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Investment Thread - For all your money needs

siff said:
Is it wrong that I don't understand crypto and have no desire to do so?
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No. It blows my mind that we see ads and discussion about how to buy enough fake money that it becomes valuable and then wonder why people are quitting their jobs.
 
siff said:
Is it wrong that I don't understand crypto and have no desire to do so?
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I wouldn't say its wrong. I think its similar to the internet in the mid 80s. Most of us are nowhere near understanding the usage moving forward. Blockchain is definitely here to stay. Current crypto and NFTs are mostly hype but I think the idea behind them (smart contracts, decentralized finance, digital currencies) are already beginning to replace our current systems of banking and transactions. You'll almost certainly use them but kids being born now will grow up with them as the norm.
 
I think a decent comparison is when the first MP3’s started dropping. Most folks were like, “whatever, it’s music on my computer, big deal. I already have music on my computer.”

Then it destroyed the entire music industry as we knew it.

Blockchain tech is to financial transactions as mp3 compression was to audio data. Crypto is definitely not just hype.
 
HuskyDeac said:
I wouldn't say its wrong. I think its similar to the internet in the mid 80s. Most of us are nowhere near understanding the usage moving forward. Blockchain is definitely here to stay. Current crypto and NFTs are mostly hype but I think the idea behind them (smart contracts, decentralized finance, digital currencies) are already beginning to replace our current systems of banking and transactions. You'll almost certainly use them but kids being born now will grow up with them as the norm.
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This makes sense but my one question/concern with crypto is around the digital currency component. How does crypto become a viable long term currency with the massive swings in valuation that can happen on a daily or even hourly basis? Also, how do you best evaluate which crypto has the best chance for staying power and the greatest returns? Obviously bitcoin and probably ethereum are here to stay, but seems like a crap shoot with the rest of them.
 
95% of the cryprto out there isn’t a “currency” or trying to replace anything related to tangible money
 
DCDeac said:
I think a decent comparison is when the first MP3’s started dropping. Most folks were like, “whatever, it’s music on my computer, big deal. I already have music on my computer.”

Then it destroyed the entire music industry as we knew it.

Blockchain tech is to financial transactions as mp3 compression was to audio data. Crypto is definitely not just hype.
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This. And people need to decouple crypto from bitcoin. The value in crypto is the block chain.
 
truifh0 said:
This makes sense but my one question/concern with crypto is around the digital currency component. How does crypto become a viable long term currency with the massive swings in valuation that can happen on a daily or even hourly basis? Also, how do you best evaluate which crypto has the best chance for staying power and the greatest returns? Obviously bitcoin and probably ethereum are here to stay, but seems like a crap shoot with the rest of them.
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most of the world has currencies that fluctuate wildly in valuation compared to the dollar. the reason it feels speculative to us is because we are still thinking in terms of dollars as our value, which then distorts our view of cryptocurrency. Same way I feel about buying euros - I don't have a lot of use for it daily, so if I convert it back to dollars then i'm going to have market swings and conversion costs. But if your entire economy was based in a specific cryptocurrency, you wouldn't care about its value relative to the dollar, just like I don't care personally about ridiculous swings in Venezuelan pesos vis a vis the dollar.
 
I would think as circulation continues to expand in Bitcoin it will eventually settle and wild swings won't be common. Seems like its almost entirely viewed as an investment opportunity still but if the rapid gains settle i think more people will start using it to trade or purchase which will in turn cause more stability. I still don't really see why its BTC other than they have the name factor. I've stayed away and am holding ETH, Solana, Looping and Polygon with a handful of other smaller cap lottery tickets. Feel like their value is more based on technology foundations than BTC.
 
What are the other ones you're holding, husky? I used to mine Eth and am still kicking myself for not using some of the money from selling my equipment to buy a few more units when it was <$200.
 
Markets getting vaporized today over new variant fears.

Buying opportunity...
 
ipitytheblue said:
What are the other ones you're holding, husky? I used to mine Eth and am still kicking myself for not using some of the money from selling my equipment to buy a few more units when it was <$200.
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I've kind of bounced around based on momentum I've seen. Currently have ENJ, PLA and Gala - all blockchain gaming/NFT plays. They're admittedly like throwing darts. I try to research a bit and see if people are talking about usage or just posting rocket emotions. Probably need to start looking at coins on alternative markets if I want to hit any huge winnings, but I'm not that interested.
 
Also next week the NDAA senate vote will happen followed by conference to merge the house and senate amendments. If SAFE gets included on the final bill Marijuana stocks will see a big spike. If not - further pain. Lots of support from both sides of the aisle though.
 
motley fool is just a hifalutin brand of STONKS. they say to buy stuff and it just goes up because of their recommendation. and the spam emails are unbelievable.
 
Any of y’all listen to or follow David Stein…“Money For The Rest Of Us”…?

I don’t keep up with the industry of personal finance writing etc. but I have a little down time and came across this…superficial look he sounds like maybe worth looking into further…?
 
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