Opinion Cryptocurrency Investments?

Discussion in 'Off Topic' started by Neptune, Jun 16, 2017.

  1. Neptune

    Neptune Member

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    Anyone invested/interested in crypto-currency (BitCoin, Ethereum, LiteCoin, Golem ... etc)?
    I'm particularly interested in Ethereum's latest stock fluctuations.

    What do you all think?
     
  2. 0.Bytes

    0.Bytes Member

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    I think Bitcoin is the most "mainstream" and safe at the moment, I cannot tell about the other.

    It is better have all the information you can before do that !
     
  3. chance

    chance predictably random Forum Staff Moderator

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    I wouldn't invest in cryptocurrency markets right now. (Wish I'd purchased some a few months ago, however.)

    Those markets are in a classic bubble. Ethereum was selling for $10 USD in January. Now it's nearly $400. Bitcoin has gone from $800 to nearly $3000 USD in the same period. Granted, more merchants are accepting digital currency, so that justifies some price increase. But not exponential increase. That's just a speculation bubble that will burst.

    After that happens, the speculation cycle will start again. So keep your eye on it and be prepared to act quickly.
     
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  4. hrtstudios

    hrtstudios Guest

    I think bitcoin and etherium are the only two I would invest in. Maybe litecoin too. Almost all the others seem like pump and dump schemes where the developers pre-mine a good portion of the coins and then spin it up to seem like the next big thing. Of course they get out at that point and leave everyone else holding the bag.
     
  5. RedChu

    RedChu Member

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    I'm holding numerous cryptocurrencies at the moment, though up until last month I had only Dogecoin. I've made a decent profit off of Dogecoin, but my reinvestment into other currencies is paying off at the moment. I've spent absolutely no money of my own as everything I have was made with Dogecoin.

    I personally would not invest in Dogecoin right now... the price is way too high and I can't see it breaking any higher for what it is. Then again, I felt that way back in December 2013 when it first came out, so what do I know?!

    Ethereum is a good bet, though a bit pricey right now. I wouldn't invest into Litecoin myself, and Bitcoin is waaaaaaaay too expensive. You could get into it now, but I feel you're risking a lot with its current price. There are some other altcoins which have potential - Stratis being one, Waves another. Stratis' growth has stalled right now, though.

    With all investments, though, only invest what you can afford to lose, and don't plan to get rich quick. The true idea of cryptocurrencies is to spend them online, but as an investment it could take years for you to achieve an acceptable growth - if a growth at all. It's all a risk, all a gamble. The market is unpredictable, so take what I've said above with a grain of salt and use your own judgment.
     
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  6. Falconsoft-Industries

    Falconsoft-Industries Member

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    Are you suggesting that you want your customers developing ransomware with game maker, because I do not support this illegal activity if, this what you people in this thread want to do I prey for the day you get busted, unless you're only using this method for inapp purchases but there are more safer legal ways than using bitcoin
     
  7. Coded Games

    Coded Games Member

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    What are you talking about?
     
  8. Falconsoft-Industries

    Falconsoft-Industries Member

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    Oh I think you know what I am talking about. People who create ransomware to charge the innocent people for money to get their files back. Now if this thread is discussing whether or not to do that illegal activity with game maker studio, let's just remember its "game maker studio" not "ransomware studio" and there are many more legal ways of inapp purchases, for your game.
     
  9. Coded Games

    Coded Games Member

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    I don’t think you understand what this topic is about. It’s about investments in cryptocurrency, not making ransomware. Because it’s in off topic, it actually has nothing to do with GameMaker.
     
  10. RedChu

    RedChu Member

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    Hey, mrsmes. Long time, no see!

    Cryptocurrency is not ransomware, nor is anyone here discussing anything remotely related to ransomware. Cryptocurrencies such as Bitcoin are simply non-fiat internet currencies that can be used to buy things, though they're mostly used as a means of investment similar to stocks. They are in no way, shape, or form related to ransomware outside of maybe malicious entities who run ransomware stuff requesting coins to unlock their stuff - that has nothing to do with cryptocurrencies, though, and is a completely different subject. We're talking about the market for these coins/currencies and whether or not it's worth investing money into. Think of this as a discussion of Wall Street stocks and not some technologically confusing currencies. :)

    Hope you've been doing well, and I hope this clears up any misconceptions you've got.
     
