OT. Crypto

[uconndogs]

There’s a sucker in that equation.

Let me know when you find out who it is.

lol.......the answer to that question is of the four parties mentioned, only one has the potential to lose money.....

 

[Hi-Low]

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 jumped in on a small amount of XRP as a flyer after Xmas....my niece said it could take off in coming next few years. What the heck I had no idea, but as a flyer with money you're willing to lose it's worth taking a stake. I bought a book on crypto and it's slowly starting to make some sense

I use Gemini app to buy/hold....very easy to use but I'm guessing there are better ways to buy/hold crypto. For my needs it seems like a legit app but not a recommend by any means, just personal experience from a novice. I've added smalll amounts of SOL, ETH, BTC and I'm a little ahead since Jan but I'm sure volatility is coming....just taking long term view and see what happens.

 

[I Bleed Blue]

There’s a sucker in that equation.

Let me know when you find out who it is.

Fair enough, but this is yolo money for me and always has been so I’ve come to peace that I could be the sucker. I find the returns worth the risk. No different than gambling or any other financially irresponsible investment or purchase in my mind.

And I’m also a big boglehead and that’s the backbone of my portfolio. However for individuals with the risk appetite, it’s not a completely outrageous idea to have some exposure.

 

[I Bleed Blue]

Picks and Shovels.

NVDA calls?

 

[White Dwarf]

I've been DCAing BTC weekly since 2013

 

[Fan1978]

holding VeChain, algorand, cardano, cosmos, stellar & VeThor. up over 40% YTD,

Congratulations go red or black next. This is gambling plain and simple. Hope it ends well for you

 

[Drame]

There’s a sucker in that equation.

Let me know when you find out who it is.

People have been saying that for 16 years now. People don't understand the value of tokenized or digital assets and currency. To help explain to newbs what blockchain is and can become I like to use the technological innovation of digital photography as an analogy. Analog film photography was more expensive and slower, often required specialists, and was difficult to retouch enhance and program. Digital photography revolutionized the space with social media, commerce, the internet, iphones, everyone participates. A similar thing could happen with digitized assets. Currencies are just the tip of the iceberg. Blockchain can increase the liquidity of all assets. Tokenize your art collection, developing countries tokenize their natural resources so its just not China and other oligarchs coming in to plunder. There's tons of potential. Who knows how far it will go.

 

[uconndogs]

People have been saying that for 16 years now. People don't understand the value of tokenized or digital assets and currency. To help explain to newbs what blockchain is and can become I like to use the technological innovation of digital photography as an analogy. Analog film photography was more expensive and slower, often required specialists, and was difficult to retouch enhance and program. Digital photography revolutionized the space with social media, commerce, the internet, iphones, everyone participates. A similar thing could happen with digitized assets. Currencies are just the tip of the iceberg. Blockchain can increase the liquidity of all assets. Tokenize your art collection, developing countries tokenize their natural resources so its just not China and other oligarchs coming in to plunder. There's tons of potential. Who knows how far it will go.

And again.........this is what I can't wrap my head around. Digital platforms utilizing block chain technology that build business models with revenues and cash flow.....sure, I get it. Digital currency for the sake of digital currency....maybe it becomes an accepted medium of exchange, but as an investment where is the underlying value?

 

[HuskyHawk]

And again.........this is what I can't wrap my head around. Digital platforms utilizing block chain technology that build business models with revenues and cash flow.....sure, I get it. Digital currency for the sake of digital currency....maybe it becomes an accepted medium of exchange, but as an investment where is the underlying value?

I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.

 

[uconndogs]

I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.

All the metals and gems you reference do have utility outside of being a sudo-store of value for exchange. They are also highly speculative as investments or hedges. As an aside, I don't think anyone has done particularly well holding gold over the last ten-twenty years.

