You only lose money if you sell

[jethreauxdawg]

Or the crypto exchange takes your “money” and closes up shop. Dorn referenced this earlier. Let’s try to not get this one locked. Bitcoin and other cryptos are plummeting. I don’t know much about the process, but apparently one of the large crypto marketplaces just said “no” to people who tried to withdraw the money they had deposited. This exchange had been paying people 19% returns in exchange for people storing their Crypto in that exchange. Sounds like everyone tried to get out of the Ponzi scheme at one time and their was no money left. Of course, I’m shocked to find out that an account giving 19% returns wasn’t legit. Crazy thing, 19% is one the lower end of what some crypto exchanges were “paying”. Hope you crypto boys already got out and converted to real assets.

 

[57stratdawg]

 

[HamSammich]

So I shouldn’t have just purchased the $10,000 of shibu inu?

Just my luck

 

[aTotal360]

I'm on LUNA. Looks hot.

 

[Uncle Ruckus]

My $200 investment of Shiba Inu was nearly $50k this fall. A friend of mine put $200 in about a month before I did a year and a half ago, and cashed out over $100k in the spring or summer of ‘21. I regret not pulling the trigger.

 

[HamSammich]

I was being funny. I only have $200 as well.

 

[Madison Swinger]

My $200 investment of Shiba Inu was nearly $50k this fall. A friend of mine put $200 in about a month before I did a year and a half ago, and cashed out over $100k in the spring or summer of ‘21. I regret not pulling the trigger.

gonna call ******** on that one there, jimmy

 

[BoomBoom.sixpack]

Or the crypto exchange takes your “money” and closes up shop. Dorn referenced this earlier. Let’s try to not get this one locked. Bitcoin and other cryptos are plummeting. I don’t know much about the process, but apparently one of the large crypto marketplaces just said “no” to people who tried to withdraw the money they had deposited. This exchange had been paying people 19% returns in exchange for people storing their Crypto in that exchange. Sounds like everyone tried to get out of the Ponzi scheme at one time and their was no money left. Of course, I’m shocked to find out that an account giving 19% returns wasn’t legit. Crazy thing, 19% is one the lower end of what some crypto exchanges were “paying”. Hope you crypto boys already got out and converted to real assets.

Funny how eerily similar it is to 19th/early 20th century banks. People who don't learn from history are doomed to repeat it, and all that.

 

[Nicephorus]

Or the crypto exchange takes your “money” and closes up shop. Dorn referenced this earlier. Let’s try to not get this one locked. Bitcoin and other cryptos are plummeting. I don’t know much about the process, but apparently one of the large crypto marketplaces just said “no” to people who tried to withdraw the money they had deposited. This exchange had been paying people 19% returns in exchange for people storing their Crypto in that exchange. Sounds like everyone tried to get out of the Ponzi scheme at one time and their was no money left. Of course, I’m shocked to find out that an account giving 19% returns wasn’t legit. Crazy thing, 19% is one the lower end of what some crypto exchanges were “paying”. Hope you crypto boys already got out and converted to real assets.

The risk/reward of these centralized custodial crypto banks never made sense to me. Lot of risk for a 6-10% interest payment. Luna/UST also in the same boat as it had clear design flaws with risks that far outweighed the 20% interest you were getting. If I’m investing in a ponzi, it better be a decentralized, transparent one with a 4 digit+ APY for me to take on that risk. Then everyone can make their own judgement with publicly available information when it’s going to collapse

 

[dorndawg]

Or the crypto exchange takes your “money” and closes up shop. Dorn referenced this earlier. Let’s try to not get this one locked. Bitcoin and other cryptos are plummeting. I don’t know much about the process, but apparently one of the large crypto marketplaces just said “no” to people who tried to withdraw the money they had deposited. This exchange had been paying people 19% returns in exchange for people storing their Crypto in that exchange. Sounds like everyone tried to get out of the Ponzi scheme at one time and their was no money left. Of course, I’m shocked to find out that an account giving 19% returns wasn’t legit. Crazy thing, 19% is one the lower end of what some crypto exchanges were “paying”. Hope you crypto boys already got out and converted to real assets.

In all fairness, shutting down the markets is the right call - it gives them time to get organized crime their money first. I wouldn't want to get murdered either.

