Is it time to risk investing in crypto?

[bobby]

so i may be going back to and looking into investment once again 

 so how do i get this" knowledge of hardware wallets, gas fees, and how to safely transfer between networks."

Edited February 27, 2024 by bobby

[Hotteok]

13 hours ago, computerwiz said:

Crypto portfolio so far...

 

 

 

Even now, it's not too late to join the party.  Crypto's going nuts!  🤪

 

Just beware of "sell in May & go away!"  Won't be long before we're there...

 

 

Do you mean May in 2025? 
 

[computerwiz]

15 hours ago, bobby said:

so i may be going back to and looking into investment once again 

 so how do i get this" knowledge of hardware wallets, gas fees, and how to safely transfer between networks."

 

You may not need to know all that if you just stick with Robinhood or Coinbase. Now that we're entering the bull market, I wouldn't worry about Coinbase going under. But if you still want to use a hardware wallet, or you want to get at the more exotic coins like SCLP, lemme know and I can guide you. 

 

 

9 hours ago, Hotteok said:

 

Do you mean May in 2025? 
 

 

No I mean THIS May. And every May. It's a saying for a reason... 

[Hotteok]

I thought bull run would last until the end of Q1 next year.

[bobby]

4 hours ago, computerwiz said:

 

You may not need to know all that if you just stick with Robinhood or Coinbase. Now that we're entering the bull market, I wouldn't worry about Coinbase going under. But if you still want to use a hardware wallet, or you want to get at the more exotic coins like SCLP, lemme know and I can guide you. 

 

 

 

No I mean THIS May. And every May. It's a saying for a reason... 

ok so how much should i start with to invest 

[bobby]

so hear a Q. for i know with stocks you can have the dividends buy more dividends 

 can you do the same with crypto 

 

 and i was looking at coinbase that have  bitcoin, Ethereum, Tether, Solana, xpr are all

these crypto or is that some thing different 

 

and witch one invests or is there like a fund witch as all of them 

 

Edited February 28, 2024 by bobby

[computerwiz]

6 hours ago, Hotteok said:

I thought bull run would last until the end of Q1 next year.

 

It will, but there's ups AND downs along the way. May should be a down month. Maybe even June.

 

But I'm just saying that as an FYI. I am not selling before May even knowing how it will probably behave. Crypto could do something different. I just want everyone to be aware of "sell in May" and not panic if and when it happens. 

[computerwiz]

2 hours ago, bobby said:

ok so how much should i start with to invest 

 

Whatever you are comfortable with losing.

 

While gains are pretty much guaranteed, all we need is the government to say "hey let's ban crypto" and it will tank big time...

 

So always be safe & smart with your money. 

[computerwiz]

1 hour ago, bobby said:

i know with stocks you can have the dividends buy more dividends 

 can you do the same with crypto

 

Yes, to a certain extent. They don't all offer something like that. I know on Coinbase Tezos offers the most. But I'm not sure if that's a good coin. I'll look into it if you'd like. 

 

1 hour ago, bobby said:

i was looking at coinbase that have  bitcoin, Ethereum, Tether, Solana, xpr are all

these crypto or is that some thing different

 

Those are all different crypto coins. Just like there's different stocks, there's different coins. 

 

1 hour ago, bobby said:

witch one invests or is there like a fund witch as all of them 

 

You have to pick the ones you want. 

[bobby]

ok yeah can you look into that would be great 

[computerwiz]

25 minutes ago, bobby said:

ok yeah can you look into that would be great 

 

Well it's a decent coin, but I don't think it's gonna do as well as others.  In fact I never hear anyone talking about it.

 

I'd recommend going with one of these instead:

 

 

And make sure to get the original...Bitcoin.  Can't go wrong with the king!  😉

[computerwiz]

Good red day to buy today.  I picked up CGPT and COTI.

 

Memecoins are down too.  SHIB and DOGE are worth considering if you play the memecoins...

[Hotteok]

1 hour ago, computerwiz said:

Good red day to buy today.  I picked up CGPT and COTI.

 

Memecoins are down too.  SHIB and DOGE are worth considering if you play the memecoins...

Cgpt seems like a niche AI coin!

[computerwiz]

Just now, Hotteok said:

Cgpt seems like a niche AI coin!

 

Exactly why I grabbed it. Seems very functional and low market cap. Good potential! Fits the AI narrative. 

[bobby]

what about mining for Bitcoin or Crypto

[computerwiz]

1 minute ago, bobby said:

what about mining for Bitcoin or Crypto

 

For the most part, it's cost-prohibitive for the little guy.  But if you run a heater more days out of the year than A/C, there's a heater that also mines Bitcoin.  Or if you have a PC that you leave on all day, there's a few coins that offer rewards for using your extra hard drive space.

 

But again, the payments you'd get would be worth less than the electricity you use.  But if you're already leaving your PC on all the time....why not make money while doing it?

[computerwiz]

A good "podcast" for why I am heavily invested in Scallop (now called E-Money).

 

 

[bobby]

what investment company do you use to buy bitcoin

[Cushi]

@computerwizWhat do you think of XRP? I'm on break at work and don't have time to go through the thread. A guy who is a bank manager was telling me about it and that it's valued at $2 a share and that it has a potential to grow. 

 

If I get into crypto, I don’t want to invest regularly like I do my ROTH 401K and IRA. I just want to invest a few thousand and forget it and hope that it grows.

[computerwiz]

1 hour ago, Cushi said:

@computerwizWhat do you think of XRP?

 

I've got a decent amount.  Though there's 2 hugely differing opinions on it:

 

1. Ripple's going places, but Ripple is the company.  XRP's tokenomics are sketchy.

 

or

 

2. Ripple's going places.  XRP is going to the moon!

 

I think sentiment alone is going to drive XRP up a good bit.  😂  I have a lot of suspicion that it really is going places thanks to the government, and all the lawsuits were to give the gov time to set things up and get a nice position themselves.  No way to prove that though...

 

Ultimately, XRP doesn't fit in the crypto narrative (of being decentralized & avoiding control).  So that works against it.  But I still think you can make at least 5x on it from here....

 

Just understand that crypto is going to be poopy doopy for a few months.  Don't wait to get it.....but don't cry with the roller coaster ride we're in for.  

[Cushi]

2 hours ago, computerwiz said:

 

I've got a decent amount.  Though there's 2 hugely differing opinions on it:

 

1. Ripple's going places, but Ripple is the company.  XRP's tokenomics are sketchy.

 

or

 

2. Ripple's going places.  XRP is going to the moon!

 

I think sentiment alone is going to drive XRP up a good bit.  😂  I have a lot of suspicion that it really is going places thanks to the government, and all the lawsuits were to give the gov time to set things up and get a nice position themselves.  No way to prove that though...

 

Ultimately, XRP doesn't fit in the crypto narrative (of being decentralized & avoiding control).  So that works against it.  But I still think you can make at least 5x on it from here....

 

Just understand that crypto is going to be poopy doopy for a few months.  Don't wait to get it.....but don't cry with the roller coaster ride we're in for.  

Thanks brother. I really appreciate it. I'm going to spend the next few weeks researching it. I just wanted to get your opinion on it beforehand. 

My brother is BIG on Bitcoin and has been trying to get me into it. He said if I put money into it and lose any by the end of October he’ll reimburse me. I’m willing to put no more than $5,000 in crypto if I think it will get a good return if I hold. I want to look into XRP because there's the opportunity to buy more holdings vs Bitcoin.

[Mike047]

8 hours ago, Cushi said:

My brother is BIG on Bitcoin and has been trying to get me into it. He said if I put money into it and lose any by the end of October he’ll reimburse me.

This has grabbed the attention of a number of people, many with the 'get rich quick' mentality. It is wise to be very cautious when engaging in anything like this, even asking yourself if it is actually gambling. Worth checking out how you are personally viewing this.

[computerwiz]

6 hours ago, Mike047 said:

Worth checking out how you are personally viewing this.

 

Considering it's taken him this long to get into it, despite all the promoting I've been doing, I think he's doing fine.  

 

But good reminder nonetheless...

[Mike047]

It's always easy to be wise afterwards. Crypto currency has a limited life, like other currency, and we all need to make sure of our values.

[Cushi]

On 2/28/2025 at 3:59 AM, Mike047 said:

This has grabbed the attention of a number of people, many with the 'get rich quick' mentality. It is wise to be very cautious when engaging in anything like this, even asking yourself if it is actually gambling. Worth checking out how you are personally viewing this.

Thanks, I really appreciate your concern. I'm very patient when it comes to investing. I never had the get rich quick mentality when it comes to money or investing, especially since the Bible says “wealth quickly gained will dwindle, but the wealth of the one who gathers it little by little will increase.” - Proverbs 13:11.

I don’t invest because I simply want more money. I invest because I want what the money can provide - freedom/control over my time. I take a long term view when it comes to investing. I also base my decision on weeks or months of research. I didn't invest in the stock market years earlier because I was ignorant. I considered it the same as gambling. But after 3 or 4 months of intense research, I realized it wasn't gambling. Gambling is when the odds are stacked against you or are 50/50 at best. People who gamble don't base their decisions off of honest research, odds and statistics, because if they did they wouldn't gamble. If you choose a low risk investment like an S&P 500 index fund, the odds are in your favor.

 

I haven't decided yet, but if I decide to invest in crypto, it will be based off of weeks/months of research. If I find out through research that XRP or any other crytpto currency has a bright future with the odds of any investment growing exponentially, I’ll invest. Check out these two paragraphs from a book I read recently. The author talks about how he heard about Bitcoin, researched it, and decided to invest. Notice he decision was based off of research and sound reasoning. His efforts were rewarded. I'm the same way when it comes to investing.