Nissan 370Z Forum  

Anyone here interested in cryptocurrency?

How is it in your country? I know the average age of a person here is not low 20s so I am curious to know.

Go Back   Nissan 370Z Forum > Nissan 370Z General Area > The Lounge (Off Topic)


Like Tree4Likes

Reply
 
LinkBack Thread Tools Display Modes
Old 01-04-2018, 11:04 PM   #1 (permalink)
Enthusiast Member
 
Kamillio's Avatar
 
Join Date: Mar 2015
Location: FL
Posts: 445
Drives: N/A
Rep Power: 51
Kamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond repute
Default Anyone here interested in cryptocurrency?

How is it in your country? I know the average age of a person here is not low 20s so I am curious to know.
__________________
370z
Kamillio is offline   Reply With Quote
Old 01-04-2018, 11:32 PM   #2 (permalink)
A True Z Fanatic
 
Join Date: Dec 2009
Location: 03350 Australia
Posts: 1,502
Drives: 09 Nissan 370Z M6
Rep Power: 29907
BGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond reputeBGTV8 has a reputation beyond repute
Default

Well, on another car forum I frequent, a 30-something re-mortgaged his house and purchased at ~AUD26K and is currently well out of the money.. He is down nearly 6 figures.

Those who have never lived thru a harsh recession and/or who assume it can only continue to rise are most at risk.
BGTV8 is offline   Reply With Quote
Old 01-04-2018, 11:56 PM   #3 (permalink)
Base Member
 
NVSTR's Avatar
 
Join Date: Jul 2016
Location: Houston
Posts: 49
Drives: 2014 370z Nismo
Rep Power: 8
NVSTR is on a distinguished road
Default

Highly recommend if you hold any cryptocurrency to NOT publish it to the general public. Just makes you a target.
NVSTR is offline   Reply With Quote
Old 01-05-2018, 04:38 AM   #4 (permalink)
A True Z Fanatic
 
Zoren 370's Avatar
 
Join Date: Mar 2012
Location: FL
Posts: 11,018
Drives: 11 Nissan 370 M6
Rep Power: 1913653
Zoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond repute
Default

What you gained easily you’ll lose easily!
Zoren 370 is offline   Reply With Quote
Old 01-05-2018, 07:24 AM   #5 (permalink)
Track Member
 
The Dimer's Avatar
 
Join Date: Mar 2011
Location: Bolingbrook, IL
Posts: 632
Drives: 2010 PW 370z
Rep Power: 15
The Dimer has a spectacular aura aboutThe Dimer has a spectacular aura about
Default

My friends and I all have a couple hundred in there just to see what happens but I don't trust it enough to try and retire young or anything like that. Number one rule has always been don't invest what you're not willing to lose. I'm just riding the roller coaster.
__________________
K&N Drop-Ins, Z1 Post-MAF Tubes, FI 18" CF TDX, TWM Short Throw Shifter w/ A6 Leopard Knob, 'esfourteen' clutch helper spring, 'kellyefields' hood struts.
The Dimer is offline   Reply With Quote
Old 01-05-2018, 11:10 AM   #6 (permalink)
Premium Member
 
SouthArk370Z's Avatar
 
Join Date: Nov 2010
Location: South Arkansas
Posts: 8,435
Drives: 2014 Challenger
Rep Power: 324197
SouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond reputeSouthArk370Z has a reputation beyond repute
Default

I have some satoshis that I got when BTC was much cheaper. Use it mainly to donate to charities, software developers, political campaigns, etc. I didn't invest in BTC expecting to make any money.

It has been difficult spending BTC and the recent volatility makes it even harder. Nobody in South Arkansas takes BTC and very few places on The Internet that I'm interested in shopping at do.

As far as investing in BTC, I think The Dimer has the right idea - "don't invest what you're not willing to lose".

Converting BTC into fiat money can be a royal PITA, especially if you are concerned about privacy and/or having your financial info hacked.
__________________
Steering Lock Links - Search The370Z Bookmarklet - FSM @ NICOclub
Mankind has progressed past the need for war but we haven't evolved that far. - NachoMahma
SouthArk370Z is offline   Reply With Quote
Old 01-06-2018, 10:02 AM   #7 (permalink)
Enthusiast Member
 
Join Date: Feb 2011
Location: DFW
Posts: 312
Drives: 2016 Nismo Tech MT
Rep Power: 14
ltullos is a jewel in the roughltullos is a jewel in the roughltullos is a jewel in the roughltullos is a jewel in the rough
Default

For anyone curious to learn more about why cryptocurriences and blockchain technology will be transformational to our future, I'd encourage you to watch this video Intro to Bitcoin.
ltullos is offline   Reply With Quote
Old 01-08-2018, 09:14 PM   #8 (permalink)
Enthusiast Member
 
Kamillio's Avatar
 
Join Date: Mar 2015
Location: FL
Posts: 445
Drives: N/A
Rep Power: 51
Kamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond repute
Default

So I see everyone has a little bit different opinion, most made different drastic (friend who lost the six figures) or tiny investments in it though.

