OT. Crypto

[Edward Sargent]

How about my Merck stock!!

 

[uconndogs]

I agree. But why own only currency distributed by a government? Crypro is 24 7- it’s a different class of assets. Some of them will be become universal globally.

As I said, I don’t understand how you value crypto.

 

[Scot-e]

This feels like a cesspool-type subject matter.

Why? We talk about some pretty diverse things off topic when we have a week between games. Not hurting anyone.

As I said, I don’t understand how you value crypto.

The currency is pretty simple- limited supply -if demand grows price increases. This can happen from institutional adoption- development of practical applications or simply human greed.

The companies are quite diverse but most are using blockchain to improve an existing process- such as supply chain- banking ect…

 

[CONN78SEJ]

Hope my fellow crypto Boneyarders did some DCA. Back to interesting times!

I’m long on a few things short term, but am mostly shorting the overall stock market. Buying some gold & palladium. Staying away from crypto, too volatile for me and I think eventually it will crash 1929 style.

 

[WestHartHusk]

As I said, I don’t understand how you value crypto.

They don’t either. It’s pure gambling.

 

[mussels]

As I said, I don’t understand how you value crypto.

The bigger fool theory. It’s worth x because the last guy with a bad case of FOMO paid x for it.

With tulip bulbs, you at least got a tulip bulb. (and didn’t use a spit ton of energy getting it)

 

[uconndogs]

The currency is pretty simple- limited supply -if demand grows price increases. This can happen from institutional adoption- development of practical applications or simply human greed.

The companies are quite diverse but most are using blockchain to improve an existing process- such as supply chain- banking ect…

Nothing you stated here provides a basis for valuation of crypto currency. It's simply based on what the next bidder is willing to offer.

Companies utilizing blockchain techonology to build a service model that can be monetized is very different from a pure crypto currency play. I would not conflate the two.

 

[Scot-e]

Nothing you stated here provides a basis for valuation of crypto currency. It's simply based on what the next bidder is willing to offer.

Companies utilizing blockchain techonology to build a service model that can be monetized is very different from a pure crypto currency play. I would not conflate the two.

Valid to a degree. However there is a global community that would like to see an alternative to fiat currencies- this community drives the interest. Wall Street is now involved- that drives interest. A long term measured approach is far from unreasonable if you are like me and want diversity. It’s not a get rich quick scam. I’ve held crypto since 2016 and I have had an annual return of around 20% a year.

 

[NEforceUConn]

What does that mean and how can I get rich?

Just lie back in bed - this is America.

 

[uconndogs]

Valid to a degree. However there is a global community that would like to see an alternative to fiat currencies- this community drives the interest. Wall Street is now involved- that drives interest. A long term measured approach is far from unreasonable if you are like me and want diversity. It’s not a get rich quick scam. I’ve held crypto since 2016 and I have had an annual return of around 20% a year.

Again, explain to me how valuation of crypto currency works.

btw, 20% annual return is great, but at what volatility and risk?

 

[mussels]

Valid to a degree. However there is a global community that would like to see an alternative to fiat currencies- this community drives the interest.

Yeah - silicon valley nerds, who stand to make a lot of money, the venture captialists that back them, money launderers and various criminal enterprises. Not sure they think of themselves as a community though.

 

[Scot-e]

Again, explain to me how valuation of crypto currency works.

btw, 20% annual return is great, but at what volatility and risk?

Not giving investment advice. Lots of volatility- it’s not for everyone- but I am a buy and hold person so I don’t worry about volatility.

 

[Scot-e]

Yeah - silicon valley nerds, who stand to make a lot of money, the venture captialists that back them, money launderers and various criminal enterprises. Not sure they think of themselves as a community though.

I’m sure they don’t- but I am none of those things. Just an open minded person like my many friends that are interested in blockchain.

 

[Scot-e]

I was hoping for more of a warm and fuzzy thread. Should have known better. Hope the rest of everyone’s week goes great.
Go UCONN!

 

[Stinger92860]

Now I regret having not bought more.

This is always the case, except when it’s down. It’s fun to play with and make some change but I would not bet my life savings. When I was working starting in 2018 to 2022, I would end my team calls with 5 minutes on the crypto market. I said buy it for your kids or grandchildren. A few bucks a week and forget about it.

 

[uconndogs]

Not giving investment advice. Lots of volatility- it’s not for everyone- but I am a buy and hold person so I don’t worry about volatility.

Not looking for investment advice. The question on valuation is rhetorical.

 

[HuskyCLT]

Exciting times coming. I’m big on the ISO 20022 cryptos (XRP, HBAR, QNT, ADA +more). Switch from SWIFT to ISO is starting soon!

 

[I Bleed Blue]

Hello my fellow regards. Long since 2017.

 

[Fishy]

Imaginary money.

Definitely a solid investment.

 

[superjohn]

Imaginary money.

Definitely a solid investment.

There's stories of people having millions, tens of millions, and even hundreds of millions of "dollars" in crypto but they can never access it.

 

[I Bleed Blue]

Imaginary money.

Definitely a solid investment.

Good enough for BlackRock, Fidelity, and the SEC, good enough for me.

 

[bfs3]

This is always the case, except when it’s down. It’s fun to play with and make some change but I would not bet my life savings. When I was working starting in 2018 to 2022, I would end my team calls with 5 minutes on the crypto market. I said buy it for your kids or grandchildren. A few bucks a week and forget about it.

That’s good advice. It wasn’t my life’s savings when I bought it but now it sure makes up a pretty big portion of it. The last year or two I’ve grown accustomed to the volatility but I do think the ETFs will lessen that to some degree.

 

[uconndogs]

Good enough for BlackRock, Fidelity, and the SEC, good enough for me.

BlackRock and Fidelity aren’t making their money investing in cryptocurrencies.

 

[mussels]

I was hoping for more of a warm and fuzzy thread. Should have known better. Hope the rest of everyone’s week goes great.
Go UCONN!

Probably coming off as more snarky than I really intend, but this stuff is very risky, and there are lots of small fry out there that don’t understand that.

Thing about these “non-fiat” block chain “currencies” is that anyone can make one - out of thin air. So you make some Scot-e coins, and I make some mussels coins. Then you buy a mussels coin from me for $1000, and I buy a Scot-e coin from you for $1000. Voila! We each still have $1000 real money, and were each sitting on a bunch of coins that have been established by the market to be worth $1,000 each. A whole infrastructure of middle men hawk and sell these things to the masses. And every once in a while we each buy more of each other’s currencies which keeps the prices going up, keeps all the other investors happpy, and stokes more FOMO.

Next, we use our great stash of crypto weath as collateral against loans from banks and private equity for fiat (real) money. Then we use the real money to buy toys and make leveraged investments that produce more real money.

Eveything is great, and everybody is happy until one of the real money investments turns sour, and one of us needs actual cash in a hurry. So I run to you and say I need you to buy a bunch of mussel coins, and you balk and say “Are you crazy? I’m not gonna shell out a bunch of real actual money for your stupid magic beans”.

And then it all falls apart. Its happened before.

 

[Fishy]

Good enough for BlackRock, Fidelity, and the SEC, good enough for me.

There’s a sucker in that equation.

Let me know when you find out who it is.