# Cryptocurrencies



## colorcountrygunner (Oct 6, 2009)

Anybody here invested in the cryptosphere? Anybody have an opinion on it? The future? Magic internet money that only and idiot would exchange fiat for? Just curious. I'm dabbling a little in it myself but so far 98 percent of my portfolio is noncrypto responsible, "safe", traditional investments. Not buttcoins.


----------



## DallanC (Jan 13, 2009)

Make believe money that is terrible for the environment due to the sheer computational power it takes to generate hash. The fact so many people speculate on this made up money (and I mean that literally, you can download the source code and create your own "coin" in an afternoon) just proves how much money is in circulation, and how little intrinsic worth it should have.

I think the FBI recovering the bitcoin from the pipeline shut down ransomware pierced alot of people's belief bubble that Crypto is beyond the reach of the government. The FBI recovered almost all of the bitcoin in a VERY short amount of time. The thought your bitcoin is safe from confiscation... meh, not really apparently.

But... real world scenario: The best tradable asset right now is Primers. You wouldn't believe how many trades I've done with folk since the start of this year based on primers as the basis for trade. Powders, easy to find. Other components, usually easy to find if patient... but if you have primers, you could trade them for gold.

I firmly believe the US Government will release a official crypto currency "fed-coin", and they will tax every transaction you make with it (no more cash payments for services or items), you will have to route it through their own app / exchange. What's odd is this new generation of kids who WANT to believe in the worth of cryptos, that its "cooler" than physical metals or other things of value. Its strange to me.

I carry a 1941 Walking Liberty in my pocket always. I love the look, I like that it reminds me of Pearl Harbor and the start of the WWII. And silver is cool.

-DallanC


----------



## brisket (Mar 3, 2015)

DallanC said:


> I firmly believe the US Government will release a official crypto currency "fed-coin", and they will tax every transaction you make with it (no more cash payments for services or items), you will have to route it through their own app / exchange.


The Federal Reserve is already working on it. In addition to the ease of taxation, they will have record of every single transaction you make. No more private cash transactions. Additionally, it will likely be used to restrict and regulate commerce. If the government wants to instantly shut down all commerce for an individual or industry (perhaps guns or ammo) they can. Scary stuff.


----------



## Critter (Mar 20, 2010)

I don't believe that I would ever own a currency that I can't hold in my hands.

I like silver and raw gold. I also have a lot invested in primers as Dallen mentioned.

If it comes down to the government not printing or minting a coin of the realm then I'll have to have that chip implanted into my hand for purchases. 

It was funny that last weekend I was looking for a utility trailer and found one that I liked but the owner wouldn't take a check and he turned down my offer to pay in silver eagles. So I missed out on that trailer.

Sent from my SM-J737V using Tapatalk


----------



## johnnycake (Jul 19, 2011)

Crypto is fun and frustrating. I've been playing in a handful of cryptos since 2017. I don't actively trade much anymore and am more of a hodler in a few of my favorites due to long term value and use case for what I think we'll last. But it's pretty fun to have something make an obscene return in a short time period.


----------



## colorcountrygunner (Oct 6, 2009)

I've heard about the thing the goverment is working on. CBDC or central bank digital currency. I do agree that physical gold and silver that you can hold in your hand is awesome. Our primitive monkey brains like shiny stuff and probably always will. You should see the conviction the autists over on reddit have for Bitcoin. After a few minutes of perusing r/bitcoin they about have me convinced to cash out my 401k and go all in on bitcoin. Then I realize they all talk and act like they are in a cult. But then again....who knows?


----------



## colorcountrygunner (Oct 6, 2009)

johnnycake said:


> Crypto is fun and frustrating. I've been playing in a handful of cryptos since 2017. I don't actively trade much anymore and am more of a hodler in a few of my favorites due to long term value and use case for what I think we'll last. But it's pretty fun to have something make an obscene return in a short time period.


What do you think might have a future, johnnycake. I have a coworker who is long in XRP and XLM basically for no other reason than his friend that he considers to be smart tells him to load up the bag. SEC lawsuit be damned. I have a modest amount of buttcoin...er...bitcoin myself.


----------



## colorcountrygunner (Oct 6, 2009)

brisket said:


> The Federal Reserve is already working on it. In addition to the ease of taxation, they will have record of every single transaction you make. No more private cash transactions. Additionally, it will likely be used to restrict and regulate commerce. If the government wants to instantly shut down all commerce for an individual or industry (perhaps guns or ammo) they can. Scary stuff.


