Kevin Foreman

Cryptocurrency Experience

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Have anyone invested in any cryptocurrencies like BTC, LTC, Ripple, ETH, etc?

What's your experience? profit or loss? please share if you wish.

I invested on BTC and suffered a pretty much loss than I ever gained. I want to ask, should I withdraw my money back or I should wait for the BTC price to hike again?

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In November 2017 I invested about $180 across BTC, BCH, ETH, and LTC.  The only one that has made me any money is ETH, but I'm still in the hole overall about $60.  I don't know a lot about the others, but BTC is finite and my thinking is it will have to go up eventually.

I can stand to lose the entire $180 and it won't be the end of the world.  My personal plan is to just leave it there and see what happens.

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Just like any stock, if it is down, it is probably wise to just hold and wait for it to go back up.  BTC went up too high too fast during that little run recently, so it was inevitable it was going to fall.  It will probably take a while to climb back up after the correction.

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33 minutes ago, fisthardcheese said:

Just like any stock, if it is down, it is probably wise to just hold and wait for it to go back up. 

Actually, now is the time to buy. 

34 minutes ago, fisthardcheese said:

It will probably take a while to climb back up after the correction.

Look at housing prices 10 years ago. The market was for sure over inflated, but only for the times. We're back up there now, but it's been a steady climb the last 6 or 7 years add opposed to the 18 months from 10 years ago. 

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I had 10 BTC in 2013 at a cost basis of around $300. Sold when it popped over $100.  Never got back into because I don't understand how crypto's provide any extrinsic value.  I rather keep putting excess cash into stocks.  At least that is something I understand.  BTC is good for speculating though. 

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52 minutes ago, usctrojanalum said:

I don't understand how crypto's provide any extrinsic value.

Same goes for a dollar or gold, for that matter. There will be a certain level of s*** hitting the fan where none of it suddenly has any value and people that know how to make corn grow and dig a well will be the heroes again. 

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Agree on Gold.  It has zero utility.  Even doomsdayers who state well if the market goes to 0 and there is complete anarchy you will need gold as a hedge against total economic collapse.  I respond with "yeah, okay, when there is total economic collapse please tell me why I am going to give you my bread and corn for your pieces of Gold??

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