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 Cyrus19
Represents Enlil's Hope
Registered: 02/24/17
Posts: 2,503
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 My interest has peaked in crypto currency 
#24615906 - 09/09/17 12:08 PM (6 years, 7 months ago) |
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So a little background. My knowledge of tech is severely limited I know how to turn a computer on and off and surf the web thats about it. HOWEVER recently it seems cryptocurrencies may one day replace traditional paper currency or at least usurp the supremacy of the US dollar this scares me because I have regular dollars that I would like to see not become worthless. Does anyone have experience with buying and selling cryptocurrency? What are the risks?
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 koods
Ribbit
 
Registered: 05/26/11
Posts: 106,910
Loc: Maryland/DC Burbs
Last seen: 7 hours, 53 minutes
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Re: My interest has peaked in crypto currency [Re: Cyrus19]
#24616013 - 09/09/17 12:57 PM (6 years, 7 months ago) |
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Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
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NotSheekle said
“if I believed she was 16 I would become unattracted to her”
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Cyrus19
Represents Enlil's Hope
Registered: 02/24/17
Posts: 2,503
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Re: My interest has peaked in crypto currency [Re: koods]
#24616019 - 09/09/17 01:04 PM (6 years, 7 months ago) |
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Quote:
koods said:
Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
Ah ha I hear you I am just concerned about the US losing its place in the world and as such dollars become worth less. I plan to hold stocks because that is the production of a company that I partially own if I was rich I would like to own land. Cryptocurrency however could supplant traditional money as technology continues to improve.
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Sheekle
FREE BURKE
Registered: 01/11/10
Posts: 53,153
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Re: My interest has peaked in crypto currency [Re: koods] 1
#24616020 - 09/09/17 01:07 PM (6 years, 7 months ago) |
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Quote:
koods said:
Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
Haha, Koods hates cryptocurrencies and tried to talk me out of investing in them, so the last six months i've been updating Koods whenever Monero was worth every $10 more, from the time it was $10, to the time it was $150
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"Ur cat died because he hated u" - Koods
"I hope JSB kicks your ass one day." - Vandago
"you are the biggest 'internet guy' I have ever come across"- Jokeshopbeard
"The more I see you post the more I realize you're just this fuckin tie dye loser who trolls the Shroomery 24/7." - Herbologist
"Sheekle you cannot vile the dice of bullshit you have posted on this forum over the years, I like databases" - thelastoneleft
"or maybe i just come from a blood line of superior intelligence" - trees
R.I.P Kelsy, ?/?/?? - 6/11/16
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MushMaggot
Fibonacci'r
Registered: 08/16/17
Posts: 903
Loc: 
Last seen: 5 years, 4 months
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Re: My interest has peaked in crypto currency [Re: koods]
#24616021 - 09/09/17 01:07 PM (6 years, 7 months ago) |
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Quote:
koods said:
Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
What you just said sounds like normal currency too ?
Crypto currency is good idea, I dont like how banks are the dirty middle men.
I think its the last thing banks and government want though thats why it hasnt progressed much.
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psi
TOAST N' JAM
Registered: 09/05/99
Posts: 31,569
Loc: 613 
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Re: My interest has peaked in crypto currency [Re: Cyrus19]
#24616029 - 09/09/17 01:11 PM (6 years, 7 months ago) |
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I lost interest after I sold the bitcoins I mined for too cheap, don't really like thinking about it. Gambling is not really my thing.
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PartoftheSource
NAUT GUILTY
Registered: 05/27/15
Posts: 3,023
Loc: MIDWEST
Last seen: 6 years, 2 months
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Re: My interest has peaked in crypto currency [Re: Cyrus19]
#24616044 - 09/09/17 01:20 PM (6 years, 7 months ago) |
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Piqued? But yes, im right there with you being interested in cryptocurrency. I really want to invest in some and it sucks i missed my chance at monero when it was only $10
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Shroomery Stickers!