None of you mentioned mining (which will later change to "proof-of-stake") of coins that exist now. I think that may be more up the alley of people here because you invest in a machine (physical or in the cloud) that's using its computing power to earn cryptocurrency which is worth dollars.
__________________
370z
Kamillio is offline   Reply With Quote
Old 01-08-2018, 11:18 PM   #9 (permalink)
Ronin Samurai - Assassin
 
Rusty's Avatar
 
Join Date: Dec 2011
Location: Fayettenam,Pennsyltucky
Age: 68
Posts: 34,812
Drives: 2011 Nismo GM 6M
Rep Power: 2684436
Rusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond repute
Talking

I'm an investor. I made enough to retired early though mutual funds, 401K, and stocks. I've read both sides about bitcoin and others like it. My feeling is that it's in a bubble right now like the tech stocks was years ago. Remember the dot.com bust? It's all speculation that drives the price. People are holding on to it. Not spending it like money. Treating it like stocks. The idea behind bitcoin is that there is ONLY so many to be mined. It's not an infinite number. The rumor is that the creator of bitcoin is holding a couple million bitcoins. Waiting for the right time to dump them. Making a killing on them and breaking everyone else. Bitcoin has no real assets. Nothing that you can touch. If a solar flare or EMP takes down the grid. What are you going to to? Like it was said before. It's hard to change bitcoin to cash. And not many places will take it.
Zoren 370 likes this.
__________________

浪人 - 殺し屋
"The Difficult Anytime, The Impossible By Appointment Only"
http://www.the370z.com/members-370z-...o-journal.html
Rusty is offline   Reply With Quote
Old 01-09-2018, 03:57 AM   #10 (permalink)
A True Z Fanatic
 
Zoren 370's Avatar
 
Join Date: Mar 2012
Location: FL
Posts: 11,018
Drives: 11 Nissan 370 M6
Rep Power: 1913653
Zoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond reputeZoren 370 has a reputation beyond repute
Default

Government is also watching people invest or laundering money with bitcoin, they want a whole chunk of the money too for tax.
Rusty likes this.
Zoren 370 is offline   Reply With Quote
Old 01-09-2018, 08:18 AM   #11 (permalink)
Track Member
 
The Dimer's Avatar
 
Join Date: Mar 2011
Location: Bolingbrook, IL
Posts: 632
Drives: 2010 PW 370z
Rep Power: 15
The Dimer has a spectacular aura aboutThe Dimer has a spectacular aura about
Default

Quote:
Originally Posted by Zoren 370 View Post
Government is also watching people invest or laundering money with bitcoin, they want a whole chunk of the money too for tax.
That's one thing I've noticed as I see people get swept up in the crypo scene, be it bitcoin, ethereum, litecoin, etc. Many of the people getting into it during the hype phase we're in right now don't even think about paying taxes and when someone reminds them they should report it come tax season, they dismiss it.

You want the government to to come down on currencies? Not pay taxes on your earnings is probably that fastest way to get that to happen.
Rusty likes this.
__________________
K&N Drop-Ins, Z1 Post-MAF Tubes, FI 18" CF TDX, TWM Short Throw Shifter w/ A6 Leopard Knob, 'esfourteen' clutch helper spring, 'kellyefields' hood struts.
The Dimer is offline   Reply With Quote
Old 01-09-2018, 10:16 AM   #12 (permalink)
Enthusiast Member
 
Kamillio's Avatar
 
Join Date: Mar 2015
Location: FL
Posts: 445
Drives: N/A
Rep Power: 51
Kamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond reputeKamillio has a reputation beyond repute
Default

Quote:
Originally Posted by Rusty View Post
I'm an investor. I made enough to retired early though mutual funds, 401K, and stocks. I've read both sides about bitcoin and others like it. My feeling is that it's in a bubble right now like the tech stocks was years ago. Remember the dot.com bust? It's all speculation that drives the price. People are holding on to it. Not spending it like money. Treating it like stocks. The idea behind bitcoin is that there is ONLY so many to be mined. It's not an infinite number. The rumor is that the creator of bitcoin is holding a couple million bitcoins. Waiting for the right time to dump them. Making a killing on them and breaking everyone else. Bitcoin has no real assets. Nothing that you can touch. If a solar flare or EMP takes down the grid. What are you going to to? Like it was said before. It's hard to change bitcoin to cash. And not many places will take it.


I agree with you. Bitcoin itself actually uses outdated technology in comparison to other cryptocurrencies. Some individual coins have potential while 95% of them will disappear after the initial big boom for coins that is happening now because they won't have a real world use. Some of the coins are developing actual products that will or will not be accepted in the future. Even if USA places heavy taxes there is still the rest of the world to decide whether or not they will be accepted.

