Cryptocurrency Discussion Thread

[Vulcan 3,254]

So yeah, I've recently gotten into Cryptocurrency...Not the mining aspect mind you, but the Exchange bit. I dunno , It just seems kind of fun to dink around with it, anyways,  I'd like to know the community's thoughts on Cryptocurrencies in general ^ ^

 

Edited April 23, 2018 by Vulcan

[Mesme Rize 15,683]

I am not that much into it. But hey, it's apparently a good way to make more money in the future by investing in them.

The guy who invested in bitcoin in 2010 for the lulz is now a millionare.

[The Kaeya Simp 13,988]

I wish I was old enough to invest in bitcoin back in 2010,

I'd've been a millionare

[Vulcan 3,254]

22 minutes ago, Sherbert Music-Guard said:

I wish I was old enough to invest in bitcoin back in 2010,

 

52 minutes ago, Mesme Rize said:

The guy who invested in bitcoin in 2010 for the lulz is now a millionare.

 

I get that , I've seen a lot of folks wishing they'd invest back in the hyper profitable days, But I don't think the deadline for high profits ended in 2010...I mean, If I had invested  in Bitcoin just late last year, it would've Doubled by Today...(Quadrupled if yah managed to sell it during the Christmas Rush)...not sure if the deadline's passed , but it does make yah think

[The Kaeya Simp 13,988]

5 minutes ago, Vulcan said:

 

 

I get that , I've seen a lot of folks wishing they'd invest back in the hyper profitable days, But I don't think the deadline for high profits ended in 2010...I mean, If I had invested  in Bitcoin just late last year, it would've Doubled by Today...(Quadrupled if yah managed to sell it during the Christmas Rush)...not sure if the deadline's passed , but it does make yah think

I think that it's became a bubble,

I think the cryptocurrency bubble will burst fairly soon,

It might even cause the economy to crash

[Vulcan 3,254]

1 minute ago, Sherbert Music-Guard said:

I think that it's became a bubble,

I think the cryptocurrency bubble will burst fairly soon,

It might even cause the economy to crash

True , That's a real possibility, and a scary one at that o_o 

[The Kaeya Simp 13,988]

3 minutes ago, Vulcan said:

True , That's a real possibility, and a scary one at that o_o 

Do you recommend any Cryptocurrency to invest in now before it crashes?

[Guest]

I've been meaning to invest a little into it. Like anyone would tell you, I'd say you should learn as much about it as you can and only invest what you don't mind loosing. See what happens. 

[Vulcan 3,254]

25 minutes ago, Sherbert Music-Guard said:

Do you recommend any Cryptocurrency to invest in now before it crashes?

I'm afraid I can't do that, I'm pretty new to it myself and any cryptocurrency other than Bitcoin is a lot more high risk.

if you're lookin' to just play around with it...just for the fun of it, Bitcoin seems to be the most stable...and most easily acquired, Its price has risen by about 10 percent since 2 weeks ago. 

For Myself, I've decided to take a big risk with a good chunk of my spare cash on Verge, because it's fairly cheap at the moment and I think it'll make really good returns within the next few weeks...Not saying you should do the same, It's pretty much just as much a gamble as everything else.

 

[The Recherche 29,968]

It seems like another trend of sorts, though with a much greater benefit; people who invested way back then are probably swimming in cash now. Though I'm sure Bitcoin (and many other cryptocurrencies alike) will probably be around for quite a while, I'm not sure how long they'll be valuable.  Personally, i would invest in Gold and Silver sooner than I would invest in Bitcoin or other cryptocurrencies; precious metals have stood the test of time incredibly well, and most likely will for years to come.

I'm not very well versed on this subject, though, so take what I say with a grain of salt! 

Edited April 23, 2018 by Recherche

[Denim&Venöm 18,989]

I'm not convinced. The ups and downs they're having? Cryptocurrency is a huge risk. The bubble will burst and burst soon. It is not established and therefore faith in it, the very faith that gives it it's value, can be lost easily. 

If you're gonna invest, do it with something that has a proven track record. In a commodity people still value or always need. 

Gold and silver are obvious choices, but so is something like WD-40. People use that everyday. Same with oil. People always need oil. Real estate is a safe bet. For the most part, new land is not being made, so there will always be a steady value on what already exists. 

[Prospekt 11,018]

As a staunch libertarian, lover of capitalism, and skeptic of fiat money, it's only natural that I'm interested in cryptocurrencies. But I'm not really in a situation where I can actually afford to invest any more than a tiny bit of money. If the world of cryptocurrency continues to grow, I may take a stab at it someday.

[ZethaPonderer 2,199]

Consider me skeptical just as much as how I'm still skeptical on Bitcoin for being a form of currency. But, as long as crypto-currencies have been proven to be safer and more beneficial as a tool than the current currency system the world is dealing with than I'll decide if I wish to join in.

Not so much of a capitalist. I don't adhere to any man-made political ideologies such as communism, fascism, socialism etc etc.

So on my stance, Money is just a tool to me to get by with the scarce resources of our planet. I don't bother investing in money to make more money long-term. Don't see the point to it honestly if I'm not gonna bother spending on my needs and wants (to some extent).

[Anneal 2,197]

13 hours ago, Sunset Rose said:

I've been meaning to invest a little into it. Like anyone would tell you, I'd say you should learn as much about it as you can and only invest what you don't mind loosing. See what happens. 

BIT-CONEEEEEEECT!

If you're going to invest into cryptocurrency, make sure you don't buy into any potential scams and don't invest more than you can afford to lose. 

[Here No Longer 5,276]

I'm more than skeptical, I (and most people I know) think cryptocurrencies are a scam, frankly.

