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Bitcoin-Explain to me how to buy these things (1 Viewer)
- Thread starter Sheriff Bart
- Start date
jvdesigns2002
Footballguy
The only cryptocurrency that I own any of and believe in is bitcoin. I don’t own much and luckily I got in very early to where it’s easy to hold. With that said—the last time I posted in this thread was when I said that while I believed in Bitcoin, that people should really consider investing in gold, silver and the precious metals back in early to mid 2022. I got barraged by crypto purists about how precious metals are antiquated and are a waste on an investment. Make no mistake—I’m not pounding my chest by any means. I just want to show how crypto purists might do themselves a favor to open their minds up to listening to and understanding different points of view instead of having tunnel vision and the pre-programmed response to always slam the notion that having some exposure to precious metals might make some sense.
Nathan R. Jessep
Footballguy
I don't know a lot about precious metals or that market, but I think both gold and silver are solid long term plays. That being said, they won't sniff the potential returns of some of the game-changer crypto projects. I'll just say that looking at the projections for BTC, it could very well take over Gold (which is the current leader) as top asset by market cap within the next 10 years. Just look at where it sits now and look at the others in the list. BTC is a baby and its on the porch with the big dogs. The thing to consider is, at least for now, that almost all of the alt coins (anything that is not BTC, including ETH) are coupled with BTC's price action. I don't know how long that trend will continue, but my guess until a lot of the
coins are weeded out and the viable, sustainable projects remain. But regardless of that, when BTC rises, and it will, it will pull up the alt coins. Some of those have HUGE gain potential. Research into the solid projects and diversification, of course, is paramount.
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jvdesigns2002
Footballguy
Listen—you don’t have to convince me about crypto (and namely bitcoin imo). I’m open to them being successful—but you just proved the point I’m making. You cryptofanatics cannot handle a conversation about something like precious metals without feeling obliged to follow it up with how amazing crypto is—and how something “won’t sniff” it’s returns. It’s like a pre-programmed response—and frankly— it’s that attitude that makes crypto such a turnoff to a lot of people. Crypto has been around for 13 years—and the impact that it has made on the planet has been nominal at best. It made life easier for traffickers, dealing drugs internationally, scamming people and being a foundation for a plethora of Ponzi schemes. Thirteen years is a long time—so let’s not act like it hasn’t had an opportunity to have an impact. Look how cell phones evolved in their first 13 years. Look how the internet evolved in its first 13 years. Crypto hasn’t exactly come a long way in 13 years. Even if you are a huge crypto person—there is nothing wrong with also being a huge fan of precious metals. I’m a huge fan of Luka Doncic. Guess what, I’m also a huge fan of Giannis. It’s okay to love a couple of things.I don't know a lot about precious metals or that market, but I think both gold and silver are solid long term plays. That being said, they won't sniff the potential returns of some of the game-changer crypto projects. I'll just say that looking at the projections for BTC, it could very well take over Gold (which is the current leader) as top asset by market cap within the next 10 years. Just look at where it sits now and look at the others in the list. BTC is a baby and its on the porch with the big dogs. The thing to consider is, at least for now, that almost all of the alt coins (anything that is not BTC, including ETH) are coupled with BTC's price action. I don't know how long that trend will continue, but my guess until a lot of the
All of the stuff you said about crypto is potentially true. I don’t disagree. However, there is also a far greater risk with crypto. When cryptofanatics tout crypto—it’s funny how they never bring up the fact that the potential for it to crumble completely down to nothing is possible and poses a risk.
Nathan R. Jessep
Footballguy
Alrighty then. Sorry to have offended you jvd. I'll bow out. And I'm not a cryptofanatic by any means. I don't even have a ton invested. I just read a lot. I find it interesting and I think it's way more of a chance for a small investor like myself to make way more substantial gains than other assets in a shorter timeframe. And I'd surely think anyone would know about the risks of crypto by now. I don't think that's a big secret. Some will definitely go to zero. Gold will not. Some will 10-100x in 2-5 years. Gold will not. That's all I was really saying.
jvdesigns2002
Footballguy
I think my reply may have come across as harsh towards you. That was not my intention. I would be lying to you if I told you that the ”to the moon” narrative about the future potential value of crypto didn’t annoy the heck out of me. That’s just a fact and I won’t deny it. However, I think that people sometimes forget that the best kind of investing is disciplined investing. I feel like a lot of crypto-fanatics somehow forget this concept. Crypto has a lot of upside—and the cost of that upside is a TON of risk. If you want to invest in crypto in the most disciplined fashion—you’d want to support coupling that MASSIVE risk with a very stable hedge. Gold has proven to be a very stable hedge that also has some upside. It couples perfectly well with what a disciplined crypto investor should consider. That’s my point. That point can exist without a diatribe of how investing in gold is money wasted and opportunity lost compared to investing fully in crypto.
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KGB
Footballguy
Im in for the quick money. I have no allegance to anything stock or crypto.
