My wife and I are going to invest into a little crypto currency and I’m looking for some real advice. New to it so I’m starting off at the very base level. I ordered a hard wallet for security and once that comes in I’m going to start investing. Fire me a PM so I can get a crypto for dummies course. Thanks.
Read Ben McKenzie’s book “Easy Money: Cryptocurrency, Casino Capitalism and the Golden Age of Fraud”
Now's probably the wrong time. Everyone wants to jump in after major gains like this, but it's usually too late. I personally would wait and see what happens.
Buying fake money with real money does not seem wise to me.
Backed by the full faith and credit of the United States of America.
I ordered a hard wallet for security and once that comes in I’m going to start investing.
A hard wallet is a good start. Whatever addresses you generate keep your keys and your seed words on paper, somewhere that they'll be protected against any reasonable risk like your house burns down. Not your keys not your crypto.
As far as what to get and how it is generally best to avoid the small caps and just buys a staples or two or three. BTC, ETH, SOL, XRP....that is probably the list. DOGE if you have a sense of humor and you are ready to sell if it moons when Musk mentions it again. The how would be to create an account at one of the more trustworthy exchanges like Coinbase or Crypto.com. Buy the above from them and send it off to your cold wallet address, then stop paying attention to prices for a while.
Backed by the full faith and credit of the United States of America.
You guys just don't have enough faith.
![[Linked Image from i.ibb.co]](https://i.ibb.co/gmV2TWy/GGdq-X36-Ws-AAQyk-M.jpg)
You might want to consider some of the recently offered ETFs offered by Blackrock, Fidelity, etc.
The European Central Bank just labeled bitcoin as “the long con” and called the newly issued ETFs as “the emperor’s new clothes “ with more dire warnings for the cryptocurrency in general.
Forbes, WSJ
I will NEVER touch any crypto currencies!
The ECB further said that without cash flow or other sources of income that the asset value is zero.
I am really trying to maintain position with moderate growth at this point, 62 years old. Today was a good day though being up $120K.
Out of curiosity, what happens to crypto when a cyber attack takes out the web for the long term?
Out of curiosity, what happens to crypto when a cyber attack takes out the web for the long term?
That might also take out access to bank accounts and credit. I don't know how all that works but I believe most money is just figures out in the internet somewhere being moved around.
Maybe we would be back to cash, metals, and barter. Not sure how that would work for paying things like taxes and utilities. Come to think of it, a cyber attack would shut down utilities would it not?
Cash is the ONLY currency a person should support. The government can shut down and track any type of electronic funds! If they don't want you buying guns, gas or food, all they have to do is to deny your card.
A cashless society means they have total control over you!
My wife and I are going to invest into a little crypto currency and I’m looking for some real advice. .
RUN, don't walk, away.....
Cash is the ONLY currency a person should support. The government can shut down and track any type of electronic funds! If they don't want you buying guns, gas or food, all they have to do is to deny your card.
A cashless society means they have total control over you!
This.
The government over-reach is way out of hand now. I cannot imagine what it will be if wewent digital currency accross the board.
Out of curiosity, what happens to crypto when a cyber attack takes out the web for the long term?
That might also take out access to bank accounts and credit. I don't know how all that works but I believe most money is just figures out in the internet somewhere being moved around.
Maybe we would be back to cash, metals, and barter. Not sure how that would work for paying things like taxes and utilities. Come to think of it, a cyber attack would shut down utilities would it not?
At least with a bank you can walk in the door and withdraw cash. Of course each bank has limited cash on hand and they can't handle a run.
It’s just dabbling, a few hundred dollars here and there in the crypto that hasn’t peaked out yet. Not Bitcoin as I hear that is George Soros baby. So, if it tanks totally no huge loss. Depending on what you read and what rabbit hole you go down you could be wiping your A$$ with the US fiat dollar soon enough. I also hold foreign currencies, gold, silver, a 401K, and a pension. Crypto was one thing I didn’t have yet and I wanted to give it a look.
Your future, your risk, your decision. The only sure thing about crypto is that a whole lot of people are going to learn a huge lesson.
Now's probably the wrong time. Everyone wants to jump in after major gains like this, but it's usually too late. I personally would wait and see what happens.
Don't say that, I thought it was high and won't go higher two years ago and i didn't invest. Now i regret it.
Market is way over valued! Gonna blow its guts out just any day now! Sic 'em boy!!
Market is way over valued!
Which one?
The only sure thing about crypto is that a whole lot of people are going to learn a huge lesson.
