Does anyone invest in Crypto?

Curious if anyone here does. I know someone who owns 4 bitcoins. I am mad jealous LOL

I was considering getting into crypto but I want to invest in less popular ones so if they boom, I can see a huge increase. Investing in bitcoin now, well, I would have to invest a lot to see a big return,.

I do not but I have been interested in it. I am just worried the government is going to find a way to screw it up and it won’t be worth investing in lol

I won a bitcoin years ago. No idea how to access it now, which is a bummer. I one it in some online competition when they were trying to get the currency more relevant.

Nah. I never was interested in it. I would rather invest in actual stock if I am going to do any kind of investing. I just don’t have the spare cash for it right now so I never looked into it.

I have some stock but I haven’t dabbled in crypto. Most of my friends are into it and trying to get me to invest in Stellar. I might put $100 on it. Though I did check it the other day and it was down by a lot.

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Same for me. No crypto but I have stock. I wish I would have invested some money into Gamestop at the beginning of January. I bet we can all say that though lol

I was going to but I have not figured everything out yet. I don’t know what to invest in or what wallet to go with. I am open to suggestions if anyone has them. I will probably only invest like $200 max in this though.

That sucks man! You could have 60k right now. I would be pissed. Some dude I talk to now and then, a bit of an online friend, mentioned that he had 5 of them but because they were saved to a computer that was destroyed in a fire, they are gone for good.

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I have some, no Bitcoin though. I decided to just get a few different ones that my work friend suggested. Said they can grow over the next few years. I only invested like the $50 minimum for the site.

I was at first but what can I do LOL

Oh damn, now if I had 5 of them and lost them, I would still be crying over that. I would legit be heartbroken for weeks.

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Goverment wants their tax money one way or another. At least with crypto they can’t take your keys if you know what you’re doing :hear_no_evil: :speak_no_evil: :see_no_evil:

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Waiting on my stimulus and then I am buying some. lol Putting $800 down on my car to pay it off faster and then putting the other $600 into crypto. Just not sure which to buy yet.

This is sad but true. I was looking at options for physical wallets with the long string keys. A friend of mine got one and they sound pretty neat.

@PKGamez so you mean the hardware wallets? I think more and more people are getting those for crypto because it is safer in a way. I guess it is better if you have something like Bitcoin where you are not relying on a virtual wallet that is run by someone else. Like some people store them into their computers which isn’t entirely safe either.

Technically, you’re not investing in crypto. Instead, you are hedging your bets like a gamble. This is because crypto (unlike fiat currency) is a speculative digital asset. There is no real value to it, but a perceived value, which is highly dependent on trends and transactions. Also, the only reason crypto has boomed is (and this is hard fact) is because it is the only accepted tradable instrument in the Dark/Deep Web (especially BTC).

As it stands, it’s generally too late to ride the bandwagon with BTC (unless you have a lot of cash to burn with), as the trends will swing wildly from time to time and harder to predict than stocks (as that is based on economic and societal factors). Newer Crypto might be more affordable to start with, but has the same pros and cons as BTC. Monero might get a bump in the next few years, as there’s movement in the Deep/Dark Web for its use (but that’s no guarantee).

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I can’t see Bitcoin dropping under 30k at this point which makes it a rich man’s crypto.

Ethereum is probably the one I am going to invest in because the outlook for it is promising.

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ETH is a “safe” option. So it’s a good choice in the current environment.

I mean technically, that’s pretty much any Fiat currency. Except there you’re talking about international policy and conflict between centralized organizations, and basing the value of a currency on GDP & Market Confidence in addition to forcing other nations to utilize specific currencies to trade certain commodities.

Not to mention that there’s a scarcity quality to a fair amount of cryptocurrencies by design, in addition to crypto that is naturally lost through disasters, accidents, and deaths of people who took the keys to the grave…

With fiat however, they simply can just print more.

An evil invention was born, man discovered how to turn worthless paper into gold.

Though with crypto, it’s more like we discovered how to turn co2 emissions and burnt electricity into gold.

I mean, we could also go back to just trading in rare metals peer to peer, but then we’re back to testing the purity of metals, finding ways to secure those materials, etc. etc.

Dislosure: This is not investment advice, anything that you choose to do is at your own risk.

But personally, I think the real opportunity is going to be in the vilified privacy coins like Monero, DASH, Zcash, PVIX, GRIN, or the longshot underdog (if it’s not just a scam) Raptoreum

Bitcoin and those based on it like Ethereum have proven that decentralized currencies could be a viable future, but they leave something to be desired for the people, but what is loved by governments. Traceability.

Sure, you can launder through coin mixer services, but there’s always a visible paper trail with most cryptocurrencies. Everyone knows how much every wallet has, and what money goes where.

That’s fine if the account isn’t tied to you through associated wallets to your name or handles, but it really is a problem if the government takes issue with you.

After all, the taxman wants their cut now.

If you’re in the US, you may have noticed that the IRS had asked you on the 1040 if you possess crypto or not. It’s a legal trap if you’ve ever given your full identity to any place and actively traded, such as Coinbase, any other american company, or probably any other organization that gathers KYC (Know Your Customer) information.

Legally speaking, they’re in the right, but it’s really the government’s way of trying to take hold of something that can’t really be controlled to the extent they wish.

For example, a man in Germany. 68 Million sized by police (at the time. Now worth well over 100 million), but they can’t get to it as they don’t have the password & he has never capitulated into giving up the password.

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What do you think of TRON? A friend of mine told me to invest in it. I know nothing about crypto and he is not an expert. I think he just wants to be part of the trend lol

When did they start this? I did notice it was a question this year but I didn’t see anything or the sort prior to this. Maybe I just wasn’t paying attention. I think most of the time these kinds of questions pertain to stocks and not crypto or am I misunderstanding things? I still don’t know how to properly file my taxes and rely on services to help me so that could be where I am at fault on this.