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Any Crypto aficionados here?


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#21 Sidestreet

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Posted 03 October 2021 - 06:51 AM

I went ahead and got set up with Coinbase.  It was easy and even though users got hacked earlier this year, I'm still comfortable with it.  I switched over to Coinbase pro, where fees are lower.


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#22 Sidestreet

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Posted 06 October 2021 - 03:18 AM

Anyone happen to catch that Shiba Inu wave?  I had twenty bucks in it and made another twelve (baby steps).  If it drops back down I might put just a little more into it.  I still think it has no long-term prospects, but it's one of those "famous for being famous" things.

 

When I got out I moved that little bit over to Ethereum.

 

https://www.bloomber...-help-from-musk


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#23 roc

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Posted 08 October 2021 - 06:28 AM

Anyone happen to catch that Shiba Inu wave?  I had twenty bucks in it and made another twelve (baby steps).  If it drops back down I might put just a little more into it.  I still think it has no long-term prospects, but it's one of those "famous for being famous" things.

 

When I got out I moved that little bit over to Ethereum.

 

https://www.bloomber...-help-from-musk

I scored on having $100 in and did the same thing... l left my original on and moved the gains over to ethereum.


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#24 Micogi

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Posted 20 October 2021 - 02:51 PM

Looking for some input on what I should do.

A while back when PayPay started offering crypto I bought some BTC and ETH.

PayPal does offer now you can pay with crypto, but my goal is protecting against inflation/USD collapse.

I'd like to move it, but to move I'd have to sell, transfer funds, then buy somewhere else.

After hearing about Vast Bank, they have FDIC crypto, I'd opened an account, but unable to add to my PayPal.

In thinking though, in the case of a complete meltdown, FDIC protection probably won't mean didley.

I've looked at hardware wallets/cold storage, but for having less than $1k in crypto the fees really start adding up. Fee to sell crypto in PayPal, fee to transfer funds from PayPal, fee to buy crypto. And from there I'm not certain how it goes sending crypto from an online wallet to hardware wallet/cold storage.

I do have a CoinBase account I setup to purchase my spore syringe awhile back.

 

Being unemployed currently, I may buy more crypto but as of now I'd say it's unlikely. 

 

Any thoughts, input, or recommendations appreciated!



#25 Sidestreet

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Posted 22 October 2021 - 03:16 AM

I'm still new to this myself, but my thought is: is there no way to transfer crypto directly from the Paypal wallet to another wallet you own?



#26 Micogi

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Posted 22 October 2021 - 07:48 AM

I'm still new to this myself, but my thought is: is there no way to transfer crypto directly from the Paypal wallet to another wallet you own?

 

I don't believe so, I'll have to double check though. I can use crypto as a funding source however when checking out with PayPal. Being I can do that now, I'm probably just going to buy more silver at Golden State Mint which has PayPal as a payment option.

And then whatever's leftover I'll just leave in PayPal, thinking like 100 bucks or so just to keep a little somethin somethin in it.

I'm fairly new myself, I've bought/sold but as far as keeping, wallets, online/offline storage goes beyond my knowledge and even searching hasn't cleared it up enough to where I feel ready to take action.


Edited by Micogi, 22 October 2021 - 07:50 AM.


#27 TVCasualty

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Posted 24 October 2021 - 01:12 PM

Anyone have any thoughts about XRP?

 

It might get really interesting in January, I hear.


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#28 Sidestreet

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Posted 27 October 2021 - 03:33 AM

This is the first time I've looked into XRP/Ripple.  It just took a nose-dive in the last day or so, which could be an opportunity...  It's interesting how the creators have so much control over the supply.  What I read says they set up an escrow account to increase transparency, but are they setting themselves up for a massive benefit if it takes off?

 

It also looks like its transaction speed is good, which seems to be one advantage over Bitcoin long-term.  That's the same reason I think Ethereum is poised to do very well vs. Bitcoin at some point--my rudimentary understanding is that Bitcoin's transaction speed is much too slow to make it very scaleable.


Edited by Sidestreet, 27 October 2021 - 03:41 AM.

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#29 TVCasualty

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Posted 28 October 2021 - 01:43 PM

I get the impression that the SEC lawsuit is going in Ripple/XRP's favor and that if/when it gets relisted on major exchanges it will rise significantly.

 

But since it's crypto, I should add "...or not."

 

 

I see that it's up today, but so are a bunch of coins. Pump and dump in progress? Some whales dumping/cashing out Shiba Inu from yesterday and buying the dips in Etherium, BTC, Doge, etc.? When the lawsuit is finally over and done with there might be a mega-dump of Bitcoin as the whales get in on the ground floor of XRP and maybe even Shiba Inu though I suspect that many of the almost-a-joke coins like Shiba and Doge will tank and vanish eventually.

 

What a crazy, chaotic market, lol. Perfect for mostly-clueless amateurs like myself to play like I'm in Vegas!

 

I'm up 600% as of this reply from a modest investment I made back in January. I will probably be back down to only up 100% or so by this evening, lol. It's fun either way since it was definitely a MODEST investment that I could lose all of without it causing me any financial problems (just like how to survive Vegas!).

