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*this is not financial advice and I know nothing, take the above message accordingly*
When you start seeing articles that say stuff like “is this the end of crypto”, that’s when I buy. It’s worked well after initially starting with a high average.
i bought a lot in some lower level coins, the little changes are pretty drastic for big gains or big losses. but i look at them as short term 3-6mo coins.
XRP is what i did really well on at the first of the year. i bought at .31 and sold at 1.70 so that was a huge gain.
those are the ones i like to dabble in. i have a ton of XRP again and if it ever goes big then it will be a nice gainer.
i would get your feet wet with $300-$500 in a few small level coins just to figure out what you like to do.
My crypto hasn’t been all that amazing.
https://racerxonline.com/2021/09/23/cole-seely-becomes-first-profession…
Hope some celeb blows up its “value”. Just need it to hit $0.01 or more now haha
https://www.vice.com/en/article/bvmgqa/the-crypto-crash-just-got-a-lot-…
Pit Row
A fantasy asset digital token is worth fricken like 4 months of my salary at 21k. That's still pretty damn amazing.
What crypto if any can be trusted? Not a hater of Crypto buyers, and if you’ve got the nads to risk large sums for a big potential win good on ya. Good fit for a Moto dude. Guess I’m too old for that level risk.
I know there are always headlines about "hacked" coins and all that, but you have to remember that this is a rapidly growing space with a lot of ideas being tried (and failing) in a very short amount of time. Most of the security issues you're seeing are on sketch exchanges or through transactions done on layer 3 networks that aren't really proven at this point. What it all really boils down to is speed, if you want instantaneous transactions you're going to pay a price in security risk, but if you're willing to move money around a bit more slowly on the regular Bitcoin blockchain your funds are essentially tamper proof.
If you were to open up a trading account on Coinbase (high fees, but you get a very simple user interface and great security), purchase some well known coins like Bitcoin or Ethereum, then transfer the funds to either a software or hardware wallet it would be extremely unlikely that you would lose your coins. Traditionalists will tell you that keeping your coins on any sort of exchange (think of it like a trading account on any major brokerage site) is risky, but in reality I feel that the security of the major exchanges has to be pretty darn good. Obviously do your own research, but that's my feeling, I know just enough to be dangerous.
The subject of nothing backing it is way too broad to cover here, but I will ask this, what's backing your dollars? The answer is nothing, absolutely nothing but the fact that we accept it as a medium of exchange like all fiat currencies. The difference between Bitcoin and dollars is that dollars are controlled by a central authority that can, and will, increase the supply as they see fit, whereas Bitcoin is set at a fixed amount that will never be increased making it the ultimate hard asset. This gets a bit more philosophical, but I have absolutely zero trust in our current institutions to manage our currency in a responsible way, and I view Bitcoin and other cryptos as my way of opting out of that system.
Post a reply to: Anyone else been cashing in on crypto?