Cryptocurrency Investment Thread - No Haters Please

(Topic ID: 207699)

Cryptocurrency Investment Thread - No Haters Please


By Spyderturbo007

1 year ago



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  • 156 posts
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  • Latest reply 7 days ago by Oliver47
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    There are 156 posts in this topic. You are on page 1 of 4.
    #1 1 year ago

    I realize that there is another Bitcoin thread, but I wanted to start this thread for people that are actively investing in cryptocurrency and want to discuss strategy, coins, wallets, exchanges, etc.

    If you hate cyrptocurrency and think we are all idiots, that's great and I'm happy for you. Feel free to start your own thread about how much cryptocurrency looks like a bubble, a tulip, or whatever else you think it might resemble.

    With that out of the way, let's talk about cryptocurrency investments!!

    I grabbed some MANA and BAT yesterday during the sale. I don't know why MANA interests me so much and I know it's a shot in the dark, but it looks really cool. It's a VR world where you can buy land, build structures, etc.

    I saw that they did their land auction for the main city a few weeks ago. To the tune of someone spending >$30,000 on a 10m x 10m piece of virtual property. And here I thought I was nuts for buying 2000 tokens. The other interesting thing was that all the funds used to purchase land (~87,000,000) were burned. It's only a small percentage of the total number of tokens in circulation, but it's interesting that it's getting burnt.

    Besides, they have a cool commercial, so it has to be legit, right?

    #2 1 year ago

    Edit: didnt read whole post

    #3 1 year ago

    Crypto is 100% in a bubble. Having said that even when there are bubbles certain key players emerge from the ashes. I got in on Dogecoin back when it first came out. HODLed them and when they went up to 2 cents each (when I started it was 14 cents for 1000) I converted it all to Cardano. Seems to be the best one moving forward and after the burst I see them being a key player. BTC is not entirely sustainable as by 2020 verifying a transaction could use as much electricity as the country of Denmark uses in 1 day. Cardano is proof of stake, and the first peer reviewed coin and backed by actual science. The founder was a cofounder of ETH so he is a smart dude.

    #4 1 year ago

    I wouldn’t worry about BTC. People will solve the issues or it’ll fork, or something. Too much invested now to let it die.

    All the sky falling people two days ago are pretty quiet about the rebound.

    #5 1 year ago

    I am planting crypto tulip bulbs on my virtual land where I live with my virtual family and spend my cryptocurrency. And I lived happily ever after until the power got cut and reality intruded.

    #6 1 year ago
    Quoted from Yoski:

    I am planting crypto tulip bulbs on my virtual land where I live with my virtual family and spend my cryptocurrency. And I lived happily ever after until the power got cut and reality intruded.

    #7 1 year ago

    Eth, Geo, Sia, Zec, Btc currently.

    That's about all I hold. I feel the most confident in ethereum. I could see it it at $1,500 real soon.

    #8 1 year ago
    Quoted from jwilson:

    I wouldn’t worry about BTC. People will solve the issues or it’ll fork, or something. Too much invested now to let it die.
    All the sky falling people two days ago are pretty quiet about the rebound.

    I love forks. I have some very old HODL in BTC and I get free coins from it. No problem there for me. I am not concerned that BTC is going to fail however it will be interesting to see how they solve it. Also it can very easily fail regardless of the amount of money in it. By 2020 the dominance could be at an end.

    #9 1 year ago
    Quoted from Toasterdog:

    Eth, Geo, Sia, Zec, Btc currently.
    That's about all I hold. I feel the most confident in ethereum. I could see it it at $1,500 real soon.

    I was dual mining ETH and SIA awhile ago, but dropped SIA after a short while because it was reducing my ETH hashrate. That's back when you couldn't buy it and it was worth nothing. When I finally saw that it started to increase in value, I started mining again. I've been thinking about staking some coins and renting out HDD space, but haven't had time to look into the logistics yet. That and I think it's quicker to mine than it is to receive the revenue from renting space.

    #10 1 year ago

    what is the deal with bitcoin cash? a spinoff of bitcoin?

    #11 1 year ago
    Quoted from InfiniteLives:

    what is the deal with bitcoin cash? a spinoff of bitcoin?

    A fork. So if you had btc at the point before the fork you got free bch.

