Author Topic: Good cryptocurrency to invest in?  (Read 592 times)

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Offline Cryptinox

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Good cryptocurrency to invest in?
« on: April 16, 2021, 11:23:58 AM »
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  • I make $83 a week usually plus tips and I don't have to pay for a lot of basic expenses like insurance, mortgages, etc. I would like to know what cryptocurrency is good to invest in right now. My driving teacher was talking about how Doge Coin was 9 1/2 cents but it went all the way up to 45 cents earlier today.

    Offline Ladislaus

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    Re: Good cryptocurrency to invest in?
    « Reply #1 on: April 16, 2021, 11:33:53 AM »
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  • That happens with IPOs, but only insiders can get into IPOs.

    One could have cashed in on BitCoin, but then you could have lost a lot too, depending on when you invested.

    Basically, it's gambling, a roll of the dice ... and not worth it.


    Offline Yeti

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    Re: Good cryptocurrency to invest in?
    « Reply #2 on: April 16, 2021, 03:45:32 PM »
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  • No cryptocurrency is good to invest in.
    .
    If you have money to invest, buy stock in American corporations, ideally through index funds.

    Offline Matthew

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    Re: Good cryptocurrency to invest in?
    « Reply #3 on: April 16, 2021, 03:55:34 PM »
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  • Seriously, someone on Cathinfo has that kind of *wealth*?

    If you really have thousands of extra dollars sitting there (over and above a typical savings or "six month fund"), why not buy some land? Equipment? supplies? Tools? 

    You can't eat gold, or bitcoin. Once you're PREPPED to the nines, THEN you invest whatever you have left in physical gold, physical silver, maybe a bit of crypto. But most people don't make it that far. Buying and fitting out some acreage costs a lot of money; more than most Trads have.
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    Offline forlorn

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    Re: Good cryptocurrency to invest in?
    « Reply #4 on: April 16, 2021, 04:10:07 PM »
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  • Seriously, someone on Cathinfo has that kind of *wealth*?

    If you really have thousands of extra dollars sitting there (over and above a typical savings or "six month fund"), why not buy some land? Equipment? supplies? Tools?

    You can't eat gold, or bitcoin. Once you're PREPPED to the nines, THEN you invest whatever you have left in physical gold, physical silver, maybe a bit of crypto. But most people don't make it that far. Buying and fitting out some acreage costs a lot of money; more than most Trads have.
    He has $83 spare a week. He can't afford land or any serious investments; he's looking for high-risk high-reward investments that'll turn small savings into serious money.

    Myself, I made a fair bit of money off of crypto a few years ago, but it was gambling. To underline just how volatile it was, in 2017 I chucked something like $30 into crypto and eventually through the crazy bull market later that year it was worth almost $1000. But then it crashed down to almost nothing. I forgot about it for a few years and then when I found my Ethereum lying around in 2020 it was worth $500(after a new bull market brought it back up). So it goes absolutely all over the place. And I got lucky for leaving my remaining investments in a "solid"(by crypto standards) currency. If I'd left it in almost anything else(99% of cryptos fail), I wouldn't have made that large profit, but instead my investment would've dwindled down to ZERO.

    Point of the story is not to brag about how I got lucky(and believe me, it was luck. I had no idea what I was doing), but to show how volatile and unpredictable it all is. Especially right now that it's many months into a bull market, and so it could crash any moment. And you would be left with nothing. It might even be immoral to invest in crypto because of that, because it's almost closer to gambling than regular investing. I don't know, but if you are to invest, you need to do your own research and be really confident in whatever project you invest in. And even then, only invest what you can afford to lose. Remember, it's a lot more likely you'll end up wasting all that money than that you'll get rich off it or something.


    Offline SeanJohnson

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    Re: Good cryptocurrency to invest in?
    « Reply #5 on: April 16, 2021, 05:49:10 PM »
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  • Lead and livestock.
    Romans 5:20 "But where sin increased, grace abounded all the more."

