Crypto

GoodMan_Gone · 2021-05-10T10:14:07+00:00

OP, my opinion: I can't shake this nagging feeling crypto is a hype which is bound to blow up and leave people financially wrecked in the aftermath. I don't have any solid arguments for that. It's, again, a gut feeling.

The only "solid" arguments I can think of is I don't understand how those algorithms fabricated by computers have any intrinsic value. Yes I get it: nothing has. It's only what any given moron is willing to pay for it. Same goes with art, precious metals a.s.o. But with crypto I fail to see it. Only thing going for it, it's a way of making payments which are untraceable to a person. That comes in handy for criminals. Now I don't see any problem with making money out of that. Me and many other people are used to paying money to criminals. Those cartels are called "taxes and governments" IRL. I also see no problem in making money out of a hype. But in case crypto is a hype I have the feeling I'm too late already.

However: I could be dead wrong though. I know I have been in the past for not buying Google shares after the dot.com bubble burst or letting Apple pass when Jobs returned.

My advice is not to invest everything you have in crypto and be prepared to lose everything you have spent in it. In a way you'd be able to take the hit but without knocking you out. I.o.w. hope for the best, prepare for the worst.

delsystem32exe · 2021-05-10T05:46:42+00:00

im doing options...

a words from the wiser, crypto i think has the signs of a classic pump / dump...

I am a CCNA, and teach network engineering stuff sometimes to redditors for fun / just to help them out... my old student who lives in INDIA just DM'd me on reddit chat how to buy dogecoin and how crypto works... i was like damn, see below:

the old saying when the paperboy starts asking how to invest is when to exit, i was reminded of with this occurence.

_______

i have yet to have some avergage joe ask how to place a 2 standard deviation options trade with an Iron Condor and delta neutral hedge... so it looks like im safe... im not sure how safe you are, but best of luck, and i hope your crypto goes to the moon and makes you rich

sbh1987 · 2021-05-10T08:32:53+00:00

my portfolio currently looks like:

50% savings in high-interest accounts, spread between different world currencies (EUR, USD largest chunk)

20% general stockmarket (index-type certificates that follow the 50 largest corporations in the country)

15% commodities certs (Silver, Rhodium, Platinum, Coffee)

10% established crypto (Ethereum + Bitcoin)

5% ultra-high-risk niche cryptos (LTC and Cardano). Has so far paid off extremely well, but I'm not counting on it to keep up.

Crypto might become straight out illegal in the near future with prison terms awaiting those who handle it. I'm also seeing very possibly retroactive legislation chopping profits off those who already made them using this method. Might seem far off right now, but remember where you read it.

Film2021 · 2021-05-10T22:30:02+00:00

60% BTC

25% ETH

15% XLM

9trogenta · 2021-05-11T08:21:44+00:00

Seeing posts like that is exactly why putting any money into crypto is a bad idea right now.

the__rev · 2021-05-10T12:49:09+00:00

Take a look at Chainlink ($LINK) if you aren't familiar with it. I have a pretty hefty bag that I accumulated at every price between $1.79 and $32.

AltAccountWhatsUp · 2021-05-10T14:14:15+00:00

~~Monero because it's the most based~~ no but on a serious note, I think it's superior to Bitcoin in every way save for the debate over how it's mined. While we all know Bitcoin was made as a way to make digital cash that can't be faked, Monero takes it a step further and says it shouldn't be traced either. Monero also has very reasonable network fees and every world government hates it because it's too good. It's my personal favorite. As for small projects I like Ravencoin and I think you can expect solid long term gains from it. Maybe not an explosion, but I am more optimistic about where it could be in 5 or 10 years than most other projects. It also happens to have a nearly identical emission "curve" to bitcoin which is part of where that belief stems from.

Look I'm gonna be real with you, I filled a big (compared to my income level) bag of the big guns [BTC, ETH, ADA, XMR] between 2019 and early 2020 and sold most of it when bitcoin kissed 63k. "have fun being poor!" They said, trying to guilt trip me back into the herd.

Honestly I'm not feeling too fantastic about this market. I think we've had a surge of new investors because of hype, eventually the hype is gonna die and take the ludicrous price gains with it. Maybe Musk or Cuban dumps and creates a giant sell panic and we get thrown into another crypto winter, who knows. But I'm expecting most cryptos to come tumbling far, far down in a year's time. Some have semi-valid reasons for being so far up, like I know Bitcoin is becoming a mainstay with legit financial institutions and there was so much demand for it in late 2020 that exchanges were running out, Ethereum has a ton of new programs being built on the network these days, ~~Monero users hate the world governments~~. But there's others that just don't make sense to me. Like Ethereum Classic which just saw a phat hashrate increase mostly from angry ETH miners... and the network is any more useful than any one of the other hundred dApp chains why? Or Doge where its source of value stems from kids on tiktok saying OMG guys let's pump to 69 cents haha!1!

I like crypto, I like useful crypto, I will buy way the fuck back in if crypto winter sets in again because I know the cycle will repeat, I say if you feel like you wanna prove me wrong and shove your gains in my face in a year go for it, but pay attention to what's driving the value of your favorite projects and be conscious of when it's starting to feel like a bubble rather than legitimately earned gains. You know what I mean? Also, hopefully you're not investing all your extra $ into crypto; you should look at diversifying into other classes. I would say the same thing if you were investing 100% into any other asset class.

Whatever you do, hopefully it works out for you.

masrithrowaway · 2021-05-10T18:24:15+00:00

Doge to the moooooon

Lookinginbetween · 2021-05-10T18:28:40+00:00

Chainlink and Ethereum based coins, are a good bet as well as some stablecoins while your at it.

Rooftopred · 2021-05-11T13:42:08+00:00

Been looking into Monero and pirate chain lately. Both very privacy oriented coins and the dollar vigilante has been promoting them. Pirate coin has seen some BIG action lately.

EngineeringDry6717 · 2021-05-10T10:40:08+00:00

Scholarshipcoin (SCHO), Bitcoin and Doge

Zathail · 2021-05-10T14:18:48+00:00

If you're in it for the long haul, BTT and XLM are quite interesting and have great practical application

nameless2302 · 2021-05-10T14:54:52+00:00

Dumb question, but how do you start investing in cryptocurrencies?

Also, what are some resources you guys recommend for beginners to learn more about cryptocurrencies?

Title	Crypto
Author	NigelMorgan98
Upvotes	15
Comments	32
Date	May 10, 2021 5:39 AM UTC (5 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/n8wz3a/crypto/
Archive Link	https://theredarchive.com/r/MGTOW/crypto.757963 https://theredarchive.com/post/757963

Comments