Cryptocurrency Bubble or here to stay?

Tail Chaser

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Aug 31, 2004
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Use my referral link https://crypto.com/app/8cz324knt3 to sign up for Crypto.com and we both get $25 USD :)

Its a link to crypto.com gives us each $25 to play with... imagine have $25 worth of bitcoin when it started...

Anyway my thought on cryptocurrency is that its better odds than the lottery.

Understand that there are tax considerations!

Anyway who is buying their next tuna chaser in digital coin?
 
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Bottom Line

Village idiot
Jul 9, 2006
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Pocketed $$ day trading Dogecoin the last couple days...

doge.jpg
 
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Tail Chaser

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Crazy isnt it? Wonder if its going to climb really high?
 
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Capt Richie

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Aug 10, 2008
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question since its not what we use as money.. how is it valued ? just all on the market ..its not like a company with real income is it ?

I do know a couple of people that say they make a lot of money with it..But I also hear its not so easy to cash in ?
 
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Tail Chaser

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question since its not what we use as money.. how is it valued ? just all on the market ..its not like a company with real income is it ?

I do know a couple of people that say they make a lot of money with it..But I also hear its not so easy to cash in ?
I am not 100% sure but you are basically buying into a new currency.... traded like stocks as far as the IRS is concerned. The link i posted is to a website or app? That trades crypto. Its stupid easy. Like penny stocks is my thought?
 
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Brad I

Common Sense Isn't Common Enough
Jun 20, 2015
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To me, "there is no "'there' there."

There is nothing at all backing it or valuing it except for a small group of other crypto traders. If tomorrow the world wakes up and decides that its worth half of what it was worth yesterday, well, then it will be worth of yesterday's value.

Arguably something similar can be said about any major currency, but there is a vast magnitude more people who put value and acceptance into major currencies, so barring nuclear war. a 50% overnight drop is not going to happen. And of course, major currencies are backed by "the full faith and credit " of the issuing government. There is no one standing behind crypto, nor any any central bank to monitor and intervene.

Some people will make a lot of money on crypto, some will lose a lot. I'll do neither.
 
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OILAGER

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Apr 27, 2006
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Bottom Line

Village idiot
Jul 9, 2006
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It is the future - you can either get on board now and make some $$ or wait until it's in place - your choice. I look upon it as reading SST's, currents & Chloro charts to find the best fishing...same concept on following cryptocurrency valuations.

My son-in-law bought 2 Bitcoin last year for $10K apiece. He cashed one in last week for $48K (net) and bought a brand new $46K toy hauler.

It's up to you, you can either follow the sportboats or learn how to do it yourself.
 
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Village idiot
Jul 9, 2006
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Tomorrow (4/20) is Doge day and the plan is to push the value to .69 per Doge. It is currently around .30/.40.
 
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Tail Chaser

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My boss bought 60K Doge for $0.004 (not even half a cent)
He is about to pay for a brand new car! And he sold 20K Doge so no matter what he has already made out!
The funny thing is 4 of us at work had crypto currency and until yesterday none of us knew... ha ha
 
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untensan

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Jan 30, 2010
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Weird thing about Cryptocurrency is there is nothing tangible. It reminds me of the Baseball Card frenzy 20 years ago. How can 2 pieces of cardboard that cost the same to make have one worth $0.05 and the other $100,000. The catch word is perceived value. The other thing I learned from dealing sports cards, its worth as much as someone else is willing to pay you. I never got into cryptocurrency because my timing was bad so in some ways I'm envious. I've got enough "vices" with the stock market and Las Vegas. As with anything, I believe everything has an end date, whether its Sears, Penney's, Kmart, Borders, or Enron. The key is to bail before it hits expiration. The problem is, the perceived value. Something I was taught in the stock market. For me to buy a stock because I think its going up, I have to find a seller that thinks its going down. I found that sobering.
 
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Tail Chaser

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The volatility of Crypto is insane!
Daily swings of plus or minus 30% its ripe for the "investment"
 
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Fearlessfiasco

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Jun 5, 2012
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I am no expert but I would say it's basically a media driven pyramid scheme.

The more the MSM talk about it the more people get into it. The more people that get into it the more "value" it builds. When the MSM stops talking about it you should would probably want to have already bailed.
 
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Mr. DRE

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  • Sep 23, 2019
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    Like any pyramid scheme timing is everything. The earlier you get in and the more suckers that get in after you the better you will do. Keep in mind that for every person the makes a million dollars someone else has to loose the equal amount otherwise it does not work. The minute the influx of fresh cash stops is the minute the pyramid will begin to crumble.
     

    Pitchinwedge

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  • Aug 7, 2016
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    question since its not what we use as money.. how is it valued ?

    There is nothing at all backing it or valuing it

    Legalized ponzi.

    Weird thing about Cryptocurrency is there is nothing tangible

    I am no expert but I would say it's basically a media driven pyramid scheme.

    Like any pyramid scheme timing is everything.

    You folks are describing the current and essentially every other past monetary system. Every fiat currency that has ever existed FAILED. Ask yourself this question... why is taxation necessary when the Central Banks have the ability to print unlimited amounts of "money"?

    And... Social Security is the biggest Ponzi scheme ever created. This one's self explanatory.

    BTW, I'm not advocating crypto in any way.
     
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