Granted, this is my gambling account im talking about, 90% is in safe things
jvdesigns2002
Footballguy
That is beautiful. I feel like If you are a crypto advocate that you should mention that you are high on it, think that there is the potential for big quick money, but to also inform people that you only set aside 10% for this upside that carries risk. You are hedging your crypto with other (90%) safe investments—and I’ve never heard you try to discourage and talk people out of investing in those safe assets. Go back and read though a lot of this thread. Anytime somebody mentions anything positive about other investments, there are a lot of cryptofanatics that have to chime in to give their 2 cents on how no other asset compares to crypto. After a while—it gets horribly annoying. It’s not just unique to this place-by the way. I come across it in other forums, and in face to face conversations with people that are big into crypto. It just feels like a massive oversell.
KGB
Footballguy
Personally,. Im not trying to sell anyone. I just post what I do as kinda a blog for myself. I wish luck to anyone that survived this bear market. crypto or stock. I hope its over soon.
I kinda got lucky (so far) in that I have ALOT invested in things that havnt come out yet, so I missed alot of the downside weve been experiencing. Assuming my stuff actually comes out, it will have been very lucky timing.
Or it doesnt come out and I've lost a huge bag. Wish me luck!!!!!
jvdesigns2002
Footballguy
Absolutely. I wasn’t trying to single out any particular individuals in my pseudo-rant. In brutal honesty—I probably should have put my rant in the ”pet peeve” thread because it’s not like I’m against crypto. I believe that it has upside (my personal belief is that bitcoin is the cream of the crop, I do think that other cryptos will do well—but that there also an ocean of crap coins out there)—but I think that every person on the planet has to be honest with themselves and admit that crypto does carry a lot of risk. You yourself mentioned that you have allocated 90% of your investments into more stable places—which is great. My pet peeve is this. So many crypto people just keep touting crypto (they never mention the downside potential in their touting)—and the moment any body else mentions the notion of investing in something else—they immediately have to dismiss that notion and give a soliloquy about how no investment will come close to crypto—and how crypto is going to change the world—even though it’s done very little to change our lives in 13 years. The worst part is that most of these advocates are hypocritical. Most of them have done pretty well in investing in things like equities and real estate (the homes that they live in)..etc. Lastly—if you were to ask these advocates if they felt comfortable and confident enough to put 100% of their net worth in crypto—the majority of them would say no. If somebody is going to go out of their way to write a soliloquy about how no investment strategy will compare to crypto—then I want to see them believe in it enough to where they pull all of their other investments out—and put it in crypto. The fact is that the vast majority of them wouldn’t do it—but they speak and act like they would. How many people in this thread do you think would be willing to put all of their investment portfolio in crypto?
Personally,. Im not trying to sell anyone. I just post what I do as kinda a blog for myself. I wish luck to anyone that survived this bear market. crypto or stock. I hope its over soon.
I kinda got lucky (so far) in that I have ALOT invested in things that havnt come out yet, so I missed alot of the downside weve been experiencing. Assuming my stuff actually comes out, it will have been very lucky timing.
Or it doesnt come out and I've lost a huge bag. Wish me luck!!!!!
KGB
Footballguy
Well, since its just chattingAbsolutely. I wasn’t trying to single out any particular individuals in my pseudo-rant. In brutal honesty—I probably should have put my rant in the ”pet peeve” thread because it’s not like I’m against crypto. I believe that it has upside (my personal belief is that bitcoin is the cream of the crop, I do think that other cryptos will do well—but that there also an ocean of crap coins out there)—but I think that every person on the planet has to be honest with themselves and admit that crypto does carry a lot of risk. You yourself mentioned that you have allocated 90% of your investments into more stable places—which is great. My pet peeve is this. So many crypto people just keep touting crypto (they never mention the downside potential in their touting)—and the moment any body else mentions the notion of investing in something else—they immediately have to dismiss that notion and give a soliloquy about how no investment will come close to crypto—and how crypto is going to change the world—even though it’s done very little to change our lives in 13 years. The worst part is that most of these advocates are hypocritical. Most of them have done pretty well in investing in things like equities and real estate (the homes that they live in)..etc. Lastly—if you were to ask these advocates if they felt comfortable and confident enough to put 100% of their net worth in crypto—the majority of them would say no. If somebody is going to go out of their way to write a soliloquy about how no investment strategy will compare to crypto—then I want to see them believe in it enough to where they pull all of their other investments out—and put it in crypto. The fact is that the vast majority of them wouldn’t do it—but they speak and act like they would. How many people in this thread do you think would be willing to put all of their investment portfolio in crypto?
Personally,. Im not trying to sell anyone. I just post what I do as kinda a blog for myself. I wish luck to anyone that survived this bear market. crypto or stock. I hope its over soon.
I kinda got lucky (so far) in that I have ALOT invested in things that havnt come out yet, so I missed alot of the downside weve been experiencing. Assuming my stuff actually comes out, it will have been very lucky timing.
Or it doesnt come out and I've lost a huge bag. Wish me luck!!!!!
