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Thread: Cryptocurrency - anybody in the space?

  1. #21
    DrSloth's Avatar
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    anyone here heard about pi network? looks a scam imo but wanted to know if anyone else heard about it.

    And i think i'm toolate to join crypto, got interest recently and i've been using nicehash recently and getting a bit from it, since i have a computer laptop that i only use for neo, but still only a laptop and not the best graphics cards so idk if it's actually worth it.
    I'm afraid it will make my laptop life spam decrease by a lot and considering to letting this go after 2 weeks that i started xD

  2. #22
    Wormjaw's Avatar
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    Kicking myself cause I thought about buying BTC back when it was like 10k last year, but didnt.... And then I ended up buying a shittone of DOGE at like .04 cents and then sold for like $500 profit cause I was getting stressed about watching it, haha. Oh well.

    I'm like really deep into GME though so hopefully that one pans out at least. qq

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  4. #23
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    I'm not, but I have a few genuine questions for those of you who are into crypto: do the short-term and long-term environmental impacts not faze you? Why crypto over traditional or other newer investment options? How comfortable was your lifestyle and financial situation before you began investing in crypto specifically?

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    ♥ lagrima ♥ (05-24-2021)

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    Quote Originally Posted by I_royalty_I View Post
    I’ve posted about crypto before but that was years ago when things weren’t as buzz worthy as they are now. Unless you live under a rock, you’ve probably at least heard mention of it by now.

    The total crypto market cap passed $1,000,000,000,000 not long ago and is fast approaching 2 trillion. BTC reaching new highs that nobody thought it would - along with a ton of other projects.

    It's mind blowing how far the space is advancing. Technology moves so fast, always something new to learn and get involved with.

    Anybody else dabble in the space or have any good projects they are watching?
    Be careful of "good projects"

    I'm willing to say that 80-99% of currencies other than bitcoin are absolute trash. When you evaluate a project--think--"Why do we need this?".

    Take Ethereum for example. To date, everything Ethereum is able to do bitcoin WILL be able to do. The only reason ether is scaling faster than BTC is because they sacraficed some core principles. There's several examples out there of ethereum smart contracts gone wrong--and higher ups bailing people out on the wrong side(as long as they're special people).

    Just take care--and don't buy to invest--buy because you believe in it.

  7. #25
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    Anybody into crypto?

    Old topic was locked and didn’t want to reopen it. Anybody into crypto yet? I know I’ve talked about it before but curious if anybody has started getting involved lately.

    There have been lots of all time highs set across the space, lots of pump and dump coins, plenty of junk coins that are worth tens of billions for some reason.

    Ive just been loading my bags full wherever possible, hoping it will retire me, but always have my ear to the ground.

    For those into it, what coins do you hold, or want to hold? What’s got you hooked?

    For those not into it, why not? What’s got you feeling apprehensive or writing it off completely?
    What's my definition of success?
    Creating something no one else can
    Being brave enough to dream big
    Grindin' when you're told to just quit
    Giving more when you got nothin' left

  8. #26

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    I was but had to sell what I had due to hard times and having to pay bills. Hoping to save enough to get back in. My friend got into doge and I made fun of them, they're laughing at me now lmao.

    A lot of crypto nowadays seems to be pump and dumps, it's more of a speculative investment in my opinion. people keep going around saying how it's a guaranteed thing, but nothing's ever guaranteed in life besides death and taxes. I believe in the blockchain technology but not necessarily individual coins/nfts. in my opinion a lot of NFTs are just easy ways to scam you out of thousands for a crappy jpg. I've done a lot of research in college regarding economics/currencies/etc and such, I think the minute countries start allowing you to pay taxes in mainstream crypto (eg. BTC, ETH, LTC), that's when things will start being validated and crypto will be considered a form of actual currency and will overtake fiat. but there's no way they do that in our generation, since there are billions of dollars sitting on the table riding on the fact that we use outdated systems (eg. why do we have to pay thousands to wire when we could spend dozens using crypto? because lobbyists for big corps want things to stay stagnant. eg. the material we use to make pennies cost more than what the penny is actually "worth", but due to lobbying it's messed)

    so until that happens I personally view crypto as speculation, and people shouldnt invest in more than what they are willing to lose. ultimately people need to actually do their own research and personal risk tolerance/assessment before they jump into it. but they see youtube videos or instagram/tiktok ads and jump in due to FOMO, which is the worst reason possible because that's how you end up being a bagholder. what coins are you holding at the moment? been thinking about getting back in but havent had the time to actually sit down and read a white paper in years

    Sorry for the wall of text, got a lot of old memories rushing back in lmao.

