Bitcoin.
Who would have thought that Bitcoin and other cryptocurrencies would rise to current levels.
From being “funny” or “monopoly money,” to sought-after, unregulated currency, Bitcoin spawned a market that embraces both lawful and unlawful activities.
Volatility in cryptocurrencies arrives with the territory, and BTC trades below $1,900 dollars currently, according to RealTimeBitcoin.
BTC is also not simply an issued currency, it follows a strict set of mining rules, and it’s currently being tested due to those rules, dropping in value almost $700 dollars in just three days.
While some domain investors declared their support of BTC and Ethereum, they observe the primary rule of investing: Never invest money you cannot afford to lose.
With that in mind, cryptocurrencies don’t seem to be in a better position than domain names, which retain value long term.
For example, despite fluctuations that occur over time, the value of LLL .com domains isn’t going to drop to e.g. $1,000 dollars overnight.
The cryptocurrency market is unregulated, just like the old Wild West: there are lots of money to be made, and fortunes to be lost at the same time.
Invest your money wisely.
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The smart thing to do is ‘dollar cost average’ a fixed USD amount per week or month into cryptocurrencies, buying more units when crypto prices are low and buying fewer units when crypto prices are high.
Well I made $2,700,000 in BTC in the last 2 years, and made just 150K in domaining during that time. I just paid for all 4 of my kids college education off BTC I sold. And I have another 1500 BTC that I am holding on to based on today’s value of around 2.8 Million, but holding after to see what develops after BTC fork on August 1st.
Blockchain is a new technology which will effect and revolutionize many industries in the future. While it’s still in its early phase, I think cryptocurrency, just like domain, should be perceived as a long term investment.
Good advice @Logan Flatt.
I love your last interview in Domain Sherpa. It’s very inspiring.
Hello from Indonesia.
My butler invests in spinners
Larry Bush – Yes, and I’m the Pope. Nicely played.
@DomainGang, you sound jealous:-) Don’t worry crypto just starting you just need to pick the right one.
Larry Bush – Why would I be jealous? I made $65 million with BTC last year and $28.79 million with domains. My grand kids are set for life.
@domaingang, congrats, and since you posted BTC up almost $200, your good Karma(lol)
Larry Bush – I’d rather invest in pizza dough.
@DomainGang, since your post BTC going up over $400. Please post again why BTC is crap(lol)
Larry Bush – I am Satoshi the founder of Bitcoin.
Please stop writing BS on the comments section. Thanks.
@lol, just wanted to thank @domaingang for good karma now for BTC going up $700 since he posted this. Have a great summer my friends!
Larry Bush – Any time, good luck on the way down.
Thank you @DomainGang, I will keep that in mind if BTC goes below my cost average of $148 entry point:-) And good luck to you as well with your domain sales my friend:-) Love your blog!
Larry Bush – As an early adopter, your risk was minimal. Don’t try to sell “wisdom” to latecomers. That’s the problem with every market, but especially with unregulated cryptocurrencies.