    #12 1 year ago
    Quoted from Syco54645:

    A fork. So if you had btc at the point before the fork you got free bch.

    interesting, its worth significantly less, whats the viability of it going up? can people mine that too?

    #13 1 year ago

    I must be getting old. I don't understand the whole using real money to purchase virtual land and stuff?

    That being said it will probably be a big success... for a while.

    #14 1 year ago
    Quoted from InfiniteLives:

    interesting, its worth significantly less, whats the viability of it going up? can people mine that too?

    no idea if it will go up. would be all speculation. people can mine it as this is what keeps the network running.

    #15 1 year ago

    The majority of my investment is in ETH but I'm also holding BAT, SC, XLM, XRP and FUN. I'm super excited to see where FUN goes.

    #16 1 year ago
    Quoted from Yoski:

    I am planting crypto tulip bulbs on my virtual land where I live with my virtual family and spend my cryptocurrency. And I lived happily ever after until the power got cut and reality intruded.

    Which obviously failed to affect the electronic money in the bank and the electronic money in the stock market. No worries, you've written down the serial numbers off all of the money you've ever deposited, so you're sure to come out on top.

    Some real hard core thinking types on here. Brilliant.

    #17 1 year ago
    Quoted from Astropin:

    I must be getting old. I don't understand the whole using real money to purchase virtual land and stuff?
    That being said it will probably be a big success... for a while.

    You're not the only one, but oddly enough, buying virtual land is much more common than you might think. Star Citizen, Second Life, Entropia Universe, etc. Believe it or not, you can even start a virtual business in some and learn "skills" like Medic, Transportation Provider, Tailor, etc. The use those skills to generate revenue in the VR world.

    I don't see the alure, but that doesn't mean I can't try and make a few dollars from it.

    Quoted from GhostThruster:

    The majority of my investment is in ETH but I'm also holding BAT, SC, XLM, XRP and FUN. I'm super excited to see where FUN goes.

    Do you see FUN going anywhere? I did some reading a few weeks ago, since it looked interesting, but it appears as though the main issue is getting a RNG to perform quickly enough on the blockchain.

    #18 1 year ago

    I invest in vaporware whenever possible.

    #19 1 year ago
    Quoted from Spyderturbo007:

    You're not the only one, but oddly enough, buying virtual land is much more common than you might think. Star Citizen, Second Life, Entropia Universe, etc. Believe it or not, you can even start a virtual business in some and learn "skills" like Medic, Transportation Provider, Tailor, etc. The use those skills to generate revenue in the VR world.
    I don't see the alure, but that doesn't mean I can't try and make a few dollars from it.

    Do you see FUN going anywhere? I did some reading a few weeks ago, since it looked interesting, but it appears as though the main issue is getting a RNG to perform quickly enough on the blockchain.

    The RNG isn't performed on the main Ethereum network. FUN have created what they are calling "Fate channels" which are essentially instanced networks. So a gambler and the casino would engage in a contract inside of a Fate channel where all of the calculations are made regardless of the number of bets placed or games played and only once the gambler decided to quit their session, would the transaction go onto the Ethereum network. Example: I want to play blackjack, I bring 10,000 FUN to the table. A Fate contract is started with my 10,000 and the casinos 100,000 FUN (or w/e requirement for staking is), I can then play as much or as little of that as I want instantaneously in the Fate channel. Say I gamble 50 hands and want to cash out, I would then quit the session and the Fate channel would then end and the final transaction would be processed on the Ethereum network. I could have explained this poorly but that is my understanding of it.

    Basically the Fate Channels allow you to bundle an entire gaming session into one transaction as opposed to processing each individual hand in the session on the main Ethereum blockchain.

    #20 1 year ago
    Quoted from o-din:

    I invest in vaporware whenever possible.

    JPOP coin?

    #21 1 year ago

    where do you guys mainly buy this stuff? Coinbase?

    #22 1 year ago
    Quoted from InfiniteLives:

    where do you guys mainly buy this stuff? Coinbase?

    You can buy 4 different coins on Coinbase but to buy any of the altcoins, you have to get them from an exchange.

    #23 1 year ago
    Quoted from InfiniteLives:

    where do you guys mainly buy this stuff? Coinbase?

    I use Coinbase, Binance and Kraken. I have two hardware wallets, a Trezor and a Ledger, where I store the majority of my coins after purchase. I don't really trust the exchanges too much.

