Need some Ozbargain expertise here. I was talking with my co worker about crypto currency this morning and was informed about Ethereum which I have no idea about. Later made my research and found that Investing in Ethereum is good. But the forums were soo confusing coz some say they are volatile and some say they are good in the long run. I have made my mind to invest in crypto currency but before that I want to make sure from my fellow Ozbargainers that investing in crypto currency is not a bad idea. Guide me guys, thanks.
Namastey _/_
Investing in Ethereum Any Good? Guide me!
Asuran on 15/11/2017 - 21:54
Comments
I invest in traditional ASX/international stocks and I have gambled on bitcoin, ethereum and a few ICOs- again, the gambles are no more than I'd want to lose.
Couldn't have said it better. Operative words highlighted for you OP.
wake up and smell the tulips.
That’s a real good line!
The tulip comparison doesn't really apply. While crypto is in a very early-stage bubble right now (IMO), unlike tulips, crypto will take off in a very big way. Unlike tulips crypto has a functional purpose and real value other than just looking nice and with major banks working frantically on their own blockchain technologies it is here to stay. From what I can see it has way more intrinsic value than our current 'paper' money which is also backed by nothing but is hugely inflated as well. Anyway as I said it's still very early days for crypto so I do expect a big pullback at some stage (time to buy) followed by a huge leap forward. ETH would be a good one to get but as torom said, do not invest anything you are not prepared to lose. That goes for pretty much ALL investments though.
That’s very convincing! Thanks @tororm
The smart money is in pork bellies, invest in pork bellies!
This year, I invested in pumpkins. They've been going up the whole month of October and I got a feeling they're going to peak right around January. Then, bang! That's when I'll cash in.
Some people think existing, albeit expensive quantum computers are starting to pose a risk, some others think it's decades off. One thing we know is just about every bright student in Caltech and MIT is dreaming of the 'what if' and will have access to some serious hardware. I'd give cryptocurrencies a Dick Smith giftcard out of 10 for long term relaxation factor.
Cannot like the above enough, and I must add the op sounds as ready as an Optus sim card to invest their hard earned.
Quantum computers are a long way away if at all. And if someone can use one to 'decrypt' a blockchain then someone else can use one to keep a blockchain safe. I don't see it happening.
Temporal Defense Systems bought a D-Wave 2000Q in January. Qubit count seems to be doubling every year. It's fair enough for anyone to speculate how much impact they have or will, but the existence of them is incontrovertible.
Interesting times, looking at that thing reminded me of the old huge computers from the 60's that filled up a room and had exponentially less power than a modern smart watch. :) Thanks for the info, I wasn't aware of how far along they were. :)
Should’ve invested in April when it was $90, rather than $340.
You’re late to the party
yep, he was late
Too late to invest now. It's just the smart money selling to the fools now
lol
I have ETH, long story short: Only invest what you're willing to lose.
Crypto is so volatile, you really don't know what's going to happen. One week it's -30% the next month it's at its all-time high.
Long term wise, bitcoin and eth are doing well but you gotta get in early and even then you don't know if you're gambling your money away
Should’ve invested in April when it was $90, rather than $340.
You’re late to the partyThe party is just getting started.
https://files.ozbargain.com.au/upload/393946/92181/screensho…
Dont "invest" any more than you're happy to lose. Nobody can say what will happen and crypto markets are still new (especially when compared to existing markets).
I invest in traditional ASX/international stocks and I have gambled on bitcoin, ethereum and a few ICOs- again, the gambles are no more than I'd want to lose.
Good luck!