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Cyrus19
Represents Enlil's Hope
Registered: 02/24/17
Posts: 2,503
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Re: My interest has peaked in crypto currency [Re: psi]
#24616046 - 09/09/17 01:21 PM (6 years, 7 months ago) |
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Quote:
psi said:
I lost interest after I sold the bitcoins I mined for too cheap, don't really like thinking about it. Gambling is not really my thing.
I hear ya right now its gambling but if it becomes mainstream it could take over the traditional currency. Thats what concerns me.
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Sheekle
FREE BURKE
Registered: 01/11/10
Posts: 53,153
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Re: My interest has peaked in crypto currency [Re: Cyrus19] 1
#24616062 - 09/09/17 01:28 PM (6 years, 7 months ago) |
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Gambling with like 95% guaranteed winnings seems like a good risk to me
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"Ur cat died because he hated u" - Koods
"I hope JSB kicks your ass one day." - Vandago
"you are the biggest 'internet guy' I have ever come across"- Jokeshopbeard
"The more I see you post the more I realize you're just this fuckin tie dye loser who trolls the Shroomery 24/7." - Herbologist
"Sheekle you cannot vile the dice of bullshit you have posted on this forum over the years, I like databases" - thelastoneleft
"or maybe i just come from a blood line of superior intelligence" - trees
R.I.P Kelsy, ?/?/?? - 6/11/16
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DieCommie
Registered: 12/11/03
Posts: 29,258
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Re: My interest has peaked in crypto currency [Re: Cyrus19]
#24616065 - 09/09/17 01:30 PM (6 years, 7 months ago) |
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Why does that concern you? No room for stimulus and govt. intervention?
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PartoftheSource
NAUT GUILTY
Registered: 05/27/15
Posts: 3,023
Loc: MIDWEST
Last seen: 6 years, 2 months
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Re: My interest has peaked in crypto currency [Re: Sheekle]
#24616075 - 09/09/17 01:37 PM (6 years, 7 months ago) |
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Sheekle, if you had to start right now buying crypto currency with no previous investments would you still buy monero and do you think it still carries the 95 percent bet gaurantee?
Is there another possibly promising cryptocurrency on the horizon?
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Shroomery Stickers!
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PsiloPutty
Stranger
Registered: 08/31/17
Posts: 336
Last seen: 5 years, 1 month
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Re: My interest has peaked in crypto currency [Re: PartoftheSource] 1
#24616078 - 09/09/17 01:42 PM (6 years, 7 months ago) |
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Piqued, brother. 
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koods
Ribbit
Registered: 05/26/11
Posts: 106,910
Loc: Maryland/DC Burbs
Last seen: 7 hours, 53 minutes
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Re: My interest has peaked in crypto currency [Re: Sheekle]
#24616083 - 09/09/17 01:45 PM (6 years, 7 months ago) |
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Quote:
Sheekle said:
Quote:
koods said:
Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
Haha, Koods hates cryptocurrencies and tried to talk me out of investing in them, so the last six months i've been updating Koods whenever Monero was worth every $10 more, from the time it was $10, to the time it was $150.
What you are doing is totally unrelated to its value as a currency. In fact I would argue that the fact that you can quadruple your money in 4 months is exactly why it makes a terrible currency. Currencies have to be stable. If the US dollar value quadrupoled in four months, it would be am economic distaster for this country.
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NotSheekle said
“if I believed she was 16 I would become unattracted to her”
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koods
Ribbit
Registered: 05/26/11
Posts: 106,910
Loc: Maryland/DC Burbs
Last seen: 7 hours, 53 minutes
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Re: My interest has peaked in crypto currency [Re: MushMaggot]
#24616088 - 09/09/17 01:49 PM (6 years, 7 months ago) |
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Quote:
MushMaggot said:
Quote:
koods said:
Sorry. I'm gonna stick with a currency that is backed by the wealth of a nation, not a currency that is totally artificial. Just look at the volatility of the cryptos. A currency needs to be stable, not behave like a speculative equity.
What you just said sounds like normal currency too ?
Crypto currency is good idea, I dont like how banks are the dirty middle men.
