Has Anyone Invested in Digital Currency (Bitcoin, etc.)

I will give a month by month report over the next year....;)

I've been following the bank coins that Chase Morgan is developing. I am not an advocate of bank coins. Bank fees are too high, and millennials 'are choosing stablecoins over bank accounts, and the number is growing in larger cities. They don't have to pay the fees.... bankcoins will still have high fees. Japan's largest bank began using bank coins today... with an ATM on most corners of the country.
 

WhatInThe

Well-known Member
It's so dicey that many brokerage firm will not allow trades of bitcoin related stock, mutual funds or ETFs. They want zero to do with bitcoin. I understand they don't want to sell it directly but related funds and stocks?
 

J.B Books

Member
I am old fashioned I guess.
I buy, sell, transfer funds several times a month. A day trader by no means!
Anyway, I don't understand Bitcoin really. I'd rather shoot craps.
Warren Buffet does not invest in bitcoin.
He said " I never invest in anything I don't understand"
 

mathjak107

Senior Member
Actually the saying may have been more appropriate in the days of Peter lynch . But Today as far as most successful stocks go , there is little you would have understood about them .

the biggest names were disrupters which changed the way we did business or introduced technology we had no understanding of.. the worst companies were the ones we understood...just look at companies like many food stocks like Kraft/ heinz or oil companies .
 

mathjak107

Senior Member
But it is still an area most do not understand, the same as I don’t understand most tech companies or biotech ....

bitcoin can easily be bought via an etf which trades just like any other etf, gbtc ...it is linked to Bitcoin the way bonds are linked to interest rates .

it is very easy to buy and sell a play in bitcoin. There is not much I understand about the mechanics of bitcoin . But that does not stop me from profiting if it goes up .

you don’t need to know all the physiology as to how a baby is formed and all the science behind it to be good parents.

there is little today most of us understood in all the great stocks like the faangs in their earlier years
 

J.B Books

Member
Tesla. Who woulda thunk years ago.
A friend of mine owns a building with a partner.
Always a forward thinker.
A while ago he took out a $50,000.00 loan using the building as collateral and did not tell his partner.
He bought Tesla stock with the money.
He is up close to 700% with that.
I do not have the risk tolerance for something like that!

Anyway. Bitcoin. I don't understand how it is made and valuation behind it.
 

J.B Books

Member
But it is still an area most do not understand, the same as I don’t understand most tech companies or biotech ....

bitcoin can easily be bought via an etf which trades just like any other etf, gbtc ...it is linked to Bitcoin the way bonds are linked to interest rates .

it is very easy to buy and sell a play in bitcoin. There is not much I understand about the mechanics of bitcoin . But that does not stop me from profiting if it goes up .

you don’t need to know all the physiology as to how a baby is formed and all the science behind it to be good parents.

there is little today most of us understood in all the great stocks like the faangs
I understand all that. I buy ETF's stock's, high tech, etc. I watch bitcoin. I know HOW to buy it. I don't choose to.
I do like to do my research.
 

mathjak107

Senior Member
Typically I don’t buy Bitcoin , but I understand enough to know that after a 25% plunge it was likely due for a pop ...that is all I had to know...so I took a shot with gbtc and the next day it popped 10% and I sold...I don’t know the first thing about the mechanics of crypto nor do I care
 

J.B Books

Member
Typically I don’t buy Bitcoin , but I understand enough to know that after a 25% plunge it was likely due for a pop ...that is all I had to know...so I took a shot with gbtc and the next day it popped 10% and I sold...I don’t know the first thing about the mechanics of crypto nor do I care
There ya go.
So to me it's gambling with bitcoin.
I walk up to craps table. I place the lower risk bets, I am up a few hundred in 30 minutes. I walk away.
Can I explain how the dice rolled? No.
 
Well, after a month, I am up 30%... and counting. Did you know that Yale, Harvard, and Brown University have up a big chunk of their endowments into crypto.... I'm listening to a couple sharp people who post daily on Youtube...and learning a bunch there on what is happening in crypto... institutions are buying crypto .... a lot of crypto.
 
If you are buying, every little morsel of information I read and hear says buy Etherium....NOW. It has changes coming Feb 8 that will attract a lot of institutions into buying in....I'm in and staying in... If I live long enough, it might pay for college for the grandkids....lol...Might I add a disclaimer here.... that I know nothing and am not responsible for your investment.
 
At the moment, I am actually up 41%, but I think it is a pump and dump on XRP, which will drop within an hour or so... but if not... I will take it to the bank.
 

fmdog44

Well-known Member
Location
Houston, Texas
Internet stocks offered during their rise had little or no value consequently when the storm hit not only did they crash but they dissolved. Bitcoin is more of a mystery to me than anything I have encountered. Even when I read about it I come up blank. I no longer invest but Bitcoin it would be the last place I would invest in being in retirement. Can anyone explain it's daily volatility?
 

