crypto currency
 

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

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.

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

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.

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.

Depends on trading platform
 

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

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%.

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

crypto club
 

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

BITCOIN GOES PUBLIC - IPO Yesterday, April 15th
 

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.

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.

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 :).

gain interest on your crypto
 

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.

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.