wrong then go for it. Otherwise steer well,clear!

[Nachbar]

Buy low, sell high. Repeat.

[e90335e36m3]

Originally Posted by Seaford

Take a step back….

- what is cryptocurrency p; answer is ‘nothing tangible’
- is cryptocurrency regulated ; that is a resounding ‘NO’
- how did the stuff that Matt Damon was pushing at The Super Bowl do: it tanked
- have cryptocurrency and exchanges been fraud free ; absolutely not
- does anyone REALLY know why it fluctuates wildly; absolutely not, other than supply and demand kicks in when people think they can buy in and make a quick buck and sell out in panic when it goes the other way . The clever people are the ones that bet against the market while watching the naive investors fill their boots

My last salaried employment was in a prestigious private bank…..we looked long and hard at whether we should embrace cryptocurrency as a client product and it didn’t take many seconds at all to decide we could destroy our reputation overnight by being in that market.

In summary my personal view is that if you have money that you are prepared and can afford to lose if it all goes wrong then go for it. Otherwise steer well,clear!

In a nutshell. If regular stocks are a black box, crypto is a black hole in the galaxy. Way, way more speculative than stocks, unless that stock is GME, then it's on par.

[NothingButToast]

Originally Posted by Seaford

Take a step back….

- what is cryptocurrency p; answer is ‘nothing tangible’
- is cryptocurrency regulated ; that is a resounding ‘NO’
- how did the stuff that Matt Damon was pushing at The Super Bowl do: it tanked
- have cryptocurrency and exchanges been fraud free ; absolutely not
- does anyone REALLY know why it fluctuates wildly; absolutely not, other than supply and demand kicks in when people think they can buy in and make a quick buck and sell out in panic when it goes the other way . The clever people are the ones that bet against the market while watching the naive investors fill their boots

My last salaried employment was in a prestigious private bank…..we looked long and hard at whether we should embrace cryptocurrency as a client product and it didn’t take many seconds at all to decide we could destroy our reputation overnight by being in that market.

In summary my personal view is that if you have money that you are prepared and can afford to lose if it all goes wrong then go for it. Otherwise steer well,clear!

To be fair, you sound extremely biased against it. Also the fact that it took "seconds" to decide doesn't make it sound like you all made an educated and informed decision.

As with anything, to each their own. Crypto will either be here for the long term or it won't, who knows.

[P1]

Crypto will go down as one of the biggest scams of the 21st century.

[Nachbar]

Originally Posted by P1

Crypto will go down as one of the biggest scams of the 21st century.

I would bet against it.

[Seaford]

Originally Posted by NothingButToast

To be fair, you sound extremely biased against it. Also the fact that it took "seconds" to decide doesn't make it sound like you all made an educated and informed decision.

As with anything, to each their own. Crypto will either be here for the long term or it won't, who knows.

We spent a long time looking at it - it doesn’t take many seconds to make a decision when the decision is obvious.

And yes, I am extremely biased against it. Ask Anyone who has made money on crypto exactly why they have made money. Bet you won’t get an answer.

it’s the financial equivalent of The Wild West.

And,, “to be fair” to me I did say that if you can afford to take a financial hit in a high risk market in a highly speculative basis then go for it. If you can’t afford to take a hit then don’t.