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Crypto!

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Xanth

So... I thought I'd take this general chat to it's LIMITS!!

I started recently "investing" in cryptocurrency!  Anyone else into this too?  :)

Just curious!

Nameless

I've thought about it but am totally lost on exactly how. I had a friend who invested for a while then cashed out. He got nervous and hasn't reinvested. What do you think so far?
Remember, You came here to this physical earth to experience it in its physical form. NPR will always be there.

LightBeam

That sounds very much like a pyramid scheme to me. But that's just my opinion. I could be wrong. Good luck!
"The problem is not the problem. The problem is your attitude about the problem."
Captain Jack Sparrow

Bob_the_floater

Been in crypto since mid 2017, spot trading BTC on high timeframe and using alts for scalping/swing trades.
Hopefully, the greed and exploitation of certain of mankind can no longer suppress that which is truth. -Richard E. Byrd

Nameless

Bob you just used about 6 terms I have no idea of the meaning.
Remember, You came here to this physical earth to experience it in its physical form. NPR will always be there.

omcasey

If you have PayPal you can purchase a few types of crypto there. It is easy, and if you're just learning a nice place to begin checking it out.

I got curious about how it works so I bought $20 of bitcoin. Then I bought $100 more.

I keep forgetting to check to see how it is doing. lol

Let me go see. I think it is way down.

Last I checked it was way down.

omcasey

Yep. It is worth just over half what I bought in for. I will leave it there until I am either a millionaire or broke.

Nameless

It could go back up. Cheers to soaring prosperity. :-)
Remember, You came here to this physical earth to experience it in its physical form. NPR will always be there.

Bob_the_floater

Quote from: Nameless on July 16, 2021, 23:29:06
Bob you just used about 6 terms I have no idea of the meaning.

Oops :-D sorry about that..

A spot trade is a non leveraged trade of an asset, for immediate delivery. BTC is the ticker for Bitcoin. Alts = alternative cryptocurrencies, all cryptocurrencies other than Bitcoin. Swing trading is when holding an asset for a period of a few days to several weeks. Scalping is very short-term trading, buying and selling intraday, sometimes only holding for minutes.
Hopefully, the greed and exploitation of certain of mankind can no longer suppress that which is truth. -Richard E. Byrd

Nameless

Thanks for the explanations, that totally clears it up, lol.

But no, really thanks, guess I'm just too old figure this stuff out. How is it working out for you?

Casey, I saw it on paypal but then they started mentioning wallets and my head exploded.
Remember, You came here to this physical earth to experience it in its physical form. NPR will always be there.

omcasey

#10
LOL ...On PayPal you have a built-in wallet, it is the bank account you have the PayPal set up to, where you "cash out to" when you want to move your money from there/paypal to yourself. Or at least I imagine this is how it works. I never really planned on moving the money. I suppose you can also cash out to your PayPal account itself, too.

Bob_the_floater

Quote from: Nameless on July 17, 2021, 01:45:40
Thanks for the explanations, that totally clears it up, lol.

But no, really thanks, guess I'm just too old figure this stuff out. How is it working out for you?

Casey, I saw it on paypal but then they started mentioning wallets and my head exploded.

To put it simply, all I'm doing is buying low and selling high, with the goal of accumulating Bitcoin. With Bitcoin, which is the crypto with the highest market capitalization, I'm holding for long periods of time trying to catch the big moves. Then I use a small percentage of my account to actively trade alts, which are more volatile, big risk and potential big reward.

So far it's working out good, took some big losses the first year, but have recovered nicely and are steadily growing my account.
Hopefully, the greed and exploitation of certain of mankind can no longer suppress that which is truth. -Richard E. Byrd

Xanth

It's been a fun slide down so far... haha
It's part of my investment portfolio now, so I keep adding to the coins I want every month or so.

It's MUCH more volatile than the stock markets, that's for sure.  So if you play the crypto game, you plan for the VERY LONG TERM, because short term is more for losses.  haha