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#3
12-12-2017, 11:44 AM
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Definitely volatile, like gambling.
My son got into Ethereum at the beginning and turned $2000 into $94,000 in 2 years. Cashed out $75k and left the balance ride. He has a little Bitcoin also. I asked him to get me $1000 of Ether next time he made a purchase. That's now up to $2300 in about 6 mths. It's fun, but don't invest if you can't afford to lose. You have to pay tax on the gain after you convert back to $USD. If you never cash-out then I assume your gain remains untaxable. Good luck IRS... Last edited by JonWint; 12-12-2017 at 08:06 PM. 
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#4
12-12-2017, 01:50 PM
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While I completely agree, I'd like to point out the US dollar (as well as most all world currencies) are ALSO backed by nothing but hype... They're all fiat currency! The argument becomes how much "hype" is behind it.
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#5
12-12-2017, 02:00 PM
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Crypto currency looks to me like an investment in smoke and mirrors.
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amyFb Huss & Dalton CM McKnight MacNaught Breedlove Custom 000 Albert & Mueller S Martin LXE Voyage-Air VM04 Eastman AR605CE
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#6
12-12-2017, 02:09 PM
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Good on the gutsy ones that have profited, but it's highly speculative, and volatile, and attracts too much of this for me:
Attachment 3981
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Best regards, Andre Golf is pretty simple. It's just not that easy. - Paul Azinger "It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so." – Mark Twain http://www.youtube.com/user/Gitfiddlemann Last edited by Gitfiddlemann; 07-07-2022 at 11:17 AM.
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#7
12-12-2017, 03:21 PM
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Oh yeah pretty much ever since the USD strayed from the silver standard. But at least the dollar is an accepted currency and it’s still backed by the good faith and economy of the good ol’ US of A...whatever that means. Crypto currency is still nothing but hot air, you can buy next to nothing with it.
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#8
12-12-2017, 04:02 PM
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Seems to be following the classic bubble pattern
 I've been reading stories about people taking out mortgages and maxing out credit cards to buy into the market! Classic mania. I'll stay on the sidelines, thank you.
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#9
12-12-2017, 05:10 PM
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I've been a bull at cryptocurrencies for a while although years ago I was very bearish. I read up on blockchain tech and I'm convinced it will boom in the next few years. I got in on them about 7 months ago because I didn't have that much free money until that time.
Yes, they're definitely in a bubble. However, with all the mainstream attention it's getting, I think it goes on for quite a while... probably months. I'm about to quadruple my total investment (I invested incrementally else I'd have more than that now.) When I do (should be within a month), I'm cashing out half, so I have double of my investment secured and I'm riding the rest. Yes, the bubble will burst eventually, but blockchain is definitely worthwhile and will grow in use in the next few years. When it bursts, it will eventually go to its actual value and then go up from there. I think it's good long term if you're brave.
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Guild CO-2 Guild JF30-12 Guild D55 Goodall Grand Concert Cutaway Walnut/Italian Spruce Santa Cruz Brazilian VJ Taylor 8 String Baritone Blueberry - Grand Concert Magnum Opus J450 Eastman AJ815 Parker PA-24 Babicz Jumbo Identity Walden G730 Silvercreek T170 Charvell 150 SC Takimine G406s Last edited by robj144; 12-12-2017 at 05:39 PM.
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#10
12-12-2017, 07:47 PM
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...........
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Unimogbert Last edited by unimogbert; 03-07-2023 at 09:28 PM.
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#11
12-12-2017, 08:29 PM
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Anyone know how many Pikachus equal a bitcoin?
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Je n'avais pas besoin de cette hypothèse-là.
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#12
12-13-2017, 05:34 AM
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I don't see the power base losing total control of currency anytime soon, so I expect the bubble to not only burst, but be scrambled.
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#13
12-13-2017, 07:18 AM
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I think this is a huge Ponzi scheme and lots of people are going to get hurt when it breaks. I came to this conclusion when I heard the "home base" so to say was located in eastern europe. Thats got to tell you something right there. even the stock market scares me. To quote Jerry Garcia; "When life looks like easy street there is danger at the door".
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Free speech...its' not for everybody 
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#14
12-13-2017, 07:19 AM
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#15
12-13-2017, 10:59 AM
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Exactly. It shows all the red flags of a Ponzi scheme. Very little info about exactly what you’re investing in, too good to be true returns, act fast or you will miss the boat.
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