General Crypto Currency world

Navigator

Christchurch Born n bred white bait fed.
Contributor
May 19, 2012
2,290
Brisbane Queensland Australia
Hello Fellow Warriors family members,
I was just wondering if any of my Warriors forum family have or are engaged in the Crypto currency world,
I have only just entered it 3 weeks ago and only with $1000,
I'm not looking for stuff to be pushed down each other's throats, I.e buy in to this token, I just would like to find people who have or are doing it.maybe we can find the next hidden gem.
Cheers
 

tajhay

Negative Nancy
Mar 30, 2012
10,457
Sydney
Hello Fellow Warriors family members,
I was just wondering if any of my Warriors forum family have or are engaged in the Crypto currency world,
I have only just entered it 3 weeks ago and only with $1000,
I'm not looking for stuff to be pushed down each other's throats, I.e buy in to this token, I just would like to find people who have or are doing it.maybe we can find the next hidden gem.
Cheers
a few of us are in it. gREVUS gREVUS is another.

Which ones you got?

I have BTC, ETH, LTC, NEO, XRP, XLM, TRX, ADA, ICX, and BNB.
 

tajhay

Negative Nancy
Mar 30, 2012
10,457
Sydney
theres an older thread on crypto btw. seems like quite a few people into it and some thinking it would be worthless.


worth mentioning bitcoin has risen minimum of 30k USD since then.
 
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Kestrel84

Rippin' and a Tearin'
Contributor
Aug 26, 2017
770
Auckland
I have BTC, ETH and XRP. Got into it early last year before the big boom, thanks to some timely advice from a friend. At first I was pretty cautious while I figured it out, but when I learnt more about it and listened to a mixture of podcasts and some more well balanced YouTubers, I was convinced. Managed to get some more when covid affected the markets and temporarily brought the value down.

I'm pretty settled with what I have and treat it as a long term investment. It has been an insane rise over the past 18 months, but I'm most impressed with Etherium at the moment.
 

wizards rage

1st Grade Fringe
Apr 18, 2016
4,553
Tauranga
I’m in the against. Obviously it has value as I FOMO investment but I see it as a store of wealth similar to gold rather than having any real world application.

It’s to volatile to every be useful as a real currency. Inflations above 2% a year and currency has problems so crypto can’t be mainstream with its volatility.

It has no underlying value as a means of assessing its value.

IF a currency does manage to go mainstream there will only ever be room for 1 main one, not the 100’s out there now.

I think it’s in a giant bubble, along with property and shares at the moment caused by government policy. When it unwinds, property and shares will drop to their underlying value... crypto will make tulip investments look good.
 
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Navigator

Christchurch Born n bred white bait fed.
Contributor
May 19, 2012
2,290
Brisbane Queensland Australia
I have 7 different ones, ada, xrp, coti, tron, ramp, and lower cost ones stormx , wink.
All long term and I have done my own research on each one, some are still 5-7 years off, others like ada are only afew months off before the smart contracts start.
Eos is one I'm looking at but still need it to come back a little yet.
Cheers
 

tajhay

Negative Nancy
Mar 30, 2012
10,457
Sydney
IF a currency does manage to go mainstream there will only ever be room for 1 main one, not the 100’s out there now.
Interested to hear why you think that. Granted there's thousands of shitcoins but there is room for many, as they serve different purpose. Not all are transacted as currency like fiat. The main thing here is blockchain. A future we will all live in WILL encompass blockchain or something better if that tech ever comes out.

Each crypto has a different purpose. Majority of investors/speculators dont know what each does.

There are large organisations trialling blockchain tech either privately or publicly. ETH and BTC are some of the smarter bets IMO.

This thread will be interesting in 5-10 years.
 

Vancent

😷
Contributor
Sep 10, 2012
1,682
BrisVegas
Funny seeing this thread come up - I got into it this week I grabbed each of the following - ONE, VET, INJ, LUNA & ANKR.

