Crypto, your opinion requested.

[Muddyboot]

Soo what do you think, scam, the future of finance, somewhere in the middle? I have a small
amount invested but wonder where this will all go.

Let's not get heated on this one, to many threads have gone off the rails lately. No need
to knife your fellow Forum members, an opinion is just that.

 

[ladder13]

It seems to have been accepted with govt and financial institutions jumping on board. I think it’s a bit of a mystery to most but having the backing of govt and banks has given it legitimacy. Oh wait, govt and banks?
I thought reading back some time ago no more Bitcoin would be “mined”.
Having said that, I had $85 sitting in a Venmo account that very few vendors that I might deal with accept, so I bought $85 worth back in Feb. It’s now worth $89.26. I’m rich.

 

[Denverd0n]

It's not a scam. It might be the future of finance, but right now it is WAAAY too volatile for that. Some government will have to figure out a way to stabilize it, before it is going to become a reliable way of doing business. In the meantime, it is just a risky play for people willing to take a flyer on it.

 

[AlHunt]

In my very short, limited experience with Bitcoin, every time I wanted to spend any of it, the transaction fees could be half or more the value of the transaction itself. I used it once and there was $20 or so worth (at the time) left in a now lost wallet.

 

[Muddyboot]

It's not a scam. It might be the future of finance, but right now it is WAAAY too volatile for that. Some government will have to figure out a way to stabilize it, before it is going to become a reliable way of doing business. In the meantime, it is just a risky play for people willing to take a flyer on it.

No doubt the risk is high, that's why I'm reluctant to jump in heavy. However, he who hesitates.
Will the early buyers reap the rewards or crash and burn.?

 

[ACORN]

I don’t understand it, and don’t want to try to understand it.
A man’s got to know his limitations.
Bitcoin etc. is one of mine.
I’m out!

 

[arjay]

It’s tempting,but I have a gift for buying high

 

[DWalt]

If anything, I will be a late adopter for personal use. I might be tempted to invest in those companies who will benefit from cybercurrency, e.g., hardware, software, miners, data infrastructure, etc. I made a minor purchase of shares in a blockchain ETF several years ago, wish I hadn’t, still in the red but not enough to lose sleep over.

 

[65-2x2]

I don't want anything to do with any money that I can't stuff into a mattress.

 

[22hipower]

I'm with Buffett and Munger on this one, rat poison X 3 until proven otherwise so not an investment for me. There is a lot of volatility with bitcoin though so I suppose one could trade the high/low ranges.

 

[Kinman]

I've tried to write something and erased it twice...Its really hard to not sound like an old guy when your an old guy. Hindsight is 20/20 is about all I got to say...We may end up with something the likes of which we can't wrap our heads around today but for right now Crypto is just far too volatile and sketchy as hell.

 

[Truckman]

Soo what do you think, scam, the future of finance, somewhere in the middle?

Shell game......Ben

 

[Muddyboot]

I've tried to write something and erased it twice...Its really hard to not sound like an old guy when your an old guy. Hindsight is 20/20 is about all I got to say...We may end up with something the likes of which we can't wrap our heads around today but for right now Crypto is just far too volatile and sketchy as hell.

I'm not young (64), but it doesn't seem to be going away. Soo a modest investment on my part is the plan. I can't spend all my
extra cash on Burbon.

 

[Dump1567]

I've been all in for the past 6 months. Blockchain is the future and we're at the early adoption phase (along with AI). Most of my holdings are in Bitcoin and IBIT ETF's for long term. Bitcoin is no longer really a currency but a store of value (digital gold). And with a limit of only 21 million coins to ever be mined (actually less due to loss of access and Satoshi's 1 million in cold storage), it will only go up. I'm of the 1 million a coin within 10 years group (currently at $106,000).

It's getting mainstream adoption with Tradfi, Nations, States, and retirement funds. Everyday a company is adding BTC to their balance sheet. Even Blackrock is recommending 2-5% portfolio allocation. I love when I hear the OG's of Bitcoin talk about the BTC they sold for other projects. And than state they should have just held their BTC as it would have been worth more.

They basically want to put everything on the blockchain. And that will probably be ran through Solana and Eth. Again, we're still in the early phase.

I do dabble in some Alt coins hoping for a good 3-10X by the end of the year. This is my short-term investments. But BTC is the safer bet. Especially for long term.

I'm not here to change anyone's mind, but people that bought in at a $1, $30, $500, etc, 10-15 years ago, are millionaires today. If you bought in April at around $75K, you're up 30% in 2 months. Thats some good rat poison.

 

[Bajadoc]

I only invest in things I understand..........

 

[pharmer]

I'm with Buffett and Munger on this one, rat poison X 3 until proven otherwise so not an investment for me. There is a lot of volatility with bitcoin though so I suppose one could trade the high/low ranges.

To quote Warren Buffet on CNBC maybe 10 years ago: "Well it is interesting, but as I understand money, Bitcoin's value at some point will approach $zero." Might be some paraphrasing but that was the crux of his statement. Joe

 

[Greyman50]

My son has a lot, he’s going to retire soon and cash it in and move to Fl. close to me. I don’t need or want to get “ involved” at my age.

 

[wood714]

Guy on the Harley Forum bought some when they first came out. A few years ago he sold half of them for a little over 30 million.

I'd have liked to bought some when they were less than a dime each, but knowing me when they hit $100 I'd have sold them.

Just checked and their at $107,056.70 each right now.

 

[GypsmJim]

Bitcoin maybe a gamble, or it may be the way to a fantastic future.

OTOH, real estate has been and will continue to be profitable.

Bitcoin may stay, or it may come and go. But, part of the earth will stand the test of time, because they ain't making any more of it.

 

[ladder13]

Why so many different “coins”?
What is the standard for value of each?
Where is this coin “mine”?

I see the govt and mephistopheles liking it.