I think you care too much about others opinions lol. Screw the haters on anything. If you like it, you like it, if you dont, you dont. its not our job to police the crowd. I could be wrong but it feels like you are taking peoples opinions too serious. A lot of people are ALL IN!!!! for $250. Doesnt mean thats wrong for them. but its just a different scenario that mine. and they never tell you how much they have invested. A couple of times I made a mistake and said how many shares I had and regret it.
Anyways, I dont care if someone likes my plays or doesnt. There are some VERY smart people on here, and when they talk, I listen and research. for instance, someone linked an article about the HEX founder being a scammer. it freaked me out and I sold. but then I researched and figured out that , that info was kinda old. But I still appreciated it. MANY of the smart people in the stock thread have been wrong at least short term.
I dont know about other forums, but I think iin this forum, we mostly are just trying to be helpful. Or maybe I just skip over the controversial stuff.
I'm rambling lol
For me, i kinda did go "all in" as I took pretty much all of my gambling account and moved it into crypto. Granted. if it goes bust, id be pretty upset as its alot of money for me. Luckily, I have my own wallet, so I didnt get whammied by FTX, etc. Luckily I have my own wallet. And I did my part even writing up "how tos" in this thread and offering help to any who didnt have thier own wallet. Im just here bloggin away and trying to help.
I go into some pretty controversial/ risky stuff, so no one should follow me unless its a blackjack bet lol
I wish you and all of us the best of luck
KGB
Footballguy
Oh, I wanted to mention, BTC is not dead IMO. I like your pick for a "safe" 3X.Absolutely. I wasn’t trying to single out any particular individuals in my pseudo-rant. In brutal honesty—I probably should have put my rant in the ”pet peeve” thread because it’s not like I’m against crypto. I believe that it has upside (my personal belief is that bitcoin is the cream of the crop, I do think that other cryptos will do well—but that there also an ocean of crap coins out there)—but I think that every person on the planet has to be honest with themselves and admit that crypto does carry a lot of risk. You yourself mentioned that you have allocated 90% of your investments into more stable places—which is great. My pet peeve is this. So many crypto people just keep touting crypto (they never mention the downside potential in their touting)—and the moment any body else mentions the notion of investing in something else—they immediately have to dismiss that notion and give a soliloquy about how no investment will come close to crypto—and how crypto is going to change the world—even though it’s done very little to change our lives in 13 years. The worst part is that most of these advocates are hypocritical. Most of them have done pretty well in investing in things like equities and real estate (the homes that they live in)..etc. Lastly—if you were to ask these advocates if they felt comfortable and confident enough to put 100% of their net worth in crypto—the majority of them would say no. If somebody is going to go out of their way to write a soliloquy about how no investment strategy will compare to crypto—then I want to see them believe in it enough to where they pull all of their other investments out—and put it in crypto. The fact is that the vast majority of them wouldn’t do it—but they speak and act like they would. How many people in this thread do you think would be willing to put all of their investment portfolio in crypto?
Personally,. Im not trying to sell anyone. I just post what I do as kinda a blog for myself. I wish luck to anyone that survived this bear market. crypto or stock. I hope its over soon.
I kinda got lucky (so far) in that I have ALOT invested in things that havnt come out yet, so I missed alot of the downside weve been experiencing. Assuming my stuff actually comes out, it will have been very lucky timing.
Or it doesnt come out and I've lost a huge bag. Wish me luck!!!!!
institutions are buying crypto. and I think they start in BTC
Nathan R. Jessep
Footballguy
re: BTC (and consequently, everything else) price rally (blurb from an email):
Bitcoin gained 2% over the past 24 hours to reach about $21,200. It's a two-month high. FTX-chaos-related losses have been restored.
Risk assets generally are steaming beanpots stoked by growing suspicions of looser money around the bend. Rampant too are suspicions about the current rally's staying power, Cointelegraph said.
Theories about whales choreographing exit strategies have gained momentum alongside the largest digital asset. Analysts are nosing around order book compositions suggesting supply/demand dynamics skewed toward a short-term bid-up to exploit thin upside liquidity.
A CryptoQuant blog post flagged potential demand insufficiency, as evidenced by BTC moving back to exchanges for sale, while at the same time stablecoin supplies have dwindled.
“More demand is needed for the rally to be sustainable,”
The thin upside liquidity portion is what catches my attention, bc it's what I've seen from one of my other main sources, that not a lot of others are paying attention to I don't think. I think I mentioned before in here but there are far more pools of liquidity to the downside than there are to the upside from this price point.