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    I_royalty_I (10-28-2021)

  10. #27
    *hair toss*
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    I've gone ahead and merged these threads, @(you need an account to see links). Since the discussions are only 4 months apart, it seems much of the relevant conversation still applies, and doesn't need two topics!

  11. #28
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    I'm not into crypto, but I'm also not not into it if that makes sense? I just don't have the time or motivation to do my proper research. Do crypto financial advisors exist? I'd definitely invest if I had someone pointing me in the right direction.


    lovely ub and avatar by the endlessly talented @(you need an account to see links)


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  13. #29
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    Quote Originally Posted by omegalul View Post
    I was but had to sell what I had due to hard times and having to pay bills. Hoping to save enough to get back in. My friend got into doge and I made fun of them, they're laughing at me now lmao.

    A lot of crypto nowadays seems to be pump and dumps, it's more of a speculative investment in my opinion. people keep going around saying how it's a guaranteed thing, but nothing's ever guaranteed in life besides death and taxes. I believe in the blockchain technology but not necessarily individual coins/nfts. in my opinion a lot of NFTs are just easy ways to scam you out of thousands for a crappy jpg. I've done a lot of research in college regarding economics/currencies/etc and such, I think the minute countries start allowing you to pay taxes in mainstream crypto (eg. BTC, ETH, LTC), that's when things will start being validated and crypto will be considered a form of actual currency and will overtake fiat. but there's no way they do that in our generation, since there are billions of dollars sitting on the table riding on the fact that we use outdated systems (eg. why do we have to pay thousands to wire when we could spend dozens using crypto? because lobbyists for big corps want things to stay stagnant. eg. the material we use to make pennies cost more than what the penny is actually "worth", but due to lobbying it's messed)

    so until that happens I personally view crypto as speculation, and people shouldnt invest in more than what they are willing to lose. ultimately people need to actually do their own research and personal risk tolerance/assessment before they jump into it. but they see youtube videos or instagram/tiktok ads and jump in due to FOMO, which is the worst reason possible because that's how you end up being a bagholder. what coins are you holding at the moment? been thinking about getting back in but havent had the time to actually sit down and read a white paper in years

    Sorry for the wall of text, got a lot of old memories rushing back in lmao.
    I don’t see crypto so much as a thing we will use to pay for goods and services, so much as a revolution in general. Yes the world revolves around money, but blockchain in general is SO much more robust than just buying something for btc. I think we will see a paradigm shift within our generation though. Look at how quickly technology is changing already. 10 years ago we wouldn’t have thought some of today’s conveniences were even possible. It’s so wild to look back on and think about!

    The “don’t invest more than you can afford to lose” is VERY accurate. Nothing is a sure thing snd you have to be prepared to handle the bear markets. I watch my 6 figure portfolio dropped to 15k when Covid started and we had that insane crash. Since then, I’ve reach new heights, but I’d seen crashes like that and it hurt but I held on. Many people see a 10-20% dip and freak out.. but such is life with crypto. That’s a mild day haha. Nerves of steel are required.

    DOGE.. oh boy. I bet that same friend is big in SHIbA Inu too. I rode the doge wave and made a decent bit, but I’m out of it and never saw it as a long term asset. The same thing with Shiba. I got it a few months ago on a whim and am trying to figure an exit position now. It’s insane how these things move

    - - - Updated - - -

    Quote Originally Posted by LibraryFaerie View Post
    I'm not into crypto, but I'm also not not into it if that makes sense? I just don't have the time or motivation to do my proper research. Do crypto financial advisors exist? I'd definitely invest if I had someone pointing me in the right direction.
    if you ask ten people, you will get ten different responses. I’ve been in the space since 2016, back when eth was just $7 a coin. Done countless ICOs for new coins, day traded, flipped coins for profits and losses. Seen about everything.

