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|Initial D World - Discussion Board / Forums > Off - Topic Stuff > Cyrptocurrency TALK|
|Posted by: Steve May 24 2017, 08:32 AM|
| I have been following Bitcoin for a couple years now, but have been too puss to buy any. I still don't own any, but I did start looking into Ethereum. I've been keeping an eye on Ethereum any other alt-coins. Anyone else involved in the alt-coin "game'?
|Posted by: kyonpalm May 24 2017, 10:42 AM|
| Every time I tell myself to wait a bit for the BTC market to go down to buy, it spikes to a record high. After this last one, I decided to bite the bullet and invest a little, but I couldn't find a good service with low enough fees for the amount I want to invest. I just don't even want to think about it at this point, remembering seeing people sell BTC for chump change years ago makes me suicidal. And as of this post, I just checked the market and it's up another few hundred since I checked last week.
I don't know anything about other cryptocurrencies though.
|Posted by: ccmm Nov 11 2017, 06:40 PM|
|Bitcoin has been the best currency to invest in this year, its price has ended in this second week of November above $ 7450 per Bitcoin, and has been fantastic in its movement, You know https://alpari.com/en/faq/trading_terms/calculating_value_of_pip/ in derivatives of cryptocurrencies is too much, Its increase is due to many factors, one of which some financial institutions are trying to quote in them.|
|Posted by: RalliKai Nov 19 2017, 06:09 PM|
|Well Bitcoin is now sitting at just over $8000. Pending a cataclysmic crash, I'm staying out of the BTC game. I've been following Ethereum and Komodo though and hoping ETH will eventually fall back down under $250. Wishing I had gotten into cryptocurrency back in 2012.|
|Posted by: schouppeke Dec 3 2017, 03:14 AM|
|Well, i've been thinking to buy some bitcoin as well with the money i've saved. My intent was to then get a reasonably big profit and buy myself a decent car but i think it's a bit too late for that now haha. I suggest you just look at other cryptocurrency that might be successful, but from what i've seen is that other cryptocurrency isn't as popular as bitcoin.|
|Posted by: RalliKai Dec 7 2017, 07:01 AM|
| Bitcoin now at $16,000. It's only a matter of time though before the bubble bursts.
|Posted by: schouppeke Dec 11 2017, 12:12 PM|
|I've been thinking about buying myself about 25€ of ether to start with those cryptokitties purely for the money tho. I don't know if it's actually worth trying since i've heard a lot of negative comments about it too. Should i just buy ether and exchange when it's a good time to?|
|Posted by: Nomake Wan Jan 17 2018, 10:31 PM|
Image size reduced, original size: 1000 x 1000. https://i.imgur.com/wOX1tAt.png to view the image in its original dimension.
Mmm, mmm, mmm! Delicious cryptocurrency.
|Posted by: xiao Jan 18 2018, 03:19 AM|
| Warren Buffett's the only smart rich guy of his peers ..
Investing in actual physical stock is already a big enough risk .. let alone putting your financial stability on a video game like Final Fantasy currency ~ BTC is just gambling imo.
|Posted by: kyonpalm Jan 18 2018, 07:56 AM|
>listening to reddit or 4chan for crypto advice
Serves them right and has nothing to do with the viability of BTC as an investment.
I'll retreat back into my hole now, as I hate contributing to the crypto hype by publicly discussing it.
|Posted by: Nerubian Jan 18 2018, 08:12 AM|
|What really pisses me off about virtual currencies are the fucking high prices for video cards they cause because of miners.|
|Posted by: xiao Jan 18 2018, 01:17 PM|
| I'm of the opinion that every new generation finds crazier & crazier ways to spend the money they earn thru old fashioned physical labour. In the year 3000 AD ~ kids will probably be investing in the stock of Moon, Mars, or Jupiter rocks.
Personally I'm not opposed to spending or investing money on intangible goods like music or video games ~ because to me they're art .. ie. the actual product makes me feel good. But Bitcoin and other crypto currencies are more to me like a online poker game .. the pleasure it actually brings to you isn't in the product itself, but in watching your crypto numbers rise.
Back in 2007 I remember watching an episode of http://archive.org/details/crankygeeks_071_episode with Tech TV's John Dvorak ~ and remember thinking how amazing TrueCrypt & Cyber Security & Cryptography was .. I'm gonna leave this video here explaining how crypto currencies work for users that might stumble upon this topic and not have a clue what we're talking about：
|Posted by: umustwait101 Feb 3 2018, 07:43 AM|
| I see a few terms being tossed around. I think with appropriate expectations, unnecessary heartaches can be avoided.
I think there's three ways to think about spent money:
1. Consumption - the money you spend goes to 0, or is basically sunk. You will not be getting anything out of it. Think of buying food, cars, clothes, shoes, and computers.
