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The Frustration of Ideology: Investing in Cryptocurrency

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posted on Jan, 27 2018 @ 09:02 PM
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a reply to: seasonal

No I really have not done much research and don't mean to stick my uninformed head into the thread to say no way...just attempting to say wait a minute...i give something hard for me to have earned and worth something for something made from thin air that is totally dependent, for the time being on someone else coming behind me and doing the same thing.

Don't get mad at me, as I am still trying to wrap my head around this idea which I like but still wary of at this point. It just confuses me at this stage and like most people I have to be careful with my money and really really don't need to be rich beyond being able to buy what I need and to have most of what I want as riches seem to bring a whole new set of life head aches




posted on Jan, 27 2018 @ 09:03 PM
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originally posted by: Outlier13
No one would believe me if I told them the largest BTC whale in the world is the US federal government. Talk about ideology.

The feds are working on creating a new religion.


I believe it,just look at articles when the value of cryptos takes a dive,there are people defending the cryptos like a religion.

Anything the feds are involved with can't be good,thus I stay away from cryptos.



posted on Jan, 27 2018 @ 09:05 PM
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originally posted by: Mandroid7
a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?


Almost to the point of saying nevermind- Investors come in many flavors. Any investment can be emotionally invested in. Crypto is no diff than gold, silver, land, pharma.



posted on Jan, 27 2018 @ 09:06 PM
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a reply to: VashTheStampede




Anything the feds are involved with can't be good,thus I stay away from cryptos.


None can say with all certainty it was the US federal government.

Since it does deal with cryptography is more likely a project a NSA analyst.

Could have been a hobby project.

Could be an evil Russia conspiracy since that's en vogue.

Regardless.

There's over 1400 hundred crypto's with new ones being added every day.
edit on 27-1-2018 by neo96 because: (no reason given)



posted on Jan, 27 2018 @ 09:07 PM
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a reply to: DJMSN

Ripple (for example) is the same as a program you buy for your computer. Investing in either is very similar, and there is no physical aspect to either, only function.

I have less than 1% of my over all investments in crypto.



posted on Jan, 27 2018 @ 09:07 PM
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originally posted by: seasonal

originally posted by: Mandroid7
a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?


Almost to the point of saying nevermind- Investors come in many flavors. Any investment can be emotionally invested in. Crypto is no diff than gold, silver, land, pharma.


Except land and gold are physically able to kept secure indefinitely,with crypto that is yet to be seen, hard to argue against over a thousand years of human history.



posted on Jan, 27 2018 @ 09:11 PM
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originally posted by: VashTheStampede

originally posted by: seasonal

originally posted by: Mandroid7
a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?


Almost to the point of saying nevermind- Investors come in many flavors. Any investment can be emotionally invested in. Crypto is no diff than gold, silver, land, pharma.


Except land and gold are physically able to kept secure indefinitely,with crypto that is yet to be seen, hard to argue against over a thousand years of human history.


Eminent domain, and FDR confiscated gold and silver.

So no they can't.



posted on Jan, 27 2018 @ 09:14 PM
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a reply to: VashTheStampede

Correct, but all value is only worth what someone is willing to pay you for it.

I have a wide and varied investment portfolio, including crypto.


In my opinion anyone who is not investing in crypto maybe missing another (potentially profitable) leg in their investment strategy. The same as not investing in lead, metals or real estate. I think crypto could be like writing a check to Jeff Bezos in 1997 for some stupid online book thing.



posted on Jan, 27 2018 @ 09:15 PM
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a reply to: seasonal

Well...thank you for the information. I will do some home work and perhaps dip my foot in.



posted on Jan, 27 2018 @ 09:16 PM
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originally posted by: neo96

originally posted by: VashTheStampede

originally posted by: seasonal

originally posted by: Mandroid7
a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?


Almost to the point of saying nevermind- Investors come in many flavors. Any investment can be emotionally invested in. Crypto is no diff than gold, silver, land, pharma.


Except land and gold are physically able to kept secure indefinitely,with crypto that is yet to be seen, hard to argue against over a thousand years of human history.


