Bitcoin pushing $70k...

[Ken07AOVette]

Originally Posted by Roderek

I am certainly not heavily invested in it, but I do invest a little every month. I still invest in probably what you consider normal investments.

Anything I have in Crypto I can afford to lose.

Seriously do some research. Personally I am not sure Bitcoin survives as it has no functionality other then digital currency. That said it will be around for a while yet, and probably a decade or so before it gets flipped. Their are lots of scams in Crypto for sure, they are called meme coins/**** coins.

I guess we can have a difference in opinion and will have to wait and see in a decade who is right as time is the only way we will figure it out.

Crypto is creating solutions to existing problems.

good reply!

Other than the last line I agree with you, it seems it is making it easier for the best hackers to become rich, and for people to throw money away to skeezy investment firms, they do not even have to get out of bed. The hacker, invester, skeezy guy can do it all in their skivies while watching tv in bed.

I am not sure what solutions to existing problems crypto will ever solve. When the system goes down, and it will at times, without money in your jeans there will be no way to pay for anything if we go completely digital.

Governments know this, which is why we have paper and coins. They spend everywhere.

Crypto can be frozen or seized at will, as can bank accounts of course, but they have to go digging to find where we keep the rest of our cash.

[fishtank]

Originally Posted by elkslayer132

Thanks for the heads up made over 300 bucks already if it goes all the way back up I will make a good chunk of coin.

Day trade it don’t hold over night …. Unless you stay up all night. As it on the moves 24 hr non stop , last night it’s was $19 this morning under $1 .

It’s a tsunami and the founders CAN NOT handle and navigate this , it’s way over their heads . Tens Billion$ are wipe out in matter of days and will trigger a domino effect .

[troutbug]

Originally Posted by Ken07AOVette

good reply!

Other than the last line I agree with you, it seems it is making it easier for the best hackers to become rich, and for people to throw money away to skeezy investment firms, they do not even have to get out of bed. The hacker, invester, skeezy guy can do it all in their skivies while watching tv in bed.

I am not sure what solutions to existing problems crypto will ever solve. When the system goes down, and it will at times, without money in your jeans there will be no way to pay for anything if we go completely digital.

Governments know this, which is why we have paper and coins. They spend everywhere.

Crypto can be frozen or seized at will, as can bank accounts of course, but they have to go digging to find where we keep the rest of our cash.

They cannot steal or freeze it if its stored in a cold wallet. All my crypto is not accessible unless you have my thumb drive that requires a code and 24 phrase password and download it to the computer. It is how I have always kept it. When I sell I transfer it out, sell, exchange to CAD funds and right into my account. Iv made thousands doing this.

[-JR-]

Wow I hate to receive 5 Notes at $70,000. each for my house ,then the next following month it drops to $10,000. a note .

[Roderek]

Originally Posted by troutbug

They cannot steal or freeze it if its stored in a cold wallet. All my crypto is not accessible unless you have my thumb drive that requires a code and 24 phrase password and download it to the computer. It is how I have always kept it. When I sell I transfer it out, sell, exchange to CAD funds and right into my account. Iv made thousands doing this.

Exactly this, it is possible but incredibly harder for the government to take your crypto. Your actual money they just have the bank freeze the account its one phone call.

If you are really worried moonbags are where its at. Do your research pick a solid project once you have made some money take out your initial investment and some profit. Keep a small bag that is house money and ride it till it moons or busts.

For example a moon bag on Luna you put 1k in March 2020@ 20cents that's 5000 coins, you sell 2000 when it hits a dollar you you doubled your initial investment (January 2021 it hit 1.00) you still have 3000 coins that you could have sold anywhere between March 2021 for $20(60k) all the way up to to $144(432K) April 2022. Even dumping it today you would still be making profit.

Luna may not recover from this current situation but I cashed some out a few months back and have a moonbag, I will likely put a little more money in it now at the discount if they are able to recover after this I will just make more money. I am only putting in money I am willing to lose anyhow. I will have still made more money from Luna then I lose, even if I lose what else I put in.


Luna may not be the best example as they are in trouble currently, But really had you bought in anytime in 2020 up until November 2021 you had a chance to make a lot of money, the earlier you got in the more you would have made. and realistically as long as you didn't buy at the ATH you would have been able to make money up until about last week.

