[sweethomeru]

Love this thread! As a HODLer from 2017 I love the discussion.

[Malsua]

Originally Posted by sweethomeru

Love this thread! As a HODLer from 2017 I love the discussion.

You spelled Holder wrong.


(was that too inside?)


Yesterday was a good Crypto day. I saw my imaginary numbers in Coinbase and Kraken go up by about 15%. It's not real until I cash out into fiat and since I'm hodling, it'll never be real until BTC hits 1million. Then USD 100s will probably be more common that sheets of TP so it'll still be worthless. lol.

[Topspinmo]

Originally Posted by Malsua

You spelled Holder wrong.


(was that too inside?)


Yesterday was a good Crypto day. I saw my imaginary numbers in Coinbase and Kraken go up by about 15%. It's not real until I cash out into fiat and since I'm hodling, it'll never be real until BTC hits 1million. Then USD 100s will probably be more common that sheets of TP so it'll still be worthless. lol.

If I was going to invest in any currency it would be the yen.

[MorTech]

Does anyone still save and use a government's money? What they don't steal in taxes, they steal using inflation. Why is Bitcoin not over $100,000 yet?

[Boston-Sean]

Originally Posted by MorTech

Does anyone still save and use a government's money? What they don't steal in taxes, they steal using inflation. Why is Bitcoin not over $100,000 yet?

After today Jerome Powell might win Bitcoin salesman of the year.

[DylanTodd]

Hi everyone, I was cruising through TOTV yesterday and came across this thread. Thanks @daddyd for creating and sharing those youtube videos. I started to get into crypto in about November. I am very drawn to the decentralized nature of it and the idea that it can be used as leverage against inflation. I have holdings in BTC, ETH and I am starting to dabble in some alt coins and I recently picked up a bunch of ADA and I am looking forward to its launch on Coinbase tomorrow. Sounds like we might have enough people interested in the neighborhood to start a club and share research?

Cheers,

Dylan

[MorTech]

"After today Jerome Powell might win Bitcoin salesman of the year"

I love this guy! He tells everyone on earth that he plans to steal from them!

"The dollar is based on the full faith and credit of the United States"

Wut? The USD is just another government money counterfeit racket. It is just the best horse in the glue factory.

[Malsua]

Just in the for what it's worth category, NFTs are making the news these days.

These are Non-Fungible-Tokens. Think bitcoins for GIFs, or pictures or whatever. I have worked my entire life in Tech of varying degrees. Bits are bits. Somehow making a particular picture or gif as a "unique" seems asinine to me. That said, if people are willing to pay for it, and have an audit trail that it is unique, who am I to argue.

Since I figure these NFTs will be a fad for a while, I was looking for somewhere to put a small amount of money. Most of the NFT crypto chains are garbage, but Coinbase has Tezos. Tezos is a platform technology that supports NFTs and NFTs will start to be minted on Tezos. Like here: Among The World's Most Significant NFT Markets Will Soon Begin Minting On Tezos (XTZ). - Media News Ontario

This means that Tezos XTZ might have a big run up. It could also fail miserably and drop to zero, kinda like Bitcoin. Will it do the same, probably not. I figure it's worth putting a few hundred in there just to see. Heck I bought Tezos at 3.83 and it's in the $4.30s now and well within churn rate, but NFTs are going to be all the rage and Tezos is in the right place to catch it. In 6 months, I'll either look smart or stupid, but for a few hundred, it's worth the risk.

[Boston-Sean]

This is a chart from a just released Deutche Bank report on Bitcoin.

[MorTech]

Originally Posted by Topspinmo

If I was going to invest in any currency it would be the yen.

With a 500% debt to GDP ratio and an aging demographic? Only RMB would be worse.

[MorTech]

Bitcoin was $2 back in November 2011. Ugh!

[lkagele]

I started investing in BTC when I discovered that PayPal had started to offer it. I'm a fan and here's why. Started last December and bought $1500 of BTC. So far, I've withdrawn over $1700 and that account is still worth over $2400. Hard not to be a fan with results like that.