    -I retract any and all statements I have made that are incongruent with the True Faith, and apologize for ever having made them-

    Offline Prayerful

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    Re: Good cryptocurrency to invest in?
    « Reply #6 on: April 16, 2021, 05:51:30 PM »
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  • I saw a good tip on Youtube (Spiffing Brit). Basically follow @elonmusk on ƚwιƚƚeɾ, turn on notifications, and if he boosts dogecoin or another lesser crypto currency (dogecoin is very much a lesser one, it jumped a bit when Elon boosted and then fell back), buy a bit, and when it goes up a bit, just sell, don't wait, just bank a bit of growth. Don't get greedy. Bitcoin is quite acceptable as risky investments go, but transactions on it are registered publicly, it is very much not a crypto currency, except that it good enough as a way of giving money to people treated as lepers by the usual payment systems.

    Offline Ladislaus

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    Re: Good cryptocurrency to invest in?
    « Reply #7 on: April 16, 2021, 11:04:33 PM »
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  • Lead and livestock.

    Lead prices have gone through the roof.  If you have a large stock you could be sitting on a fortune.


    Offline Cryptinox

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    Re: Good cryptocurrency to invest in?
    « Reply #8 on: April 17, 2021, 12:28:23 AM »
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  • He has $83 spare a week. He can't afford land or any serious investments; he's looking for high-risk high-reward investments that'll turn small savings into serious money.

    Myself, I made a fair bit of money off of crypto a few years ago, but it was gambling. To underline just how volatile it was, in 2017 I chucked something like $30 into crypto and eventually through the crazy bull market later that year it was worth almost $1000. But then it crashed down to almost nothing. I forgot about it for a few years and then when I found my Ethereum lying around in 2020 it was worth $500(after a new bull market brought it back up). So it goes absolutely all over the place. And I got lucky for leaving my remaining investments in a "solid"(by crypto standards) currency. If I'd left it in almost anything else(99% of cryptos fail), I wouldn't have made that large profit, but instead my investment would've dwindled down to ZERO.

    Point of the story is not to brag about how I got lucky(and believe me, it was luck. I had no idea what I was doing), but to show how volatile and unpredictable it all is. Especially right now that it's many months into a bull market, and so it could crash any moment. And you would be left with nothing. It might even be immoral to invest in crypto because of that, because it's almost closer to gambling than regular investing. I don't know, but if you are to invest, you need to do your own research and be really confident in whatever project you invest in. And even then, only invest what you can afford to lose. Remember, it's a lot more likely you'll end up wasting all that money than that you'll get rich off it or something.
    I usually get $83 for a paycheck in a week however I've been doing driver's ed and won't be working on Wednesdays. I already have $10 a week going into a Roth IRA account. However I still get a good amount of tips. usually $20 but this week I got $38.

    Offline Cryptinox

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    Re: Good cryptocurrency to invest in?
    « Reply #9 on: April 17, 2021, 12:37:59 AM »
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  • No cryptocurrency is good to invest in.
    .
    If you have money to invest, buy stock in American corporations, ideally through index funds.
    What companies are not evil and globalist though?

    Offline Cera

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    Re: Good cryptocurrency to invest in?
    « Reply #10 on: April 17, 2021, 11:50:09 AM »
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  • Silver is an affordable, portable, hard asset.
    Pray for the consecration of Russia to the Immaculate Heart of Mary


    Offline Yeti

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    Re: Good cryptocurrency to invest in?
    « Reply #11 on: April 17, 2021, 01:19:24 PM »
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  • What companies are not evil and ɠƖobaƖıst though?
    A lot of them are run by evil people, but that doesn't mean it's a sin to buy stock or mutual funds.

    Offline Cera

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    Re: Good cryptocurrency to invest in?
    « Reply #12 on: April 17, 2021, 04:41:42 PM »
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  • What companies are not evil and ɠƖobaƖıst though?
    The Mom and Pop place down the street.
    Pray for the consecration of Russia to the Immaculate Heart of Mary


     

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