Cryptocurrency

[AllenSam]

Disclamer:
Nothing in this thread is meant to be taken as financial advice, even if it is posted by a professional financial advisor. Cryptocurrency is highly speculative and you should never invest more than you are willing to lose. Rogue Dynasty and any user who posts here cannot be held responsible for your financial losses if you choose to invest in cryptocurrencies based on what you read here.


What do you all think of Crypocurrencies? Bitcoin is up to $50,000 per coin! Do you trade or invest in cryptocurrencies? What's your favorite coins? Do you do any charting or technical analysis? Feel free to post your predictions and ideas here.

[Carnage]

I'm currently invested in litecoin and ethereum. I only have 1 ethereum currently and don't really plan on buying more. I don't have any bitcoin, though I wish I did lol. I also bought some dogecoin as a meme.

[AllenSam]

Lol I just bought some Doge too after the whole Gamestop deal because they were pumping it. I got in at 3 cents and it went up to 8 cents but I held thinking it would go higher. I'm still up pretty good at 5 cents though.

I had 2 BTC at one point that I got for 6k in 2018 but I lost them in leverage trading. Don't ever ever EVER leverage trade lol. That IS financial advice. I would have 100k right now if I held them. :(

I picked another one up at 4k back in March in the Corona virus crash though. Sold half at 8k to get my 4k out then sold most of the rest at 35k. Did really good but now I wish I held until 50k. I still have 0.3 left though. I'm just going to hold it to see how high it goes. If it crashes back down, oh well, I got my 4k out plus a lot more.

[Phos]

Man, never got into cryptocurrency. Not really interested but from the way y'all saying, it sounds like an easy way to earn money though somewhat like a gamble

[AllenSam]

Ya it's really risky. I've learned a lot about it ever since I lost so much in leverage trading. You really need to research before you do it. If you don't know what you're doing you'll get rekt haha.

[Carnage]

35k that's awesome! I wanted to make a bitcoin farm but it's almost impossible to find a decent graphics card right now.

[AllenSam]

Ya mining isn't easy. To make any good profit, you practically need a warehouse full of supercomputers running 24/7 and the energy cost will probably take half your earnings or more.

I think Etherium is a good investment too. They just released Etherium 2.0 so it's getting a lot more efficient. I can see Etherium going to 5k in this bull run. I haven't really heard of any major improvements to Bitcoin. Bitcoin is just still on the top because it was the original. There are a lot of alt coins that are probably better technology wise. Even Doge has way faster transactions than Bitcoin but the thing people don't like about Doge is that it has no cap because it was started as a joke. But there is a limit of a few billion Doge per year I think, which is still way less inflationary than the US Dollar. Trillions of USD are printed every year without limit.

I also put a small amount in XRP. Ripple has a lawsuit going on with SEC and I think if they win the lawsuit, the price of XRP will explode. On the other hand, if they lose, Ripple will probably go under and XRP will go to 0. So I won't risk much on it lol.