Don't worry, all of the "experts" will ch9me in soon and explain how "it's not really a crash". It was expected, and now is the time to double down.
Don't worry, all of the "experts" will ch9me in soon and explain how "it's not really a crash". It was expected, and now is the time to double down.
aircooled said:1988RedT2 said:I'm verifiably crazy. A fact that some here can vouch for.
Since craziness seems to be a requirement for the crypto investor, I'd like to get started. Are there crypto ETFs? Crypto mutual funds? How do I buy a basket full o' crypto?
The best and most successful way to invest in Bitcoin is to do it 5 years ago.
I just found a startup working on time travel that's looking for investors, I wonder if it's safer than buying cryptocurrency?
Steve_Jones said:Don't worry, all of the "experts" will ch9me in soon and explain how "it's not really a crash". It was expected, and now is the time to double down.
So then, do you feel that crypto is coming to an end?
In reply to FatMongo :
I don't think it will ever end, I just think a lot of people just lost money they shouldn't be gambling with. If you think crypto is "an investment" not a gamble, you're wrong.
Steve_Jones said:Don't worry, all of the "experts" will ch9me in soon and explain how "it's not really a crash". It was expected, and now is the time to double down.
It doesn't matter if you're a bear when it starts going down or a bull when it starts going up: One of the quickest ways to looking like a fool is rushing to be the first to say 'I told you so'.
You know what they say: People in glass houses sink ships.
In all fairness, I'd also wager a completely speculative 52,000 GRMcoin gamble that more sellers right now are actually cashing in on gains than losses.
Invest in plywood futures.
Last night with my little 'gambling fund' I saw that while my BTC was down 5% ish for the day, DOGE was down almost 20%. I sold my BTC and bet it on DOGE, and up it came. Thanks to my dog for needing out in the middle of the night. DOGE is up about 18% for the day. Just put it back to BTC now because I'm not going to be paying attention during the rest of the day and the DOGE is too volatile for me to let it sit for long unattended.
In reply to Driven5 :
I never said "I told you so". My stance is if you're playing with a few hundred dollars and think you're an crypto expert, it's funny. If you're playing with money you don't care about, it's all good.
In reply to Steve_Jones :
...Just as I never said that you did either.
There are/were massive Bitcoin mining farms in China, and I read that one of them had at least part of their electric bill paid for by the Chinese government. Well, On top of Musk saying they won't accept Bitcoin as payment anymore (due to it being environmentally irresponsible, a move I agree with), the Chinese government apparently just banned crypto exchanges and initial coin offerings, but has not banned citizens from holding crypto. Many cryptocurrencies seem to follow Bitcoin's trends pretty closely, as we all saw yesterday when prices were cut in half in a matter of minutes - although they did start recovering right away. Around that time several crypto exchanges got overloaded with too many orders and crashed. It was a lot of things all at once that happened and caused this brief crash, however if you check prices now many coins have recovered a good bit. Dogecoin is at 42 cents, which is down a good bit from it's earlier high of almost 70, but still up very much from just a few months ago.
I've been mining Monero recently, and just started mining Vertcoin with an old GPU (too old to mine Ethereum). I'm not making much but it's more of a hobby than anything else. Oh and here's a good one - apparently BitTorrent has their own cryptocurrency so just for poops and giggles I threw a few bucks at that yesterday. It's up 18%.
I'll never have large chunks of my investments in crypto (although I wish I did a few months ago!) because it's too volatile and stresses me out. But I do enjoy playing around with it. It's pretty fascinating stuff, I think. And while plenty of people are going to vilify it, it absolutely is here to stay and will continue to be a part of future investments.
SVreX (Forum Supporter) said:Invest in plywood futures.
No way. In ten years, plywood will be a little-used and very expensive niche product. Most of the current demand for plywood will be satisfied by products like this:
In reply to 1988RedT2 :
Bah. I heard that in the 1980's too. Niche market at best.
Don't assume there aren't alternatives to plywood. We use them every day.
(It was a joke)
Well the IRS has now said if you accept more than $10k in crypto it must be reported. That's going to hurt
SVreX (Forum Supporter) said:In reply to 1988RedT2 :
Bah. I heard that in the 1980's too. Niche market at best.
Don't assume there aren't alternatives to plywood. We use them every day.
(It was a joke)
I more or less agree.
Plus the brag is that their product doesn't warp as much as plywood, or at least it's the first thing they say on their site.
In nearly every application of plywood it doesn't matter how warped it is because it's nailed to hell for sheer. It can be, and often is, bowed many inches and still be used.
Plus the usual downside to foam is fire and pests love it. Neither was mentioned from what I saw?
I've read good things about a hemp-based particle board. Actually I just googled it, it's MDF made from hemp. I've read about products like this for several years and it seems to be far superior to current tree-based MDF, and the hemp plants grow faster and produce more per acre, don't destroy the soil, termites don't eat it, etc etc. It would be nice for things like this to see more use and help reduce deforestation and whatnot. But some people just think it's a board made of weed.
https://www.bulkhempwarehouse.com/blog/hemp-board-10-things-you-need-to-know-today/
Back more on topic, looks like a lot of crypto is slowly increasing today. Looks like the stock market is doing the same.
In reply to infinitenexus :
Back off topic...
Any product with MDF characteristics is completely inappropriate for exterior locations or structural applications. It's a smooth paint grade product suitable for good paint quality finishes. Good for interior projects like shelves.
Definitely NOT a plywood replacement.
We use hemp based panels for casework in LEED projects (green building manufacturing rating system)
I know it's not a replacement for sheets of plywood, but it's a start. I think there are particle board equivalents that can be used as underlayments, and of course there's hempcrete, which is pretty interesting.
Also I think you asked about it earlier, and I read this last night. Cathie Wood is mentioning a Bitcoin ETF
Wells Fargo is set to open an investment product for its wealthy clients next month that gives them access to bitcoin and other cryptos. JP Morgan Chase is also announcing an institutional crypto product offering in the near future. Ark Investment's Cathie Wood still predicts a future price of $500,000 for Bitcoin, and she has been talking about a crypto ETF recently. So there's a lot of big money coming into Crypto. Hopefully that'll help stabilize it some.
In reply to infinitenexus :
Honest question...
How does a bunch of extra money coming into crypto help to stabilize it?
Seems to me it would do exactly the opposite.
In reply to SVreX (Forum Supporter) :
Thats how the fed stabilizes the stock market, just dumps money on the fire. Maybe their strstegy playbook leaked on the internet somewhere?
Crypto is on sale right now, if youre not buying, you might as well be a square.
In reply to SVreX (Forum Supporter) :
It's only gone if you sell /s
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