Bitcoin/Ethereum/cryptocurrencies

[Brownslave688]

Way too volatile, especially for those who are near retirement (me) or already there (you).

Does one need to throw everything into cryptos? No but some exposure isn't bad.

Hypothetically one has 100k retirement account. Losing 5k of that is not going to make any tangible difference in quality of life over the long run.


Take that 5k and let's say you buy Ethereum with it. Ethereum goes up 5 fold on the year. While the other 95% gets a normal return of 7%. Now you have $131,650 after one year.


The alternative is Ethereum tanks to zero. You lose that 5k but you still make 7% on the 95k. You end up with $101,650. Not really much better or worse off than you were before.


Option 3 you do nothing and make 7% on the 100k you got 107k. You're only up 6.5k over totally losing that 5%.


Worth the risk for me.

 

[UpstateNYUPSer(Ret)]

Does one need to throw everything into cryptos? No but some exposure isn't bad.

Hypothetically one has 100k retirement account. Losing 5k of that is not going to make any tangible difference in quality of life over the long run.


Take that 5k and let's say you buy Ethereum with it. Ethereum goes up 5 fold on the year. While the other 95% gets a normal return of 7%. Now you have $131,650 after one year.


The alternative is Ethereum tanks to zero. You lose that 5k but you still make 7% on the 95k. You end up with $101,650. Not really much better or worse off than you were before.


Option 3 you do nothing and make 7% on the 100k you got 107k. You're only up 6.5k over totally losing that 5%.


Worth the risk for me.

You are in your mid 30’s (?) while i am 56.

 

[Brownslave688]

You are in your mid 30’s (?) while i am 56.

Doesn't really matter.


Is a small percentage of your portfolio going to break you?


It's a risk analysis. Someone younger is obviously going to risk more but that doesn't mean someone older takes zero risks.


The only two options here aren't

invest all of ones money and either go broke or get rich.

Or

Stay completely out of it.


There's middle ground.

 

[UpstateNYUPSer(Ret)]

I sold my Apple holdings because I wanted to transition to a more conservative approach. The last thing I want is a bitcoin seesaw.

 

[slaveofbigbrown]

Jumped into a couple ICO’s

NEO 5000 coins
ETN 10k coins
OTN 500 coins

NEO and OTN been doing well. Etn hasn’t really moved much. Hopefully in 4-5 years I won’t have to work as hard.

 

[Brownslave688]

Jumped into a couple ICO’s

NEO 5000 coins
ETN 10k coins
OTN 500 coins

NEO and OTN been doing well. Etn hasn’t really moved much. Hopefully in 4-5 years I won’t have to work as hard.

ETN ico was penny per coin plus 10% bonus I think. You've already tripled that and After it hits the exchanges you'll probably instantly be looking at 5X.


Now you put in $100 so 100 to 500 doesn't seem huge. Had you put in 1000 though you'd be looking at being up to 5k.

 

[slaveofbigbrown]

ETN ico was penny per coin plus 10% bonus I think. You've already tripled that and After it hits the exchanges you'll probably instantly be looking at 5X.


Now you put in $100 so 100 to 500 doesn't seem huge. Had you put in 1000 though you'd be looking at being up to 5k.

Problem with ICOs are you never know if it’s a scam or not. I’m not willing to throw thousands at icos. Just too risky for me.

I sold my 10% bonus for .04 and just sitting on that till the next one catches my eye. Might start mining ETN on my computer but folks saying it’s not really worth it.

 

[Brownslave688]

Problem with ICOs are you never know if it’s a scam or not. I’m not willing to throw thousands at icos. Just too risky for me.

I sold my 10% bonus for .04 and just sitting on that till the next one catches my eye. Might start mining ETN on my computer but folks saying it’s not really worth it.

I'm interested in the ETN mining aspect. Supposedly they are working on an app to let you mine from your phone. An individual phone won't do much as far as mining but link thousands or millions together and you're on to something.

Oh yeah ICO's are sketchy as hell. I plan on buying some ETN after it hits the open market.

 

[burrheadd]

Doesn't really matter.


Is a small percentage of your portfolio going to break you?


It's a risk analysis. Someone younger is obviously going to risk more but that doesn't mean someone older takes zero risks.


The only two options here aren't

invest all of ones money and either go broke or get rich.

Or

Stay completely out of it.


There's middle ground.

Edward Jones

Would not approve

 

[Brownslave688]

Edward Jones

Would not approve

Not til they send out a pamphlet telling to.

 

[slaveofbigbrown]

I'm interested in the ETN mining aspect. Supposedly they are working on an app to let you mine from your phone. An individual phone won't do much as far as mining but link thousands or millions together and you're on to something.

Oh yeah ICO's are sketchy as hell. I plan on buying some ETN after it hits the open market.

Already is bro. Idk what exchange you use but they’re on cryptopia for now. Buy price is around 3-4 cents.

Yeah man I think once that mining app drops etn will start to do well. They definitely have a good idea going. Time will tell.

 

[Brownslave688]

Already is bro. Idk what exchange you use but they’re on cryptopia for now. Buy price is around 3-4 cents.

Yeah man I think once that mining app drops etn will start to do well. They definitely have a good idea going. Time will tell.

They've had some security issues and stuff lately. Waiting for them to get that lined out

 

[Brownslave688]

Jumped into a couple ICO’s

NEO 5000 coins
ETN 10k coins
OTN 500 coins

NEO and OTN been doing well. Etn hasn’t really moved much. Hopefully in 4-5 years I won’t have to work as hard.

Are you in on anything other than ICO's?


Seen IOTA?

 

[slaveofbigbrown]

Are you in on anything other than ICO's?


Seen IOTA?

No I haven’t. Those are my big 3 right now. I’ll do a lot of buy low/sell high and try to make a few quick bucks. I’ll have to go check it out.

 

[Brownslave688]

No I haven’t. Those are my big 3 right now. I’ll do a lot of buy low/sell high and try to make a few quick bucks. I’ll have to go check it out.

Look into it.


It's a step above block chain. Very scalable.

 

[Jones]

Anybody have any experience using Coinbase to buy/sell digital currency?

 

[slaveofbigbrown]

Anybody have any experience using Coinbase to buy/sell digital currency?

Yeah it’s what I use for buying BTC.

 

[Brownslave688]

Bitcoin cash up 28% today alone.

Volitility is off the chart. This is a gambling play. Take 10% of your portfolio if you have excess and perhaps loose the 10% or perhaps double your entire portfolio in one year.

Look what happened in Venezuela...people flocked to Bitcoin during their crisis. Now there is speculation Bitcoin will soon be their national currency.

I have not put any money where my mouth is. I am too close to retirement to gamble but a small investment could become millions in a crisis

Let's cut your 10% to 5%. There's approximately 200 trillion dollars in all different types of investments world wide.



Right now the entire crypto market has a market cap in the neighborhood of 250 billion I believe. So if people decide to invest 5% of their money in crypto that blows the roof off the market cap to 10 trillion dollars. Hell do 1% and it goes up to 2 trillion.


$8000 for one bitcoin may seem like a lot but there's room for it (and the entire crypto market) to go much much higher.

 

[Nike]

Has anyone cashed out yet? How does that work exactly, do they just send you a check in the mail in the currency of your choosing?

 

[Brownslave688]

Has anyone cashed out yet? How does that work exactly, do they just send you a check in the mail in the currency of your choosing?

You bought it with US dollars and you can get US dollars if you sell it. Or you could just spend the coins since many places are accepting them now