Is it time to risk investing in crypto?

[bobby]

10 hours ago, M.J. said:

Stock market is excluded from SSDI 

 

https://www.investopedia.com/investments-an-important-income-source-for-people-with-disabilities-5097365

 

 

interesting  i have all ways wonted to invest in REITs as well um so how do i get into crypto or bitcoin 

and do you if it would affect Medicare and Medicaid

Edited October 5, 2022 by bobby

[computerwiz]

8 minutes ago, bobby said:

interesting  i have all ways wonted to invest in REITs as well um so how do i get into crypto or bitcoin

If you want to get 8% interest on your crypto, you can use FTX (formerly Blockfolio).  It's the quickest and easiest one to start with:

https://link.blockfolio.com/9dzp/u319ag0k

 

 

If you want to use bots to buy & sell for you, you can use Pionex.  Bots can take anywhere from $100 - $500 to create a good one.  But they do the buying & selling for you so you don't have to worry about figuring when to take profits.  You don't have to use the bots, but Pionex's interface is a little more complex.  Would be good to use if you'd like to maybe explore the bots later:

https://www.pionex.us/en-US/sign/ref/v4EnHQX6

 

Whichever route you take, I can assist as needed.  And always remember these tips:

 

Tip #1: Only use money you don't mind missing.

 

Tip #2: You never lose....until you sell. If you're in a solid coin/company and it goes down, either hang on tight or buy more.

 

Tip #3: Play with long-term in mind.

 

Tip #4: Track your trades AS YOU MAKE THEM.  If you want to be prepared for taxes, you need to track your trades.

 

 

 

 

[computerwiz]

18 hours ago, bobby said:

ok so hear my Q. to you 

  if and only if i wonted to why would i buy crypto or bitcoin

can it pay my rent, put food on the table, buy gas, a new, car or home 

pay my power bill, 

BTW - It is getting more and more mainstream.  Check this out...

 

 

[M.J.]

Tip #1: Only use money you don't mind missing.

Tip #1: Only use money you don't mind missing.

Tip #1: Only use money you don't mind missing.

[computerwiz]

Just an update on the markets.  Today & tomorrow are probably gonna be the best times to get into crypto.  The CPI (inflation) reading comes in Thursday, which might be bad and might take us a little lower.  But I'm not too worried about it.

 

[carlos]

Since this is a delicate subject we have added a warning message to this thread:

 

JWTalk doesn't offer advice about investments. The contents of this thread are just personal opinions of members and may be wrong. Many people who invest in crypto lose most of their investment. Don't invest any money you can't afford to lose and consult an expert before investing a big sum (Proverbs 21:5). If things go wrong, don't say JWTalk recommended it, we didn't.

[computerwiz]

3 minutes ago, carlos said:

Since this is a delicate subject we have added a warning message to this thread:

 

JWTalk doesn't offer advice about investments. The contents of this thread are just personal opinions of members and may be wrong. Many people who invest in crypto lose most of their investment. Don't invest any money you can't afford to lose and consult an expert before investing a big sum (Proverbs 21:5). If thinks go wrong, don't say JWTalk recommended it, we didn't.

 

Thanks!!  It's an important reminder.  

[Shawnster]

On 9/27/2022 at 12:34 PM, computerwiz said:

DISCLAIMER: All info below is to be considered "entertainment purposes only".  I'm not a financial advisor.  This is not financial advice.  Everyone must consider his/her own risk tolerance and be reasonable with investing

Really? 

 

I mean, this mumbo jumbo is common in secular ventures and might protect people from legal repercussions, but really? 

 

Entertainment purposes 

[computerwiz]

2 hours ago, Shawnster said:

Really? 

 

I mean, this mumbo jumbo is common in secular ventures and might protect people from legal repercussions, but really? 

 

Entertainment purposes 

I have no idea if that even matters or works.     But in this day and age, you gotta worry about every little thing.  Figure everyone else says it, so why not.  

[M.J.]

5 hours ago, Shawnster said:

Really?

Yes, most definitely. If you don't, then it's a lawsuit waiting to happen. Just a matter of the right circumstances.

I personally breathed a sigh of relief when I saw he had written that. 

[Paul20]

Quote

 

1 Timothy 6:10

For the love of money is a root of all sorts of injurious things, and by reaching out for this love some have been led astray from the faith and have stabbed themselves all over with many pains.

 

Sadly I know a brother who was led astray after making a lot of money with Bitcoin. I can only pray that he finds his way back before it's too late.

[Dawid]

Now we have November and Bitcoin is very low

 

[computerwiz]

9 minutes ago, Dawid said:

Now we have November and Bitcoin is very low

 

 

Yep.  Everything was going great and was fine and peachy, but then some drama happened and FTX is shutting down, which spooked the whole market.  And why wouldn't it....FTX was the 4th largest exchange.    But in my crypto discord, I warned everyone to get off of FTX about 3 weeks ago.  Saw some red flags...just didn't realize it would end up this bad for the whole market.

 

BlockFi looks like it's next.  Possibly KuCoin.  Might be a few more too.  One last round of poorly managed exchanges getting shut down.  They took rehypothecation too far, and now they're paying for it.

 

So if anyone is in crypto right now......GET YOUR COINS OFF OF THE EXCHANGES!  Not your keys, not your crypto.  Buy a Ledger Nano or some other device and store your coins there.

