Crypto discussion

[JSolution]

Crypto investors, thought I would start a thread to discuss cryptos in general, projects you believe in, new projects, how you split your investments, profit taking strategies etc etc just general crypto talk.

I will start off just by saying I believe this last quarter of the year is going to perform very strongly, BTC Has performed well recently and surpassed its ATH, which etherium has also just done. Obviously these are down slightly again now but holding well for the meantime.

Any fellow enthusiasts or investors, miners, speculators or anyone with any interest please feel free to add to the discussion.

[PackPride]

Wish you the best- I’m probably missing the boat on this investment. I’m on a more conservative path of mainly low fee mutual funds. Might miss out on the crazy run of crypto, but very happy with my 17% average over the last 10 years.

[shaunylw]

Originally Posted by PackPride

Wish you the best- I’m probably missing the boat on this investment. I’m on a more conservative path of mainly low fee mutual funds. Might miss out on the crazy run of crypto, but very happy with my 17% average over the last 10 years.

Heck ya, i would be over the moon! I’m missing the boat currently but interested in ether and getting in before things get absurd.


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[JSolution]

Originally Posted by shaunylw

Heck ya, i would be over the moon! I’m missing the boat currently but interested in ether and getting in before things get absurd.


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My strategy is to go for projects with real world uses. Personally things like Dogecoin I wouldn’t invest in but ETH as you suggested is very promising for the future, although im interested to see how Solana will stand up as a competitor.

[77T]

Both BTC & ETH have headwinds ahead that will affect the prices people pay. Each will be affected on the trading platforms and exchanges.

The different use cases for the Ethereum platform has merit beyond the financial philosophical angle of decentralized currency.

Bitcoin, on the other hand is a simpler tracking blockchain and may not survive long after the final coin is mined. It’s sole value is stability against sovereign debt/currency fluctuations. That’s also where I see a BTC zealots’ revolt brewing between the purists and the speculators.

Also, unless terrorists and hackers switch to another coin for ransoms, government risk is high. The BTC network itself has some risk of state-sponsored disruption. I believe a Pegasus-like attack by a consortium of aggrieved allies could cripple the distributed ledgers in an effort to thwart targets. (PS: I’m not mounting a political rant in any way - just assessing the government risk of BTC vs ETH)

In sum, ETH is used by developers to build and run applications on the platform. In other words, it actually can “do something” functional as a platform. That capability has lasting utility long after the speculation settles out. These smart contracts have fueled the NFT craze. While that use case may be frivolous, the decentralized applications can be used for other important functions.

Future ETH smart contracts can run without downtime, be less susceptible to fraud, and defend against interference from government control. Such utility may gain new threats from competing smart evolution in blockchain. In the same way that ETH improved upon the BTC blockchain to add utility, a future new-entrant could disintermediate ETH.

Therefore, ETH applications must be adopted by enough developers to gain a lead in the same way MS did for PC hardware. That dominance could cement long-term staying power for ETH use cases running on a blockchain.

I know that’s a long way of saying I see an inversion brewing. One where BTC may be flipped by many traders into ETH if a triggering event appears. Such an event might be global financial crisis, wide-scale internet disruptions, cyber warfare, etc.

I guess I’m saying that a smart trader would straddle BTC & ETH and maintain a 50/50 value balance on a daily basis. Short of a full shutdown - the ebb and flow of future events might be a self-healing value lock.

(PS: Full disclosure - I have no direct ownership in either BTC or ETC or any “digicoin”. Some innovation funds I own do trade in that area, but I have no direct financial gain in the opinions I expressed)

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[brandrea]

I won’t invest in things I don’t understand. I’m not being critical of those who do, but that’s a hard no for me.

Over my investing career, I’ve done very well with stocks that pay dividends (dividend growers).

[77T]

Originally Posted by brandrea

I won’t invest in things I don’t understand. I’m not being critical of those who do, but that’s a hard no for me.

Over my investing career, I’ve done very well with stocks that pay dividends (dividend growers).

Yes, that is the sound path.

Invested mostly in companies that make stuff people eat, drive, use, or burn.


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[brandrea]

Originally Posted by 77T

Yes, that is the sound path.

Invested mostly in companies that make stuff people eat, drive, use, or burn.


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[DonRickles]

My oldest son has amassed a huge sum, multi millions, in both Bitcoin and ETH!

I'm in now too!

[m j b]

I speculate a very small amount in ADA, but I'm in and out, not a HODL'r by any means.

What I simply do not understand is NFT. That just seems like nonsense to me.

[denmanproject]

I bought 1 BTC back when they were around $5K, sold it when it hit 8ish thought I made out like a bandit

[Mifune]

there are ALREADY a couple Crypto threads...

[Mifune]

Originally Posted by PackPride

Wish you the best- I’m probably missing the boat on this investment. I’m on a more conservative path of mainly low fee mutual funds. Might miss out on the crazy run of crypto, but very happy with my 17% average over the last 10 years.

it's irresponsible to not hold any crypto... personally or as a fiduciary.
you DON'T need to be 100% allocated, but you should at least assign 1-5% if you are extremely conservative... and NO ONE should be holding cash.

[enjoythemusic]

Originally Posted by Mifune

there are ALREADY a couple Crypto threads...

