Crypto Holders and any interest in using as payment for a guitar

[rokdog49]

Originally Posted by robj144

There is a 99.9% chance they will be ubiquitous in a few years. Research it a bit.

They may be, so are a lot of other speculative/borderline things that aren’t mainstream. They’re just around everywhere.
Anyway, go for it, I’m too old and traditional.

[Kerbie]

Originally Posted by rokdog49

I stand corrected by... my wife, the bean-counter extraordinaire.

Lol... good to be married to the BCE. You better hold on to her!

[rokdog49]

Originally Posted by Kerbie

Lol... good to be married to the BCE. You better hold on to her!

She’s done well for us. 46 years of wedded bliss.

[David Eastwood]

Originally Posted by Kerbie

Lol... good to be married to the BCE. You better hold on to her!

I call my equivalent of 36 years the CFO

I just don’t get crypto. I’m not a stupid person - I’m a Physics major, which must mean something - but I just don’t understand it, however much I read explanations. Here’s a definition from NerdWallet:

“Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.”

I simply do not understand what that all means.

Tulips, folks, tulips.

[Kerbie]

Investments are funny things. And sometimes folks can be emotionally attached. So, invest in whatever you're comfortable with. That'll be different investments for different folks. Crypto ain't for everybody, but neither is real estate or stocks.

[robj144]

Originally Posted by David Eastwood

I call my equivalent of 36 years the CFO

I just don’t get crypto. I’m not a stupid person - I’m a Physics major, which must mean something - but I just don’t understand it, however much I read explanations. Here’s a definition from NerdWallet:

“Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.

Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.”

I simply do not understand what that all means.

Tulips, folks, tulips.

Same major, and I've been researching this stuff for almost 5 years now. It is not tulips.

But do what you want... if you want to miss a chance.

[AmericanEagle]

I invested $1,000 buying Litecoin and Bitcoin.
The value is now at $3,000.
Nice $2,000 profit!

[rokdog49]

Originally Posted by AmericanEagle

I invested $1,000 buying Litecoin and Bitcoin.
The value is now at $3,000.
Nice $2,000 profit!

Not until you cash it in and spend it tho’
Right now it’s just a number.

[RP]

Originally Posted by rokdog49

Not until you cash it in and spend it tho’
Right now it’s just a number.

That's my understanding. Until you actually get spendable currency "in hand", isn't it just like a profit made for owning Boardwalk and Park Place with hotels built on them???

[JonWint]

For those who may be crypto-phobic, don't worry it might be a passing fad. Oh wait, looks like Bitcoin's capitalization is over a $trillion. That means there are only about 4 US companies with higher capitalizations. Etherium cap is over $400 billion.

You don't have to understand from where crypto derives its value. Just study the price history. My small holding of ETH has increased 450% in 3 years. It's play money. Don't invest more than you can tolerate losing.

My younger son got into Ether during crowd funding before initial coin offering (ICO). Price per coin was $1 or $2. Now at $3566 this minute.

The smart kid we raised made withdrawals whenever the account value approached a significant percentage of his net worth. Paid the tax and bought a pair of new duplex houses (in rental) with some proceeds. Much more is invested in a stock fund.

It's real whether you understand or not.

[robj144]

Originally Posted by RP

That's my understanding. Until you actually get spendable currency "in hand", isn't it just like a profit made for owning Boardwalk and Park Place with hotels built on them???

You can keep going and say the same about fiat currency. If inflation increases a lot, does that $100 in your banking account have the same buying power down the road?

Economics is a man made construct to make trade easier. Nothing about it is concrete.

[RP]

Originally Posted by robj144

...Economics is a man made construct to make trade easier. Nothing about it is concrete.

I agree with the first statement but not the second. US currency has had since the Coinage Act of 1792 to gain virtually universal acceptance as a medium of exchange. Let's have this same discussion about cryptocurrency in 229 years...

[robj144]

Originally Posted by RP

I agree with the first statement but not the second. US currency has had since the Coinage Act of 1792 to gain virtually universal acceptance as a medium of exchange. Let's have this same discussion about cryptocurrency in 229 years...

We won't which is the point of crypto.

You can choose not to particpate in crypto. I get it. It's a new, foreign concept for most. But, it's not going away and it's not a fad.