crypto currency

[mpefloral]

Just wondering if there are any clubs dealing with buying & selling crypto currency in or near The Villages

[RICH1]

Don't know enough about it! Evidently it's not Federally Insured... I felt it may be the biggest pyramid scheme of all time.. Our Fed chair doesn't seem to like it.

[Art cov]

I am no expert! I do know this, people are making big money on Bitcoin. If you had put $25,000 into this last March, today you could have over $240,000 in Bitcoin. I have friends who have cashed out and made a boatload of money that has made the IRS happy. Of course fee’s n taxes taken out like anything. I have also enjoyed the ride. Mr Tesla put more then a billion dol in Bitcoin and now many institutions have followed suit. I can’t explain it but it is working thus far. Many in the financial world hate it for sure, while little John Doe is getting big profits. I myself didn’t want anything to do with this stuff until friends bought houses and nice new cars off the profit. Every stock has risk. Crypto is very high risk. Tesla went from $72 a share on 3/18/20 to over $800 a share at present! 1 year. If you snooze you loose! Whenever the sky is falling and the market tumbles, then invest! Buy at big discounts so you can reap big rewards. Being smart is the key. With this current atmosphere some companies involved with electric vehicles, solar energy, and the like are going to prosper, so be ready! Study for yourself! Sometimes the big risk is very profitable, but you can loose it

[Boston-Sean]

Don't know enough about it! Evidently it's not Federally Insured...

That's kind of the point of Bitcoin.

There is nothing to insure against. No one but you has control of it. It exists on the blockchain and you are responsible for securing the Keys.

Which is a plus and a minus. Keep your keys secure and you have nothing to worry about. Lose the keys and there is no one to call to restore your bitcoin.

[kbace6]

Just wondering if there are any clubs dealing with buying & selling crypto currency in or near The Villages
I'm not in TV yet, but soon. I do own some crypto and would also be interested if there ends being a Crypto club or one is formed.

[RI401]

Don't know enough about it! Evidently it's not Federally Insured... I felt it may be the biggest pyramid scheme of all time.. Our Fed chair doesn't seem to like it.

FDIC does insure the coinbase platform. Just make sure its US based, some are outside the country. Starting to see Bitcoin atk/kiosks in the Villages. Fidelity has started a crypto division as well as Paypal and others.
Bud

[DAVES]

I am interested enough to read this thread. I am also willing to admit I makes no sense to me. The dollar is backed by the full faith and credit of the United States. My view that is not worth what it once was but, it still has more real meaning than cripto currency which is backed by nothing.

Some may think it is more stable than the dollar. Clearly it is not.

Making money on cripto currency. This is not the first time in history this has happened.
It happened with Tulip bulbs. Just like cripto some people did make a lot of money.
It collapsed when people started to wonder about the real value of tulip bulbs. Perhaps, like the game of musical chairs. People were left standing with no seat no matter what they had paid to play. It is not even black market currency. The tax man sees all and demands his cut. Losses? The tax man will eat his percentage, not the whole loss up to
I think the number is $3,000.

Good luck if you decide to play this game. Aside, reality the S&P average as of 3/30/21, for the year is up 56.35%.

[Debfrommaine]

When setting up a coinbase account they want bank username and password.....can't do it.

[DylanTodd]

There was a previous thread about crypto that had some good traction with multiple posts for several days. I have actually printed off the Villages Club application and I intend to start a crypto club. I have never started a club before so we will see how this goes!

Cheers,

Dylan

[b0bd0herty]

It happened and the CEO of Coinbase (a company which specializes in crytocurrency) immediately became one of the richest men in America. Its IPO netted $13,000,000,000 ($13 Billion) dollars after the initial offering.
The company is now valued at $99,000,000,000 ($99 Billion) dollars.

[Boston-Sean]

When setting up a coinbase account they want bank username and password.....can't do it.

I don't think they required that when I setup my account a few years ago but they definitely complied with the KYC (Know Your Customer) laws.

[Debfrommaine]

I don't think they required that when I setup my account a few years ago but they definitely complied with the KYC (Know Your Customer) laws.

My comfort level just isn't there yet. The gal at the bank said it would be secure but......ugh.....can't wrap my head around that info being in cyber space.....just yet.

[Malsua]

I opened an account at ALLY bank just for trading crypto via coinbase. I am not comfortable giving my main bank details out as well so ALLY fit the bill.

I also use it as a landing space for my Ebay sales since Ebay wants a bank account too.

It's been a great bank, better than my "main" bank. lol. No cost checking and you actually earn a tiny little bit of interest on any money in the account. You can also use it for trading stocks, etfs, etc.

The online and phone tools are super easy.

My crypto is really doing well, shrug. Seems to have almost doubled so far this year. I've got it in a handful of different coins that I think may do well.

I also bought some doge and siacoins (on Kraken) when they were really low. Both of those are doing really well too!