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  11. Rockyfelle

    Rockyfelle Member

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    I am very impressed by your conclusion skills, you saw right trough those messages talking about investing in bitcoin for the sake of profit. Clearly it is so obvious now that they were talking about ransomware, I'm just really glad you cleared this issue up before any innocent victims would've been harmed by these awful, awful individuals in this thread. I will rest happy tonight knowing that you do not support this terrible act, that you stand up to the ransomware bullies stealing the innocent users files. You are the hero we need in our lives, the man who can see trough any appearingly innocent topic down to it's dark cold heart where the truth lies, waiting to strike at the moment when you least expect it, thank you for being a hero, @Falconsoft-Industries .
     
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  12. Falconsoft-Industries

    Falconsoft-Industries Member

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    Sorry I didn't know. Its just from what I learned on the internet is that bitcoin is often a currency for criminals to hold the innocent people's files ransom and they demand hundreds of dollars in bitcoin. That said I now know its also a safe credit card type of money, and I should not have jumped to conclusions. All I am saying is there are many other money payment currencies.
     
    Last edited: Jun 23, 2017
  13. Kuro

    Kuro Guest

    They weren't even discussing cryptocurrencies in the context of gamemaker or in app purchases. They were discussing it in the context of what they were personally interested in following or investing in, or even just discussing the inherent stabilities and risks. If you had said sorry it was a miscommunication and ended it there I wouldn't have brought it up, but I just feel the need to point out that by ending your last post with "All I am saying is there are many other money payment currencies" you're pretty much just giving people flack for the heinous crime of staying true to the topic of the thread, and as a comment it makes zero sense in a thread specifically about Cryptocurrency.

    On a side note... torrents are often used by pirates to share pirated games. Would you also consider my sharing of linux distros via torrent to be problematic on a account that someone somewhere is using torrents to do a bad thing therefore I must have nefarious intent also by mere association?
     
    Last edited by a moderator: Jun 24, 2017
  14. Falconsoft-Industries

    Falconsoft-Industries Member

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    Yes because pirating is stealing which is illegal and you have clearly stated in your post that you pirated that "distros Linux" which is stealing and dishonest when you could have obtained it from the Linux, website so tell me what else do you pirate? Movies? Games? Tv show series and their episodes? Music? Software? Did you pirate game maker studio or legally obtain it?
     
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  15. Coded Games

    Coded Games Member

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  16. Falconsoft-Industries

    Falconsoft-Industries Member

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    That must be you right about now
     
    Last edited: Jun 25, 2017
  17. SilverSurfer1221

    SilverSurfer1221 Member

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    I ... have ... no ... words ... wow ...
     
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  18. Kuro

    Kuro Guest

    I just have to say I did not expect that response. Your response is amazing.

    And I would like to leave it to stand on its own merits for the most part but I just need to clear one thing up. I never said that I pirate linux distros I said I share linux distros* ('distros' being short for 'distributions'). Here's an official linux distribution of linux for Raspberry Pi, note the words used in their official download links:

    [​IMG]

    By continuing to share the torrent after I finished downloading it I am donating bandwidth to help raspbian. This has nothing to do with piracy. It is simply one of their official distribution strategies.

    *This is what I said exactly:
    On another side note. I like the music video you linked. But if I was going to pigeonhole myself, it wouldn't be bad, or good for that matter, it would be chaotic neutral.

    [​IMG]
     
    Last edited by a moderator: Jun 25, 2017
  19. Coded Games

    Coded Games Member

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    [​IMG]

    Hey, would you look at that, torrents and cryptocurrencies both used in a perfectly legitimate way on one website!
     
