Crypto currency

Discussion in 'Business, Investing & Finance' started by Gator By Marriage, Mar 16, 2019.

  1. Gator By Marriage

    Gator By Marriage A convert to Gatorism
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    I was listening to Ric Edelman’s radio show today and he did a short segment on crypto currency, specifically bitcoin and ethereum. He was recommending against them as an investment vehicle, though he did admit to owning some. (For those not familiar with Edelman, he own an investment firm and has written several books on the topic, most notably “The Truth About Money” & “The Lies About Money.” Love him or hate him, he is entertaining.) Any thoughts from our resident financial experts?
    In my former life, I sat through a bunch lectures on the dark web and thus, crypto currency, and have tried to read what I can, but I still don’t feel as if I understand enough to ever invest in it. I wouldn’t want to be the guy holding a bunch when the music stops.
     
  2. williston_gator

    williston_gator Twitter junkie
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    I had some for about two years. Sold it a few months ago. I made about $500 but if I'd have sold at it's peak I'd have made around $2,500.
     
  3. FireFoley

    FireFoley Senior Member
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    Although my career was in the markets, this is one area I will not delve into as an investment, tho I admit to shorting bitcoin as a trade a few times. I don;t truly understand exactly how these things work, but as an investment I will not put one penny into it for this reason. Having read where people's currencies disappear or get stolen, who do you call to try and retrieve? Or if some hacker takes your currency, who do you call, ghostbusters? As an owner of CD's, etc. in financial institutions that went away, I did not have to bat an eye b/c the money showed up with interest thanx to the FDIC. Trade? Yes. invest? No
     
    • FireFoley

      FireFoley Senior Member
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      I just saw that the CBOE (Chicago Board Options Exchange) was going to stop trading Bitcoin Futures due to lack of interest. Many thought that when Futures trading began on some crypto currencies that they would become more accepted and used. Well it appears that there is little interest. As someone who was at the CME for a long time I have seen many futures contracts come and go, so I can't say I am surprised.
       
      • Gatormac2112

        Gatormac2112 The Voice of Reason
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        I think its time to revive this thread. Bitcoin above $32K and Ethereum at $771 as I write this. Hell, even a joke/meme cryptocurrency called Dogecoin has had gains of 450% this past year.
         
      • Concrete Helmet

        Concrete Helmet Hook, Line, and Sinker
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        I was sure I was going to buy some in Nov. when it was at 17k....haven't because I can't believe that the CB won't just create their own brand....Do they sell it in an ETF backed by real BC like gold? I could probably wrap my head around that better than downloading something I can't see onto a thumb drive and more than likely losing it.
         
      • FireFoley

        FireFoley Senior Member
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        And Ripple has been deemed a fraud, So whose to say which is legit and which is not. Too tough for me.
         
      • Gatormac2112

        Gatormac2112 The Voice of Reason
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        XRP hasn't been deemed a fraud, only that its not decentralized and is thus considered a security.Basically if there is a company behind it that sells and controls it (Ripple), then more than likely the SEC will consider it a security so stay away. Bitcoin is completely decentralized. Its founder is a complete myth, a ghost, a tale.

        Crypto Rating Council - Asset Ratings
         
      • Detroitgator

        Detroitgator Well-Known Member
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        Guess what? It's been about 18 hours since you posted this... in that time, bitcoin is up another 6%. ;)
         
      • Concrete Helmet

        Concrete Helmet Hook, Line, and Sinker
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        Wow! $100 an hour?

        I guess I've been a little too busy to notice....ya know with Tuesday right around the corner and all...
        [​IMG]
         
        • Gatormac2112

          Gatormac2112 The Voice of Reason
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          GBTC would be the closest thing I believe

          https://grayscale.co/bitcoin-trust/
           
          • Swamp Donkey

            Swamp Donkey That's the sound your mother made last night
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            Well, if you are trying to invest in some X from Europe or fetty from China, it is the only way.
             
          • Taco Gratis

            Taco Gratis Well-Known Member

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            Banks authorized to treat public blockchains as another form of settlement infrastructure.

            OCC_Blockchain_ruling.png
             
          • Taco Gratis

            Taco Gratis Well-Known Member

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            Bitcoin matters more than any single election.
            But you have to be able to stomach the volatility.
             
            • Taco Gratis

              Taco Gratis Well-Known Member

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              "Keep stacking Sats."
               
              • Taco Gratis

                Taco Gratis Well-Known Member

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              • Detroitgator

                Detroitgator Well-Known Member
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                That scene, and this scene, are among my favorites, but the edge will always go to The International, because it is irrefutable fact... "You control the debt, you control everything"... but eventually, that leads to the scene from Margin Call.

                You find this upsetting, yes? ;)
                 
                • Detroitgator

                  Detroitgator Well-Known Member
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                  Well since then, it dipped down to $30K, but has rebounded nicely.... to $38K.
                   
                  • Concrete Helmet

                    Concrete Helmet Hook, Line, and Sinker
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                    Yeah I'm missing the fun that's for sure but at this point I'll have to wait for a dip...I took that money and went into mostly silver, a little gold and hold on to your hat.....value/dividend funds :lol:.
                    I'm learning a lot from guys like yourself over the last couple of years but quite frankly I'm a little too much of a procrastinator and not really that great when it comes to speculating/trading...
                     
                  • Detroitgator

                    Detroitgator Well-Known Member
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                    $39K.... :lol:
                     

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