Stealthlobo Posted June 19, 2022 Share Posted June 19, 2022 My gf bought her first Bitcoin today. $200 worth. She's very excited lol 1 1 Quote Link to comment Share on other sites More sharing options...
Old_SD_Dude Posted June 20, 2022 Share Posted June 20, 2022 I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. Quote Thay Haif Said: Quhat Say Thay? Lat Thame Say Link to comment Share on other sites More sharing options...
Someone Else Posted June 20, 2022 Share Posted June 20, 2022 42 minutes ago, Old_SD_Dude said: I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. I was in the same situation as you are. I just did a bunch of research, talked to some knowledgable folks ... watch several videos (white board crypto), audited an MIT class taught by Gary Gensler (before he was head of the SEC) and I'm not an expert now but I understand it well enough. Blockchain has flaws but has a place and will work it's way into the financial world (already has) but cryptocurrency is just another form of gambling/investing as are NFTs .... like pretty much anything else it's only worth something if enough people think it is. The MIT course was pretty good and I learned a great deal. And you don't have to be brilliant to understand it. Google it. He taught it in 2017. (btw, NFTs are a scam ) 1 Quote Link to comment Share on other sites More sharing options...
renoskier Posted June 20, 2022 Share Posted June 20, 2022 On 6/19/2022 at 6:01 PM, Old_SD_Dude said: I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. I still don't understand how it "mined" Quote Link to comment Share on other sites More sharing options...
misplacedcowboy Posted June 20, 2022 Share Posted June 20, 2022 On 6/16/2022 at 11:06 AM, bornontheblue said: Anybody get any Ibonds pegged to inflation Max 10,000 Interest rate is currently 9.62% Must hold for 5 years to avoid penalty Yes. You can actually pull anytime after 1 year, but just lose a couple months on interest. Planning to scale up and eventually have my full emergency fund (6+ months of expenses) in readily available i-bonds. Anything's better than the checking account that isn't raising rates despite everything else getting more expensive. And I believe it's 10k per SS#, so you can even have them in your kids' names. Was thinking about it, but figure their Coverdell will bounce back and then some by the time they're 18 1 Quote Link to comment Share on other sites More sharing options...
UNLV2001 Posted June 22, 2022 Share Posted June 22, 2022 Quote Link to comment Share on other sites More sharing options...
NVGiant Posted June 22, 2022 Share Posted June 22, 2022 On 6/16/2022 at 10:06 AM, bornontheblue said: Anybody get any Ibonds pegged to inflation Max 10,000 Interest rate is currently 9.62% Must hold for 5 years to avoid penalty Yeah. Started buying in December. Bought more in January and bought another round in April. Wife and I maxed out until next year . Penalty is just three months interest if you withdraw early. Quote Link to comment Share on other sites More sharing options...
Maji Posted June 24, 2022 Share Posted June 24, 2022 nice little bear market rally here Quote Link to comment Share on other sites More sharing options...
UNLV2001 Posted June 24, 2022 Share Posted June 24, 2022 Quote Link to comment Share on other sites More sharing options...
tspoke Posted June 24, 2022 Share Posted June 24, 2022 On 6/19/2022 at 7:01 PM, Old_SD_Dude said: I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. On 6/19/2022 at 7:43 PM, Someone Else said: (btw, NFTs are a scam ) Quote Link to comment Share on other sites More sharing options...
NVGiant Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 1:29 PM, Maji said: nice little bear market rally here well, of course. I just began the process of rolling over a 401(k) into my IRA so of course there is a rally while I’m in limbo! 1 Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 2:29 PM, Maji said: nice little bear market rally here I didn’t sell any slices today (or week). I’m feeling good about two small bios going into binary events in H2 ‘22. Cash % ticked up a bit before this week as the denominator went down (reversed this week), and I think it’s too late to add more unless this rally extends another week or more. I’ll keep my passive income and retirement income in cash (excepting funds w/auto repurchasing). Many scenarios are still in play. Quote Link to comment Share on other sites More sharing options...
UNLV2001 Posted June 24, 2022 Share Posted June 24, 2022 Quote Link to comment Share on other sites More sharing options...
Pasco Bronco Posted June 24, 2022 Share Posted June 24, 2022 On 6/19/2022 at 2:16 PM, Stealthlobo said: My gf bought her first Bitcoin today. $200 worth. She's very excited lol It's very addicting. She's probably checking her wallet or exchange every ten seconds lol Quote Link to comment Share on other sites More sharing options...
Stealthlobo Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 4:59 PM, Pasco Bronco said: It's very addicting. She's probably checking her wallet or exchange every ten seconds lol Heh, you know it! She's at $220 now so she super stoked she's made $20 in that week. She now wants to buy more though... 1 Quote Link to comment Share on other sites More sharing options...
Pasco Bronco Posted June 24, 2022 Share Posted June 24, 2022 On 6/19/2022 at 6:01 PM, Old_SD_Dude said: I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. As an investment, crypto is very similar to precious metals. There is a finite amount of every crypto. There's also a fluctuating fiat value, just like metals. Right now, bitcoin is to crypto what Gold is to metals, and ethereum would be silver. Crypto has also revolutionized banking. Now anyone with a phone and acces to a bitcoin atm can be their own bank and wire transfer service. Here in San Francisco, the atms have lines around the corner every Friday. Quote Link to comment Share on other sites More sharing options...
Pasco Bronco Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 4:08 PM, Stealthlobo said: Heh, you know it! She's at $220 now so she super stoked she's made $20 in that week. She now wants to buy more though... Yeah, ten percent per week is a really big deal when you're used to traditional investments. I only buy on Fridays or weekends if there's been really bad economics news. I like to wait until Monday when all the payday money isn't affecting the price. Quote Link to comment Share on other sites More sharing options...
Billings Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 1:15 PM, Pasco Bronco said: As an investment, crypto is very similar to precious metals. There is a finite amount of every crypto. There's also a fluctuating fiat value, just like metals. Right now, bitcoin is to crypto what Gold is to metals, and ethereum would be silver. Crypto has also revolutionized banking. Now anyone with a phone and acces to a bitcoin atm can be their own bank and wire transfer service. Here in San Francisco, the atms have lines around the corner every Friday. not the same. Can't put crypto in my safe deposit box...;) Quote Link to comment Share on other sites More sharing options...
Stealthlobo Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 5:25 PM, Pasco Bronco said: Yeah, ten percent per week is a really big deal when you're used to traditional investments. I only buy on Fridays or weekends if there's been really bad economics news. I like to wait until Monday when all the payday money isn't affecting the price. Well I bought $10k last fall, worth like $2k now. So she's also stoked she isn't losing money like I did lol. Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted June 24, 2022 Share Posted June 24, 2022 On 6/24/2022 at 5:15 PM, Pasco Bronco said: As an investment, crypto is very similar to precious metals. There is a finite amount of every crypto. Not quite. Quote Link to comment Share on other sites More sharing options...