It's all a house of cards, but selling a bunch of Junk on ebay has turned into a nice pile of change for my next 500hp vehicle :).

[DylanTodd]

If anyone is holding any amount of crypto I would suggest moving it off of Coinbase into Blockfi which is essentially a high interest savings account. I am making almost 5.5% on all my crypto monthly.

[tophcfa]

Shady stuff. I understand it has made many speculators lots of $$, but it is way too intangible for me to commit my hard earned capital to. I am old school and prefer real tangible assets to invest in.

[Boston-Sean]

Not saying this applies to anyone in this thread ...

[DaddyD]

When setting up a coinbase account they want bank username and password.....can't do it.

I have a coinbase (& coinbase pro) account and make ACH transfers from my bank to coinbase. I had to give coinbase my banks routing # and of course my checking account #, but I definitely did NOT have to give them the username and password I use to log in to my bank account.

[DaddyD]

FDIC does insure the coinbase platform. Just make sure its US based, some are outside the country. Starting to see Bitcoin atk/kiosks in the Villages. Fidelity has started a crypto division as well as Paypal and others.
Bud

Insurance at coinbase does NOT cover any coins you have stored at coinbase. The only insurance that you have is for U.S. dollars in your account at coinbase.

[RI401]

Insurance at coinbase does NOT cover any coins you have stored at coinbase. The only insurance that you have is for U.S. dollars in your account at coinbase.

You protect the crypto using a hardware (cold storage wallet). Because they are not actually coins.
Bud

[CoachKandSportsguy]

The tax man sees all and demands his cut.

LOL! man turns down winning lottery tickets because he can't keep it all. Afraid to make extra money because he has to share. . .

Per this belief, one should only make the minimum amount of money which he doesn't share with anyone else. . .

where do these misguided beliefs about making money come from?

[lkagele]

The dollar is backed by the full faith and credit of the United States.
Good luck if you decide to play this game. Aside, reality the S&P average as of 3/30/21, for the year is up 56.35%.

That's a hoot. The full faith and credit of the US ain't what it used to be. Federal Reserve founded in 1913 and its subsequent manipulation of our currency has resulted in a 99% decline in the dollars purchasing power. Roosevelt making gold ownership illegal and Nixon taking the US off the gold standard subsequently contributed.

The fact there's a limited supply of BitCoin, it can't be manipulated by a greedy government and every transaction is transparent for all to see are reasons why many find it so attractive. Those same reasons are why it scares the hell out of politicians, the Treasury Department and the Federal Reserve. No more manipulation? My God, how do you expect a government to survive?......

BTW, the S&P is up around 8% +/- YTD.

[Debfrommaine]

My comfort level just isn't there yet. The gal at the bank said it would be secure but......ugh.....can't wrap my head around that info being in cyber space.....just yet.

It is Coinbase who wants my bank online user name and password when setting up an account......anyone else having a feeling about this? Thanks

[Malsua]

It is Coinbase who wants my bank online user name and password when setting up an account......anyone else having a feeling about this? Thanks

Coinbase is the world's largest crypto currency exchange. If they were stealing bank accounts, they'd be sued out of business by now.

That said, I am not worried about Coinbase stealing my banking info. I am worried about providing it and someone else stealing my info from Coinbase.

This is why I created an account at ALLY bank. It's online, free and takes very little time. It's a real FDIC insured bank based in UTAH. I put money in there from my main bank account. I gave that information to Coinbase. If it gets compromised, I'm out a few hundred max until the FDIC insurance kicks in. It doesn't interrupt all the regular deposits and bill payments and such. I.e. it's a buffer. ALLY is also crypto friendly, so sending money to Coinbase won't get blocked, like my regular bank did to me some years ago.

[DaddyD]

Coinbase is the world's largest crypto currency exchange. If they were stealing bank accounts, they'd be sued out of business by now.

That said, I am not worried about Coinbase stealing my banking info. I am worried about providing it and someone else stealing my info from Coinbase.

This is why I created an account at ALLY bank. It's online, free and takes very little time. It's a real FDIC insured bank based in UTAH. I put money in there from my main bank account. I gave that information to Coinbase. If it gets compromised, I'm out a few hundred max until the FDIC insurance kicks in. It doesn't interrupt all the regular deposits and bill payments and such. I.e. it's a buffer. ALLY is also crypto friendly, so sending money to Coinbase won't get blocked, like my regular bank did to me some years ago.

@Malsua I think your solution is a good one, and everything that I've heard & read about Ally Bank has been positive. It just sucks that we've got to jump thru these extra hoops.

Emotionally I'm not comfortable giving 3rd parties my primary bank log-in information, for exactly the reasons you stated, though it truth it's probably very safe.

Oddly, when I created my Coinbase account, I'm 99% positive I was not required to share my bank account # and log-in with them. However, I opened an account at Gemini recently, and there are only two options for linking my bank account with Gemini in order to send money to Gemini--either give Gemini (actually a 4th party--"Plaid") my bank log-in info (user name & password) or have my bank send money to Gemini via old fashion wire transfer (which will probably cost me $25).

