Anyone here day trade Cryptocurrency?

Trying to sign up to it to see how it works and it's not even letting me type my email into the sign up page :grin: This bodes well.
 
sleewell said:
bought some bitcoin this morning
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Bitcoin is a great buy, particularly if you are just investing 'what you can' per month or whatever. Another of them members here on another thread said that they were doing a little each month. It's the way that investment advisors used to tell you to contribute to RRSPs...slow and steady sort of approach.

Bitcoin can go up $2000 in a day...or go down $4000 in a day. The volatility is there in all crypto but Bitcoin is the King. Some say that Ethereum will actually knock Bitcoin out of top spot one day and although the people who make that case generally have convincing points, I still don't think that I believe it. I do believe that it will definitely make a push to further distance itself from the rest of the pack to make it clear that the #2 spot is not going to change occupants so to speak.

If you can add just a little bitcoin at a time, I think it helps stabilize your financial future and of course that is all my personal opinion because I strongly feel that fiat currencies are eroding their own foundations.


***An important note is that you should check your tax laws. I don't know any tax laws in the USA but in Canada, they already have very specific tax laws surrounding crypto currency regarding capital gains and if day trading classed as business income. It is always best to go in knowing rather than be surprised.***
 
jbj said:
Trying to sign up to it to see how it works and it's not even letting me type my email into the sign up page :grin: This bodes well.
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It probably because you are not some computer hacker type. You need to know the inner workings of computer code to use crypto...or join a darkweb
 
I d/l ed the dodge software and it's not letting me see pricing or anything else. In the past I have used coinbase which has a very easy user interface with many purchase options. After some 4 months I ended up breaking even by having different bitcoins. I recently cashed out as I honestly don't know what I'm doing.
 
xStonr said:
I d/l ed the dodge software and it's not letting me see pricing or anything else. In the past I have used coinbase which has a very easy user interface with many purchase options. After some 4 months I ended up breaking even by having different bitcoins. I recently cashed out as I honestly don't know what I'm doing.
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If you can do without the money just now is it not worth sitting on to see if it gains?

With the mortgage and car paid off recently I've no debt and a lot of cash that will sit in a savings account with horrible below inflation rates, to me its worth taking a roll on if you can afford it.
 
jbj said:
If you can do without the money just now is it not worth sitting on to see if it gains?

With the mortgage and car paid off recently I've no debt and a lot of cash that will sit in a savings account with horrible below inflation rates, to me its worth taking a roll on if you can afford it.
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I'm still open minded to crypto currency I just am not sure which route to go. Since I just moved and will have a mortgage until Nov, I don't have disposable income just yet.
 
It's actually a strange time to start into it because everything is and has been rising a lot. Many experts are saying that there is a lot more participation and money to come flowing into the market but how do you really know? I remember all of the experts back in 1999 or so talking about how the tech stocks were just going to keep going and everyone got rekt including me - thankfully I didn't have a lot invested but it was all I had so you know, that 'everything is relative' comes into play.
 
VoidTerraFirma said:
Starting to think some of this crypto stuff is kinda shady.

https://www.coinbase.com/price/cumrocket-crypto
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If there was any doubt before, let there be no doubt now. A coder can make up a currency and make it available.

That is pretty much how DOGE started. That's how thousands have started since then. The ones that will be accepted and utilized will generally be ones that are big now or ones that have a slightly different tech advantage, or a completely unforseen technology. So many of the ones that start will never do anything but make a few people rich.
 
https://www.cnbc.com/2021/05/07/ban...to-investors-risk-losing-all-their-money.html

Asked at a press conference about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.”

“I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”​
 
Kerouac said:
https://www.cnbc.com/2021/05/07/ban...to-investors-risk-losing-all-their-money.html

Asked at a press conference about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.”

“I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”​
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The old codger probably left the press conference and stole tuppence from the old bird lady outside the bank.
 
Kerouac said:
https://www.cnbc.com/2021/05/07/ban...to-investors-risk-losing-all-their-money.html

Asked at a press conference about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.”

“I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”​
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Nothing factually inaccurate there but what makes 'normal' currency worth anything? They no longer back it with gold. They print it by the billion. The people who normally say things like that are the ones who lose their power by the widespread acceptance of crypto currency or anything else that isn't controlled by the investments banks & firms.

When people put their money in regular investments they also can lose it. Or they can just put it in a bond or bank account and be outpaced by inflation while the bankers and fund managers get rich.
 
doge is poppin

everyone is talking about elon on snl this weekend, will be interesting to see what happens. i bet a lot of ppl sell if it gets to a buck.
 
sleewell said:
doge is poppin

everyone is talking about elon on snl this weekend, will be interesting to see what happens. i bet a lot of ppl sell if it gets to a buck.
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yeah i'm not willing to speculate with a crypto currency that's based on a quirky, successful, very rich businessman/engineer's appearance on a live comedy program. sounds like the makings of a super villain in a batman comic
 
Chicken Man said:
Y'all should invest in zucchini seeds like me. I'm putting in three seeds this spring, and within 4 months my investment will literally increase a thousandfold, with virtually no risk.
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The keyword there is risk. If you're prepared to take the risk, you don't mind losing it and it's your money, what's the issue?
 
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