BigRedBuster Posted October 27, 2022 Author Share Posted October 27, 2022 7 minutes ago, Archy1221 said: For me and the advice I gave my college aged son, was that if you have extra money and you are looking for a grandslam investment with a very high risk, then get some crypto and plan on not looking at for 10 years unless it pops again. It’s not a bad strategy for someone in their 20’s to throw a few thousand into it knowing they have a lifetime of investment opportunities to make that back quickly The bold is important. Sure, if you have a couple thousand you are OK with losing, go for it. I have had a problem with celebrities or others who promote these as great investments. 2 Link to comment
ColoradoHusk Posted November 11, 2022 Share Posted November 11, 2022 I had been curious about investing in crypto currencies, understanding they were high risk investments, and I could lose all the cash invested. Unfortunately, too many people thought the crypto wave from 2021 would go on forever. One of the customers for the company I work for is a cryptocurrency that hit it big for about a year, and has crashed the past few months. It went from $2 to over $200, and has come crashing back down to less than $20. This company was spending over $1M with us a month, but has recently stopped paying our invoices. We think that they don't have much liquidity due to the decline in their price of their cryptocurrency. 1 Link to comment
SECHusker Posted November 12, 2022 Share Posted November 12, 2022 I think cryptocurrency will be a thing once internet matures, maybe into the metaverse, and their is a need for a more universal currency. But right now, I just don't see the point. Link to comment
BigRedBuster Posted November 28, 2022 Author Share Posted November 28, 2022 This is going well. Link to comment
Archy1221 Posted December 13, 2022 Share Posted December 13, 2022 12 minutes ago, BigRedBuster said: Well done Biden DOJ. I retract my earlier criticism. Let’s get this a$$h@!e convicted and put in jail for a long long long time. 1 1 Link to comment
Born N Bled Red Posted December 13, 2022 Share Posted December 13, 2022 4 hours ago, Archy1221 said: Well done Biden DOJ. I retract my earlier criticism. Let’s get this a$$h@!e convicted and put in jail for a long long long time. 1 1 2 Link to comment
Archy1221 Posted December 13, 2022 Share Posted December 13, 2022 11 hours ago, Born N Bled Red said: 1 1 Link to comment
NebraskaHarry Posted December 13, 2022 Share Posted December 13, 2022 3 minutes ago, BigRedBuster said: Tom's not having a good year. 2 Link to comment
BigRedBuster Posted December 14, 2022 Author Share Posted December 14, 2022 So, this whole FTX thing is going to be interesting. Cryptocurrency has prided itself as being free from government regulation and control. So, now a guy basically stole everyone’s money and people want government involved. To some extent, this will force government to put in regulations. And, that’s what crypto fans don’t want. 1 Link to comment
RedDenver Posted December 14, 2022 Share Posted December 14, 2022 14 hours ago, BigRedBuster said: So, this whole FTX thing is going to be interesting. Cryptocurrency has prided itself as being free from government regulation and control. So, now a guy basically stole everyone’s money and people want government involved. To some extent, this will force government to put in regulations. And, that’s what crypto fans don’t want. I originally thought cryptocurrencies made sense, but I've learned more about the history of money policy and currencies and think cryptocurrencies are a terrible idea. Plus cryptocurrencies take a large amount of energy because of the need or many redundant calculations whereas a bank can do a much simpler calculation once. I think large institutions like governments and banks will implement regulated blockchain transactions, which will eliminate the advantage of cryptocurrency except for criminal enterprises, tax evaders, and anti-government fanatics. Link to comment
BigRedBuster Posted December 14, 2022 Author Share Posted December 14, 2022 21 minutes ago, RedDenver said: I originally thought cryptocurrencies made sense, but I've learned more about the history of money policy and currencies and think cryptocurrencies are a terrible idea. Plus cryptocurrencies take a large amount of energy because of the need or many redundant calculations whereas a bank can do a much simpler calculation once. I think large institutions like governments and banks will implement regulated blockchain transactions, which will eliminate the advantage of cryptocurrency except for criminal enterprises, tax evaders, and anti-government fanatics. What do you think blockchain transactions would do for banking? Link to comment
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