Thread: Crypto 101?
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Old 02-03-2022, 06:55 AM
silvermonte silvermonte is offline
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I got into bitcoin about 15 years or so ago, it was around $500 apiece then, and I purchased a few thousand bucks worth. I used blockchain and it was easy to buy and sell then, just like any website that you buy and sell stocks. How I look at this market is the coins are just stocks with nothing backing it except public demand. More demand and the price goes up.

I sold my bitcoin when it made the news that it was up to $25k apiece, I thought that was going to be the top of the market so I got out. I had actually forgot that I purchased them years prior. What ended up being a shock was how much of a pain it was to sell them in the current market. New laws and such, the old program I had wouldnt actually let me sell them under current Iowa laws. I had to transfer all my coins over to a buddy that still dabbles in the stuff and has a current program and he sold them for me. I made a pretty penny from them but I was in this market way early. Not sure I would get into it today with all the new versions of coins coming and going.

That being said I dont think coins are going to disappear anytime soon. I think the younger generations really embrace it just like teslas are their "muscle" cars of today.
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