11-25-2021, 07:17 AM
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cryptocurrency
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Cool, my chance to be the grumpy old boomer instead of you! I am willing to let this pass by. I regret I didn't get in years ago but I am not trading my FIAT cash position for digitally contrived fake money after it did a 10X+ in a few years. The next crypto winter will come soon enough and I'll assess a modest entry then. Block chain is real and BTC may be useful for the long haul. Most of the thousands of BS coins will be worthless soon enough. We aren't there yet but I am starting to smell 1999. I beat the SPY this year with a bit of trading and avoided chasing the FOMO. Good enough as beating the SPY was not the goal in the first place.
11-25-2021, 05:54 PM
(11-25-2021, 09:11 AM)fenders53 Wrote: Cool, my chance to be the grumpy old boomer instead of you! I am willing to let this pass by. I regret I didn't get in years ago but I am not trading my FIAT cash position for digitally contrived fake money after it did a 10X+ in a few years. The next crypto winter will come soon enough and I'll assess a modest entry then. Block chain is real and BTC may be useful for the long haul. Most of the thousands of BS coins will be worthless soon enough. We aren't there yet but I am starting to smell 1999. I beat the SPY this year with a bit of trading and avoided chasing the FOMO. Good enough as beating the SPY was not the goal in the first place. Are you saying’ we have a reputation?? lol we might
11-26-2021, 08:17 AM
We do for sure.
 I really am interested in a small amount of BTC, just not way up here. I'm not saying BTC is going to head back to $3K. I am however fairly sure that half the current crypto investors paid over $30K for most of their coins. Enough of it bought with credit card cash advances and other such foolishness. The froth needs to shake some of them out. Unfortunately I think the stock market has to go down some for that to happen. I'll be patient. It's not like I am running out of stocks to buy if I wish to gamble this month. 
Yeah, I think the 1999 analogy is apt. But I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days. I think we're really just at the beginning of this transformation -- check out this fascinating (terrifying?) article about social capital becoming economic capital. We're really heading through the looking glass here!
(And great article, rayray -- thanks for the link!) (11-29-2021, 01:56 PM)Kerim Wrote: Yeah, I think the 1999 analogy is apt. But I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days. I think we're really just at the beginning of this transformation -- check out this fascinating (terrifying?) article about social capital becoming economic capital. We're really heading through the looking glass here!I try to not get too locked into my boomer world thinking, but I just can't help feeling like I am chasing if I jump in here, and I strive to not make the same mistakes repeatedly. I think back to my top 10 stocks I held in 1999. All were profitable and most were very profitable. MSFT is the only one that was worth holding and it was a very long wait. I try not to lose sight of the fact that valuation matters in the end. Of course you can pay a little too much for a growth company and get by with it if they grow for another decade or more. But their is a valuation line somewhere and it is impossible to determine with BTC. Too many things can change in the next few years. I don't need to own BTC ever, so I can just watch and learn. On a side note I have run across millennials on the net that have their entire retirement port in crypto, and they don't consider it a risky strategy. THAT is 1999 thinking. I can't be wrong, it only goes up because it is new tech, somebody will pay double for it next year so don't miss out. 
12-07-2021, 09:49 AM
At this point in my investing life, I have made the conscience decision to miss the crypto train. However, I wish you the upmost success in this endeavor. For me, I am far more comfortable remaining (and investing) within what I believe to be my own sphere of competence.
"A man's got to know his limitations". - Harry Callahan For me investing in Crypto is one of those limitations - Scoot
12-07-2021, 03:12 PM
(11-29-2021, 01:56 PM)Kerim Wrote: I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days. This is exactly what I was about to say. Crypto is here to stay. It took a massive leap backwards when the price of bitcoin spiked. Long story short: skyrocketing bitcoin prices = skyrocketing transaction costs (when looking at things from the point of view of fiat currencies) since those transaction costs are also paid with bitcoin. A transaction fee of say 0.001 bitcoin was the cheapest thing on the planet when bitcoin was $1. Not so much anymore with bitcoin in the tens of thousands. But the technology is evolving rapidly, and I have no doubt that in 10-30 years crypto will be a daily thing. Maybe not the main currency we use, but used a lot anyway. Facebook actually tried to go this way a few years ago and introduce their own crypto which would be the default payment method for anything inside facebook. Most of the shitcoins will obviously disappear since they have no real use, and will never have one. They are speculative investments at best, scams at worst. The real deal will be those coins that will have a functioning ecosystem where that coin is the main currency.
12-07-2021, 03:41 PM
(12-07-2021, 03:12 PM)crimsonghost747 Wrote:(11-29-2021, 01:56 PM)Kerim Wrote: I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days.
