cryptocurrency

[Boar]

i know nuthin about it at all. bu my uncle said i should. so i gave him 242.00 and he bought me 1 ETH. what ever it is. i boufht in this past spring.

[glenn57]

Looks like you need to cash out. I'm not into it but what I know is of it there is nothing tangeable about it. not for me.

[LPS]

I am not smart enough to understand the whole process.  That may be a good thing. 

[mike89]

wouldn't touch it either cause I don't understand it too... 

[Gunner55]

Been hearing, if your gonna play that's the 1 to be in. Not sure how it works either but it sure looks like you'd have almost $1700 profit if you got out now. Not that I would, Bitcoin was pushing $53,000 just yday. Big moves quick with this stuff so it's not for the faint of heart. 

[mike89]

don't under stand bitcoin either...

[Boar]

its fast moving stuff!

[Boar]

overnight!

[glenn57]

  but doesnt this crash and burn then go bazerk often????????

[Gunner55]

Heard a $ pro say the other day that he views it much the same as trading gold, only better. He went on to say he has gotten out of gold & put that money to work here. The other popular cryptocurrency, Bitcoin, has went from $9650 to $57,300 in the last year with 1 dip of ~ 20 % from 1/8/2021 to 2/8/2021 & up 21% in just the last 2 weeks. It's not for everybody & I wouldn't put any amount of money in it that you can't afford to lose but $250 ................meh. Personally, I wouldn't be at all surprised to see this double or triple, maybe even quadruple again by the end of the year. I have no money in it that I know of unless it's through a mutual fund in my IRA. Just my $.02

[Boar]

rigjt id never invest like thousands but i figured 242 to buy in what the hell. sucky thing is.....ibwas gona cash out at 2 grand. but it keeps climbing. not that ive reach that maybe my side by side aint to far off. lol

[Gunner55]

I don't know about cashing out but there's nothing wrong with taking a little profit. I do it, rebalance based mostly on risk, with my IRA once a year lately, at least. If you talk to your uncle you may want to sound him out on that. I'm not sure if you can own a 1/2 ETH or not? He sounds like a savvy $ guy who is looking out for you, can't hurt to see what he has to say.

[LPS]

Curious to learn more about it.  Let us know what you learn Boar.

[dutchboy]

The radio said the other that Mastercard & Paypal were looking at accepting bitcoin. If true it should shoot up I would think.

Doesn't matter to me, I'm not sticking a Nickle into anything nobody understands.

[Boar]

ITS CRASHING!!! SELL SELL SELL!

[glenn57]

The radio said the other that Mastercard & Paypal were looking at accepting bitcoin. If true it should shoot up I would think.

Doesn't matter to me, I'm not sticking a Nickle into anything nobody understands.

just wish i had a nickel!!!!!!!!

[Boar]

then what the hell you retire for ya duechnozzle??

[glenn57]

then what the hell you retire for ya duechnozzle??

you know why.

[Gunner55]

Curious to learn more about it.  Let us know what you learn Boar.

https://www.schwab.com/resource-center/insights/content/how-risky-is-it-to-buy-cryptocurrency

[Boar]

buy buy buy!!

[Boar]

wait sell high buy low....thats right!!! sell sell sell!!

[LPS]

Great article Gunner.  It is kind of a crap shoot but like anything as long as lots of people get into it after you are already in then you end up in a better position.  I think.  LOL   So like Boars deal.  Now if I want to buy in it will cost me about 2 grand to get the amount he got for $242.  Will it come down to that level again or does it frequently???  Is it a buy and sell frequently thing and get your few grand out and wait for it to come way down and do it again?  That sounds fun but too easy.  AND you can't hold it in your hand.  You can't see it.  It is on some ones list that you have it.  BUT like I said it does sound like fun.  Curious to see what you do Boar.  Can you cash that in and have the greenbacks in your hand if you want to? 

[Boar]

i dont know how to cash in buy my uncle will cut me a check for price listed. and keep the account open for himself.

[mike89]

so then you pay capital gains then?? 

[dutchboy]

Every time I read about this I have a flash back to a 80's pyramid scheme where everybody gets rich, except they don't.

[Gunner55]

so then you pay capital gains then?? 

If held more than a year, yes. For most it's 10-15%.

[Boar]

i could do it myself, but dont take the timebto learn about it. so i said ill give yu the money. cash me out when im done

[LPS]

Every time I read about this I have a flash back to a 80's pyramid scheme where everybody gets rich, except they don't.

Some friends and I got in the $25 savings bond Ponzi scheme back in the 70's.  Some made a pile of bonds I didn't cuz I got in at the tail end.  They quit the honoring the $25 bonds due to that scheme I believe. 

[Gunner55]

Yellen, the SEC, & I imagine most of the bigger brokers in these are supposed to be having some hearings on how these are currently being bought & sold. Not sure when that will be as it was just announced last week by Yellen herself. They are mainly concerned with the possibility of these being used by criminals & terrorist to launder their cash is what's being said. 

[glenn57]

Yellen, the SEC, & I imagine most of the bigger brokers in these are supposed to be having some hearings on how these are currently being bought & sold. Not sure when that will be as it was just announced last week by Yellen herself. They are mainly concerned with the possibility of these being used by criminals & terrorist to launder their cash is what's being said. 

so ALL Of a sudden boar gets involved.......... hmmmm