Anybody buying Crypto?

Does such a thing still exist?

If I had a time machine, maybe I'd go back a decade and invest in Bitcoin (after killing baby Hitler.)

I'm not a gambler, so I won't be investing in Crypto today.

yes such a thing does exist—you can easily find them at coin shops, jewelry stores and pawn shops to get started. If you have a big wad of paper that you want to convert to real money, then there are speciality gold investment companies that deal in coins and bullion.

crypto is differently fiat

It absolutely does exist. The dollar not having a ballast is a tremendous anomaly, and it is going to crash hard if I’m reading the current geopolitics right.

Up until the greatest and most honest president of all time Nixon, the US money was backed by a gold standard of $35 per ounce.

Before 1933, gold and gold coins were used as currency. In 1933 FDR confiscated all personally held gold and made it illegal to own or hold. Then in 1971 Nixon took the US off of a gold-backed currency.

He also gave us the 55 mph speed limit on interstates.
And made cannibus a Class 1 right drug up there with heroin and higher than cocaine.
Instituted a wage and price freeze (free-market capitalistism?)
He was not a crook, he even said so.

ref: FDR Takes United States Off Gold Standard

As far as I can tell, fiat currencies are the norm, and hard/representative/commodity-backed money is quite rare.

good luck
the value of crypto is totally unstable, you are basically gambling
hoping the price you got in at, ends up being better than the future price

pure speculation, totally at risk

a ponzi scheme

The stock and crypto scene is an ocean with a few whales to set examples for the sardines. Except there are many sharks looking to eat sardines by the metric ton. It’s how the Brazilian stock market Bovespa is still standing, lots of greedy small timers looking to make bank being gypped by “influencers” posing as high rollers that teach future high rollers.

When the sharks have gotten all their money out of the market, they will will burst the bubble and we’ll see men rain. And when the market is crashed, the sharks will swoop in and buy back all their stocks for pennies, then artificially inflate the market to attract a new generation of sardines. 1929 was already an example of the cycle.

Don’t forget that in speculative market, for you to make money someone has to lose that money.

For that to be true, the entire economy would have to be a zero-sum game, and that doesn’t appear to be the case.

Why does this smell like the typical Youtube spambot for international scammers?

Because it is :disguised_face:

You don’t have to be a genius to see what’s happening. What has been the best performing asset in the last decade? Bitcoins price increase over the past decade is due fundamentally to it’s digital scarcity and decentralized security.

The dollar is getting inflated away at a much more rapid rate since Rona, exchanging a weak currency like the dollar for an asset like Bitcoin which can never be inflated is a wise decision in the long run. Forget about what the media and the public say month to month since it’s all just noise and fud.

But I digress, we’re all free to arrive at our own conclusions and decisions ultimately! My future self in years to come will thank me for taking the time to research and invest in the fastest growing digital network in history :wink:

This morning we had some hard fast pullback so I picked a good chunk more ADA, and a little more AMP, VGX and a few other alt coins. I would have bough ETH back when price was down in July, but I was out of cash.

I don’t use asic miners, but I did order several HNT miners back in May.

Nice, I was fortunate to come into the space in January and buy a stack of ada because someone on twitter said I should xD That plus SOL are my only completely blind bets and they paid off lol.

For anyone new to crypto reading this thread the worst thing to do is buy something based off twitter. In saying that crypto is here for the long term and it’s prudent to DYOR and discover why it is such a transformative technology. If nothing else if your investment time horizon is 4 years or more than you’ll soon discover that Bitcoin is a complete no-brainer.

Unless they find a solution to the power problem, I really can’t see crypto ever becoming a viable mainstream monetary mechanism. Right now, the bulk of its presence is speculation. Early adopters who chose the right ones have made such a killing, and bragged so much about it, that millions are flocking to try their hand at this new form of online gambling casino.

I hate large scale gambling. A game of cards among friends where some people win a few bucks? That’s cool. A casino that fosters gambling? No. It’s an orchestration to rip off people. Only some are smart enough to know how to play it out, and even make a good living from it. Most people just throw their money away. It’s a black hole in the landscape of human ethics. And cryptocurrency… is really acting as just that right now.

I get the idea of currency not being tied to a nation or government. It’s a good idea. And gold value has enjoyed that. The global market demand dictated the value… but its limitations made for serious scalability problems as a currency, or to back a currency. We all had to get off the gold standard. But frankly, crypto is way too early. The only thing keeping it going right now is a consensus of greed. These experimental currencies are probably going to help provide sufficient exploration to make for a viable electronic currency in the future that could go mainstream. But that’s a long way out, IMHO. I simply don’t like the high volatility of cryptocurrency. Some people bought early, cashed out some and made a killing… and that success fuels more attention and “I want some of that profit too!” I know there was always currency speculation. Like projections on the value of the Euro vs. US Dollar, and then people traded on that to make money. But cryptocurrency is mostly just that, instead of it being used as a viable mainstream currency. And then that power problem… the expense of “mining” crypto. It’s just not a sustainable model unless some new innovation comes out to fix that.

I’ve double my money this year day trading crypto, but I don’t have a lot in there.

I don’t want to have large holdings because when there is an economic collapse the government will ban alternatives to fiat currency, as they have in the past with gold.

For some reason, completely incomprehensible to me, I hear many crypto advocates say that “they can’t!”.

El Salvador is right there too.

Hmmm… :expressionless: