JohnnyNJoy Posted August 2, 2020 Share Posted August 2, 2020 I've yet to invest into cryptocurrency myself, but I would like to try my hand at eventually investing. With that being said, what cryptocurrency should we not currently invest in? I want to only focus on legitimate cryptocurrency and I figure we could start a list here of ones that are probably not good. Anyway, post away. ???? Link to comment Share on other sites More sharing options...
watgate Posted August 3, 2020 Share Posted August 3, 2020 (edited) Warren Buffet does not like Crypto currencies and Jim Rogers has stated that he doesn't like crypto currencies because he is of the belief that Governments will have their own crypto currencies available for the general public. He goes on to say since they basically have the control of the populace they will eventually not let entities like bitcoin remain since they will used to circumvent governmental control. He says bitcoin and the like will eventually go to zero and will cease to exist as governments introduce their own crypto currencies approved for public useage. I would like to get involved in crypto currencies at some point since I think the handwriting is on the wall but think it is a <deleted> shoot at this juncture and still very risky as we transition away from fiat currency and governments introduce their own crypto currencies. Edited August 3, 2020 by watgate 1 1 Link to comment Share on other sites More sharing options...
JohnnyNJoy Posted August 3, 2020 Author Share Posted August 3, 2020 I can totally see governments trying to implement their own cryptocurrency to get rid of the others out there. If that's the case, I probably won't be investing into anything. I don't want to risk investing into one and then all of a sudden it goes away because the government has their own now. Link to comment Share on other sites More sharing options...
Popular Post impulse Posted August 3, 2020 Popular Post Share Posted August 3, 2020 There's a huge difference between "invest in" and "bet on". 5 2 1 Link to comment Share on other sites More sharing options...
Popular Post watgate Posted August 4, 2020 Popular Post Share Posted August 4, 2020 I think the smart money gets in very early during the game and places their bets according to their risk tolerance and how deep their pockets are. I wonder if the smart money is still fully invested in cryptos, especially if they have already made a killing, or have they pulled out their initial investment and then some and are now playing with the house money? In this casino I call the financial markets where seemingly almost everything is being manipulated and controlled, huge sums of money can be won if you bet the "right horse" but also you can lose big depending on when the big players decide to pull out. It has already been shown that huge financial companies have rigged certain markets such as silver so one has to be lucky to not get caught up in a rigged game at the wrong time, I guess caveat emptor should come to mind and be aware of current events. 3 Link to comment Share on other sites More sharing options...
Popular Post stephenterry Posted August 4, 2020 Popular Post Share Posted August 4, 2020 5 minutes ago, watgate said: I think the smart money gets in very early during the game and places their bets according to their risk tolerance and how deep their pockets are. I wonder if the smart money is still fully invested in cryptos, especially if they have already made a killing, or have they pulled out their initial investment and then some and are now playing with the house money? In this casino I call the financial markets where seemingly almost everything is being manipulated and controlled, huge sums of money can be won if you bet the "right horse" but also you can lose big depending on when the big players decide to pull out. It has already been shown that huge financial companies have rigged certain markets such as silver so one has to be lucky to not get caught up in a rigged game at the wrong time, I guess caveat emptor should come to mind and be aware of current events. Completely agree. The financial markets have always been subject to manipulation by governments, insiders, big banks, hedge fund owners, corrupt brokers, and billionaires - and no amount of prohibitive legislation is capable of ensuring a level playing field for the average Joe. Caveat emptor for retail traders and investors is very apt. 3 Link to comment Share on other sites More sharing options...
Popular Post chicowoodduck Posted August 5, 2020 Popular Post Share Posted August 5, 2020 This is my best take on the Bitcoin saga........too good to be true.....most likely is.......???????????????? 2 1 Link to comment Share on other sites More sharing options...
