BitCoin/Ethereum

[penfold_43]

I mined some four years ago using the GPU in my gaming computer. Cost me some electric and I think I'm about 5000% up now on my electric costs (hardware costs were nil as I had the computer already). People were saying it's a bubble, a ponzi scheme and it would all turn into tulips within months back then as well .

No idea what the price will do in future, I'm just sitting on mine as I've long since written off the cost of the electric so it owes me nothing.

 

[Deleted member 43650]

Also, I see a lot of talk about fiat currency backing. One of the biggest hurdles to understanding cryptos is that we often erroneously believe that money is 'real'. Money - particularly legal tender, which accounts for a minuscule amount of the World GDP - is an ineffable, faith-sustained concept. It is largely illusory. The Federal Reserve indeed backs the USD...with the USD. This means, if you bring them a 1USD note, they can offer you....a 1USD note in return.

We are losing faith in our fiat currencies and poor regulations, and for good reason. Crypto is *not* a bubble - at least not in its entirety. It is an emerging economy to which the 'old rules' do not apply. This is uncharted territory, which is why things such as market cap are essentially irrelevant when considering the possibly HUGE ROI and eventual valuations of various cryptos.

 

[Deleted member 43650]

Certainly am. I'm currently pursuing my MBA - got interested in stocks at a very early age. The crypto market and blockchain technology is incredibly fascinating. We are seeing the emergence of an entirely new socio-economic partition. Largely, the recent surge of interest in cryptos is not only attributable to speculative investment i.e. the fact that this is an unprecedentedly lucrative investment market, but to growing disillusionment with the Federal Reserve, fiat currency, and current market economies.

Crypto is here to stay - people can call it a bubble and apply antiquated notions regarding market caps etc all they want. Newer alt-coins are expounding upon blockchain technology and introducing real-world applications (e.g. Ripple XRP, TRON, et al). As for Bitcoin - I long ago allocated my Bitcoin into other, newer crypto assets and platforms. I did this namely because of the lack of application behind Bitcoin and its extreme volatility due to such high speculator interest (and again, the lack of application).

At this point, the entry-point for Bitcoin is so exceedingly high, one would need an immense amount of capital in order to see noteworthy returns. Thus, I recommend looking into companies like Cardano, Ripple, TRON, EthLend, etc...

Do your homework. Read about these companies and what they are doing (and plan to do). Read their 'whitepaper' and learn about both the asset and the tech behind it. I diversified my crypto portfolio across various companies I believe will have a place in this imminent emerging economy. As you become more knowledgable, attend some conferences (or view them online via livestream), follow the news in the crypto world, and keep track of new and emerging projects. This will afford you the opportunity to partake and invest in ICOs (initial coin offerings - essentially the analog to IPOs in stock/public companies).

BTC, ETH, and LTC are largely just trading assets at this point. I recommend using ETH as a primary trading asset given their more expeditious blockchain tech and lower transaction fees. Keep in mind that these 'big three' (and BCH a fourth) are increasingly stagnant insofar as further innovation is concerned. This is largely attributable to the incessant squabbling between miners and devs/programmers (e.g. the Segwit2x debacle with BTC).

If you want any tips on how to get started - particularly moving past the common gateway that is Coinbase and into other cryptos - feel free to message me or quote my post.

-Tex

 

[Alex McFly]

John McAfee (of McAfee Antivirus) is predicting bitcoin will reach 80K by the end of this year, and a million in 3 years. That said, I think it's wise to diversify into some of the other coins, mainly Lite coin (faster, better for small transactions) and Monero (much better privacy)

 

[Deleted member 43650]

John McAfee (of McAfee Antivirus) is predicting bitcoin will reach 80K by the end of this year, and a million in 3 years. That said, I think it's wise to diversify into some of the other coins, mainly Lite coin (faster, better for small transactions) and Monero (much better privacy)

This is correct, and this prediction could very well be realized, market cap notwithstanding. In 2011, the notion of Bitcoin reaching $1,000 was deemed absolutely absurd, and here we are with an ATH of almost 20k. I furthermore agree with you about diversification: so many of these new crypto assets expound on the blockchain technology, proof-of-stake (PoS), et cetera. ADA Cardano comes to mind; their whitepaper is excellent and their long-term 'roadmap' looks extremely fruitful. If nothing else, failed cryptos will serve as 'stepping stones' for successful ones.

 

[Millenniumer]

In case there’s at least anyone who’s not here to speak about boobs , but interested in earning money with Bitcoin, I am talking about cloud mining now — here’s ( http://miningtop10.com/genesis-mining-review/ ) a good review website of the leading platforms. If you don't see some cloud mining service on this website than it probably means that this service is very likely to be a scam.