The lets make money off crypto-currencies thread

OK, let's make some real coin.

In another thread I asked about bitcoin (and other crypto-currencies).  Apparently they have no intrensic value, above and beyond being able to transfer money and pay for stuff electronically without anyone knowing who you are or being able to stop you.  That is real value, of course.

However, to the extent they all have this similar value, they should all be similarly priced.  But take a look at this website:

https://finance.yahoo.com/cryptocurrencies

 

Their prices are all over the place.  So, let's see if we can't make some money with this.  Wouldn't the thing to do be to short the ones that are high in price (overvalued) and go long on the ones that are low in price (undervalued)?  Thoughts?  There has got to be a way to make money on this stuff.

 

Thanks!

 

LOL at the crickets chirping.  C'mon, time to get rich!!!

You’re like the dude that comes to a party at 2am and still wants to go hard

So funny story... My best friend of 12 years called me last night and told me that he just started getting into it. Said he just started with small dollar amounts to start off (like $300), and said his "investment" has about doubled in a few weeks.

He explained that you have to give up all your personal info, link to a bank account... He explained how there's nothing backing it up because it's all digital currency.... The only thing I could think the whole time was, "No, not worth it. I'm good."

Call me boring, but it just sounds way too fishy to me. Way too confusing and unclear. It sounds like and unnecessarily confusing version of the stock market, except it's not monitored and not backed up by anything. I'll pass.

BrowBeaten - So funny story... My best friend of 12 years called me last night and told me that he just started getting into it. Said he just started with small dollar amounts to start off (like $300), and said his "investment" has about doubled in a few weeks.

He explained that you have to give up all your personal info, link to a bank account... He explained how there's nothing backing it up because it's all digital currency.... The only thing I could think the whole time was, "No, not worth it. I'm good."

Call me boring, but it just sounds way too fishy to me. Way too confusing and unclear. It sounds like and unnecessarily confusing version of the stock market, except it's not monitored and not backed up by anything. I'll pass.

I love lazy fucks like you. lol. What, you have to do stuff bro? Nah, Im good

NJstileNJ - 

You’re like the dude that comes to a party at 2am and still wants to go hard



LOL!  I missed the bitcoin run, but I don't want to miss the crash!  BUT, I want to play it smart.

BrckNoHitBk -
BrowBeaten - So funny story... My best friend of 12 years called me last night and told me that he just started getting into it. Said he just started with small dollar amounts to start off (like $300), and said his "investment" has about doubled in a few weeks.

He explained that you have to give up all your personal info, link to a bank account... He explained how there's nothing backing it up because it's all digital currency.... The only thing I could think the whole time was, "No, not worth it. I'm good."

Call me boring, but it just sounds way too fishy to me. Way too confusing and unclear. It sounds like and unnecessarily confusing version of the stock market, except it's not monitored and not backed up by anything. I'll pass.

I love lazy fucks like you. lol. What, you have to do stuff bro? Nah, Im good

Ha, I wouldn't reduce it down to that.

It's not that I'm against doing anything and everything.

But in this situation, the concept seems far too fishy and untrustworthy. It doesn't seem reliable and seems like something that can and will collapse on a moments notice. The juice doesn't seem worth squeeze. Sorry, thought I made that clear the first time around.

In

My homeless sister in law knows someone, who knows someone, who is making millions from bitcoin!

Where do I send my money!

In!

If someone wants to do all the work for me then...

Step 1: put your life savings into cryptos

step 2: HODL

Step 3: ???

Step 4: Profit!

BrowBeaten - So funny story... My best friend of 12 years called me last night and told me that he just started getting into it. Said he just started with small dollar amounts to start off (like $300), and said his "investment" has about doubled in a few weeks.

He explained that you have to give up all your personal info, link to a bank account... He explained how there's nothing backing it up because it's all digital currency.... The only thing I could think the whole time was, "No, not worth it. I'm good."

Call me boring, but it just sounds way too fishy to me. Way too confusing and unclear. It sounds like and unnecessarily confusing version of the stock market, except it's not monitored and not backed up by anything. I'll pass.
You sound like my grandma in the nineties about purchasing things online. "I don't know just seems fishy to me and I don't understand, there's no cash register?"

Buffer720 -
BrowBeaten - So funny story... My best friend of 12 years called me last night and told me that he just started getting into it. Said he just started with small dollar amounts to start off (like $300), and said his "investment" has about doubled in a few weeks.

He explained that you have to give up all your personal info, link to a bank account... He explained how there's nothing backing it up because it's all digital currency.... The only thing I could think the whole time was, "No, not worth it. I'm good."

Call me boring, but it just sounds way too fishy to me. Way too confusing and unclear. It sounds like and unnecessarily confusing version of the stock market, except it's not monitored and not backed up by anything. I'll pass.
You sound like my grandma in the nineties about purchasing things online. "I don't know just seems fishy to me and I don't understand, there's no cash register?"
Lol people get so shitty with their horrible analogies.

No. Investing in Bitcion is not the same as online shopping.

So my buddy was a miner when BTC was starting out and got me into it. I bought about 100 coins. Sold all but 20 about 2yrs ago. Big mistake.

 

I still own those and also a bunch of shares of GBTC since its inception.

 

My question is on Coinbase i go in to buy Litecoin and now it wont let me. I also notice Coinbase doesn't sell 90% of the other alt coins out there.

 

Where do you buy them?

Judge Mental - 


So my buddy was a miner when BTC was starting out and got me into it. I bought about 100 coins. Sold all but 20 about 2yrs ago. Big mistake.



 



I still own those and also a bunch of shares of GBTC since its inception.



 



My question is on Coinbase i go in to buy Litecoin and now it wont let me. I also notice Coinbase doesn't sell 90% of the other alt coins out there.



 



Where do you buy them?


Check out Binance. I know you can trade tons of coins there.

Do some research on it though, I am not knowledgeable about it and have never used it but just learned about it.

Judge Mental -


So my buddy was a miner when BTC was starting out and got me into it. I bought about 100 coins. Sold all but 20 about 2yrs ago. Big mistake.



 



I still own those and also a bunch of shares of GBTC since its inception.



 



My question is on Coinbase i go in to buy Litecoin and now it wont let me. I also notice Coinbase doesn't sell 90% of the other alt coins out there.



 



Where do you buy them?

from what i understand, coinbase has been going through some maintenance the last couple days, and LTC and Ethereum were not available for purchase. Could be that they are still working on it.

Thrill Hammer - 
Judge Mental -


So my buddy was a miner when BTC was starting out and got me into it. I bought about 100 coins. Sold all but 20 about 2yrs ago. Big mistake.



 



I still own those and also a bunch of shares of GBTC since its inception.



 



My question is on Coinbase i go in to buy Litecoin and now it wont let me. I also notice Coinbase doesn't sell 90% of the other alt coins out there.



 



Where do you buy them?

from what i understand, coinbase has been going through some maintenance the last couple days, and LTC and Ethereum were not available for purchase. Could be that they are still working on it.



You are correct. I just bought some Litecoin this morning.

 

Thanks to the ethereum thread, i purchased a goof amount in litecoin at 47 dollars a coin. Its currently at 101.73 and i see it going up as the news keeps covering all of the crypto-boom. About to cash out my original investment and see where the rest goes.. 

.