2. Investment - the money you spend has a high likelihood of giving you money back, at least enough to make back what you initially spent. Think of buying healthy businesses, factories, farms, or learning new skills, etc.
3. Speculation - the money you spend may or may not give you money back. Think of buying houses, stocks and gambling.
If you treat your spending with the right expectations, then you won't be disappointed. That means, don't buy a car or a pair of shoes thinking you can sell it in the future for anywhere close to what you paid. Similarly, don't buy stocks or gamble with the assumption that you won't lose it all.
With that, bitcoin and cryptocurrency, in general, is speculation for the following reasons, that I see:
1. The value fluctuates, sometimes to extremes. It is a free market "currency", and its value is determined by what people want to pay for it. Given that everyone who is involved in it prioritizes getting the most money out of it over keeping the value stable, it is particularly susceptible to large swings, as people buy and hold when the value is rising, and sell when the value crashes, leading to positive feedback loops that propagate and magnify the effects.
2. It is not backed by any authority. It is not considered legal tender. Businesses may, at any time, decide whether to accept it or not as payment.
3. Similar to reason 2, but that your cryptocurrency funds are not guaranteed or insured in any way by any credible source, it can be lost, and there wouldn't be anything you could do about it.
Just as with other sources of speculation, cryptocurrency is risky, but there is the chance of making a lot of money. People have done it, just like how people were making lots of money during the peak of the stock market bubble of the early 2000s and of the housing bubble of the mid 2000s. It's about recognizing when you should buy and sell, and what risks you should recognize, and ultimately, whether you're fine or not with losing it all.
I think there's a few thoughts to always keep in mind: everyone wants to be rich, but few actually are. You don't get rich by doing the same thing everyone else is doing. The evidence just doesn't support that. The reward goes to the early bird. The ones who are early to the game are the ones who are typically successful. The ones who come in after seeing the successful early ones are usually the ones who are paying for the success of the earlier people at their own expense. The ones at the very end are stuck with footing the bill, often at the highest prices.
Finally, everyone is in charge of their own life, should make their own decisions, and reap the rewards of those decisions. Carefully evaluate the potential risks and rewards, and make an informed decision.
|Posted by: xiao Feb 3 2018, 01:55 PM|
4. Donation - you donate one dollar to the Texas/California lottery every week for the rest of your life .. and have a higher chance of being suctioned out of an airplane than winning the lottery ～ http://youtube.com/watch?v=eEDZuFw34YM
The technology (software & hardware) behind cryptography is an engineering marvel, however crypto-currency to me is still more like a game ..
Instead of "investing" money on a game like crypto-currency ~ why not invest that money in getting a university degree in mathematics, software, or hardware？
Because there's no fun or thrill in putting in years of study when all you're gonna get is a warehouse job at Nvidia w/ a degree in cryptography
|Posted by: Nomake Wan Feb 3 2018, 05:48 PM|
| And in other news, boom goes the dynamite.
|Posted by: xiao Feb 3 2018, 07:46 PM|
It kind of makes you wonder what the price of a Bitcoin is gonna be like when the 21 millionth coin is mined in the year 2140 AD ..
Person A：I'll give you two Ferrari's for a Bitcoin and my wife on the weekends！
Person B：No dice Satoshi！you should've told your pikachu to invest in gold bars before you were even born ~ ⚡
|Posted by: Nomake Wan Feb 3 2018, 08:58 PM|
|Posted by: xiao Feb 3 2018, 10:48 PM|
.. and knowing is half the battle！G.I. JOOOOOOOOE
|Posted by: Benny Apr 2 2018, 04:56 AM|
|I think bitcoin and all cryptocurrency will die soon.|
|Posted by: Nerubian Apr 4 2018, 06:59 AM|
Well at least Bitcoin closed with under $8000 for a bit over a week now ($6844.23 being the lowest value).
|Posted by: Nomake Wan Dec 1 2018, 07:59 PM|
Crypto holders on suicide watch again.
|Posted by: umustwait101 Dec 5 2018, 01:04 PM|
|Bitcoin is coming back down to reality. Still too expensive, tho, for my taste. I'll probably start hoarding it when they drop below $10 ea.|
|Posted by: RalliKai Dec 11 2018, 04:45 PM|
|Well if you've been holding out on picking up a higher end GPU due to the stupid high prices caused by mining, now is the time.|
|Posted by: umustwait101 Dec 11 2018, 09:32 PM|
or Nvidia stock.
|Posted by: kobiashvilitamta Sep 12 2019, 12:16 AM|
|I just have one simple question, is there going to be another bull run? I mean huge big bull run, just like in 2018|
|Posted by: sewag May 30 2020, 10:03 AM|
|For me, bitcoin is a mysterious commodity.|