Crypto

[SentientHunter]

Berger's, Hodgdon, Lapua, etc. seems like far better investments than crypto IMHO. And I would not say they are investments.

Our investment advisor, who is LDS (Mormon), said the same thing when I asked him about gold. He's a very sharp guy and keeps ammo and alcohol on hand for trading in a SHTF scenario.

 

[Veteran]

Berger's, Hodgdon, Lapua, etc. seems like far better investments than crypto IMHO. And I would not say they are investments.

Its a LOT more volatile than powder.

Powder just goes up and stays up......

Crypto can be $100,000 one day and $25,000
the next.

It is also if the SHTF, not going to be readily accepted at a rural feed store to buy a bag of corn to plant.

What do you do to access your wallet when all electrical power is out or gone?

One EMP attack makes it worthless.

Its for kids and City folk who presently dont have much experience with survival and adversity.

I bet they would take a gold coin at a rural feed store though.....

 

[ThorM465]

Berger's, Hodgdon, Lapua, etc. seems like far better investments than crypto IMHO. And I would not say they are investments.

A good portfolio should be diversified. My investment in the above (over ~15 years) far exceeds my investment in Crypto (BTC & ETH 2020-2021 timeframe). My Crypto investment value has far exceeded the value of the former. However, I still hold that they were both good investments.

 

[Hand Skills]

bit at a time

-buy the dip (now is not the dip)

-play the long game - this stuff is more volatile than precious metals

5 weeks later, looks like the dip is here

 

[nksmfamjp]

I think you have to understand what you are buying with crypto.

Legitimate business sell you ownership in the company, so your ownership size and the value of owning that company is what values stock.

With crypto, what are you buying? You are buying into an idea that some other average investor may or may not buy for fun…..or are you buying into a share of the world's illegal businesses that need a place to hold money instead of filling up houses with cash like they did in the 80's and 90's.

I'm just asking because that was the only thing that made sense to me why a currency based on nothing has so much value.

 

[dfanonymous]

…or are you buying into a share of the world's illegal businesses that need a place to hold money.

I'm just asking because that was the only thing that made sense to me why a currency based on nothing has so much value.

Look into crypto mining.

While I can say with absolute certainty that not all blockchain activities are legal, most are. I think crypto is said to only be involved in 1% crime or something like that.

Crypto was so common that big business, banks, corporations, tech companies, etc have been using it for a while.

Why? Circumventing banks. Easier to work with internationally. No currency exchange delays. No transfer fees. Don't need to wait for bank opening hours.

It's honestly not so different than money. The dollar is just a piece of paper with water marks. It has value because the US says it has value and the world goes with it. "Global economy."

 

[nksmfamjp]

It's honestly not so different than money. The dollar is just a piece of paper with water marks. It has value because the US says it has value and the world goes with it. "Global economy."

….and the US Government will fight you if you try to devalue it. That is why the US dollar has more value than the Ven Bolivar. Venezuela cannot defend the value of their money in a real war or even hurt in a trade war.

Who will fight you with Crypto.

 

[dfanonymous]

….and the US Government will fight you if you try to devalue it. That is why the US dollar has more value than the Ven Bolivar. Venezuela cannot defend the value of their money in a real war or even hurt in a trade war.

Who will fight you with Crypto.

The US government fights themselves while also devaluing it themselves.

Because I'm older than 3, I remember when they shut the whole country off for 2 years than claimed inflation is transitory. We still haven't gotten down the 2% mark despite what's listed on the white house website.

 

[snox801]

Look into crypto mining.

While I can say with absolute certainty that not all blockchain activities are legal, most are. I think crypto is said to only be involved in 1% crime or something like that.

Crypto was so common that big business, banks, corporations, tech companies, etc have been using it for a while.

Why? Circumventing banks. Easier to work with internationally. No currency exchange delays. No transfer fees. Don't need to wait for bank opening hours.

It's honestly not so different than money. The dollar is just a piece of paper with water marks. It has value because the US says it has value and the world goes with it. "Global economy."

So kinda what my credit card will do but much slower.
Credit cards can process transactions at a much faster rate. It's accepted all over the world. Heck it's every bit as fast as buying something when I'm in the states. And all the exchange rates are done.