That's the same criticism I have read from others. Scary stuff, indeed. That's the main thing the pro crypto crowd supports crypto for. Less government control.


----------



## brisket (Mar 3, 2015)

Another thing to consider is the government hates competition. Once the fed coin comes out, so will the regulations on all the other crypto coins, likely causing a major crash.


----------



## 3arabians (Dec 9, 2014)

I got in dogecoin at .10 and .17 during the initial run up and sold at .45. It was lots of fun! 

Played it 3 times since and lost each time. 

Looking back on it, I have more fun when there is casino sounds and free drinks involved. 


Sent from my iPhone using Tapatalk


----------



## Catherder (Aug 2, 2008)

There is a quote attributed to Warren Buffet saying that he only invests in something he understands. Welp, that pretty much eliminates cryptocurrencies for me. It also seems like it is very heavy on speculation, but I've never been much of an aggressive investor anyway, so I hope you guys do well with it. I will stick to stocks. I suppose I'll also refrain from chiming in on the Big Brother speculation too. 🤷‍♀️


----------



## johnnycake (Jul 19, 2011)

colorcountrygunner said:


> What do you think might have a future, johnnycake. I have a coworker who is long in XRP and XLM basically for no other reason than his friend that he considers to be smart tells him to load up the bag. SEC lawsuit be damned. I have a modest amount of buttcoin...er...bitcoin myself.


XRP has a very interesting use case and solves a real world problem with nostro/vostro accounts and cross border payments. The SEC lawsuit is pretty laughable imo. I also like ETH, for the smart contracts features primarily. I've made plays in a few others and mostly done well on them before exiting, but long term I haven't read any whitepapers that are as convincing on longevity and broader adoption than XRP and ETH. I was pretty aggressive in my trading from 2017-2019, and the tax filings were heinous. 

If I can just get XRP to go back over $3 I could cash out and have a lot of fun. If it goes over $10 I could retire. But I think in the next 5-10 years it'll climb and stay in the $3-5 range.


----------



## DallanC (Jan 13, 2009)

Catherder said:


> I will stick to stocks.


NIO 

-DallanC


----------



## colorcountrygunner (Oct 6, 2009)

johnnycake said:


> XRP has a very interesting use case and solves a real world problem with nostro/vostro accounts and cross border payments. The SEC lawsuit is pretty laughable imo. I also like ETH, for the smart contracts features primarily. I've made plays in a few others and mostly done well on them before exiting, but long term I haven't read any whitepapers that are as convincing on longevity and broader adoption than XRP and ETH. I was pretty aggressive in my trading from 2017-2019, and the tax filings were heinous.
> 
> If I can just get XRP to go back over $3 I could cash out and have a lot of fun. If it goes over $10 I could retire. But I think in the next 5-10 years it'll climb and stay in the $3-5 range.


Well, now that I have heard a real life attorney say that the SEC case has no merit, I am filling up the XRP bag. See you at the moon, boys! 🚀🚀🚀 What color lambos should I get?


----------



## bowguyonly (Dec 31, 2018)

THETA

Wall Street is dead. 

Gold. Silver.


----------



## PBH (Nov 7, 2007)

forget the crypto stuff. I'm all in on Non-fungible Tokens.


----------



## colorcountrygunner (Oct 6, 2009)

PBH said:


> forget the crypto stuff. I'm all in on Non-fungible Tokens.


Some tough actin tinactin ought to clear that right up.


----------



## backcountry (May 19, 2016)

I only trade in narwhal tusks myself. They are bulky to store but they have a steady rate of return according to a reddit article I read once.


----------



## bowguyonly (Dec 31, 2018)

PBH said:


> forget the crypto stuff. I'm all in on Non-fungible Tokens.



THETA , TFUEL

With co founder of youtube running Theta having Creative Artists Agency, Lionsgate, Draft Kings and World Poker Tour partnerships. . . I think they are also up to 4 U.S. patents now.
Katie Perry (part of a ton of big names under CAA) announced Theta blockchain for NFTs a few weeks ago. They'll start in the fourth quarter.
Look into it if you really like NFTs

It's also decentralized internet, CDN. . .


----------



## PBH (Nov 7, 2007)

You could own your very own Jordan Clarkson dunk!








