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Dan

Is investing in crypto a good strategy?

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Have you invested any of your income into crypto? Do you have a long term strategy? I have been slowly been buying half my salary in bitcoin every paycheck for a few months now. I have purchased a lot during the high period but also a lot while its been low, which has been great for dollar cost averaging and lowering my investment level.

I think the real value in bitcoin, and any fixed supply crypto is that its hedged against inflation. $100 for our parents went a lot further than $100 does today because of how much extra money has been printed over the years between. The beauty of bitcoin is that the amount being printed is not only limited but completely capped, therefore the investment made now is inherently worth far more in the future simply on that merit alone.

As long as the technology continues to flourish and we don't see quantum computing in the next decade, we should find this to be one of the best investment opportunities of our lifetime long term.

What are your thoughts?

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I'm starting to think the idea of cryptoCURRENCY being an investment may end up hurting ti in the long run. If you want to produce it (Mining for example) that is one thing. You can and should make profit there. however, the idea of buying "money" to hold onto so it increases in value seems...counterproductive. 

I see "Crypto Mining" as the next HUGE revolutionary industry. Such as computers shaped today crypto and blockhain will shape tomorrow. Even though the real technology is with the BlockChain I see the act of mining coins so lucrative that it can not be stopped at this point. 

So to answer the question directly. Yes, invest. Invest anyway you can. Buy it. Mine it. Anything to be apart. In 20 years every store in the world will accept crypto and maybe, if we are lucky, crypto/blockchain brings the world a little more together. 

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28 minutes ago, CryptoDadlol said:

I'm starting to think the idea of cryptoCURRENCY being an investment may end up hurting ti in the long run. If you want to produce it (Mining for example) that is one thing. You can and should make profit there. however, the idea of buying "money" to hold onto so it increases in value seems...counterproductive. 

I see "Crypto Mining" as the next HUGE revolutionary industry. Such as computers shaped today crypto and blockhain will shape tomorrow. Even though the real technology is with the BlockChain I see the act of mining coins so lucrative that it can not be stopped at this point. 

So to answer the question directly. Yes, invest. Invest anyway you can. Buy it. Mine it. Anything to be apart. In 20 years every store in the world will accept crypto and maybe, if we are lucky, crypto/blockchain brings the world a little more together. 

Do you feel the same way about people who buy Gold?

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31 minutes ago, Dan said:

Do you feel the same way about people who buy Gold?

No as we no longer use gold as currency nor is the utility the same as far as technology. I think timing is everything. As computers are slowing down we kinda needed something new to come along and drive a new industry. Crypto is that "thing" in my opinion.

 

In a way.. crypto is the new "gold rush" but this time it's an unlimited resource that can and will evolve. 

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To me their are a lot of opportunities out there in the crypto-world that are still to be found. I believe that when cryptocurrencies get a mass-adoption a new age could start. So yes, investing on long term is the best to do I think.

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I have more and more friends who are investin gin bitcoin even after the new in the last couple weeks. Unfortunately crypto itself is a volatile topic, and media can manipulate people too easily. The price dip was bound to happen, but it wouldnt have been so drastic if media shuts up :P I know we live in a world like this, and i still believe it has great future in the next couple of years. I really hope we will see a great price "soon" like in 2019, because i would need it very much :D 

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Instead of holding, I have investimed on mining. Though I just started, I have olans of making small purchases every payday.

They, or I say most of the people say cloud mining is scam. But Im willing to take the risk, knowing the cloud mining site that I'm entering onto.

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6 minutes ago, dmbadillo10 said:

Instead of holding, I have investimed on mining. Though I just started, I have olans of making small purchases every payday.

They, or I say most of the people say cloud mining is scam. But Im willing to take the risk, knowing the cloud mining site that I'm entering onto.

Well we have some cloud mining sites where there are no mining rigs and no teams working on them. They are outright ponzi schemes. People do make money from it - only those who enter into the ponzi early and gather thousands of referrals under them. Then they grab the profit early and then go to the next ponzi. This cycle continues. The latecomers will be the losers, always.

However there are some mining ICOs (one of which I invested in) where the team is real and they are having real mining rigs to generate coins. ICO is going on and investors will become stakeholders of the mining rig as per their holdings of the token.

I have made a thread about them here : https://forum.primedice.com/topic/30777-ico-ice-rock-mining-the-most-profitable-mining-round-2-mining/

All the best!

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43 minutes ago, UltraChief said:

Well we have some cloud mining sites where there are no mining rigs and no teams working on them. They are outright ponzi schemes. People do make money from it - only those who enter into the ponzi early and gather thousands of referrals under them. Then they grab the profit early and then go to the next ponzi. This cycle continues. The latecomers will be the losers, always.

However there are some mining ICOs (one of which I invested in) where the team is real and they are having real mining rigs to generate coins. ICO is going on and investors will become stakeholders of the mining rig as per their holdings of the token.

