Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Have Any Freepers Had Experience With BitCoin/CryptoCurrency?
12-13-2017 | Eagles Field

Posted on 12/13/2017 3:02:29 PM PST by Eagles Field

2018, I'm goin'in !


TOPICS: Business/Economy; Chit/Chat; Education; Miscellaneous
KEYWORDS: bitcoin; btc; cryptocurrency; economy; money
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-94 next last
To: Eagles Field
I'd never take financial advice from Freepers. You see their condescension here in their responses. They're more than willing to throw out advice, yet they won't even take the risk to try something like bitcoin.

But I'm getting into bitcoin a little at a time: I have friends who are spending thousands of dollars--I won't do that. The only advice I would take from Freepers here are two: Funny, my MBA son called me today about opening up an account for him. He likes the company Ripple XRP and thinks they will be the next Bitcoin. And . . .

Don't invest more than you can afford to lose.

So the way I'm getting in is a bit at a time. I suggest that you touch base with the Jen and Mike Subscriber's status on Facebook. These two are very conservative and don't push you. They suggest one program, for example, that starts with very low costs to get in. They are very helpful and have replied to every question I've asked them.

And, by the way, if you're willing to take some additional small risks, you might look at Ethereum. The price right now is low, but it is rising, and you can get in for fractional coins. There are other cryptocurrencies that are coming up. I'm handling them as one one would handle and invest in penny stocks. They are very inexpensive. Many may not go anywhere, but some of them could eventually take off. I have one correspondent who is wealthy in bitcoin. His investments are now worth hundreds of thousands. He started out four years ago with a $10 investment in bitcoin.

Finally, there are a number of inexpensive books on Amazon--a few dollars or less each that will give you information on which to start out.

Good luck. I hope you make tons of money.

41 posted on 12/13/2017 3:35:34 PM PST by righttackle44 (Take scalps. Leave the bodies as a warning.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eagles Field
You'd be betting on bits that are backed by nothing.
It's ultimately like video game gold.
If you don't understand it, don't do it.

42 posted on 12/13/2017 3:37:15 PM PST by BitWielder1 (I'd rather have Unequal Wealth than Equal Poverty.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eagles Field

When every taxi driver in New Jersey is talking about cryptocurrencies, it’s time to get out.


43 posted on 12/13/2017 3:38:28 PM PST by Bon mots
[ Post Reply | Private Reply | To 1 | View Replies]

To: LouieFisk

Why?

Someone was talking about it on the radio this morning and said that it was up something like 15,000%. When you buy at the top is is a good way to lose money. Someone will figure out how to harvest your money and leave you holding the bag.


44 posted on 12/13/2017 3:39:07 PM PST by mountainlion (Live well for those that did not make it back.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: E. Pluribus Unum
Now is not the time, but if/when you do, keep your own wallet, don’t put it in Coinbase or anything similar.

The whole point of Bitcoin is to protect yourself from the predations of governments and banks

Exactly.

45 posted on 12/13/2017 3:40:15 PM PST by TADSLOS (Reset Underway!)
[ Post Reply | Private Reply | To 38 | View Replies]

To: Aria
Don’t put any more in than you can afford to lose.

Sound advice for any investor.

46 posted on 12/13/2017 3:40:18 PM PST by onona
[ Post Reply | Private Reply | To 12 | View Replies]

To: LouieFisk

I use Coinbase - so far it’s worked fine.


47 posted on 12/13/2017 3:43:19 PM PST by Aria
[ Post Reply | Private Reply | To 40 | View Replies]

To: Eagles Field; All

Let me be clear, if you are hearing about it on FR, you’re too late


48 posted on 12/13/2017 3:44:40 PM PST by George Rand
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eagles Field
A "currency" found only on the web,completely unregulated and unsupported with no way to...

Call me old fashioned but I'd go with Swiss francs!

49 posted on 12/13/2017 3:46:24 PM PST by Gay State Conservative (Remember: All Cultures Are Equal!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mountainlion

“When you buy at the top is is a good way to lose money.”