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  20. SilverSurfer1221

    SilverSurfer1221 Member

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    I'm a 3D modeler. My modeling program of choice is MODO, which is created by the Foundry (used to owned by Luxology). When it was owned by Luxology, when you purchased the software, you were given an option for a direct download or to use a Torrent. Most of us used the Torrent, especially on the initial day of release. By doing so we not only got our download faster, but we helped others legally licensed users to get their copies faster, too.

    Torrents are not just for pirating, but are often used for legitimate purposes (as Coded Games and Kuro have pointed out).
     
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  21. nnynas

    nnynas Member

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    You know that feeling when you're not sure anymore, if someone is just trolling or not?
     
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  22. nnynas

    nnynas Member

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    OT: This again brings up the topic how mass media/some big companies have demonized certain things in front of general public. They only post these negative views and never write the whole story or positive side of things.
     
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  23. nnynas

    nnynas Member

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    Id say you need to be careful and do research before investing in any of these. Mining COULD still be profitable, not sure if Bitcoin is anymore a clever bet for that either.
     
  24. Falconsoft-Industries

    Falconsoft-Industries Member

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    Okay but in all fairness I did do my research on ransomware and bitcoin and cryptocurrency.
     
  25. Kuro

    Kuro Guest

    Which cryptocurrency do you prefer/would consider investing in?
     
    Last edited by a moderator: Jun 25, 2017
  26. SilverSurfer1221

    SilverSurfer1221 Member

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    No, you did not. Else you would not have made the inane statements you've made in this thread. Or perhaps, in doing your research, you completely misunderstood what you were researching ... just as you completely misunderstood just about everything people have been saying here.

    Sorry. I don't want to sound mean, but you not only completely misunderstood what people were talking about here (derailing this thread in the process), but you called out the OP and Kuro, claiming they were engaging in illegal activity.
     
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  27. Falconsoft-Industries

    Falconsoft-Industries Member

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    Well then I take that all back and I am really sorry. Is there anything I can say or do to make up for what I have done?
    I must have got my cryptocurrency theory from the cryptolocker ransomware video on YouTube and jumped to the conclusion that people here we're discussing how to replicate it using game maker studio however it would seem I was wrong. I should not have wrongly accused the people in this topic of discussing how to do that.
    See I confessed my mistakes and sins.
     
    Last edited: Jun 26, 2017
  28. Rockyfelle

    Rockyfelle Member

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    I approved you apology up until the "See I apologized look at me!!" part.
     
  29. Falconsoft-Industries

    Falconsoft-Industries Member

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    You seem to think this a joke? or are you actually being serious?
    sorry but i just cannot your post with those claims in this thread, but i don't grudge i judge, and i am really sorry if i thought you were joking about accepting my previous apology and it will not happen here again.
     
    Last edited: Jun 27, 2017
  30. hilena

    hilena Member

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    Bitcoin is the most popular crypto currency now. Bitcoin created a lot of noise around. I want to invest money in bitcoins. I read a very expanded article on how to buy bitcoin https://buybitcoincard.com/buying-bitcoins-with-credit-or-debit-card/ , but I want to hear advice for acquiring. How much coins can I gain on Btc? I still didn't come to a decision whether to own the bitcoins.
     
  31. TacticalCannonFodder

    TacticalCannonFodder Member

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    Ethereum may actually have lasting potential because of what the network does. It lets programmers replace lawyers and notaries, there's a lot to it.

    At one point I had what is now worth $200,000 in Bitcoin, and I don't have it any more. As far as investing goes, like many have said, staying mainstream is an OK way to go. Otherwise look for new coins and buy a ton of them up front when they're cheap. I did this with GameCredits and could have had an easy $10k but sold too early in fear (still made money).
     
  32. Guest User

    Guest User Guest

    If there is something I really regret is not investing in Bitcoin, in January 2009 – March 2010 the bitcoin price was "basically none"
    No exchanges or market, users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value. In March 2010, user "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found
    but in April 2010 bitcoin price went from none to (a not really significant amount) $0.003, when I look at the price today it is US$4180.29, now that what I call really significant, and just like what @chance said it is a "classic bubble", Bitcoin's price fell after China announced a ban on initial coin offerings (ICOs) from $4,584 to around $4,350 per bitcoin. This move to be shortlived, according to experts. The move by China is not the first time the country's regulators have attempted to crack down on cryptocurrency. Cryptocurrency is vague, even with those drops we might expect it to rise 200%-1000% or to drop to its lowest.
     