With regards to the bubble. I agree that it is a bubble now because there are thousands of new people buying into crypto and holding for now. One thing I want to point out is that the total money held in crypto now is only 750 Billion while NYSE alone is 21 trillion. So is it really still a bubble? Would it be considered a small one if so? I am too young to remember the dot com bubble details and numbers to be able to compare.


Sent from my iPhone using Tapatalk
Rusty likes this.
__________________
370z
Kamillio is offline   Reply With Quote
Old 01-09-2018, 01:43 PM   #13 (permalink)
Ronin Samurai - Assassin
 
Rusty's Avatar
 
Join Date: Dec 2011
Location: Fayettenam,Pennsyltucky
Age: 68
Posts: 34,812
Drives: 2011 Nismo GM 6M
Rep Power: 2684436
Rusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond repute
Talking

With the new tax code for 2018. You will be paying taxes on transactions with bitcoin and others. Don't have the details on how that will work. The gov't is able to see each transaction some how. Other gov'ts are cracking down too. They see a new a tax revenue. In the end. It's going to be taxes as Capital Gains. China has raided exchanges. With those raids. They got the books on transactions. So they know who is doing what. Also there have been big hacks on the exchanges. A few of the exchanges have been wiped clean over in Asia. North Korea is the biggest hacker of the exchanges.
__________________

浪人 - 殺し屋
"The Difficult Anytime, The Impossible By Appointment Only"
http://www.the370z.com/members-370z-...o-journal.html
Rusty is offline   Reply With Quote
Old 01-09-2018, 08:22 PM   #14 (permalink)
A True Z Fanatic
 
ZeeingAround's Avatar
 
Join Date: Dec 2010
Location: Michigan
Posts: 6,365
Drives: 3500 NVP 370Z-sold!
Rep Power: 86623
ZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond reputeZeeingAround has a reputation beyond repute
Default

Quote:
Originally Posted by Rusty View Post
I'm an investor. I made enough to retired early though mutual funds, 401K, and stocks. I've read both sides about bitcoin and others like it. My feeling is that it's in a bubble right now like the tech stocks was years ago. Remember the dot.com bust? It's all speculation that drives the price. People are holding on to it. Not spending it like money. Treating it like stocks. The idea behind bitcoin is that there is ONLY so many to be mined. It's not an infinite number. The rumor is that the creator of bitcoin is holding a couple million bitcoins. Waiting for the right time to dump them. Making a killing on them and breaking everyone else. Bitcoin has no real assets. Nothing that you can touch. If a solar flare or EMP takes down the grid. What are you going to to? Like it was said before. It's hard to change bitcoin to cash. And not many places will take it.
Back about 7 or 8 years ago if I remember right, you could get a physical Bit coin, but those are gone now and worth more than just the face value.
There were some advertising stuff and surveys giving bit coin away, and I never paid attention. looked at it a bit when it jumped to $12 from $3. I should have just took a chance at that time, but Mt Gox and the drug dealer busts were enough to keep me away.
I guess getting into the mining business would have been good back then too if you stuck with it.

If anyone wants to know some more info and has no idea what bit coin is, they should have a look at this interview with Roger Ver.
https://www.youtube.com/watch?v=N6NscwzbMvI
__________________
Get some roosters for eggs and Bulls for milk . Then you will see that gender matters. Especially at milking time.

Last edited by ZeeingAround; 01-09-2018 at 08:24 PM. Reason: Cause I am human
ZeeingAround is offline   Reply With Quote
Old 01-09-2018, 09:16 PM   #15 (permalink)
Ronin Samurai - Assassin
 
Rusty's Avatar
 
Join Date: Dec 2011
Location: Fayettenam,Pennsyltucky
Age: 68
Posts: 34,812
Drives: 2011 Nismo GM 6M
Rep Power: 2684436
Rusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond reputeRusty has a reputation beyond repute
Unhappy

Just read about North Korea and a few other rogue actors mining for bitcoin.
__________________

浪人 - 殺し屋
"The Difficult Anytime, The Impossible By Appointment Only"
http://www.the370z.com/members-370z-...o-journal.html
Rusty is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
[FOR SALE] Anyone interested in any of these? G6JPM Parts for sale (Private Classifieds) 17 08-01-2017 08:06 AM
Anyone interested in a WHEEL GB? NuGen Auto Wheels & Tires 24 06-01-2014 04:08 PM
For those of you interested in the RE-11A..... chrischhorn Wheels & Tires 34 08-12-2013 08:14 PM
[FOR SALE] Would anyone be interested? Apyung1506 Parts for sale (Private Classifieds) 5 09-30-2012 01:23 PM
Anyone Interested In A O HELLA JDM Southern California Region 16 05-27-2011 09:58 PM


All times are GMT -5. The time now is 09:59 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.6.0 PL2