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Discussion Starter · #1 ·
Do you invest in crypto currencies? IMO no one should go all in. But 5k out of a modest portfolio is not much exposure and has the possibility of very high returns.

I know more than most want to hear about it. And probably advocate more than my friends wish I would. But my most convincing argument so far is the 5 horses. If you don't know what currency or project to invest in and you are just meh about the entire thing, I get it. But 1k on each of the 5 top projects will most likely have at least one pay out 100-1 in the next 5-10 years.

I understand 5k is a lot for some, and not much for others.

I have made some nice returns in the last3 years.

Additionally there is much more to crypto currencies than the concept of money. We are in generation 3 of the technology now and it has evolved beyond the concept of a simple currency to distributed, decentralized, un-censorable computing platforms enabling smart contracts, applications and much more. It IS the future and happening now.
 

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I have a couple hundred in there. Mostly Dogecoin (jumped on the bandwagon) and a newer one called Safemoon. Safemoon has five zeroes after the decimal currently so you can buy a lot of quantity for very little, so if the price goes up even a little bit, you could have tremendous returns. I've put as much in as I'm intending to, for now I'm holding everything for at least a year or until I can retire (seriously) and still live quite well. If I see a good reason to jump back in, I'm still not putting more than $100 per month total.
 

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No.

My crystal ball does not work so well.

Index funds will get me to my target, so I do not see the point of purchasing something so volatile. It's easy to look back in time and say, if I had only purchase Bitcoin at this low point in the past and held on until this certain high point . . . but we don't get time machines with which to invest, do we?
 
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Discussion Starter · #4 ·
No.

My crystal ball does not work so well.

Index funds will get me to my target, so I do not see the point of purchasing something so volatile. It's easy to look back in time and say, if I had only purchase Bitcoin at this low point in the past and held on until this certain high point . . . but we don't get time machines with which to invest, do we?
No one is suggesting anyone change their current strategy. Only suggesting that a very moderate side bet may have a very significant return. Betting on the future is a unknown for sure. But the future is guaranteed to bring change and blockchain technology will be a part of the future. A moderate side bet on the top 5 blockchain technologies is likely to payout 100-1, perhaps 1000-1.
 

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A moderate side bet on the top 5 blockchain technologies is likely to payout 100-1, perhaps 1000-1.
Like I said, my crystal ball is not so clear. Likely means a high probability of being true. In that case, there is no reason to be so limited as to make it a "side bet."
 

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Discussion Starter · #9 ·

Although bitcoin is blockchain, blockchain is no longer just bitcoin. Bitcoin was the first generation of blockchain technology. We are now in the third generation of blockchain and it is MUCH more than the simple concept of a digital currency.

Bitcoin will never be more than a currency. The evolution of blockchain has already started paradigm shifts.

 

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Discussion Starter · #10 ·
Only invest in what you understand. I don’t understand crypto currencies.
You don't know what you don't know right?

I am sure pretty much everyone reading this thread is probably only familiar with bitcoin and has their mind biased on that basis.

I never mentioned bitcoin. Except under the general reference to cyrpto technology. This is MUCH more than bitcoin or a digital currency.

Blockchain is NOT bitcoin. I wouldn't bet much on bitcoin either.

Blockchain technology has the potential to level playing grounds, restructure financial systems and markets and liberate marginalized people, systems and societies.




Betting on the 5 top blockchain projects is betting on a better future for humanity.
 

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So my hesitance about investing in crypto comes down to the gamble.
It isn’t just the gamble of money, it is the gamble of time to do the research as well. 10 minutes of reading to prune a scam or hoax one time is fine. Micromanaging investments and keeping up with an emerging market is a part time job. A part time job is fine if it’s got an hourly rate attached that is comparable to say my day job. The potential for an hourly rate to be negative throws a wet blanket on my interest.

I don’t think it is 5 horses with one paying 100:1 either. It is 5 horses, right now, today but not on the day of the payout. The payout is an indefinite time in the future and the field will contain an indefinite number of horses. The field may not even contain any of the original horses on the day of the payout. The initial investment date for 100:1 payout may even occur prior to me being made aware of the entry of the eventual winning horse.

If we want to spitball big gains, from the day I closed on my mortgage to today, Apple’s stock value has grown by a factor of 372.5. Had I put my down payment into Apple stock instead of my house, I’d no doubt be a retired fool. In contrast, there are many names that would have been good bets back then too…and they no longer exist. Those were not $1k->$372 (sorry for your loss), they were $1k->$0 (and no we will not print you a stock certificate for nostalgic purposes).

I can take the time I would “invest” and work on a part time job. Drive for the gig economy. Tinker in a garage, make a product, and actively market it. Buy a fix-r-upper house every 3 years and spend 2 hours a night and one weekend a month on renovation projects. Open an Etsy store and resell up-cycled local items. Go back to school for that MBA and climb the corporate ladder. I mention these because I have beers with folks that have done all of the above and have gains to show for it. I don’t currently have anyone in my circles that has paid their bills and funded retirement through day trading, gambling (at the track, card table, sports betting, etc.), or crypto currency speculation. Don’t get me wrong, it’s not that I lack friends that have tried, it’s that they all eventually concluded sinking time into a gamble very rarely brings returns the rose-colored glasses like to put on it.
 
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