Eminent domain, and FDR confiscated gold and silver.

So no they can't.

Simplistic answer,assuming that one: That one would co-operate,any force can be flanked and defeated by a smaller more mobile force using the right tactics,this has been for centuries read some history. If you don't want to read history centuries old read of the Battle of Athens of 1946.



posted on Jan, 27 2018 @ 09:20 PM
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a reply to: DJMSN

I would.

Ripple has huge potential. Could it fail yep.



posted on Jan, 27 2018 @ 09:20 PM
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originally posted by: projectvxn
I think when it comes to investing in cryptocurrency


The big problem here is the misuse of standard terms

invest
currency

First of all, it's a "currency" only when it's been accepted as legal tender for buying and selling general goods and services.

So, you've got to examine what can you actually buy and sell with any particular "crypto-currency" ?

The less you can buy, the less like a currency it is.

Then you have to think about the "stability" of the crypto. A currency that can be used to buy a computer or car today, will always be able to buy a computer or car tomorrow, or next year. The true currency is "stable", so storing it is useful. You'll be able to use it again in the future, even if it's value is less due to inflation, or more due to deflation. Still, it's "stable" because once it's accepted in the marketplace, it's always accepted. (Unless the whole nation goes bankrupt like Germany, etc..)

Most countries have determined that "cryptos" are not a currency, but are best described as an "asset" instead. Since, you can't usually buy something with it, you've got to turn it back into some currency, like dollars, to actually spend the crypto. And that is the quality of an asset.

Next, this business of "invest". When you to to the Casino, and put your money into the "slots machines", you're not "investing", you're "speculating" or "gambling".

To "invest" money in something, you must have a "reasonable" chance of expecting a return in the future. There must be some way that you can justify that expectation, based on fundamental parameters. So, when you invest in a stock, you can look at the earnings of the corporation, it's labor costs, it's year-over-year growth in revenues, etc..and come up with a measure of that expectation that you'll get some positive return.

There's nothing in cryptos that give it the character of an investment

It's a crap shoot.

So, this is all a "name game."

Using the "positive" sounding terms with established "respectable" meanings, the crypro architects have created a casino out of nothing. They haven't even built the gaming halls with flashing lights like the real casinos. They've just capitalized on some confusing terminology, and lots of mystical numerology, to create an aura of value.



posted on Jan, 27 2018 @ 09:26 PM
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Some crypto currency is forming partnerships with real world companies. We are at this industries infancy.


AMEX Partners With Ripple For Blockchain Payments
cointelegraph.com...
a reply to: AMPTAH



posted on Jan, 27 2018 @ 09:34 PM
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a reply to: AMPTAH





you can't usually buy something with it, you've got to turn it back into some currency, like dollars, to actually spend the crypto. And that is the quality of an asset.


This is patently false.
Source
There are MANY places that accept cryptocurrency as payment. EDIT: This isn't even a comprehensive list. It's old at that.

There's debit card companies that function on crypto alone and it works anywhere a "normal" debit card would:


There are many examples of goods and services in the real world where the medium of exchange is cryptocurrency. That space is continuing to grow.

It would help if all the people who say stuff like this actually knew something about it.

Seems very much like the gun debate in here.

edit on 27 1 18 by projectvxn because: (no reason given)



posted on Jan, 27 2018 @ 09:42 PM
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originally posted by: Outlier13
No one would believe me if I told them the largest BTC whale in the world is the US federal government. Talk about ideology.

The feds are working on creating a new religion.



You would have to provide evidence. You can tell anyone anything, but believing what you say still has conditions you have to meet.
edit on 27 1 18 by projectvxn because: (no reason given)



posted on Jan, 27 2018 @ 09:43 PM
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originally posted by: seasonal

originally posted by: Mandroid7
a reply to: seasonal

Tesla no, musk yes.

What is your point?

That you should get emotional about investing?


Almost to the point of saying nevermind- Investors come in many flavors. Any investment can be emotionally invested in. Crypto is no diff than gold, silver, land, pharma.



