Anyone investing in this Crypto?

[jtwalker]

You've only lost money if you've sold.  HODL and ignore the FUD.

[Typical]

I have no idea where cryptocurrency prices will go in the future and neither does anyone else. But it looks like, so far, the big "pump and dump" event in Miami a few weeks ago has not payed off for its sponsors as cryptos have only fallen further since the hype.

I have a sneaking suspicion that a lot of bored "investors" with stimulus funds really inflated the market for awhile, feeding off of each other's trades. That is obviously not sustainable.

Don't gamble more than you can comfortable lose.  

[Guest]

20 hours ago, jtwalker said:

You've only lost money if you've sold.  HODL and ignore the FUD.

An intrepid view indeed, but unfortunately not true except from a tax standpoint.  Sure, if you bought at 5, you’ve only lost “gain” as it fell from 60 to 30. But, if you bought at 60, you’ve lost real money.  

you say “damn the torpedoes.”  I say “tulips!”

[Copemar]

Well, you never know what industries may combine. I haven't tried this crypto yet, but you made me interested. Speaking o crypto, what do you do with the money you collect? Do you invest them in anything else? Do you extract them? I was in search of a possibility to extract my money in my local currency, and luckily, I found revisionesdetarjetascripto.com, if anyone is searching for something like this. However, I would like to know what others do in order to see more perspectives and possibilities.

Edited December 7, 2021 by Copemar

[+ Pensant]

I’ve been enjoying the upside ride on a blockchain investment I made in September. One was only allowed to invest $250, so I figured if I lost it it’s nothing more than a trip to Costco.

[TeddyBear84]

It seems to me that investing in cryptocurrency is always relevant since its inception. It gives financial stability and some confidence in the future. But I like that cryptocurrency can be taken lightly. For example, it's being used in games now. In the likes of galaxy fight club

Edited December 13, 2021 by TeddyBear84

[Guest]

On 12/6/2021 at 7:31 AM, Pensant said:

I’ve been enjoying the upside ride on a blockchain investment I made in September. One was only allowed to invest $250, so I figured if I lost it it’s nothing more than a trip to Costco.

$250 limit?

[+ Pensant]

21 hours ago, BnaC said:

$250 limit?

Yes.

[Chubakazubaka]

Yes, of course. I'm actively looking for new projects on coinmarketcap in which I invest and sometimes make a profit

Edited December 22, 2021 by Chubakazubaka

[Wasarad]

I invest with Robinhood. I enjoy using it because it allows me to trade individual stocks, cryptocurrencies, ETFs. You can get these features with almost any brokerage account like Charles Schwab, TD Ameritrade, etc. The greatest thing is Robinhood didn't charge you a trading fee as the other brokerage companies do it. You could take a look here https://www.playlouder.com/acorns-vs-robinhood-vs-webull-vs-m1-finance/. Conclusion: there are explained all investment opportunities, and the differences are revealed between other popular investment apps.

Edited January 22, 2022 by Wasarad

[Guest]

So much for this experiment.  While it’s sad that crypto was perceived as better than their own currency, it doesn’t appear to be helping their situation any.  
 

“The International Monetary Fund is pushing El Salvador to ditch bitcoin as legal tender, according to a statement released on Tuesday.

IMF directors “stressed that there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities.”

https://www.cnbc.com/2022/01/25/drop-bitcoin-as-legal-tender-imf-urges-el-salvador.html
 

[Guest]

Sanctions gave new life to crypto as Russians realized that crypto risk was less that ruble risk.   But alas, crypto allows a back door workaround for sanctions.  And sanctioners will not tolerate this.  
I think now you will see a move toward regulation accelerate.  This is, in my opinion, the biggest existential risk that exists for crypto and libertarian principles will not be able to hold back this movement.  Mainstream money managers who “watched crypto with curious interest” are now starting to go public with unbridled warnings. 

https://rollcall.com/2022/03/08/lawmakers-fear-cryptocurrencies-could-be-backdoor-for-sanctioned-rubles/

Edited March 9, 2022 by BnaC

[Beancounter]

On 1/21/2022 at 1:51 PM, Wasarad said:

I invest with Robinhood. I enjoy using it because it allows me to trade individual stocks, cryptocurrencies, ETFs. You can get these features with almost any brokerage account like Charles Schwab, TD Ameritrade, etc. The greatest thing is Robinhood didn't charge you a trading fee as the other brokerage companies do it. You could take a look here https://www.playlouder.com/acorns-vs-robinhood-vs-webull-vs-m1-finance/. Conclusion: there are explained all investment opportunities, and the differences are revealed between other popular investment apps.