    #24 1 year ago

    Some Asian countries are looking to ban or greatly restrict cryptocurrencies--might have to watch out for that since that's probably where a lot of the market for it is.

    https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

    #25 1 year ago

    Where does one spend this cryptocurrency?
    Is there any tangible backing or is it all speculation and demand?

    -5
    #26 1 year ago
    Quoted from Flowst:

    Where does one spend this cryptocurrency?

    On the dark web.

    #27 1 year ago
    Quoted from Flowst:

    Where does one spend this cryptocurrency?
    Is there any tangible backing or is it all speculation and demand?

    https://www.lifewire.com/big-sites-that-accept-bitcoin-payments-3485965

    Quite a few actually.

    #28 1 year ago

    "Investment".

    #29 1 year ago
    Quoted from Flowst:

    Where does one spend this cryptocurrency?
    Is there any tangible backing or is it all speculation and demand?

    There are a good bit of retailers that accept BTC. Overstock, Microsoft, Expedia and NewEgg to name some of the larger ones. The problem right now is that transaction times take forever and the fees are a little crazy. Hopefully they get the lightning network straightened out soon.

    But to be honest, most of it is speculation. It will be an interesting year as things evolve.

    Quoted from o-din:

    On the dark web.

    Here we go again. Can't you go start your own cryptocurrency sucks thread?

    #30 1 year ago

    So pinball machines are not an investment but virtual currency is? Hmm.

    -7
    #31 1 year ago
    Quoted from Spyderturbo007:

    Here we go again. Can't you go start your own cryptocurrency sucks thread?

    Why don't you get off your high horse!

    I don't know why you have to get yourself so uptite.

    I thought it was common knowledge that cryptocurrency was payment of choice for all things on the dark web.

    Or maybe you don't watch the news?

    #32 1 year ago
    Quoted from o-din:

    On the dark web.

    Legitimate websites are starting to accept it here and there. It's by no means universal, though.

    Some gaming sites, newspapers/magazines, electronics retailers.

    https://www.lifewire.com/big-sites-that-accept-bitcoin-payments-3485965

    #33 1 year ago
    Quoted from o-din:

    Why don't you get off your high horse!
    I don't no why you have to get yourself so uptite.
    I thought it was common knowledge that cryptocurrency was payment of choice for all things on the dark web.
    Or maybe you don't watch the news?

    I'm not uptight, I'm just sick of this place being filled with trolls. I started a separate thread where those of us that wanted to discuss crypto would be free of the bullshit tulip / dark web / bubble crap. But some of you guys just can't help yourself.

    I addressed the dark web in the other thread, so I'm not going to waste my time again.

    -4
    #34 1 year ago
    Quoted from Spyderturbo007:

    I started a separate thread where those of us that wanted to discuss crypto would be free of the bullshit tulip / dark web / bubble crap.

    Well maybe you should have specified that then. Someone asked a question, and I gave a straight answer.

    And best thing is probably not to get bent out of shape when somebody posts a legitimate answer on an open forum. You are free to go start your own website anytime.

    #35 1 year ago
    Quoted from o-din:

    Well maybe you should have specified that then. Someone asked a question, and I gave a straight answer.

    And here I thought the title and original post was sufficient. I'm not sure how I could have made that any clearer?

    #36 1 year ago
    Quoted from o-din:

    Well maybe you should have specified that then. Someone asked a question, and I gave a straight answer.
    And best thing is probably not to get bent out of shape when somebody posts a legitimate answer on an open forum. You are free to go start your own website anytime.

    You're answer was misleading and you know it. Crypto use is not all about the "dark web"...give us a break. Cash is still KING when it come to illegal usage.

    #37 1 year ago
    Quoted from Spyderturbo007:

    And here I thought the title and original post was sufficient. I'm not sure how I could have made that any clearer?

    You didn't mention dark web or where to spend crypto. And there's no hate about it. I'm sure those that do spend it and receive it via the dark web are very happy that option is available.

    -4
    #38 1 year ago

    #39 1 year ago
    Quoted from Syco54645:

    BTC is not entirely sustainable as by 2020 verifying a transaction could use as much electricity as the country of Denmark uses in 1 day

    this boggles my mind. How could people not have seen that coming, and how does it have any longterm viability?

    #40 1 year ago

    was anyone using bitconnect before it imploded?

