Crypto Currencies

[07GTS]

if ur not in it then u have 0% chance of winning, if u buy a lotto ticket every week for $50 and soon as u dont win the money is gone, maby put $50 a week in crypto and it will always be worth what every that coin is worth, if it goes to zero then ur no worse off then loosing lotto BUT if it stays around same worth or goes up and u take it out then no loss at all only potential gains

 

[Skydrol]

if ur not in it then u have 0% chance of winning, if u buy a lotto ticket every week for $50 and soon as u dont win the money is gone, maby put $50 a week in crypto and it will always be worth what every that coin is worth, if it goes to zero then ur no worse off then loosing lotto BUT if it stays around same worth or goes up and u take it out then no loss at all only potential gains

Watched some people not long ago, pissing away their retirement cash in an smoke filled casino, pulling the slot machine handle like zombies.

 

[JRNZER]

Bitcoin down to $18,950 today, All the other coins are still falling.

Think it might soon be time to drop a bit of cash on one of the coins soon

 

[Skydrol]

Yes, and now is on the $17K mark, let them go. As an investor, is good, if you are a bottom feeder. Typical buy low, sell high. Is going back up but also... do not get hung up on USDs look at the ratio based on the value against other Cryptos. In that sense... LTC is holding its value compared to BTC. Same as the Silver to Gold ratio. USDs can be hyperinflated and the true value distorted. The true value is what people are willing to give you for the Crypto.

Do not worry for the Gov Co shills. They are there to keep you into the system. Their pension accounts and job are tied to the Gov Co. I say... let them play their game, you play yours.

 

[Reaper]

Putting money into crypto isn’t investing, it’s gambling. I’ve got a bit of money in it but I’m fine if it becomes worthless, after all that is it’s intrinsic value. At least when you buy shares or a house you own something tangible that’s always going to be worth something

100% it's gambling as the house (in this case crypto exchange) takes a small % and all the rest is distributed amongst the plebs.

I thought like you 15 years ago, when Bitcoin was at $30 each, look at it now. Watched this token grow slowly and missed out. Tax Avoidance is not Tax Evasion. We all do Tax Avoidance in one way or another, if is not in Black & White is not illegal. I do not give 2 shîts on what the telly morons say, is all speculation on their part. I am investing what I earned from a bet with Dogecoin, is all house money minus $280 from my pocket. If tomorow goes to $0, my loss is $280, money that I am willing to loose.

Beside, watching how Gov around the world use people's Tax cash, makes me think if is worth paying it. Anyway, we are globaly at the edge of the banking system collapse, so what...

I totally agree that many people have made a ******* fortune out of it (wish I bought $10k of them 15 years ago too) and also agree that tax avoidance (aka legally minimising tax) is very different to evasion (illegally not paying tax). I unashamedly do the first one myself. Still doesn't answer my fundamental question - how do you work out fair market value objectively?

 

[07GTS]

how do you work out fair market value objectively?

i dont think that question applies to crypto, closest answer i can give u is twitter

 

[Skydrol]

how do you work out fair market value objectively?

At this point is a mess. Is all based on the USDs value. Not many people know about Crypto and how they work. Most do know that you go to work, and they get some units called Dollars. All we can do is speculate. If the power grif goes out, the Crypto value is near 0. If the internet goes out, is defenite 0.

Cryptos are not bullet proof but if there is a Bank Holliday people will start trading for other things. Perhaps a 10mm socket will worth a fortune. However, if there is power and a running internet, Cryptos will be used. Their value will swing like crazy until an equilibrium is found.

I see any savings, pension funds, et al, based in any currency, the inflation is going to suck the wealth out of it.

We are heading to an unknown in the future. In the way I see it, I will stash away some hard cash, cryptos, and some precious metals. Your next plate of food might come from one of those threes. Also, keep some fuel on hand, I have 25 gallons that I bought last winter. Paid like around $2 a gallon. Got them for a just in case my generator cannot longer run on NG from the house.

We are going to experience some blackouts in the US. I know in AU is happening.

 

[PaulMcGTS]

Putting money into crypto isn’t investing, it’s gambling. I’ve got a bit of money in it but I’m fine if it becomes worthless, after all that is it’s intrinsic value. At least when you buy shares or a house you own something tangible that’s always going to be worth something.

`Shares have risks also, especially if you trade in the speculative end and companies can go bust. All investment comes with risk, managing it correctly is the key. Im not currently active in the crypto markets it's too volatile and with knowing essentially as you say no real value behind it it's a fools paradise atm.

 

[Skydrol]

Even our currencies have 0 value, and we use them because of the value the people gives them. The gov forces us by law to settle payments with their currencies. However, we trade stuff all the time without an mean of exchange. There are instances, that people buy properties for $1.00 to make the sale legal, and there is some sort of exchange on the background.

If the currencies are hyperinflated, I bet people will seek another way for wealth preservation.

Things looks like they go up in value, is the currency that worth less everyday , and our wages are not keeping up with the inflation.

 

[Immortality]

Still doesn't answer my fundamental question - how do you work out fair market value objectively?

You'll never get a clear answer as he's so far down the rabbit hole he can't see the daylight from the tree roots.

Every post goes into conspiratorial rant against the establishment and how the world will end and how he's just watching and waiting.....