01-14-2018, 11:41 AM
Good luck Crimson!
I'll admit I find the medium very interesting as I was reading a lot about it last night, again. One of my previous posts was a little harsh about the scammers and crooks, I should have clarified more clearly that I believe most are legit; however, being a decentralized industry lets very smart characters take advantage of the situation. In fact, that's one thing I have learned about reading this cryptocurrency sector is that there are A LOT of smart people with a few that really stand out above the crowd. Funny, last week as I was eating a brunch at one of my favorite diners a group of local business-owners were talking about crypto's, specifically Monero.
Yea, my brother-n-law was telling me some of his investments/exchanges would take a week or so to complete with an "x amount" of fees. He was very very excited taking his son for a ride to boot, I didn't have the heart to tell him I felt the time frame with those fee's was unacceptable, IMHO. I also didn't like how one of his investments keeps his investment locked up for almost a year. Years ago I had 25K locked up in a real estate deal and hated it, even though I'm a long term investor I do like having fairly instant access to my dollars.
It's also interesting how some of these crypto's and or investors come across as so anti-fiat yet talk about their value increases into some fiat rate? I find that odd. Why not relate to what you own as to what you own if you believe in that system? Worry about the exchange rates when or if the time comes to exchange that crypto into something else. I also notice a few crypto's poking holes into BTC's system referring to it as slow and expensive, found that interesting too since BTC is supposed to be the gold standard.
It's going to be interesting to see how this all plays out and if I was a gambler other then the 2 to 4 dollars I play a month in the lotto I'd try it out for fun. Buying something that seems slow and possibly more expensive, then advised to store that digital investment on a hard wallet seems, I don't know, for something being the "new way" seems cumbersome and not as safe and efficient as having my funds in a regulated bank or brokerage account.
I'll admit I find the medium very interesting as I was reading a lot about it last night, again. One of my previous posts was a little harsh about the scammers and crooks, I should have clarified more clearly that I believe most are legit; however, being a decentralized industry lets very smart characters take advantage of the situation. In fact, that's one thing I have learned about reading this cryptocurrency sector is that there are A LOT of smart people with a few that really stand out above the crowd. Funny, last week as I was eating a brunch at one of my favorite diners a group of local business-owners were talking about crypto's, specifically Monero.
Yea, my brother-n-law was telling me some of his investments/exchanges would take a week or so to complete with an "x amount" of fees. He was very very excited taking his son for a ride to boot, I didn't have the heart to tell him I felt the time frame with those fee's was unacceptable, IMHO. I also didn't like how one of his investments keeps his investment locked up for almost a year. Years ago I had 25K locked up in a real estate deal and hated it, even though I'm a long term investor I do like having fairly instant access to my dollars.
It's also interesting how some of these crypto's and or investors come across as so anti-fiat yet talk about their value increases into some fiat rate? I find that odd. Why not relate to what you own as to what you own if you believe in that system? Worry about the exchange rates when or if the time comes to exchange that crypto into something else. I also notice a few crypto's poking holes into BTC's system referring to it as slow and expensive, found that interesting too since BTC is supposed to be the gold standard.
It's going to be interesting to see how this all plays out and if I was a gambler other then the 2 to 4 dollars I play a month in the lotto I'd try it out for fun. Buying something that seems slow and possibly more expensive, then advised to store that digital investment on a hard wallet seems, I don't know, for something being the "new way" seems cumbersome and not as safe and efficient as having my funds in a regulated bank or brokerage account.