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So, Who Is Buying Into Crypto?

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Manny:
Is there space in the market for more than one? Or will it become like a Betamax/VHS thing?

Is one able to turn them into ready cash immediately?


--- Quote from: Markje on September 22, 2017, 03:51:07 AM ---I sure as hell wish I'd bought bitcoin when it was still $80 per coin, or even 500 per coin.

It sits over 3000 now.

I know lots of IT-guys already got their pension secured because of BTC trading.


--- End quote ---

I read about a bloke the other day who dobbed something like £500 in Bitcoin early and recently withdrew and just bought a big house in Essex with it. I dont recall where I read it, maybe Twitter, and it was part of a longer conversation. But with what you posted it sounds plausible.

andrewfi:
People who got in early and stayed can now be very wealthy.

There are differences between the currencies that optimize them for different purposes. All, as far as I am aware, have a hard limit on the number of coins that can be created. Assuming that trading volume increases it is thus axiomatic that the value of each coin will rise.

Turning the market leaders into cash is instant, very liquid. That's a major benefit of them.

Markje:

--- Quote from: Manny on September 23, 2017, 10:16:26 AM ---Is there space in the market for more than one? Or will it become like a Betamax/VHS thing?

--- End quote ---
I think Bitcoin and Ethereum are in there for the long run.

Bitcoin : Most well-known currency.
Ethereum: 2nd well known & Because bitcoin has a black-market / illegal trading & "banking" (mt. Gox) scandals attached to it.

The others i suspect to fade away as 'obscure' and nobody uses it.

andrewfi:
It has taken a week but all my buys are now in profit. Only a little, but still, even if I were to sell right now, even allowing for costs, I'd be much, much, better off than leaving the money in the bank.

Let's hope that we're off to the races. :)

Slumba:
A few sites I like to use:

https://coinmarketcap.com/

coinwarz.com

Most crypto-coins have a Reddit.com site, e.g. reddit.com/r/monero for the Monero coin.  A good way to get the feel of a community.

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