It’s got Ponzi written all over it.
I’d suggest buying junk silver (dimes with silver content) if a person wants to experiment and learn about value & investment and not lose their shirt.
Even if silver crashed completely, you still at least have the dime’s face value.
Tangible assets.


50 posted on 12/13/2017 3:47:49 PM PST by LouieFisk
[ Post Reply | Private Reply | To 44 | View Replies]

To: Eagles Field

Yes, been in BTC since 2013. Here is some serious, practical advice:

(1) Read “Digital Gold” by Nathaniel Popper. An excellent read on the first few years of bitcoin through 2014. Educate yourself as best you can and start there.

(2) Watch YouTube videos by Andreas Antonopolous. Probably the most (only) ethical guy in the space, spends his time educating and speaking. He will give you quite a few things to think about.

(3) Don’t put in any more money than you can lose.

For the record, I’m very bullish on bitcoin, more on the blockchain technology (now referred to as distributed ledger technology) and it will change many, many things. There are guesses as to where the technological disruptions will occur but make no mistake, they will occur.

I equate this as to when gold was found at Sutter’s Mill on January 24 1848. We are about a day later.


51 posted on 12/13/2017 3:47:49 PM PST by byrony
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eagles Field

It’s too late. Should have got in when it was in the hundreds and not thousands. My question is can you sell them anywhere or can you only sell them to another individual?


52 posted on 12/13/2017 3:51:30 PM PST by antidemoncrat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eagles Field

put your money in tulips.


53 posted on 12/13/2017 3:53:47 PM PST by Fhios (Down with your fascism, up with our fascism.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BitWielder1

“If you don’t understand it, don’t do it.”

When my daughter gave me her old computer, I said, “I don’t understand it and will never use it.”

My kids gave me a GPS....I said, “I don’t think I’ll understand it or use it.” Same with an iPhone...

I didn’t understand how a 401K worked, but I put my money into it. I am doing VERY well.

What did I do wrong with all the above?


54 posted on 12/13/2017 3:54:34 PM PST by toldyou (Even if the voices aren't real, they have some pretty good ideas.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: Eagles Field

I thought about buying 1 coin when it was ~$4500 purely as speculation and assuming there was a good chance of losing everything. I couldn’t bring myself to pull the trigger as I couldn’t find a broker/wallet I was comfortable with. Now the price is too high to fool with.


55 posted on 12/13/2017 3:56:14 PM PST by Brooklyn Attitude (The first step in ending the war on white people is to recognize it exists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: grania

>Bitcoin is a way to hide transactions from governments and to set up a barter system with an agreed-upon marker. I figure if powerful people who manipulate everything are using it for their purposes, it won’t disappear....until the gov wants its cut.

You really can’t hide your transactions fully. You just make it very, very difficult to trace which greatly reduces the governments desire to trace it. If it gets big enough that will change.


56 posted on 12/13/2017 3:58:53 PM PST by JohnyBoy (The GOP Senate is intentionally trying to lose the majority.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Eagles Field

It’s like investing in Currency. Would you like some Russian Rubles or Iraqi Dinars first? If not, don’t do BitCoin.


57 posted on 12/13/2017 4:00:25 PM PST by CptnObvious (uestion her now.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LouieFisk

Probably full of crap just trying too get folks here cranked up and asking questions like yours


58 posted on 12/13/2017 4:05:39 PM PST by CGASMIA68
[ Post Reply | Private Reply | To 5 | View Replies]

To: grania

‘Magic Pixie Dust’ just happens to be the name for my new cryptocurrency...


59 posted on 12/13/2017 4:05:40 PM PST by Pelham (Rope. Tree. Journalist.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: righttackle44
I daytraded mini Russell futures for a living for years. About 5 years ago I retired and pulled all my money. I’m not an investor and just don’t have the stomach for it after daytrading for over 13 years. I pulled a little money out and bought some bitcoin. Figured why not take a chance? Another trader friend that understood it did it all for me. I kind of forgot about it and never even looked at it til the recent mania. 😂
60 posted on 12/13/2017 4:06:01 PM PST by sheana
[ Post Reply | Private Reply | To 41 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-94 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson