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Thread: Cryptocurrency

  1. #1
    Senior X Factor's Avatar
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    Cryptocurrency

    Anyone else here investing in crypto? I just got in a little over a month ago. Seen a nice little return so far.

    Not sure how long this bull run will last, hopefully through the rest of this year, but digital assets are becoming more mainstream. Tesla is now accepting BTC as payment, and Elon Musk bought a shit ton of BTC when it was around 45K. Lots of institutions are snatching it up as well.

    Lots of good projects out there with actual use cases now.

  2. #2
    Hall of Famer GoMuskies's Avatar
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    I was looking to buy some when it was under a grand, but I really couldn't figure out the wallet situation and who I could trust providing personal information to. It wouldn't have mattered, as I was planning to use any that I bought to fund my online sportsbook account.

  3. #3
    Supporting Member xubrew's Avatar
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    Not investing in it, and probably won't because I have no sense for this type of stuff, but I am fascinated by it. I don't quite understand it, which is a big reason why I haven't invested in it. I watched a documentary and read some articles and still don't quite get it. I know that like anything else, it's worth whatever people agree that it's worth and are willing to pay for it, and the worth of it seems to be going up and up and up. But, I still don't quite understand exactly WHAT it is.
    "You can't fix stupid." Ron White

  4. #4
    Look up Bitcoin on Wikipedia.

    If you can understand ANY of that craziness please let me know. People are "mining" for Bitcoin on the Internet. Huh?

    I'm out.

  5. #5
    SLU GRAD, XAVIER SUPERFAN D-West & PO-Z's Avatar
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    Not crypto but along the lines of NFT's i recently discovered the website NBA Top Shots. People buy and sell video highlights of different players. Its like trading cards but video clips. Video clips that are free for anyone to view online. I dont get it but I got in to buy some cheap on the "drops" the website does and I have alredy made a decent profit. It is crazy
    "Iím willing to sacrifice everything for this team. Iím going to dive for every loose ball, close out harder on every shot, block out for every rebound. Iím going to play harder than Iíve ever played. And I need you all to follow me." -MB '17

  6. #6
    Senior X Factor's Avatar
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    Quote Originally Posted by D-West & PO-Z View Post
    Not crypto but along the lines of NFT's i recently discovered the website NBA Top Shots. People buy and sell video highlights of different players. Its like trading cards but video clips. Video clips that are free for anyone to view online. I dont get it but I got in to buy some cheap on the "drops" the website does and I have alredy made a decent profit. It is crazy
    That is definitely crytpo. "FLOW LABS (NBA Top Shot) is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: Cryptokitties, Dapper Wallet, NBA Top Shot."

    You can purchase the FLOW token, which is currently trading at $27.22. A year ago, it was trading at $1.50.

    NFT's (non-fungible tokens) are wildly popular right now, and I assume will only get bigger as they get more exposure. Not really my thing, but I see why it could be huge with kids today.

    onflow.org

    A recent NFT sold for 69 million dollars! It's basically digital artwork, but on a blockchain - a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. So it's one of a kind.

    https://www.theverge.com/2021/3/11/2...ays-69-million
    Last edited by X Factor; 03-24-2021 at 12:20 PM.

  7. #7
    Quote Originally Posted by X Factor View Post
    That is definitely crytpo. "FLOW LABS (NBA Top Shot) is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: Cryptokitties, Dapper Wallet, NBA Top Shot."

    You can purchase the FLOW token, which is currently trading at $27.22. A year ago, it was trading at $1.50.

    NFT's (non-fungible tokens) are wildly popular right now, and I assume will only get bigger as they get more exposure. Not really my thing, but I see why it could be huge with kids today.

    onflow.org

    A recent NFT sold for 69 million dollars! It's basically digital artwork, but on a blockchain - a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. So it's one of a kind.

    https://www.theverge.com/2021/3/11/2...ays-69-million
    Investment Thesis:
    - Use real money to buy fake money
    - Get in early
    - Convince everyone that it a great investment
    - Fake money goes up in value
    - Get out early and use the fake money to buy back more real money than you spent to buy the fake money
    - Don't be the sucker holding the bag

    p.s use LOTS of acronyms and fancy words. People wont understand a word of it, but they will fake it.

    Further reading: The Emperor's New Clothes

  8. #8
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    I am curious on the future uses of blockchain technology to verify transactions. I watched a CLE a few months back where they discussed how County Recorders offices are looking to replace their current deed filing systems with a blockchain to streamline title searches. It seems like if they can get wide adaptation of it, that it would be a huge improvement over the current system.

    Here is a blog post discussing Ohio's efforts to start using it: https://www.frantzward.com/news-blog...e-records-come
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  9. #9
    Supporting Member GIMMFD's Avatar
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    I have some Bitcoin, Ethereum, Dash, Litecoin, and BAT. I think cryptocurrency is really interesting as a concept, though I don't see how a global scale use of it could be accomplished. I got into Bitcoin when this past summer around $8k-9k, sold off a lot of it when it hit $55k but still have some just in case as well. It's a really volatile investment, so I only throw in what I can absolutely afford to throw in.

  10. #10
    All-Conference xudash's Avatar
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    Quote Originally Posted by MHettel View Post
    Investment Thesis:
    - Use real money to buy fake money
    - Get in early
    - Convince everyone that it a great investment
    - Fake money goes up in value
    - Get out early and use the fake money to buy back more real money than you spent to buy the fake money
    - Don't be the sucker holding the bag

    p.s use LOTS of acronyms and fancy words. People wont understand a word of it, but they will fake it.

    Further reading: The Emperor's New Clothes
    Anyone has to be very careful with this stuff, no doubt about it. And I like how you laid out what might be the Ponzi Scheme of the 21st Century.

    The flip side is that BLOCKCHAIN technology is here to stay, and it will most likely revolutionize how payment systems and money flows operate moving forward.

    Overall, close your eyes and imagine where we stood 100 years ago (while attempting to forget what happened about 8 years from then). Think about where "technology" stood back then. Gas powered engines. Radio. No television yet. No computers. Look what happened over the next 50 years from then, and then look at what happened since the late 70's to now.

    It's the pace of change, and computing and other technologies to watch from here forward. AI will revolutionize life. Nano-technology will do the same. EV? Sure, and at a faster pace than what many may realize. But what about TaaS?

    My bottomline: it is in everyone's best interests to attempt to get their arms around technological developments, because now, and moving forward more than ever, technology will change and disrupt industries across the board, mostly for the better, but with pain in certain circles.

    Some of us are old enough to remember watching The Jetson's on TV on Saturday mornings. Watch episodes of that cartoon now. Virtually everything you watch in those cartoons have become reality, including the flying cars.
    X A V I E R

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