I think its the last thing banks and government want though thats why it hasnt progressed much.
How many times have crypto currency holders lost everything because some organization got hacked or whatever. Banks are much safer than fly by night unregulated sites that go belly up overnight.
Sheekle is making good returns, but that money is hardly guaranteed considering how many times people's crypto fortunes vanish overnight.
Sheekle is doing nothing more than pure speculation. These currencies values skyrocket because people are buying to get rich. They have no real value and are backed by absolutely nothing.
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NotSheekle said
“if I believed she was 16 I would become unattracted to her”
Edited by koods (09/09/17 01:53 PM)
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DieCommie
Registered: 12/11/03
Posts: 29,258
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Re: My interest has peaked in crypto currency [Re: koods]
#24616095 - 09/09/17 01:52 PM (6 years, 7 months ago) |
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Its certainly no where near displacing national currencies. There are severe technical limitations, economic reasons, and societal inertia against that. Regardless, it is a healthy thing for markets to have this added diversity. And the technical innovation behind it is fantastic. This technology is a part of life and will be for as long as the internet exists.
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DieCommie
Registered: 12/11/03
Posts: 29,258
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Re: My interest has peaked in crypto currency [Re: koods] 2
#24616098 - 09/09/17 01:55 PM (6 years, 7 months ago) |
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Quote:
koods said:
How many times have crypto currency holders lost everything because some organization got hacked or whatever. Banks are much safer than fly by night unregulated sites that go belly up overnight.
Sheekle is making good returns, but that money is hardly guaranteed considering how many times people's crypto fortunes vanish overnight.
Its a foolish thing to let some web site hold your coins. That is not a mark against bitcoin technology, its a mark against noobs not understanding how to keep their own wallets.
When I mined coins I stored them in keys I created myself in an offline environment. Its very safe. You cant hack something that is offline.
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koods
Ribbit
Registered: 05/26/11
Posts: 106,910
Loc: Maryland/DC Burbs
Last seen: 7 hours, 53 minutes
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Re: My interest has peaked in crypto currency [Re: DieCommie]
#24616104 - 09/09/17 01:57 PM (6 years, 7 months ago) |
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Their value isn't based on anything real. No economic prosperity. They are really just casino chips that allow you to play in a closed market and have to be exchanged into a real currency to be valuable in the real world. Their value is supported almost entirely by speculative investing - people trying to get rich quick and those schemes always collapse at some point.
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NotSheekle said
“if I believed she was 16 I would become unattracted to her”
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DieCommie
Registered: 12/11/03
Posts: 29,258
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Re: My interest has peaked in crypto currency [Re: koods] 2
#24616106 - 09/09/17 02:00 PM (6 years, 7 months ago) |
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So what? None of those ideas undermine its power. It has diversified the marketplace and added billions worth of value.
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psi
TOAST N' JAM
Registered: 09/05/99
Posts: 31,569
Loc: 613
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Re: My interest has peaked in crypto currency [Re: koods]
#24616112 - 09/09/17 02:04 PM (6 years, 7 months ago) |
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Quote:
koods said:
Their value isn't based on anything real. No economic prosperity. They are really just casino chips that allow you to play in a closed market and have to be exchanged into a real currency to be valuable in the real world. Their value is supported almost entirely by speculative investing - people trying to get rich quick and those schemes always collapse at some point.
A bunch of people seem to use them to buy illegal drugs online. How can we know with any certainty how much of the trading activity is just speculation?
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akira_akuma
Φύσις κρύπτεσθαι ὕψιστος φιλεῖ
Registered: 08/28/09
Posts: 82,455
Loc: Onypeirophóros
Last seen: 4 years, 3 months
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Re: My interest has peaked in crypto currency [Re: koods]
#24616113 - 09/09/17 02:05 PM (6 years, 7 months ago) |
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business owners sit fat on their equity, and don't really prosper either, only their corporate entities prosper- until they've retired and already invested in a retirement plan, assets, ect, or sell it all off, all their "prosperity", so-called, is wrapped up in their business.
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