The Frustration of Ideology: Investing in Cryptocurrency

a reply to: Mandroid7

The US dollar (that is backed by nothing) is a pyramid scheme. And for so many reasons.

Is crypto a replacement or another monetary product to work along side the dollar? We will see, and being invested is the only way to be "in" .

At it's most basic level.

This is why people invest in crypto.

Sure there is ideological investing.

Those who want to change the world.

I'm interested in changing my own little world.

To wit.



Not every coin is a winner.

Not every coin is a loser.

a reply to: projectvxn

When it comes to crypto-currency, are there any that are still mineable?

originally posted by: Vector99
a reply to: projectvxn

When it comes to crypto-currency, are there any that are still mineable?

There are several.

If you go to coinmarketcap.com it will tell you which ones are minable and which ones aren't

Non-minable coins are listed with 1 asterisk.

originally posted by: Vector99
a reply to: projectvxn

When it comes to crypto-currency, are there any that are still mineable?

Lots are mineable.

www.coingecko.com...

Tells you the algorithm underneath that is used to mine.

I'm starting to like bitscreener a lot.


bitscreener.com...

a reply to: projectvxn

Go read up on emotional investment.

a reply to: Mandroid7

Ok, I see you're not here to have a discussion.

I really meant it when I said go read up on this technology. Details are important. You're just spitballing conspiracy bull# in the dark, and now you wanna get snarky?

Please see your way out of this thread. The adults are talking.

a reply to: projectvxn

The whole idea behind Crypto currencies it seems to me is that the investment is bypassing the established banking system and the fiat currencies that they back and depend on.

However, the only way to start a purchase of Crypto currencies is by handing over fiat currency utilizing the established banking system. Makes little sense to me unless perhaps you are the individual whom created said Crypto currency, then you are rich simply from someone giving you the very fiat currency some oppose.

Call me crazy but I simply do not understand. Certainly there will be those who enrich themselves through what is simply a ponzi scheme.

The one's who invest early and cashes out for the same fiat currency he or she put into the scheme in the first place but now because others give the same but more due to the inflated price they have inflated the fiat currency they paid in, and are winners but the secondary investors waiting patiently runs the risk of no return and perhaps a loss.

I suppose if the Crypto retains popularity and has return investors it could actually work. The popularity as in vendors also willing to accept the risk and return investors willing to buy more could sustain it but...why would a vendor accept something that cost them to exchange for their own vending purposes and accept a big risk that it falls in price before conversion do that ? Why would a return investor who cashed out and is comfortable with millions in an established fiat return to invest and risk more ?

Doubtful they would or will...i may miss the boat but I will invest my backed up fiat currency in a regulated environment for a smaller but just as comfortable return, at least for my budget. I don't need a 40 room house nor a rare Lambo...i would have to clean the house and pay all those speeding tickets

a reply to: Mandroid7

The term emotional investments apply to any and all investments.

Applying it to only one kind of investments is silly and disingenuous.

a reply to: DJMSN

However, the only way to start a purchase of Crypto currencies is by handing over fiat currency utilizing the established banking system. Makes little sense to me unless perhaps you are the individual whom created said Crypto currency, then you are rich simply from someone giving you the very fiat currency some oppose.

Makes a lot of sense when savings and money market accounts make .01% a YEAR.

A person can make a hell of a lot more putting it in crypto's.

Will crypto even still exist in the same forms in 5-10 years?
Maybe,but we don't really know.
My firearms and ammunition will easily still be around in 5-10 years +
I even have one that is over 100 years old and been in both world wars,yet it still looks like brand new,if I had an original box for it I could ad a few zeros to the value.

a reply to: projectvxn
a reply to: neo96

Do either of you have a guide or walk through for starting mining? I have access to 5 fairly new computers and no worries of electricity for about 3-4 months. I have top speed internet.

Can I do anything in the way of mining? If you wouldn't mind running me through the basics I would appreciate it.

a reply to: Vector99

Can I do anything in the way of mining? If you wouldn't mind running me through the basics I would appreciate it.

Youtube.

Thousands of hours of how tos and information on it.

a reply to: seasonal

Right, I agree the dollar is a scheme, but it is established.

People trade their coins for cash.

It's good to rope people in thinking they are going to be rich off these amazing gains.

It's way too sketchy to put too much of your holdings into.

The fact that it is on the stock market being traded like it is makes it unsafe imo.

I used to day trade, I would day trade it all day.

The noise is there for it, for sure.

"Omg people are mrtging their homes to buy bitcoin"

A few viral reports will throw the value all over, with the small size and inflated values.

You would probably do better going long on green stocks.

To each his own, just be cautious and diversify, is all I'm saying.

a reply to: DJMSN

Honest question, have you read up on any crypto currency?

If not look up Ripple.

And you can fact check what Ripple is aiming to do by going to your bank and trying to send money for .0007 cents in 4 seconds. When you can't send money at your bank for .0007 cents in 4 seconds you will see why Ripple maybe the most important tool for banking since SWIFT.

No one would believe me if I told them the largest BTC whale in the world is the US federal government. Talk about ideology.

The feds are working on creating a new religion.

originally posted by: seasonal
a reply to: Mandroid7

The term emotional investments apply to any and all investments.

Applying it to only one kind of investments is silly and disingenuous.

No. Applying it to ANY investment is dead wrong.


The term emotional investment in my statement refers to just that.
People are incredibly emotionally invested in bitcoin, they think it's their golden egg.

They can't even look at it objectively, or throw down their rebuttal to real concerns.

You just get smug, over-emotional defense of their future yachting plans.

a reply to: neo96

I understand but one can lose a lot too. I am old so just wary of what at first look resembles a scam. Not poo pawing the idea just not ready to trust something not regulated by anyone other than some guy or gal on the internet.

And the stock market, also risky but more regulated has much larger returns just the last few months alone. Over several years, much larger than the figures you quoted.

I like the whole idea though and can see that once it somewhat establishes itself as far as being accepted as currency in the mainstream vendor world and perhaps when it stabilizes enough where more people are trading Crypto for Crypto and truly by passing the banking establishments instead of piggybacking on it.

I can see those in charge of these exchanges running to the bank everyday with the fiat currency given them to put it in the established bank accounts they keep for just that purpose happy with the return of 3 or even 0.01 percent on billions

a reply to: Mandroid7

Ever bad mouth Tesla-or Musk....Nuff said.

a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?