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Who's into Crypto? | Started by: Severide on May 19, '21 04:08 |
Imperium no one is really in charge of crypto. Any crypto that is being directly controlled by some entity will likely not succeed in the long run unless of course it's issued by the government, whereby we're trusting the government. It's the people as a whole decides what goes or not. Of course, it's still subject to attacks by few who actively seek for vulnerabilities or exploits to make money. So it's more about how secure and usable it is, and with that, comes trust. |
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Reply by: Kleeraide at May 15, '22 07:51 | |
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kleeraide I appreciate you sharing your response. It seems like you have invested in cryptocurrency, any good brand you recommend looking into? |
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Reply by: Imperium at May 15, '22 15:13 | |
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Imperium Crypto isn't about branding. Of course, you can like certain crypto and buy it (I've done it; Hint: I have Shiba-inu in my social media feed) but if you're in for investment, understanding how the blockchain works even on the surface is important. You shouldn't blindly buy into any stock without understanding what they're doing so similar rule applies here. To be honest, I'm not knowledgeable enough to understand the technical details in crypto whitepaper but market capitalization of a crypto is an indicator of it being trusted by many. If you're asking about cheap crypto hoping it to go to the moon, it's equivalent to hoping to make a fortune from buying penny stock. Potentially high return but it's high risk. Investment is all about your risk appetite. Since crypto itself is relatively high risk, you shouldn't go into crypto if you're not tolerant of the risk and stick with traditional investment methods. I have lower risk appetite within crypto space so I would only invest relatively significant amount into BTC and ETH. Other smaller ones too if I have some spare change. |
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Reply by: Kleeraide at May 16, '22 01:33 | |
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I like drugs like the rest of them. I’m down with the weed. Mandy some coke on a good night but I have never tried the crypto. It kills SuperMan. What would it do to me. Idk. But I’m not gonna try it | |
Reply by: Dak- at May 18, '22 00:23 | |
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For the sake of clarity, Bitcoin is without a main entity “in charge” of it. Some people who are not well versed in that space think cryptocurrency and Bitcoin are the same/interchangeable and that serves to confuse/complicate things for people who are not knowledgeable but curious. Most of the top coins are not intended to be used as currency, the coins are more like investing in their blockchain or projects. There most likely won’t be a scenario where purchases are made between two people with say Polkadot. Polkadot is a cryptocurrency but not intended as a form of currency. I don’t want to get too techy or nerdy and confuse people because it’s a lot to take in, but it’s not hard to learn about the space. I went from knowing jack shit to being relatively fluent in a short amount of time. But anyone looking to dip their toe into it, now might be a decent time as everything is in the toilet. If anyone mails me looking to get started or have some basic questions just mail me with “crypto” in the subject and we can chat OOC about it. I enjoy talking about it with people. Sadly, MR credits are currently outperforming most of my portfolio at the moment, and have more utility than most of them lol. Everything is very new right now so it’s still very “Wild West” out there and very unstable so I wouldn’t recommend anyone get into it without studying up first, or just buy Bitcoin and Ethereum and forget all the rest. |
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Reply by: FrizzleFry at May 18, '22 02:47 | |
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Furthermore for anyone interested in getting into it but not sure how to learn about it, or are looking for advice, I would suggest looking elsewhere than the Outside forum of MR. No offense to anyone that’s posted in here, I haven’t read the entire thread. Regardless good luck out there | |
Reply by: FrizzleFry at May 18, '22 03:03 | |
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I am in crypto a long time, it was nice :p but lately it went wrong. I think i just have to sit and wait for better times to come, IF they come. | |
Reply by: Puma at May 18, '22 06:36 | |
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I have the options to buy them by selling virtual drugs that were created from buying them too. It's great! :P I'm also only barely fluent in crypto because it is everchanging day by day and more questions will arise as you dig deeper into it with no end when you get technical. It's exciting to me because I'm into technology and it's fascinating to see how technology is being applied to affect real life. |
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Reply by: Kleeraide at May 18, '22 10:00 | |
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I have always wanted to get into Crypto, mainly for the money, but too lazy to invest time watching youtubes and reading reddit to learn the ins and outs and how to make money. So I just sit idle as my friends make money |
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Reply by: Vidal at May 18, '22 11:42 | |
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I wouldn't say I'm necessarily 'into' crypto. But I do have some Ethereum and some other L2 coins. I did some Eth mining as well before Energy prices went crazy. I still think there's value in crypto, but its a long way off before we see mainstream trust. I'll hodl my ethereum until I retire :D |
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Reply by: ThisCharmingMan at May 18, '22 14:36 | |
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