Nothing whatsoever backs it, and there's little actually determining it's value aside from what it's deemed to be worth by the people who manage the currency. Even with the US's badly managed fiat currency, it's at least backed by SOMETHING and it isn't completely determined by how much some person out there thinks it should be worth.

[Twiggy 2,966]

Theoretically, once it gets to the point where mining is no longer possible, the value should somewhat stabilize to where it can be used as it's own currency. The problem is, the vast majority of people don't look at it as a currency, instead opting to buy low and sell high like with volatile stocks. The bigger problem is that if cryptos are ever to succeed as a currency, they must be disassociated from the Dollar, a proposition that I am skeptical of at best.

I put about $10 out of each of my paychecks into crypto, only because I know that hype will likely build up again at some point in the future and I liek money. As for long term investing though, I'll stick to gold and silver.

 

1 hour ago, A Wild Barik Main said:

Nothing whatsoever backs it, and there's little actually determining it's value aside from what it's deemed to be worth by the people who manage the currency. Even with the US's badly managed fiat currency, it's at least backed by SOMETHING and it isn't completely determined by how much some person out there thinks it should be worth.

As far as I can tell, the major cryptos such as Bitcoin and Litecoin are decentralized, so there isn't anyone actually managing them, though I wouldn't doubt that this is true for some of the other ones. Also, the value of the Dollar and Bitcoin are both driven by market forces, so they're actually both the same in that regard, Bitcoin being far more volatile obviously.

[Vulcan 3,254]

Update of about a week's worth of playing around in the cryptotrading world, 

So far I really love it, I tried to get into stock markets in the past but the fees were always a deterrent to me...but with exchanges like Bitrex and Binance...It's given me the opportunity to give it a shot with the spare change I had laying around and so far It's given me a bit of insight into how the stock market works and even if I only made a bit so far, It's honestly been pretty educational as a tool in learning business and finance...

It's like the world's most complicated strategy game...except you're going against players and bots from around the world. 

'course I wouldn't recommend anyone placing their life savings into it, nor even a chunk off their salaries...it makes for a fun afternoon with pocket change, but it's definitely not stable enough at its infancy for any major investment. 

afraid I can't do that, I'm pretty new to it myself and any cryptocurrency other than Bitcoin is a lot more high risk.

if you're lookin' to just play around with it...just for the fun of it, Bitcoin seems to be the most stable...and most easily acquired, Its price has risen by about 10 percent since 2 weeks ago. 

For Myself, I've decided to take a big risk with a good chunk of my spare cash on Verge, because it's fairly cheap at the moment and I think it'll make really good returns within the next few weeks...Not saying you should do the same, It's pretty much just as much a gamble as everything else.

 

 

Wew...Verge currency soared to 30%! Woo! Past Vulcan...We just made 5 Bucks!...I mean...It's not a lot...but considering we dinked around with around 15...It's pretty decent...I guess I'll try Sys next...It's price'll likely drop like bricks after it's upgrade...but It's tech is pretty solid and I'm thinkin' it could go up in a couple weeks.  

Edited May 1, 2018 by Vulcan

[Jon the VGNerd 885]

Although I was skeptical about Bitcoin for months, it seems I gave CryptoTab a chance, and so far it looks alright. It usually mines itself on certain times, but at a snail's pace at best without posting a link as a means to boosting profits.

And the majority of people were awfully skeptical regarding sharing links, but CryptoTab looks pretty safe and easy to earn without putting too much stress on the CPU. Anyway OP, here is the link if you wanna go for it: https://get.cryptobrowser.site/3598284

[robbyfine77 1]

Actually I believe that te best time to Bitcoin was 7 yrs ago. The second best time is right now. But you should learn about it before you invest. Bitcoin is so much more than an investment. It’s taking control of your own money. You decide when and where your money goes. 

[Star Petal 215]

Cryptocurrency is just Tulips. It's the south sea bubble 2.0 and anyone who will ever invest in it will be brought to ruin. Especially those who invested heavily in the thousands when it was only 12 dollars for a coin. There is already stories of people who joined early to mid game who have lost tens of thousands of dollars and are in debt now because of the crash. It will go up, sky rocket and then crash hard core again one more time before utterly failing and once it does, all other coins will fail with them with maybe, MAYBE a few clinging onto obscure internet sub culture groups in the dark web for use for trading for cp, drugs and hit men like the majority of bit coin is used for already. Every penny wasted on it could had been money spent on real money, like stocks in a legitimate company that sells an actual tangible government regulated and recognized product that has tangibility and substance to its value and use. I will never waste a single penny on it. 

[Lucky Bolt 35,063]

Crypto...curry, what another now? 

[Dreambiscuit 9,692]

I don’t understand cryptocurrency, where it’s acquired or how it’s used. It sounds like something for tech-savvy people to use and I am decidedly NOT tech-savvy.  

[Fluttershutter 2,457]

Okay, WTF is it? I understand it's digital currency but what gives it value and what the hell is mining it? 

Edited November 1, 2019 by Fluttershutter

[Magpie 623]

All money is fake, but crypto is faker still and is also destroying the planet. We as a species would be far better off by abolishing the concept...

 

That said I did make like 12k on DOGE the past few months, saw an easy opportunity and took it. Got out right before "DOGE day" as that was an obvious time for a dump. 

[Axel 1,059]

Crypto market crashing heavy right now. Honestly its mostly Dogecoin's fault for this because it just got wayyyy too high and caused most people to look at crypto as a joke since doge is a meme crypto. So now the whole crypto market is bleeding heavily bitcoin dropped below $50k for the first time since Elon bought a lot of it.