Crypto questions

[delliottg]

A while back I decided to buy some crypto and ended up spending $500 on Doge & Shiba Inu. I bought them mostly because they were the most familiar names to me, and well, I like dogs. That gives you some idea of my sophistication when it comes to crypto. In the intervening months, I've lost about 40% of my investment, which I'm not too fussed about, I didn't really expect to make much money if any, which is why I limited my buy to a really bad casino night's losses.

I've been reading that both Doge & Shiba Inu could (heavy stress on could) go over $1 in the not too distant future, with predictions of $2 on Shiba Inu sprinkled in. That would give me a very nice return on Doge, and enough money to never work again with Shiba Inu (and sprinkle vacation houses around the world). Now I'm reasonably sure this isn't going to happen, but it's nice to dream. Even if Shiba Inu made it to about a dime, I'd still be able to retire comfortably (with fewer vacation houses).

Those of you who are more familiar with crypto, what are your thoughts, feelings, guesses, and predictions about these and any other crypto you may be invested in? I have a few other crypto assets, but they're the ones you get for taking the mini-courses on Coinbase, so their base value is probably less than $30, although most of them are actually doing better than my big two.

[golddigger14s]

I have about the same amount about $5-600 worth of doge, down about 70%. I will just hold on to t till it goes to zero or hero.

[Arisaka]

I don’t know anything about crypto, which is why I never bought any.

[Col_Temp]

Crypoto is the new casino.
It's value is really what someone else is willing to pay for it.
There is a certain value that was required to mine aka make the coin but that was then.

Many have stayed away because really there is nothing but a piece of paper that says you have something. It much like the fiat currency in use as cash. It only has value because people believe it has value.

Crypto is very much the wild west of finance. Almost no regulation, can we say ftx and others, and plenty of manipulation.

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[Massivedesign]

Dollar dreams started with the TRX (tron) dreams 7 years ago.

If SHIB hits $1 I’m buying an island. I’ve made over $2k on SHIB during the swings and am just playing with some profit $$ on that now, holding for a spike.

DOGE will take a bit for me to get where I want to be. I played it up and down and made some quick cash, but recent cost averages have me break even at .38 cents. I’ll make a few grand if she hits a dollar.

[WaJim]

...


Google Farmington bank crypto.

ok...ill do it

https://www.nytimes.com/2022/11/23/busi ... -bank.html

[Jeffro]

My question would be, how do you cash out?
I mean turning your computer images into actual money that you can buy groceries with.
Or do your private Fanasty Island from someone who takes a screenshot as a down payment?

[Pablo]

I don’t know anything about crypto, which is why I never bought any.

I know a lot about crypto, which is why I never bought any.

Couldn't fix it, so copied your theme.

[stompah]

My question would be, how do you cash out?

Same way you would cash out a stock. Few button clicks on your exchange and convert to USD. Then transfer to your bank account.

If the the person you're buying from accepts crypto it's easier. Just enter their wallet address and the amount of coin you're sending.

[Old Growth]

Just another scheme.

[WaJim]

Just another scheme.

Agreed, its scary

Like buying gold bullion and all you get from the mint is a piece of paper/text/email saying you own ten troy ounces.

[dennydp]

What could possibly go wrong?

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[Pablo]

What could possibly go wrong?

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https://www.wsj.com/articles/ftx-founde ... 1670890250

FTX founder Sam Bankman-Fried has been arrested in the Bahamas after the United States filed criminal charges, the Office of the Attorney General of the Bahamas said on Monday.

FTX experienced massive withdrawals as customers grew worried about its financial health this fall, and reports surfaced that the company had lent billions of dollars in customer assets to fund risky bets by Alameda Research, a crypto hedge fund controlled by Mr. Bankman-Fried.

[redstar]

Its not worth the paper its not printed on...

Have read up on it quite a bit...its a speculation game built on confidence...no thanks

[Massivedesign]

Those who have been in it for a while see the value / risk and play accordingly. Those who can’t, don’t and shouldn’t.