 

[horshack.sixpack]

Time for you to hop on my latest creation: Kittycoin

 

[mstateglfr]

Crypto makes no sense. What is really logical is buying NFTs of **** you dont understand and nobody else wants, then pushing for others to want them based on FOMO. THAT is the future!***




Maybe crypto bounces back because people trust intangibles more than tangibles at this point in time, I dont know.
Maybe crypto plunges to where it rightfully should be, I dont know.
Maybe NFTs really do become something not totally stupid, I dont know.
Maybe I will continue to sip some iced tea and watch what happens with curiosity and confusion, yeah I do know.

 

[Uncle Ruckus]

Go look up the price of shiba inu in March of 2020 and see what a $200 purchase would have been worth on its peak. It’s typically not smart to comment on things you don’t know **** about.

 

[Dawg_4_lifes]

I'm probably just gonna die broke.

 

[GloryDawg]

I'm probably just gonna die broke.

Always keep a penny in your pocket. Then you will never die broke.

 

[JackShephard]

Or the crypto exchange takes your “money” and closes up shop. Dorn referenced this earlier. Let’s try to not get this one locked. Bitcoin and other cryptos are plummeting. I don’t know much about the process, but apparently one of the large crypto marketplaces just said “no” to people who tried to withdraw the money they had deposited. This exchange had been paying people 19% returns in exchange for people storing their Crypto in that exchange. Sounds like everyone tried to get out of the Ponzi scheme at one time and their was no money left. Of course, I’m shocked to find out that an account giving 19% returns wasn’t legit. Crazy thing, 19% is one the lower end of what some crypto exchanges were “paying”. Hope you crypto boys already got out and converted to real assets.

I'm definitely not a "crypto boy", but I do like to try to make money. I view cryptos just like stocks. Try to buy low and sell high. I don't buy into the whole "financial freedom" and "decentralized" stuff. I just try to make real money off cryptos. And yes, I did get out a while back. I was way up (for me) for a long time, took some profits, then watched it sink. I sold out at an overall profit, but not nearly as much as I could have had I gotten out earlier. It's definitely risky, but the rewards can be quite high if you can time things right. You have to watch taxes though - they track every stinking trade and I was making tons of small trades every day. I won't do that again.

The thing is, there is a very profitable entry point coming soon. Heck, it could be today. It's making me itch to buy back in, but it's just like the stock markets. You're always wondering just how low it can go - you don't want to get in too soon. However, unlike the stock market, "zero" is a legitimate answer to "how low can it (the entire market) go?".

 

[dorndawg]

Go look up the price of shiba inu in March of 2020 and see what a $200 purchase would have been worth on its peak. It’s typically not smart to comment on things you don’t know **** about.

Sir, this is sixpackspeak.com

 

[patdog]

You did pretty good then. Crypto trades aren't reported to the IRS like stock trades are. It's all self-reporting. That said, I definitely advise you report all your crypto trades. If you ever get audited and you hid some crypto gains, I fully expect they will come with everything they've got, including potential criminal tax evasion penalties.

 

[birdawg]

Buddy of mine put $500 in Solana when it was $2. Within a few months it went to $265 and I was telling him to sell but he didn't. Currently trading at $29.

 

[GloryDawg]

Buddy of mine put $500 in Solana when it was $2. Within a few months it went to $265 and I was telling him to sell but he didn't. Currently trading at $29.

Still making money.

 

[KeyserSoze1999]

Keyser turned his modest crypto into shiny AU and AG money (that the US Constitution recognizes a true MONEY)...I'm smiling.

View attachment 24598View attachment 24599View attachment 24600

 

[jethreauxdawg]

Where did you buy AU and AG bullion? Do you keep it in a safety deposit box at a bank?

 

[mcdawg22]

Keyser turned his modest crypto into shiny AU and AG money (that the US Constitution recognizes a true MONEY)...I'm smiling.

View attachment 24598View attachment 24599View attachment 24600

Ummmm for some reason the dollar is still strong. Everyday that dyx climbs and bullion drops.

 

[KeyserSoze1999]

Bought from multiple places - 2 good coin shops here in Fort Walton, apmex.com (American Precious Metals Exchange), JMBullion.com, SDbullion.com...the online sites have sales on Mondays / shop around and find the best deal.