    Ill tell you where I have my money right now, is a project called QNT. 90% of my portfolio is Quant, and I just took a loan off my 401k to stack more while the price was down. I believe in this coin, long term. I’m talking 5 years from now I want to be retired and comfy. I believe it will take me there. The more I dig into it, the more hyped I get. It has extreme utility and isn’t just a pump and dump coin. The partnerships they have are massive. Their CEO is a rock star, and the community is one of the most helpful, knowledgeable I’ve ever seen in the crypto space.

    So that would be my casual suggestion. Runner ups - DAG, HOT, LINK

    - - - Updated - - -

    Quote Originally Posted by Cookie Tray View Post
    I'm not, but I have a few genuine questions for those of you who are into crypto: do the short-term and long-term environmental impacts not faze you? Why crypto over traditional or other newer investment options? How comfortable was your lifestyle and financial situation before you began investing in crypto specifically?
    Im not fazed at all by the environmental impacts. There are industries that impact the environment MUCH more than crypto ever will. That’s just a story big business/govt spin in order to downplay the strides crypto is making.

    Im in traditional investment vehicles as well - stock market, 401k, real estate, collectibles, etc - but crypto is the most exciting. My tech background led me to get hooked so easily. I find myself diving down rabbit holes so often when I discover a new project.. or simply trying to get a better handle on things.

    I look at crypto as a safety net right now. Got started when I got my first “real” job. It started as a cruise fund, then a car fund, then a house fund, and now it’s essentially a retirement fund that I’m hoping pays off.

    Quote Originally Posted by Wormjaw View Post
    Kicking myself cause I thought about buying BTC back when it was like 10k last year, but didnt.... And then I ended up buying a shittone of DOGE at like .04 cents and then sold for like $500 profit cause I was getting stressed about watching it, haha. Oh well.

    I'm like really deep into GME though so hopefully that one pans out at least. qq
    late reply - but I’m also deep into AMC and GME right now. Been waiting all year to see that come to fruition. Taking everything in me not to sell and move on.

    - - - Updated - - -

    Quote Originally Posted by empmirage View Post
    Be careful of "good projects"

    I'm willing to say that 80-99% of currencies other than bitcoin are absolute trash. When you evaluate a project--think--"Why do we need this?".

    Take Ethereum for example. To date, everything Ethereum is able to do bitcoin WILL be able to do. The only reason ether is scaling faster than BTC is because they sacraficed some core principles. There's several examples out there of ethereum smart contracts gone wrong--and higher ups bailing people out on the wrong side(as long as they're special people).

    Just take care--and don't buy to invest--buy because you believe in it.
    I don’t think a smart contract gone wrong is an ethereum problem. It’s moreso a problem of the developers of the smart contract failing to audit it and ensure secure code was executed within their contract.

    There are many junk projects out there, but there are also many innovative projects that provide a lot of input. We may not think we need it now, but did we really need a speaker we could ask what the weather is outside? Probably not until Alexa came around. Did we need a watch that we could read texts and answer calls on? Nah, we could just look at our phones.. but then the Apple Watch came around. I try to look at things long term and understand how they can connect with one another. Now a days it’s not trying to find the next “ethereum killer” as much as it is about how things connect, what utility they can provide. Can they do it faster, cheaper, at bigger scale?
    What's my definition of success?
    Creating something no one else can
    Being brave enough to dream big
    Grindin' when you're told to just quit
    Giving more when you got nothin' left

  14. #30

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    Been in the space since 2014. Unfortunately I have had to sell at times due to various life events, and buy back in at much higher prices. So my DCA on most coins is pretty bad for how long I've owned some of them, except BTC. I'm more into staking and lending now. I know crypto isn't going away anytime soon, so might as well add to my bags for free. The way I see it, I can get 4-6% guaranteed dividend on some of the biggest names, and if they also happen to inflate, say 10%/year on average (haha), I'm getting double the return of any tradition market fund. It's also a good way to keep you from moving/selling coins as well.

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