Get a Jordan Clarkson Moment™ NFT for USD $53.00


Jordan Clarkson is a problem with the ball in his hands. The 2021 Sixth Man of the Year sizes up his Toronto Raptors defender with a series of dribbles moves on the perimeter before spinning into the paint, beelining toward the hoop and capping off the isolation play with an instant classic...




nbatopshot.com





NFTs are the shizzle of my nizzle.


----------



## Lone_Hunter (Oct 25, 2017)

Critter said:


> I don't believe that I would ever own a currency that I can't hold in my hands.


Why, I will never buy Bitcoin or anything like it. I know I'm being willfully ignorant, but I have no faith in something that is ultimately comprised of positive and negative magnetic polarities, expressed as 0s and 1's, on some remote machine in some other far off place, that for all intents and purposes, ceases to exist the instant the power goes out.


----------



## brisket (Mar 3, 2015)

Lone_Hunter said:


> Why, I will never buy Bitcoin or anything like it. I know I'm being willfully ignorant, but I have no faith in something that is ultimately comprised of positive and negative magnetic polarities, expressed as 0s and 1's, on some remote machine in some other far off place, that for all intents and purposes, ceases to exist the instant the power goes out.


What if the power stays on?

Cryptocurrencies have been a lifesaver in Venezuela during their recent hyperinflation. If Venezuela can manage to keep the power on, I’d bet the U.S. can too.


----------



## Lone_Hunter (Oct 25, 2017)

brisket said:


> What if the power stays on?
> 
> Cryptocurrencies have been a lifesaver in Venezuela during their recent hyperinflation. If Venezuela can manage to keep the power on, I’d bet the U.S. can too.


Fair point. Not meaning to fall into the "what if" game, but ahh.. (yeah I know), what if access is denied? Given the current trend on the internet with all the major tech companies, and corporate activism, it's entirely conceivable that access or transactions could be restricted or denied in the future.

I know I sound like a mattress stuffer, I just don't trust it. I think I trust it less then our spiraling fiat currency. It all sounds like a fad, and even if it isn't, the federal government will screw with it eventually. Nobody makes money, unless they're making money too.

edit: I'm very much a layman in all of this. Not a stock market, finance guru, so I acknowledge I'm probably talking squarely out of my ass.


----------



## DallanC (Jan 13, 2009)

brisket said:


> Cryptocurrencies have been a lifesaver in Venezuela during their recent hyperinflation. If Venezuela can manage to keep the power on, I’d bet the U.S. can too.


They were also bartering with Silver. Lots of youtube video interviews with people living down there, and how they were surviving. Most "salt of the earth" types living there have no concept of bitcoin... or computers for the most part. But they shifted to a barter economy pretty quickly though. Any mechanic who could turn a wrench an solve a problem without needing newly expensive parts did pretty good.

-DallanC


----------



## johnnycake (Jul 19, 2011)

Lone_Hunter said:


> Fair point. Not meaning to fall into the "what if" game, but ahh.. (yeah I know), what if access is denied? Given the current trend on the internet with all the major tech companies, and corporate activism, it's entirely conceivable that access or transactions could be restricted or denied in the future.
> 
> I know I sound like a mattress stuffer, I just don't trust it. I think I trust it less then our spiraling fiat currency. It all sounds like a fad, and even if it isn't, the federal government will screw with it eventually. Nobody makes money, unless they're making money too.
> 
> edit: I'm very much a layman in all of this. Not a stock market, finance guru, so I acknowledge I'm probably talking squarely out of my ass.


You are.


----------



## colorcountrygunner (Oct 6, 2009)

Since the time of this posting crypto has been on a bit of a run. I believe at this time Bitcoin was trading in the low $30K range and it is now up in the high $40K range. All the other coins more or less rise and fall with Bitcoin. Not saying this means anything for the long term. If anything it may just show how highly volatile it is. Whatevs. Stack sats and HODL!


----------



## Berretumkin (3 mo ago)

Experts and specialists in the banking sector still cannot assess the reasonableness of investing in cryptocurrency. However, those enthusiasts who believe in the future growth of the bitcoin exchange rate are making a profit now. The use of currency is gaining momentum due to many useful ways to implement it. The number of users who have linked their business with bitcoin is growing. I invest and trade cryptocurrency carefully using a wallet merchant.cryptex.net. I also did not believe that many economists would seriously say the future is behind cryptocurrency a few years later. Denying progress will never lead to development, so I decided to try it.


----------