KGB
Footballguy
HEX buy $0.020662 for quite a bit
nomics.com
HEX Price, HEX Live Chart, All-Time High & Market Cap (USD) | Nomics
HEX / HEX price. Real-time & historical HEX data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x2b591e99afe9f32eaa6214f7b7629768c40eeb39
nomics.com
KGB
Footballguy
I think there are ways to get this for free.
nomics.com
not sure how yet though
There are scams out there so be careful. I see people I know doing it though. so, im only assuming someone did their homework. I have not
Looks like its for HEX stakers
Communis Price, COM Live Chart, All-Time High & Market Cap (USD) | Nomics
Communis / COM price. Real-time & historical COM data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x5a9780bfe63f3ec57f01b087cd65bd656c9034a8
nomics.com
not sure how yet though
Communis
communis.app
There are scams out there so be careful. I see people I know doing it though. so, im only assuming someone did their homework. I have not
Looks like its for HEX stakers
KGB
Footballguy
SOld @ .024 for a nice profit.HEX buy $0.020662 for quite a bit
HEX Price, HEX Live Chart, All-Time High & Market Cap (USD) | Nomics
HEX / HEX price. Real-time & historical HEX data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x2b591e99afe9f32eaa6214f7b7629768c40eeb39
moved into SHIB
SHIB Price
$0.00001128
KGB
Footballguy
SHIBSOld @ .024 for a nice profit.HEX buy $0.020662 for quite a bit
HEX Price, HEX Live Chart, All-Time High & Market Cap (USD) | Nomics
HEX / HEX price. Real-time & historical HEX data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x2b591e99afe9f32eaa6214f7b7629768c40eeb39
moved into SHIB
SHIB Price
$0.00001128
Just looking at the 1 week and 1 month chart
Shiba Inu Price, SHIB Live Chart, All-Time High & Market Cap (USD) | Nomics
Shiba Inu / SHIB price. Real-time & historical SHIB data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
nomics.com
KGB
Footballguy
So, I'm hesitant to post this. Yes, this guy has been called a scammer, yes, hes doooscy, yes the SEC, is going to do an investigation into if he paid people to promote his coin. Which I do not believe since he wont even pay to get listed on coin market cap.
But I think he has legit points. like crypto and how it out performs real estate. I was thinking about buying real estate when it crashes. My current house I purchased around 2009 10. and up 4X but I dont think most are. and thats over 10-13 years!
a 4X in crypto is nothing.
www.youtube.com
But I think he has legit points. like crypto and how it out performs real estate. I was thinking about buying real estate when it crashes. My current house I purchased around 2009 10. and up 4X but I dont think most are. and thats over 10-13 years!
a 4X in crypto is nothing.
Richard Heart explains Why you should put all your money in crypto!
Clip from https://www.youtube.com/watch?v=lW8h09B5YAw&t=2172sSupport the Channel ✔Donate to HEX Address ⬇0x2664320A2DadDC7b41db1727c8d03e3082a6734DBuy & Sta...
www.youtube.com
Captain Cranks
Footballguy
I don't think 6 months has changed anything for the arguments of either side.
jvdesigns2002
Footballguy
What argument? The argument of mine that states that while I’m a believer in crypto—that being all in on it is risky and that people should consider coupling it with other investments like precious metals? Once again a typical crypto fanatic shows up and proves my point. I’ve literally said in every post that I’m not anti-crypto and that I believe that it has upside (namely bitcoin). And once again—just the notion that I say that and couple it with the concept that the precious metals should also be considered is now an ”argument“? Thank you for proving my point exactly. While I don’t agree with a lot of stuff in this documentary—one of the foundations of it is that one of the pillars required for crypto to be successful is that hype is required for it to stay relevant.
Crypto: The World’s Greatest Scam.
Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.*...
www.youtube.com
Captain Cranks
Footballguy
I honestly don't know who you're talking at or about. However, you seem to be on some "I was right" soapbox as though something's been proved in six months.What argument? The argument of mine that states that while I’m a believer in crypto—that being all in on it is risky and that people should consider coupling it with other investments like precious metals? Once again a typical crypto fanatic shows up and proves my point. I’ve literally said in every post that I’m not anti-crypto and that I believe that it has upside (namely bitcoin). And once again—just the notion that I say that and couple it with the concept that the precious metals should also be considered is now an ”argument“? Thank you for proving my point exactly. While I don’t agree with a lot of stuff in this documentary—one of the foundations of it is that one of the pillars required for crypto to be successful is that hype is required for it to stay relevant.
Crypto: The World’s Greatest Scam.
Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.*...
jvdesigns2002
Footballguy
Well maybe read my quotes and understand the point I’m making before just quoting ”that my side of the argument is wrong”. I’m pro-crypto—but pro-crypto in a disciplined manner where investors don’t put all of their eggs in one basket. Crypto is a highly risky volatile asset that should be coupled with safer and more stable investments imo. I believe that equities, real estate, and precious metals are all examples of investments that should be coupled with them. I also think it is a disservice and disgusting for anybody who promotes crypto to crap on the notion of investing in those other forms of assets unless they themselves are 100000% invested in crypto.I honestly don't know who you're talking at or about. However, you seem to be on some "I was right" soapbox as though something's been proved in six months.What argument? The argument of mine that states that while I’m a believer in crypto—that being all in on it is risky and that people should consider coupling it with other investments like precious metals? Once again a typical crypto fanatic shows up and proves my point. I’ve literally said in every post that I’m not anti-crypto and that I believe that it has upside (namely bitcoin). And once again—just the notion that I say that and couple it with the concept that the precious metals should also be considered is now an ”argument“? Thank you for proving my point exactly. While I don’t agree with a lot of stuff in this documentary—one of the foundations of it is that one of the pillars required for crypto to be successful is that hype is required for it to stay relevant.