Presumably after the first wire transfer I'll be able to send future transfers from my bank to Gemini via free ACH transfers, but man, what a costly PITA!

[stan the man]

Generation gap. Don't worry the US has all that gold in Fort Knox Right ??? And a limited of currency printed

[Malsua]

@Malsua I think your solution is a good one, and everything that I've heard & read about Ally Bank has been positive. It just sucks that we've got to jump thru these extra hoops.

Emotionally I'm not comfortable giving 3rd parties my primary bank log-in information, for exactly the reasons you stated, though it truth it's probably very safe.

Oddly, when I created my Coinbase account, I'm 99% positive I was not required to share my bank account # and log-in with them. However, I opened an account at Gemini recently, and there are only two options for linking my bank account with Gemini in order to send money to Gemini--either give Gemini (actually a 4th party--"Plaid") my bank log-in info (user name & password) or have my bank send money to Gemini via old fashion wire transfer (which will probably cost me $25).

Presumably after the first wire transfer I'll be able to send future transfers from my bank to Gemini via free ACH transfers, but man, what a costly PITA!

When I created my coinbase account back in 2015, I was not required to give them the log in credentials to my bank account.

When I went to actually buy some BTC in 2020, it required the banking credentials which prompted me to get the ALLY account. Even though I already could trade and hold crypto. Clearly the Feds updated identification requirements.

[JoelJohnson]

In college I had a professor tell us "Don't invest beyond the sleeping point", if you so much invested you can't sleep, you have too much invested. This is true of crypto currency.

[DaddyD]

In college I had a professor tell us "Don't invest beyond the sleeping point", if you so much invested you can't sleep, you have too much invested. This is true of crypto currency.

Sounds very reasonable.

imo crypto isn't pure gambling as some seem to think, but it definitely falls on the speculative side of things. At least for now.

For most (especially older) investors, I think anywhere under 5% of networth is the sweet spot. Only invest what you can afford to lose.

[DylanTodd]

If any likes ridiculously speculative alt coins check out ElonGate, a meme coin similar to doge coin, up 127% today
It is really tricky to purchase though, I think you have to go through Binance. There are several youtube video that apparently show how to do it.

[J1ceasar]

And maybe intangible, but so is options wrap around, and many other things on the investment market. The main thing is never put too much of your Capital into any one thing and enjoy life and don't worry

[Malsua]

So I'm just tossing this out there as a really quick way to lose $25.00 :)

I just bought 3.6 million safemoons for about 23 bucks.

In a few weeks these are probably going to be on other exchanges, but right now it takes a bit of a process to buy them.

I transferred about $25 of BTC to bitmart.
I bought USDT (Tether)
I used the Tether to buy safemoons.

Understand, you will LOSE this money. This is a sure flop. A guaranteed loser.

It's like dropping a Jackson on the long odds horse. They never win, right?

Anyway, I'm going to Hodl this one for a while just to watch it wither away.

Obligatory Back to the Future reference:
If my calculations are correct, When these babies hit 88 cents, you're going to see some serious ****!

[PugMom]

Bitcoin suffers biggest weekly loss since March 2020 - MarketWatch (https://www.marketwatch.com/story/bitcoin-drops-below-50-000-dented-by-rising-u-s-tax-worries-11619156593)

[Malsua]

Bitcoin suffers biggest weekly loss since March 2020 - MarketWatch (https://www.marketwatch.com/story/bitcoin-drops-below-50-000-dented-by-rising-u-s-tax-worries-11619156593)

This is a result of the threat to BTC whales by the current administration proposal on capital gains .

If I were sitting on a pile of BTC, I'd be attempting to unwind some of it now at the current rate.

It's also a good time to buy some BTC relative to the recent market, so I bought $100 this morning. heh.

It's all speculative to me, so I'm not particularly worried if it drops back significantly.

[Boston-Sean]

Bitcoin suffers biggest weekly loss since March 2020 - MarketWatch (https://www.marketwatch.com/story/bitcoin-drops-below-50-000-dented-by-rising-u-s-tax-worries-11619156593)

It's not a "big" bitcoin loss unless it reaches 75%.

Now that Wall st. is getting in the game it seems like big money is stepping in on these drops.

But it's bitcoin so who the hell knows.

[Boston-Sean]

I cam across an interesting theory about how Central Banks view Bitcoin.

The theory is that CB's are happy to have the Crypto market to function as a release valve while the CB's print endless amounts of Fiat currency. Without the Crypto markets all that money ($2 trillion) would be flowing into "real" asset classes like real estate and the stock market thereby inflating bubbles the CB's have difficulties deflating.

Crypto Bubble(s) would seem to have little effect on the real economy unlike things like a real estate bubble.

That's the theory for how they view it now, while they are printing fiat.

