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Crypto currencies
Old 11-19-2019, 02:21 PM   #1
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Crypto currencies

Hello !
It's actually my first post here, so if there is any rules i don't follow, just inform me and i'll take care.
So hello to all of you, i'm shedir, a crypto investor since august 2017, so before the crypto boom . I have since then been passionate about trading, which led me to financial freedom, which i wasn't even aware existed before.
And i'm wondering today about the upside potential of crypto currencies, because i feel it's hard for non initiate to get in. Or maybe people are not even willing to invest in crypto.
Is there any one that is invested in Bitcoin here, or want to invest ?
Or you think it's complete scam ?

I know a lots of people have not got deep into the subject so, feel free to ask anything, we are here to share, and discuss !
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Old 11-19-2019, 03:54 PM   #2
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Scam is a strong word, but I just don't "get" the value proposition other than just pure speculation. With stocks and bonds as such there are likely cash flows that can be relied on in assessing the value. For crypto I have no idea where to begin.
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Old 11-19-2019, 03:59 PM   #3
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Originally Posted by pb4uski View Post
Scam is a strong word, but I just don't "get" the value proposition other than just pure speculation. With stocks and bonds as such there are likely cash flows that can be relied on in assessing the value. For crypto I have no idea where to begin.
Welcome aboard.
Crypto is just that - - - speculation. Fortunes to be made unless you get wiped out.
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Old 11-19-2019, 04:07 PM   #4
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I have since then been passionate about trading, which led me to financial freedom, which i wasn't even aware existed before.
Welcome - does the bolded part mean you sold at a good price? Or are your gains still just on paper?

To me, crypto isn't a scam, but I've got zero interest in putting any money into it. It's like investing in a hot new stock where you can't really research the company - smoke and mirrors. Yes I know there are "blockchain bros" everywhere who would want to passionately convince me otherwise, but, pass.

The currency value is so unstable too, so that prohibits user adoption as an alternate to standard payments, at least for now.
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Old 11-19-2019, 04:26 PM   #5
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Since there doesn't seem to be any rhyme or reason to the wild fluctuations in value, I can't see how anyone can call it "investing".

bitcoin.png
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Old 11-19-2019, 04:45 PM   #6
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Since there doesn't seem to be any rhyme or reason to the wild fluctuations in value, I can't see how anyone can call it "investing". ...
Crypto currencies have prices but no intrinsic value. With a tulip bulb you can at least grow a tulip.

The Greater Fool Theory applies: https://en.wikipedia.org/wiki/Greater_fool_theory
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Old 11-19-2019, 05:17 PM   #7
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From what I have seen here over the years only a handful or less own crypto. In the past year you have seen the comments go from scam/beanie babies/tulip bulbs/ no intrinsic value to just one tulip post and a few skeptics. I have been following for years and dipped my toe in on several occasions. Personally, not interested in a discussion, but find the occasional sentiment readings interesting. Currently have low 6 figures in BTC, am looking at ETH and one other as well.
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Old 11-19-2019, 05:27 PM   #8
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This is the third different forum I saw this guy post on today, same content.
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Old 11-19-2019, 06:37 PM   #9
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We mined bitcoin for a few years and my kids made 100k and we made 40. We are each holding onto a small amount. Now it’s not profitable to mine.
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Old 11-19-2019, 07:01 PM   #10
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The issue I’ve always had with crypto is simple: The supply of any type of coin is limited (that’s a good thing) but there’s no limit on others creating new coins. So where’s the legitimate scarcity? IF I were to invest in crypto it would only be with “funny money” which I don’t mind losing and would be on one of the well known coins like bitcoin and would occur during bitcoin’s predictable annual loss of 50%. I do have a buddy who made around $20 million buying bitcoin, but his entry year was 2010, not 2017, and he held religiously (and possibly wrongly) during the gut-wrenching drops that have occurred with incredible regularity.

Anyway, welcome to the forum!!
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Old 11-19-2019, 07:04 PM   #11
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Since there doesn't seem to be any rhyme or reason to the wild fluctuations in value, I can't see how anyone can call it "investing".



Attachment 33067


The only compelling case I’ve heard is that each year’s low point is higher than the prior year’s low point implying that there’s a contingent of never-sell bitcoin owners who are true believers in the eventual value as a real currency. Still not “investing” but if you buy near the low of a given year than history suggests it may not be the end of the world.
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Old 11-19-2019, 08:20 PM   #12
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My DW, and son both have a small amount of BitCoin (against my advice). I prefer to play with penny stocks. It is currently at a low price of $8,129, while they bought in at $10,500.
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Old 11-20-2019, 03:23 PM   #13
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Scam is a strong word, but I just don't "get" the value proposition other than just pure speculation. With stocks and bonds as such there are likely cash flows that can be relied on in assessing the value. For crypto I have no idea where to begin.
Speculation is a huge part of crypto, which make it really awesome because he have it's own dynamics.
I mean, it's like healthcare ( correct me if i'm wrong but this market is also very volatile right ? Or marijuana stocks back in the days )

You must like speculation to invest in crypto currencies these days, that's a fact
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Old 11-20-2019, 03:27 PM   #14
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Welcome - does the bolded part mean you sold at a good price? Or are your gains still just on paper?

