COINBASE for Crypto has come

Murphy

Murphy

cat malogen
Think of the pig slots

Surely during/after a pandemic a solid financial crash is inevitable, top heavy with speculators, investors being too prim to see themselves as speculators

A land war in Asia could sodomise crypto hard
 
Clinamenic

Clinamenic

Binary & Tweed
version said:
I tend to view putting money into anything as something of a gamble.
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Sure, if you define gamble as a incurrence of a risk. Follow that reasoning and its arguably virtually impossible to do anything other gamble, with anything of value.

edit: unless you define gamble as an incurrence of a greater risk than the default situation would entail, in the expectation of a greater reward than the default situation would entail, in which case anything more than keeping cash under the floorboards would constitute gambling.
 
Clinamenic

Clinamenic

Binary & Tweed
Yeah I would say that proper gambling, e.g. lottery, is more or less the same as shitcoin investing.

Or it could be even worse than just randomness. It could be a rigged arrangement, i.e. a pump and dump, that is more along the lines of casino gambling.

Of course I am assuming that the lottery in question is ideally random.
 
Clinamenic

Clinamenic

Binary & Tweed
A common phrase in crypto culture, and presumably in financial culture most broadly, is "don't invest what you can't afford to lose" which is obviously true, but I would also assert "don't invest what you can't afford to endure the temporary depreciation of" as much of this is a waiting game.
 
Clinamenic

Clinamenic

Binary & Tweed
Research mitigates risk, but only partially. To me it simply makes sense that blockchain gets further implementation, but that doesn't necessarily mean that the existing blockchains, i.e. my investments, will be the ones to see this implementation, nor does wider blockchain implementation as such necessarily entail the appreciation of native currencies of said blockchains, although it would certainly make sense.
 
hmg

hmg

Victory lap
The wildest of rides.
yyaldrin said:
what's your wallet worth atm?
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Well, on the Ethereum network it's been whipsawing wildly, but if I was to liquidate right now, about $12-15,000. Sunday, it was more like $20,000. I'm up hugely because of bloot and the related airdrop, but down relatively because of the flash crash this week. It's been wild, to be honest. I won't sell anything though, not unless something dramatic happens, like $bgld goes to $10.
 
Leo

Leo

Well-known member
do you guys consider yourselves long-term crypto investors, letting your money ride, or do you do variations on day trading where you're buying and selling bits each week or month? I wouldn't have the time or attention to always be jumping in and out of things. when investing in anything for the relative long term, the daily/weekly/monthly ups and downs don't really matter that much.
 
Clinamenic

Clinamenic

Binary & Tweed
My only experience trading was in the early part of 2020, when my only crypto assets were the earnings from Coinbase's quizzes. That is, I hadn;t put any money in, and was converting between crypto assets on the order of dollars and tens of dollars.

Since then, I haven't been into trading, largely because I find it more stressful, largely because it is more complex tax-wise.

I do consider myself a long-term investor - a "hodler" - because of

A) capital gains tax rate being lower after having held the asset for one year, rather than selling before the one-year mark,

B) because I think we are still quite early in the development of crypto as an asset class (~$2.2 trillion market cap for crypto, compared to the ~$0.4 - ~$1 quadrillion global derivatives market, from what I gather), and

C) because I am earning interest via lending platforms and staking.
 
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