Cryptocurrency, who has it?

[Old Geezer]

Bitcoin was $20K about 1 1/2 years ago and everyone was saying it was going to be $100K. That speculation didn't age too well. IMO, insiders are fleecing people overcome with greed.

[offrdmania]

I use the Gemini app to day trade Bitcoin and a few others. I just watch the trends and sell off when I think the drop looks like it will be substantial. I haven’t lost yet.

[77T]

Just sharing to help anyone who used Chrome extensions to access their wallet.

https://www.zdnet.com/article/exclus...&cid=717461620


Sent from my iPhone using Tapatalk Pro

[Etschell]

time to breathe new life into this thread. btc is at 13,600.

everyone should own a little btc. not a lot but a little. paypal and square getting in the mix.

digital dollar coming soon. the technology of crypto is just getting started. it wont die IMO.

gold is 10 trillion.
m2 is 100 trillion.
derivatives notional value is 1 quadrillion.

[Mifune]

I'm in... have been. I didnt think there was much tolerance in this forum, but that will change, as it's been changing over these last few months.

My personal Portfolio looks something like:
BTC
ETH
DOT
LINK
BAND
XRP

[Etschell]

Originally Posted by Mifune

I'm in... have been. I didnt think there was much tolerance in this forum, but that will change, as it's been changing over these last few months.

My personal Portfolio looks something like:
BTC
ETH
DOT
LINK
BAND
XRP

link is interesting smart contracts.

[GB-man]

I don’t understand if I buy it do I need to worry about it being stolen?

[Etschell]

Originally Posted by GB-man

I don’t understand if I buy it do I need to worry about it being stolen?

Not really. But if you are you can transfer to a cold wallet and throw it in a safe deposit box.

[superdog]

Having trouble with Coinbase.

Any other suggestions on how I can buy this?

[Etschell]

Originally Posted by superdog

Having trouble with Coinbase.

Any other suggestions on how I can buy this?

Should be back up now.
There is also binance.

[GB-man]

Originally Posted by Etschell

Not really. But if you are you can transfer to a cold wallet and throw it in a safe deposit box.

I take it I need to have some computer literacy to do that? I’m just a jackass with a MacBook

[bgolfo]

I have a very small amount of money in crypto just to see what happens. Used Coinbase and it was straightforward. Guess we will see what happens, but I’m not willing to bet my retirement on it

[kearez]

Coinbase the main platform to buy and hold BTC?

[Etschell]

Originally Posted by kearez

Coinbase the main platform to buy and hold BTC?

in the usa yes.

coinbase just came out with a new visa card that gives crypto rewards and is funded with your crypto balance. basically you can spend any crypto where they accept visa.

[Mifune]

I use mainly Coinbase, Coinbase Pro and Kraken (for DOT and ADA). you need to shop different exchanges to get those hard to acquire tokens/coins.

if you are going to keep your crypto online in coinbase, at least put it in the Vault and not in your wallet. A better suggestion is to get a physical ledger wallet and keep it at home or in a safe deposit box. If you dont have the physical 'keys' you really dont own the crypto, you only own a contract of value in that cyrpto... like a gold certificate as opposed to physical gold.

I am looking to add Energy Webb Token... but it's so difficult to get.

I try to spread my capital around to different 'classes' of cyrpto because I beleive more in a steady valuation and growth based on true utility as opposed to POTENTIAL insane gains and speculation. I do staking, but I WILL NOT do yield farming.

the main core will always be the top tier in market capitalization in the cyrpto... Bitcoin first and Ethereum second, add an Oracle (LINK or BAND) and you're fairly rounded out. that is the core group... though Polkadot is also part of that CORE because of it's founder and network design. it's a 3.0 level decentralized blockchain network with Sharding and "proof of stake' and it was created by one of the founders of Ethereum... Ethereum is still the biggest, but it is still running in 'proof of work' 1.0 level with Ethereum 2.0 'proof of stake' supposedly coming early 2021... but we'll see about that.

[Mifune]

Originally Posted by GB-man

I don’t understand if I buy it do I need to worry about it being stolen?

there is some possibility yes... keep your purchases frozen in a physical wallet (best because you are in possession of the 'keys') or in the vault on coinbase. there are also browser wallets that are fairly secure like Metamask and these also you instant access to move funds around, make purchases etc.

the biggest loss in crypto is not from hacking (though that can be an issue) it's from attempting to send your crypto to an address and that address is not correct. that results in a loss of those coins/tokens... though some networks/blockchains do allow for recovery.

also coinbase is insured against loss from a data breach up to a certain point... more than 100k I believe.

[Mifune]

Another thing... if you are holding onto large quantities of cash... stop it. Put it into Bitcoin.

[pickettt]

Originally Posted by Mifune

Another thing... if you are holding onto large quantities of cash... stop it. Put it into Bitcoin.