Crypto: The World’s Greatest Scam.
Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.*...
jvdesigns2002
Footballguy
Yup.,typical. Keep up the peddling of the crypto hype that is required for the asset class to have any significant relevance. Answer this question- what significant utility has crypto provided to the masses in its 13 years of existence? My rant is about reminding people that disciplined investing is the best kind of investing. I’m sorry that “argument” or “rant” offends you. I’ll let you go and try to convince others to risk their hard earned money on an unstable asset while you trash the notion of anybody even recommending the possibility of investing in remotely stable ones that have established utility.
ConstruxBoy
Kate's Daddy
You know you're just yelling into the wind, right?
jvdesigns2002
Footballguy
To the crypto fanatics- sure- I am aware of it. To people that are on the fence about how much they should comfortably invest in crypto- my words might carry some value. Thats for them to decide
Captain Cranks
Footballguy
You got "peddling of the crypto hype" from what I said, eh? What exactly did I say to you to peddle hype?
jvdesigns2002
Footballguy
Go back through the thread and read every response you have given me anytime I give the notion that people who also believe in crypto should also consider investing in precious metals. You and some others have given resistance any and every time that notion is brought up. That is the automatic and necessary response by crypto fanatics. The hype around crypto and the promise of revolutionary technology and the promise of meteoric quick returns is required for people who have moderate to significant exposure to it to make money. Very rarely do cryptofanatics spend any meaningful time discussing the risks of it-and very rarely do people discuss that for a lot of people to make money on crypto that a lot of people need to lose money in the chain. Very few people “use” crypto—-they just view it as a vehicle to hold that they can flip for money and leave somebody else with losses. There is a reason why the vast majority of crypto schemes involve the early investors profiting in real assets (bitcoin, dollars, arguably ether—but even thats iffy..etc) while the vast majority of others are left with a bunch of junk sh*tcoins or meaningless NFT’s.
Out of the tens of thousands of crypto currencies out there—how many do you think are legit versus how many were pump and dump schemes? Up to this point in time—the main utility of crypto has been for pump and dumpers, ponzi schemes and speculators.
The blockchain is limited to how many transactions it can process per second—so it’s not great for conducting transactions outside of illicit and illegal activities. If one wanted to argue that bitcoin is a “currency”—that would be arguable because there is a finite number of them—and because of that—anytime one gets mined—scarcity goes up—and that’s why most people want to hold it. Currencies are supposed to motivate commerce—they are not optimized when the owners of it don’t want to spend them. If one wants to argue that it is a store of value—that’s fine. What’s most important for a store of value? I’d say how many people accept it and adopt it as being a legitimate store of value. Go around the world globally—you’ll have a far easier time finding people that adopt and accept precious metals versus those that accept bitcoin. I won’t even get into the other coins because they are issued by people/companies with their own interests. They can release more coins at a whim, they can manipulate the markets—the exact same way the governments do. This is exactly why the vast majority of coins that are issued by people (and not programs like bitcoin) have left most people that have invested in them at a loss. It’s also the only reason why the only crypto that I own and consider investable right now is bitcoin.
I have nothing against crypto as long as it is being honestly marketed and explained—and honestly—most of the people that comment in here are threatened by anybody that brings that up or recommends that people couple their crypto investments with stable ones. I admire @KGB because he doesn’t crap on other investment ideas, he‘s honest that he’s allocated only 10% of his funds towards crypto while keeping 90% in more stable holdings/assets, he is generally honest about how he knows what he is doing is risky—and frankly—it seems like he’s doing it right. He understands that a lot of crytpo is hype based and speculative and he jumps in and out of stuff to make a profit. He’s not standing on some pedestal acting like it’s some revolutionary technology or breakthrough and making promises that other investments aren’t going to “sniff” it.
By the way—I’m still curious of your answer. After 13 years of existence—what major utility has crypto brought to the world that has made life better for masses? The internet evolved a lot in its first 13 years. Cell phone and computer technology evolved a ton in 13 years. Electric cars and their technology have impacted many peoples lives for the better in 13 years. What has crypto done?
