# Crypto experts on board?



## Jim (Nov 5, 2021)

Do any of you dabble in crypto investing? It’s peaking my interest but I hardly know anything. 


Sent from my iPhone using Tapatalk


----------



## LDUBS (Nov 5, 2021)

I understand crypto as a medium of exchange and kinda sorta understand how the block chain works. I've tried, but really still can't fully grasp investing in cryptocurrency. To the extent it is like FX trading or trading in commodities, it is far outside my personal investment philosophy. This emoji coin/token investing seems to be based on nothing more than emotion. 

Having said that, Mrs Ldubs and most of our extended family are dabbling in shiba inu (ShibUSD). Of course, no one put in more than they are willing to lose. If it ever hits a penny, we will all be multi-millionaires. Not holding my breath.


----------



## obietobler83 (Nov 2, 2022)

Definitely worth doing a trade. After all, it guarantees a high income. Even those who do not have much interest in financial markets know that cryptocurrency trading is a very profitable activity


----------



## MrGiggles (Nov 2, 2022)

Like anything, diversify and common sense. Don't stick your whole portfolio in whatever the new hot coin is.

My biggest reservation is that you aren't really buying anything tangible. Since most of those are not really all that useful as a currency, it's only worth what someone is willing to pay for it, which can change like the weather. But regardless, I think the older more established coins are pretty solid long term investments.


----------



## obietobler83 (Nov 3, 2022)

Most people, of course, are interested in cryptocurrencies only in terms of potential earnings. And periodically popping up news about how someone got rich on electronic money only fuels interest in this topic. But it's important to understand that there is no way to make "easy" money here. Undoubtedly, the electronic money market is potentially the most profitable, but there is a chance that you will lose everything, too. I started with platform mt4, it's a platform for forex and investment analysis. It's 50% success if you master the charts, trends and futures indicators. Further it will be easier, but you need to understand in what positions is bitcoin to invest or sell it.


----------



## Stand Up (Nov 4, 2022)




----------



## lckstckn2smknbrls (Nov 4, 2022)

Bring back wooden nickels!


----------



## Stand Up (Nov 4, 2022)

I stole this from the IG site. I'm not linking it. Just look it up and educate yourself.
IG.com Then click on the tab, "learn to trade". This may answer some of your questions.
I'm a lame brain so I always thought trading crypto would be difficult. 
Has anyone ever got into this market?

Cryptocurrency trading is *the act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange*.
Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.


----------



## LDUBS (Nov 4, 2022)

Stand Up said:


> I stole this from the IG site. I'm not linking it. Just look it up and educate yourself.
> IG.com Then click on the tab, "learn to trade". This may answer some of your questions.
> I'm a lame brain so I always thought trading crypto would be difficult.
> Has anyone ever got into this market?
> ...



We are in it for a small amount just to kind of test the waters. Right now the account is down about 80%.


----------



## Stand Up (Nov 4, 2022)

LDUBS said:


> We are in it for a small amount just to kind of test the waters. Right now the account is down about 80%.


I am interested in this. Please keep us informed on your venture. I'm going to read and learn more about this style of investing.


----------



## LDUBS (Nov 5, 2022)

Stand Up said:


> I am interested in this. Please keep us informed on your venture. I'm going to read and learn more about this style of investing.



Like I said in post #2 this stuff is far outside my investment philosophy. I personally am not into short term high risk gambles. I consider this more like entertainment similar to laying dollars on the line in Las Vegas. I would not put any real money into this. We will hold this account just to see what happens. I don't intend to do any more trading in cryptocurrency. I guess I'm trying to say I'm not the guy to look for any kind of advice.


----------



## Lost But Happy (Nov 6, 2022)

MrGiggles said:


> Like anything, diversify and common sense. Don't stick your whole portfolio in whatever the new hot coin is.
> 
> My biggest reservation is that you aren't really buying anything tangible. Since most of those are not really all that useful as a currency, it's only worth what someone is willing to pay for it, which can change like the weather. But regardless, I think the older more established coins are pretty solid long term investments.



Well put @MrGiggles


----------



## ChristopherMurrayq (Jan 4, 2023)

I'm not a crypto expert, but I do have some experience with investing in cryptocurrencies. I've been following the market for a while now and have found that it can be quite volatile, so it's definitely not for everyone. However, I do believe that there are good opportunities to be had in the crypto market if you know what you're doing.
I personally prefer to diversify my investments, so I have some money in mutual bonds and real estate, but I also have a small portion of my portfolio invested in crypto. I've found that using services like moonbitcoins.com to mine bitcoins can be a good way to get started with crypto investing without having to put in a lot of money upfront.
Of course, it's important to do your research and understand the risks before investing in any type of asset.


----------



## Stand Up (Jan 5, 2023)

The trick to Crypto is knowing when to throw your money down and when to withdraw it. If you put say 10,000.00 down on any particular coin on Nov. 5th of 2022, you're probably still waiting for a return and will be for quite some time. However if you put your money down Nov. 20th of 2022 on a stable coin you probably have made a bit and pulled it out to invest again, keeping the profit. At one time Crypto was probably a good "investment" but now it's a gambling table. If you use enough money and trade it often it can work for you. But on the other hand, you could be losing a lot and have to wait and hope it rebounds. Good luck. Because luck is what's involved.


----------



## overboard (Jan 5, 2023)

Jim, I hate to tell you this, but you missed THE BIG MOVE! 
Bitcoin apparently started at .0008c a share and went to over 60K a share and is now down to under 20K a share, 
Personally, I wouldn't touch it with a 100' pole and good luck to anyone who dabbles in it!
I realize this is an old post, but I am not a fan of crypto at all, like a chain letter, those that got in on the ground floor made a ton of money, those at the peak are now losing their ars!


----------



## LDUBS (Jan 5, 2023)

Stand Up said:


> I am interested in this. Please keep us informed on your venture. I'm going to read and learn more about this style of investing.



As of today, down 83% over about 12 months. Well, we rolled the dice and came up craps. I'll stick to the market.


----------



## Kismet (Jan 8, 2023)

I'm old, so I look askance at new wonders.

I also am very leery of a new member with 2 posts, posting from New York, making any kind of recommendation about investments of any sort.

Bu that's just me.


----------



## LDUBS (Jan 8, 2023)

Kismet said:


> I'm old, so I look askance at new wonders.
> 
> I also am very leery of a new member with 2 posts, posting from New York, making any kind of recommendation about investments of any sort.
> 
> Bu that's just me.



I think that probably making risky investment decisions on advice from a forum is in general not the best idea.


----------

