Is investing in crypto worth it? I'm a newbie.

you're 7 years too late.
>>>/biz/

>>38733259
This is probably the worst time to invest in crypto. You're too late to get in before anyone knows about it and be able to make huge profits. And you're too early for it to have gone mainstream, so you'll still have to deal with clunky UIs, a lack of useful places to spend crypto, and poor infrastructure for exchanging it for legal tender.

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>>38733259
This shit is so random, I invested 4k and was up to 40k and didn't do anything. Then I invested another 14k. Well, I have 10k now.

>>38733324

I'd disagree with this but tell me how I'm wrong. All these crypto exchanges now exist and this gives all the people involved in running the exchanges and the associated enterprises like crypto 'training', trading bot writers, specialists, educators, a huge incentive to keep it going and expand their enterprises.

Bitcoin might be pretty famous but it's still mostly 'esoteric' even online to some degree, and as these businesses expand and more and more people move into trading and even using crypto (people can use it to hide tax money, to make pretty anonymous payments etc), the value will continue to increase.

Investing now makes sense.

>>38733272
This.

Ever hear the phrase "buy low, sell high?" Does $2,000+ per bitcoin sound low to you when historically its value has been around $300?

You're not looking for investments, you're looking for get rich quick schemes. Get that idea out of your head. You're not going to be a millionaire. Focus on slowly building wealth so you can retire at 35.

>>38733553
>Focus on slowly building wealth so you can retire at 35.

The chances of anyone being able to retire at 35 by "slowly building wealth" are slim to none.

Unless they're planning to retire at 35 and die at 40.

>>38733553

You're dishonest or ignorant.

The value of Bitcoin is unstable but the GENERAL trend has been steadily increasing in value. $3000 per bitcoin is the historical high, it's more like $2700 right now and might crash in the next day because of this split but will return to value.

There's no reason to believe I won't continue to increase in value. The whole idea of Bitcoin is to do so.

>>38733472

Yeah, there are lots of exchanges that exist, but none of them have been around long enough to be considered reliable yet. Mt. Gox was the biggest exchange in the world for awhile, and then they lost over half a billion in customers' money and went bankrupt.

I wouldn't trust any bitcoin exchange with any significant amount of real money.

>people can use it to hide tax money, to make pretty anonymous payments etc

This is exactly what I think will be the death of cryptocurrency. Because it is so easy to evade taxation and launder money with it. Do you really think governments are going to put up with that forever? The only reason they've let it slide up until now is because there's not enough money involved to be worth the trouble.

Eventually there will be, and the government will either find a way to shut it down, or to get their tax money. And either way, the value cryptocurrencies will drop dramatically when that happens.

I could be wrong though, this is all just my opinion.

Maybe at the beginning yeah. Don't even think about trying to mine bitcoins, you'll be using a shitload of electricity before you make your first dollar. Mine in one of the lesser coins if you want to or just buy some and sit on them for a while, it's what I'm doing.

>>38733766

But what can government possibly do? They would have to entirely ban encryption. Governments cannot resist this movement they will be forced to adapt. Apple Pay is a taste of what's to come. Here in Australia they won out over the biggest banks in the country and apple are going to allow people to send payments over iMessage in the next iOS. So long as the internet exists and so long as we have the right to communicate electronically in encrypted form - crytocurrencies and technologies like it are unstoppable.

>>38733896
I'm not an expert in how cryptocurrencies work, so I don't know all the options for what they could do, but as I see it they have several choices.

They could ban cryptocurrencies and punish people that use them. They could make it illegal to run exchanges, leaving people with no safe legitimate methods to exchange currencies. They could require companies accepting payments in cryptocurrency to report it and pay taxes, or face stiff IRS penalties. They could have hackers hack into exchanges and steal/destroy the cryptocurrency so people lose faith in them.

>>38734007

Well cryptocurrencies are basically just 'public ledgers' that are encrypted - basically a public record of who paid who what - which establishes how many bitcoin you own. It's literally no different than say if you whatsapp a friend and say "johnny owes you $20 but I owe him $20 so I'm giving it to you", so it's practically impossible to ban unless you ban encrytion technologies which is not going to happen because the power of those who use and need it overwhelms the power of the state or even any organised group of people who might try.

If they paid hackers other more developed coins will replace the old.

Buy small amounts of coins hope they increase in price, and then sell. But honestly the market is shitting it self and people are losing money. Watch out for China pump and dumps this dictates a coins worth more or less. Good luck Robot and remember DON'T INVEST WHAT YOU AREN'T WILLING TO LOSE! end caps.

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Don't do it OP.

I invested about $300 and it's now about $190 after the crash. Majority is in ARK btw.

>>38733259
Too volatile. It could go either way, which is a huge gamble, not an investment.

If you want to invest, do index funds. Buy and hold. It's the only way.

Check out these. You'll thank me later.
https://www.bogleheads.org/wiki/Getting_started
https://www.youtube.com/watch?v=SwkjqGd8NC4

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It's never too late!!! You can do it! Buy now!