12-07-2021, 08:14 PM
(12-07-2021, 03:41 PM)Scooterd Wrote:There are thousands of coins already and IMO the outcome of anyone rational knows the overwhelming majority will be worth zero. They are casino chips and I am guessing half the investors are well aware of that fact, and the rest will get their lesson in chasing hype. Is it really any different than buying stocks with little hope of profitability and priced for ten years of perfection that likely never happens before they BK? It's just a different flavor of gambling IMO.(12-07-2021, 03:12 PM)crimsonghost747 Wrote:(11-29-2021, 01:56 PM)Kerim Wrote: I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days. Having said that I missed the bitcoin train. I was told to buy it by friends under $50 and I laughed at them. I would have cashed out WAY before now anyway. BTC is prone to "crypto winter". Would I be interested in a small position then? We'll see. In some form crypto currency and blockchain is going to be part of the future. CSCO was outrageous at a 180 PE 20 years ago when I failed to cash out on a 3-4 bagger. Most all of us have to learn a few hard lessons for ourselves. Some will score and many will get too greedy. Just like every bubble asset.
12-08-2021, 06:03 AM
(12-07-2021, 09:49 AM)Scooterd Wrote: Though I may not invest in Crypto, I enjoy reading the thoughts and comments of those that do. I am by no means an expert on crypto. I know the basics but that's it. However, in my limited understanding, it would be quite hard to indeed invest in the underlying technology without investing in the coins. Everything else is kind of reaching for it. Lets for example look at the ETF BLOK, which is the first name that came up when I tried to find a blockchain focused ETF. -Top holding is Nvidia. Can nvidia be related to blockchain? Sure. But as far as I know they are only manufacturing the GPUs used to provide computing power for mining. And it's a small, small part of their overall business. -A lot of mining companies there. So basically just owning a company that produces coins. (mostly bitcoin) -A lot of service companies, such as coinbase, which just offer an exchange where you can trade coins. It's a confusing world, but I think all those three types above are more companies that benefit from the crypto boom, rather than companies that enable the technology to work. Regarding if the coins will be viable, I think so yes. By that I mean the 1% of them that are actually good. 99% will fail since they have no use. But the thing is that these coins keep evolving too. Ethereum is pretty much the king in blockchain technology, with thousands of different coins (many with real usages, such as in-game currency) using their network. I can't think of another way of investing into it apart from just buying ETH, which is their native currency. Again, I am by no means an expert in these matters.
I had to revisit this page--since i went a little deeper into crypto
i invested in a few coins on binance.us, then transferred some dollars to kucoin to buy some coins not available on binance.us i'd read about certain crypto/coins and the projects they conduct--a lot going on--it's endless i noticed on binance.us certain coins were being staked by the exchange and i was earning a small interest every month (like a dividend) then i noticed some of the same coins can be staked on kucoin but with a better APR--so--i moved some more funds from binance.us to kucoin to get that better staking reward then i bought a little ATOM it's the native coin of COSMOS, an ecosystem--i'll post the link to the ecosystem https://cosmos.network/ then through cosmos i discovered their defi platform osmosis--osmosis is a decentralized exchange (DEX) where binance.us and kucoin for the most part are centralized exchanges (CEX) the main difference between DEX and CEX is that on a DEX you own your keys and have complete control where on a CEX they have your keys well, like binance.us vs kucoin i noticed i can stake a couple of my coins on osmosis and earn way more then on kucoin--so--i created a keplr wallet and moved atom from kucoin to osmosis earning that higher APR through staking and investment pools through the cosmos ecosystem i came across the akash network https://akash.network/ the main developers basically had a company that was acquired by google and a big part of what google does is because of these guys work right now think of akash network like amazon's AWS but for web3 and the decentralized world--when you're going from site to site you can look at the bottom of the page and see "powered by akash" such as this--just scroll down to the bottom https://www.junonetwork.io/ of course juno is the smart contract part of cosmos very interesting when you get past the crypto/coin part and delve into the actual functions of this world i can't remember who said it--mark cuban?? elon musk?? one of the big fish--anyways said no one can ignore crypto anymore specifically silicone valley and the banking industry because the smartest people in the world are now working and developing over there not here lol--thought that was interesting is this natural business development/progress?? was it greed?? regulations?? what caused this movement?? countries and companies printing money through debt?? i don't know oh here's another example of this world https://brave.com/ this browser was created by the same guy who helped create mozilla/firefox crypto-land is no joke, in fact, i think being known as crypto is almost a hinderance because it scares people--it's too broad of a term, the term alone cryptocurrencies tells you nothing--and of course it's the wild wild west with lots of bad actors |
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