Crypto Currencies

[dieselpower]

What does everybody reckon to the craze for trading in crypto currencies?

[jackflash]

Big unregulated bubble.

[tomhorn]

It's all about the speculators now. It will remain volatile for the foreseeable future. Not sure if it's passed by the time where significant gains could still be made. It's a big risk whether you are buying or trying to short it (yes there are ways to speculate without even owning any now). Sort of reminds me of how the financial crisis started, with financial institutions creating investment products out of thin air (naked CDS's for example).

 

The technology is disruptive and has other uses besides "currency", but I don't hold much long-term hope for wide-spread adoption (as in widespread use of the crypto currency to pay for things directly). The reality is that governments will not allow the usurping of their fiat currencies for much longer. Some have already started regulating or banning them altogether. Even had one country come up with a pseudo version of its own. What could happen is that a country or two whose currency is basically worthless outside its borders (Venezuela, North Korea) might embrace it and provide payment processing infrastructure, but then you'd still be at the mercy of your local government declaring it illegal to buy/sell goods with it.

 

I personally started buying NVDA awhile back because their cards are used for mining (and also for autonomous car technology). Although not as big a home run as the early buyers or miners are seeing (bought at an average of around $28 and now it's hovering around $200), it's been profitable and significantly safer.

 

Unfortunately now, the craziest speculation I have seen is for BitCoin to get to $100k USD at some point. Well, that's less than a 10x return at today's prices, best case. I'm almost there with NVDA, and they are an actual company with products to sell with $6 billion in cash on the books.

[XM195]

Well I think that bitcoin is a bubble which will collapse eventually. Sooner or later. I'd never invest in something that loses 20% and gains 25% within a day... or even worse.

[Nanuq]

NVDA, SQ and other brick and mortar businesses that make it possible to trade in Bitcoin, without actually touching them. That's my safe bet.

[Raxford]

I decided I'd put money into ripple as it's projected to be the next big one.

For me I think, "what would be the max amount I'd be willing to never see again. "

I think I'm at $300. If I lose that, I'd be mad but I'd forget it. So worst case I'm mad for a bit, best case it's the next Bitcoin.

[highoeyazmuhudee]

I bought bitcoin back in 2013 when it was 3 digits, sold it a year later making a 400% return. It's now too expensive for the average person to buy into. I think it'll recede to around $10k then rise again. I have bought into alt coins, as some are actually technically more robust than bitcoin with more of a future. Bitcoin right now is all speculation and marketing from people with vested interests. Here are some alt coins to consider that are cheap and can net you double your investment short term. The following I bought when they were half the price they currently are:

ripple xpr
gas
cardano ada
neo ans
eos
monero xmr
ethereum eth
lightcoin ltc

Edited December 19, 2017 by highoeyazmuhudee

[altesporsche]

I don't use it as a main investment, but I do dabble with it and bought into litecoin and ripple in the last few months. its been doing well, but its for a quick grab only, this will not last.  I bought $15k worth of bitcoin back when it was a little above $850 and sold it all off two days ago, simply because its scary at this point especially when its been from $16k to $19k and back a few times in the last few days.  Ripple (xrp) will make you some money if you have not already bought it, but again its risky and you have to dump it quickly, don't hold on to it.  I suspect it will go well above a dollar each and part of me sees it around $20 or if we are lucky to where litecoin has gone in the $300 range lol but who knows.   tread lightly and only put in what you can afford to lose and not hurt other investments.

[bloon]

Wow... did you make enough to have a year holdiay @altesporcshe

 

[altesporsche]

1 hour ago, bloon said:

Wow... did you make enough to have a year holdiay @altesporcshe

 

lol I wish I could take a year off, I only work 6 months of the year anyways.  Need to keep slugging along until I can give up this offshore drilling racket lol

[JoeD]

It's too easy to fund terrorism and transfer money from drug smuggling with bitcoin.

It's adoption would also make it impossible for governments to conduct monetary policy or monetize their debt.

It could also threaten the US dollar's standard as the world's reserve currency.

 

At some point the US government will kill Bitcoin....again.

 

 

[mabmojo]

Like Chamath Palihapitiya says, "It's irrelevant what the American regulators do. Its the poorest nations with no access to banking and exchange of money that is where the impact and the grown is going to be"   

 

It's too easy to fund terrorism and transfer money from drug smuggling with bitcoin. 

This is complete rhetoric.