If\When they stop printing fiat the theory goes that the CB's will turn on Bitcoin and fight against it.

Not that they'll be able to do anything.

[Pballer]

Will the club be involved in the two primary uses of cryptocurrency as a medium of exchange - ransomware extortion and money laundering?

[DylanTodd]

I am with Malsua, I had picked up some Elon-gate, worth way less than a penny and I think I have 1 mil plus of it. It's a silly meme coin like Doge, if the Elon crazies get ahold of this one it would be a healthy pay off, well worth the $250 risk.

[Boston-Sean]

This sounds like solid financial advice:

Financial Experts Recommend Inventing Time Machine, Going Back To 2009 And Telling Yourself To Buy Bitcoin | The Babylon Bee (https://babylonbee.com/news/financial-experts-recommend-inventing-time-machine-going-back-to-2009-and-telling-yourself-to-buy-bitcoin)

[DylanTodd]

Anyone else enjoying the Ethereum gains right now?

[kbace6]

I am enjoying ALL of my crypto gains! But yes, especially Ethereum.

[Malsua]

I am enjoying ALL of my crypto gains! But yes, especially Ethereum.

Except the Eth gas prices. Sheesh.

[rustyp]

SDR's will be the new world currency standard.

[stan the man]

So much knowledge here in the TV.

[DaddyD]

Anyone else enjoying the Ethereum gains right now?

100% yes.

However, I'm hesitant to purchase more at this price (currently $4,000+). Not due to any kind of technical analysis or anything, I'm just assuming that at some point there will be a dip. But then again I guess it's just as possible that I'll be kicking myself 3 months from now when eth is at $6K that I didn't buy more when it was "only" $4K.

[lkagele]

I cam across an interesting theory about how Central Banks view Bitcoin.

The theory is that CB's are happy to have the Crypto market to function as a release valve while the CB's print endless amounts of Fiat currency. Without the Crypto markets all that money ($2 trillion) would be flowing into "real" asset classes like real estate and the stock market thereby inflating bubbles the CB's have difficulties deflating.

Crypto Bubble(s) would seem to have little effect on the real economy unlike things like a real estate bubble.

That's the theory for how they view it now, while they are printing fiat.

If\When they stop printing fiat the theory goes that the CB's will turn on Bitcoin and fight against it.

Not that they'll be able to do anything.

Good analysis and probably more than just a little truth. The only place I disagree is that they probably will be able to do something about crypto through regulation.

[lkagele]

Except the Eth gas prices. Sheesh.

I know what you mean. Been trying to buy a small position ($250 +/-) for a couple of days now. Gas fees quoted have been as high as $525. Today, still at $60 which is still too high. I'll just keep trying.

[tophcfa]

I am with Malsua, I had picked up some Elon-gate, worth way less than a penny and I think I have 1 mil plus of it. It's a silly meme coin like Doge, if the Elon crazies get ahold of this one it would be a healthy pay off, well worth the $250 risk.

After trying to watch the Elon Clown on Saturday Night Live attempting to explain what a digital currency is, I think the smart money would short the intangible digital asset that is backed by nothing.

[DaddyD]

I cam across an interesting theory about how Central Banks view Bitcoin.

The theory is that CB's are happy to have the Crypto market to function as a release valve while the CB's print endless amounts of Fiat currency. Without the Crypto markets all that money ($2 trillion) would be flowing into "real" asset classes like real estate and the stock market thereby inflating bubbles the CB's have difficulties deflating.

Crypto Bubble(s) would seem to have little effect on the real economy unlike things like a real estate bubble.

That's the theory for how they view it now, while they are printing fiat.

If\When they stop printing fiat the theory goes that the CB's will turn on Bitcoin and fight against it.

Not that they'll be able to do anything.

Really interesting theory--please post any links you can find discussing this theory.

[DaddyD]

After trying to watch the Elon Clown on Saturday Night Live attempting to explain what a digital currency is, I think the smart money would short the intangible digital asset that is backed by nothing.

Presumably you understand that that was a SNL comedy sketch, not an honest attempt at explaining crypto.

Not all crypto is created equal...but yea, Doge is a hustle. But that doesn't mean it won't moon once it gets listed on Coinbase in a few weeks.

[Koapaka]

This is a result of the threat to BTC whales by the current administration proposal on capital gains .

If I were sitting on a pile of BTC, I'd be attempting to unwind some of it now at the current rate.

It's also a good time to buy some BTC relative to the recent market, so I bought $100 this morning. heh.

It's all speculative to me, so I'm not particularly worried if it drops back significantly.

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

[Malsua]

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

I _wish_ I had jumped in bigger on my Doge holding. Coinbase is 6-8 weeks from listing it.
It will go up once it's on Coinbase. Like it or not, it has a large enough market cap right now to be a real player. It could easily see $1.50. If the devs built any kind of deflationary mechanisms into it, it could really appreciate well past that number. As it stands there's just so many circulating Doge (and more mining every day) that to hit a stupid number like $5 it'd have to supplant BTC and I don't see how that's possible.