I also subscribe to an investment service and one of its publications is Crypto Capital. I have started following its recommendations and have done exceedingly well albeit with small amounts. At first it was quite complicated, at least for me. There are thousands of cryptos out there but not one exchange offers all of them. Accordingly, you have to open accounts with numerous exchanges if you're going to dabble in various cryptos.

In doing that, I soon discovered that some of the exchanges charge exorbitant fees. In one account, it would cost me $30 to transfer $25 of crypto. Another, I bought $150 but the fee was $50 and it would cost me another $75 to transfer it out. I'm writing those off as losses and simply won't use those exchanges anymore. Crypto Tuition, I guess......

I also follow the investment letter's advise on selling. It's quick to recommend selling a portion to recoup your initial investment and/or to sell all because of a parabolic rise in price. When these things catch fire, it's amazing to see how fast and far they go up. Example, 1/13/21 bought Harmony (ONE) for $0.00685766 (yes, the decimal point is correct). Today it's at $0.18.

I openly admit I really don't understand where the value of the various cryptos comes from. All I know is my investment letter has been spot on with it's buy and sell recommendations. Since I don't understand the underlying asset, I'll never put a great deal of money into any of them. But the returns on the small amounts I've invested are so phenomenal that I'm going to stick with it.

I've put a little over $3500 into various crypto investments. Of that amount, I've withdrawn around $2200 which leaves a net investment of $1300. As of today, my accounts are worth over $8K. Considering this started in December, that's not too bad of a return, to say the least. And if you're wondering what I'm doing with the withdrawals; all I can say is my taste in boutique whiskeys is being satisfied.......

I'm very worried about the tax implications. I purchased a crypto tax program but like with everything crypto, it's difficult to work. So far I'm 1 for 7 in syncing exchanges with the program. Luckily, I've got plenty of time until next tax season to get it figured out.

I'd be more than happy to help anyone out with setting up accounts with the various exchanges that I've found are workable. PM me and I'll give you my experience, for what it's worth.

[Malsua]

I have accounts on 4 exchanges.

My link to the real world(i.e.play money/ebay bank acct) is through Coinbase. I buy BTC or Litecoin or Eth and pump it over to one of the other exchanges. I hold most of my value in Coinbase.

My second exchange that I keep money in is Kraken where I hold Doge and Sia and a some other minor bits. Low fees but you really have to move BTC in to get anything done.

I use Uphold to move BAT because the fee is low.

I also have a Binance account but never funded. There is always some other place.

For what it's worth, I also use the Brave browser which earns you BAT. Once you get BAT, you can send it off to Coinbase or Kraken and buy whatever you want with it. It's small amounts, but if you get a hit on one of those super cheap .0001 types that goes up to pennies, then that BAT did its job.

I have a Torum.com account and there is some way to earn XTC or ETH using it. I've not spent enough time to figure it out. Free crypto that I can convert to BTC or one or another works for me. They all get back to dollars at some point.

I would also just add in that crypto goes up spectacularly. It also goes flat just as fast, don't put your grocery money into it.

You should also look into NFTs and figure out how to capture on that one. I bought TEZOS since it can underpin NFTs. We will see if it pays off, I'm up but nothing crazy yet.

[DaddyD]

Originally Posted by fcgiii

An easy way to invest in cryptocurrencies is to buy shares in trusts that hold bitcoin. I keep y investments in eTrade and have bought shares in Grayscale Investment trusts. I own Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). I got into the game late with the bitcoin trust, started last November, but it has gone from $23 to $53 in 3 months. This is not for the faint of heart. Yesterday ETHE dropped 13%.

Well, as you say it is an "easy" way to invest (would a better word be "speculate"??) in crypto, but long-term I'm not convinced it's the best way to buy crypto.

Besides the fact that I think there's a 2% annual expense fee, Fidelity and others will likely soon be offering crypto ETFs, which I think will be a much better & less expensive way to invest in a basket of cryptocurrencies.

[DaddyD]

Originally Posted by DylanTodd

Sounds like we might have enough people interested in the neighborhood to start a club and share research?

Cheers,

Dylan

With twitter, reddit, youtube, etc., I'm not sure what new info. we could possibly share with one another that isn't easily obtained elsewhere, but nonetheless I'd be down for meeting at Starbucks or wherever and discussing with like-minded Villagers.