Peter Denis Posted August 6, 2020 Share Posted August 6, 2020 The attached article clearly explains the difference between 'fiat' money and crypto-currencies like Bitcoin. Fiat money is based on a debt-obligation which can be enforced. Crypto is just Monopoly-money without such backing and based on thin air, so only worth what the other Monopoly-game players are prepared to pay for it. Both are subject to manipulation by Big Players, but the risk of losing (and winning) big time is of course much higher with the non-regulated thin-air child's play money. Cryptocurrencies are Digital Version of Children's Play Paper Money.pdf 1 Link to comment Share on other sites More sharing options...
Popular Post bbabythai Posted August 6, 2020 Popular Post Share Posted August 6, 2020 IMHO you should avoid coins such as ripple. Completely centralized and majority of tokens owned by the ripple company who are selling off daily thus keeping the price down. YOur best bet is to only buy bitcoin or just the top 5 to 10. Bitcoin has so much vested interest now and has the best brains in IT backing it and developing it. I really think the price will rise substantially in the coming yrs. Its really designed incredibly well. You should try to understand what the 'bitcoin difficulty adjustment' is all about. Bitcoin is unique and decreasing supply all the time. Unlike most other asset classes that have increasing supply. 3 3 1 Link to comment Share on other sites More sharing options...
Proboscis Posted August 6, 2020 Share Posted August 6, 2020 On 8/3/2020 at 7:36 PM, JohnnyNJoy said: I can totally see governments trying to implement their own cryptocurrency to get rid of the others out there. If that's the case, I probably won't be investing into anything. I don't want to risk investing into one and then all of a sudden it goes away because the government has their own now. I don't get the point of governments implementing their own cryptocurrencies - I mean, part of the definition of a cryptocurrency is that no government is involved. In addition, there is no benefit to a government to getting involved in or creating a cryptocurrency. In fact, if the government already issues a regular currency, they run the danger of affecting that regular currency. But to answer the question put by the original poster, even the drug dealers and other criminals are only using cryptocurrency because they have difficulty with using regular currency because of banking laws and rules against money laundering. But even they have problems because cryptocurrencies are traceable! So they are using the stuff out of desperation. I see them disappearing due to a lack of demand. 1 Link to comment Share on other sites More sharing options...
Popular Post Titan1962 Posted August 6, 2020 Popular Post Share Posted August 6, 2020 If your going to put your foot in the crypto market,stay with Ether and Bitcoin until you become familiar with the market. Most people who lose money buy in high and panic sell when it drops in price. Don’t day trade,don’t send your crypto to anyone that’s promising you quick returns. If your going to invest in crypto,buy a ledger nano S. go to you tube and watch some videos on how to set it up and use it. Rex Kingsley is a good start. Some people believe in crypto,some don’t. Some like lady boys some dontLOL. Don’t invest more your money if you are going to need it in the next couple years. Good luck and enjoy the highs and lows. 5 Link to comment Share on other sites More sharing options...
oznomad Posted August 6, 2020 Share Posted August 6, 2020 Link to comment Share on other sites More sharing options...
seancbk Posted August 6, 2020 Share Posted August 6, 2020 The partner of Coca-Cola’s largest U.S.-based bottling company is expanding its use of blockchain to enhance efficiency across the beverage company’s supply chain. They will use the Ethereum Mainnet Full announcement from August 3, 2020 : https://medium.com/unibrightio/baselining-the-north-america-coca-cola-bottling-supply-chain-f87539220269 This is the sort of news you want to keep upto date with so you know which blockchains and coins are really being used and developed. 1 Link to comment Share on other sites More sharing options...
Bender Rodriguez Posted August 6, 2020 Share Posted August 6, 2020 better luck in a casino 1 Link to comment Share on other sites More sharing options...
