Cryptocurrency crash: Buying, Holding, or Both?

[WillBrink]

NOTE: If you don't have any crypto, no plans to ever own any, consider a scam, yada yada, not the the thread for you. Not a thread to voice personal opinions of crypto. Thanx.

So, crypto has been experiencing a big downturn. As always, that presents problems (loss of value ) and opportunities. Right now, big opportunities to be had. Accurate:

"If you put all your $ in crypto, you're an idiot. If you have no $ in crypto, you're an even bigger idiot" ��

So, caveat emptor, do your homework. I'm not an expert, and not not play one on TV, YT, or IG...

So, are those in crypto buying or holding, or both? I'm doing a bit of both. At below 30k, even grabbed some BC, but just fraction of coin, and not a large amount of $ for me.

An excellent vid worth a view, like really:

[rero360]

I’m holding what little I have, it’s down a fair amount but not nearly what my stocks are doing. 350 into crypto now worth 190, 300 in stocks now at 20. I don’t know how my Roth IRA is doing, I’m sure it’s been brutalized as well. F Joe Biden and all of his administration and all the other statists trying their best to destroy this nation.

[WillBrink]

I’m holding what little I have, it’s down a fair amount but not nearly what my stocks are doing. 350 into crypto now worth 190, 300 in stocks now at 20. I don’t know how my Roth IRA is doing, I’m sure it’s been brutalized as well. F Joe Biden and all of his administration and all the other statists trying their best to destroy this nation.

Go Brandon!

[mack7.62]

My feeling about crypto is that P T Barnum would have loved it.

[JediGuy]

I’ve bought a bit more bitcoin. Not huge money, even under $30,000.

[FromMyColdDeadHand]

Soooo, wan’t crypto specifically designed to fight inflation from the kind of manipulation of the money supply we are seeing now??? It should be booming in value if it worked, but it is going the other way?

[WillBrink]

Soooo, wan’t crypto specifically designed to fight inflation from the kind of manipulation of the money supply we are seeing now??? It should be booming in value if it worked, but it is going the other way?

It's going the way it always has, generally up with highly volatile swings, just like some of the tech stocks I have etc. Buying on the dips and Long term hold, should = profit and so forth. Vid posted worth a view ...


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[WillBrink]

My feeling about crypto is that P T Barnum would have loved it.

How much actual research have you done?

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[mack7.62]

How much actual research have you done?

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None, just casual observation. I may be wrong bur here is the way I understand it, computer data stored somewhere in the cloud is counted as wealth, pump and dump scams happen, hackers have been able to steal billions, supposed to be better than fiat but really neither is backed by anything other than faith. The downsides I see for crypto are EMP, grid failure, loss of internet, hacking, scams, government theft, loss of confidence. The upsides of crypto are like stocks in a bull market while they are increasing in value they're great but..... My current investment strategy is become grid independent, stockpile food and buy whiskey, lots and lots of whiskey.

[FromMyColdDeadHand]

None, just casual observation. I may be wrong bur here is the way I understand it, computer data stored somewhere in the cloud is counted as wealth, pump and dump scams happen, hackers have been able to steal billions, supposed to be better than fiat but really neither is backed by anything other than faith. The downsides I see for crypto are EMP, grid failure, loss of internet, hacking, scams, government theft, loss of confidence. The upsides of crypto are like stocks in a bull market while they are increasing in value they're great but..... My current investment strategy is become grid independent, stockpile food and buy whiskey, lots and lots of whiskey.

There is the ability to conduct transactions with it that are outside the government control. That potentially could be a benefit. But as you so simply put it is nothing more than another fiat currency. Exclusivity is not a sure store of wealth, just ask beanie baby collectors. Or tulips.