 

 

I'm starting to wonder how all these crypto currencies will fare in the face of quickly rising inflation. Will people put more money into them or will most people cash them out into dollars so they can afford to buy increasingly expensive gas and groceries?

 

 

 

And is all this inflation just Big Capital's way of punishing We the Peasants for not wanting to work for shit wages anymore like they expect us to?


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#30 TVCasualty

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Posted 28 October 2021 - 06:44 PM

Do y'all think this thread should be merged with this other crypto thread: https://mycotopia.ne...icionados-here/

 

...so all the crypto-heads can be part of both conversations?


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#31 Sidestreet

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Posted 29 October 2021 - 03:31 AM

Merged.

 

Just read up a bit on the Ripple lawsuit.  It DOES raise good questions: is cryptocurrency digital currency, or a security, or as I've heard one tax agent describe it, a commodity?  And if the SEC has provided muddy guidance on that question, can the Ripple folks win that lawsuit?  What precedent will it set?  What further regulation will it spawn? 

 

Shiba Inu is cracking me up.  It's an upstart and has now totally exploded upwards twice for no real reason.  It's just famous for being famous, like Paris Hilton.  Potentially, I think it could go much higher, but eventually will go the way of...well, Paris Hilton.

 

Yeah, crypto markets have been fun for me so far, too.  But you're totally right to compare investing in them to going to Vegas.  I wouldn't even call it investing.  More like speculating, especially if you're looking at a short time-horizon.  But, I think it looks more like investing if you think in terms of years rather than months.  I don't think this stuff is going away, so if I pick a few that will have staying power for whatever reasons, I'm hopeful that I could do very well over 3-5 years and beyond. 

 

It still seems like it's all in its infancy, or maybe adolescence at this point.  In the meantime, it's definitely not boring!


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#32 FLASHINGROOSTER

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Posted 29 October 2021 - 01:53 PM

Squid coin, that about sums up the current zeitgeist that is digital currency. Just hope you hop on the train while its going up hill rather than down.



#33 Ipsofatso

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Posted 29 October 2021 - 11:41 PM

I’ve been making my first steps into cryptos are his year. I’ve been watching them for quite some time and, of course hindsight is a wonderful thing, kick myself for not making a trip over to a local ATM that offered Ethereum and grabbing a few. I recall that the price was about a tenth of todays.
I bought some Dogecoin and sold for about break even just after Musk made a derisory comment on Saturday Night Live about them. I bought some of the alt coins Safemoon and Eclipse. But their prices dumped same time as BTC and are about a third now. I’ve hung onto these and they’re finally regaining some ground and edging up. I think the large % of alts are going to circle the drain and disappear or just end up rug pulling and dumping investors. But having only a couple of hundred invested it’s worth hanging on for a year or so and seeing what happens.

#34 roc

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Posted 30 October 2021 - 11:30 AM

Crypto has been good to me of late.

I got started with it to buy from an online dispensary and pay for myco supplies with a handsome 10-20 percent discount.

I left 65 bucks in it a couple of years back and have 850 bucks right now.

 

I see a value in it for more than making / losing money and that is an anonymous form of payments.

 

If you want a chance at making money then follow what's happening with Musk of Tesla, Dorsey of Twitter, and ZuckerFuck of Fakebook as they are moving ahead with taking crypto and it's not going away anytime soon.


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#35 Neptunechild

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Posted 30 October 2021 - 08:43 PM

Namaste,

 

I retired last year thanks to crypto.

It's been a long journey for myself tho, I got into it via SilkRoad in 2013, but we didn't buy it to speculate on it or as an investment, but simply to use darknet markets.

It went up quite hard in 2013 and then started to crash, I took some time to learn about it in 2014 and found it very interesting. I didn't understand how the core tech works, i'm not really tech-savvy but I understod the base fundamentals and functions of blockchain.

 

Around the ETH ico in 2015 I started to invest again but I didn't sell and got rekt in 2017, lol. Learning from that mistake however, I took profits on the entire way up this bullrun and the rest is history.

 

It's also a blessing living where I live where you pay 0 income tax on cryptogains unless you are an active trader and it's your income, which for me it's not.

 

 

It's also one of the main reasons why I was not around here for several years, lot's of stuff changed and I was able to afford a new life and help people.

 

As for my investment strategy; I have most my money in bitcoin and ethereum, around 75%, the rest is split up in dozens of altcoins that I've been buying forever.

I do not buy and speculate on meme-coins. I know there is a lot of money to be made there, but I simply have no time to check the charts daily, I consider cryptocurrencie something groundbreaking and I don't like to gamble with it.

 

yeah


Edited by Neptunechild, 30 October 2021 - 08:44 PM.

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#36 TVCasualty

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Posted 01 November 2021 - 03:09 PM

Namaste,

 

I retired last year thanks to crypto.

It's been a long journey for myself tho, I got into it via SilkRoad in 2013, but we didn't buy it to speculate on it or as an investment, but simply to use darknet markets.