Interestingly, my mate who suggested I start a dummy portfolio the week we were talking about it in Feb, invested $5k across 5 coins and it’s worth $18.6k today.

That was enough for me to give it a crack.

Would say though I haven’t put much in and I’m prepared to lose it so not what I would call high risk.
 
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wizards rage

1st Grade Fringe
Apr 18, 2016
4,553
Tauranga
Interested to hear why you think that. Granted there's thousands of shitcoins but there is room for many, as they serve different purpose. Not all are transacted as currency like fiat. The main thing here is blockchain. A future we will all live in WILL encompass blockchain or something better if that tech ever comes out.

Each crypto has a different purpose. Majority of investors/speculators dont know what each does.

There are large organisations trialling blockchain tech either privately or publicly. ETH and BTC are some of the smarter bets IMO.

This thread will be interesting in 5-10 years.
I don’t know enough about each one but I think there will only be one global digital currency, probably with a few niches as well. And I think government will eventually step in and make sure it their one...

Good luck and hope it goes well :)
 

gREVUS

Long live the Rainbows and Butterflies
Contributor
May 8, 2012
8,656
I don’t know enough about each one but I think there will only be one global digital currency, probably with a few niches as well. And I think government will eventually step in and make sure it their one...

Good luck and hope it goes well :)
but there isnt a world currency currently, that therefore has to allow for at least one in each country.

i know the us looked at making their dollar the international standard after wwii, but pulled out because they couldnt control the volatility of the international markets.

ps. i have a tiny amount cause im always broke but i have only got bit coin and i bought at near the peak and lost a packet initally, so was put off buying any more. luckly i purchased for the long term and its come back. but im leaving it to see what happens. only playing with money i can afford to lose.
 

Navigator

Christchurch Born n bred white bait fed.
Contributor
May 19, 2012
2,290
Brisbane Queensland Australia
Be prepared for a cash towards the end of the year don't panic sell just save $$$$ to buy bitcoin and Eth.
It's all swings and roundabouts what goes round comes round.
 

Navigator

Christchurch Born n bred white bait fed.
Contributor
May 19, 2012
2,290
Brisbane Queensland Australia
I don’t know enough about each one but I think there will only be one global digital currency, probably with a few niches as well. And I think government will eventually step in and make sure it their one...

Good luck and hope it goes well :)
Australian Reserve is looking at doing their own coin, so I think the world is coming around to it, but as tajhay said: different coins/tokens do different things, just be smart do your own research, keep a level head it's a long term game not short , so if the price drops buy more, but most importantly only put in what you can afford, as I said some projects are 5_7 years from completion that's why they are only $0.48c now, heck 7 years ago 1 bitcoin would have cost you $30 now it's $ 71000.00 Aus $
 

tajhay

Negative Nancy
Mar 30, 2012
10,457
Sydney
May I ask why the Tron,
I have them as well after I did my own research, but interested in why you brought them too.
Note most of these were bought around 4 years ago. I bought TRX because I was interested in Justin Sun as he has a good pedigree and has/has a good team working with him. Majority (~80% of my investment is within BTC and ETH). Most of the others are hedge bets on stronger/promising alt coins. Landscape may have changed a bit since 4 years ago, but the stronger alts are a good bet if ppl get put off by the price of the top tier. I was never into ICOs as saw too many of my friends got burnt. Be careful of shills esp on YouTube.

MAKE SURE YOU CONSOLIDATE ALL YOUR CRYPTO INTO A HARDWARE WALLET OR ONE WELL KNOWN EXCHANGE (ie Binance).
 

tajhay

Negative Nancy
Mar 30, 2012
10,457
Sydney
So you are buying money not to spend, but for a investment. Am i missing something 🤣
Some people buy gold/silver for investment too. Supply/Demand is always a key factor in determining value of anything. BTW yes you can use crypto to pay for basically everything you want, from household bills, to travel to larger items like cars/houses.

But you are right in the sense that crypto is not mainstream yet, a large proportion of investors are buying to speculate rather than use. There are others who are using alt coins to go up in value to convert back to btc/eth/etc to increase their holdings in those.

