Ratwagon1600 Posted January 23, 2018 Report Share Posted January 23, 2018 In an effort to expand my play money account and invest more money (and time) in my projects Im looking at crypto currency investments i.e. Bitcoin, Etheryum, Dash, LTC etc. There will be innumerable naysayers about this,; what I am hoping for is a genuine interest and discussion from like minded peeps. And yeh , sure, Im going to be told to fuck off to an investment website or like forum. For those of you contemplating suggesting that I give you Cuz, Insmncs, Post Ass, Post Tits $1.99 etc etc etc. For those interested, some links frm a great mate of mine who despite noy owning a single Datsun is a very!!!! clever man. For those not, well..............., F$#k off :) https://www.coinspot.com.au/ coinmarketcap.com. blockchain.com One key thing ive already learned from my very limited research is this is a marathon, not a sprint! 3 Quote Link to comment
flatcat19 Posted January 23, 2018 Report Share Posted January 23, 2018 Reading. For, I too, want more play money. 2 Quote Link to comment
Ratwagon1600 Posted January 23, 2018 Author Report Share Posted January 23, 2018 Reading. For, I too, want more play money. Gato, if this proves to be even remotely worthwhile I’ll share whatever I can. 1 Quote Link to comment
flatcat19 Posted January 23, 2018 Report Share Posted January 23, 2018 Like a sponsor? Woo Hoo! 1 Quote Link to comment
MikeRL411 Posted January 23, 2018 Report Share Posted January 23, 2018 Greatest Ponzi scheme since Ponzi ! Google Ponzi if you are not that aware of classic rip offs . "Give me your real money and I will pretend that there is something to back it up" . No, not any real Gold ;[most of the world's real currency, due to the 'Gold Tranche' of the IMF], Platinum [Old Imperial Russia], or government willing to redeem your mistake . Some central European and Baltic nations even backed up their currency with the state Royal Jewels . Depend on some suckers to bid in then cash out . If cashing out, Gold beats Platinum since so much Platinum is produced to feed the maws of Cat converters ; [the Platinum is excess to the Iridium used to balance the Platinum in the converters]. About 15 years ago the refiners were urged to increase the output of Iridium to meet pollution control goals. They refused because that would flood the market with surplus Platinum and ruin their profits ! 3 Quote Link to comment
Ratwagon1600 Posted January 23, 2018 Author Report Share Posted January 23, 2018 Greatest Ponzi scheme since Ponzi ! Google Ponzi if you are not that aware of classic rip offs . "Give me your real money and I will pretend that there is something to back it up" . No, not any real Gold ;[most of the world's real currency, due to the 'Gold Tranche' of the IMF], Platinum [Old Imperial Russia], or government willing to redeem your mistake . Some central European and Baltic nations even backed up their currency with the state Royal Jewels . Depend on some suckers to bid in then cash out . If cashing out, Gold beats Platinum since so much Platinum is produced to feed the maws of Cat converters ; [the Platinum is excess to the Iridium used to balance the Platinum in the converters]. About 15 years ago the refiners were urged to increase the output of Iridium to meet pollution control goals. They refused because that would flood the market with surplus Platinum and ruin their profits ! Thanks mike. I’m well aware of Ponzi schemes. Sorry to say this, but, your post is like something I’d expect from Hainz (I’m sure you know what I mean). I expected something more coherent from you :( Quote Link to comment
DanielC Posted January 23, 2018 Report Share Posted January 23, 2018 One of my, but probably not original thoughts. Spend less than you earn. Something I heard recently. The rich invest first, then spend what is left. The poor spend first, then invest what is left. Finally, some cowboy wisdom. When the old cowboy was asked "What is this horse worth?" He replied "whatever some fool will pay for that horse." Horses, stock and bonds, crypto currencies are all the same. They are only worth what some fool will pay for them. 4 Quote Link to comment
mainer311 Posted January 23, 2018 Report Share Posted January 23, 2018 I use CoinBase and have a very small amount of bitcoin. I bought in right before the huge spike a couple months ago. I watched my money quadruple. Unfortunately I didn’t buy in when it was really low, and I only really invested a little bit for fun. It goes up and down wildly, making day trading interesting, but like you said, it’s more for the long haul. Quote Link to comment
Cosmonaut Posted January 23, 2018 Report Share Posted January 23, 2018 12 years in banking...mgmt, investments, lending, commercial, 5 state ins (annuity) lisc here. I know very little about the alternative investments you are speaking of, I have not looked into them much. I know this, history repeats itself...over n over again. All nations currency has been devalued...were talking pennies on the dollar...no not because of inflation but rife overspending... Look at it this way...first a person can invest in them selves...work out you get muscle, diet you loose weight..etc..those are solid investments. Next a person can invest in his family...train your children, work at a good relationship....same principles. Next you have your neighborhood, work now comes into play, you make a name for yourself (family name) to insure that you can trade with other worthy famillies..lets say barter here...a way to survive a well rounded life with out trying to do everything.... Would a family at this point, invest 3 months of hard labor in a family with no proven history or trade for a commodity that you are not familiar with...BUT ONLY THE VALUE THAT FAMILY PUTS ON IT. Next you have your town, then cty, then county, the state...etc, etc, etc. What I am getting at is that man has for thousands of years has learned were to safely invest their funds...wether it be barter, labor or investment in a family with a proven name n commodity. Ponzi...snake oil...pyramid....enron (LOL) will always be appealing at first offering unbelievable return and appear valuable...but the problem is all of these are investments in that new family in the neighborhood that have not shown that they are worthy of trade, by time n test BUT they offer you a higher return higher then all of your neiborhood families that have established themselves. As i read this I don't think I am making any cense...but hey read it and think about it for a minute and maybe what I am trying to say will shine through. 1 Quote Link to comment
