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Thread: Cryptocurrencies

  1. #1
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    Cryptocurrencies

    Hi folks,

    I've been thinking about cryptocurrencies lately and whether I should participate in that. There's so much news about the controversial Libra (if it's released), the already existing Bitcoin and all the emerging currencies.

    I was wondering, do you believe cryptocurrencies have a future and is it something worth investing in?

  2. #2
    Platinum Member Wiseman2's Avatar
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    I like Monopoly money. You can't go wrong with that. 💴💸💷💶💵💰

  3. #3
    Platinum Member Carus's Avatar
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    Originally Posted by greendots
    I was wondering, do you believe cryptocurrencies have a future and is it something worth investing in?
    Yes I do and yes I do.

    Iíve studied the corrupt and mathematically flawed fiat currency system for close to 20 years. Some countries are now starting to feel the effects of that.

    When I first started down that rabbit hole my thought was ďOk so fiat is mathematically flawed but what will replace it?Ē.....Then a year after the GFC in 2008, Bitcoin came into existence....

    I used to give lectures about it but donít have time right now to type out a 10 page essay with one finger on my phone...so Iíll just say a couple of things.

    Firstly, my favourite YouTubers on the subject are The Modern Investor and Crypto Lark.

    Iím not trading crypto as thatís a road to ruin but I am accumulating and holding it for the long term.

    You can already buy things and pay bills directly with crypto. You can also convert it back to fiat if you need to.

    Crypto is in its infancy, kinda like the internet in the early nineties. Not really user friendly.....yet.

    Wherever there is profit there is crime. Watch out for crypto Ďinvestmentí programs. Just buy it and store it in your own digital wallet. Donít keep it on an exchange.

    Donít borrow money to invest.
    Donít invest what you canít afford to lose.

    Noone knows the future but crypto is here to stay and there is a LOT of infrastructure going on in the background despite the mainstream media keeping everyone nicely distracted whilst the big players position themselves....Banks and governments are all getting involved whilst we watch the football, the Bachelor and My Kitchen Rules et al....(I donít actually own a TV or read Ďnewsí papers by the way).

    I believe it is well worth investing SOME of your money into crypto as a hedge against the coming financial storm....2008 is going to look like a tea party*

    Have you seen what the price of gold has done over the last 20 years?

    Just sayiní.....

    Carus*

    PS: Thanks Greendots for all your great work in this forum*
    Last edited by Carus; 09-15-2019 at 02:14 AM.

  4. #4
    Platinum Member Carus's Avatar
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    I also need to say, this is strictly my own opinion. NOT financial advice*

    Carus*

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  6. #5
    Platinum Member melancholy123's Avatar
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    My son has Bitcoin and is hanging onto it, so far it's going up. He weathered the drop and hung in there and it's been worth it to him. We both have Ethereum which is going up and we have FunFair which was not such a good investment.

    Nobody knows what will happen with Bitcoin, so dont buy more than you can realistically afford. Hang on to it, dont trade it around trying to make a profit. Be patient.

  7. #6
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    Carus, thank you for sharing so much information! I have flagged those youtubers as I definitely want to check them out later. Even China has shown interest in digital currency plans. So, I'm certainly interested in learning about this. Lots to learn!

    melancholy123, thanks for sharing your experience! I need to learn so much on this stuff.

    Wiseman - Hehe, you make me laugh.

  8. #7
    Platinum Member melancholy123's Avatar
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    I really dont know much about crypto, my son has a good grasp on it, so he fills me in. If you want to buy some, figure out what you think would work for you, and buy just a small amount, dont sink your savings into it. Watch and observe what happens to it!


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