When?
Your future, your risk, your decision. The only sure thing about crypto is that a whole lot of people are going to learn a huge lesson.
I’m keeping the investment under $1k. I’ve pissed away more on a [bleep] fishing trip. Not the end of the world if it goes bust. It’s already made money in just a couple of days.
The Stock Market Crash of 1929 was proceeded by shoe shine boys giving out stock tips.
There are only a few that are 20022 compliant. I like XRP and XLM. Uphold.com is a site that I buy from and transfer to a Nano X wallet. You can learn a good bit on YouTube about crypto currency’s and cold wallets. I also invest in metals. As far as the dollar goes if they keep printing it and have nothing to back it I don’t see it staying the reserve currency. Just like President Trump said in 2017 we have to level the playing field around the world.
It's OK to start with thinking small, but if you really wanna do this it will help you to have some contacts with some major, or at least mid level players who occasionally need help.
Custom Underground and Dover Thyssen are two that come to mind, as examples
Think it through a bit and have your fee schedule and invoicing system set before you ever accept work.
Invest in some fire blanket and a hand pump water type extinguisher from the get go.
You simply cannot work for $50 or $80 per hour and make it come out.
Your future, your risk, your decision. The only sure thing about crypto is that a whole lot of people are going to learn a huge lesson.
And who’s going to be at the winning end when that happens.
There are only a few that are 20022 compliant. I like XRP and XLM. Uphold.com is a site that I buy from and transfer to a Nano X wallet. You can learn a good bit on YouTube about crypto currency’s and cold wallets. I also invest in metals. As far as the dollar goes if they keep printing it and have nothing to back it I don’t see it staying the reserve currency. Just like President Trump said in 2017 we have to level the playing field around the world.
I had seen something about uphold and coin base blanked out the other day. I have XRP XLM, and Stellar. I think that’s correct. My wife is the guru on it. She’s the numbers person. Anyone who can audit two tribal casinos on a daily basis gets the nod for the financial responsibilities. Agreed on the Trump comments. Also said something about a certain currency that our country holds a lot of.
Buy some Beanie Baby's instead, you won't get fuqked so hard.
Your future, your risk, your decision. The only sure thing about crypto is that a whole lot of people are going to learn a huge lesson.
Tulips I say. Tulips my lad. Look to investments that don’t tax your profits
My Son-I-L is a Managing Director and the CFO of an Investment/Wealth Management Company...
I asked him about Bitcoin and such, he said they have not considered it......
Neither have I.
Digital currency can be gone with the push of a button.
Who controls that button?
Buy Solana. I'm doing very well with it
Buy Solana. I'm doing very well with it
Cash out your 401K and borrow everything you can against your home and buy more. San Francisco has room for a couple more homeless.
An interesting article:
https://www.zerohedge.com/markets/m...mulated-over-3-billion-bitcoin-15-monthsNote that .gov is a huge holder of Bitcoin.
Posted just for interest....
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
In a Mad Max type of scenario, the lack of electricity?
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
In a Mad Max type of scenario, the lack of electricity?
That isn't a who but you did your best.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
In a Mad Max type of scenario, the lack of electricity?
That isn't a who but you did your best.
It was tongue in cheek . Sorry you didn;t get it.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
In a Mad Max type of scenario, the lack of electricity?
That isn't a who but you did your best.
It was tongue in cheek . Sorry you didn;t get it.
Ok.
It is difficult for me to tell sometimes because there are more than a few people here who imagine that the government would shut off electricity to stop Bitcoin transactions, while they smugly took their fiat down to Taco Bell to get a burrito.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
In a Mad Max type of scenario, the lack of electricity?
That isn't a who but you did your best.
It was tongue in cheek . Sorry you didn;t get it.
Ok.
It is difficult for me to tell sometimes because there are more than a few people here who imagine that the government would shut off electricity to stop Bitcoin transactions, while they smugly took their fiat down to Taco Bell to get a burrito.
I've tried to do my due diligence on crypto, and Bitcoin has more points of defense than any other crypto...by a long shot. Do you have the same read?
Digital currency can be gone with the push of a button.
Who controls that button?
The IRS for one.
Bitcoin has more points of defense than any other crypto...by a long shot. Do you have the same read?
Yes
Digital currency can be gone with the push of a button.
Who controls that button?
The IRS for one.
No, but they do want to tax it. If you relate your wallet to your identity in any way, you should pay those taxes.
