Ethereum (and other cryptocurrencies)

[Roger Van Zant]

Has anyone here bought any Ethereum?
I am new to cryptocurrencies, but a friend back home recommended buying some of this.
I have an account with BitFlyer, but haven't purchased anything yet.

I wouldn't be buying much. Perhaps 100,000 yen or so, just to "buy it and leave it".

What are people's thoughts on buying cryptocurrencies?

Thanks.

Just read this article:
https://capital.com/ethereum-price-pred ... is%20year.

[RetireJapan]

Been there, done that: https://www.retirejapan.com/blog/2018-c ... cy-update/

[Roger Van Zant]

Been there, done that: https://www.retirejapan.com/blog/2018-c ... cy-update/

Ah, thanks. Will read on my lunch break.

[OkiBum]

I personally own XRP also known as Ripple.

[Kanto]

I feel like such an old man when it comes to e-coins and digital currency.


I trust the technology and math behind them, but I do not trust the exchanges and the storage methods.

Similar issues to buying physical Gold and other PMs I suppose.

I just wish I could buy into a bitcoin ETF that was insured against theft.

[mighty58]

Assuming you're interested in crypto for speculative purposes (and not because you're taking an ethical stand against the global financial services industry or because you need to finance illegal activity) the one big plus for Etherium is that is it heavily traded (2nd after Bitcoin?) and thus offers good liquidity compared to some of the minor coins.

When taking recommendations from friends and acquaintances on things like crypto, make sure you understand what game they're playing. A day trader has wildly different reasons for recommending something vs. a long-term hodler.

[MajesticSoup]

Been there, done that: https://www.retirejapan.com/blog/2018-c ... cy-update/

FYI, the image in that article no longer exists, but I can imagine what it would look like based off of your post date.

Ethereum/BTC has since rocketed. It might be down 50% tomorrow, though. Who knows.

I'm very bullish on BTC and Ethereum, and very skeptical of the rest. Ethereum has some really fascinating use cases, and its economy continues to grow and get stronger. I wouldn't be surprised to see many future transactions between large corporations happen over the Ethereum network over the next 3-5 years. Crypto is largely entirely speculation, but then again, so are a lot of the hot stocks.

[RetireJapan]

FYI, the image in that article no longer exists, but I can imagine what it would look like based off of your post date.

Ethereum/BTC has since rocketed. It might be down 50% tomorrow, though. Who knows.

I know, ha ha. Lucky I'm not into regretting past decisions

[MisoSoup]

Here we go again!


Bitcoin plunged by more than 20% over the weekend - wiping more than $10,000 (£7,395) off the price of a single coin.


The fall puts the cryptocurrency on track for its biggest one-day drop since March, when the COVID-19 pandemic was just beginning to shred global markets.

Bitcoin fell as low as $30,500 on Monday afternoon - its lowest point since 5 January - after reaching a record $42,000 on Friday.

The crash prompted the UK's Financial Conduct Authority to warn that those who invest in cryptocurrencies should be prepared to lose all of their money.

In a statement, the FCA said crypto investments generally involve very high risks - and some investment companies may understate these dangers while exaggerating potential returns.

[Ax6isB]

A while back I discovered Grayscale Bitcoin trust as a relatively easy vehicle for investing in crypto. The bitcoin ticket is gtbc. Looks like they have a ticker for Ethereum as well. Not for the faint of heart but could be a worthwhile hedge to consider. Worth noting that their fees are high (2%).