What do you anticipate central bank crypto will do to Bitcoin and others?

[GB-man]

Honestly even after some googling I don't believe I possess the cpu literacy to buy and store them properly.

[214270Explorer]

For ~40 years I have invested in low-risk Mutual Funds and precious metals. I have done WELL. So glad I hired a good investment advisor back then. He is still my advisor, and has never steered me wrong.

As far as I am concerned, crypto is a sketchy idea to begin with, and a risk of smoke and mirrors.

To each their own.

[Etschell]

Originally Posted by pickettt

What do you anticipate central bank crypto will do to Bitcoin and others?

Us is going to its own crypto. The digital dollar. Banks such as JPM.alreadying using their own crypto for internal transfers.

This is why I am not a big fan of alt coins. Btc and maybe eth. Link is fine but a bigger company can do smart contract crypto and crush link.

[pickettt]

Originally Posted by Etschell

Us is going to its own crypto. The digital dollar. Banks such as JPM.alreadying using their own crypto for internal transfers.

This is why I am not a big fan of alt coins. Btc and maybe eth. Link is fine but a bigger company can do smart contract crypto and crush link.

Yes, there's no question about that. However, will central banks allow the coexistence of other coins.

[Etschell]

Originally Posted by pickettt

Yes, there's no question about that. However, will central banks allow the coexistence of other coins.

i believe so.

[Mifune]

yes... A central bank cyprto currency can and in fact has to coexist. the ENTIRE premise of a blockchain network is that it is DECENTRALIZED... the ENTIRE premise of a centralized banking system, crypto or not, is centralized control. they are diametrically opposed. China launched it's centralized system this year... supposedly back by physical gold and there is talk about them NOT ALLOWING use of any other blockchain coins/tokens within their boarders, but that really isn't controllable if they plan on doing business with the rest of the world. it's more about internal payment system control within their own boarders for their own population.


before you begin investing, you need to really understand what the coin or token you are buying is actually doing.
some coins/tokens are blockchains... some allow functions built of others blockchains... some are rewards for doing work on blockchains... some need to be purchased so they can be staked in order to earn rewards on blockchains.

of my personal list above... this is what they accomplish from a utility stand point:

BTC-store of wealth, the ORIGINAL blockchain network.
ETH-largest decentralized block chain, level 1 proof of work
DOT-most advanced decentralized block chain, level 3 proof of stake
LINK-an ORACLE... meaning it allows data from the physical world to be inputed and used on a blockchain network... it's the largest oracle to date. it is built on the ETHEREUM network.
BAND-also an ORACLE... but one that allows cross chain communication between different blockchain protocols.
XRP-a payment/liquidity system

there are MANY MANY more worthwhile projects by very brilliant mathematicians and cryptologists... but I can't invest in all of them and all of them more than likely won't fulfill there promises because they wont be widely adopted.

[Mifune]

Originally Posted by GB-man

Honestly even after some googling I don't believe I possess the cpu literacy to buy and store them properly.

if you are slightly confused and need some "REAL" help... this is the place for you.

iTrust Capital

a true IRA/401k for the crypto and precious metal world. They are very well known and reliable. easier to use for folks that want to get in on it, but not have to monitor and trade on a daily basis.

[GB-man]

Originally Posted by Mifune

if you are slightly confused and need some "REAL" help... this is the place for you.

iTrust Capital

a true IRA/401k for the crypto and precious metal world. They are very well known and reliable. easier to use for folks that want to get in on it, but not have to monitor and trade on a daily basis.

Thanks I’ll take a look

[pickettt]

Originally Posted by Mifune

China launched it's centralized system this year... supposedly back by physical gold and there is talk about them NOT ALLOWING use of any other blockchain coins/tokens within their boarders, but that really isn't controllable if they plan on doing business with the rest of the world. it's more about internal payment system control within their own boarders for their own population.

Isn't this predicated on the assumption that China's bank belongs to China, and not part of a larger network?

[sgwatchguy]

Originally Posted by Mifune

China launched it's centralized system this year... supposedly back by physical gold

Source?

[Mifune]

Originally Posted by pickettt

Isn't this predicated on the assumption that China's bank belongs to China, and not part of a larger network?

it's part of the world monetary system, but certainly China is trying to position itself as a challenger to the US dollar dominance.

Their 'control' internally of cryptocurrency is manifesting itself in the form of cracking down on exchanges within the boarders of hong kong and mainland... but certainly can not control peer to peer transfers/dex's. They considering ruling exchanges as Money laundering enterprises.

the gold backing of the e-Yuan is still not confirmed, but been touted as the goal... BTC is also a factor here as far as backing is concerned because China is the largest miner of bitcoin in the world currently because of the governments backing for 'cheap' energy. this may change soon though as challengers are coming forward in the US.

[Etschell]

$14,250 break. now 15k. needs a breather but little resistance exists between here and 20k.