We are on a different wavelength dude. I trade half-million dollar homes. I used to day trade for fun. I look at every type of business imaginable for new investments. From small biz up to manufacturing.

Not trying to be brag-a-douchous, but I am not a new investor.

The number one rule in investing is don't get emotionally invested in investments.

People get angry when they are questioned about bitcoin on here, and around the net.

It was my only point to the "emotional investment"

You go to buy a house, don't buy it because it's cute, going to make you rich, the perfect lot, and it's everything you ever wanted.

Buy it because it passed inspection, it's not on a sinkhole, a flightpath, downwind from a sewar treatment plant, or landfill, flood, on a fault line, no leins, no assessments, and it's cute, going to make you rich, the perfect lot, and it's everything you ever wanted.

That's the "emotional" term I am talking about.

The noise moves the new investors around. This market is bursting at the seams with noise and new investors.



posted on Jan, 27 2018 @ 09:51 PM
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a reply to: Mandroid7

I think the problem is that you're new to unregulated markets.

Some of us aren't.

You also haven't bothered to understand what blockchain is, how it works, and who is actually out there making these things happen.




People get angry when they are questioned about bitcoin on here, and around the net.


You've done zero questioning. You HAVE made assertions that are based on nothing. That is usually going to get you a bit of hostility because instead of using the power of the internet to learn, you use it to pontificate on a subject you actually know very little about.



posted on Jan, 27 2018 @ 10:03 PM
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a reply to: projectvxn

Damn, how much you in for?

Added...

What part is acually unregulated?

The value is in the stock price, is it not?


edit on 1 by Mandroid7 because: added



posted on Jan, 27 2018 @ 10:13 PM
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This is exactly what I mean.

You display ignorance in your pontification make grandiose statements to your "experience" and believe your opinions equivalent to facts.



posted on Jan, 27 2018 @ 10:17 PM
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originally posted by: projectvxn
a reply to: AMPTAH





you can't usually buy something with it, you've got to turn it back into some currency, like dollars, to actually spend the crypto. And that is the quality of an asset.


This is patently false.
There are MANY places that accept cryptocurrency as payment. EDIT: This isn't even a comprehensive list. It's old at that.

There's debit card companies that function on crypto alone and it works anywhere a "normal" debit card would:


There are many examples of goods and services in the real world where the medium of exchange is cryptocurrency. That space is continuing to grow.

It would help if all the people who say stuff like this actually knew something about it.

Seems very much like the gun debate in here.



Well, ok.

Let me rephrase my argument a bit.

I buy lots of equipment, computer equipment, electronics gear, audio equipment, books etc..and I pay for things like car insurance, car service, auto parts, home insurance, electricity bill, etc..and I buy groceries, go to restaurants, the cinema sometimes, etc..pay for internet broadband service, telephone services..etc..

There isn't a single thing that I buy, that's available to me by using crypto-currencies. No places I shop accept it, I order lots of things from Amazon.com, they don't accept it, I use ebay.com, they don't accept it, I can't find any of my usual retailers or suppliers that will allow me to shop using bitcoin or any other currency.

So, in my world, these cryptos are useless.

Now, maybe if I hunt far and wide, I'd find a place that I could use cryptos, though not sure they have anything I'd want to buy there.

When crypto-currencies enter my world, I'll pay attention to it. At the moment, even my bank wouldn't allow me to send and receive money to and from any crypto-site. So, I'd have to investigate using another bank.

At the moment the "hassle" factor, in attempting to buy cryptos and use them is too large for me to bother.

I see all these news reports of placing accepting cryptos as "marketing". I also read that many places start to offer cryptos, then soon after stop offering the service, because there aren't enough consumers shopping there with the currency, and while they "explored" the idea, there's no follow through. So, one day you can buy with your crypto, and the next day you go back, they say sorry, no longer accepting the currency.

Find me a stable marketplace that isn't just "experimenting" and "exploring" the use of these things.

edit on 27-1-2018 by AMPTAH because: (no reason given)



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