I've been playing a bit with crypto currency as of late, think bit coin, ethereum, golem etc....My son actually got me involved in this but outside of being totally confusing it does offer the old buy low sell high tale on investment. It's all legit of course and the cutting edge of risky but pffft, I farm for a living so it can't be much worse than ducking and diving mother nature... Any other folks played in this yet?
It's a different concept that's for sure, kinda makes you think of Monopoly money. And as I mentioned I am the most ignorant owner of crypto Currency in the world more than likely, but I'm slowly learning. I will say this much, I currently am playing with two currencies other than bitcoin and since Friday one is up in value by 28% and the other 4%. Even in my ignorance I can understand the value in that...
Okay it's eight days since my crazy investment of get ready, a whopping $850 into crypto currency. The real crazy part is I'm looking at $1,675 gross on the return. So I'm going to stick another $3K into it this week and sit back and see what happens. I'll watch it of course but plan on giving it two years to see what happens. The basis of this is I've watched two separate alt-currency's start at $3.00 and jump to $70 plus in the two year time span. Will it ebb and flow, of course but it can't be as bad as a stinking savings account these days.. Unfortunately this is the end of my play money so I hope it works out or at the very least I pay attention and play it enough to break even...If it does work you can address me as Mr. Ralph or his highness the Lime King in future communications
Doubled in 8 days... What a horrid return! Good luck Ralph... hope to address the Lime King when we meet again in October.
Lol, his highness will suffice 8) I may even pickup the cost of the appetizer at dinner... Looking forward to seeing you guys as well...
So I have to ask, how do you invest in Crypto Currency? Call your broker, have to go to websites in Eastern Europe?
Well it involves a 25 year old son that from an investment standpoint I'm still trying to decide if it was the right decision. His recent graduation from the University of Florida indicates he is an expert in Marijuana law, IPA beer purchasing and because of a business degree roommate crypto currency. But first a couple links to share... https://seekingalpha.com/article/4052276-cryptocurrency-funds-arrived-bringing-wall-street-money http://igaming.org/cryptocurrencies/section/how-to-buy-cryptocurrencies/ https://medium.com/@nellsonx/how-to-properly-invest-in-bitcoin-blockchain-and-other-cryptocurrencies-in-2017-32d59e2ff435 Above mentioned son started talking to me two years ago of this thing called bitcoin, tried to explain to me that you might consider buying this in some form or fashion. At that time the price was $178.00 ( $1,540.00 currently) but I was like what in the world are you talking about, is this an international course, is Russia involved...? Where in the hell is your report card and why are you addding an additional year I was thinking... Post future or currently I could have paid for his doctorate if I listened to his rumbling on bitcoin...So move to present, Daddio has son that's graduated, bitcoin is $1,540.00, wasn't it just $178.00 a short time ago. He mentions that other alt-currencies are moving and I invest.. Eight days later I'm looking at double of my investment from the marijuana law expert who is soon to be Investment banker and recent crypto currency expert to invest $4k more on this crazy none sense that nobody understands Believe me, there are no risk involved in doing this.... :shock: :shock:
One serious question: (yes I'm too lazy to read the supplied materials!) Is this like stock, where your risk is limited to what you put in, or is it like futures where you could lose more??? :?:
No it's like stock where your only risk is what you put in. In all honesty it's not very difficult an investment outside anything else. What drives me crazy is the storage and purchasing of the currency. You need to setup a digital coin wallet to do both of these things https://www.coinbase.com/?locale=en Once that is accomplished it's as easy as opening the app on your phone and buying or selling...
Not wanting to sound like a major butt head, and yeah I'm probably one regardless but it's been almost 30 days since my foray into this digital currency. I've made three different investments during that time frame with almost no knowledge or experience except what my son has shared and in reading. I'm currently at a whopping $7,100 for my total out of pocket expense mainly because I kept making money. Unfortunately this is the pinnacle of my mad money and have no more to play with. Yeah I can grab funds from the normal bank accounts and probably should but I'm married to a regressed CPA woman who screams in octaves I cannot listen to for great lengths if I touch our or her security funds.. 8) Current balance is $11,500 so my gain has been $4,400 in what 30 days....I don't know about you but Wells Fargo hasn't been returning anything like this on my money....It's been a cool experience and experiment and yeah it' been up and down but good gosh it's been worth it... Enough of my yapping, just wanted to share my experience with my friends...
Hahaha, oh believe me we both know it's going to happen and I've got my speed dial setup to sell, sell, sell....Interesting thing is this is being driven by Japan and it's 40 trillion dollar economy as it incorporates digital currency into it's market, China then the U.S. That being said I woke up with an additional 2k on top of what I listed above, ride the wave baby!!!
Ralph when are you going to convert the back 40 to a 9 hole golf course with an infinity pool next to the new clubhouse?
I'm considering a sporting clay course against the river for the first expansion of Ralphies world... 15 days til it's been two full months on this hayride and currently it's only $6k per month, I'm shooting for $7k per month personally by the 22nd and my two month trial evaluation. Son and I have taken the initiative to purchase the parts to build a mining computer so it's a entirely new adventure after that... I keep telling y'all this is quite interesting
One last time, you guys need to at the very least consider reading up on this crazy stuff, I can't say enough positive, 8 more days until it's 60 days. I won't say anymore after that point.
Averaging $10k per month with seven days to go, it fluctuates just like the stock market does with folks making gains by selling and others buying. It's pretty volatile I'm not going to lie its not for the faint of heart but good gosh at the returns. That being said I think the best advice is don't invest what your not willing to lose, I have a total of $7,000 in it and that started out as a $400 investment before adding to it, I'm not willing to add to that and will just let this ride. My goal was to not lose any money while trying this out and that has been accomplished to this point. I sold my bitcoin and now only have Alt-coins which is similar to stock in a company so knowing the goals and projected value of the company is a must. Example: My last coin/token purchase was in a Lithuanian company that is making a decentralized VPN available to all internet users and untraceable as it's on the blockchain. What this means is as more of what we do on the internet is recorded by either govt or advertisers the VPN makes your IP address unkown. There are several companies like this out there that already sell VPN's as I'm sure your more aware than I am about this Scott. This companies advantage is by using the blockchain the information is not stored at a central hub that can be subpoenaed by govt if they so desire. It is scattered among thousands of computers and not vulnerable to the NSA, Russia and others. So with this knowledge I think its a pretty smart investment and will be desired in the future so I bought interest in it by purchasing its coins/tokens. This digital currency is much more than I originally thought it was...And by the way that Lithuanian companies coins are worth double than what I originally paid so it was a great purchase, question now is do I sell short and profit or go long with it...