datzenmike Posted January 23, 2018 Report Share Posted January 23, 2018 :rolleyes: Play it like the stock market, huge wins but even huger risks, and pull your dick out on time. When it crashes, investors will jump from buildings. There'll be no government (or other) protection/insurance to cover your losses. Those that get out first will be the winners. It's all about trust, and well, that's in short supply. 2 Quote Link to comment
G-Duax Posted January 23, 2018 Report Share Posted January 23, 2018 Seeing that most of the worlds Bitcon (intentional miss spelling) is being 'mined' in china, I consider it worthless..... Besides, it can be crashed any time by our government just by having our super computers devote about a week to 'mine' more, and flood the market. So don't be retarded, don't get into Bitcon. It's like being in a high stakes poker game, but the dealer doesn't show you your cards, you have to take his word on what you have. 2 Quote Link to comment
q-tip Posted January 23, 2018 Report Share Posted January 23, 2018 Like most investments if the news is talking about it's your chances of making money are most likely behind you. Bit coin exists to have an untraceable way to buy illegal things like rhino horn and people. 1 Quote Link to comment
datzenmike Posted January 23, 2018 Report Share Posted January 23, 2018 Lets break this down to the basic premise. You want to invest money to make money while doing and producing nothing. The majority of people doing this are doing the exact same thing... so their incentive isn't belief in a company that will grow and have real worth but rely on new investors belief they can make some profit on the new investors after them, and they after them. 2 Quote Link to comment
petercscherer Posted January 23, 2018 Report Share Posted January 23, 2018 I believe investing in cryptocurrency at this point is jumping in on a peak. You'll more than likely lose money initially, and IF it ever begins to rise again, You MIGHT get some return. Bitcoin and all that was good to buy last year, but at this point, all I can recommend is buying good stocks OR BUY GOOD CARS!!!!!~Peter 2 Quote Link to comment
G-Duax Posted January 23, 2018 Report Share Posted January 23, 2018 BUY GOOD DATSUNS!!!!! ~Peter There, fixed :) 3 Quote Link to comment
mainer311 Posted January 23, 2018 Report Share Posted January 23, 2018 Like most investments if the news is talking about it's your chances of making money are most likely behind you. Bit coin exists to have an untraceable way to buy illegal things like rhino horn and people. No, cryptocurrency exists because it's a non-government controlled commodity. The USD is worthless. 3 Quote Link to comment
racerx Posted January 23, 2018 Report Share Posted January 23, 2018 Spend less, save more and invest wisely. Create a want and need list. Most expense are wants not needs. Stay away from chasing rainbows, soon this bit coin bs will crash. 3 Quote Link to comment
240zness Posted January 23, 2018 Report Share Posted January 23, 2018 Not secure, or as secure as your wallet on your phone..? Crypto currency is the future , because digital money will be what we have to use eventually Except for person to person for datsuns , etc. Quote Link to comment
mainer311 Posted January 23, 2018 Report Share Posted January 23, 2018 Guess what. The cash in your pocket decreases in value every day. Saving is great and all, but $10 saved today is $9 tomorrow, and even less in the far future. Think your interest rate covers inflation? Guess again. Paper money is a scam in today's economy, especially one that is backed by a government that rampantly prints more. The digital currency naysayers are going to wish they jumped in sooner. Quote Link to comment
racerx Posted January 23, 2018 Report Share Posted January 23, 2018 Sure it does...but better to have some saving than none. Most Americans don't have any savings, let alone retirement. 1 Quote Link to comment
flatcat19 Posted January 23, 2018 Report Share Posted January 23, 2018 Someone define mining. Please. Quote Link to comment
The Taterhead Posted January 23, 2018 Report Share Posted January 23, 2018 And what exactly are you mining? Information? Quote Link to comment
Draker Posted January 23, 2018 Report Share Posted January 23, 2018 Someone define mining. Please. The way I understand it: There are 12 new bitcoins awarded every 10 minutes, globally. To win a part of these bitcoins you process blockchain transactions in a high volume. I understand these to be, transactions using bitcoin.. and thus making it an anonymous currency. If you, or your group processes enough, you are awarded some of these 12 coins. The reason there are a lot of people mining in China is because they have cheap or free power in industrial areas. A lot of power is required to mine bitcoin efficiently. The problem can be, you must earn more bitcoin than you are paying in electricity. To do this, you need expensive mining rigs.. and cheap power. Hopefully that helps. 1 Quote Link to comment
mainer311 Posted January 23, 2018 Report Share Posted January 23, 2018 It's true. People have tried building home supercomputers using many GPU's to split the load. The cost to run one is expensive, and usually outweighs the profits. If you look up bitcoining mining online, be prepared to be mindblown. It's about as tangible as the size of the universe. Quote Link to comment
flatcat19 Posted January 23, 2018 Report Share Posted January 23, 2018 Yes, draker. That was what I was looking for. So it's either buy or mine. And if we're on the downward slide of the trend- buying is pointless, until a spike occurs. If. Seems like a second job would be more/equally rewarding. Quote Link to comment
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.