[muirsy]

I was skeptic and super un-informed for a long time (and still don't understand absolutely everything yet) - but I educated myself and decided to put some money into crypto - just like any other asset. As the utility increases more and more, I'll likely put more in.

I find it ironic that people who in favour of 'less government' (myself included) are concerned with the government being able to seize crypto haha - the whole point of crypto is that it's harder for anyone to access it as described in an earlier post.

[HVA7mm]

I guess right now as an investment, I kind of understand getting into crypto due to its' perceived "rarity", not unlike NFT's, fine art, wine/whiskey, cars, rifles (ex wives lol). However most collectors still like their collectibles to actually be tangible. Comments on the security of crypto can become a moot point should you lose your thumb drive or other back-ups, not to mention no access to a computer/internet in the event of a catastrophic power/communications failure. I do however admire the cajones (or disposable income) that it takes to play in this pool.

What I can't really wrap my head around is not knowing when/where/by whom, a global crypto standard will be decided on. With nearly 1600 types of crypto currencies, how can a vendor/retailer/wholesaler/individual even begin to decide which currencies they will accept in exchange for their goods, and what standard will that currency be based on. With the wild and constant fluctuations in perceived value, it's asinine to think that any retailers in their right mind would consider accepting any crypto let alone all crypto variations in the near future.

If it's not the near future, then how far out are we talking here until we have a global crypto standard? The gold standard lasted for about 100 years, before that it was silver and bi-metals and plain old trading of goods and services, and for the last 50 years or so fiat currencies backed by governments.

My time on this planet is finite, and although I know some people that have done quite well in the crypto game, there are currently way too many variables and unanswerable questions for me to consider betting the farm on crypto of any kind.

[newguy]

We have some crypto, both bitcoin and etherium. We made the decision not to invest anything that will keep us up at night if we loose. On one of many trading bots out there we have quadrupled our investment while taking out our initial investment. All profits go back into buying bitcoin. I’m not talking a lot of money but we have to start somewhere. It’s been a huge success.

I know the grand total of zero about crypto. But the guy who helps me is super knowledgeable and tells me to tread lightly and don’t “gamble” more than your willing to loose.

[muirsy]

Originally Posted by newguy

We have some crypto, both bitcoin and etherium. We made the decision not to invest anything that will keep us up at night if we loose. On one of many trading bots out there we have quadrupled our investment while taking out our initial investment. All profits go back into buying bitcoin. I’m not talking a lot of money but we have to start somewhere. It’s been a huge success.

I know the grand total of zero about crypto. But the guy who helps me is super knowledgeable and tells me to tread lightly and don’t “gamble” more than your willing to loose.

I’m very much in the same boat as you.

90% + of my portfolio is NOT in crypto, but my investment advisor/guy who I trust to look after my money has us in a few of the more legit coins. If in 10-15 years it nets me and extra $50k I’ll be happy, in the meantime I’ve just forgotten about it. Maybe by then I can pay straight up for a new Tesla pickup using some crypto lol

[Grizzly Adams1]

Originally Posted by RandyBoBandy

Trust me...I've been involved in many many "jack in the beanstalk" scenarios !! In search of "easy" munnie !! I very tempted on the bitcoin thing now !!

I'd say, Your'e late to the game.

Grizz

[densa44]

This looks a lot like a scam to me. I hope not but it has all the ear marks.

[Map Maker]

Originally Posted by Grizzly Adams1

I'd say, Your'e late to the game.

Grizz

Not sure I agree with that.
It’s at the same price now before it took off in 2021
No one knew how to buy it then, now you can buy it at ATMs

I’m thinking about buying a bit. I guess every type has its pros and cons.
Will have to research a bit

[britman101]

Very timely article on the subject.

https://www.cbc.ca/news/business/crp...ttis-1.6450411

Unfortunately, in my opinion, there is no such thing as a get rich quick scheme that ever really pans out. For those that made some money, consider yourself lucky. You cashed out at the right time.

[mooseknuckle]

Crypto world is out of control, a couple years ago I got talked into buying a coin FEG. $2000 went to $440,000 in 10 weeks, I jumped ship taking most of it out. Left $40,000 in and played around with a few other coins. My wallet this morning says $387. Loo. Ouch. Again, playing with house money. But yikes... stuff is volatile to say the least.

[Map Maker]

^^^amazing
1/2 millionaire overnight.

