I decided to finally start gambling with these damn things. Now, seems like a good time if any. I just spent a bunch of gear money on Bitcoin & Ethereum. Fingers crossed
It’s my impression that, as far as investing goes, the best decisions are made when it seems obviously a bad decision, and worst decisions when it’s obviously a good decision.
The profit in any investment is tied to the degree of risk.
I agree with @bradleyallen I think you should sell and buy some gear/find something else to invest in
Buy the dip though
Obviously you know what you’re doing, because you correctly call it gambling. Good luck! I’ve been pondering the same thing, but I’m a bit concerned about governments making the exchange harder.
I have it on pretty reliable info that the cryptocurrency bubble is about to burst big time, but they could of course be wrong. No one knows for sure.
Good decision, I’ve been buying up some coins lately, made serious returns though these last few days the market has had a big pull back, Bitcoin has retraced 50% from it’s all time high, great time to buy and ride the wave back up! P.S. All investments are gambles, the key phrase is “risk management”. Good luck!
I think cryptocurrencies are here to stay, I have had a small amount of LTC for a while and it has gone right up then back down a bit, in the past 24hrs all major crypto has experienced a bit of a bloodbath, it seems that a few factors have contributed to this, including the virtual collapse of bitconnect.
One of the main barriers to entry is the comparitive difficulty in actually buying for the general population, banks and governments don’t want you to be able to, once this gets easier I think it will be a good opportunity for savvy people. But like any kind of gambling or investment never put any money in than you cannot afford to potentially lose.
The banks and government are the point. I’m also curious as to how a currency indexed to nothing can realistically survive.
“I’m also curious as to how a currency indexed to nothing can realistically survive.”
Like all Fiat currency you mean? We went off the gold standard in 1971, Dollars, Euros, Sterling you name it, backed by absolutely nothing.
The thing is though they can’t actually stop it, or they would have, in a way it is like the internet in that when it first came along most people didn’t get the point of it, no banks had an online service in the early 90s, you can watch news shows from back then (on youtube) where the presenters are almost ridiculing it as if it was some kind of fad. It is notable that the media is saying the same thing about crypto.
In the next few years crypto and mesh networks will have a dramatic impact on our lives, I think they will be as impactful as agriculture and the internet.
It might be the case that none of the current coins last, but I reckon some will.
Everything only has value as long as people agree that it does.
I’m all up for upsetting the dominant financial structures but how it’s tied now to downright insane energy consumption keeps me from adopting it. Sure, many existing industries are ecologically terrible as well but that 's no argument for creating and embracing new systems that waste incredible amounts of valuable energy and resources by design. See:
Good investments, however, produce earnings by way of their product or services and also have things like accountability and consumer protection practices in place. BTC ≠ stock in GE. The way to manage risk with 10-20% swings on any given day on loosely regulated non-registered securities is to avoid them altogether.
Euros, sterling and the dollar all have highly productive economies behind them that happen to produce large volumes of trade. I think some would argue that isn’t " absolutely nothing".
That is a good point, although I think these energy demands won’t be a long term problem, as the technology improves the power demands will be a fraction of what they are now, then of course there are sustainable energy sources which are becoming more viable.
I hope ETH goes back down to around $750 real quick so I can grab one more.
Take your point, I’m no economic expert which is why I’m curious. So, in simple terms for a layman, what stops a bank saying ‘I don’t have 5 billion dollars, I have 20 billion’
As much as I agree it’s still extremely risky in investment terms the upside more than makes up for the risk. 20% swings are a day traders dream. This is a huge bull market we are in right now and its not likely to stop any time soon. Blockchain technology is here to stay, the market will eventually become less volatile as the institutional money starts to come into the space. 1000% returns will eventually be a thing of the past so strike while its hot! Personally I’ve already made multiples of my original investment and regularly take profits, I’m playing with free chips. Just apply some common sense, don’t invest more than u can afford to lose, take profits when you have them and be prepared to learn and put in the time to research a coin thoroughly before investing in it.
The same thing that prevents you from saying so. You may say so, but doing so doesn’t will it into existence or make it true, ja?
Bitcoin is crashing at the moment, so good time to buy if you like gambling!