The Cryptocurrency thread

[UglyCasanova]

Yeah, I had some "fuck you" money back in September that I wasn't sure what to do with, and my girlfriend made me invest in cryptocurrency. She has done very well doing so, so I wasn't too hard to convince. I guess I'm a little hooked now after seeing my initial investment go up almost 75% in a little over two months. I'm playing it fairly safe with BitCoin, Ethereum and IOTA as my main currencies.

Are you into it? Got any predictions? Is the economic future binary or is it a bubble that's about to burst? Let's hear your stories and thoughts!

[neonblack]

I don't have enough money to invest in anything but someone needs to name their band Cryptocurrency

[Chankgeez]

[Ugly Nora]

My prediction is that you will either make a lot of money or lose a lot of money, possibly both, but definitely not neither.

[Olin]

My prediction is that you will either make a lot of money or lose a lot of money, possibly both, but definitely not neither.

This is a safe assumption.

Cryptocurrencies freak me out, seems pretty dense to get into and I get really anxious thinking about things like a harddrive dying and losing all your stuff.

[UglyCasanova]

My prediction is that you will either make a lot of money or lose a lot of money, possibly both, but definitely not neither.

This sounds about right.

GF has had a good year. 885% profit.

[Jwar]

Is this like Bitcoin which I opted out of like a fucking moron when it came out. My buddy and I were talking about that. We'd both be fucking millionaires right now because you could set up you PC to mine the shit when it first came out. 1 bitcoin is worth about 8700 USD right now.

One thing to note is there have been a lot of other "currencies" like this that just outright took peoples money and ran away. So, it's like gambling. If you got it, do it, if you don't, then well, don't.

[UglyCasanova]

1 bitcoin is worth about 8700 USD right now.

There was a dude who ordered two pizzas and paid in bitcoin back in 2010. He paid around 10,000 bitcoin.

[Ugly Nora]

Yeah this stuff is a total gamble. If it works out, you can strike it rich. If it doesn't, you could be wearing a barrel. No one knows. Same thing with marijuana stocks. Pick the right one and you could be living the high life.

[UglyCasanova]

Well, you know...you don't have to go all in.

Edit: twss

[Ugly Nora]

Yeah that's the smart thing to do obviously. Mark Cuban said if you invest in bitcoin to pretend like you already lost your money. He's not saying it is a bad investment, he means you should just be prepared to lose all your money on any high risk/high reward investment. So, only invest what you can afford to lose. Avoid the barrel.

[greyscales]

Cryptocurrency is one of those things that I'm really curious about but am really intimidated by at the same time.
Kinda like modular.



How do you guys decide which currency to get into and have you actually used it for any transactions or is it strictly investment?

[UglyCasanova]

I simply went for the biggest ones that seemed to have withstood the test of time (even if that span of time is extremely small in the economic world), plus some smaller amounts in a few higher risk/higher reward ones, none of which have paid off yet. I have no plans to use them in transactions, only investment. I've given myself a 3 year plan, meaning I'm not gonna touch them for at least 3 years. I may shuffle them around and trade for different currencies, but I'm not gonna withdraw anything. Again, I've only put in an amount that I'm comfortable with losing.

Yeah that's the smart thing to do obviously. Mark Cuban said if you invest in bitcoin to pretend like you already lost your money. He's not saying it is a bad investment, he means you should just be prepared to lose all your money on any high risk/high reward investment. So, only invest what you can afford to lose. Avoid the barrel.

I agree with this. Some of my friends have gone "all in", and it worries me. Either I'm gonna have to take them in if they lose it all or hope they will invite me to live in their mansion if they don't.

[Jwar]

I own real estate. I'm already too heavily involved in that shit to mess with this. Hope some of you get rich though.

[Chankgeez]

I think you need to diversify your holdings.

http://fortune.com/2017/11/24/bitcoin-c ... investing/

http://fortune.com/2017/11/25/lost-bitcoins/