It went up quite hard in 2013 and then started to crash, I took some time to learn about it in 2014 and found it very interesting. I didn't understand how the core tech works, i'm not really tech-savvy but I understod the base fundamentals and functions of blockchain.

 

Around the ETH ico in 2015 I started to invest again but I didn't sell and got rekt in 2017, lol. Learning from that mistake however, I took profits on the entire way up this bullrun and the rest is history.

 

It's also a blessing living where I live where you pay 0 income tax on cryptogains unless you are an active trader and it's your income, which for me it's not.

 

 

It's also one of the main reasons why I was not around here for several years, lot's of stuff changed and I was able to afford a new life and help people.

 

As for my investment strategy; I have most my money in bitcoin and ethereum, around 75%, the rest is split up in dozens of altcoins that I've been buying forever.

I do not buy and speculate on meme-coins. I know there is a lot of money to be made there, but I simply have no time to check the charts daily, I consider cryptocurrencie something groundbreaking and I don't like to gamble with it.

 

yeah

 

Well that's pretty cool.

 

So who has the lowest transaction fees?

 

I'm still getting my bearings and don't want to get taxed by excessive fees so I haven't made very many moves yet (my profit so far comes from mostly holding what I bought almost a year ago).

 

And what other question(s) should I be asking about crypto but ain't (yet)?

 

I'm ready to retire!


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#37 Neptunechild

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Posted 01 November 2021 - 10:56 PM

Nano has no transaction fees. You can bridge Ethereum and erc20 tokens to polygon or a L2 like arbitrum for lower fee's aswell.
Personally I belive we are approaching a cycle top in a handfull of months or less, not sure. 

I don't know what's the better call for you right now i.e buy in more now or wait for a bearmarket.

 

Usually bitcoin has hype cycles about 1.5years onwards after it's inflation cut every 4 years, followed by a 2 year-ish bearmarket...

Right now I'm just dollar-coast average buying into bitcoin and ethereum until the market tops. We are in a severe bubble once again and it's gonna pop. But the following bearmarket probably won't be as severe as the ones we had before now that several tokens have an actual usecase. We'll see.


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#38 Sidestreet

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Posted 02 November 2021 - 03:26 AM

 

I don't know what's the better call for you right now i.e buy in more now or wait for a bearmarket.

 

I'm still new to crypto and to standard investing, but if you really think crypto is here to stay; and the price will be much higher than it is now at some point; and you have a time horizon of years, you could continue dollar-cost-average into it by buying at regular intervals as the price declines.  That way you would be sure to capture the benefits of any bear market.  You would just have to have the stones to keep buying as the price declines, so if you do this you better have conviction that the price will come back up and push even higher.  For a lot of people, crypto may be too speculative for this practice.  This would help you avoid trying to time the market and possibly getting it wrong.

 

That said, if I already had enough to retire on, I'd probably pull most of it out of crypto now.  Safety first.

 

This is not financial advice and I have no idea whether it's a good idea or not.  I started learning about investing like a month ago.  Do whatever you want.  :biggrin:


Edited by Sidestreet, 02 November 2021 - 03:34 AM.


#39 Mushinist

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Posted 02 November 2021 - 07:12 AM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady.
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#40 Salty117

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Posted 02 November 2021 - 07:54 AM

I bet you're feeling the gains from the Shiba Inu rally this month Sidestreet

I was later to the crypto space than I ever really wanted to be, but I have been hodling Shiba Inu token since the end of September. The dev team for that token is trying to do some really neat stuff, it's just viewed as a "Dogecoin Wanna-be" but when you actually dig into the things the dev team is striving towards it quickly becomes clear that Shib has something Doge took years to sort of accomplish and that's put together a roadmap for growth. It's a deflationary token, whereas Doge is an inflationary token.

"Shibarium" Shib specific block-chain is in the works, tentatively being implemented at the end of this year. NFT games and NFT name changes have a token burning functionality to them to reduce supply over time.. after the latest rally they 

 

Patterns can form, but they do not have to repeat. SHIB is certainly forming a pattern that's pretty easy to view on the 30min graph, here's the last 3 rallys that SHIB went through this year.

 

Here's the August "rally" it had a nice little run.. takes a breather for a little bit...

SHIB 2021 August rally.jpg

 

And then BAM another rally followed by a gentle, but not plummeting cool off period but still maintaining value above it's previous stable levels.

SHIB september rally.jpg

 

Here's the early october rally..

SHIB early october rally.jpg

 

And the latest rally from about a week or so ago

SHIB oct rally.jpg

 

Patterns can form, but they don't have to repeat... but with some positive catalysts ahead this token has the potential to reach greater heights I believe. I'm also not a financial advisor so #Don'tSueMeBro but I don't see the dev team putting a stop to their project any time soon.

 

 

 

I'm also planning to hold some Algorand and possibly Polkadot, just waiting for some dips on those cryptos but with SHIB being at such an affordable valuation to load the bag with it is my main investment in the crypto space. They have my conviction the way Palantir has it, strong and looking for that stable growth over time.


Edited by Salty117, 02 November 2021 - 08:05 AM.





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