That said, Musk did tweet he'd like to see the block size go up, the transaction time go down and the transaction fees go down a lot. This would make Doge a good bet for micro-transactions. Litecoin was built for this reason. Doge is a fork of litecoin, which was a fork of Lucky coin and ultimately a fork of BTC.

For these reasons, Doge will probably spike to $1 this year before a big pullback as people start selling at limits approaching $1.

[DaddyD]

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

The day / week is far from over, but based on the market movement over the last 12 hours, if you started a paid btc newsletter, I'd likely subscribe! Nice call!!

Did you grab some sub $0.30 doge??

[rustyp]

"Black Wednesday" is the new "Black Thursday."

The cryptocurrency market is in the middle of a massive meltdown that could rival the pandemic-driven crash that took place on March 13, 2020. Plenty of the top altcoins have erased more than half of their value in less than 24 hours.

ADA and XRP have both plunged below the $1 level. Meanwhile, Dogecoin dipped to $0.21.

[Koapaka]

The day / week is far from over, but based on the market movement over the last 12 hours, if you started a paid btc newsletter, I'd likely subscribe! Nice call!!

Did you grab some sub $0.30 doge??

As a matter of fact, no....but did get at 0.37. The bounce in BC has begun from that level, but hold on because I believe soon we will see it down to close to $20K per BC because of Chinas influence on the price. They are trying HARD to replace the USD with their Crypto Yuan....very few bother to see the implication of their influence on world currencies and finances.....but once it recovers to maybe $45K I think you are going to get the "keep people out of the market" manipulation. When people tell me BC is not a "real" currency, I remind them that it takes a LOT of their fiat to buy ONE of my BC. I will be buying a lot more when it gets close to that $20K mark.....but from there it is going to be solid for a while.

[Catalina36]

STAY FAR AWAY FROM CRYPTO CURRENCY, its a big scam like a pyramid ready to fall.
Of course many people made money because they got out quickly. Talk about gambling with your money??

[Brad-tv]

Anyone buy more crypto during the fire sale yesterday?? The sale is still going discounts are shrinking!!

Nice rebound!!

[STLRAY]

I wonder about all of the new crypto out there. Basically, anyone with enough computer skills can create their own currency and when a million people all over the world do this, I wonder if the whole thing vanishes. I do wish my friends who are into crypto the best of luck, but I will be watching from the sidelines.

[Brad-tv]

Safemoon is the new hot crypto now getting all the hype but is a huge hassle to buy and a little sketchy. I know a lot of younger people who are buying it but seems super risky

[DaddyD]

As a matter of fact, no....but did get at 0.37. The bounce in BC has begun from that level, but hold on because I believe soon we will see it down to close to $20K per BC because of Chinas influence on the price. They are trying HARD to replace the USD with their Crypto Yuan....very few bother to see the implication of their influence on world currencies and finances.....but once it recovers to maybe $45K I think you are going to get the "keep people out of the market" manipulation. When people tell me BC is not a "real" currency, I remind them that it takes a LOT of their fiat to buy ONE of my BC. I will be buying a lot more when it gets close to that $20K mark.....but from there it is going to be solid for a while.

Couple things:
1) After I made the post on here I logged into my gemini account and put in a limit buy order for doge @ $0.30 (even though i swore I'd never buy doge or any other crap coins). Dang if it didn't fill later that day! I'm not into trading crypto (strictly buy & hold) but I assume doge price will pump when coinbase adds it their exchange soon, so just gambling with that.

2) I hear what you're saying with regard to China, but it's my understanding that they hold a @#$%load of U.S. dollars. I get it that China's leaders are playing long game and surely want to be THE World Superpower, but I question whether their intentionally taking the dollar is actually in their best interest.

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?

[Koapaka]

Couple things:
1) After I made the post on here I logged into my gemini account and put in a limit buy order for doge @ $0.30 (even though i swore I'd never buy doge or any other crap coins). Dang if it didn't fill later that day! I'm not into trading crypto (strictly buy & hold) but I assume doge price will pump when coinbase adds it their exchange soon, so just gambling with that.

2) I hear what you're saying with regard to China, but it's my understanding that they hold a @#$%load of U.S. dollars. I get it that China's leaders are playing long game and surely want to be THE World Superpower, but I question whether their intentionally taking the dollar is actually in their best interest.

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?

1)--Great news, you got a steal. Yes, I think with Coinbase recognizes them, you will see at least $1-$1.25 pump before initial profit taking.

2) You are correct on the USD that China holds and how it could be counterproductive, but as fiat erodes (and we are seeing it do so quickly into early 2021 with inflation, supply chain shortages, etc), it is kinda with having made a bad loan position, you shift anything and anything you can (i.e, tax write off) to help offset that loss. I personally feel they are in that redistribution mode now, and cryptos are the easiest way to do it from behind the focus of stocks/USD related transactions that are daily scrutinized by those in charge of the Central Bank communities.