    #41 1 year ago

    Anyone have any advice on the hard fork tomorrow with Eth? Rumors are swirling that some of the exchanges like Coinbase are not going to recognize the distribution of EthZero right away (like Bitcoin cash). I had a couple of people telling me to temporarily move to another wallet.

    Just seeing if anyone else wants to chime in on your plans.

    #42 1 year ago

    I'm hoping the fork goes to zero. I'm sick of people forking a coin for no real reason other than the pre-mine a few million coins. If you look at the fork, they are pre-mining 20 million coins for "Future Development". Up until a few days ago, there was no whitepaper. It just kept saying "Coming soon". I haven't gotten a chance to read it yet since it just went up.

    Putting that aside, I keep most of my coins in a hardware wallet. In the past, Trezor has always supported the forked coins. All I need to do is wait a few weeks and they issue a firmware update and a nice web interface where I can claim my coins. It's been flawless with both BTG and BCH. I'm not sure about ETH since I've never went through a fork and the Trezor actually interacts with MEW and not the Trezor interface.

    If your coins are on an exchange, you have to hope that they decide to support the fork.

    #43 1 year ago
    Quoted from Syco54645:

    BTC is not entirely sustainable as by 2020 verifying a transaction could use as much electricity as the country of Denmark

    Valid concerns. Sustainable? Who knows . . . yet.
    But, there MUST be some valuable outcome from the blockchain concept.
    My take is: Whoever develops the applicable uses of blockchain technology
    will be the winners.

    Not sure if verifying a transaction of the transfer of a cryptocurrency
    is the best use of blockchain technology, but time will tell.

    #44 1 year ago

    What’s the deal with bitcoin futures? How often is this going to be happening?

    Also why in the world is tron going back up? I thought everyone thought they were shady and was jumping ship? Has there been a real announcement?

    #45 1 year ago

    170919094555-euros-in-toilet-780x439 (resized).jpg

    #46 1 year ago
    Quoted from extraballingtmc:

    What’s the deal with bitcoin futures? How often is this going to be happening?
    Also why in the world is tron going back up? I thought everyone thought they were shady and was jumping ship? Has there been a real announcement?

    I want to be baffled at the fact TRX is going up but I get the idea that most of the new investors have no clue what they are doing and just following the shills. I hate it because this is the type of behavior that ruins it for everyone.

    #47 1 year ago

    Yeah just buying the cheapest coin or remembering someone said something about some tron coin once so they blindly buy.

    Imo tron going back to 3 cents until some concrete news comes out.

    #48 1 year ago
    Quoted from GhostThruster:

    I hate it because this is the type of behavior that ruins it for everyone

    One might argue this is the type of behavior that causes initial investors to get rich. You can't sell for a profit if new people aren't buying.

    I am not invested in cryptocurrencies. The technology is interesting, and has applications, but the specific implementations are not being uptaken as legitimate payment methods at nearly the adoption rate expected for the trillions of dollars of market capitalization for cryptos. The reduction of the bank as the middleman and speedy and cheap transactions didn't happen, instead its probably cheaper to paypal someone money at this point than send them bitcoin and have them cash out.

    Long term, isn't the increasing value of a crypto at odds with using it as a payment? Who would want to pay for something with a crypto if the crypto is gonna be worth more tomorrow?

    #49 1 year ago

    I have a friend who begged me to get into Bitcoin Back in 2011. He invested 1000 dollars and purchased them
    as a high risk investment. He also invested 1000s of dollars on a bitcoin mining rig of several video cards.
    Back in 2014 he bragged he had over a 1500 bitcoins and wasn't interested in selling. I'm not sure where
    he is at now but he told me that he started selling them off a week ago and was bitching about not selling them
    sooner. He plans on completely divesting himself of them.

    He told me that he had grave concerns for bitcoin value in 2017 and skeptical of growth. In essence he is laughing
    at people clamoring to get on board now.

    #50 1 year ago
    Quoted from TechnicalSteam:

    He told me that he had grave concerns for bitcoin value in 2017 and skeptical of growth. In essence he is laughing
    at people clamoring to get on board now.

    Maybe he's right, but he may also be selling before 1 BTC = $100k. If I were in his shoes, I'd probably be happy to cash out now, but I'd still want to hold onto a small amount just in case Bitcoin goes on another moon mission.

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