crypto currency

[myrdale]

Here is an article on it:

https://www.cnbc.com/2022/05/12/cryptocurrency-luna-now-almost-worthless-after-ust-falls-below-peg.html

From what I gather, other "stable coins" are backed by bonds or cash. Think gold standard. The company that created Terra backs the coin with Bitcoin. They create and destroy Terra in a way to maintain the price at $1. When the price of Bitcoin dropped, so did the backing of the coin.

[DanBond]

If anyone is still interested in cryptos in 2023, I would suggest you be careful. It's still a cool way to make money but they are too volatile nowadays and it's easy to lose a lot of money trying to invest in cryptos. If you're interested in getting started, I recommend doing your research on different cryptocurrencies and their respective technologies, as well as looking into reputable exchanges for buying and selling. You may also want to consider investing in a hardware wallet for added security. You can get more info about crypto from related articles. I'm sure that cryptocurrencies can provide significant returns for those who invest wisely.

[QuarterMillionMan]

Cryptos have been moving higher as well for some unknown reason.

[LivingAlmostLarge]

How is btc coin so high?

[myrdale]

How is btc coin so high?

My guess is it is being driven by the issues with Silicon Valley Bank.

[QuarterMillionMan]

With cryptos rising my interest has piqued again. These are my accts; Coinbase $6500, Ledger $16,000, Coinbase wallet $1500, Robinhood $3000, Trade Station $4000 (Roth IRA). Majority of my holdings is in bitcoin but I have ethirium, solana, lite coin, etc.

[QuarterMillionMan]

FYI, this is Ledger's fee to buy cryptos with either your bank (shorter list) or credit card (longer list). Also, when transferring between accounts similar fees. I transferred $1000 at a time from Coinbase ($3 fee) to Ledger ($25 fee). Based on $1000 purchases.

[QuarterMillionMan]

This morning my Ledger balance was $16,800. At 6:12 pm today $18,000. But never know tomorrow morning could go back down $1200 or more. Huge swings.

[QuarterMillionMan]

Same day at 7:32 pm.

[LivingAlmostLarge]

oh crypto is coming back?

[james.hendrickson]

oh crypto is coming back?

Probably not. These assets are super, super out of favor.

[QuarterMillionMan]

Ha-ha, James why so negative (lol)? Cryptos are here to stay. Governments know this and are trying hard to embrace it and regulate it.

[QuarterMillionMan]

Still climbing.

[james.hendrickson]

Still climbing.

Its amazing to me how the cryptmarkets behave....I used to think they operated like stock, but that seems increasingly less the case.

[crazyliblady]

Still climbing.

My question is about bitcoin and whether it is FDIC and NCUA insured. My instinct says that no it is not. So, what is your security if bitcoin goes bust?