Seems many threads about Rolex value retention, pricing, greys.... Yeah, TRF might want to add a few stickies and migrate threads accordingly.

[Sephiroth]

Crypto investments? Never heard of that.

[Atone]

Originally Posted by Mifune

it's irresponsible to not hold any crypto... personally or as a fiduciary.
you DON'T need to be 100% allocated, but you should at least assign 1-5% if you are extremely conservative... and NO ONE should be holding cash.

I don’t know about that. I have some mining equipment and hold some crypto but no one holding cash is a bit extreme.

[shaunylw]

Originally Posted by Sephiroth

Crypto investments? Never heard of that.

Ya, neither has Goldman.


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[Atone]

Originally Posted by shaunylw

Ya, neither has Goldman.


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Lol

[SoTaxLaw]

Here’s a new take—I bought Bitcoin as a speculative bet. I tried to learn everything I could. A few months later I was invited to interview with a boutique firm. They hired me not because of my IRS or tax litigation experience but because I mentioned Bitcoin as one of my interests. They have some very big Bitcoin guys as clients. So now I’ve moved to a new firm with a nicer office, more money, better projects to work on, etc. All because of Bitcoin. And obviously the Bitcoin speculation has done well too. All of this happened just in 2021. Amazing.

[joe100]

Beyond the top ten cryptos currently, I think those involved in the NFT market have massive upside. Anyone who thinks otherwise is probably the same person saying “World Wide What??? That’ll never catch on!” In 1994. The VR and AR world is the next internet/smartphone-type revolution.

[pickettt]

Originally Posted by Mifune

it's irresponsible to not hold any crypto... personally or as a fiduciary.
you DON'T need to be 100% allocated, but you should at least assign 1-5% if you are extremely conservative... and NO ONE should be holding cash.

Originally Posted by Atone

I don’t know about that. I have some mining equipment and hold some crypto but no one holding cash is a bit extreme.

I think it'd be more accurate to say it's irresponsible to not be at least educated as to its utility. Then one can make the personal decision to "participate" or not.

[HHIslander]

Crypto has no functional purpose other than speculation. Invest accordingly.

[Atone]

Originally Posted by HHIslander

Crypto has no functional purpose other than speculation. Invest accordingly.

That’s just patently inaccurate

[JasoninDenver]

Originally Posted by HHIslander

Crypto has no functional purpose other than speculation. Invest accordingly.

You may want to delve deeper. This was my initial reaction. Now that I understand the practical applications of blockchain and some currencies, I am a believer.

[Chewbacca]

Originally Posted by brandrea

I won’t invest in things I don’t understand. I’m not being critical of those who do, but that’s a hard no for me.

Over my investing career, I’ve done very well with stocks that pay dividends (dividend growers).

Old money (best) virtues.

This is why TBone and I are top 0.00001% ers.

But I also have about $100000000 in BTC. So I’m hedged.

[Uggi]

Originally Posted by HHIslander

Crypto has no functional purpose other than speculation. Invest accordingly.

Err…..how much reading have you done on this subject?

[espanol]

Originally Posted by JSolution

My strategy is to go for projects with real world uses. Personally things like Dogecoin I wouldn’t invest in but ETH as you suggested is very promising for the future, although im interested to see how Solana will stand up as a competitor.

If you're looking for real-world application, check out AMP token. I've been following them for the last 6 months, and it's an exciting project. AMP is the collateral coin for the Flexa network, which is a payment rail for merchants to accept crypto (and $) as a form of payment. Flexa/AMP currently partner with a ton of national (US) merchants and word is spreading. Also great team at the helm of the project.

[envuks]

Originally Posted by joe100

Beyond the top ten cryptos currently, I think those involved in the NFT market have massive upside. Anyone who thinks otherwise is probably the same person saying “World Wide What??? That’ll never catch on!” In 1994. The VR and AR world is the next internet/smartphone-type revolution.

I have a friend who is “up” about $75k in NFTs. Veve seems to be the leading platform, which is backed by omi cryptocurrency.

Veve has first Disney, marvel, DC, and major league sports. Digital collectibles will either be huge or the next beanie baby….


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[oliver100690]

Originally Posted by JSolution

Crypto investors, thought I would start a thread to discuss cryptos in general, projects you believe in, new projects, how you split your investments, profit taking strategies etc etc just general crypto talk.

I will start off just by saying I believe this last quarter of the year is going to perform very strongly, BTC Has performed well recently and surpassed its ATH, which etherium has also just done. Obviously these are down slightly again now but holding well for the meantime.

Any fellow enthusiasts or investors, miners, speculators or anyone with any interest please feel free to add to the discussion.

Cryptocurrency is a good investment if you want to get direct exposure to the need for digital currency, while another safe but cost-effective way is to buy shares of companies exposed to cryptocurrency.

[pugloaf]

Originally Posted by HHIslander

Crypto has no functional purpose other than speculation. Invest accordingly.

Technology and payment networks are some of the most valuable and useful entities on the planet (FAANG, fintechs, etc). If you have a 1950's definition of functional purpose like "manufactures rotary phones", then sure. But this line of thinking has excluded you from buying one of the best investments in history.