It is important to remember there is a HUGE community (folks our ages mostly) that are very much against/opposed to "crypto" that are sitting on HUGE nest eggs. Those assets will be passed on to our kids/grands. The vast majority of folks in our age group think "crypto is dangerous but the stock market is not" based on history of performance. Well folks, we have made more in crypto profits (or gains I should say, you never record a "profit" or "loss" until you sell, right?) In the 7 years that I have "dabbled" in crypto's we have profited more than our entire working life with a minimum of 6% and a maximum of 25% of our pre taxed income put into savings (some of it matching contribution from employer) during our collective 72 yr working life. The money I "play" with in crypto is to pass on to grands, our kiddos get the rest of the assets.

3) I believe (JMHO) that you are about to see employees get the option of being paid in cryptos or USD. I also believe that we are less than 3-5 yrs away from seeing people be able to "borrow against vs sell" their cryptos as need arises. In my opinion that classifies it as true "assets". This is the wave of the future, this is the equivalent to our children watching us get pensions vs them only getting 401K for retirement portion of our lives. Not unlike the early 90's and those of us that said "what the hell is internet and why would we ever need it?".....times evolve. You try and keep up, or you fall behind. (I realized that when I totally fought the internet thingee for years.....that was my Ahhh-Haaaa experience).

On the PM basis, there are two very different types. IF you own and HOLD precious metals, it is WAY different than if you own and hold stocks.....PHYSICAL is convertible, paper is paper.

4) ETH is SOLID. One of my major holdings, much cheaper on transaction (as is Litecoin) than BC.

I laugh when I think how many of us old farts that think "cryptos are dangerous" have no idea how what we leave behind to those we love will be converted to Block Chain Technology based currencies.

HAVE AN AWESOME FRIDAY!

[Brad-tv]

Ethereum ETH is definitely a buy right now it just hit its ATH ( all time high) on the 12tb around 4400 now it’s around 26-2700 that’s a bargain. It’s the number 2 crypto and more widely used than bitcoin. Plus Ethereum 2.0 is coming soon and it will eliminate all the miners expecting to go way over 10k . Besides you can buy as little as you want if you want to dabble in crypto as a test. Your not going to lose sleep over a $100 if it drops a bit temporarily.
Crypto is way more exciting than stocks and the way of the future. Risky absolutely but stocks are also. One bad report from a biased technician and stocks tumble too.
And doge coin is fun too I originally got in at .007 and it went up to .75 now it’s down but I’m playing with the houses money and I still have 13000 coins left. If you buy a few hundred at .30-.40 right now and it doubles or triples and it probably will ring the register and get your cost back .
Have Fun

[Koapaka]

Ethereum ETH is definitely a buy right now it just hit its ATH ( all time high) on the 12tb around 4400 now it’s around 26-2700 that’s a bargain. It’s the number 2 crypto and more widely used than bitcoin. Plus Ethereum 2.0 is coming soon and it will eliminate all the miners expecting to go way over 10k . Besides you can buy as little as you want if you want to dabble in crypto as a test. Your not going to lose sleep over a $100 if it drops a bit temporarily.
Crypto is way more exciting than stocks and the way of the future. Risky absolutely but stocks are also. One bad report from a biased technician and stocks tumble too.
And doge coin is fun too I originally got in at .007 and it went up to .75 now it’s down but I’m playing with the houses money and I still have 13000 coins left. If you buy a few hundred at .30-.40 right now and it doubles or triples and it probably will ring the register and get your cost back .
Have Fun

Could not agree more....kept me busy and actively engaged with the lockdown time especially! People just don't get there is a REASON the first question the IRS asks on your tax form is have you bought or sold cryptos in this tax year....THEY know it is the future.

I have to wonder how many people that claim cryptos are WAY to dangerous sit at a slot machine, a blackjack table, or play craps when given the chance.

[Brad-tv]

Could not agree more....kept me busy and actively engaged with the lockdown time especially! People just don't get there is a REASON the first question the IRS asks on your tax form is have you bought or sold cryptos in this tax year....THEY know it is the future.

I have to wonder how many people that claim cryptos are WAY to dangerous sit at a slot machine, a blackjack table, or play craps when given the chance.

Haha
True

Not to mention that when all the giant institutional firms are all waiting for approval on their own ETFs for crypto they will explode
Fidelity, JP Morgan , Morgan Stanley to name a few

[JP]

Crypto currency is a joke and when China bans it, all of it will fail, as it should.

[tophcfa]

Could not agree more....kept me busy and actively engaged with the lockdown time especially! People just don't get there is a REASON the first question the IRS asks on your tax form is have you bought or sold cryptos in this tax year....THEY know it is the future.

I have to wonder how many people that claim cryptos are WAY to dangerous sit at a slot machine, a blackjack table, or play craps when given the chance.