 

We will probably see a little more drama before crypto resumes heading upwards.  This market is definitely not for the faint of heart.  And also why I said to only use money you don't mind missing or having locked up for 2-3 years.  That's how long it's gonna take to see new all-time-highs.  

 

 

[Dages]

They will throw their cryptos into the streets, and their gold will become abhorrent to them. Neither their cryptos nor their gold will be able to save them in the day of Jehovah’s fury.

[New World Explorer]

Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.

[Dustparticle]

10 hours ago, New World Explorer said:

Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.

Will it work?

[computerwiz]

On 11/12/2022 at 4:57 PM, Dustparticle said:

Will it work?

 

Probably not.  The more that gets revealed, the more FTX looks like a giant scam.  One of the biggest scams of the century.

 

Just adds more fuel to the "not your keys, not your crypto" fire.  I got a Ledger Nano S+ to store all my crypto.  Smartest move I ever did.  Got out of FTX 3 weeks before all this went down after I saw Texas opened an investigation on them...

[bobby]

just read this 

 

   https://spectrum.ieee.org/quantum-safe-encryption-hacked 

[Dawid]

6 hours ago, bobby said:

just read this 

 

   https://spectrum.ieee.org/quantum-safe-encryption-hacked 

Sofisticated is this article. But no human idea of investing is safe

[Dustparticle]

7 hours ago, Dawid said:

Sofisticated is this article. But no human idea of investing is safe

That is true, especially stocks that is not regulated by federal government like crypto. What is crazy is that feds allow this scam to happen. Sick world.

[GodlyDevotion]

8 hours ago, Dustparticle said:

That is true, especially stocks that are not regulated by the federal government like crypto. What is crazy is that the feds allow this scam to happen. Sick world.

The reality is there is a lot of corruption in finance. I knew this would happen after an analysis of the foreign exchange market. Since the pandemic, there have been a lot of manipulations and crypto would be a target. I mentioned this a while back on a thread I think.

 

I have been with cryptocurrency for some years. I lost trust in it when they introduced the futures contract. Before that, crypto used spot trading for trading contracts. Spot trading typically means you can buy and invest in it by trading it. With the majority of people buying, you can only expect its value to go up coupled with a sizeable amount of crypto coins released every period. Back then, you can not trade sell positions by shorting. You can only trade by buying it. Although, you can sell your coins to another person.

 

With futures, however, the opportunity to short it now exists. This opens crypto to a lot of vulnerabilities meaning crypto is at the mercy of big financial banks, or who knows, the central banks. What happens when the feds have major banks decide to short (or trade it by selling) BTC with billions of dollars, wouldn't it instantly go to zero? That's what a decentralized gets it, no regulation or protection available in the financial markets. I have hence decided it is too much of a risk and not my cup of tea. Also, with the inflation happening, I expect something worse to come. How does inflation affect it? Risk on/risk off. This means that pairs directly traded with USD are targeted. Dollar goes up, they come down. This wouldn't happen if they stayed with spot trading because you only bought. But with futures, BTC would be dumping hard because traders will be shorting it, and who knows, financial banks. Lastly, I just don't trust my investment in the hands of an unknown figure that hasn't been found. 

 

I don't have a problem with the technology of blockchain. It looks too good and brilliant to be tossed away, but I don't think it is what it should be yet. And yes, I'm not a financial advisor 🙂

Edited November 16, 2022 by GodlyDevotion

[New World Explorer]

New YorkCNN Business — 

A new court filing about Sam Bankman-Fried’s bankrupt companies reveals a crypto empire that was colossally mismanaged and potentially fraudulent — a “complete failure of corporate controls” that eclipses even that of Enron.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” FTX’s new CEO, John J. Ray III, wrote in a court filing Thursday. He previously oversaw Enron’s liquidation in the 2000s, among other bankruptcy cases.https://edition.cnn.com/2022/11/17/business/ftx-ceo-complete-failure/index.html

[Dustparticle]

4 hours ago, New World Explorer said:

New YorkCNN Business — 

A new court filing about Sam Bankman-Fried’s bankrupt companies reveals a crypto empire that was colossally mismanaged and potentially fraudulent — a “complete failure of corporate controls” that eclipses even that of Enron.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” FTX’s new CEO, John J. Ray III, wrote in a court filing Thursday. He previously oversaw Enron’s liquidation in the 2000s, among other bankruptcy cases.https://edition.cnn.com/2022/11/17/business/ftx-ceo-complete-failure/index.html

And the FEDS alow it to happen. 

[trottigy]

12 hours ago, Dustparticle said:

And the FEDS alow it to happen. 

I don't think that people who deal in cryptocurrency wanted the Federal reserve involved. Wasn't that one of the primary selling points for investing in crypto is that the federal reserve had nothing to do with it? Of course, that was the primary reason I was never going to invest in crypto. But you know some people like buying electronic numbers.

 

I'm glad we added this warning at the beginning of this thread:

 

Quote

JWTalk doesn't offer advice about investments. The contents of this thread are just personal opinions of members and may be wrong. Many people who invest in crypto lose most of their investment. Don't invest any money you can't afford to lose and consult an expert before investing a big sum (Proverbs 21:5). If things go wrong, don't say JWTalk recommended it, we didn't.

 

Edited November 20, 2022 by trottigy

[Dages]

Should we change the ! for a ? in the title?