Anyone invest in crypto currency?

A few years ago, I bought 1 bitcoin for $800. A few weeks later I read that LTC was going to sky rocket and ended up trading my BTC for LTC (doh!). I still have them on hand and will sit on them for a few years I suppose. I recently saw BTC is now around $2500. Any of you holding onto or actively purchasing any crypto currencies?

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Comments

TechGromit

Hell, I remember when bit coins were $5, I thought it was a fad that would die out in short order. They were harping on second life too at the time, saying it was the next big thing, with companies setting up virtual offices online, how future business will be conducted in the virtual world. Second life really never went anywhere.

TheFORCE

I mined for bitcoin but then stopped after a week or so. Having to keep your PC on 24/7 was not looking good for me especially since i had the pc in my room. I think I still have my wallet and have like 0.00001543 bitcoin lol.

hurricane1091

Thought bitcoin was stupid. Knew about it when it was extremely cheap. Thought it would die at $100. Laughed when it got to $500. Can't believe it is $2700 now. Waited too long to get in on Ethereumm so overnight millionaire will never happen, but not making the same mistake twice.

p@r0tuXus

Missed the train on both Bitcoin and Ethereum, but it's not too late to jump onto Ripple.

MontagueVandervort

So can you really sell these things for $2,783.97 a piece now? Am I understanding this right? Because they used to be worthless lulz.

gespenstern

Mined a little for lolz like 7 or so years ago... I guess I should have this wallet somewhere, no idea how many bitcoins did I mine, suppose not that many

But yeah it freaks me out, why on Earth this useless crap with zero ties to reality costs tangible monies. Beyond me...

sillymcnasty

My coworker got bitcoin at 1100. And he said his Ether is up 1200%. That jerk.

Blade3D

I mined bitcoin back when it was $8 or so, got like a bitcoin or a bit more that way. Now looking back I should have kept at it and just held on. I just didn't have the money to actually buy any back in 2011 or whenever it was. I was buying etherum about a year ago around $10 each, then sold around Christmas cause I needed the money, obviously a big mistake considering it's around $170 or so. Also, started buying bitcoin again around $400 a year ago, and did the same. I think once I get a different higher paying job I'll start investing about 3% of my gross pay into etherum and bitcoin, I'm doing about 1% right now which isn't much.

Oregon Jobs

I know a few are interested in it, I think at the rate it is right now it would cost more electricity wise for me to do it at home then what I would "mine"

TheFORCE

Oregon Jobs wrote: »

I know a few are interested in it, I think at the rate it is right now it would cost more electricity wise for me to do it at home then what I would "mine"

Thats why i stopped.

Cardboard

I've been watching bitcoin and several alt coins for years. Last December, I sold my 0.25 btc on a reputable exchange, because the price had risen to nearly $800, and I thought it was unlikely to rise much more. So with a couple hundred in my trading account, I looked at their listing for Ethereum, which was $8 to $9 at the time. I didn't buy it, thinking "nah, I don't know much about ethereum, and what if it never rises". Over the next couple months, bitcoin rose to 1200, and ethereum went to the mid 50s. I didn't buy, thinking it was topped out now, and what were the chances it would go up a lot more. Then bitcoin went to 1500, and ethereum to the 80s, and I didn't buy, thinking NOW it is topped out and won't rise much more. Then bitcoin went to 1800 and ethereum to 130, and I didn't buy, thinking that now it was REALLY topped out and couldn't rise much more. Then bitcoin popped over 2000, and ethereum was at 166, and I thought DAMMIT, I AM GETTING IN, I can't stand to not be in this!!! I had $700 in my account after having added cash months ago, so I bought several ethereums. Over the next week, I watched the price rise and fall, and I got out when bitcoin started dropping off and prices seemed more volatile. I made a tiny $11 profit. Oh well, better than a loss, right? I was watching ethereum prices closely last night, went to bed, and didn't ake up until 830. At 630 this morning, when I usually would have been up, ethereum dipped to 120, then rose back to 150 at 830. F@$K my life........

infoscrub

I've been dollar cost averaging into bitcoin and Ethereum. I'm surprised more people aren't doing similar strategies.

I don't have the time or guts to drop a couple grand into it, watch it like a hawk then sell as soon as it peaks. I do have faith that the price will continue to climb. I don't have the big cashouts to brag about but I've been putting the cost of lunch in every week and I seem to have about twice that amount sitting in a wallet.

hurricane1091

I bought into ethereum recently and I hope it can produce a 20 percent down payment on a house in a year or two. It has very sound logic behind it. Learn from bitcoin, these digital currencies do nothing but go up. Some are useless copycats but some like Mysterium offer an actual service and are worth researching.

jelevated

No one except early believes could've expected the gains that we see today. Stories are abound, of course your famous 10,000 BTC pizza (which in todays dollars would be 23 million USD), a lot of us used BTC for quite silly things before last week. but a wild chain of events lead to the skyrocketing BTC price we have today. It is mind bending to think people are buying cars, houses and cashing out with BTC but its true. Is it too late to invest? Nah, not if you believe the ideology that BTC (and most other alt coins) really are not pegged to anything, so they can be worthless or worth millions each.

DatabaseHead

I'm looking into it now, some of you have me convinced.

NetworkNewb

Alright you guys got me interested. Just bought a couple Ethereum. You guys are a bad influence...

TheFORCE

I bet all this crypto currency is heavily manipulated through the usage of ransomware. No wonder they go up. Easy money for the hackers, they buy crypto currency when is cheap, then release a ransomware that is only payable via crypto currency. People want their files back so they go and by crypto, making the currency seem valuable. Then they sell the crypto and make money even if no money was made through the ransomware itself. They made the money in the crypto exchanges

NetworkNewb

That is true and a good point ^ forces a lot people to buy these currencies even when they had zero plans to. At the least the ones who don't back up their sh*t, which is a lot.

the_Grinch

I wouldn't say I invest in it, but I keep it in mind. Currently looking at Waves as that seems to me where the next "big" thing in cryptocurrency will be.

