Who's into Bitcoin or Other Crypto???
Litecoin has already gone up $100 since I bought it yesterday. I wish I would've bought more. I think as long as you're well diversified it's fun to ride the wave for now.
I got into bitcoin late last year and my holdings are up 2000%. I’m looking to liquidate some of that into real estate but I don’t want to sell and covert to cash hopefully can work with a bank who will accept crypto as down payment
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I know someone that thought they'd check it out; and invested 500 last week; and sold it yesterday, gaining a 1000 profit. He thinks it traditionally falls during 1st part of year, and wants to watch it. However; California is legalizing pot sales after January, and banks can't take the money so many believe it will go into crypto currency. There's also rumors California is going to start a banking system for pot profits.
@Luke Mitchell - Congratulations on your first crypto investment! I feel like investing now is still a good time to get in. My end route is still real estate but I feel this could be a once in a generation opportunity to make crazy returns to throw into real estate. Ripple is the crypto I'm all about. I recommend checking it out. I've been investing in it since August 2017 at 17.5 cents. As I write this it's at $1.13 today and I truly believe it has a lot more room to grow. Crazy times we live in!!
I have bitcoin, xRP, ADA, TRX, IOTA, LTC, BTC, ETH
Look in to ripple folks, got in at .24 now it at 1.00
Hope you guys took my advice :) Ripple is at 2.30 now!!
Take a look at TRX guys!!!
I prefer Schrute Bucks and Stanley Nickels
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I'm having fun with it and believe it's here to stay in one format or another. I bought 1.15 BTC in December of 2016 and sold it at the end of November 2017 for a handsome profit. Immediately after selling it went to almost $20k, however, and I felt like I had made a mistake. Then, the Friday before Christmas many cryptos meted down and I put most of my BTC earnings into ETH which has more than doubled. I kept my original investment in cash, however, so in the unlikely event that something goes terribly wrong, I haven't lost any money.
Here's a few considerations:
1) Taxes. I blogged about this last September. I won't be selling my ETH until I've owned it more than 12 months.
2) Only put money in that you can afford to lose.
3) Expect it to go down periodically
4) Expect some other random crypto to outperform whatever you buy.
Just my $.02
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@Luke Mitchell I own some crypto. I also own real estate. They both have their advantages. I like real estate because you get income and get to retain your entire original asset. I like crypto because I bullishly think the lows are getting higher and higher. If you can numb yourself to the volatility you'll do well. It's still super early. I like platforms for already launched products like Ethereum, Stellar, OMG and Storj. I follow Dave Levine on YouTube. Good luck!
Hello everyone! Sorry for reviving this thread but I have been into crypto for several years now and recently got setup with miningstore.com. If you have any questions about cryptocurrencies or cryptocurrency mining please do not hesitate to reach out.
I am just jumping in on this thread. Looks like it has been a few months but wanted to throw my two cents in @Jerry Shen We are doing Bitcoin transactions here in the Front Range, including Denver. Not sure if you have already found any connection to assist you... Feel free to reach out and I will connect you with the bank that does the crypto transfer and the title company that underwrites the closing.
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Yeah, I’m guessing those getting in around the beginning of the year aren’t as exicited as they were then.
@Luke Mitchell, @Layla Lucas, @Jerry Shen, @Karen Margrave, @James Allen, @Taye N., @Bob Langworthy, @Jonathan R., @Liam M., @Sandi Storck, @Wayne Brooks Is it just me, or does anyone else on this site recognize how the crypto currency boom and bust bubble has followed the same pattern as the dot com boom and bust bubble?
In the 90’s the Internet was started by a bunch of computer geeks. A few years go by and then the Internet gets a large boost in growth due to people who are looking for anonymous chat rooms, pornography, or other types of behaviors in which people want to remain anonymous. Then people figure out that people can make money online and then everybody wants to be a part of it. But that only lasted a short while until people figured out that many of these dot com websites had no business model. And then people started selling off causing the dot com bubble to burst. However, within a few years, the Internet gained traction until it hit mass adoption. The concept was good but the implementation the first time around did not work. The concept had to make sure, and the details had to be re-worked, but ultimately it hit mass adoption.