Nathan R. Jessep
Footballguy
Since you are directly quoting me with that part, I'll interject myself here. jvd, I know you mean well here, but you're coming across poorly. This is the crypto thread. You came parasailing into here with some pretty hot takes about non-crypto assets, you being pro-crypto aside. You also seem to be assuming, just because people haven't explicitly stated what percentage they are investing in crypto, that they must be investing in 100% crypto and poopooing all other investments. Nobody with a brain is doing that. Anyone posting in this thread and making crypto investments almost certainly knows the risk involved. If they have looked at the price charts more than one day in a row, they know. You also need to consider that not all of us are day or swing trading, which is where researching these investments comes heavily into play. KGB is playing the short term game for the most part with his buy and sell posts. Others are playing the long game and waiting for the bull market. And I 100% agree some, maybe even most, of these thousands of projects will go to zero. The good ones will not. Blockchain technology is not going anywhere. I stand behind my "sniff" statement, but what you are missing from that, and perhaps because I didn't state it explicitly, is that the ones I believe have that potential have (a) a good development team (b) a solid list of companies/entities investing in them or with them and (c) most if not all of them are already in real-world use or at least in test stages. I did not in any way mean something like throw a dart at a list of cryptos and go all in on it, you can 100x with no problem. I hope it didn't come across that way.
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jvdesigns2002
Footballguy
I understand that this the crypto thread and I’ve basically mentioned that I own bitcoin and am bullish on it moving forward in almost every post I made. With that said—I still reserve the right to mention concerns and hesitations about an asset class (that I even own) without getting all of my thoughts crapped on. Even you can’t answer the question. After 13 years—what utility has crypto provided to make the world better for large masses of people? It’s funny how nobody wants to answer that simple question. I’m not asking what crypto and blockchain “can do”—because that is a speculative answer. What major value or utility has crypto brought the world after 13 years of existence?
SFBayDuck
Footballguy
If you want to up your level of Twitter engagement ask that question in a pro-crypto thread, preferably with someone with laser eyes on their profile pic. I did that once months ago, and that thing still gets responses here and there from the 🚀 BTC to $1M because it's the perfect form of money and it's changing the world 🚀 crowd. The only example I ever got was sending money overseas among the "unbanked", but nothing else. "Yes but how can I use BTC today?" just got the same pseudo-religious responses over and over.
And yes, like you, I own crypto, although most of the BTC and ETH I did own is locked up in the BlockFi debacle and likely lost forever (it was like a .5% allocation of my overall investment portfolio, but I was growing that by DCAing when it was shut down).
jvdesigns2002
Footballguy
Thank you. Finally somebody that is honest and can give an objective answer without the need for trashing an opinion. The “changing the world” and the same repetitive blockchain responses about the future are hype required for people to make money out of crypto. Until crypto provides the world a legitimate utility where it betters the lives of masses of people—the cryptofanatics are incentivized to create this “FOMO” perception of the asset class. The whole “well it hasn’t done much yet—but you’re not going to want to miss out on it when it actually starts to do something” crowd. I’d think that after 13 years—that a little bit of hesitation and questioning should be warranted.
Nathan R. Jessep
Footballguy
A couple of things first, the rah rah guy that was in here a while back, I did not agree with everything he said. Can't recall his name. And second, IMO, BTC will be one of the best long term crypto investments simply because it's BTC. It started the crypto industry, plain and simple. That being said, there are many more lucrative and useful projects out there right now, and yes plenty that are currently in use. There are many sectors of crypto, each with good and bad projects of course, and that's where the research comes in. How many examples would you like? Here are a few:
Gaming - which, my personal opinion, will become one of if not THE main crypto sectors that will thrive:
Illuvium - a popular, and still growing, interoperable (web3 cross-platform environment) blockchain game
Banking -
Ripple Labs (creator of the XRP crypto token) - Yes the one in the court case with the SEC to rule if it's a security or not. It's built to be a global payment processor to replace the SWIFT protocol (the leading money transfer network in the world). They have a list of partners on their website, including Bank of America. I think they will have more, once the court case is done. I don't think the court case will have any bearing on them making it or not. They're already established and have their own XRP blockchain that people are building projects on. It's cheaper and faster than the BTC and the ETH blockchain networks.
General crypto ledger network-
Hedera (token HBAR): It's own blockchain ledger network with many developing projects in the works and many already in use (NFT marketplaces for example). On the governing board of Hedera sit Google, IBM, LG, and Ubisoft to name a few. Much faster, cheaper and more efficient than both BTC and ETH networks.
Play to earn-
There are many 'play to earn' games up and running right now. Illuvium mentioned above is one. Axie Infinity ($AXS) is another really popular one.
Scaling solutions-
I think this is one of the most enticing categories. Some of these are going to be the game changers, IMHO. Some of these take existing blockchain technologies (like BTC and ETH) which are limited in what they can do and they allow them to run at a cheaper and faster and more efficient pace. Some of them take something like the ETH network and allow it to be able to "talk" to other blockchain networks, which it cannot do on it's own; so sort of like a translator. Examples of this in use right now are Polygon Matic ($MATIC) and ImmutableX ($IMX). There are many more.
There are other categories and I could go for longer than you'd care to read
But there are just some that come to mind that are in use right now.