But that isn't a unique situation apart from the possibility you can transact crypto without associating your identity.
Digital currency can be gone with the push of a button.
Who controls that button?
The IRS for one.
No, but they do want to tax it. If you relate your wallet to your identity in any way, you should pay those taxes.
But that isn't a unique situation apart from the possibility you can transact crypto without associating your identity.
Unless it's a privacy crypto, how would you do that?
Johnny Law loves when crooks ask for ransoms in Bitcoin. It's so easy to trace.
I've put my money in XRP, hold some other tokens but the bulk is in XRP, hoping for a nice dip before the April halving to buy some more.
![[Linked Image]](https://www.24hourcampfire.com/ubbthreads/gallery/80/full/249759.jpg)
Since 1994 an investor could make 20%/year in MSFT, GOOG, and AMZN.
Comparing 20%/year to Bitcoin, it looks like bitcoin wins between 2017 and 2018.
https://twitter.com/foxesneverQ/status/1764610126085034402Interesting take.
@LukeGromen
@crossbordercap
Could cryptocurrencies help drain inflation out of assets like stocks, real estate that created bad inequality. And if so would governments start encouraging these assets to inflate while they fight the global debt deleverage?
You don't necessarily need to buy/hold your own crypto anymore, and for alot of people they are probably better off not doing so. You can buy an etf or even invest in things like Coinbase or Robinhood stock. Everything has run pretty hard for the last few months(even Coinbase stock up 200%) so might not be ideal buying times.
I don't look at crypto like typical old-school investments, where you buy some blue chips and basically forget about them for the next few years. You have to be paying attention.Be willing to buy when everyone is sure it's all dead and never coming back, and start selling when everyone starts paying attention again. It's just a tool to make money, that's it. There has been many projects that have done 500-1000% or more in just the last few months. If you're willing to pay attention and watch the charts a bit, it can pay off well.
One piece of advice I'd give is to start small and gradually increase your investments as you become more comfortable with the market. It's also crucial to do thorough research on the cryptocurrencies you're interested in. Understanding their technology, use cases and market trends can help you make informed decisions.
As for resources, there are plenty of beginner-friendly courses and guides available online. These can provide you with a solid foundation and help you navigate the complexities of the crypto market. Additionally, keeping an eye on
miner profitability can give you insights into which cryptocurrencies are performing well and may be worth investing in.
One piece of advice I'd give is to start small and gradually increase your investments as you become more comfortable with the market. It's also crucial to do thorough research on the cryptocurrencies you're interested in. Understanding their technology, use cases and market trends can help you make informed decisions.
As for resources, there are plenty of beginner-friendly courses and guides available online. These can provide you with a solid foundation and help you navigate the complexities of the crypto market. Additionally, keeping an eye on
miner profitability can give you insights into which cryptocurrencies are performing well and may be worth investing in.
Nice bot you have there.
Backed by the full faith and credit of the United States of America.
That statement does not carry the power or confidence it once did.
Out of curiosity, what happens to crypto when a cyber attack takes out the web for the long term?
That might also take out access to bank accounts and credit. I don't know how all that works but I believe most money is just figures out in the internet somewhere being moved around.
Maybe we would be back to cash, metals, and barter. Not sure how that would work for paying things like taxes and utilities. Come to think of it, a cyber attack would shut down utilities would it not?
Historically gold and silver are for persevering personal wealth. If you fear the future economy or the stability of fiat currencies. Buy good and silver and store it in your home.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
Or a really smart hacker or group of hackers. Perhaps working for a criminal organization or foreign government?
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
Or a really smart hacker or group of hackers. Perhaps working for a criminal organization or foreign government?
Darkside hacked Colonial pipeline. Got 75 bitcoin in ransom. US DOJ "retrieved" 63.7 of them after the payment. FBI got the wallet key and grabbed it. If things go TU and BTC becomes what people believe it to be - expect more to be "retrieved" by those with the most to lose - government.
Like the stock market crypto is manipulated to go up and down. So it is possible to buy low and sell high.
![[Linked Image from i.imgur.com]](https://i.imgur.com/8kYUsas.jpg)
Or buy high and watch it tank like I did.
Unless it's a privacy crypto, how would you do that?
Johnny Law loves when crooks ask for ransoms in Bitcoin. It's so easy to trace.
The BTC ledger is public by design, so it is easy to trace. But those traces show only which wallet addresses received or sent what quantity of BTC to other wallet addresses, they don't identify who owned that wallet. Crooks who ask for ransoms in BTC get busted because their exchange gives them up when presented with a warrant, which they should rather than risk their business.