Logosone Posted August 6, 2020 Share Posted August 6, 2020 (edited) Quote I've yet to invest into cryptocurrency myself, but I would like to try my hand at eventually investing. With that being said, what cryptocurrency should we not currently invest in? I want to only focus on legitimate cryptocurrency and I figure we could start a list here of ones that are probably not good. You do not need to run the risk of actually buying bitcoin, you can trade the Bitcoin/USD pair as a forex pair. If Bitcoin were to go to 0 you can then short the hell out of it and make 500 million USD in one single day, like these guys did recently shorting oil when it went to 0: https://www.bloomberg.com/news/articles/2020-08-04/oil-s-plunge-below-zero-was-500-million-jackpot-for-a-few-london-traders I did buy some Bitcoin, for a bit of fun, but I much prefer to trade forex. You can still benefit from the Bitcoin price rising without the risk of holding bitcoin and instant disposal of your investment. Edited August 6, 2020 by Logosone 1 Link to comment Share on other sites More sharing options...
rwill Posted August 6, 2020 Share Posted August 6, 2020 You can invest in bitcoin on the stock market. The ticker is GBTC. One share equals around 1,068th of a bitcoin. One thing to realize is that many altcoins are being developed for specific purposes. They are better thought of as software programs using blockchain technology than currencies. For example ADA is used to store contracts. Like a contract between you and an insurance company. Instead of when you want to file a claim and call the company have an adjuster come and investigate it and then wait and hope for a payment. The ADA contract has conditions written in it. When they occur you are automatically paid out. It saves the insurance companies money and benefits you too. LINK is used to bring data from outside the blockchain and store it in the blockchain. It is used by other tokens for this purpose. EWT is used to record energy transactions. ETC... Look for coins with a large total addressable market, how many people/companies can use it. I like Crypto Chico channel on youtube. 1 Link to comment Share on other sites More sharing options...
WebGuy Posted August 6, 2020 Share Posted August 6, 2020 (edited) The Goverments can and probably will eventually create their cryptocurrency and some of them have alreadu done that. However, although the do that, it will.be as same as fiat because it will be centralized. On the other hand, bitcoin is decentralized and real need for it exists. Otherwise, it would not exist anymore but woul disappear long ago. If you would like to make a long term investment, bitcoin and etherium would be the right choice. By other words, invest and forget. Finally, if you have enough time to learn and follow the markets as a full time job, then you can get involved with s h _ _ coins. Edited August 6, 2020 by WebGuy Wording 2 Link to comment Share on other sites More sharing options...
Surelynot Posted August 6, 2020 Share Posted August 6, 2020 Been invested for sometime....it is a straightforward gamble.......don't over invest, buy when it's down, sell when its up. Bitcoin is pretty cyclical now rattling between fairly well defined upper and lower boundaries. 18 million mined, maximum 21 million to come into existence.....anyones guess what will happen as we get towards to the end!!! 2 Link to comment Share on other sites More sharing options...
Peter Denis Posted August 6, 2020 Share Posted August 6, 2020 4 minutes ago, Surelynot said: Been invested for sometime....it is a straightforward gamble.......don't over invest, buy when it's down, sell when its up. Bitcoin is pretty cyclical now rattling between fairly well defined upper and lower boundaries. 18 million mined, maximum 21 million to come into existence.....anyones guess what will happen as we get towards to the end!!! ... Maybe ask John McAfee for some Bitcoin predictions ... Quite tasty! Link to comment Share on other sites More sharing options...
Surelynot Posted August 6, 2020 Share Posted August 6, 2020 2 hours ago, Peter Denis said: ... Maybe ask John McAfee for some Bitcoin predictions ... Quite tasty! The twins who claimed Zuckerberg stole FB from them.....OMG, how much money did they make? 1 Link to comment Share on other sites More sharing options...
