Cryptocurrency as a savings option

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>>131732307

Who is this sperm worm, god shes beautiful, would blanda up and betray my race for

>>131732307

if you put half your savings into cryptocurrency, which agency is there to help you out if you get scammed? honest question

>>131732307
Roth IRA

>>131732307
Don't. I lost a lot of money in crypto currency its not worth it. There is no stability and everyone is trying to scam you. Stay away.

>>131732307
BTC or LTC. I'm losing faith in ETH.

>>131732456
>which agency is there to help you out if you get scammed?
Isn't the selling point of cryptocurrency that there's NO regulation?

>>131732585
What scams exist?

>>131732644
Isn't Ethereum technically a more robust protocol than BTC? What are its downsides?

>>131732307
Crypto is in a bit of a bubble right now. Ethereum isn't a very safe bet. If anything get some Bitcoin and look into Siacoin, which has enormous potential and serious autist devs.

If this was a good idea, you wouldn't have to ask anybody

>>131732456
NAMBLA

>>131732644
ETH is recovering just fine

>>131732687
>>131732761

It's having scaling issues, and growing more rapidly than BTC.

>>131732585
Also, is it not the case that cryptocurrencies start unstable and slowly trend towards their market value? Partly because of >>131732978

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>>131732456

>which agency is there to help you out if you get scammed?

none. same as putting your savings into (((currency))).

Cryptocurrency isnt safe. No one gets fiat out of it, but the coinshils in here WILL direct you to all manner of shady dubious sites that they will claim you can use your coins at. Don't believe the muh lambos racket. It's fake.

>>131732761
That drop was because everyone though half the dev team died in a car crash.

I'm sick of people who actually care about money willing to gamble money they can't afford to lose.

You people make me sick.


I had $70k sitting in my account in 2015, so I bought $35k worth of BTC at $288. I'm still holding even though that $35k is now a little over $400k, because that amount does nothing for me, I don't give a shit, I have a roof over my head, I have food, I have savings, I'm not materialistic enough to give a shit. I'll probably hold until if it ever hits $20k or so, but I'm not selling at all, no point.


That other $35k sitting in my account since 2015? It's still there, just wasting away.

Basically what I'm trying to say is unless you don't give a shit about losing all that money, don't even bother trying to get into this shit, you're just going to cause yourself stupid amounts of stress, and for what? So you can buy a better house, or better car? who gives a fuck.

>>131732978
But it's inflationary. That pisses me off.

>>131733041
I don't want a better house or a better car. I want any money at all when the petrodollar system explodes, since China is taking half the world and running from it soon.

>>131733012
the lambo company accepts bitcoin

>>131733041

See this guy is a good example of the types of made up bullshit the BTC scammers will try to sucker in dopes with.

How easy is it to convert money between 'normal' currency and cryptocurrency?

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This could be pretty big, as long as there's some sort of a failsafe or reimbursement for loss/theft of funds

imo cryptos sound like a much better concept for money storage than (((banks))), but I'm worried (((they))) might get ahold of the crypto world as well

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>>131732307
if you use cryptocurrency, make sure you know how it works down to the packet level, also try to understand asymmetric encryption
ignore these brainlets trying to scare you away from it

you can't turn cryptocurrency back into real money reliably so why throw your savings away

>>131733213

Ypu can't, and if you tried your goverment would fuck you in the ass trying to tax you.

>>131733213
They have credit cards that link to your crypto now.

Transaction fee, sure. But it's a Visa card.

I've owned Bitcoins since 2010, I think.

>I'm thinking of putting away half of my money away in Ethereum or another cryptocurrency as a savings account. Good idea?
Yes, as long as it's money you can afford to lose. You should probably diversify, though. Spend some on Bitcoin, some on Litecoin, some on Ethereum etc.

The one thing you absolutely shouldn't do is daytrade. When Bitcoin suddenly drops in value, do not panic and try to frantically sell everything. Just invest and hold for years, or you'll end up like >>131732585 .

>>131732456
>if you put half your savings into cryptocurrency, which agency is there to help you out if you get scammed?
There is no central agency. You're in charge of keeping your own money safe.

>>131732687
>Isn't Ethereum technically a more robust protocol than BTC? What are its downsides?
It doesn't necessarily matter that Ethereum has more features. Bitcoin has the first-mover advantage. It's the only currency you can actually use in a lot of stores.

>>131732307
Retards here will tell you yes, but the reality is speculation has driven values well over their market share. VC firms have been investing in and speculating with crypto, making them valued much higher than their real world application as a currency.

It's very likely we are in a crypto currency bubble. It's also likely that, of all the existing currencies, and probably some that don't even exist yet, there will only be one or two winners. The rest will become essentially worthless some day.

You can invest in it, but putting half is fucking dumb. If I owned bitcoin right now, I would sell it.

>>131733041
Also, for those getting into autism-coins. Just buy LTC now, it's pretty much going to be BCT 2.0.