To me, crypto isn't a scam, but I've got zero interest in putting any money into it. It's like investing in a hot new stock where you can't really research the company - smoke and mirrors. Yes I know there are "blockchain bros" everywhere who would want to passionately convince me otherwise, but, pass.

The currency value is so unstable too, so that prohibits user adoption as an alternate to standard payments, at least for now.
Sold somes at a very good price, and had some loss on others, i've also been scamed, i've pretty much experienced the market.

I believe huge investor will get in and make it more mature, and more stable over time.
( i just believe this, but doesn't mean big investor will really get in, even if there is some huge project to help people investing in bitcoin these days, as Bakkt, fidelity, starbuck will propose coffee in bitcoin for example etc... ) But there is no certainty in trading
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Old 11-20-2019, 03:29 PM   #15
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From what I have seen here over the years only a handful or less own crypto. In the past year you have seen the comments go from scam/beanie babies/tulip bulbs/ no intrinsic value to just one tulip post and a few skeptics. I have been following for years and dipped my toe in on several occasions. Personally, not interested in a discussion, but find the occasional sentiment readings interesting. Currently have low 6 figures in BTC, am looking at ETH and one other as well.
Nice good luck, even the top 3 is a good investment tbh, and as you go down there is more and more risk
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Old 11-20-2019, 03:31 PM   #16
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We mined bitcoin for a few years and my kids made 100k and we made 40. We are each holding onto a small amount. Now it’s not profitable to mine.
Dayum that's awesome
Mining is hard right now, except if you have favorable electricity prices ...
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Old 11-20-2019, 03:36 PM   #17
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The issue I’ve always had with crypto is simple: The supply of any type of coin is limited (that’s a good thing) but there’s no limit on others creating new coins. So where’s the legitimate scarcity? IF I were to invest in crypto it would only be with “funny money” which I don’t mind losing and would be on one of the well known coins like bitcoin and would occur during bitcoin’s predictable annual loss of 50%. I do have a buddy who made around $20 million buying bitcoin, but his entry year was 2010, not 2017, and he held religiously (and possibly wrongly) during the gut-wrenching drops that have occurred with incredible regularity.

Anyway, welcome to the forum!!
Wow that guy is a real genius tbh, what he did is memorable.
And btw about the scarcity, hmm you got it right, but i would then say, okay, there are some open sources projects, and you can litteraly copy/paste the code and make the exact same currency.
But the first one will most likely have more users right ? And the developpers will still be active on it, and always improve the security/speed/network etc...
Why would people go on the copy/paste blockchain which will be badly updated, and may have low security etc...

It's also a scarcity of the devs behind the creation of the blockchain.
Bitcoin have been created since 2009, there is many copy that have been created since then, but bitcoin is the only first one.
Why ? Because it's security have been proven over time, it has never been hacked only once since it's creation

I mean, the story behind is really insane when you think about it ...
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Old 11-20-2019, 03:53 PM   #18
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Originally Posted by Shedir View Post
Speculation is a huge part of crypto, which make it really awesome because he have it's own dynamics.
I mean, it's like healthcare ( correct me if i'm wrong but this market is also very volatile right ? Or marijuana stocks back in the days )

You must like speculation to invest in crypto currencies these days, that's a fact
Healthcare entities or even marijuana companies have cash flows and profits... crypto currencies do not... I am an investor, not a speculator, so I have no interest in crypto currencies. To me, investing in crypto is somewhat between trading in foreign exchange currencies and roulette.. so not for me.
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Old 11-20-2019, 04:11 PM   #19
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My SIL's ex husband is into crypto. That's endorsement enough for me to steer clear of it.
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Old 11-21-2019, 08:34 AM   #20
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Crypto is a means of exchange (wannabe currency) that is being treated by most as an investment (ala fx speculation).



At the moment its too bush league to be a currency.
* If china pulls the plug in a trade war or jiggles electric rates, a bunch of the transaction processing farms are suddenly off-line.
* "exchanges" that just magically go poof.
* wild swings driven by who-knows-what


Technologically it has promise, but TPTB don't like the competition and their inability to control it. If they can't keep it bottled up as little more than a curiosity, the central banks will come out with their own (and maybe force you to use it) to maintain control of the system.
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