Stored in my gun safe - not a safe deposit box.

 

[jethreauxdawg]

Serious question

Bought from multiple places - 2 good coin shops here in Fort Walton, apmex.com (American Precious Metals Exchange), JMBullion.com, SDbullion.com...the online sites have sales on Mondays / shop around and find the best deal.

Stored in my gun safe - not a safe deposit box.

How do you know what you are buying is legit? I like the idea of owning some bullion, but someone could probably polish some stainless and I couldn’t tell the difference between it and silver. Also, how do you plan to sell it if you need to in the future?

 

[dawgman42]

Best advice from a rollerblader EVA!

 

[GloryDawg]

You did pretty good then. Crypto trades aren't reported to the IRS like stock trades are. It's all self-reporting. That said, I definitely advise you report all your crypto trades. If you ever get audited and you hid some crypto gains, I fully expect they will come with everything they've got, including potential criminal tax evasion penalties.

How do they transfer money when you buy and sell?

 

[KeyserSoze1999]

Good questions. Typically I try to buy Sunshine Mint bars and rounds...they have micro laser engraved security design on the back side that when viewed through their magnifying lens which you can also buy, the word "VALID" is visible. I also love Canadian Mint coins and British Royal Mint coins both have lots of security / anti counterfeit features.

But there are some simple tricks to test to see if Silver is real.
1.) MAGNET TEST - A magnet will NOT stick to Silver or Gold...neither are magnet.
2.) SMELL TEST - Real Silver has no smell, it is actually antimicrobial---used today in water filters---in old
Wild West times pioneers would put a Silver Dollar in bottles of milk and the milk wouldn't spoil as fast.
3.) ICE CUBE TEST - Now you will need one piece of regular non-precious metal, then your test Silver, and 2
ice cubes. Put an ice cube on the Silver and an ice cube on the regular non precious metal. The
ice cube on the Silver will melt faster than the regular metal---this will happen because real Silver
is the best conductor of heat & electricity (even better than Copper)---this is why so much Silver
is used in solar panels and other electronics like computers and Tesla vehicles.

 

[KeyserSoze1999]

Sorry for double post answering.
In response to who I will sell my precious metals to in the future. I first need to say do NOT expect to buy precious metals and then sell them 2 years later and become filthy rich---it is not a get-rich-quick endeavor...it is like an Insurance or preservation of "Buying Power". This is why the old saying is "Gold is the money or Royals, Silver is the money of Gentlemen, Barter & Trade is the currency of the Lower Classes, and Debt is the currency of Slaves." I bought the majority of my Silver when the price for it was $11 per ounce to $18 per ounce (in 2017 in President Trump's tweet he remarked that the price of Silver was &16.50 per ounce) so today's Siler price of around $22 per ounce is profitable but I am not selling currently.

When I do sell it will likely be to my local coin shops (guys I trust) or I can even sell back to the online sites JMbullion.com, SDbulluion.com, and APMEX.com --- they offer to buy back Silver at Spot Price (right now around $22 per ounce). Now this Spot Price is lower than Premium Price (meaning if I buy Silver now I will pay the Premium Price around $28 per ounce, yet the Spot Price is at $22.03 per ounce.View attachment 24607

 

[acerlily11]

Serious question



How do you know what you are buying is legit? I like the idea of owning some bullion, but someone could probably polish some stainless and I couldn’t tell the difference between it and silver. Also, how do you plan to sell it if you need to in the future?

It's always important to do your due diligence when it comes to buying precious metals, such as silver bullion. One of the best ways to ensure that you are buying legitimate bullion is to purchase it from a reputable dealer. Look for dealers who are members of recognized industry organizations and have a long history of selling bullion.

Additionally, it's important to educate yourself on the characteristics of the metal you are buying. You can research the weight, size, and purity of silver bullion online or in reference materials to help you identify whether the item you're considering purchasing is legitimate.

When it comes to selling your bullion in the future, there are a few options available. You can sell your bullion back to the dealer you purchased it from, or you can use a reputable online bullion marketplace to sell it. Just like buying bullion, it's important to do your research and select a trustworthy buyer. Keep in mind that the value of your bullion may fluctuate depending on market conditions, so be prepared to potentially sell it for less than what you originally paid for it.

