Anyone investing in Alt Coin/cryptocurrency ?

Discussion in 'The Lounge - Off Topic Chat' started by jhotsauce7, Jun 23, 2017.

  1. jhotsauce7

    jhotsauce7 TID Board Of Directors

    Jan 18, 2011
    just curious to hear people's positions on speculative investing in alt coins such as litecoin, ETH, XRD etc? seems like although there are quite a few, some might pay off as a speculative investment with a potential for big upside. Especially if harnessed in the B2B world... Thoughts?
  2. prime

    prime TID Board Of Directors

    Dec 31, 2011
    I have a tiny bit of eth and btc
    jhotsauce7 likes this.
  3. Rider

    Rider TID Board Of Directors

    Aug 27, 2010
    I wish I would have years ago, but now the price just got too rich for my blood. Last I checked, one bitcoin is worth $2800.

    To put that in perspective, that's much more than the worth of an ounce of gold!
  4. prime

    prime TID Board Of Directors

    Dec 31, 2011
    It's kind of like an all or nothing investment. If you go to Vegas and drop $500, I see no downside to diverting your gambling money into the cryptos. BTC upside is far more than $2800 so just dont think it's too late to get in. It can still go up 100x. Could is the key word here. I am not saying it will but it has the potential to just by grabbing 1 to 2% of the markets.
  5. ceo

    ceo VIP Member

    Oct 12, 2010
    I have some BTC and ETH. I'm up a bit.
  6. jhotsauce7

    jhotsauce7 TID Board Of Directors

    Jan 18, 2011
    Ripple has my interest right now (XRD).. I think this has the most potential upside for the buck right now. But a bit of a gamble
  7. ebony_raven

    ebony_raven TID Lady Member

    Jan 12, 2017
    Yes! I've made a few thousand off ETH! WOOT WOOT
  8. jezjzzor085

    jezjzzor085 Member

    Jan 4, 2014
    in austria you can't use it anywhere to pay in a shop
    you can invest online in mining but I don't
    Last time this us basketballer entered north corea with a "PotCoin" T-Shirt
    And recently there was an article in the sueddeutsche zeitung reporting one single bitcoin transaction needs as much energy as an average us house hold in 4 days
    So bit coin traders tend to settle in counties with low cost energy like china
    And in Venezuela(?) they even hunt for bitcoin users who by foreign goods they don't get in their country and they arrest them to stop their high energy consumption
  9. SD1959

    SD1959 VIP Member

    Mar 2, 2012
    How about cannabis and all things related? loads of penny stocks. Some will boom.
    jhotsauce7 likes this.
  10. JR Ewing

    JR Ewing VIP Member

    Nov 9, 2012
    "Speculative" is the right word.

    It's extremely volatile and unregulated. I'd tread very lightly with it. And I'd rather wait until it sells off hard again - I'd rather buy 5 shares at $500 the next time it sells off than pay $2500 or so for one share today.

    This is the kind of thing IMO that people generally shouldn't fool with at all until they've got at least 6 figures worth of assets - at least those who want to manage risk and are serious about keeping their $ and growing it into a large nestegg over the long haul.

    If you've got $100k for instance, most inclined to speculate in bitcoin would probably be better off with $5k or less in bitcoin... buy it when it's sold off hard, then sell some or most of it when or if it roars back up again in the future.

    At least $5k in cash...

    Maybe $5k in a good, solid gold ETF (that buys the physical commodity and uses little leverage)...

    Perhaps another $5k in another alt investment such as a REIT or something that shorts the broad market such as

    The remaining 80% or so could be split up more or less equally among 15-20 or more stocks spread out pretty evenly among the 11 main sectors of the market - buying 15 or more largely uncorrelated assets will greatly reduce portfolio risk during bad times.

    If you only have a few thousand dollars, I don't think it's a good idea to put all or most of it into a share or 2 of bitcoin while it's heavily overbought and sitting at or near all time highs. I'd build up a solid foundation of assets before doing any speculating. But that's just me.
  11. Warrior45

    Warrior45 TID Board Of Directors

    Nov 9, 2012
    I agree with everything our neighborhood investment guru @JR Ewing said.....however it will probably pay off to spend even $100 on say the top 3 alt coins and just hold them for a few years or longer.

    I play around with Eth, Xmr, Zec, DGB, and a few others
    pumpingiron22 and JR Ewing like this.
  12. JR Ewing

    JR Ewing VIP Member

    Nov 9, 2012
    Something that costs much less per share would be a better option for those with less money - like a share of that ETH that is ~ $300 - a share or 2 of that for someone with $10-12k wouldn't pose too much risk... Of course I'd be more inclined to buy a little bit every time it fell hard, then take profits eventually when or if it would roar back up. I'd rather buy more shares of it well below $100 than chase it when it's roared up to $300+.

    Re the cannabis stocks, I have done well with buying a couple of the better ones when they've fallen hard, then waited and sold some or all of them when they've eventually jumped up.

    I recently sold CARA above $20.

    Sold GWPH quite a while back well above $100 when they were first being rumored to be a takeover target.

    Others I've dabbled in lightly include INSYS, SMG, and ZYNE.
    prime likes this.

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