Who here is NOT into cryptocurrency?

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[ARCHIVED THREAD] - Who here is NOT into cryptocurrency? (Page 1 of 6)

Posted: 2/24/2021 9:16:48 AM EDT

I got to wondering how many people don’t own crypto and why. Is it a matter of distrust, or are you simply disinterested/indifferent to it? Do you feel it’s a scheme? Worried that it will vanish, or be outlawed? Maybe you were like me and saw the various crypto threads over the years here and just didn’t follow along. Not making a judgment on anyone’s reasoning.,,just simply curious.

Crypto has caught the attention of the masses and even more recently big institutional firms. What keeps you away?

Posted: 2/24/2021 9:18:14 AM EDT

[#1]

Severe lack of intelligence and knowledge on my part

Posted: 2/24/2021 9:19:21 AM EDT

[#2]

Maybe I should, but I don't give a fuck about that shit.

Posted: 2/24/2021 9:21:40 AM EDT

[#3]

It requires more faith than the US dollar, which I have no faith in anymore.

Posted: 2/24/2021 9:21:52 AM EDT

[#4]

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Quoted:
Severe lack of intelligence and knowledge on my part

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This. I've been interested in it for a while, but haven't spent the time to learn how to get into it.

Posted: 2/24/2021 9:23:05 AM EDT

[#5]

To me crypto currencies are another form of fiat money. It's only worth what people believe it to be. It's not backed by anything. It fluctuates greatly at times.
I'd rather purchase something tangible, but that's just me.

Posted: 2/24/2021 9:23:38 AM EDT

[#6]

Dont get into it if you cant watch 10% swings on a regular basis without panicking.

The past two days have been a lot of fun

Posted: 2/24/2021 9:23:59 AM EDT

[#7]

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Quoted:

This. I've been interested in it for a while, but haven't spent the time to learn how to get into it.

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It's as easy as creating a profile / registering on coinbase, binance, etc.

Posted: 2/24/2021 9:24:02 AM EDT

[#8]

Bitcoin to a million in a few years. Better get on the train while it's still cheap. I'm buying every time i have some cash accumulated in my bank.

Posted: 2/24/2021 9:25:07 AM EDT

[#9]

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Quoted:
It requires more faith than the US dollar, which I have no faith in anymore.

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Might be why this is catching on.

Posted: 2/24/2021 9:26:09 AM EDT

[#10]

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Quoted:
Maybe I should, but I don't give a fuck about that shit.

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This, and I’d rather put my money into tangible assets like guns, mags, and ammo, food, preps, beer, partying, etc.

Posted: 2/24/2021 9:26:36 AM EDT

[#11]

I guess I do technically? The wife and I both took $25 and invested it separately. We are going to see who has more after 3 months.

I bought doge stock and some stock in a marijuana company......

Posted: 2/24/2021 9:28:47 AM EDT

[#12]

None of the exchanges ever approve my account applications. I can buy it through the Cash app, buy you can't transfer Bitcoins the way it was meant to be done, it's not in your wallet. It's on their platform, and you have to convert to cash, then transfer that either to your bank or another Cash app user.

I tried buying Bitcoin back in 2012. Again, I go through the onerous process of submitting photos of my passport and drivers license and swear that I'm not a terrorist or money launderer. While I wait for them to approve my account for months, the exchange I was trying to buy it through collapsed, and hundreds of millions of dollars in Bitcoin vanished. That made me think Bitcoin was kind of sketch. It looks like most of the kinks have been worked out though.

Oh, and then I wanted to try buying a share of an Ethereum mining pool. I go through the process, and again I have problems setting things up and getting my account funded. I contact the mining pool, they tell me it's an issue with the payment service they require me to go through. I contact the payment service, never hear from them. I just always have trouble with crypto.

Posted: 2/24/2021 9:29:06 AM EDT

[#13]

Quote History

Quoted:
Dont get into it if you cant watch 10% swings on a regular basis without panicking.

