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Anyone else "dabbling" in cryptocurrency?

Discussion in 'Sidewinders Bar & Grille' started by s5tuart, Sep 4, 2017.

  1. s5tuart

    s5tuart ...... Strat-Talk Supporter

    Age:
    73
    Aug 8, 2011
    Bedford, UK
    I had Bitcoins and Ethereum but recently changed them over to Litecoins. Boy am I glad I did! Doubled in a month!
    I'll be holding them (the price is slowly falling again now) as I predict another steady rise in the last 1/4 of this year.

    I wish I'd bought 100 Bitcoin in 2013 at £8 each...they're currently at £3,450!
     
    circles, lonegroover and abnormaltoy like this.

  2. Mr. Lumbergh

    Mr. Lumbergh needs you to go ahead and come in on Sunday, too. Strat-Talk Supporter

    Jan 10, 2014
    Initech, Inc.
    Anyone else "dabbling" in cryptocurrency?
    Nope. Of course, I failed to see the rise of Apple, Faecebook, and Amazon even though those are sort of obvious in hindsight, so I'm not really the guy you wanna talk to for investment advice.
     

  3. s5tuart

    s5tuart ...... Strat-Talk Supporter

    Age:
    73
    Aug 8, 2011
    Bedford, UK
    well, if I make enuf I'm not coming in Sundays any more! :p
     

  4. Rob Moreno

    Rob Moreno Strat-Talker

    Age:
    48
    271
    May 28, 2017
    Tokyo
    I watched a documentary on Bitcoin a quite a few years ago. That got me interested in buying some but I didn't go through with it. I'm not much of a risk taker, and even though the documentary explained in layman's terms what the currency is I still couldn't understand how it could sustain itself if anyone with a powerful enough computer could churn out Bitcoins. Seems the market would eventually become saturated once computer power reaches a certain level.
     
    abnormaltoy, Monkeyboy and s5tuart like this.

  5. Mr. Lumbergh

    Mr. Lumbergh needs you to go ahead and come in on Sunday, too. Strat-Talk Supporter

    Jan 10, 2014
    Initech, Inc.
    Yeah, it's just that we lost some people recently, and sort of need to play catch-up, mmmkay?
     

  6. CaseCandy

    CaseCandy Senior Stratmaster

    May 9, 2015
    UK/Ireland
    I got given some money when I left a job some years ago, about the equivalent of $70, and I purchased a reasonably good ASIC miner from a friend who had become disillusioned by the BTC price falling and difficulty going up. Joined a pool, let it whirr for a while, ignored it forgot about it.

    Went back recently and checked the BTC price - as was about $200 when I started - and got the shock of my life. The money had been auto-transferring into a wallet, which took me a week to recover the forgotten password for. Have taken some of the money out and ordered a new bass. Not sure what to do with the rest of it, this is the bit that you need to hold your nerve for...... could grow a lot more or could bomb overnight.
     
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  7. Dadocaster

    Dadocaster Most Honored Senior Member Strat-Talk Supporter

    As long as one grasps that it is gambling and not investing and treats it as such, I say go for it. In my case, I am not really willing to put money into something that can't easily be understood and that gains mostly through speculation.
     

  8. oatsoda

    oatsoda Puck of Paradox Strat-Talk Supporter

    Age:
    49
    Jul 10, 2011
    The Shack, Nova Scotia
    Not me. Have a little in a tfsa that the bank has in their giant low risk / low return mutual funds.

    Any of you who have made fortunes, feel free to PM me with the next big thing.
     
    abnormaltoy likes this.

  9. Dadocaster

    Dadocaster Most Honored Senior Member Strat-Talk Supporter

    I am pretty comfortable with putting some money in ETFs and buying some small amounts of stock in companies that actually do/make/provide a service that I can make a judgement on. It's not going to make me rich, but at least I am making some money from extra money that would be sitting around gaining nothing.
     
    abnormaltoy likes this.

  10. s5tuart

    s5tuart ...... Strat-Talk Supporter

    Age:
    73
    Aug 8, 2011
    Bedford, UK
    It clearly matters if you need the money or can afford to let it lie. I have "invested" what I can afford to lose without sweating it. As @Dadocaster so rightly says it is a form of gambling. There are as many opinions on cryptocurrency as there are leaves in a forest, but the general consensus suggests that the early-ish adopters will have it made once more establishments accept it as payment. There is a chance that in 5 years time one Bitcoin will be worth £100,000+
    There is also a chance that in 5 years time one Bitcoin will be worth zero. The other currencies will follow suit. I'm happy to wait if out... :D :D
     
    abnormaltoy likes this.

  11. Dadocaster

    Dadocaster Most Honored Senior Member Strat-Talk Supporter

    I agree with you totally. I have in my modest portfolio a few shares of a US company that was nearly destroyed due to some odd/bad news a few years back. I put some cash into the stock because of my belief that the company would come back. As you mentioned, I only invested an amount that I could lose without crying and made the transaction knowing it was a gamble. It's taken 3 YEARS but the stock is finally trading in a range that would make me a profit. For a while it looked like the money was down the toilet. I am just going to leave it lie and see what happens next.
     
    abnormaltoy and s5tuart like this.

  12. Nadnitram

    Nadnitram Strat-Talker

    Age:
    49
    282
    Jul 18, 2017
    Canton, Ohio
    Wish I had a dog in that race, too. However, since I have most of my money tied up in BetaMax, I'm just going to wait for that to take off.
     

  13. Thrup'ny Bit

    Thrup'ny Bit Certified Curmudgeon Strat-Talk Supporter

    Age:
    58
    May 21, 2010
    In my own little world
    I'm still struggling with this new fangled decimal currency bo****ks, lend us half a kick mate?
     
    Hairy Bear, abnormaltoy and s5tuart like this.

  14. fezz parka

    fezz parka The Wiggler of Sticks Strat-Talk Supporter

    I deal in lead with a full metal jacket. :D
     

  15. ZlurkCorzDog

    ZlurkCorzDog The Artist Formerly Known As gt Strat-Talk Supporter

    I'm thinking Dot con bubble.
     
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  16. Mr. Lumbergh

    Mr. Lumbergh needs you to go ahead and come in on Sunday, too. Strat-Talk Supporter

    Jan 10, 2014
    Initech, Inc.
    ZlurkCorzDog likes this.

  17. ZlurkCorzDog

    ZlurkCorzDog The Artist Formerly Known As gt Strat-Talk Supporter

    What do you get when you combine Balderdash, Poppycock & bu****ks?
     

  18. Ebidis

    Ebidis Providing the world with flat bends since 1985 Strat-Talk Supporter

    Age:
    51
    Nov 14, 2013
    Alabama
    Crypto whosawhat? I have no idea what you are rambling on about.
     
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