Crypto, your opinion requested.

I remember when reading/hearing about Bitcoin "accounts" being "lost", due to the investors having forgotten their account passwords

I took a quick look and it seems that there is (possibly) $100 Billion of Bitcoin "lost", due to accounts being unable to be accessed (and likely NEVER to be accessed again)

www.bankrate.com

Are Your Lost Bitcoins Gone Forever? Here’s How You Might Be Able To Recover Them | Bankrate

While Bitcoin spent the last decade soaring and making millionaires out of many people, other owners of the world’s largest cryptocurrency have missed out. Why? One major reason: they’ve lost access to their account.
www.bankrate.com

www.complex.com

Bitcoin Investors Locked Out of Millions After Forgetting...

Investors in Bitcoin who are looking to cash in on their ...
www.complex.com www.complex.com





If this is how you wish to investor your money, may God be with you
 
The pro crypto folks say that they are not subject to inflation. yes they are in a couple (at least) ways:

The last I checked, there are over 10,000 different crypto currencies. More are constantly being created. Most are worthless and are likely to remain so. But the world is still flooded with them.

I'll use bitcoin as another example. Supposedly it is immune to inflation because the algorithm means there is a fixed maximum number of bitcoins that can ever exist. But a few years back they 'forked' it - created a new 'Bitcoin cash' token and gave owners of bitcoin an equal number of bitcoin cash tokens.

If you are going to gamble in crypto currency, if you let an exchange hold it, you don't actually 'own' it, the exchange does. You only own it if you hold the key to your wallet.
 
65-2x2 said:
It is as safe an investment as putting your money in lottery tickets.
Click to expand...
I don't think it's a lottery ticket level investment. So far, my investment is on the
positive side of the ledger. My gut tells me this is not going away as I see finical
institutions and countries coming around to crypto.

The future is uncertain, but sometimes in life jumping early does pay off. Again
do your research as you would any investment.
 
"Mining is the process that Bitcoin and several other cryptocurrencies use to generate new coins and verify new transactions. It involves vast, decentralized networks of computers around the world that verify and secure blockchains – the virtual ledgers that document cryptocurrency transactions. In return for contributing their processing power, computers on the network are rewarded with new coins. It's a virtuous circle: the miners maintain and secure the blockchain, the blockchain awards the coins, the coins provide an incentive for the miners to maintain the blockchain."

Translation=Ponzi scheme................
 
It seems to be gaining legitimacy. If everybody believes it has value, then it does, just like the U.S. Dollar. The big fly in the ointment is that they expect that in a few years advancements in Quantum Computing may be able to "break" the Blockchain. But the technology is not there yet. The Crypto Bros are developing Quantum-resistant algorithms. How that works out nobody knows.

Keeping a small amount (max 5%) in crypto as an allocation to non-correlated asset may make sense. At times it correlates with things but its correlation can change. You could just buy the stock of crytpo-related companies. Crypto is very volatile. It doesn't make sense for me but if I was younger it might.
 
glenwolde said:
It seems to be gaining legitimacy. If everybody believes it has value, then it does, just like the U.S. Dollar. The big fly in the ointment is that they expect that in a few years advancements in Quantum Computing may be able to "break" the Blockchain. But the technology is not there yet. The Crypto Bros are developing Quantum-resistant algorithms. How that works out nobody knows.

Keeping a small amount (max 5%) in crypto as an allocation to non-correlated asset may make sense. At times it correlates with things but its correlation can change. You could just buy the stock of crytpo-related companies. Crypto is very volatile. It doesn't make sense for me but if I was younger it might.
Click to expand...

I'm in a hundred percent agreement with the bolded above! :cool:
 
Just like gold and silver it's a hedge against the falling dollar. Institutional buying has convinced me that bitcoin has value. The rest are very speculative for now
 
arjay said:
Just like gold and silver it's a hedge against the falling dollar. Institutional buying has convinced me that bitcoin has value. The rest are very speculative for now
Click to expand...

...and just like precious metals you have custody issues. With crypto how do you hold it? Directly through self-custody? Through an intermediary? Most won't do the work to hold it direct. Plus you have a risk of losing the key. There's no password reset on that! They estimate that 20% of Bitcoin is lost forever due to lost keys. Witness the guy that wanted to pay to have an entire landfill dug up to find his key.

Through an intermediary? There certainly have been problems with them. Then there's Treasury Companies or funds. The ETF's are probably the easiest and safest, though I'd pick a spot ETF rather than a futures ETF.

You have similiar problems with precious metals, Holding the physical subjects you to very wide spreads at retail. For a small amount it's fine but holding a six-figure sum in physical metal in your closet? No. There's mining companies but they don't always correlate well. ETFs that hold the physical in a vault are the simplest.

Even though I don't entirely trust ETFs either due to the third-party risk they entail. But in these cases they are probably the best choices.
 
ETFs, quantum resistant algorithms, quantum computing, "blockchains"... Anyone have any idea as to what all that is? What about a simpleton opening a wealth management account where you have knowledgeable folks making a few dollars for you without you having to worry about unintelligible lingo?

It seems some believe dollars aren't real these days. Maybe so, but I've found they spend well and easily. I think others have also discovered this.
 
Dump1567 said:
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.
Click to expand...

Well let's see where we're at. Above was my post on June 27th and here's the prices.

Eth:
June 27th - $2423
Today - $4631

Solana:
June 27th - $142
Today - $238

Bitcoin:
June 27th - $106K
Today - $115K

So, yes there's money to be made in crypto.

But to be fair, let's look at some of my Tradfi holdings.

Nvidva
June 27th - $157
Today - $177

Tesla
June 27th - $243
Today - $396

Opendoor
June 27th - $2.43
Today - $9.05

Invest in whatever you want, but don't overlook crypto.
 
Legendarylawman said:
I have pensions, no investments. So, what do I know. However, many years ago, I had 12 thousand in a local stock market investment firm. Decided to buy a couple jetskis for the family. Called and got a check the next day for 12K. Not sure you can do that with Bitcoin. ???
Click to expand...
Yes, I like that convenience, too, but maybe that's possible with the "coin" stuff as well. I have no idea...
 
BlackRock has an etf based on bitcoin called ibit. You buy and sell it like any other stock .They hold $72 billion worth of bitcoin
 
Last edited:
You must log in or register to reply here.

Similar threads

chief38
Loctite and guns - do they mix? This subject keeps coming up - hence another thread for those who wonder.
2 3
Replies
74
Views
4K
JMD999
J
F
Young Brothers Massacre, A tactical expert opinion.
Replies
21
Views
3K
tbob38
T
S
I'd like your thoughts regarding the new SIG 210
Replies
16
Views
1K
nyeti
N
Echo40
What was the inspiration for your Username?
6 7 8
Replies
226
Views
7K
bamashooter
bamashooter
S
It's all just stuff...
2 3
Replies
70
Views
3K
flash60601
F

Latest posts

Back
Top