TDAmeritrade does not charge a trading fee for purchasing or selling individual stocks.  

[Kevin Slater]

2 hours ago, Beancounter said:

TDAmeritrade does not charge a trading fee for purchasing or selling individual stocks.  

I think most brokerages don't charge commissions on trades anymore.  Certainly Fidelity and Schwab don't.

While Robinhood technically doesn't charge a fee for trading stocks or crypto, they make it up in a larger spread.  No free lunch.

Kevin Slater

[+ SundayZip]

I was initially neutral on cryptocurrency, thinking, if some people want to speculate, why not?  But then I started learning about its environmental impact.

“The University of Cambridge estimates that Bitcoin alone generates 132.48 terawatt-hours (TWh) annually, which easily surpasses the annual energy usage of Norway at 123 TWh in 2020. The amount of carbon dioxide emitted by this energy usage will vary depending on how that energy was created. But in 2020, the US — where 35.4% of Bitcoin mining takes place since China banned cryptocurrency mining in 2021 — created .85 pounds of carbon dioxide per kWh. This results in nearly 40 billion tons of carbon dioxide produced by US Bitcoin mining alone.”   Business Insider March-2022

“The environmental concern comes from the estimated carbon footprint generated by the power plants providing that energy. And it isn’t just mining that uses lots of power—a single Bitcoin transaction is estimated to burn 2,292.5 kilowatt hours of electricity, enough to power a typical US household for over 78 days.” PCMag January-2022

Some cryptocurrencies are investigating ways to reduce energy consumption, but with limited success.  If/when the cryptocurrency world can solve the environmental impact problem, I might be on board.

Edited April 18, 2022 by SundayZip

[Guest]

“If you said… for a 1% interest in all the farmland in the United States, pay our group $25 billion, I’ll write you a check this afternoon,” Buffett said. ”[For] $25 billion I now own 1% of the farmland. [If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I’ll write you a check, it’s very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything. The apartments are going to produce rent and the farms are going to produce food.”

https://www.cnbc.com/2022/04/30/warren-buffett-gives-his-most-expansive-explanation-for-why-he-doesnt-believe-in-bitcoin.html

[CalTec]

On 4/18/2022 at 8:54 AM, SundayZip said:

I was initially neutral on cryptocurrency, thinking, if some people want to speculate, why not?  But then I started learning about its environmental impact.

“The University of Cambridge estimates that Bitcoin alone generates 132.48 terawatt-hours (TWh) annually, which easily surpasses the annual energy usage of Norway at 123 TWh in 2020. The amount of carbon dioxide emitted by this energy usage will vary depending on how that energy was created. But in 2020, the US — where 35.4% of Bitcoin mining takes place since China banned cryptocurrency mining in 2021 — created .85 pounds of carbon dioxide per kWh. This results in nearly 40 billion tons of carbon dioxide produced by US Bitcoin mining alone.”   Business Insider March-2022

“The environmental concern comes from the estimated carbon footprint generated by the power plants providing that energy. And it isn’t just mining that uses lots of power—a single Bitcoin transaction is estimated to burn 2,292.5 kilowatt hours of electricity, enough to power a typical US household for over 78 days.” PCMag January-2022

Some cryptocurrencies are investigating ways to reduce energy consumption, but with limited success.  If/when the cryptocurrency world can solve the environmental impact problem, I might be on board.

Hi @SundayZip

 

A few things here.  First off, you're right about energy usage concerns.  Large industry players are working on sustainable mining operations; from geothermal power from volcano's to solar/Megapack farms built with Tesla and other companies.  It's getting there, and innovations are coming in hot.

 

Furthermore, it's important to note that POW crypto is not the only consensus mechanism; POS or Proof of Stake is a great alternative which uses much less energy.  If you have any questions, feel free to hit me up! 🍻

[Guest]

On 5/3/2022 at 10:31 AM, Calix_V2 said:

Hi @SundayZip

 

A few things here.  First off, you're right about energy usage concerns.  Large industry players are working on sustainable mining operations; from geothermal power from volcano's to solar/Megapack farms built with Tesla and other companies.  It's getting there, and innovations are coming in hot.

