Bitcoin/Ethereum/cryptocurrencies

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wilberforce15

Well-Known Member
Overpaid Union Thug said:
I think I’ll just stick with Coinbase for now. I’m only putting $40/month in it. That’s what I have been using to buy UPS stock. But no more. It’s more of an experiment than anything. I keep seeing big shots on social media say we should all be buying crypto. One guy said everyone should buy some every week. Even if it’s only one dollar’s worth. Claimed we’d all the millionaires in 10 years. And to only buy bitcoin and not all of that other “junk crypto.”
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Unless you feel qualified to evaluate the other cryptos based on future use possibilities, then just buying BTC is probably the best bet.

The other cryptos will help run the entire next version of the world and many will destroy BTC's returns. But many will also turn out to be useless and go to 0.
 
O

Overpaid Union Thug

Well-Known Member
wilberforce15 said:
Unless you feel qualified to evaluate the other cryptos based on future use possibilities, then just buying BTC is probably the best bet.

The other cryptos will help run the entire next version of the world and many will destroy BTC's returns. But many will also turn out to be useless and go to 0.
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I was thinking of buying two or three instead of just bitcoin.
 
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wilberforce15

Well-Known Member
Brownslave688 said:
Really not trying to be rude but frankly $500 a year won’t get you anywhere investing in the top 10.
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Dollar amount should not determine investing strategy.

People with low funds shoot for the moon, take too much risk, end with nothing, and then quit. That happens 10 times as often as somebody reaching a decent account size.
 
Brownslave688

Brownslave688

You want a toe? I can get you a toe.
wilberforce15 said:
Dollar amount should not determine investing strategy.

People with low funds shoot for the moon, take too much risk, end with nothing, and then quit. That happens 10 times as often as somebody reaching a decent account size.
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We aren’t talking 20k vs 20 million here. We are talking a single 12 hour day. Out of the entire year being invested.
 
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wilberforce15

Well-Known Member
Brownslave688 said:
We aren’t talking 20k vs 20 million here. We are talking a single 12 hour day. Out of the entire year being invested.
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He could be part-time. He could have any other issues. Not your concern.

If you give him risk in a market he knows he doesn't understand, you're setting him up for crashing, burning, and quitting.

It is profoundly irresponsible to recommend small-cap alt coins to a new guy just because he doesn't have much money.
 
Brownslave688

Brownslave688

You want a toe? I can get you a toe.
wilberforce15 said:
He could be part-time. He could have any other issues. Not your concern.

If you give him risk in a market he knows he doesn't understand, you're setting him up for crashing, burning, and quitting.

It is profoundly irresponsible to recommend small-cap alt coins to a new guy just because he doesn't have much money.
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I never recommended anything. Just said top 10 won’t get any monster growth.
 
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wilberforce15

Well-Known Member
Brownslave688 said:
I never recommended anything. Just said top 10 won’t get any monster growth.
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It absolutely will, if your definition of monster isn't centered on altcoins. The top 10 will destroy the stock indices.

Taking too much risk, seeking to much return, is the number one mistake that makes people quit before they even understand the markets.
 
O

Overpaid Union Thug

Well-Known Member
Brownslave688 said:
Really not trying to be rude but frankly $500 a year won’t get you anywhere investing in the top 10.
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It will likely earn more than putting the equal amount I was into UPS stock every month. And without the hassle of having to fill out paperwork and getting it notarized just to cash some in. I’ve always treated my UPS stock as a savings account with a higher interest rate. But now that it’s a pain in the ass to cash in every once in a while I no longer want to participate.
 
Brownslave688

Brownslave688

You want a toe? I can get you a toe.
Overpaid Union Thug said:
It will likely earn more than putting the equal amount I was into UPS stock every month. And without the hassle of having to fill out paperwork and getting it notarized just to cash some in. I’ve always treated my UPS stock as a savings account with a higher interest rate. But now that it’s a pain in the ass to cash in every once in a while I no longer want to participate.
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I get that. That’s how I treated it too. Cashed it all out in 2017-18 to put into crypto. Well all that I had had for 2 years.

It is a pain now.
 
O

Overpaid Union Thug

Well-Known Member
Brownslave688 said:
I get that. That’s how I treated it too. Cashed it all out in 2017-18 to put into crypto. Well all that I had had for 2 years.

It is a pain now.
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Yep! I have mine ready to go in my personal vehicle as we speak but can’t get off in time to get it notarized and I have yet to find a notary on my route. And I also am planning on spending my stock cash out on crypto. Lol
 
Over70irregs

Over70irregs

Well-Known Member
Man I forgot about UPS stock cash out. Good idea. 🤔. Now do I cash out now and take chance on Nov Dec Jan projection upside risk? Or wait till after Jan 1 to avoid tax hit for 2021….?
 
Over70irregs

Over70irregs

Well-Known Member
Not your keys, not your coin. Buy and lock it up or move off exchange. Get several hot wallets. Moving some coin now………
Trezor
Ledger
Blockstream
 
Over70irregs

Over70irregs

Well-Known Member
wilberforce15 said:
2014 might as well be a century ago.
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(We are all still learning brother. Let’s learn together)

North Korean Hackers Accused Of 'Biggest Cryptocurrency Theft Of 2020'—Their Heists Are Now Worth $1.75 Billion. ... The hack of Singapore-based KuCoin, which lets people trade Bitcoin, Ethereum and other cryptocurrency, also took Lazarus' illicit winnings up to $1.75 billion, Chainalysis claimed.Feb 9, 2021
 

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