allanos Posted August 6, 2020 Share Posted August 6, 2020 Bitcoin cannot be banned because it is decentralised. Most altcoins have so-called "use cases", i.e. they are designed and created for a particular purpose. Bitcoin's market cap is far and away higher than any other, but Etherium, in some respects, has a better use case. There is no question that BTC is the market leader, and will continue to be so for a number of years. Those that believe it is simply a way for crooks and money-launderers to move their funds around are very wide-of-the-mark. Bitcoin's recent "halving" event has yet to kick in fully, but already the price has risen by a couple of thousand dollars. ETH 2.0 will be launched shortly, and we should expect the price to rise substantially. It is already moving higher. There is not much point in buying other tokens beyond the above two, unless one does a bit of decent research on the various use cases and underlying technologies, to get a handle on their future potential. Or, one can buy say a basket of 5-10, and hope that one or two shoot to the moon at some point. As to whether smart money is investing in BTC, take a look at Greyscale Investments LLC, who have recently been buying 150% of newly-mined BTC. You can also take a look at the GLASNODE site, which gives free on-chain metrics and charts of various kinds, where, among other things, they analyse the BTC holdings by the so-called "whales". It's quite informative. You have to ask why the whales aren't selling. Surely, it is the belief that the long-term price and value of BTC is expected to rise? Bitcoin is finite. It cannot be mined beyond 21 million coins. In the not-too-distant-future, as BTC exposure takes hold with the public at large, who will realise that the recent printing of 20 trillion dollars of additional fiat by various governments around the world is inflationary and eroding the buying power of their hard-earned bucks, we can expect the law of supply and demand kick in. Just as gold has the potential to reach $5000.00 within the next 5 years or so, BTC has the potential to go to $100 000.00 in the same time span. 2 Link to comment Share on other sites More sharing options...
WebGuy Posted August 6, 2020 Share Posted August 6, 2020 46 minutes ago, allanos said: Bitcoin cannot be banned because it is decentralised. Most altcoins have so-called "use cases", i.e. they are designed and created for a particular purpose. Bitcoin's market cap is far and away higher than any other, but Etherium, in some respects, has a better use case. There is no question that BTC is the market leader, and will continue to be so for a number of years. Those that believe it is simply a way for crooks and money-launderers to move their funds around are very wide-of-the-mark. Bitcoin's recent "halving" event has yet to kick in fully, but already the price has risen by a couple of thousand dollars. ETH 2.0 will be launched shortly, and we should expect the price to rise substantially. It is already moving higher. There is not much point in buying other tokens beyond the above two, unless one does a bit of decent research on the various use cases and underlying technologies, to get a handle on their future potential. Or, one can buy say a basket of 5-10, and hope that one or two shoot to the moon at some point. As to whether smart money is investing in BTC, take a look at Greyscale Investments LLC, who have recently been buying 150% of newly-mined BTC. You can also take a look at the GLASNODE site, which gives free on-chain metrics and charts of various kinds, where, among other things, they analyse the BTC holdings by the so-called "whales". It's quite informative. You have to ask why the whales aren't selling. Surely, it is the belief that the long-term price and value of BTC is expected to rise? Bitcoin is finite. It cannot be mined beyond 21 million coins. In the not-too-distant-future, as BTC exposure takes hold with the public at large, who will realise that the recent printing of 20 trillion dollars of additional fiat by various governments around the world is inflationary and eroding the buying power of their hard-earned bucks, we can expect the law of supply and demand kick in. Just as gold has the potential to reach $5000.00 within the next 5 years or so, BTC has the potential to go to $100 000.00 in the same time span. Nice description. So it is not about in which ones not to invest but in which ones to invest. Thus, the answer to this post would be, invest in bitcoin and etherium and if you really want to gamble, invest in some s h_ t coins and who knows, maybe something happens 1 Link to comment Share on other sites More sharing options...
fdsa Posted August 6, 2020 Share Posted August 6, 2020 10 hours ago, chicowoodduck said: This is my best take on the Bitcoin saga........too good to be true.....most likely is.......???????????????? ignorance is a bliss. 2 Link to comment Share on other sites More sharing options...
how241 Posted August 6, 2020 Share Posted August 6, 2020 (edited) I have a Ledger Nano S for sale, if you need a place to hold your coins ..Ledger Nano S -perfect condition with original box. asking 1,700 baht or near price offer. Free delivery. The coins I currently hold are sitting on the exchange as I like to day trade. Edited August 6, 2020 by how241 Link to comment Share on other sites More sharing options...
how241 Posted August 6, 2020 Share Posted August 6, 2020 This question is off topic but I remember reading that it costs around $5-$7 a ounce to get silver out of the ground and around $1,100 a ounce to mine gold so why is the price so high when they can always mine more gold and silver, unlike Bitcoin. I guess there is a lot of lag time to restart up gold mines. Link to comment Share on other sites More sharing options...
