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Post by rmcalhoun on May 10, 2021 20:07:38 GMT -6
Anybody Else Gambling with these?
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Post by Lurkin McGurkin on May 11, 2021 6:19:07 GMT -6
Yep.
50% return in 2 months. And that's not that great, relatively speaking. Fees make it a little difficult to trade often.
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Post by JacksonStreetElite on May 11, 2021 6:52:10 GMT -6
What coins are you getting into?
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Post by Lurkin McGurkin on May 11, 2021 7:23:57 GMT -6
Mostly Litecoin or Ethereum.
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Post by rmcalhoun on May 11, 2021 14:45:44 GMT -6
Yep. 50% return in 2 months. And that's not that great, relatively speaking. Fees make it a little difficult to trade often. yep fees are a pain.. Ive been messing with shitcoins fraction of a penny stuff. Buying 25-100 dollars worth. Hit one over the weekend turned 100 into a thousand over night. Withdrew 500 left 500 in thats now at 1250. The other 4-5 have not really moved up or down yet |
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Post by rmcalhoun on May 11, 2021 14:46:25 GMT -6
What I'm doing is more like horseracing than investing
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Post by Lurkin McGurkin on May 19, 2021 7:29:54 GMT -6
This morning's crash is a pretty wild ride.
Apparently China came out Tuesday morning and said that use of crypto for transactions in China is illegal, so they all took a huge hit.
Already coming back, though.
Coinbase.com is having issues with the volume of people either jumping out of the market, or jumping in...
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Post by JacksonStreetElite on May 19, 2021 8:57:49 GMT -6
Everything is on sale.
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Post by bsutony on May 19, 2021 9:06:18 GMT -6
Bought a lot this morning.
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Post by sweep on May 19, 2021 13:09:46 GMT -6
Someone is going to eventually be the bagholder, don't let it be you.
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Post by JacksonStreetElite on May 20, 2021 7:07:13 GMT -6
Someone is going to eventually be the bagholder, don't let it be you. A lot of people are saying that about the dollar right now too though. |
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Post by 00hmh on May 20, 2021 12:46:06 GMT -6
Someone is going to eventually be the bagholder, don't let it be you. A lot of people are saying that about the dollar right now too though. Different completely though. Government back fiat currencies are currencies, Bitcoin and alts are mostly now speculative investment vehicles. The dollar may weaken just as it has on occasion, but that would probably be transfer to another fiat currency from a big trading government. The dollar very unlikely to be as volatile, we are a huge market. |
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Post by villagepub on May 21, 2021 8:07:37 GMT -6
China renounced the use of cryptocurrencies, plus the US is pushing for mandatory reporting to IRS all transfers of $10,000 or more.
This threw the crypto market into a spin this week.
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Post by sweep on May 21, 2021 8:42:33 GMT -6
China renounced the use of cryptocurrencies, plus the US is pushing for mandatory reporting to IRS all transfers of $10,000 or more. This threw the crypto market into a spin this week. There is nothing backing cryptocurrency except the hopeful thoughts of it's "investors". This stuff is going to get annihilated, it's just a matter of when. |
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Post by 00hmh on May 21, 2021 11:12:31 GMT -6
China renounced the use of cryptocurrencies, plus the US is pushing for mandatory reporting to IRS all transfers of $10,000 or more. This threw the crypto market into a spin this week. There is nothing backing cryptocurrency except the hopeful thoughts of it's "investors". This stuff is going to get annihilated, it's just a matter of when. That point about real value is a good one.
The long term only hope for this "currency" is that it has some practical superiority for exchange. Right now it promises anonymity and untraceability appealing to criminals and libertarians for different reasons. It has potential to be faster than other electronic exchanges and avoid government and the banking system, but then that's also a problem.
IRS and other agencies trying to find ways to regulate it makes it is hard to imagine it can exist independently and would immediately reduce it's utility in exchange for under the radar transactions.
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