Volatility is another thing holding it back.

I consider crypto to be in an infancy stage. Its not for everyone. If you are happy with FIAT go for it. But at the end of the day im sure you have heard the saying that its 'not worth the paper its printed on'. Im sure when printed notes were introduced, they would have been going through the same queries as we are today. "So you mean this piece of printed paper is worth than my lump of gold/silver? GTFO". The difference here is that paper can be printed on, to an endless amount. Is your $10 printed note really worth the same $10 value after the reserve bank has printed millions more since you received it?

Anyway interesting question. The world is becoming more digital infront of our eyes. It will only become more digital than physical in the future. Blockchain tech will further facilitate stronger ownership/transactional record keeping with the ledger. There will be a time when the world moves away from printed paper. Whether that happens in our time or if crypto is the successor is the question. Im personally not too sure about that. But IMO blockchain tech will be part of our everyday lives in the future.
 

Juju

1st Grade Fringe
Nov 9, 2012
1,856
I've been buying NBA Top Shot.
I've currently sold for more than I've spent on three packs and the NFT moments I'm holding are x 3 worth more than what I've spent.
Crazy old world
 

wizards rage

1st Grade Fringe
Apr 18, 2016
4,553
Tauranga
Some people buy gold/silver for investment too. Supply/Demand is always a key factor in determining value of anything. BTW yes you can use crypto to pay for basically everything you want, from household bills, to travel to larger items like cars/houses.

But you are right in the sense that crypto is not mainstream yet, a large proportion of investors are buying to speculate rather than use. There are others who are using alt coins to go up in value to convert back to btc/eth/etc to increase their holdings in those.

Volatility is another thing holding it back.

I consider crypto to be in an infancy stage. Its not for everyone. If you are happy with FIAT go for it. But at the end of the day im sure you have heard the saying that its 'not worth the paper its printed on'. Im sure when printed notes were introduced, they would have been going through the same queries as we are today. "So you mean this piece of printed paper is worth than my lump of gold/silver? GTFO". The difference here is that paper can be printed on, to an endless amount. Is your $10 printed note really worth the same $10 value after the reserve bank has printed millions more since you received it?

Anyway interesting question. The world is becoming more digital infront of our eyes. It will only become more digital than physical in the future. Blockchain tech will further facilitate stronger ownership/transactional record keeping with the ledger. There will be a time when the world moves away from printed paper. Whether that happens in our time or if crypto is the successor is the question. Im personally not too sure about that. But IMO blockchain tech will be part of our everyday lives in the future.
Currency is just a stable medium to facilitate a means of exchange of goods and services.

‘paper money’ is irrelevant as it’s just a commonly accepted medium. It works because it is stable, reliable and it has an underlying value because it is government backed and supported to support its price/ stability.

Gold works because It is stable, reliable and its underlying value is maintained by its scarcity and underpinned by its economic value (manufacturing, jewellery, etc) to maintain its value.

Crypto MUST reduce its volatility to become mainstream. It needs that price reliability to allow certainty in mainstream use. Most companies run at under 10% margin and you can’t use a currently that can swing by more than that in a day... It’s also open to manipulation which government control reduces. It has nothing underpinning its value and in a true economic crisis when crypto is more mainstream, there is nothing stopping a bloodbath. It has not faced that fully yet. We learn about the most about quality under stress. Having said that, crypto has HUGE advantages in technology payments and global money transfer. I want it to succeed and become mainstream but it have some challenges.
 

Miket12

Warriors 1st Grader
Apr 20, 2012
10,406
What I find interesting is the few people I've spoken to about the crypto currencies are also adamant that landlords in NZ should be subject to a capital gains tax when they sell their properties. Reasons included that the owning a rental property is unproductive and doesn't help with growth in NZ. They didn't like it when I pointed out neither did their "investments" and certainly didn't like it when I asked if they paid income tax on the gains their investments had made when they sold them or would they declare that income when they eventually did sell them.
 

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