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Originally Posted by NurseTim
Has anyone ever heard of GSX cryptocurrency? It’s supposed to be backed by by real gold.
My wife is interested in it. We are not very tech savvy and I don’t have my nose buried in my phone 24/7.
We dipped our toe into cryptocurrency back when bitcoin hit 20K. It wasn’t bitcoin that we bought, it was some other kind and after we bought, a month or two later it went tits up. The guy that turned us on to it tried to tell us there was something wrong but we didn’t understand or didn’t react quickly enough. We lost the investment.
Now my wife wants us to invest. But I am very hesitant, my gut tells me cryptocurrency is a scam. At least with real currency, there is something tangible, albeit worthless. With cryptocurrency, there is nothing tangible. It is like our bank accounts, just “1’s” and “0’s” arranged in a certain way to represent value, nothing tangible.
Any help would be appreciated
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I personally stay away from the crypto primarily because of the reasons others have stated above and also due to the fact that the tax implications of buying/selling it haven't really been worked out that I'm aware of. That being said, I have traded options in tickers related to BTC mining ops e.g., MARA, RIOT with success. GL out there.
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"Greater love hath no man than this, that a man lay down his life for his friends", John 15:1.
“He should have armed himself if he’s gonna decorate his saloon with my friend”, Clint Eastwood, The Unforgiven.
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