Crypto does nothing a credit card doesn't already do. It just wastes an incredible amount of resources and raises out power bills. It's only gonna be worth someone as long as you get a sucker to buy it at a higher price later. Kinda sounds like a ponzi.
Second thing I don't like about it is most of the young adults under 30 have crypto as the only form of retirement. Think of that. Imagine what's gonna happen when they all start to retire and have to sell to survive?

Some ponzi just online than others. But if something creates no goods or services what is it really worth? If it was a currency sure but until people use it as that and not a buy now sell higher later thing it's never gonna be currency either

 

[WGTX]

I have bought and sold a little for several years <10k. The only one I've held is XRP. Like it or not some form of crypto is where the entire global banking industry is headed, we've been using digital currency for a long time. I never actually see pay checks, seldom any kind of payment, only write 1 or 2 checks a year. As far as being wiped out due to an emp or something, as long as you transfer from your exchange onto a cold wallet you will always have your "crypto "- it's just code like a serial number.

 

[Hand Skills]

With crypto, what are you buying?

I'm just asking because that was the only thing that made sense to me why a currency based on nothing has so much value.

You are buying TRUST. This is true for any currency.

What most people dont seem to realize;

The currency of this realm is FORCE.

Dollars are just promises, and it's hard to trust Federal Reserves and Central Banks when they print the stuff indiscriminately, devaluing, debasing and eroding the very trust we give them.

Russia now trades oil in crypto, China trades it in Yuan - the USD is no longer propped up by international trade the way it has been for the last 60+yrs.

To me the most interesting thing about Bitcoin is once it's all mined, thats it. Nobody can 'print' BTC.


As such it is a DEFLATIONARY currency by nature.


TRUST is distributed - anyone can possess a ledger. There is no corruptible entity in control of it, and all transactions are public information.

Such is the DECENTRALIZED way.

Of course it's not all roses- BTC is extremely inefficient from an energy perspective. The amount of waste heat generated but the computers churning, or more properly 'hashing' away
... The amount of electricity required to sustain the system is gross.

While sustainability is debatable, the fact of the matter is it's here, and it's another step on the path. Use it, or don't.

Philosophically, I'm more of a gold and silver guy myself, like actual pieces of the stuff...

Precious metals are somewhat impractical from a commerce perspective though. There is also the question of who do I trust to store it, or is that something I undertake myself?

BTC may solve more problems than it creates. Time will tell...

 

[Veteran]

I don't trust bit coin. My test is if the shtf and chaos ensues, there will be no electric power.

Maybe if you also have a solar generator.

But there is no standard of value behind it
other than fixed supply.

But my test is if all the cities are rubble and everyone flees to rural places, what will a feed store in rural America accept in barter for corn seed to plant?

They may accept a bar of gold, a silver dollar, a gold piece? But they will likely laugh at bit coin.

Do not trust in bit coin, nor gold and silver......but in the Lord.

But, if I have to pick, I'll take gold and silver for earthly barter in chaos. Bitcoin is suited only for peace, big cities and stable civilization. Only for people who have never seen the ugly side of the coin......no pun intended....

 

[Idaho Lefty]

There is No way, on God's green Earth that, I'd be Happy with, Bit coin at, a 20 to 25 Percent LOSS, recently,.. Yikes !
My Portfolio of, Stock / Bond, Div Paying ETF's was Down, 5 to 6 Percent by Thursday Then,..
back Up, 1.5 to 2% on Friday,. BUT, I will Draw, 8.5 % in Annual Div's on them,. WHILE,. I Wait Out, the "Tough" Times !
Stock and Bond, ETF's ( Real Estate and Gold / Silver ) ARE, the Only "thing's" that, I,.. "Look at" and think that, they ARE,.."Safe" investments, IMO
As long as we Have, Electric Power and a "Rule of Law" I'll stick with, Dividend Paying, Stock and Bond,.. ETF's !
Otherwise IF, NO Electricity or, Rule of Law,.. Gold / Silver, Guns, Ammo, Food / Seeds and Whiskey for, Me.

 

[Idaho Lefty]

5 weeks later, looks like the dip is here

Yup, a 20 to 25 Percent, "Dip",.. ahh,.. NO Thanks !