  33. Neptune

    Neptune Member

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    Welp, there is clearly a variety of understanding here.

    Here is what I've discovered since creating this off-topic:
    I've been following the articles, and twitter feeds and have been trying to stay "in the loop" on the trading of these "stocks". I've also been figuring out what a lot of these different currencies even are (their actual purposes are not always cut and dry). I still have no idea what block-chain is or how it works (which seems to be the general consensus). Some say its all a bubble, some say its the future. The graphs dont lie -- they're showing a nice increase, and there is proving to be new technologies popping up that allow these different currencies to have actual integrated uses.

    What I believe or know aside, over the past 2 or so months I've made a bit over 4000$ profit from day trading Ethereum and Litecoin. I use Coinbase and Kraken (links at the bottom).

    https://www.coinbase.com/
    https://www.kraken.com/
     
  34. Guest User

    Guest User Guest

    oh boyo, i do wish i were smart enough for this sort of stuff. i love money.

    really cool to get an update that you're still at it and doing well though. most people i've known who get into this stuff go in with this big plan to get super rich. but when i ask them how it's working out a month later they've forgotten all about it. :D lmao.
     
  35. Neptune

    Neptune Member

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    Smart enough is not even in the question -- a monkey could do day trading "buy low" "sell high". Understanding the entirety of it would take a large amount of dedication and time, but I don't really care; in short, I'm in it for the money lol

    For anyone interested in making a buck, possibly a significant buck, look into Litecoin. The Lightening Network is coming to it (look it up) -- thus, Litecoin could see a significant increase in value (even more than it has in the past few weeks).
     
    Last edited: Sep 12, 2017
  36. JML

    JML Wabbajackalope

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    @Falconsoft-Industries

    [​IMG]

    :D

    seriously though the concept of a blockchain is a sound principle but the way it is implemented right now is not safe because its possible to maintain because as the more money is made, the more incentive their is to break the encryption and the moment that happens the entire economy falls apart.

    the biggest problems, aside from the block chain, is that it consolidates power into early investors, the entire method of mining coins is fundamentally bias towards those who have the resources to crunch data, the fact that in theory one coin could end up being tracked from location to location and there is no effective means to regulate the supply beyond just capping how many can be made.

    and lets not even get started on the accessibility problems.

    the problems are numerous and until they are fixed the fluctuation will be wild and as a result the value can be bolsters to an incredible level, most of the value right now of bitcoin in particular comes from a small handful of people who have bought up the supply and in doing so have taken it out of circulation, if this was not happening the prices you see now would not be where they are and although i do not doubt it will go higher, once the problems start being addressed the bottom will fall out of the market.

    this is all a giant illusion, it is not nearly as secure as has been touted.
     
  37. Neptune

    Neptune Member

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    @JML Thankfully the money in my bank account isnt an illusion :D
    There isnt any risk for the little guy riding the waves from the "whales" you speak of.
     
  38. JML

    JML Wabbajackalope

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    yes there is if the coins you are using have previous, or shortly after you used them, are put to some very unsavory uses.

    there are multiple world governments and central banks breathing down the neck of the crypto system and because the block chain is intact from the very beginning there is a working ledger of every single transaction readily available and being analyzed bit by bit.

    or to follow your analogy, one of these days cthulhu is going to come to eat the whales and if you are in the water the best you can hope for is to be the first to be eaten. best option is to stay out of the water for now.
     
  39. Neptune

    Neptune Member

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    I think you have mining confused with investing in stocks (they are different), and I'm not sure what you mean by 'unsavory uses'.
     
  40. odealo

    odealo Member

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    All currencies except for bitcoin are a gamble.
     
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  41. Jabbers

    Jabbers Member

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    Irresponsible bump. The information in this topic is almost two years old. Anyone reading should disregard the advice given as the crypto world is a totally different beast since 2017.
     

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