To sum up when Warren Buffet has said many times, "Crypto is gambling".
Bitcoin/Crypto Currency IRA
- Thread starter Escape08
- Start date
You're not dealing with actual crypto when dealing with ETFs, it's more like a stock.
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There is strategy that says to do 3% bitcoin becuase of the upside potential. If it went to zero, not much is lost. Its easy to do with something like FBTC which is Fidelitys ETF Bitcoin Trust.
I do not participate in this strategy.
I do not participate in this strategy.
I thought he said it's garbage. Could be wrong.
There are “3%” guidelines out there for all sorts of risky investments with high up sides.
Well, let’s put it this way.
Bitcoin is speculative no different than many stocks such as Tesla or speculating, commodities, and minerals
In the last five years Bitcoin is up roughly 750%
In the last five years, Tesla is up roughly 150%
When speculating always keep it to a small portion of your an investment strategy unless you’re a crazy person who wants to become rich one day or dirt poor
Possibly even something in between
Bitcoin is speculative no different than many stocks such as Tesla or speculating, commodities, and minerals
In the last five years Bitcoin is up roughly 750%
In the last five years, Tesla is up roughly 150%
When speculating always keep it to a small portion of your an investment strategy unless you’re a crazy person who wants to become rich one day or dirt poor
Possibly even something in between
Ok. If its Bitcoin, you can put in an order to buy. What actually happens when you put in an order to sell? In the stock market, their software matches up a buy order with a sell order ( or sell orders) and cash is collected from the buyers account and put into the sellers account. The next day, the seller can transfer US dollars to his chequing account and write a cashiers cheque to purchase a Ferrari.
How about with Bit Coin?
How about with Bit Coin?
I did check on You Tube from two years ago. Warren is aging and not as eloquent as he used to be but, yes, he said he is amazed by how the world has embraced gambling. That’s all it is according to him. However, I am interested in the mechanics of it and noticed all sorts of “ bitcoins” have sprung up including some owned by government officials. How do you start a “ Bitcoin” company? I’m going to call mine “ Tulips”.
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I once played a roulette table, placing bets on red or black. I bought $100,000 of chips and put them on red. We spun it and came up red. Just a little mad money.we're up 4xon the bitcoin we bought in our Coinbase acct in 2020 and 2021 with a little mad money.
But I digress. I’m still interested in how this all works.
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If you get interested enough to buy crypto, make sure you hold your own private key (words). If you hold your own private key, make sure you understand that if it gets lost, you will never get your crypto back.
I'll add to the above, don't store crypto on any exchanges, buy a cold wallet like Trezor or Ledger or another reputable one to secure your coins. Also, research which coins you wanna keep as not all wallets can keep all coins.
I lost a sizeable chunk when Quadriga CX drama unfolded.
I lost a sizeable chunk when Quadriga CX drama unfolded.
Exactly and I lost some $ when Voyager went belly up. Never again. Ledger is very good.
itrustcapital is definitely the way to go. Lots of really smart dumb people here so don't let them discourage you. We are undergoing the digital economy transformation and blockchain is the future.
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Crypto is a great way to make easy money if you’re disciplined.
We’re in a down-cycle that will likely pick up around the end of 2026. If you’re not imminently retiring, my move is dollar cost averaging as heavily as is comfortable right now.
We’re in a down-cycle that will likely pick up around the end of 2026. If you’re not imminently retiring, my move is dollar cost averaging as heavily as is comfortable right now.
I’ve probably said enough. Thanks for the input.
Snag.
Snag.
Not sure anyone totally answered, check these out
https://crypto.com/us/crypto/learn/how-to-buy-bitcoin-btc
https://www.forbes.com/advisor/investing/cryptocurrency/buying-bitcoin/
https://www.bitcoin.com/get-started/how-to-buy-bitcoin/
https://www.investopedia.com/articles/investing/082914/basics-buying-and-investing-bitcoin.asp
As stated in post #12 here "Coinbase"
easy peasy
I have a Ledger device I purchased in 2020 but have never opened the box it came in.
Maybe someday?
easy peasy
I have a Ledger device I purchased in 2020 but have never opened the box it came in.
Maybe someday?
Thank you. I’ll go through them. Without having read them yet, “ buying” is in all the titles. One thing I noticed in the past years is that when “ selling” was mentioned, there was always a lot of hand waving going on. I’ll check it out.
GON
$175 Site Donor 2026
Well gambling is many times worse than garbage.
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