The latest episode of the Opening Arguments podcast has a good breakdown of two recent NFT news stories: https://openargs.com/oa571-mtg-dao-ngmi-and-why-palin-v-nyt-is-not-over/
Still way in the green with crypto, but that’s only because I bought Bitcoin and Ethereum cheap, and didn’t fuck around with NFTs and shitcoins. I just HODL. It really isn’t much different than stocks this way.
Interesting commentary from W. David Marx about art vs. commerce: https://culture.ghost.io/art-versus-commerce-in-the-nft-era/ "Monetization is the culture."
If any of you use Coinbase or know someone that does, have them check on their account regularly for hacks/fraud. I don’t use Coinbase anymore but I still had an account with them including a debit card linked to my crypto. I logged on today for some reason just to take a look at things and there were dozens of attempted debit card transactions! My account is empty so they were all declined but even with two factor authentication turned on and the physical card in my possession, someone was able to gain access to my account and tried to buy shit. If you fuck with crypto and keep it on an exchange, you’re asking for trouble. Put that shit in a cold storage wallet.
Yikes, even with 2FA? That’s messed up. I don’t keep my stuff on Coinbase anymore either, just the roughly $40 I’ve made from taking those giveaway quizzes.
It’s only a matter of time one of us gets taken for a ride. Playing roulette is only fun when you have the cash to burn
I’m just sitting back and not touching a single thing. I should have done that each time crypto crashed, and instead I messed around and lost profits. I don’t care if I have to sit on my crypto for the next 3+ years, value will likely come back. Same thing with stocks. I’ve lost probably 30% of my life’s savings because of the stock market taking a huge shit. My only hope for everything financial is that in time, things will get better.
It's amazing how adding just three letters to a tweet will draw a whole bunch of strangers out of the woodwork to hit the like button: https://twitter.com/rogzilla71/status/1532054721778917377
I plan on holding my bitcoin for at least the next 8 to 12 years. I look at it as a long-term savings account with the possibility that the price could skyrocket again, especially once all the coins are mined. I’ve set up an auto buy feature on my BTC exchange and I invest a little every week. I use the dollar cost averaging model and I just let it be. I don’t even check how much I’ve got and I’ve also stopped checking the price of bitcoin. I’m hoping that in the next 8 to 12 years, I’ll be pleasantly surprised. Even if the price doesn’t skyrocket, it’s still going to be worth something, I highly doubt I’m going to lose money in the long run. I guess that’s what believing in bitcoin is all about.
I fucked around and found out one time. I bought some BTC when it was like 1000 bucks per coin. The price shut up to 2500 bucks a coin and I doubled my money. I pulled it out and enjoyed the nice little profit.. Then within a year, the price shot up to like 20K per coin. I was kicking myself for not just leaving it be. If I would have just let my initial investment sit, I would be up 30X. Never again!
@hellointerloper and @noeleaser - I am asking this question in good faith, because I am genuinely curious: what was it that drew you to invest in cryptocurrency, as opposed to more conventional investment vehicles?
That’s a great question. I’ve got two reasons that I picked bitcoin. (I don’t invest in or believe in the other cryptos..) 1. I think the tech behind it is amazing and I also like the idea of a decentralized currency that is not controlled by government or any other organization. 2. Bitcoin is the best performing asset in the past 10 years. I feel like even though bitcoin has been around for a while, most people have not learned about it or invested in it yet. With that being said, it’s still way way new. I feel like buying bitcoin now is like buying Apple stock 20 years ago. https://finance.yahoo.com/news/bitcoin-becomes-best-performing-asset-132208120.html
I actually have both stocks and crypto, but a lot more in stocks. I tried crypto out because I kept hearing all these success stories from people who bought Bitcoin in its infancy, and thought “hey, maybe it’s not too late to get into this thing.” I ended up quadrupling my initial investment by day trading before the big crash early 2018. Lost all my profit, and I quit crypto. I made friends with a “crypto bro” a couple years later and said “whatever, might as well try again.” And I did really well! Even with the recent crash, I’m still in the green. So now it’s all just a waiting game. Personally I’m only involved in Bitcoin and Ethereum. I do have some in USD Coin, which doesn’t really fluctuate any because it’s tied to the US dollar. That’s just sitting around making ~7% APY. Other coins are just too risky imo.
Yeah, I have a friend who (still) works at Coinbase and he says all of his friends have been asking him if they should be buying the dip. Thanks @noeleaser and @hellointerloper for answering the question. Good luck with everything.
