LITECOIN ( LTC) is rising like a beast. 62.00 3 weeks ago, to 86.00 as I type this.

southerntide wrote:

Scorpion_Runner:

I have some extra cash and want to jump in on this. What's the fastest and safest way to purchase: Coinbase or Gemini?

I'm in the US, and I plan to transfer money from my bank account.

Thanks for the advice...wish I had gotten in earlier.

I'm not familiar with Gemini. I'm only familiar with Coinbase ( they use their GDAX exchange), and Binance( for ATLS.), so I would suggest that you use coinbase

If you use your bank account, it's going to take up to three days for them to verify your account, so you will not be able to

buy coins immediately. However, you can submit a credit card, allowing you to buy instantly. The fees will be slightly higher, but at least you will be able to get in on current prices.

The price is at 373.00. It's fluctuating today between 350.00- 370.00, try to catch it somewhere in there, and if it starts to move up towards 380.00 definitely buy before it floors at 400.00. I'm hoping it dips to a little under 350.00, or even lower.

Now keep in mind, this coin could very well drop to 200.00 over night, so don't freak out. It's all about holding your investment. This coin took a dive before around when it was like 30 or 40.00. People freaked out and dumped their coins. They did it a week ago when the coin went down to 97.00, look at where it is now. Coins DIP. That is what they do, so you want to buy when they DIP or when they are low.

Litecoin is just a faster Bitcoin. They have nothing backing them. They are like the paper you print money on and I really do mean the paper because the currency itself is not backed by anything of value like gold or silver. At least with Ethereum you have a platform that can behave like an equity and give backed value to the currency. Litecoin and Bitcoin are pure speculation. It's artificial demand for a scarce resource with no practical applications. I can understand investing in Ethereum where it might get used in apps, banks, or companies and holds some value.

You're working really hard to push your investment.

Shoebacca wrote:

Litecoin is just a faster Bitcoin. They have nothing backing them. They are like the paper you print money on and I really do mean the paper because the currency itself is not backed by anything of value like gold or silver. At least with Ethereum you have a platform that can behave like an equity and give backed value to the currency. Litecoin and Bitcoin are pure speculation. It's artificial demand for a scarce resource with no practical applications. I can understand investing in Ethereum where it might get used in apps, banks, or companies and holds some value.

You're working really hard to push your investment.

They do have something backing them. It's called DATA, and data is now an asset like oil. It has always been there, but throughout most of the internet we were just focused on sharing data( email, text messaging, websites, media, etc). Now the focus is on using data as value.

And it is not about the coin. It is about the network. A coin can break off into another coin, so it is not limited to itself. Now you have people moving over from bitcoin to litecoin, and some are moving on to Ethereum. And as much as love Litecoin, I think IOTA is going to be the ultimate currency coin once the TANGLE network is in production. It's technology is mind blowing, and even greater than Ethereum, but Ethereum is good as well.

And this is not about pushing an investment. This is about pushing decentralization, and the more it is populated the more it will grow. If you are for the growth of decentralization and the independence of value and assets, then we are on the same team. It's about spreading information so eventual everyone will be in control of their value and know how to use it.

Is it a sign that the crypto currency fad has popped a bubble when a running site is discussing it?

scam_watcheroo wrote:

Is it a sign that the crypto currency fad has popped a bubble when a running site is discussing it?

What type of question is that? It makes no sense, as if things are supposed to be talked about in one certain place. This is general discussion. Running is something that we DO, and we all have to make a living and survive. This is no different. Information being passed around.

There are always people on her putting up information about the stock market. This is no different. You guys are overthinking this stuff.

Every market experiences a bubble, drought, collapse, etc . That is what markets do. Housing bubble, internet bubble, etc. But those markets did not disappear, and are even stronger in this day.

THIS IS NOT ABOUT GETTING RICH OR I FOUND GOLD! This is about recognizing a new market, and that market shifting our way of living, just like radio created a shift, TV created a shift, and computers created a shift, and the internet created a shift, etc, etc.

Say the value goes up a lot and you sell, is there any tracking to how much you gained?

How does the IRS deal with gains? Is there any record keeping?

I assume a sell would be like you bought a painting and sold it for more.

What prevents someone using this type technology and use shares of say Amazon or other stock?

If it can be used for shares of companies where there is a real asset backing up the value, won't that cause something like Bitcoin or other coins to lose a lot of their value? I am not saying it would go to zero but it won't be anywhere near what it would be today. Am I missing something?

scam_watcheroo wrote:

Is it a sign that the crypto currency fad has popped a bubble when a running site is discussing it?

Yes. And when people like the above poster turn to a running forum for financial analysis and advice .

Not looking for financial investment advice. i am not going to invest in bitcoin or other like instruments.

I don't understand them well enough.

I was just curious how taxes work with it and other things. It seems like if a real asset like a stock (if it is possible) could be held in the same way that values wouldn't be based almost entirely on speculation.