The past two days have been a lot of fun

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They certainly were!

Posted: 2/24/2021 9:29:49 AM EDT

[#14]

Nope.
I barely trust the stock market and it has slightly more oversight.

Posted: 2/24/2021 9:30:48 AM EDT

[#15]

Nope.
I know basically nothing about it or how to even begin.

Posted: 2/24/2021 9:33:43 AM EDT

[#16]

That’s why I buy Gold from...

Posted: 2/24/2021 9:34:37 AM EDT

[#17]

Cryptocurrency seemed to me to have more utility as a speculative investment than a usable currency, and, until recently, I wasn’t interested in (i.e. couldn’t afford to) invest heavily, especially into highly speculative stuff. I recently inherited some retirement accounts, and, as someone who probably won’t retire himself for another 30ish years, now I’m much more interested in getting into this kind of stuff.

Posted: 2/24/2021 9:34:37 AM EDT

[#18]

Been tempted to try but have more questions than answers

Posted: 2/24/2021 9:35:41 AM EDT

[#19]

Quote History

Quoted:
Severe lack of intelligence and knowledge on my part

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Same. Too old, too dumb.

Posted: 2/24/2021 9:37:13 AM EDT

[#20]

You're asking why I don't gamble on something that only has value because people are gambling on other people gambling that people will consider it valuable? No thanks...

Posted: 2/24/2021 9:37:22 AM EDT

[#21]

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Quoted:
Nope.
I know basically nothing about it or how to even begin.

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This. I did some research and was unable to wrap my head around how to even get started. I think I just lack the necessary knowledge base.

If someone were to hold my hand and walk me through the process I probably would give it a shot.

Posted: 2/24/2021 9:37:39 AM EDT

[#22]

I'm not. I like tangible assets.

Copper, silver, gold, maybe a little platinum.

chango78 hit the nail on the head. How much for those electrons? lol

Posted: 2/24/2021 9:38:33 AM EDT

[#23]

Crypto will face regulation at some point. It is already used by criminal organizations and terrorist groups to move funds. There is no bank in the world that can move funds the way many of the exchanges do, keep little to no records and not run afoul of some government body that wants their slice.

The question will be how close to the jumping off point can we get out.

Posted: 2/24/2021 9:39:28 AM EDT

[#24]

I like the idea, but I have no idea where to start, what to buy, etc.

From what I can tell the only one worth a damn is bitcoin, but I can't afford that.

Posted: 2/24/2021 9:39:41 AM EDT

[#25]

Concern that its value will evaporate even faster than fiat money at some point.

It still has to be liquidated to be spent now, requiring an extra transaction step.

Posted: 2/24/2021 9:40:22 AM EDT

[#26]

None here..........Fake scam that can vanish just as fast as it came around..... Opinion - A 50+ year old cardboard box of 50 22lr rounds has more real value......

Posted: 2/24/2021 9:41:52 AM EDT

[#27]

I think it's brilliant and I admire the people who got in on it early on.

I did not. I could have bought it way, way under $1. But I did not.

Posted: 2/24/2021 9:41:53 AM EDT

[#28]

Quoted:
What keeps you away?

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Like any investment, it's hard to pull the trigger after such a wild run up.

Quoted:
I think it's brilliant and I admire the people who got in on it early on.

I did not. I could have bought it way, way under $1. But I did not.

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Quite some time ago "mining" was becoming all the rage in high performance computing. I virtually had the parts for a new build in my Newegg cart, but I never followed through.

Posted: 2/24/2021 9:42:39 AM EDT

[#29]

Posted: 2/24/2021 9:43:29 AM EDT

[#30]

This thread should be entertaining. I love hearing old and out of touch guys talk shit about what they don't understand.

Posted: 2/24/2021 9:44:20 AM EDT

[#31]

Quote History

Quoted:
Bitcoin to a million in a few years. Better get on the train while it's still cheap. I'm buying every time i have some cash accumulated in my bank.