Overall, investing in silver bullion can be a smart financial decision, but it's important to take the necessary precautions to ensure that you are buying legitimate bullion and working with trustworthy buyers when it comes time to sell.

 

[BulldogBlitz]

You only lose money by marrying the wild chick.

 

[Seinfeld]

Crypto makes no sense. What is really logical is buying NFTs of **** you dont understand and nobody else wants, then pushing for others to want them based on FOMO. THAT is the future!***




Maybe crypto bounces back because people trust intangibles more than tangibles at this point in time, I dont know.
Maybe crypto plunges to where it rightfully should be, I dont know.
Maybe NFTs really do become something not totally stupid, I dont know.
Maybe I will continue to sip some iced tea and watch what happens with curiosity and confusion, yeah I do know.

I’ve got mixed feelings on this front. With crypto, I’m 100% with you. It never made sense to me, I had no idea how it somehow had monetary value no matter how many times it was explained, and I fully believe that any money that anyone actually made off of it was entirely tied to FOMO.

NFTs on the other hand can actually have value. Just throwing a couple examples out there, but thanks to a set of Top Shot NBA moments that I’ve held for the last year, my wife and I were able to get floor seats and lounge access to the Grizz MLK game this year, and we had a helluva time. Ate nachos 10 ft away from ZBo.

Then if you’re in to any kind of sports fantasy stuff like draft kings or March madness, NFTs allow you to play in a lot of these contests, earning $, tickets, or merch. I fully get that they’re not for everyone, and that’s fine, but crypto and NFTs are two entirely different ballgames to me.

 

[thatsbaseball]

I can't believe my "adviser" didn't get me into crypto but I feel sure he'll make it up later **

 

[AstroDog]

Don't do Crypto and never will. Fraught with too many traps and unknowns.

 

[Dawgbite]

You only lose money by marrying a woman.

FIFY! Rent never buy.

 

[OG Goat Holder]

delete

 

[OG Goat Holder]

I’ve got mixed feelings on this front. With crypto, I’m 100% with you. It never made sense to me, I had no idea how it somehow had monetary value no matter how many times it was explained, and I fully believe that any money that anyone actually made off of it was entirely tied to FOMO.

NFTs on the other hand can actually have value. Just throwing a couple examples out there, but thanks to a set of Top Shot NBA moments that I’ve held for the last year, my wife and I were able to get floor seats and lounge access to the Grizz MLK game this year, and we had a helluva time. Ate nachos 10 ft away from ZBo.

Then if you’re in to any kind of sports fantasy stuff like draft kings or March madness, NFTs allow you to play in a lot of these contests, earning $, tickets, or merch. I fully get that they’re not for everyone, and that’s fine, but crypto and NFTs are two entirely different ballgames to me.

View attachment 317242View attachment 317244View attachment 317245View attachment 317246

year old thread

 

[FQDawg]

One of my friends has a great description for crypto... "what if we create a bank but without any of the regulations or oversight that keep banks safe."

 

[mstateglfr]

It's always important to do your due diligence when it comes to buying precious metals, such as silver bullion. One of the best ways to ensure that you are buying legitimate bullion is to purchase it from a reputable dealer. Look for dealers who are members of recognized industry organizations and have a long history of selling bullion.

Additionally, it's important to educate yourself on the characteristics of the metal you are buying. You can research the weight, size, and purity of silver bullion online or in reference materials to help you identify whether the item you're considering purchasing is legitimate.

When it comes to selling your bullion in the future, there are a few options available. You can sell your bullion back to the dealer you purchased it from, or you can use a reputable online bullion marketplace to sell it. Just like buying bullion, it's important to do your research and select a trustworthy buyer. Keep in mind that the value of your bullion may fluctuate depending on market conditions, so be prepared to potentially sell it for less than what you originally paid for it.

Overall, investing in silver bullion can be a smart financial decision, but it's important to take the necessary precautions to ensure that you are buying legitimate bullion and working with trustworthy buyers when it comes time to sell.

bad bot!

 

[paindonthurt]

FIFY! Rent never buy.

Cheaper and less headache changing models