 

Furthermore, it's important to note that POW crypto is not the only consensus mechanism; POS or Proof of Stake is a great alternative which uses much less energy.  If you have any questions, feel free to hit me up! 🍻

While I understand you’re trying to assuage @SundayZip’s concern, I offer a couple of contrary counterpoints:

- electricity is a fungible commodity wherever transmission lines exist

- electricity consumption has increased about 3x in 40yrs  when we invent new lower consumption products, consumption still increases   

- just because a source (like geothermal) is being developed to support crypto doesn’t mean that it’s not taking away from global capacity or adding to global costs.  If you build dedicated electricity supply, you still have to recover the investment (at a cost to someone) and it’s still generating capacity taken away from other uses.

the fact that energy consumption is a point of discussion in the process of delivering a medium of exchange seems a bit surreal to me. 

[Guest]

An interesting twist indeed - 

coinbase warns bankruptcy could wipe out user accounts

“Coinbase users would become “general unsecured creditors,” 

this description means that account holders are last in line to get payouts and if there’s a shortfall after secured creditors are paid, then the shortfall would come out of user accounts  

Is it theoretical or real?  Well, there have been a lot of black swan events in the last decade…imagine if the company filed bankruptcy and couldn’t pay the power bill 😳

 

[Kevin Slater]

20 minutes ago, BnaC said:

An interesting twist indeed - 

coinbase warns bankruptcy could wipe out user accounts

“Coinbase users would become “general unsecured creditors,” 

this description means that account holders are last in line to get payouts and if there’s a shortfall after secured creditors are paid, then the shortfall would come out of user accounts  

Is it theoretical or real?  Well, there have been a lot of black swan events in the last decade…imagine if the company filed bankruptcy and couldn’t pay the power bill 😳

 

Which I guess is one argument for holding your crypto in Fidelity. 

Kevin Slater 

[Guest]

13 minutes ago, Kevin Slater said:

Which I guess is one argument for holding your crypto in Fidelity. 

Kevin Slater 

Could be - notwithstanding the fact that some cite that 40% of users are under water in their basis...and that was published a few days ago before the most recent meltdown

 

 

[Guest]

6 hours ago, Kevin Slater said:

Which I guess is one argument for holding your crypto in Fidelity. 

Kevin Slater 

Oops, from Fidelity….does this mean what I think it means?

Can I buy cryptocurrencies at Fidelity?

Retail brokerage customers cannot buy or sell any cryptocurrencies at Fidelity. However, those who have a Coinbase digital currency account can arrange to view those balances on Fidelity.com. Although bitcoin futures are now available for trading on the CBOE and CME, Fidelity does not currently have any plans to offer bitcoin futures trading for its retail brokerage customers.

[Kevin Slater]

3 hours ago, BnaC said:

Oops, from Fidelity….does this mean what I think it means?

Can I buy cryptocurrencies at Fidelity?

Retail brokerage customers cannot buy or sell any cryptocurrencies at Fidelity. However, those who have a Coinbase digital currency account can arrange to view those balances on Fidelity.com. Although bitcoin futures are now available for trading on the CBOE and CME, Fidelity does not currently have any plans to offer bitcoin futures trading for its retail brokerage customers.

That's been on their website for ages.  It does not reflect their current plans to allow bitcoin within some 401ks later this year.

Kevin Slater

[MscleLovr]

58 minutes ago, Kevin Slater said:

It does not reflect their current plans to allow bitcoin within some 401ks later this year.

Madness IMO. If you’re in the market for crypto, I have some new clothes, fit for an Emperor, that I can sell you.

[CalTec]

On 5/11/2022 at 8:13 PM, BnaC said:

An interesting twist indeed - 

coinbase warns bankruptcy could wipe out user accounts

“Coinbase users would become “general unsecured creditors,” 

this description means that account holders are last in line to get payouts and if there’s a shortfall after secured creditors are paid, then the shortfall would come out of user accounts  

Is it theoretical or real?  Well, there have been a lot of black swan events in the last decade…imagine if the company filed bankruptcy and couldn’t pay the power bill 😳

 

Thanks for posting this. It's something those who hold assets on CB should not take lightly.  The extremely cliché saying, "not your keys, not your crypto" really comes into play here.  While people are waking up to crypto, the fundamental lesson of custodying their own digital assets (cold wallet, securing seed phrase responsibly, etc) is a must. Especially in turbulent markets.  An "exchange exit strategy" is also a prudent investment in one's time.  Coinbase is on my "do not ever use" list personally.