Crypto

A few of my co-workers and I work together watching the markets, investing news and the economy, but none of us have been brave enough to plunge into crypto investing yet. The equities markets alone are enough to keep you from sleeping at night as it is.
 
Nancy has a pretty good list of clients that she takes care of in her work, all retired elderly folks and seniors. Several of them still very active in managing their own retirements and she frequently has discussions with them about politics, current events and the effects of it all on the markets and economics for the country.
They're actually pretty sharp on money management and long-term investing. One family that she works for owns an accounting firm, and they have discussed Bitcoin on numerous occasions. Bottom line, if you were an early investor and still holding, you have done exceptionally well with it. That being said, crypto's, Bitcoin included, have struggled somewhat gaining traction becoming a universally accepted substitute or alternative to the dollar.
 
Me and a guy at work play around with it.

I have DOGE, SHIBA, BITCoin, GALA, Stellar Lumens, Crypto.com Coin, Compound, Clover, Graph, NKN, Loopring, AMP, Bounce, Fetch, Enzyme. It's all penny-stock stuff (except Bitcoin but I only have a fraction).

The most money I've made so far is on Shiba as I got in back in Sept. and it was so low I got like 4.9 million tokens. It's moved two decimal places since I got it, at one point I was up quite a bit but it's gone down and stabilized there for a while.

We treat it like going to a casino, take $50 and toss it in here, see what happens, throw some $$ there, etc.

It's also amazing how much the Crypto market moves just by someone like Elon Musk tweeting something. The only way to really make "money" on crypto is to get into something super early and then have it rage up in price. For example, since I was able to get in so early on Shiba, if it just went up to ONE CENT for a token price, I'd make almost 200k. That is how a lot of people made a bunch off Bitcoin back in the day.

The other thing really confusing is when you start looking into the crypto that is not easily tradeable on an app like Coinbase, Kraken, Robinhood, etc. Those crypto tokens you need to have a crypto wallet app setup in which you can transfer some form of crypto (like Etherum) and then use that to exchange it for the other crypto. We did a bunch of research on that stuff and the fees are crazy -- I don't see how you could ever really turn the stuff back into real dollars without losing most of it to fees.

It is definitely a different universe that is very hard to understand.


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ive got a good bit of it, about half of my crypto portfolio is treated purely as gambling like kreps said, the other half is pretty safe and consistent stuff that should continue to rise over time. i do believe in some of it pretty strongly but i do still kind of advise to only put into it what you're willing to lose like at the casino lol. its so easily influenced and w/ todays politics and stuff, who knows.
 
Think about how crazy it is that we base mostly our entire financial well being on one currency. The dollar.

Anything major happens in the world that shits worth nothing overnight.
 
MarctheSharc said:
and the dollar is based on - nothing
Click to expand...
Yeah, got rid of the gold standard once we started spending more than we brought in. With I could do that!

Once OPEC falls apart, we will be in huge trouble. The world uses our dollar to buy oil. Once that goes away, our dollar won't be worth the paper it's printed on.
 
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