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RE: Everyone Loves Puppies
Have you diversified into other things, or are you still heavily betting on cryptocurrency? Which cryptocurrency do you like the most and why?
I hope you don't mind me picking your brain.
As far as Bitcoin goes, I feel like I arrived to the party way too late. As far as the 100s of other choices go, it is hard to know since some will obviously do well as others flop.
Yes i am diversified into more than crypto. Rental property, gold, silver, and stocks. I have used some of my profits from crypto to pay down debt.
I made a lot of money with Dash but i have used profits to diversify into others. No real favorites... I take a chance on some newer ones like Neo, but not afraid to dump if i dont like what is going on with it...
It sounds like you have things well in-hand. I wish that I had been paying attention to crypto a couple of years ago, but that's water under the bridge. I guess the question is: what's the next big thing? As far as crypto goes, I am aware that if "big government" ever gets fed up with it, they will go into active suppression mode (like they have done with gold and silver for years). If the powers that be at the Fed (or some other central bank) decide to start kicking all the crypto investors in the nuts on a regular basis, the party will be over. It probably doesn't help either that some of the new crypto currencies are very much scams. To be honest, I have no idea if crypto currencies are still a worthwhile investment.
Hopefully it will be harder to control cryptocurrencies. First they are they are trying to find a wait to ensure they can collect taxes.
I believe that it is precisely because it is hard to "control" cryptocurrencies that governments will turn to plan B: suppress, ban and sabotage. I used to be a stock trader for years and my focus was on precious metals and the PM mining companies. As you probably know, the US Fed has no love for gold or any other "real" money that competes with their phoney fiat money. So, they have had a strangle-hold on the price of gold and silver for decades.
At the beginning, the big government players ignored crypto currencies. However, this will not last. I don't know when they'll drop the boom and start an epic beatdown on their new currency competitor, but I firmly believe it will happen.
Can people still make money off crypto currency? Of course. They should be aware, though, that the Mother of All Shakeouts will eventually be coming. So, when it comes my advice is this: "be the first one to panic, since he who panics first, panics best." In 2008 I foolishly did not follow this advice. I didn't panic when the mining companies all started to tank. Then, they tanked some more. So, I doubled down. Then thay completely tanked and the bottom fell out. LOL! Lesson learned.