Wrong, the IRS is interested in crypto because they know people have made a lot of money on it and they desperately want to collect taxes on any and all profits.

[Koapaka]

Cryptos are not for everyone....however I believe there will be an announcement VERY soon at your local banks that Crypto currencies will be available at your local venue to ensure that those in the know will benefit from the transition. The commodities markets, the rate of inflation between now and 2022, the uncertainty of people returning to work (take away the fed $$$$ being handed out to now handing out $$$$ based on number of kiddos you have)....it is totally falling apart on them. The wheels are falling off the Central Bank Economy, and anyone that can not see that (lumber, oil, food, meats, gas) are sticking their heads in the sand.....this is the 70's repeating themselves, except Cryptos offer something we did not have. The Treasury Dept said they will have their "outline" for their digital currency in place by summer 2021. Ain't gonna happen in time to save the Central Banking System. If you refuse to believe the "supply chain" is broken, just try to buy a golf cart, furniture, gas, a new car, and you will quickly understand the above statement.

The entire world is soon gonna look like Cuba...you better have what you need, or you are not going to be able to secure it regardless of money you can throw at it. The last time you had trouble buying a new car was in the 70's and before that right after WWII. HISTORY REPEATS ITSELF

[Koapaka]

Wrong, the IRS is interested in crypto because they know people have made a lot of money on it and they desperately want to collect taxes on any and all profits.

EXACTLY my point! People HAVE and will CONTINUE to make a lot of money off of them......Hello!!!!!!

[lkagele]

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?

I view BTC as an invention. Satoshi Nakamoto simply invented a new type of currency. It's value wasn't simply established out of thin air either. A lot of time and effort went into the original programing. Even now, a great deal of time, effort and expense to mine additional coins. Not too unlike the gold miner. Instead of a crushing mill to recover the gold, they're using servers and computing power.

The market/public will determine whether or not it's viable in the long run. It's appeal is that it can't be manipulated. By 2030 (I think) all the coins that are available will be in play. No more will ever be created. It's in its infancy and still highly volatile but there's little doubt it is shaping up as a store of value. Just ask the folks that bought in at the 10K range.

ETH looks like it might be a keeper as well. It's the fuel that runs smart contracts by way of blockchain technology. It's got some issues right now with speed and transaction costs. There are, however, other programs with their own cryptos that are working to fix the issues.

[Malsua]

Even now, a great deal of time, effort and expense to mine additional coins. Not too unlike the gold miner.

Have you seen the server farms in abandoned Olivine mines in Norway? Astounding. Shipping containers are placed in the mine and each container has 210 Antminer S9s. The chillers exchange heat with seawater and the energy is mostly hydro. BTC really does represent some work!

[Koapaka]

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.


BINGO!!!! Here is your "fire sale"! Buy all you can afford. MSN (https://www.msn.com/en-us/money/markets/bitcoin-just-broke-below-dollar30000-for-first-time-since-january-and-it-is-likely-we-may-see-more-panic-in-the-market/ar-AALjs1Z)

[Koapaka]

For those wanting to see the potential, here ya go.

Access Denied (https://www.nasdaq.com/articles/q2-holdings-and-nydig-announces-collaboration-2021-06-24)

(I have NO idea why it says Access Denied, I clicked on the link and it is attached.)

[Malsua]

For those wanting to see the potential, here ya go.

Access Denied (https://www.nasdaq.com/articles/q2-holdings-and-nydig-announces-collaboration-2021-06-24)

(I have NO idea why it says Access Denied, I clicked on the link and it is attached.)

Andrei Jikh has a good take on it as well see the link below. When Fed coin comes into play, it's going to change a lot of things. Instead of it taking 3 days to ACH money, it may take 10 minutes, then ultimately it'll be instantaneous. Why pay Visa 2% for a transaction when you can do it with fedcoin for almost free? Visa will have to lower fees and up the service and benefits or will be out of business.


Our Government Is Creating A Cryptocurrency | What You MUST Know - YouTube (https://www.youtube.com/watch?v=wWWd99AJPmg)

[Bay Kid]

Cryptos are not for everyone....however I believe there will be an announcement VERY soon at your local banks that Crypto currencies will be available at your local venue to ensure that those in the know will benefit from the transition. The commodities markets, the rate of inflation between now and 2022, the uncertainty of people returning to work (take away the fed $$$$ being handed out to now handing out $$$$ based on number of kiddos you have)....it is totally falling apart on them. The wheels are falling off the Central Bank Economy, and anyone that can not see that (lumber, oil, food, meats, gas) are sticking their heads in the sand.....this is the 70's repeating themselves, except Cryptos offer something we did not have. The Treasury Dept said they will have their "outline" for their digital currency in place by summer 2021. Ain't gonna happen in time to save the Central Banking System. If you refuse to believe the "supply chain" is broken, just try to buy a golf cart, furniture, gas, a new car, and you will quickly understand the above statement.