This year is probably going to be the last year where it's affordable for even average people to get into autism-coins in terms of making a very big long-term profit.

t. now have 300+ LTC

>>131733370
I have 50. Where do you see it topping out?

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>>131733370
So you unironically think you are going to be a millionaire within 3 years?

>>131733118
Yeah, that sucks as well. I think the intent of the inflationary measures is to account for "lost" ETH over time, but I really don't think that should be anything the protocol should concern itself with.

It's likely going to hurt potential long-term value.

>>131733230
>This could be pretty big, as long as there's some sort of a failsafe or reimbursement for loss/theft of funds
Insurance might speed up mainstream adoption, but the real solution is to just make good security solutions easier for everyone.

Hardware wallets are a step in that direction. They need to become idiot-proof, though.

>>131733435
My predictions

BTC - 20-50k
LTC - 10-25k

All within 10-15 years.

Glad I have $30K in it, dispersed across bitcoin, ether and litecoin.

Let's see where this shit goes, eh?

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>>131733597
Who do you think would really pioneer these solutions? The creators of the currencies themselves, third party organizations, governments?

As far as the consumerism goes, it really boils down to how accepting of cryptos the market is

>mfw buying groceries with bitcoins in 2036

>>131733370
The bubble is going to burst eventually but I bought about $400 in litecoin right before the spike in March, its been killing it.

>>131733548
I don't care either way. If all the money I've put into autism-coins disappeared right now it would make zero difference on my lifestyle.

I'm just simply not a "spender". Normies with normie spending habits/needs should probably steer clear of this stuff. Only get into it if you can afford to lose everything you put into it.

Unfortunately normies want some quick easy rich scheme so they can fund their normie lifestyles, so they wont listen.

>>131733041
That sounds like a really stupid plan. Why not just burn all the cash? Sounds like you are already rationalizing losing it all. Idiot.

Here's a better plan: sell it off slowly over time.

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>>131732307
>I'm thinking of putting away half of my money away in Ethereum
>etherium
If you want to lose money just send it to me

>>131732307

>investing in a shitty meme currency that tanked cause of 4chan rumors

you deserve to be poor

>>131733852
>bubble

This word has become overused by """"experts"""" so much now it's meaningless.

According to the """experts""" Australia has been in a housing bubble for 15 years, except we actually haven't....people bringing in more money from overseas and buying property =/= bubble.

I believe autism-coins are similar, in that the """""experts""""" don't actually know when we're in a bubble anymore.

>>131732307

LTC, btc and eth are too high-priced for their value

>>131733646
Delusional

>>131734142
Didn't you hear the news, though? Bitcoin is dead. It's finished.

https://99bitcoins.com/bitcoinobituaries/

>>131734142
Its a finicky thing, who's to say. The market is volatile as fuck, thats why its somewhat profitable at the moment. Not to mention exchanges are effectively unregulated, look at the ETC flash crash the other week. Man, I wish I'd been watching the market for that, $0.10 to $400 in minutes. Shit like that will scare off investors and business, market manipulation is too easy.

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>>131732307
No, they aren't good at being money or for saving.
They are good for speculation and trading if you want high margins.
Right now holding cash is probably the best option until market crashes again.

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It's a brilliant idea, OP. Go for it!

10-15% of savings

Spread some out amung the alt coins ...monero, ripple, digibyte, stuff like that as well.

>>131734142
You are in a bubble.
Most of the prices are rising as a consequence of mortgage debt growth, not "real" money.
So is Canada, China and a bunch of other countries that mostly "avoided" the 2008 crisis.

>>131734342
Anyone who comes into stuff like this hoping to make desperate to make a quick buck so they can buy a new high performance car or something retarded like that deserves to get shit on like that.


As I said though, I don't recommend anyone buy into autism-coin unless they can afford to lose it all. You should buy in 100% relaxed and comfortable, no stress, no worry. If you're going into it afraid, nervous, worried, you're doing it wrong. Money ain't that serious so long as you have a roof over your head and food to eat.

A quick guide to how to win at crypto.

>Buy Bitcoin.
>Buy a small amount of every other alt coin out there just so you have some of each.
>Forget you had it.

Now when the big financial collapse happens or the next big news comes out about crypto you can go out and buy that Lamborghini you wanted.

>>131734667
I agree, but the real value comes from investors and business, which aren't going to put up with sketchy unregulated markets and volatile assets once the profits aren't so great. Eventually someone's gonna end up holding the bag, I wouldn't buy crypto for a long term investment.

>>131734964
I don't want a Lamborghini. I'm not saving to spend on stupid dumb shit. I just want to HAVE money on the other side of the crash, that I can then use to invest in a recovering, hopefully more free economy.

>>131735171
Obviously
I was just trying to put together a general guide anyone can follow.
The normalfags probably don't believe in things like economic crashes.