Crypto 101?

[XLexusTech]

For what is worth lots of signal that BTC is in a bear market situation (look up definition 20% decline.. ) and headed for a big slide in the next few months..

I wouldn't touch it.

[AMSOILGUY]

Originally Posted by XLexusTech

For what is worth lots of signal that BTC is in a bear market situation (look up definition 20% decline.. ) and headed for a big slide in the next few months..

I wouldn't touch it.

Great info and I have been seeing this as well. Now if this is true time will tell. The thing that is so appealing about BTC is that when it is all said and done and all of it is in circulation there isn't even enough for every millionaire in the world to own 1. I know that doesn't mean that all millionaires will want to own it, until you tell them they can't.

I haven't rode in a Tesla and actually don't know a single person that owns one. I have read reviews and many owners are extremely happy with them. Tesla accepts BTC for payment on their product, does that mean something?

[AMSOILGUY]

It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!

[Vegas69]

Since this is Crypto 101, can anybody explain Crypto simply enough that a teenager can understand it? (Or a middle aged guy with zero knowledge)

[slimjim]

Defining Crypto in the way you delivered the question goes down the path of Bitcoin, XRP/ripple etc, ie the actual currencies used within various block chains., and yes they're being used as currencies, a large number of celebrities and sports players are now being paid in it. It goes a whole lot deeper than that with smart contracts via the way of the Ethereum block chain to keep it brief.
I'm about 6 months ahead of you, so yes, I missed the crazy days, but I've got a a couple of friends who have the stories I'm sure you heard that got you interested. The BEST way to learn more is literally YouTube, heck, If you find any great explanatory videos post them here.

The hard part in "Crypto" is accepting the lack of physical backing, and having faith in the future growth of the online. I believe the development of WEB3.0 and of course the "Metaverse" are a couple things promising a fine future.

I have a little crypto, literally just holdings in the ones I like, the ones that have uses and I see being used more and more in the future(no, not bitcoin). I invest more in dividend shares but I find some solace knowing that companies like NIKE, Facebook(META), Twitter(BLOCK), Samsung etc are all dumping 10's of millions into the metaverse.

Then their's NFT's...
Then there's gaming...

[slimjim]

Originally Posted by AMSOILGUY

It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!

Most crypto moves under the wholly speculation of bitcoin, for now it mostly all resides under one volatile reputation/speculation. It further does not help that the stock markets took such a tumble, and that could be what caused the big drop over the last 48hrs.

[XLexusTech]

Originally Posted by AMSOILGUY

It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!

What makes Crypto real is Institutional investment. That started happening a few years ago. Whats driving it down right now is basic fundamentals. Specifically supply and demand, Demand is down and Institutional investors are withdrawing.

We're e also in for a Bear market.. many are suggesting a 20% drop in the major Indexes as we drive through Midterm elections, covid recovery and inflation.

Buckle up everyone.

[AMSOILGUY]

Originally Posted by Vegas69

Since this is Crypto 101, can anybody explain Crypto simply enough that a teenager can understand it? (Or a middle aged guy with zero knowledge)

Crypto is electronic money. From what I see its all about who can transfer it fastest and with the least amount of fees. "Security and congestion slow this down" It's super competitive which explains why all kinds of new technologies and ideas are happening.

[AMSOILGUY]

Originally Posted by slimjim

Defining Crypto in the way you delivered the question goes down the path of Bitcoin, XRP/ripple etc, ie the actual currencies used within various block chains., and yes they're being used as currencies, a large number of celebrities and sports players are now being paid in it. It goes a whole lot deeper than that with smart contracts via the way of the Ethereum block chain to keep it brief.
I'm about 6 months ahead of you, so yes, I missed the crazy days, but I've got a a couple of friends who have the stories I'm sure you heard that got you interested. The BEST way to learn more is literally YouTube, heck, If you find any great explanatory videos post them here.

The hard part in "Crypto" is accepting the lack of physical backing, and having faith in the future growth of the online. I believe the development of WEB3.0 and of course the "Metaverse" are a couple things promising a fine future.

I have a little crypto, literally just holdings in the ones I like, the ones that have uses and I see being used more and more in the future(no, not bitcoin). I invest more in dividend shares but I find some solace knowing that companies like NIKE, Facebook(META), Twitter(BLOCK), Samsung etc are all dumping 10's of millions into the metaverse.

Then their's NFT's...
Then there's gaming...

Are you in any NFT projects.

[slimjim]

No I’m not, but I am trying to understand them better. That’s some next level insanity