05-18-2020, 02:44 PM | #57 | |
Drives: 22' Porsche PDK GT4 Join Date: Mar 2018
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You do have to have the time to do it though, since it does move fast, you have to be able to take advantage of those swings. The last cycle was insane, history will eventually repeat itself again, as it has multiple times on that market. People like to bag on it in the comments sections of articles, but it is a market that is not leaving, and when the FOMO snowball comes into play, if you have a stake in it, you will eventually see huge returns. While there are some questionable cryptocurrencies and most are unproven long term, you can't look at it that way. That market is not driven by business factors, it is driven by human behavior factors (at least on the retail side) and there is always one thing that will always hold true for human factors, people want to get rich. The last cycle saw gains of 1000's of % and in some cases 10,000's %. Think about this... At that time less than 1% of the population knew anything about it. The next cycle, there will be easier access and it is more mainstream. Even if you don't want to trade, pick a good entry point and just sit on it until that next cycle wave hits. It might be a few years away, but it will happen.
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22' Porsche PDK GT4 (MCS 2-way remote dampers) Previous: 18' NFG 2SS 1LE (ZL1 1LE solid rear cradle bushings & Corsa Exhaust) 16' F80 M3 (Ohlin R/T Coilovers) 13' Audi TTRS (APR Stage 1, MSS Springs) 09' C6 Z06 08' E90 M3 06' 335i (KW V2 Coilovers) 03' C5 Z06 Last edited by TRZ06; 05-18-2020 at 03:06 PM. |
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05-18-2020, 04:09 PM | #58 | |
Drives: camaro v8 Join Date: Aug 2019
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09-24-2020, 04:34 PM | #59 | |
Account Suspended
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Last edited by Rabid Rabbit; 09-30-2020 at 01:12 PM. Reason: spelling correction |
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11-22-2021, 01:56 PM | #60 | |
Drives: BMW X5M Join Date: Apr 2020
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Last edited by Lockimin; 11-26-2021 at 01:03 PM. |
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11-24-2021, 03:58 AM | #61 |
Drives: Camaro Join Date: Nov 2021
Location: USA
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I've never been fond of them because I don't understand how money not backed by gold can exist. Since when do we have currency that is not backed by gold?
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11-24-2021, 09:55 AM | #62 | |
Drives: 2SS/RS Join Date: Sep 2008
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Think of it more like buying a car or any collectible for that matter. You buy the item then hold on to it hoping it will go up in value. You can then sale it later to someone else for more or trade it for something of equal value. |
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12-22-2021, 05:16 AM | #63 |
Mrs. Bunny to you
Drives: Not a Camaro Join Date: May 2009
Location: Cut 'N Shoot Texas
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The dollar is no longer backed by gold, hasn't been for some time. The dollar only has value because we as a society give it value. Same with cryptocurrencies, they have value because their holders determine it to be of value.
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12-22-2021, 07:14 AM | #64 |
Started#gottalovethatblue
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The difference between the dollar and crypto is that while the dollar isn't fully backed by gold anymore, it still has gold backing and the government has assets such as land, buildings, mine able resources, etc to back it up. Crypto is theoretical money. It's physical value is even less than Monopoly money because at least Monopoly money is printed on paper that can be recycled.
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12-22-2021, 10:17 AM | #65 | |
Mrs. Bunny to you
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12-22-2021, 02:16 PM | #66 |
Started#gottalovethatblue
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You're missing the point. If I asked you for a dollar you could hand me a dollar bill, 4 quarters, 10 dimes, 20 nickels, 100 pennies, or any combination of the above. If I asked you for a dollar equivalent of Bitcoin what would you give me? There's zero that you can physically give me. Additionally, if people requested the US government to pay their debts and they ran out of money, highly unlikely I know but theoretically possible, they could trade gold, property, buildings, or other assets to satisfy their debt. Crypto, if you lose your password or your hard drive crashes you're out all of your money. There's nothing to back it up or counter it. There's nothing that can physically be there to pay off a debt. Crypto is virtual money with ZERO root other than "look at me, my computer says I have money".
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12-23-2021, 08:55 AM | #67 |
Drives: Camaro Join Date: Dec 2021
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I've been in the crypt for about two years now.
It is very volatile and that is both a plus and a minus. You have to be very careful, especially if you use borrowed money. Also in crypto you need to stay on trend and follow them 24/7! Wallstreethack.com helps me with this. If you're just investing get ready for the fact that you may need to sit in minus for a few |
12-23-2021, 10:13 AM | #68 | |
Mrs. Bunny to you
Drives: Not a Camaro Join Date: May 2009
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Just because it's not tangible doesn't mean it's not real. You loose a $100 bill or a $100 scratch off you are out money same as losing your wallet passphrase. There are three functions of money: Medium of Exchange, Unit of Account, or Store of Value. Cryptocurriences check all those boxes, in addition to having scarcity which FIAT does not. |
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04-11-2022, 07:02 AM | #69 |
Started#gottalovethatblue
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Why do you think gold is a good investment? If the world economy crashes, what would you rather have? A brick of gold or a case of water and a 5 gallon jug of gasoline? The rate of return for gold is awful and extremely volatile.
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04-11-2022, 12:41 PM | #70 |
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[QUOTE=bossbunny;11112031
Just because it's not tangible doesn't mean it's not real. [/QUOTE] Crypto and Love; A difference without a distinction. |
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