Two very true things about crypto currencies.

[Yavin4]

1. No one knows for sure about the future of crypto currencies. Any current opinion on it, either favorable or unfavorable, is speculation at this point. No one knows for certain.

2. However the future turns out for crypto currencies, some will be right and some will be wrong. The ones that are right will label themselves experts and probably will write books on how they were right. Go on book tours. And probably will get a movie made about how right they were. The movie will probably star Timothée Chalamet.

[WarGamer]

1. $1000 on DOGECOIN on Monday is worth $6000 today.

[LanternWaste]

9. And a $25 investment in Compaq in '87 was worth ten times that in '92 and $0 today

Everyone's a prophet.

Until they're not.

[WarGamer]

10. but that kind of profit in 5 days is... unusual.

[soothsayer]

11. I think trying to sell it after said profit is the hard part

But who knows, could be a thing

[liberal_mama]

16. My sister called me earlier, upset that she missed out on DOGECOIN

Her son bought it when it was below a penny. Now she wants to buy a $1000 in DOGECOIN at the higher price.

[qazplm135]

2. I invested about 500 bucks in January

It's now around 850.

I did it because it was a minimal amount and fun to watch.

Worst case I lose 500. Best case I sit on it for ten to fifteen years and it blows up to 10 or 20k.

I wouldn't invest much more than that, although if I'd dumped my entire savings into Bitcoin in January, I would have close to half a million right now, but it could as easily have wiped me out too.

[Yavin4]

3. Those who can tolerate the risk should do exactly what you did.

Stick a toe in the water.

Like walking into a casino and putting $100 on the red or the black.

[PoindexterOglethorpe]

5. You've got the right idea.

For something highly speculative, don't invest more than you can afford to lose.

[sop]

4. They're running pretty slick ads on cable tv showing huge gains.

[Tommy Carcetti]

6. I still have a very hard time believing that crypto-currencies are anything but the dumbest...

...and most pointless things ever created.

Sorry.

They have been around for a few years now and the idea of unregulated, non-physical "currencies" that are subject to fluctuations that make them nearly useless in terms of actual currencies and who we are told need to be "mined" electronically...it just seems inane beyond all belief to me.

Maybe I'm just an old fart.

[soothsayer]

12. Well, see NFTs. Those might win the dumbest thing thing

But at least you get a souvenir I guess.

[rampartc]

13. mined electronically at great cost in energy

[Rustyeye77]

7. How do they decide what it's worth?

It seems sooner or later the bottom will drop out.

What exactly are you investing in?

[Yavin4]

8. I'm not investing in any of it. Crypto currencies are outside of my risk tolerance at the moment.

But I'm not going to dismiss it entirely.

[TlalocW]

14. All I know is

January 1, 2022, I will have my first Bitcoin - won as a bet against an acquaintance who believes YouTube "prophets" that Trump will be taking back the presidency from Biden this year.

TlalocW

[JCMach1]

15. I have consistently made money on mining, investing and sometimes day trading Crypto...

Frankly, it's no riskier than trading other currencies.

Having said that, currency trading is risky and you have to know what you are doing.

If you don't think crypto technology is the future, you are clearly behind the times. Crypto is fueling online innovation/apps/etc.

If anything, paper currency is staring at obsolescence. Ask China...

[Yavin4]

17. As a great man once said, "You may be right. I may be crazy.

But it just may be a lunatic
You're looking for
Turn out the light
Don't try to save me
You may be wrong for all I know
But you may be right"

-- Billy Joel