OneEyedDiva

Well-known Member
Location
New Jersey
This is crazy...Bitcoin's price as of this morning $48,266.65 down from $54,911 yesterday. Have to say this again.. Damn, I wish I had bought in when I first heard about it! I don't even think it was $100 a coin back then.
 

J.B Books

Member
Interesting article on Bitcoin:



'Retail suckers' with FOMO will eventually get crushed on Bitcoin, says Roubini



Famed economist Nouriel Roubini argues that retail investors with “fear of missing out” are going to get crushed by investing in Bitcoin during its latest run higher.

“We have, like in 2017, hundreds of thousands of retail suckers that are having FOMO (fear of missing out) going into this asset class. And they are going to buy it at peak like it happened in December of 2017 when it was $20,000 and fell to $3,000 by the end of the next year. So, it’s the same phenomenon — just people are moving in because of FOMO, feeding the bubble, manipulation, eventually, they’ll get crushed,” Roubini told Yahoo Finance Live on Monday.

The NYU Stern professor of economics argued that Bitcoin’s surge is driven by “massive manipulation,” not a rush into a hedge against inflation.

“I think that some of the movement upward is driven not by worries about inflation or debasement of fiat currencies because gold is not going up very much, TIPS (Treasury Inflation-Protected Securities) are not going up very much. Why would just Bitcoin be a hedge against inflation and a debasement of fiat currency? There must be something else — something else is there is massive manipulation,” Roubini said.

Roubini, whose nickname is “Dr. Doom,” has argued that Bitcoin and other cryptocurrencies, which he’s dubbed as “sh-tcoins,” have no place in a retail or institutional investors’ portfolio. He pointed to the “huge amount of volatility” as a reason for concern.

“You have to ask yourself whether retail investors or institutional investors should be investing in something that is so risky and something that is not a currency and is not even an asset,” Roubini added.Bitcoin (BTC-USD) hit a high over the weekend of $58,367 per coin before dropping as low as $46,616 on Monday. The digital asset was last trading above $54,000 at the time of this publication, still down from its recent highs.

“The reality is nobody knows what the value of this pseudo-asset is. It doesn’t have any value cause it doesn’t have any income, doesn’t have any use, doesn’t have any utility. So it’s a speculative play on a bubble that is self-fulfilling,” Roubini added.
 

OneEyedDiva

Well-known Member
Location
New Jersey
Interesting article on Bitcoin:



'Retail suckers' with FOMO will eventually get crushed on Bitcoin, says Roubini



Famed economist Nouriel Roubini argues that retail investors with “fear of missing out” are going to get crushed by investing in Bitcoin during its latest run higher.

“We have, like in 2017, hundreds of thousands of retail suckers that are having FOMO (fear of missing out) going into this asset class. And they are going to buy it at peak like it happened in December of 2017 when it was $20,000 and fell to $3,000 by the end of the next year. So, it’s the same phenomenon — just people are moving in because of FOMO, feeding the bubble, manipulation, eventually, they’ll get crushed,” Roubini told Yahoo Finance Live on Monday.

The NYU Stern professor of economics argued that Bitcoin’s surge is driven by “massive manipulation,” not a rush into a hedge against inflation.

“I think that some of the movement upward is driven not by worries about inflation or debasement of fiat currencies because gold is not going up very much, TIPS (Treasury Inflation-Protected Securities) are not going up very much. Why would just Bitcoin be a hedge against inflation and a debasement of fiat currency? There must be something else — something else is there is massive manipulation,” Roubini said.

Roubini, whose nickname is “Dr. Doom,” has argued that Bitcoin and other cryptocurrencies, which he’s dubbed as “sh-tcoins,” have no place in a retail or institutional investors’ portfolio. He pointed to the “huge amount of volatility” as a reason for concern.

“You have to ask yourself whether retail investors or institutional investors should be investing in something that is so risky and something that is not a currency and is not even an asset,” Roubini added.Bitcoin (BTC-USD) hit a high over the weekend of $58,367 per coin before dropping as low as $46,616 on Monday. The digital asset was last trading above $54,000 at the time of this publication, still down from its recent highs.

“The reality is nobody knows what the value of this pseudo-asset is. It doesn’t have any value cause it doesn’t have any income, doesn’t have any use, doesn’t have any utility. So it’s a speculative play on a bubble that is self-fulfilling,” Roubini added.
One has to be very wealthy to buy into Bitcoin at it's current price...and even much lower. And that ain't me. LOL :D Plus Bitcoin is too volatile. For those who got in at 8 cents on up to $100 a share, it will probably be worth it to stay in.
 

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