Cryptocurrencies

[fools_gold]

I started with less than 1% of my portfolio, just before the recent crash, lol. I do NOT plan to rebalance or buy more.

40% Bitcoin - 40% Ether - 20% XRP.

Bitcoin for the market cap, Ether for the utility, XRP for the environmental factors. I was trying to be a pragmatic as possible, but it is still a speculative investment.

I almost bought in after the latest crash. I even registered with an exchange before deciding it wasn't for me. With stocks and bonds there are pretty reliable methods for valuing them. With cryptocurrencies I have absolutely no idea how much they are worth, if anything. Like you say, they are purely speculative.

[Cracaphat]

I bought some stocks way back when.Took me 15 years to get my money back and profit.But I bought some Cryp coins in April and after dealing with the ebbs and (f)lows,I just can't go back to vanilla stocks.Even though I'm down now,and don't throw good money after bad,I'm good as is.

[Established]

I bought some stocks way back when.Took me 15 years to get my money back and profit.But I bought some Cryp coins in April and after dealing with the ebbs and (f)lows,I just can't go back to vanilla stocks.Even though I'm down now,and don't throw good money after bad,I'm good as is.

IMO you have made an argument for index funds not Crypto.

If you put $10,000 in VTI in 2002, it would be world $61,000 now.

Stop hunting for needles, buy the haystack.

[Cracaphat]

I bought some stocks way back when.Took me 15 years to get my money back and profit.But I bought some Cryp coins in April and after dealing with the ebbs and (f)lows,I just can't go back to vanilla stocks.Even though I'm down now,and don't throw good money after bad,I'm good as is.

IMO you have made an argument for index funds not Crypto.

If you put $10,000 in VTI in 2002, it would be world $61,000 now.

Stop hunting for needles, buy the haystack.

But now isn't 2002 and if you find the right needle you'll be laughing.Everyone's level of tolerance/risk differs.I wanted to try something different and put in a few coins(pun intended) to see where the chips fall.

[JapaneseMike]

I bought some stocks way back when.Took me 15 years to get my money back and profit.But I bought some Cryp coins in April and after dealing with the ebbs and (f)lows,I just can't go back to vanilla stocks.Even though I'm down now,and don't throw good money after bad,I'm good as is.

'I'm down now' and 'I don't throw good money after bad' are the things you expect to hear around a poker table, this kinda sums my approach to crypto now. I know there's a lot of people doing it, and I'm sure some of them are making great money. I love going to casinos to play cards, and I'll do it with money I can afford to lose. I guess next time I'm considering going to a casino with some 'burn money', I could take a spin on crypto instead...

[Cracaphat]

I bought some stocks way back when.Took me 15 years to get my money back and profit.But I bought some Cryp coins in April and after dealing with the ebbs and (f)lows,I just can't go back to vanilla stocks.Even though I'm down now,and don't throw good money after bad,I'm good as is.

'I'm down now' and 'I don't throw good money after bad' are the things you expect to hear around a poker table, this kinda sums my approach to crypto now. I know there's a lot of people doing it, and I'm sure some of them are making great money. I love going to casinos to play cards, and I'll do it with money I can afford to lose. I guess next time I'm considering going to a casino with some 'burn money', I could take a spin on crypto instead...

Absolutely.The key being, money you can afford to lose without regret.When I went to a casino in Vegas,I luckily won 200 bucks,but it was because a regular player sitting at the table tipped me off.Unless you're a big "whale" in crypto,you don't get any heads up.But I didn't go outside Japan for 2 years because of the pandemic, which otherwise I would have done so it's all good regardless.Lose money travelling abroad or in speculation.One has a chance of getting back...lol.

[Cracaphat]

It's been more than three years since cryptocurrency was last discussed on here. And I made the last comment! Well, the so-called "Crypto Winter" is disappearing or was it the Trump election victory, that has the market looking up again. Have people left crypto, DCAing, sitting on their hands or been waiting it out in that time? Or any new entrants/converts in the space? Do people still believe it's a scam or have learned that it has real world usage potential? Even Trump went from being anti-crypto in his first term, to now being proclaimed the BC president-elect! Any thoughts?

[sutebayashi]

I assumed Trump went positive on crypto to broaden his potential camp of voters - political expedience? And I read he has some business interest in it now too.

I still watch cocoa and coffee prices more closely… but good fortune to anyone dabbling in crypto!

I don’t see a lot of real world usage potential… to be honest. When might I actually find it useful, above existing alternatives? Not sure

[Bubblegun]

It's been more than three years since the cryptocurrency was last discussed on here. And I made the last comment! Well, the so-called "Crypto Winter" is disappearing or was it the Trump election victory, that has the market looking up again? Have people left crypto, DCAing, sitting on their hands or been waiting it out in that time? Or any new entrants/converts in the space? Do people still believe it's a scam or have learned that it has real-world usage potential? Even Trump went from being anti-crypto in his first term, to now being proclaimed the BC president-elect! Any thoughts?

And if we did buy them, what is the tax liability? One of my students bought some years ago. Made a profit but said NEVER AGAIN. I just don't see it.
I see Musk pumping his Doggy coins. And I wonder...Do we have to con men in government now? I don't mean political con men.LOL. But real, investor, pump and dump, con men? Clearly, Musk has a vested interest in it, along with Tesla and Space X and loves government subsidies and contracts,along with some legislation. But I'm sorry.I just don't see what it does apart from being a pyramid scheme. I'll stick with Buffet's theory. If it's outside my sphere of competence, I leave it. And that's how I feel. Pretty incompetent in that area. I understand Apple, Boeing, Ford, Google, Raytheon, BAE, and things that go boom. Doggy coins and Musk are well outside my sphere of competence. Doge and Dodgy sound similar.

Maybe I'll follow the advice of Dell boy. This time next year, We'll be millionaires. Well, eventually! Just not next year. BTW what happens when they stop mining bitcoins and they've run out? Genuine question.

[adamu]

We need to be into the tens of millions (of yen) to beat the tulips.

I was laughing in 2017. Now it's ¥13.7M