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Cryptocurrency thread


phart010
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MemberPosted

Hi all. I searched for a cryptocurrency thread and could not find one. So I guess I'll start one now.

I opened a Binance account years ago. Was fairly active when BTC was at 20k, then it dropped and forgot about it. I logged in today to learn that my account was suspended as Binance will no longer be serving customers in the US!聽馃槓聽聽I was able to get passed the suspension screen and started to withdraw my currencies to Coinbase and Exodus.聽

One coin聽 I am not able to withdraw is EON (EOS Network). EON was the token that got airdropped if you had EOS in a major recognized wallet before some date in 2018 or 2019. I find little info on EON online. Coinbase and Exodus both do not have wallets for EON... what should I do with my EON? It doesnt appear to be worth much, maybe like $0.30 per token.聽 Should I just forget about it and leave it behind on my Binance account (which I am about to abandon) ??

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I actually tried mining Bitcoin when it was first released, but gave up since my computer sucked and I figured it was a waste of time. We all know how that turned out.

Bitcoin is pretty fascinating in that it's supposed to be a currency but it's traded as a commodity. Now that you can buy it on PayPal I'm watching it a little more closely as a legitimate investment option. If it nosedives like it did in late 2018, I might invest $10,000, but only looking for short term gain. I would never recommend it as a long term hold since at some point I think will truly bottom out and stay there. But hey, I was extraordinarily wrong ten years ago.

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MemberPosted

I don't understand a lick of how it works, but I've been planning on investing in some on Robinhood after the current spike settles down. I mainly target long-term high dividend, so they aren't really my style, but I'm thinking of starting small with Ripple, ETC, or even Doge.聽

For years I've thought of building a mining rig but I never really understood enough of how it worked to invest the time and money, plus youtube videos at the time would point out that unless you pay thousands for top of the line cards (and pay the ensuing California electric bills), it wasn't worth it. Of course this was back when bitcoin was around $500, so even a sliver then from a Pi 3+ and a $250 miner would be worth a profit now.

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I've been reading up on Crypto a bit lately .. Trying to figure out the best way to start investing

I definitely want both a cold wallet and a hot one, but I haven't decided on which to get.

I was looking thru this link https://cryptonews.com/guides/how-to-store-cryptocurrency-safely.htm

I think I'd prefer a wallet I can store locally on my PC, rather than a hot wallet online like coinbase, however it doesn't seem like a lot of those wallets actually have an exchange built into them so you can't actually buy from there .. and the ones that do are pretty limited in which coins you can buy..

Exodus does look pretty slick, but I forget why I ruled it out .. maybe it was the exchange thing

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1 hour ago, DoctorEncore said:

I actually tried mining Bitcoin when it was first released, but gave up since my computer sucked and I figured it was a waste of time. We all know how that turned out.

Bitcoin is pretty fascinating in that it's supposed to be a currency but it's traded as a commodity. Now that you can buy it on PayPal I'm watching it a little more closely as a legitimate investment option. If it nosedives like it did in late 2018, I might invest $10,000, but only looking for short term gain. I would never recommend it as a long term hold since at some point I think will truly bottom out and stay there. But hey, I was extraordinarily wrong ten years ago.

I got mine through PayPal. I apparently was one of the first accounts able to buy it since I was able to about a month before it launched to all users.聽It was just under $15k when I bought it and it is currently $37k, so I did well. PayPal is supposed to be adding the ability to pay for goods and services with it this year, so that will be interesting if/when that happens.聽

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12 minutes ago, Bearcat-Doug said:

I got mine through PayPal. I apparently was one of the first accounts able to buy it since I was able to about a month before it launched to all users.聽It was just under $15k when I bought it and it is currently $37k, so I did well. PayPal is supposed to be adding the ability to pay for goods and services with it this year, so that will be interesting if/when that happens.聽

Nice! What's your sell price?

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1 hour ago, Bearcat-Doug said:

I got mine through PayPal. I apparently was one of the first accounts able to buy it since I was able to about a month before it launched to all users.聽It was just under $15k when I bought it and it is currently $37k, so I did well. PayPal is supposed to be adding the ability to pay for goods and services with it this year, so that will be interesting if/when that happens.聽

Oho.,.. so you CAN actually buy some crypto thru paypall? It didn't sound like you could actually purchase crypto from them, but only store/send it, when I looked

Edited by Pendragonx
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14 minutes ago, Pendragonx said:

Oho.,.. so you CAN actually buy some crypto thru payall? It didn't sound like you could actually purchase crypto from them, but only store/send it, when I looked

You can only buy/sell/hold right now. They are supposed to be adding the pay option early this year.

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MemberPosted
52 minutes ago, CMR said:

I don't understand crypto currency.

Don鈥檛 worry about the details,聽it really is hi-tech.聽All you really need to understand is that it鈥檚 a revolutionary technology and聽the masses are starting to speculate on it.

Lots of crazy volatility over the past decade, probably will be lots more before it either goes to zero or stabilizes (in which case it will probably be our new money).

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48 minutes ago, phart010 said:

Don鈥檛 worry about the details,聽it really is hi-tech.聽All you really need to understand is that it鈥檚 a revolutionary technology and聽the masses are starting to speculate on it.

Lots of crazy volatility over the past decade, probably will be lots more before it either goes to zero or stabilizes (in which case it will probably be our new money).

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When Bitcoin was at 10 cents, my girlfriend asked me to look into it so we could invest and I didn't bother. She was a little mad about that.

When it hit $1, she asked me to look into it again and I still ignored her. she got pretty mad.

When it hit $600, we bought a bunch of it and it immediately plummeted to $300 and she got super pissed.

It recently hit $50,000 and she's not so mad anymore,

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  • 2 weeks later...
14 minutes ago, Bearcat-Doug said:

Anybody buying Bitcoin right now with it sitting around the low $30s? It seems to have support at $30k so hopefully a bump back to the $40k range聽is coming in the next few weeks.

I'll consider at $20k if it ever drops that low. Compared to GME, Bitcoin seems conservative at this point. 馃槀馃槀馃槀

Edited by DoctorEncore
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MemberPosted
33 minutes ago, Bearcat-Doug said:

Yeah, it's like everyone that cashed out their Bitcoin at $40k jumped over to GME. It's crazy!

There is definitely some reallocation going on right now.

I have about 5 - 10% of my portfolio in various ARK funds (basically my tech position relative to most of my portfolio being broader markets) -- and they have seen some definite "outflow", and it wouldn't surprise me AT ALL to find out that the net traffic was flow from ARK into GME and a couple of other meme stocks while the mania has been building.

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9 minutes ago, arch_8ngel said:

There is definitely some reallocation going on right now.

I have about 5 - 10% of my portfolio in various ARK funds (basically my tech position relative to most of my portfolio being broader markets) -- and they have seen some definite "outflow", and it wouldn't surprise me AT ALL to find out that the net traffic was flow from ARK into GME and a couple of other meme stocks while the mania has been building.

Yeah, I'm guessing a lot of fund managers聽are really busy right now.

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27 minutes ago, RegularGuyGamer said:

I'm waiting to change some Bitcoin to dogecoin but my wallet currently isn't doing transactions 馃槬

Anyone else going to dogecoin?

It's already back down to $0.04 from $0.09, so I guess around half of the group pumping it gave up already.

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