Gaming - which, my personal opinion, will become one of if not THE main crypto sectors that will thrive:
Illuvium - a popular, and still growing, interoperable (web3 cross-platform environment) blockchain game
Banking -
Ripple Labs (creator of the XRP crypto token) - Yes the one in the court case with the SEC to rule if it's a security or not. It's built to be a global payment processor to replace the SWIFT protocol (the leading money transfer network in the world). They have a list of partners on their website, including Bank of America. I think they will have more, once the court case is done. I don't think the court case will have any bearing on them making it or not. They're already established and have their own XRP blockchain that people are building projects on. It's cheaper and faster than the BTC and the ETH blockchain networks.
General crypto ledger network-
Hedera (token HBAR): It's own blockchain ledger network with many developing projects in the works and many already in use (NFT marketplaces for example). On the governing board of Hedera sit Google, IBM, LG, and Ubisoft to name a few. Much faster, cheaper and more efficient than both BTC and ETH networks.
Play to earn-
There are many 'play to earn' games up and running right now. Illuvium mentioned above is one. Axie Infinity ($AXS) is another really popular one.
Scaling solutions-
I think this is one of the most enticing categories. Some of these are going to be the game changers, IMHO. Some of these take existing blockchain technologies (like BTC and ETH) which are limited in what they can do and they allow them to run at a cheaper and faster and more efficient pace. Some of them take something like the ETH network and allow it to be able to "talk" to other blockchain networks, which it cannot do on it's own; so sort of like a translator. Examples of this in use right now are Polygon Matic ($MATIC) and ImmutableX ($IMX). There are many more.
There are other categories and I could go for longer than you'd care to read
But there are just some that come to mind that are in use right now.
SFBayDuck
Footballguy
Appreciate the thoughtful reply. The gaming use cases makes sense I guess, although they mostly seem like ways to entice people to dump fiat currency into the gaming companies' ecosystems and entice players to spend and play more so the gaming companies make more money. Back in the 80s I could send pictures to Activision of my Pitfall high scores and they'd send me patches. Maybe I could have sold the patches in a speculative, secondary market. But really it was just to keep me playing Pitfall and buying their next game so I could get more patches. This just seems like the evolution of that, but I'm not a gamer and finally got my 25-year old, VR goggle-wearing step son out of my garage last year, so I admittedly don't understand that world. (cue old man yelling at clouds meme)
Most of the examples that really make sense to me are really more about blockchain technologies. Money transfer, supply chain/inventory tracking, that kind of thing. But why do we need all these coins for that? From my admittedly limited understanding, BTC and ETH are so inefficient and slow that they're still essentially useless at processing transactions at scale. And yet many seem to think those are the two "blue chips" of the crypto world. As you said there are much faster blockchain projects in existence and in the works, but it seems so fragmented I'd be curious how any of them gain enough market share to be relevant, especially as so many around them are pure ****coin "projects" at best and scams at worst.
My gut tells me that in the end, governments will just issue their own stable coins that can be used to support most use cases, and all of these others will fade away. Doesn't mean some money can't be made speculating along the way, of course, which is the whole reason I've dabbled.
Most of the examples that really make sense to me are really more about blockchain technologies. Money transfer, supply chain/inventory tracking, that kind of thing. But why do we need all these coins for that? From my admittedly limited understanding, BTC and ETH are so inefficient and slow that they're still essentially useless at processing transactions at scale. And yet many seem to think those are the two "blue chips" of the crypto world. As you said there are much faster blockchain projects in existence and in the works, but it seems so fragmented I'd be curious how any of them gain enough market share to be relevant, especially as so many around them are pure ****coin "projects" at best and scams at worst.
My gut tells me that in the end, governments will just issue their own stable coins that can be used to support most use cases, and all of these others will fade away. Doesn't mean some money can't be made speculating along the way, of course, which is the whole reason I've dabbled.
jvdesigns2002
Footballguy
None of the things you mentioned require crypto to exist- and the notion that the existence of crypto making them superior is once again speculative. At this moment in time- after 13 years- give me ONE utility that crypto has provided the world to make life easier/better for the masses. You keep mentioning projects. I’m not asking that. The fact is- the only thing that crypto has successfully done in 13 years is make a few people some money and costed a great deal many people a lot more money. Thats just the reality of the situation. I’m not hating on you- but crypto fanatics dont even understand that their responses are programmed into them.A couple of things first, the rah rah guy that was in here a while back, I did not agree with everything he said. Can't recall his name. And second, IMO, BTC will be one of the best long term crypto investments simply because it's BTC. It started the crypto industry, plain and simple. That being said, there are many more lucrative and useful projects out there right now, and yes plenty that are currently in use. There are many sectors of crypto, each with good and bad projects of course, and that's where the research comes in. How many examples would you like? Here are a few:
Gaming - which, my personal opinion, will become one of if not THE main crypto sectors that will thrive:
Illuvium - a popular, and still growing, interoperable (web3 cross-platform environment) blockchain game
Banking -
Ripple Labs (creator of the XRP crypto token) - Yes the one in the court case with the SEC to rule if it's a security or not. It's built to be a global payment processor to replace the SWIFT protocol (the leading money transfer network in the world). They have a list of partners on their website, including Bank of America. I think they will have more, once the court case is done. I don't think the court case will have any bearing on them making it or not. They're already established and have their own XRP blockchain that people are building projects on. It's cheaper and faster than the BTC and the ETH blockchain networks.