The entire world is soon gonna look like Cuba...you better have what you need, or you are not going to be able to secure it regardless of money you can throw at it. The last time you had trouble buying a new car was in the 70's and before that right after WWII. HISTORY REPEATS ITSELF

Scary if the govern will be charge of our money.

[Koapaka]

Which is why decentralized cryptos are the way to go...and Bitcoin will be in the 6 figures by 1 Jan 2022.

[eingalls]

Just wondering if there are any clubs dealing with buying & selling crypto currency in or near The Villages
if there are any clubs please post them or contact me directly, I am interested in joining.

Thank you
Ed
ultimagtr@gmail.com

[DaddyD]

As expected, 2021 has been a wild ride in the world of crypto. A few months ago I was down nearly 50% from my cost basis, but I just checked my balances and I'm currently up over 50%.

For those of you who HODL, how are you doing year-to-date?

A few months ago I started hearing more and more about a coin called Solana, but since I didn't really understand the project and I had already invested all I was comfortable investing in crypto, I didn't buy any SOL. Short term at least it was a poor decision, when I first began looking into SOL over the summer it was selling for around $30, today it's at nearly $175/coin!

In other news I bought the Gemini dollar stable coin (GUSD) on the Gemini exchange and am earning 8% interest on my GUSD balance.

[Koapaka]

As expected, 2021 has been a wild ride in the world of crypto. A few months ago I was down nearly 50% from my cost basis, but I just checked my balances and I'm currently up over 50%.

For those of you who HODL, how are you doing year-to-date?

A few months ago I started hearing more and more about a coin called Solana, but since I didn't really understand the project and I had already invested all I was comfortable investing in crypto, I didn't buy any SOL. Short term at least it was a poor decision, when I first began looking into SOL over the summer it was selling for around $30, today it's at nearly $175/coin!

In other news I bought the Gemini dollar stable coin (GUSD) on the Gemini exchange and am earning 8% interest on my GUSD balance.

After studying, CARDANO is my next crypto of choice....study it and you will see why. It is the 3rd largest crypto currency behind Bitcoin and Ethereum.

[coralway]

As expected, 2021 has been a wild ride in the world of crypto. A few months ago I was down nearly 50% from my cost basis, but I just checked my balances and I'm currently up over 50%.

For those of you who HODL, how are you doing year-to-date?

A few months ago I started hearing more and more about a coin called Solana, but since I didn't really understand the project and I had already invested all I was comfortable investing in crypto, I didn't buy any SOL. Short term at least it was a poor decision, when I first began looking into SOL over the summer it was selling for around $30, today it's at nearly $175/coin!

In other news I bought the Gemini dollar stable coin (GUSD) on the Gemini exchange and am earning 8% interest on my GUSD balance.






I am HODL 0.5 BTC. Got in November 2018, so about 3 years now. I also hold about 180,000 NYC (New York Coin). It moves when BTC does, and in the same direction. 180,000 NYC cost me about 50 bucks a couple of years ago.

[Brad-tv]

As expected, 2021 has been a wild ride in the world of crypto. A few months ago I was down nearly 50% from my cost basis, but I just checked my balances and I'm currently up over 50%.

For those of you who HODL, how are you doing year-to-date?

A few months ago I started hearing more and more about a coin called Solana, but since I didn't really understand the project and I had already invested all I was comfortable investing in crypto, I didn't buy any SOL. Short term at least it was a poor decision, when I first began looking into SOL over the summer it was selling for around $30, today it's at nearly $175/coin!

In other news I bought the Gemini dollar stable coin (GUSD) on the Gemini exchange and am earning 8% interest on my GUSD balance.


Year to date doing great even with today’s dip . Hodl and buy on the dips. I missed SOL and thought today would be a good time to get in but it only dipped for a little while and I missed it.

[Brad-tv]

After studying, CARDANO is my next crypto of choice....study it and you will see why. It is the 3rd largest crypto currency behind Bitcoin and Ethereum.

Yes Cardano/ ADA is going to go big
I got in at 1.25 and bought more at 2.50 waiting on the smart contracts to come and should go way higher. People are getting sick of high etho fees and Ada is the next big thing ( we hope) . All long term plays!!

[jerseyvillager]

It is Coinbase who wants my bank online user name and password when setting up an account......anyone else having a feeling about this? Thanks

Not true if you are being asked for that info it is probably a fraudulent sight.

[DaddyD]

Year to date doing great even with today’s dip . Hodl and buy on the dips. I missed SOL and thought today would be a good time to get in but it only dipped for a little while and I missed it.

Consider placing limit orders at a specified price to take advantage of dips that you might otherwise miss.

[DaddyD]

After studying, CARDANO is my next crypto of choice....study it and you will see why. It is the 3rd largest crypto currency behind Bitcoin and Ethereum.

BTC & ETH are my primary holdings (probably 85%?) with the rest divided up in roughly equal amounts of other alt coins, including ADA.