Cryptocurrency Discussion

The Emperor's Lounge
#1

Anywhere here holding cryptos? Personally, I just recently got really, really into it and, IMO, this is the future especially with all of these countries/companies making lowkey big moves in the sphere. Personally, I am holding ETH, XRP, XLM, LINK, Litecoin, and a neglible amount of BTC. I’ve been super huge on XRP recently. I think it has massive potential. All this “Great Reset”/digital currency talk from the big players has me wondering. I am trying follow trends and learn as I go. My intuition tells me cryptos will only keep going up and up.

Share questions/thoughts/insights/news/advice if you’d like.

Disclaimer: I am honestly still a newbie at crypto. This post is for entertainment purposes only. I am not a financial advisor. If you any of you have been into crypto for any amount of time, you’re probably more knowledgable than me. Do your own research. Etc.

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Trading crypto group
Where to Go for Crypto Currency
#2

Have you earned anything worth mentioning on it yet?

#4

@i_am
I get so many calls and emails about cryptocurrency…is it you calling me ? :sweat_smile:

#6

Owning BTC.

Bought it on the september low it being 8.5K €… now it’s 15K+ €.

So far so good. I’m here for the long run - Ibelieve BTC will explode in the next 5-10 years

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#7

I used to trade the crypto in BITMEX and BINANCE in late 2018 and early 2019.

Caught the BTC pump from 3000 to 12000.

But the volume in exchanges are fake. There are many glitches in them too.
Crypto is very good for Swing Trading if you have the patience.
But you cant scalp / daytrade them.

Unless FED collapses , crypto is only for pure speculation. There is no practical use to them unless FIAT money is completely eradicated.

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#9

I am no expert… but from what I have seen BTC is always fluctuating.

The current bull market might last towards 20K/22K… then it might drop.

To be honest, I think if you buy in now, you will still profit.

What you need to get clear on is whether you are doing this for the short-term or the long-term.

If you want short-term profits go all-in and study it…

If you want long-term profits, buy BTC now and hold it…

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#11

Haven’t ran HOM in almost a month, since before my washout. But this could very well be the bloom taking over :joy:. Gonna add it back to the stack

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#15

I own quite a large amount of XRP.

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#16

Are you trading it if we may know?

#18

Is there any risk to it?

#19

Of course, the risk is that it could end up not being worth anything. But that’s the risk with every coin or stock you buy

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#20

Eh, this is why I’m mining a new one instead of buying

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#21

We all have different risk tolerances

#22

What’s the risk in here in your view? Please, kindly share your opinion with us.

#23

I hope XRP owners have dumped their stash.

Xrp is being delisted from almost all crypto exchanges in Jan.

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#24

Why not invest in Bitcoin instead?

#25

I’m raging at the recent news. The SEC is only going that route because the United States wants to issue it’s own digital dollar: https://news.bitcoin.com/federal-reserve-digital-dollar/

For those who don’t know, @gdbdboy is referring to the SEC’s ruling that XRP is a security, meaning it has to be regulated like other securities. In a way, this could lead to the future skyrocketing of XRP’s price, but for now, all the crypto exchanges are dropping it.

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#26

It seems to me it may be the beginning of the end of cryptocurrencies in the US. Whoever puts their hands on any money will never do anything against their own interest and will always act in a way which benefit them in the first place not carrying about the rest. Fiat money is the best example. I hope they will never be able to do the same to Bitcoin and Ethereum. It seems to be an attempt of a government to centralize a cryptocurrency and many other governments may try to follow the pattern or just try to delegalize a successful cryptocurrency and replace it with their own to show the people they cannot fuck with them and to benefit from it, of course. The Chinese government is the best example of it if that:

Interestingly, it is not illegal to hold Bitcoins and other cryptocurrencies or even to buy or sell them in China . The Chinese government also encourages the development and application of blockchain technology, but made it clear that blockchain technology must service the real economy. (must service the people who rule China, of course)

China has been pushing toward a cashless society. The digital yuan is not a cryptocurrency like bitcoin. Instead, it is issued and controlled by the People’s Bank of China , the country’s central bank. (controlled by the very same group I mentioned above)

I’ve just started learning the ropes if it comes to cryptocurrencies but we all know almost nobody acts against their own interest.

We may all fall victim to this kind of game. I have to learn more on the subject, for now it’s only layman thinking and talking. I would be glad, guys, if you kindly refered to what I wrote, please.

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#27

Any insight, @remarkable? I would be great if you could elaborate on cryptocurrencies and Bitcoin a bit, please.

#28

Thats the short answer.

A slightly longer answer is to read the following articles because I am far too indolent to type my thoughts myself when somebody else has already done the work and reached more or less the same conclusions.

What is money? https://wallstreetplayboys.com/what-is-money-fiat-non-fiat/

Political considerations. https://wallstreetplayboys.com/crystal-clear-structural-changes-after-covid/

How much? https://wallstreetplayboys.com/risk-management-politics-bitcoin-basketball-and-stocks/

This is not to say that myself and the WSP are correct, merely that we share the same methodology/world view wrt reality.

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