There are countries with few to no regulation of crypto exchanges and there are people who will trade crypto outside of exchanges using their own nodes. A person who was really motived to avoid associating their identity with a wallet could send and receive BTC through those methods and while it would be easy to know what the wallet was doing, no one would know who was doing it. Of course that depends on other people not being rats, or part of a sting, and they are going to take a very large cut, but it is within the realm of possibility.
Even if it works the trouble is at the end points. If you want to turn any of that BTC into fiat you will either need to deal with people who are even shadier than the ones above, but you would have to be extremely careful about letting it touch the banking system anywhere.
Probably more trouble than it is worth for the most of us.
Digital currency can be gone with the push of a button.
Who controls that button?
Please say who.
Or a really smart hacker or group of hackers. Perhaps working for a criminal organization or foreign government?
No I don't think so. Stopping the entire BTC network would require stopping every node, or at least a huge number of them.
Nodes get cracked all the time but not enough to even affect processing times. Exchanges get cracked, people get their wallets broken into, etc. but none of it happens on a large enough scale to make much difference. The motivation is there. Satoshi Nakamoto's wallets are still sitting out there waiting to be robbed of their ~$75,000,000,000 but no one has gotten them yet.
Darkside hacked Colonial pipeline. Got 75 bitcoin in ransom. US DOJ "retrieved" 63.7 of them after the payment. FBI got the wallet key and grabbed it.
"Not your keys, not your coins" is something my kids know the meaning of. Well not the little one yet but he will.
The FBI got the keys because the exchange gave them up when presented with a warrant. If they'd moved the remaining 63.7 off to a wallet where they held the keys that would not have been possible.
Like the stock market crypto is manipulated to go up and down. So it is possible to buy low and sell high.
Yes, very chinky behavior.
I did my taxes a couple weeks ago with TurboTax and there was a topic I hadn’t seen before. It was something like, “did you have any transactions in any cryptocurrency?” and it made me wonder why the interest all of a sudden?
I did my taxes a couple weeks ago with TurboTax and there was a topic I hadn’t seen before. It was something like, “did you have any transactions in any cryptocurrency?” and it made me wonder why the interest all of a sudden?
That question has been on the 1040 for a few years, but the IRS added it to more forms for the 2023 tax season.
They are interested in collecting taxes and their interest grows along with the crypto market.
If it has value, Uncle Sam wants to know about it and tax it. Simple as that. In the minds of Washington, what is yours is theirs.
There are way to establish crypto trading accounts out of the purview of government entities. (I'll leave it at that)
In regards to crypto security, get a cold wallet and move most of your coins off exchanges. I keep a balance on one exchange for quick trades, but 90% is sitting in a cold wallet. I use KeepKey but there are plenty of options.
While it may all seem very mystical, crypto trading is like all other trading. It's just a different horse.
I wish I would have bought bitcoin back about 10 years ago when my friend tried to talk me into it. It has as much or more value than dollars. They're both worth something because people believe they are.
I just have always had bad luck with technology in general. All my hard drives have pretty much gone bad and so have my thumb drives. Those were the fears that kept me out. Had I known you could print your codes and keep hard copies I'd have probably bought in.
I feel like I missed the opportunity now and there's too much potential to move either way so I'm still not in it. There seemed to be much more potential upside when it was cheaper. I don't see it going up 10 or 100 times again but who knows. I spent most of my extra money on gold the last few years. It's moved up some but nothing like crypto.
Bb
You're gold will always have value, it is money not currency.
Gold is cool and all, but walk into a store and attempt to buy something with it. Gold is an asset, it is not money or currency used to pay for goods and services. Assets are tangible and intangible measures of value that earn money.
The crypto market is currently valued at $2.4 Trillion. It is currency that can be easily converted to any other currency and more and more business around the globe accept it as a cash payment. Bitcoin ATMs are popping up everywhere making it simple to convert crypto into USD anytime. But I would advise against it due to the processing fees. Selling crypto through an exchange is simple enough and the funds can be deposited into a bank account anywhere in the world within minutes.
Cryptocurrency is here to stay.
While peanuts to some, I turned about $4,000 into $16,000 a few years ago, right after my divorce. That was a PILE of money to me at the time, and I felt pretty good about it. However, that same $16,000 would have been over $100,000, but I wasnt greedy and sold my Dogecoin when I had something like 300% return.