I have made a thread about them here : https://forum.primedice.com/topic/30777-ico-ice-rock-mining-the-most-profitable-mining-round-2-mining/

All the best!

Thank you for the info! I'll visit this topic and lets see. 😉

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4 hours ago, rembo2 said:

Gold is more reliable than the Cryptocurrency.

Yeah maybe, but Gold won't do the same as an actual platform with goals. Do you see gold speeding up bank transactions like ripple?

Can you mine gold? No, but crypto's can be mined. There's even an ICO for that. It's called ROCK2 and it's just perfect. You get a lifetime profit if you buy this coin (as long as you want to hold the coin). They have ultra-profitable mining. How that's possible? They are mining in an old Sovjet-bunker, that bunker is in a an ice cold rock in Kazachstan so they don't have to buy cooling systems. The electricity is super low-cost (0.03/kwh). Since the bunker was used by the Sovjet, the bunker is ready for anything. There is no moisture or so or dust. It's a very interesting contract they give you, you should defenitely check it out.

https://ico.icerockmining.io/Account/Register?stcRef=38efc819-3571-4e8a-a129-15da5d49feda Make an account here and check out there site. It's absolutely genius thinking.

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Personally I believe that Bitcoin alone is not worth investing in long term. I think Bitcoin is much too volatile to be holding, I think this holds true for all Cyrpto-coins.  Though, I believe short term investing in Crypto currency is a very profitable idea. Bitcoin went from 10k to 20k in just a month which with just one BTC is a 10k profit, considering you sold at the right time. I think even short term investing takes patience and a good eye to find when to sell and when to buy. I recommend to most people to get interested in Bitcoin and learn about it given the chance to buy/profit off of it they will know about it, Bitcoin is profitable for a lot of people.

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1 hour ago, Sweeet said:

Personally I believe that Bitcoin alone is not worth investing in long term. I think Bitcoin is much too volatile to be holding, I think this holds true for all Cyrpto-coins.  Though, I believe short term investing in Crypto currency is a very profitable idea. Bitcoin went from 10k to 20k in just a month which with just one BTC is a 10k profit, considering you sold at the right time. I think even short term investing takes patience and a good eye to find when to sell and when to buy. I recommend to most people to get interested in Bitcoin and learn about it given the chance to buy/profit off of it they will know about it, Bitcoin is profitable for a lot of people.

So you mean to say that bitcoin (or crypto in general) is profitable for other people and not you specifically?

I would say one who knows when to buy and when to sell can make good profits from bitcoin trading and even altcoin trading. But this needs patience and bitcoin is obviously not a "get rich quick" scheme.

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10 minutes ago, UltraChief said:

So you mean to say that bitcoin (or crypto in general) is profitable for other people and not you specifically?

I would say one who knows when to buy and when to sell can make good profits from bitcoin trading and even altcoin trading. But this needs patience and bitcoin is obviously not a "get rich quick" scheme.

No just that its to volatile for "investing" as in long term holding, but short term is profitable. 

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8 minutes ago, Sweeet said:

No just that its to volatile for "investing" as in long term holding, but short term is profitable. 

I dont know where you got this idea from but you are grossly mistaken. Take an example of the people who were the early investors of bitcoin. They bought it at dirt cheap 20$ and 30$ and now sold at 15k $ and 20k $ - those who had the patience to hold for all these years. Even those who bought at 600$ got good profits when they sold at 12k $ or 15k $.  So long term investing in bitcoin and other crypto is defenitely profitable.

Short term is mainly for those coins which are not having a huge popularity and not enough movement in the market. Though they can shoot up anytime in future. In general its difficult to determine which coin is for short term but definitely altcoins go into this category. You just need to enter at the low mark and sell at the high mark. Rinse and Repeat.

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On 13/02/2018 at 07:14, Dan said:

Do you feel the same way about people who buy Gold?

I personnaly play with both : cryptos and physical assets like gold, silver and platinum.

My parents always said to me "don't put all your eggs in the same basket" and my background is more on the physical assets. But I believe both are totally complementary.

Gold will ever be almost at the same value (i don't mean price). For example in the roman empire you could buy a full dressup for 1 ounce. in 2018 you still can buy a full dressup with one ounce. It act more as a capital preservation. Not risky but no big reward neither. In 30 years from now it will be the same.

Cryptos are almost the opposite. Risky but you can make big bucks. Risky because even for Bitcoin & some others (the well established ones, those who will probably have a better value in the future) the regulation and governments still have their things to do. For gold & co the laws exists for decades and you know what to do, how much you can make & co.

Every wealthy people will say to you that you need to have a portfolio with multiple type of investments, not 100% crypto or gold. And for lot of people real estate is not really possible since it demand a higher investment : that let gold & co, cryptos or stocks. I believe having a certain amount in those 3 is a good long term strategy.

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