Cryptocurrency

[MHettel]

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.

I'm kinda more of a Flintstones guy. You all can take your spacerockets to Mars. I'm still annoyed that I have this damn phone that is surgically attached to me.

[chico]

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

When Rob Gronkowski can make almost 2 million selling digital football cards of himself I don't know whether to think it's the tip of the iceberg or there's a big bubble that's about to burst. Even regular old Topps baseball cards are going through the roof.

[xu82]

I don’t understand it....... AT ALL, so I won’t invest in it (at least not now). Having said that, my wife’s employer (a very large bank) had to jump in and get their arms around it. When you are handling estates worth hundred$ of million$, and there are large holdings in cryptocurrency, you’d better figure it out. I wonder if in some ways this will legitimize it?

Not that long ago I thought it was for kooks, but now the biggest banks in the country are working diligently on how to build platforms to manage cryptocurrency. You almost have to get on board or you are left behind.


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[xudash]

I don’t understand it....... AT ALL, so I won’t invest in it (at least not now). Having said that, my wife’s employer (a very large bank) had to jump in and get their arms around it. When you are handling estates worth hundred$ of million$, and there are large holdings in cryptocurrency, you’d better figure it out. I wonder if in some ways this will legitimize it?

Not that long ago I thought it was for kooks, but now the biggest banks in the country are working diligently on how to build platforms to manage cryptocurrency. You almost have to get on board or you are left behind.


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Yes. Again, the base technology has promise.

The specific things that get monetized will ultimately determine the winners and losers. Would I invest in digital Gronk stuff? Well, my God.

[paulxu]

Not sure about all this stuff.
But...Trevor Lawrence is going to take his signing bonus in cryptocurrency.

Good move?

[STL_XUfan]

Not sure about all this stuff.
But...Trevor Lawrence is going to take his signing bonus in cryptocurrency.

Good move?

Depends, is it Dogecoin?

Seems like taking your entire signing bonus in any one investment is silly (I assume he is doing this as an investment strategy and not just to take it immediately out).

[murray87]

Here's an interesting article about Lawrence and some of the reasons behind the rise in cryptocurrencies:

https://stream.org/trevor-lawrence-i...ies-heres-why/

Not sure how a little player like me can work crypto into my portfolio without getting burned.

[Blue Blooded-05]

Here's an interesting article about Lawrence and some of the reasons behind the rise in cryptocurrencies:

https://stream.org/trevor-lawrence-i...ies-heres-why/

Not sure how a little player like me can work crypto into my portfolio without getting burned.

Anyone playing crypto must understand the key differences between investing and gambling.

The article mentions one of the key differences: INTRINSIC VALUE. A share of stock represents ownership in an entity that generates revenue. A simplistic way of looking at it is if you own 1 share of AAPL stock, you own a rivet in the assembly line that creates the iPhone. Without that rivet, the assembly line can’t function, iPhones can’t be manufactured and billions in revenues are lost. As the article points out, crypto has no intrinsic value. It’s worth exactly what we say it’s worth. Buying something with intrinsic value and believing that intrinsic value will increase is investing. Buying something without intrinsic value and hoping it will increase is gambling.

This second key difference between investing and gambling: STATED OBJECTIVE. The stated objective of a corporation is to make money. Thus, when you buy a share of stock, you’re buying into its stated objective. This is like buying a train ticket with the objective of getting to the top of the mountain. Maybe it breaks down along the way, but when you bought the ticket the track was already laid and the objective was clear. The stated objective of a currency is be money (not to make money). Buying crypto is like buying a sailboat with the objective of getting to the other side of the lake. The wind might blow you in the direction you want to go... but then again it might blow you in the opposite direction. Buying into something’s stated objective is investing. Buying something for reasons other than its stated objective is gambling.

This doesn’t mean you can’t make money gambling or lose money investing. It just means you should know the difference and act accordingly. Before buying it, start saying “I’d like to gamble in crypto” instead of “I’d like to invest in crypto” and see if that changes your mindset.

In the end, treat crypto like a night at the casino with friends. You’d never put your chips down at the roulette wheel and call it “investing.” Doesn’t mean you can’t make a lot of money doing it. Just don’t gamble with more than you can afford to lose.

[Blue Blooded-05]

Not sure why that posted twice, so disregard this message

[paulxu]

Is buying a ticket on the Streetcar, investing or gambling?