TheFORCE

Made a quick 1k with Nvidia, pulling me hair now and asking why i sold it at $118, is trading now at 144.

NetworkNewb

LOL, I hate/love watching the stocks

Krusader

There's a new coin launching next month.
It could be as big as Ethereum
https://www.tezos.com/

GeekyChick

This is a great thread. Does anyone worry about theft? I would love to buy some cryptocurrency but I worry about it getting hacked and stolen. I mean there is always risk with anything but it seems like this is more at risk since it's anonymous and digital.

p@r0tuXus

Not all cryptos are anonymous, some are better than others. You can also back your wallet up onto a hardware "wallet" or use a "paper" wallet. Some of the most exciting changes in Cryptos appear to be platforms for processing payments and transferring Bitcoin. There's been a bit of news as of late about BTC due to it's speed (slow) and ways to improve it which are being implemented. Not everyone's happy with it, but convenience has it's allure.

GeekyChick

p@r0TuXus, it's really interesting for sure I just don't know if I have the stomach for investing much $ into it yet. I could see it if I wanted to just take my chances and make a quick buck but there's sure a lot of risk involved. As for the technology, I think it's fascinating and the way I see our currency heading.

p@r0tuXus

I can't claim to be a guru with cryptocurrency but as a guy who passed on $7500 worth of bitcoin when it was at $2.50 a coin, I'm not ignoring it ever again. I didn't pay attention to any other coins until I heard about Ethereum. Missed that train too, when it was at $17 a coin. I started hitting youtube and different forums on these subjects within the last couple of months. Again, no guru, but I'm investing in Ripple. The technology is there, the leadership is experienced, the capital is there, the banks are signing onto it, and unless there's a huge banking crisis that ends all banking, it'll stick around and continue to be used unless a better competitor appears. The platform is moving towards decentralization and expansion of nodes quicker than any platform I've found and the price right now is at ~$.22 a coin. There are plans on the books to release the full number of coins by 2023. With what the coins are at now, judging by some of the trades you can see happening, if the coins ever hit $1,000 a coin so many people would make good money. If banks adopt it as the primary mode of transacting payments (within only seconds! vs. bitcoin or traditional banking methods), then consider a market cap equivalent to current global banking transactions. $1,000 a coin doesn't sound outlandish. Maybe within 10-15 years one could have tens of millions by investing today. Or it could go bust and you'd lose everything. I can spare the $1,000 today to find out.

hurricane1091

I do not like Ripple because of the shear amount of coins. Ethereum is at $230 with 90 million in circulation. Doesn't ripple already have 1 billion out there? Scratch that, 38 billion it seems. Not an expert but I don't see it rising to a buck and passing Bitcoin market cap any time soon. It could never reach even ethereum levels really.

BAT ico sold out in seconds. Whales gobbled them up. I don't think BAT will work anyway. It's too volatile and now the market is ruined with less than 200 people owning everything.

Tezos looks very good though.

NetworkNewb

Curious which do you like more p@r0tuXus. Ethereum or Ripple? I've just started looking into these this week, so I litterally barely know anything. But looks like the adoption and use of Ethereum, not to mention all the backers of of it, is so much greater and will just continue to grow. And Ripple is very far away from doing anything...

hurricane1091

Talk me into ripple. Part of me says no way it goes to $10 and passes Bitcoin in market cap but I keep reading stuff today and it might be worth a few eth

p@r0tuXus

Had a book going so I had to condense. Again, not a guru, simply a spectator at best.I know not all will agree with me so please feel free to discourse but let’s keep it objective and this is not an attempt to change anyone’s mind or get anyone to buy anything.Okay…*take’s breath*

According to http://coinmarketcap.com/Ripple is currently the #3 crypto currency in Market Cap with 20% of the cap Bitcoin has, and just under half the cap of Ethereum.Even though the total # of ripple is $100 billion, right now only 38 billion are in circulation, 6.46 billion are held by Ripple, and 55 billion are in escrow with a steady planned schedule to release 1 billion every month for 55 months starting after the end of this year.The coin is “currency agnostic,” as institutions, organizations, businesses and individuals buy ripple to trade those currencies around the world for fractions of the cost of traditional methods in only seconds, much faster than BTC and even faster than ethereum, https://ripple.com/xrp/ .While the nodes processing these are growing, the validator nodes will be secured and the company is moving the platform to be decentralized.There are all ready banks implementing it in 116 countries with 15 of the worlds’ top 50 banks.It integrates easily across institutions and liquidity providers, making money easier to get access to which has the potential to grow economy quickly.With almost $200 trillion worth of currency world-wide and a lot of other currencies inflating by rampant money printing and central-bank hyper-inflation, I can see institutions banding together under a decentralized platform that exchanges currencies anywhere without delay.Add on top of that the 1.2 quadrillion dollars in derivatives and the financial institutions around the world need a way out of eminent collapse and what easier way than digital currencies which they’re already invested in and can ensure have the safety and integrity to accommodate the convenience that will be required to promote acceptance and usage?When a country like India, with over a billion people, can go cashless overnight, the banks will look to make money off quick and cheap transactions.When that can be done world-wide and those banks that have all that currency (crypto coin) handle trillions of transactions daily (or even more, possibly), then the market cap of a crypto with 100,000,000,000 in supply could certainly reach great heights.How much?I have no idea.But at 20 cents, give or take, per coin right now?I can afford $1,000 to find out.