WebGuy Posted August 6, 2020 Share Posted August 6, 2020 9 minutes ago, how241 said: This question is off topic but I remember reading that it costs around $5-$7 a ounce to get silver out of the ground and around $1,100 a ounce to mine gold so why is the price so high when they can always mine more gold and silver, unlike Bitcoin. I guess there is a lot of lag time to restart up gold mines. The same question could apply for example for dollar. Why is it still so high when they print money a lot? It shows that fiat is flexible for manipulation unlike it will bitcoin be when it hits its maximum of 21 million coins. This begs other questions i.e. is it good for currencies to be flexible/ inflexible, obviously economies are something flexible so why would any government use inflexible currency? Is it good or bad, would all the human society be able to use 21 million bitcoins, what if some government is in possession of bitcoin majority/ could they somehow manipulate to hurt other economies? This all is quite unexplored but at the moment it is important that bitcoin has its value / purpose. What is coming later is quite speculative and our discussion could go to eternity ???? Link to comment Share on other sites More sharing options...
Logosone Posted August 6, 2020 Share Posted August 6, 2020 34 minutes ago, how241 said: This question is off topic but I remember reading that it costs around $5-$7 a ounce to get silver out of the ground and around $1,100 a ounce to mine gold so why is the price so high when they can always mine more gold and silver, unlike Bitcoin. I guess there is a lot of lag time to restart up gold mines. A good question that requires a complicated answer. The first thing to note is that there are two gold markets. The physical market, with miners, jewellers etc and the digital market, with futures and forex. The second thing to note is that gold is a haven, the view being that if everything crumbles to dust, money, shares, stock markets, banks, the two things that will not and will retain their value are gold and silver. The third thing to note is that we have negative interest rates, no yields, which makes gold, that has no yield, more attractive because the alternatives do not give a lot of yield anyway. The fourth thing to note is that gold is not unlimited, there is limited supply in a relatively small number of countries on a large scale. The fifth thing to note is that gold and silver are commodities and raw materials for art, jewellery and manufacture. Of all the points above the second point is the most decisive however. 1 Link to comment Share on other sites More sharing options...
allanos Posted August 6, 2020 Share Posted August 6, 2020 1 hour ago, how241 said: This question is off topic but I remember reading that it costs around $5-$7 a ounce to get silver out of the ground and around $1,100 a ounce to mine gold so why is the price so high when they can always mine more gold and silver, unlike Bitcoin. I guess there is a lot of lag time to restart up gold mines. The short answer is that, like all commodities of whatever kind, the price is a function of supply and demand. Most of the large gold fields have already been discovered. Call them the low-hanging fruit. South Africa once had the largest gold mining industry in the world. It is now around number 6 or 7 as a gold producer because the mines are played-out. Miners are having to go deeper and deeper to extract what's left, sometimes as much as four kilometres down. Therefore, gold becomes more costly to dig out of the ground. Remember, too, that the gold price goes down as well as up. If it falls below that $ 1100.00 per ounce, a mine is losing money drilling for it, and is thus operating at a loss. The recent gold price surge is boon to miners, and will spark more exploration. If any new big finds are made, expect them to take many years, and millions of dollars, to be brought on stream. 1 Link to comment Share on other sites More sharing options...
Iron Tongue Posted August 6, 2020 Share Posted August 6, 2020 You want a lead on a crypto to invest in? ...Venezuelan Petros! Link to comment Share on other sites More sharing options...
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