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Anybody into buying cryptos?

C

carbonpoke

Well-known member
I've been buying like crazy, well crazy for me. I'm trying to get as much cardano as I can. Crypto markets and the tech knowledge learning curve is pretty insane, but fun at the same time.
 
carbonpoke said:
I've been buying like crazy, well crazy for me. I'm trying to get as much cardano as I can. Crypto markets and the tech knowledge learning curve is pretty insane, but fun at the same time.
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I have Cardano because of the Wyoming connection (really hope they didn't sell right away when they were gifted $500k last year - it's up at least 15x since then), and then a bit of ALGO as well.
 
I picked up $50 worth of Ether 5 or 6 years ago. That $50 was up over $1000 before Elon Musk hosted SNL. Has settled in around $550. I'm pretty happy with that rate of return.

The market is so damn volatile that trading in it can be a pretty boom/bust proposition. I'm treating it like a long term investment rather than day trading.
 
WYO1016 said:
I picked up $50 worth of Ether 5 or 6 years ago. That $50 was up over $1000 before Elon Musk hosted SNL. Has settled in around $550. I'm pretty happy with that rate of return.

The market is so damn volatile that trading in it can be a pretty boom/bust proposition. I'm treating it like a long term investment rather than day trading.
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I only use Coinbase, so day trading isn't really possible because of the high transfer fees. It's part of why I tossed some money into ALGO - whether it goes up or down, at least the interest is built in, so I'll have more of it at the end of day. Not much more, but still. :)
 
I've been in ETH for quite a while, got into VET thanks to our buddy Wicks. Also have some DOGE because why the hell not.
 
I've managed in the past 2 months to get to 15000 shares of cardano, my hope is to get to 20000 shares by the end of August.

I had to work my ass off, 60 hours a week overtime out the ass to not leverage myself. I'll keep u guys up to date. Crypto is a crazy space, high risk. But the goal is to change the banking inflationary system into a deflationary system. Printing more money is not the answer. I highly recommend to anybody to watch anything Charles hoskinson or Caitlin Long YouTube videos. Is revolutionary tech... get into the new "internet on steriods" before it actually reach mass adoption.
 
carbonpoke said:
I've managed in the past 2 months to get to 15000 shares of cardano, my hope is to get to 20000 shares by the end of August.

I had to work my A$$ off, 60 hours a week overtime out the A$$ to not leverage myself. I'll keep u guys up to date. Crypto is a crazy space, high risk. But the goal is to change the banking inflationary system into a deflationary system. Printing more money is not the answer. I highly recommend to anybody to watch anything Charles hoskinson or Caitlin Long YouTube videos. Is revolutionary tech... get into the new "internet on steriods" before it actually reach mass adoption.
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It's been a little while, but... good work if you held. I was dumb and day traded for a while despite saying it wasn't worth it (it wasn't - I didn't gain any and I didn't lose anything, except time), and then when I got sick of it I didn't push my ADA holdings back up to where they were (different shitcoins that have essentially stayed completely level). I had less than $100 worth of ADA sitting around, and now I wish I'd gotten tired of trading when I had a lot more.

On the positive side, I never took out anything from my ALGO wallet, and that's climbed quite a bit too - just nowhere near as much as ADA.
 
I have an uphold account have a tiny bit of Bitcoin and ADA. Had some doge and one other for a while. I missed all the run ups and bought just as they all tanked. Good thing it was only play around money.
 
laxwyo said:
I have an uphold account have a tiny bit of Bitcoin and ADA. Had some doge and one other for a while. I missed all the run ups and bought just as they all tanked. Good thing it was only play around money.
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Wait... if you still have that Bitcoin and ADA, at least those are at all time highs now. ADA's flirting with $3.00 now.
 
Asmodeanreborn said:
laxwyo said:
I have an uphold account have a tiny bit of Bitcoin and ADA. Had some doge and one other for a while. I missed all the run ups and bought just as they all tanked. Good thing it was only play around money.
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Wait... if you still have that Bitcoin and ADA, at least those are at all time highs now. ADA's flirting with $3.00 now.
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I’m close to even now. I think I had bought Bitcoin at its peak
 
Cardano about to explode, I expect the governor to announce partnership today, making ada the forefront crypto in the battle with the fed and sec.
 
carbonpoke said:
Cardano about to explode, I expect the governor to announce partnership today, making ada the forefront crypto in the battle with the fed and sec.
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Our governor?
 
Who can give us (me) a solid synopsis / breakdown of crypto, how it works, how it is back, etc.? There is too much BS info on the web to dig though.
 
McPeachy said:
Who can give us (me) a solid synopsis / breakdown of crypto, how it works, how it is back, etc.? There is too much BS info on the web to dig though.
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You buy fake money with real money and hope the fake money gains value in terms of real money
 
LanderPoke said:
McPeachy said:
Who can give us (me) a solid synopsis / breakdown of crypto, how it works, how it is back, etc.? There is too much BS info on the web to dig though.
Click to expand...

You buy fake money with real money and hope the fake money gains value in terms of real money
Click to expand...

Seems right up my alley. Not really. Tax ramnifications?
 
McPeachy said:
LanderPoke said:
McPeachy said:
Who can give us (me) a solid synopsis / breakdown of crypto, how it works, how it is back, etc.? There is too much BS info on the web to dig though.
Click to expand...

You buy fake money with real money and hope the fake money gains value in terms of real money
Click to expand...

Seems right up my alley. Not really. Tax ramnifications?
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I think it's just like any other stock or bond, subject to capital gains.

I think it's all stupid. crypto currency doesn't have any intrinsic value. The only thing valuable about it is you can sell it for real money. What can you buy with your crypto? I guess you can buy drugs with it. Can't buy a Tesla with it.
 
LanderPoke said:
I think it's all stupid. crypto currency doesn't have any intrinsic value. The only thing valuable about it is you can sell it for real money. What can you buy with your crypto? I guess you can buy drugs with it. Can't buy a Tesla with it.
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Real money doesn't have any intrinsic value either... it's just an "agreed upon" method of exchange. As far as what you can buy, I bought furniture a few years ago from overstock.com with Bitcoin. Not sure if they still take it.

In a lot of ways, I do agree with you about it being stupid, though, especially the "mined" cryptos. At least ADA is based on something actually valuable and provides quite a few attractive features for developers. Other cryptos allow you to share network bandwidth or verify different types of transactions (including inside payment apps) for a minuscule return.

Overall - "don't gamble with money you can't afford to lose" still holds true.
 
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