Crypto currency has followed the same pattern. It was created by a bunch of computer geeks. Then it was used for underground or immoral types of activities. Then people figured out that crypto currency could become a viable form of currency and that the concept had real value. As people saw that, they started to put money into crypto currency. Then because of FOMO (fear of missing out) tons and tons of money went in to the crypto currency market without thinking about the sustainablity of the specific coin that people were investing in. After realizing the most of the coins had no business model and it was all speculation, the crypto currency bubble burst last year losing 80% or so of its inflated value.
Now crypto is positioned to do what the internet did in the 2000’s. It is ready for mass adoption. According to some of the experts in the crypto field, in order for mass adoption to happen, there needs to be a crypto that solves the 5 problems that it faces today.
1. Transaction processing on average is too long
2. Transaction fees are too high
3. The price needs to be stabilizable
4. The specific currency needs to be accepted by enough merchants to make it worth using by a customer
5. In order for enough merchants to be willing to accept it, there needs to be enough people using that specific currency.
Once all of these problems get solved, whichever crypto currency can make this happen will dominate the market.
Originally posted by @Shiloh Lundahl:@Luke Mitchell, @Layla Lucas, @Jerry Shen, @Karen Margrave, @James Allen, @Taye N., @Bob Langworthy, @Jonathan R., @Liam M., @Sandi Storck, @Wayne Brooks Is it just me, or does anyone else on this site recognize how the crypto currency boom and bust bubble has followed the same pattern as the dot com boom and bust bubble?
In the 90’s the Internet was started by a bunch of computer geeks. A few years go by and then the Internet gets a large boost in growth due to people who are looking for anonymous chat rooms, pornography, or other types of behaviors in which people want to remain anonymous. Then people figure out that people can make money online and then everybody wants to be a part of it. But that only lasted a short while until people figured out that many of these dot com websites had no business model. And then people started selling off causing the dot com bubble to burst. However, within a few years, the Internet gained traction until it hit mass adoption. The concept was good but the implementation the first time around did not work. The concept had to make sure, and the details had to be re-worked, but ultimately it hit mass adoption.
Crypto currency has followed the same pattern. It was created by a bunch of computer geeks. Then it was used for underground or immoral types of activities. Then people figured out that crypto currency could become a viable form of currency and that the concept had real value. As people saw that, they started to put money into crypto currency. Then because of FOMO (fear of missing out) tons and tons of money went in to the crypto currency market without thinking about the sustainablity of the specific coin that people were investing in. After realizing the most of the coins had no business model and it was all speculation, the crypto currency bubble burst last year losing 80% or so of its inflated value.
Now crypto is positioned to do what the internet did in the 2000’s. It is ready for mass adoption. According to some of the experts in the crypto field, in order for mass adoption to happen, there needs to be a crypto that solves the 5 problems that it faces today.
1. Transaction processing on average is too long
2. Transaction fees are too high
3. The price needs to be stabilizable
4. The specific currency needs to be accepted by enough merchants to make it worth using by a customer
5. In order for enough merchants to be willing to accept it, there needs to be enough people using that specific currency.
Once all of these problems get solved, whichever crypto currency can make this happen will dominate the market.
I know I sold all of mine within about a month from my earlier BP posts, thank goodness, may have broken even or lost a little, but rolled it into a better return, at least in the meantime.
I like your post. One of the other major problems crypto faces not on your list before mass adoption, theft. Exchanges getting hacked, people robbed, investors fear they will lose their crypto or others will and the value will take a major dive; no fdic in this space. I’d consider buying again, but I‘d need to eat blood pressure medicine with my Cheerios, and I’m 34! Regardless, I still have fomo on the space. Oh well, if I miss the boat too badly at least I’ll have hard assets, real estate, and you can’t make more land. I’ll just have to redo my leases and say Bitcoin, Ethereum and Stellar Lumens accepted. What crypto do you like (just curious)?
@Jonathan R. I am not much of a speculator when it comes to investing. I like to buy things where my net worth goes up immediately upon purchase. That’s how we do most of our real estate investing. When it comes to crypto currency, there isn’t one on the market currently that has solved all five of those problems. So I am waiting for that one to be created.