Crypto, Blockchain, Bitcoin, ETH, etc.

[neanderthal]

I too don't understand crypto vey well, and then I see that whenever Elon tweets something it really affects the pricing of crypto. Staying the fuck away!!!!

That said, I just saw that there is a new coin, Safemoon coin, that is supposed to avert a lot of the problems of crypto currencies. Any thoughts on that?

I'm thinking of putting $500 in and seeing where it goes.

[sandydandy]

Position trade, day trade...

Whenever you need to actively 'trade', I wouldn't consider it 'investing'. You might call it 'work', right? Whether if you trade stocks or goods... you have to keep trading in order to make money. That's work.

Investing is you set aside a portion of your money... and then you don't have to do much to see it grow over time while doing no work or minimal work. Lesser the work and higher the return... better the investment.

IMHO, gold and currencies probably won't grow in value over time... they will only fluctuate... so I would not consider buying currencies or gold as real 'investing'. If you consider the effects of inflation, buying these things is actually 'anti-investing'. We need to use currencies on our hands to buy other things that will grow in value.

Anyway, gold is probably better than US dollars. It's probably much harder to mine more gold on earth... so as it become more and more scarce, perhaps value will rise. However, can't see gold's value rise explosively... Whereas US dollars can be easily printed... so you know it's value will only drop over time. One could trade dollars to make money, but it makes no sense to invest in US dollars.

Crypto currency could eventually become a legit currency... then it becomes useful and we will be able to be free from central banks' manipulation... if you bought it cheap early, you'll make money. However, crypto-currency could also completely collapse and burst like dotcom bubble. We'll just have to wait and see.

Blockchain idea is a good one though. However, I really had no idea these computer systems are so energy hungry...

But then again, people waste a lot of energy playing games and watching porn too, right? Does crypto currency really contribute more to climate change than gaming and porning? Or is that just an excuse from nay sayers I wonder...?

There is virtually no work involved in putting on a long-term position trade. One that goes months to years. For all intents and purposes, it's like an investment. You're overanalyzing the definitions a bit too much. Intraday trading is of course work. Swing trading is what I love to do best, something that goes a couple of days to a couple of weeks. It suits my personality and schedule better, because of work I can't micromanage every tick movement.

All this crypto talk has me intrigued. I am thinking of looking at a Bitcoin ETF once things settle down. I think there's a Canadian one.

[Crazed_Insanity]

Virtually no work sounds better. I’m too lazy and too poor to work and put money into it at the same time.

I’ll start my own company if I’m gonna do work and put in my own money!

[Yw-slayer]

That said, I just saw that there is a new coin, Safemoon coin, that is supposed to avert a lot of the problems of crypto currencies. Any thoughts on that?

I'm thinking of putting $500 in and seeing where it goes.

I personally wouldn't put USD500 in Safemoon. I'm more into ETH (especially long-term) and SOL.

[MR2 Fan]

The crash that just happened? It's probably going to be forgotten in a week. I'm ready to buy in to more cryptos, so this is exciting.

Scratch that maybe 2-3 more weeks

[Rare White Ape]

I found out this morning that Bitcoin got the big old banhammer in China. The country hosted 2/3 of all Bitcoin mining operations.

I registered a downward blip in its pricing, but it's all moving to other regions now. Within weeks it'll be back to normal, just in different locations.

[MR2 Fan]

IF this causes more bitcoin to be mined in renewable energy ways, that will really push the price up eventually

[Rare White Ape]

I've uhhhh.... learned a few things about shitcoins lately.

[Yw-slayer]

Minted some The Hippo Pool Nfts and have put one up for sale for 88 ETH. If no one buys it that's cool, I love hippos. If someone buys it, then I'll have made tons of money.

[Yw-slayer]

Nice flash crash. I got out of an eth long position just in time.