They even wrote about your experience here.


https://www.vanityfair.com/news/2021...-of-****-coins
Search “ Inside the Rise and Fall (and Rise and Fall) of **** Coins” if link doesn’t work due to swear word.

“ One crypto trader I spoke to told me they invested “a couple of grand” that was pumped up, and a week later the investor sold at a $500,000 profit. FEG, of course, is only one of countless coins this has happened to as of late. ”

[Ken07AOVette]

$200,000,000,000.00 loss today.

$200 BILLION DOLLARS GONE

bitcoin down ~$13,000 in a month

And Matt Damon is on the hottest.

Also Musk is waffling, Twitter shares dropped 18% today.

[Ken07AOVette]

$1 Trillion Crypto Meltdown—Huge Crash Wipes Out The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Solana, Terra’s Luna And Avalanche

https://www.forbes.com/sites/billyba...h=69d7450845fd

its awful quiet in this thread today

[Ken07AOVette]

Originally Posted by Ken07AOVette

$200,000,000,000.00 loss today.

$200 BILLION DOLLARS GONE

bitcoin down ~$13,000 in a month

And Matt Damon is on the HOT LIST

Also Musk is waffling, Twitter shares dropped 18% today.

had to fix the autocorrect stupidity hence quoting myself

[Buckhead]

Originally Posted by Ken07AOVette

$1 Trillion Crypto Meltdown—Huge Crash Wipes Out The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Solana, Terra’s Luna And Avalanche

https://www.forbes.com/sites/billyba...h=69d7450845fd

its awful quiet in this thread today

Gold price is still around $1,800 vs $1,200 five years ago.

[troutbug]

Originally Posted by Ken07AOVette

$1 Trillion Crypto Meltdown—Huge Crash Wipes Out The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Solana, Terra’s Luna And Avalanche

https://www.forbes.com/sites/billyba...h=69d7450845fd

its awful quiet in this thread today

Smart people are buying, im already up this week. I have yet to lose money on crypto but I follow it very closely. Certain projects I have money in or have been waiting for a huge dip, im buying them up as they are not projects that will be pulled.

The Luna fallout is its own issue, lots going on behind the scenes of that token.

Everything is buggered right now. Stocks, crypto etc. But like any other time it will climb back up

[Ken07AOVette]

Originally Posted by Buckhead

Gold price is still around $1,800 vs $1,200 five years ago.

Gold has dropped ~$150 in 30 days but yes, is definately more stable.

A trillion gone today, wonder if in the next days if that will double or quadruple or be the end of the drop for a while?

[fishnguy]

Originally Posted by Buckhead

Gold price is still around $1,800 vs $1,200 five years ago.

If a guy bought in 5 years ago and still hodling, he is doing very well, lol.



Wish I was that guy, lol.

[marky_mark]

If you bought 5 years ago and didn’t sell when it hit 70k your nuts lol
I’d be painting seashells on a beach in mexico

[pikeman06]

Originally Posted by marky_mark

If you bought 5 years ago and didn’t sell when it hit 70k your nuts lol
I’d be painting seashells on a beach in mexico

Yes indeed. Double your money and call er good. Maybe some of these crypto guys never heard of BRE-EX.

[Buckhead]

Originally Posted by fishnguy

If a guy bought in 5 years ago and still hodling, he is doing very well, lol.


Wish I was that guy, lol.

If a guy bought Crypto 5 years ago and is still HODLing, I would say that person has an extremely limited knowledge of how investing works.

When your lottery ticket hits - you cash it in - you don't HODL it.

[Austin]

Terra Luna,,, supposedly a stable coin?

[Ken07AOVette]

Originally Posted by Austin

Terra Luna,,, supposedly a stable coin?

Up 600% while bitcoin is still falling.

Depends which edge of the pyramid you are standing on I guess.

Bitcoin isn't showing as big a fall in reality because 'smart investors' are propping it up investing more while the price is low. Seems like shoveling water to me.

I will stick with what I know

[Jayhad]

I look back at my Luna sell at $142 cdn and know it was the best financial decision i've ever made, damn dodged that bullet.

[thenaturalwoodsman]

Originally Posted by Jayhad

I look back at my Luna sell at $142 cdn and know it was the best financial decision i've ever made, damn dodged that bullet.

Good Job!! Congrats!!

[Ken07AOVette]

Originally Posted by thenaturalwoodsman

Good Job!! Congrats!!

+1! Nice to hear to hear success story