As for the USD, some day the full faith and credit of the US Treasury may not allow the USD to be the stable mode of exchange it currently is. As a currency, it is meant as a store of value for exchange and performs that purpose very well. BTC with it's volatility, not so much. So, if BTC and other crypto currencies are not a stable source of value for exchange what are they providing. My answer would be speculative wagers in the hopes that others will buy at an increased value. Their is no underlying store of value or cash stream that I can understand.

 

[CONN78SEJ]

People have been saying that for 16 years now. People don't understand the value of tokenized or digital assets and currency. To help explain to newbs what blockchain is and can become I like to use the technological innovation of digital photography as an analogy. Analog film photography was more expensive and slower, often required specialists, and was difficult to retouch enhance and program. Digital photography revolutionized the space with social media, commerce, the internet, iphones, everyone participates. A similar thing could happen with digitized assets. Currencies are just the tip of the iceberg. Blockchain can increase the liquidity of all assets. Tokenize your art collection, developing countries tokenize their natural resources so its just not China and other oligarchs coming in to plunder. There's tons of potential. Who knows how far it will go.

I’m not so sure I’d want everyone participating with my digitized assets. Or effecting its value.

 

[Scot-e]

I’m not so sure I’d want everyone participating with my digitized assets. Or effecting its value.

I disagree. It‘s math.

 

[kobebeanbryant]

I’m not so sure I’d want everyone participating with my digitized assets. Or effecting its value.

I definitely want people participating with my digitized asset

 

[QuickDraw]

Congratulations go red or black next. This is gambling plain and simple. Hope it ends well for you

it's all gambling, no different then the stock market. I'm in stocks, metals & crypto with the majority in metals & the market. It's called diversification & hedging. A couple grand in crypto is not the end all be all one way or the other, if it takes off I make out and if it don't not a huge loss, no different then other investments. I would be more concerned about the markets right now because the big guys a selling off which usually followed by a major correction which we should see sometime in the next month or 2.
Banks are a guaranteed loser.

 

[CONN78SEJ]

I disagree. It‘s math.

Last time I checked, zero is a part of math.

 

[temery]

Last time I checked, zero is a part of math.

Zero is not a number according to every math teacher who does 'shrooms.

Source: a math teacher who was on 'shrooms at the time.

The science version is "there is no such thing as "cold"

 

[CONN78SEJ]

Zero is not a number according to every math teacher who does 'shrooms.

Source: a math teach who was on 'shrooms at the time.

The science version is "there is no such thing as "cold"

X squared + 1= 0……”x” does exist in mathematics.

 

[temery]

X squared + 1= 0……”x” does exist in mathematics.

Twitter² + 1 = 0. Musk sure is killing Twitter.

 

[CONN78SEJ]

Twitter² + 1 = 0. Musk sure is killing Twitter.

He is a very complex guy though.

 

[temery]

He is a very complex guy though.

In his case, X is irrational. $250 billion though ... that's a very rational number.

 

[Jimdish255]

Never "invested" in crypto and I doubt I ever will. I'm not smart enough to understand why it's just not pure speculation.

You're absolutely correct about it being speculation. Yet bitcoin has significant transactional utility at this point. I think it started out as a currency that gamers used to buy tokens although don't quote me on that. It seems a lot of them are the younger ones that got rich quick. I'm guessing a lot of that money drove the meme stocks over the years.
In the end, every investment is worth what everyone thinks it is at the moment. While I'm not a crypto investor, my general thoughts on something like Bitcoin are that it always seems to be a good investment below 20K and certainly 15K, but the chances of it going back down that far seem remote at the moment.

 

[Jimdish255]

I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.

The value of the dollar is that it is backed by our Govts GDP, it's global adoption especially as petro-currency, the ability to tax you and me to cover debt, and a huge military to protect our business interests globally if everything else falls apart. That's why playing Russian roulette with a government shutdown is such a risk for us. But I digress and don't want the thread shut down. Back to Crypto...

 

[superjohn]

Twitter² + 1 = 0. Musk sure is killing Twitter.

Can't really kill something that was already dead.

 

[I Bleed Blue]

I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.

 

[CONN78SEJ]

In his case, X is irrational.

……….and also lower case.