General crypto ledger network-
Hedera (token HBAR): It's own blockchain ledger network with many developing projects in the works and many already in use (NFT marketplaces for example). On the governing board of Hedera sit Google, IBM, LG, and Ubisoft to name a few. Much faster, cheaper and more efficient than both BTC and ETH networks.
Play to earn-
There are many 'play to earn' games up and running right now. Illuvium mentioned above is one. Axie Infinity ($AXS) is another really popular one.
Scaling solutions-
I think this is one of the most enticing categories. Some of these are going to be the game changers, IMHO. Some of these take existing blockchain technologies (like BTC and ETH) which are limited in what they can do and they allow them to run at a cheaper and faster and more efficient pace. Some of them take something like the ETH network and allow it to be able to "talk" to other blockchain networks, which it cannot do on it's own; so sort of like a translator. Examples of this in use right now are Polygon Matic ($MATIC) and ImmutableX ($IMX). There are many more.
There are other categories and I could go for longer than you'd care to read
I’ve commented in the stock thread about people considering and evaluating stocks that the market is down on- and people are receptive to it and mention they will look into them. I mention precious metals in the stock thread- and people dont hate blindly. You say one thing in here that says- hey- you might want to consider balancing out your insanely risky investment in crypto- and its “you’re shouting into the wind”, and “this is the crypto thread- what do you expect”. I’d personally expect and INVITE a slightly contrarian point about crypto in the crypto thread.
jvdesigns2002
Footballguy
Gaming for actual money has existed for a while. Thats not a new thing. Secondly- crpto has not made that concept any better. Look at cryptozoo. There have been multiple gaming for crypto programs that were ponzi schemes that costed people lots of money. By the way—the game NJ mentioned in his reply axie infinity was mentioned in the very video link that I posted above. Watch the video and go to approximately the 44 minute mark. The game was created by a VC firm that has been complicit in a numerous amount of pump and dump schemes.
Crypto: The World’s Greatest Scam.
Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.*...
www.youtube.com
A lot of the stuff he mentioned is once again the “potential” that crypto has to offer- but none of them are clearly examples of how crypto has fundamentally changed the world for the positive for masses of people. At this point in time crypto and its revolutionary technology has screwed a lot more people than it has helped.
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KGB
Footballguy
Sold for a bit. SHIB $.00001233SOld @ .024 for a nice profit.HEX buy $0.020662 for quite a bit
HEX Price, HEX Live Chart, All-Time High & Market Cap (USD) | Nomics
HEX / HEX price. Real-time & historical HEX data, exchange rates, charts, ATH, & market data priced in USD, JPY, KRW, EUR, etc. Contract: 0x2b591e99afe9f32eaa6214f7b7629768c40eeb39
moved into SHIB
SHIB Price
$0.00001128
into usdc.
let see what we find next
Captain Cranks
Footballguy
The only person I recall ever having a conversation about precious metals with is Ren. That was regarding Bitcoin's store of value thesis. Regardless, none of us should be telling other people what to invest in since we don't know anyone else's financial situation, goals, and existing portfolios.
Back to the start of this conversation, though, I don't understand why you're trying to pat yourself on the back regarding precious metals. Nothing has changed about the narratives of crypto or precious metals in the last 6 months. Blockchain tech is here to stay. The industry is still fraught with scams and corruption, but future billion dollar projects are being built right now. Meanwhile, gold and silver haven't kept up with any meaningful measure of inflation for over a decade. If you bought an ounce of gold near the highs in 2011, you'd be flat in USD terms. Meanwhile the M2 money supply is up 2.5X during that time, so that ounce of gold lost 60% of its buying power.
Nathan R. Jessep
Footballguy
Welp. The big dip I was hoping for may not happen now that we've trended above a crucial support price. Have seen that call by a couple of analysts in the last couple days as we were at the borderline (~$21,500). https://dailyhodl.com/2023/01/21/ve...-pullback-below-20000-now-very-very-unlikely/
Ah well, can't time the absolute bottom. May be time to deploy a few funds. #notfinancialadvice
Ah well, can't time the absolute bottom. May be time to deploy a few funds. #notfinancialadvice
Nathan R. Jessep
Footballguy
My main guy says it's 50/50 right now. He deployed some sizable funds. We broke above (for 2 days in a row) the high water mark prior to the FTX debacle. Several crypto chart indicators flashing bullish market signals, but S&P still might supersede all that on the macro level and bring us back down, since we are still seeing large scale layoffs at major companies, Putin is still Putin, all of China is infected with Covid, interest rates will rise again, debt ceiling nonsense, etc. etc.. So the old 12-14K call may still be in play depending on other market events. 🍀
KGB
Footballguy
Hey Buddy, looking for a nice short term flyer. PM if needed. I think im going to add to my hex tonight. looking to look into something else. like something that has gone down for no reason lol
KGB
Footballguy
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