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Originally Posted by Cyberbob
I'm still staying away from crypto. I still see it as less of an investment and more of a visit to the Casino with extra steps.
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Yeah, and the interfaces that we use to perform cryptocurrency operations are all gamified to hell now too. Badges and pretty colours, and it was a dopamine fest already. So addictive.
My thoughts as at now:
If you're treating cryptocurrency as an investment, put money you don't mind losing into something that you think has a future and put it on a longterm wallet and lock it away. Give yourself a time window of not caring ("I'm going to forget about this until 2025 unless emergency") and forget about it. This was my attitude until earlier this year then money crunch and bills and I had to unforget about it.
If you're treating cryptocurrency as a way of making immediate income (like I did last week when I wanted some money for Xmas presents), put your money in something volatile, buy low, wait for a jump, sell high, get out and walk away.
If you're treating cryptocurrency as a way of making ongoing income as a daytrader, you're smarter than I am and have more hours in the day than I do.
If you're treating cryptocurrency as an alternative to "real" (fiat) money, cool. Use whatever combo of fast, stable, and low-transaction-fee works for you. I did some contract work recently for an outfit in Canada and got paid in Lumens because it was faster and cheaper than an international transfer of Canadian dollars and converting to Australian dollars. I've got an EFTPOS card that draws straight on that online wallet so that week I paid for gas and groceries direct from crypto without ever involving fiat money or a bank, which was a first.
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Originally Posted by Nich
In other news XRP is accused by SEC of its tokens being treated as shares in Ripple Labs. Ru roh! Threats of delisting XRP from exchanges lest they be subject to sharemarket regulations... annnnd rekt.
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edit update: Coinbase is delisting XRP.
https://decrypt.co/52800/coinbase-to...owing-sec-suit