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Name checks out

Posted: 2/24/2021 9:45:20 AM EDT

[#32]

poors. poors are not into crypto.

Posted: 2/24/2021 9:45:32 AM EDT

[#33]

Quote History

Quoted:
Nope.
I know basically nothing about it or how to even begin.

View Quote View All Quotes

View All Quotes

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Quoted:
Nope.
I know basically nothing about it or how to even begin.

That's where I'm at. I guess I'm too old to understand. I just keep stacking Gold and Silver instead.

Quoted:
This thread should be entertaining. I love hearing old and out of touch guys talk shit about what they don't understand.

Not talking shit. Some of us just don't "get it."

Posted: 2/24/2021 9:45:54 AM EDT

[#34]

Me... I've been needing a video card and can't buy one because of crypto...

Posted: 2/24/2021 9:46:07 AM EDT

[#35]

Quote History

Quoted:
You're asking why I don't gamble on something that only has value because people are gambling on other people gambling that people will consider it valuable? No thanks...

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so what do you use instead of US dollars?

Posted: 2/24/2021 9:46:15 AM EDT

[#36]

I'm 29 and I'm not involved and none of my friends are. We just don't understand it enough to want to get involved, and haven't taken the time to try and learn either.

For me personally there is a lot of distrust in dropping big money on a digital currency. It just seems too volatile and less trustworthy than our already questionable currencies.

I always assumed it could be hacked, seized or shut down by some government, have the value drop back to nothing, or be hard to convert to other currency or items where I live, .etc, but maybe that's just a lack of knowledge again on my end though.

Posted: 2/24/2021 9:46:47 AM EDT

[#37]

Quote History

Quoted:
This thread should be entertaining. I love hearing old and out of touch guys talk shit about what they don't understand.

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How do you feel about explaining to the old and out of touch guys what you understand?

Or was the intent of your post to tell us about how much more you know than the old and out of touch guys?

Posted: 2/24/2021 9:47:31 AM EDT

[#38]

Quote History

Quoted:
None here..........Fake scam that can vanish just as fast as it came around..... Opinion - A 50+ year old cardboard box of 50 22lr rounds has more real value......

View Quote

Well the $500 increase in my balance the past 24 hours is actually worth more than your 50 year old box of 22lr.

Posted: 2/24/2021 9:48:05 AM EDT

[#39]

I didn't and still don't understand the mining of it. With that being said, I have very little into it.

Posted: 2/24/2021 9:49:04 AM EDT

[#40]

I’m here to learn something

Posted: 2/24/2021 9:49:22 AM EDT

[#41]

Too volatile for me, I know there's money to be made but I don't want to look after it.

Posted: 2/24/2021 9:49:51 AM EDT

[#42]

Don't know much about it and already have currency that can go "poof" and be gone in an instant.

Posted: 2/24/2021 9:49:56 AM EDT

[#43]

Quote History

Quoted:

This thread should be entertaining. I love hearing old and out of touch guys talk shit about what they don't understand.

View Quote

I’m hoping for a calm discussion so those who aren’t in crypto can share why without having to be on defense.

Posted: 2/24/2021 9:50:37 AM EDT

[#44]

Quote History

Quoted:
This thread should be entertaining. I love hearing old and out of touch guys talk shit about what they don't understand.

View Quote

So break it down for the class...

Posted: 2/24/2021 9:51:29 AM EDT

[#45]

I'm too dumb to understand crypto.
But I'm smart enough to know that I'm too dumb to understand it.

I have considered jumping in several times over the last few years, and I could definitely have made some money by now if I had.
In the long run it looks like any crypto is vulnerable to whoever has the deepest pockets tho.
As far as I can tell, there is not much difference between crypto currencies and fiat currencies. If the only reason for it's increasing value is scarcity, I feel like at some point something cooler will come along and replace it.