Dougster I actually sold all my cryptos just the other day! I was a bit early because they all rebounded right after I sold. I will probably get back in if I see BTC breaking above $3000.
Putting ALL of my portfolio into cryptos?? I don't think so.
@trackstar: Why did you sell? I noticed a couple of nations working on national crypto currencies as I was speculating back a few weeks ago could happen. Was that part of the reason?
@Dougster: Fear, mostly. I got sick of the Bitcoin roller coaster. Plus, you know how they say you should only invest as much as you are willing to lose? Well, I was not willing to lose the amount that I had in cryptos. But, I made a few thousand in profit, which is a lot for my debt-riddled ass.
Yeah, the volatility is wild. Who needs options when you have crypto-currencies? I think there are only a few ways to play it:
a) invest with money you are willing to lose near all of, but which could triple, quintuple or more
b) invest amount which you hope you don't lose all of and watch the market day to day but just hold (requires ball of steal)
c) invest amount which you hope you don't lose all of, but accept that you could. Download it to trezor and only check in a couple of times a year
Word on the street is that hedge fund guys are salivating to get in on the action. That will be fun when they show up!
They definitely have usefulness. It's easier to order from overseas using bitcoin than a credit card in some instances as banks can be a psin in the ass with some of the transactions.
@ime: Yep, that would be my 2nd choice. Has the strongest foundation, IMO. Pay people for computations their computers are doing. Also Russia has said their national crypto currency will be based on Ethereum.
Dougster's True Identity, building a world where everyone lives for ever because of weekly blood transfusions, a world without women, and a world with endless gay sex.
^^^ There's your SJG comment, and without fail it turns a trivial topic into some stupid turn. Hopefully someone can redirect this back onto a more intelligent track after SJG' s comments.
I had a thought the other day about cryptocurrencies... one appeal of Bitcoin by its supporters is that it has a fixed supply (like gold) and is therefore not subject to inflation (increase in money supply). However, is inflation necessary in a capitalistic society? Financial assets are backed the businesses that issue them, and businesses are profitable because they own capital assets. But, in a deflationary monetary system, the nominal value of consumption goods (that are produced by production goods / capital assets) would decrease over time. Therefore, the capital asset which produces the consumption goods would generate a diminishing rate of currency for its owner.
I'm tired... somebody with a finance degree please finish this train of thought for me...
F2F he would not get away with it. He would be handled swiftly and wouldn't use the words he uses here on this site. I would make sure he faces his consequences. SJG only does this shit because he is online. Internet tough guy is a chumps game. It is better to invest into walking the walk, as talking about it like SJG does is also a chumps game.
The problem with deflation is that is not as stable as mild inflation. If there is deflation people wait to spend money looking for a cheaper price later. Which leads to more deflation.
Not all crypto currencies are deflationary, however. PIVX for example is mildly inflationary.
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That's SJG stupidity level right there. He would probably approve of this move.
Putting ALL of my portfolio into cryptos?? I don't think so.
Instead of using my hard earned money, I use my cryptocurrency profits to fund my PL habits.
@tittyfag: Any day the treasury market is open is a good day to short treasuries!
AMD has been losing money recently and is definitely a market darling.
a) invest with money you are willing to lose near all of, but which could triple, quintuple or more
b) invest amount which you hope you don't lose all of and watch the market day to day but just hold (requires ball of steal)
c) invest amount which you hope you don't lose all of, but accept that you could. Download it to trezor and only check in a couple of times a year
Word on the street is that hedge fund guys are salivating to get in on the action. That will be fun when they show up!
My main worry is the threat of national crypto currencies. But it partly depends on what coin creation model they use.
https://www.tuscl.net/?page=post&id=5044…
And to think, that I was even trying to learn more about nuances of our tax code.
SJG
I'm tired... somebody with a finance degree please finish this train of thought for me...
Not all crypto currencies are deflationary, however. PIVX for example is mildly inflationary.