BITCOIN
- Thread starter Weather Man
- Start date
I sat through the dump in 2018-2019. Saw Ethereum go from $1,350 down to $80. Yes I could have sold and bought more at the dump - I just did not have a clue which way things were heading just like everyone else. But I am still here and have a very decent portfolio.
It's going to correct along the way. The hodlers are the ones that have been winning longterm. There are many guys that sold thousands of Bitcoin when it hit $100. Every time they did that and bought back in as the price went up they ended up with less and less Bitcoin. I am sure there are some lucky dudes that sold at the top and bought at the bottom. But there are very few I think.
Michael Saylor has admitted that he's terrible with trading and would rather just hold and ride the ups and downs. I am sure he will have to cash out some though.
Two months ago Alex Becker sold Ethereum at $1,800 and bought another digital token that went up 3x-4x. Then he held it too long and now his gains are about 2x. And meanwhile Ethereum has gone up almost 2x since then. So now all he has to show for it is more capital gains taxes. Unless he does not plan on paying taxes until the IRS comes knocking.
Yes that is a huge development. That Binance CEO is a smart mofo. Vitalik though has him beat I think in the retard autistic genius department.
Well I can send you an invite to Pi? I've mentioned it before and gave a little rundown on it, but it is currently not on any market place for purchase as it is in development stages still. It was developed by Stanford grads and has over 10 million users so far but the most unique thing about it right now is that you can mine it on your phone to avoid the major waste and electrical toll normal computer mining takes.
I got my invite from my brother in law and so did the rest of my family so he benefits from having more people under him and I benefit when I get people under me. In about a years time I have been able to accrue about 230 Pi while my brother in law has over 1200 as he has more than 7 people under him and I only have 1 at the moment lol. It's totally set up like a pyramid scheme but there is no money involved in it... yet. Eventually the mining part will go away according to the creators, but in the meantime it is a super easy way to gather up coins of something that will likely end up on the block chain and could see some success, but very well could be a flop too. So it is a bet with no real losses on the user's end unless they end up paying more for their phone bill if they don't have an unlimited data plan as your phone mines for 24hrs once you hit the button each day.
If anyone is interested just PM me if you need an invite or I think there are ways you can get in on your own but I'm not sure.
I put a bit into Safemoon. Mostly because everything I read about in on the Google was to stay away and it will never hit. Just like when I bought into DOGE back in January and now I have a solid 6 figure return lol.
Personally, I don't think DOGE is done hitting. After "The DOGEfather" appears on SNL it might lose some steam.
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we blew the load early boys?
So who's following this thread or Doge but has yet to invest in Crytpo? What are your hesitations? One of my best friends is not into crypto so I gifted him 100 bucks and set up his account and showed him the basics. I told him he didn't have to do anything but I suggest he put in 900 and forget about it. You can lead a horse to water but you can not make them drink. I'd suggest the same for anyone and where as there are many things you could do, not doing anything is the worst. Plenty of killer people to follow on Youtube if you're interested in learning more. If anything, throw a grand into ETH and forget about it. I HIGHLY doubt, you will lose your money. If anyone has any info for someone on the edge...chime in.
It is all about where you are in life and risk management. There is nothing backing the value of crypto other than that there are people willing, right now, to exchange money for it. The Fed has pumped trillions of liquidity into the system. Other countries have pumped trillions.
The point being that no one knows when or who will finally lose confidence and stop buying debt bonds. But when that happens, the value of that countries currency will crater and most likely domino through the system. What is the value of crypto, backed by nothing, worth then?
That said, if I was 30 years younger, I would be riding this crypto pony and trying like hell to find an early warning sign to punch out with my winnings intact. The flip side being that anyone older with more than 2 or 3% of portfolio in crypto is a fool.
The guy who just sold everything and borrowed a good bit to put 180K into Doge Coin became a millionaire in less than 70 days. I don't think age, time or even amount makes anyone a fool in crypto. It's nearly no less a gamble than the US Dollar and as the US Dollar keeps plummeting Crypto is said to get healthier. Just how OLD you really think you are? Giving up the ghost tomorrow? You could make 1000 between now and then. I just paid $2300 for two amplifiers for my Truck and I never dipped into anything other than profits and barely into that. I started with 50 bucks here...50 bucks there. Watched...moved money around, watched videos....listened to some of these guys....moved money around again....and again. My money grew, like most here. We all wish we could put a grand into Bitcoin 8 years ago...think you will live 8 more years? Well?
I think that, by now, anyone that hasn't at least experimented with trading Crypto either lives under a rock or is convinced it is a fad that will go back to zero at any moment taking all their hard earned pennies with it.
There is another group of people that use Crypto to make a quick buck off the volatility of the moves but they don't know or care much about the long term potential. The majority of my friends fall into this group.
There is another group of people that use Crypto to make a quick buck off the volatility of the moves but they don't know or care much about the long term potential. The majority of my friends fall into this group.
i read this as “ it’s okay to lose it all at 40 and not 60”
Spoken like a true young guy which is fine. When you are older and have exactly ONE nest egg and no way to replace it, you look at an investment, BITCOIN and the like, with a jaundiced eye. Many savvy investors think crypto currency is a Ponzi scheme and Ponzi schemes are great until they aren't.
As for where I am, I'm 59 and retired, thanks to some savvy investing when I was younger and a family business that the family hasn't killed yet. I plan to stay retired by managing my money with just enough risk, but not to much.
Guys who have time to earn another nest egg SHOULD have a different risk outlook than someone who can't earn another nest egg. A lot of older guys were in the market back in 2007-8 100% risk on that lost everything. They didn't get to retire, they got to keep on working, horrible place to be having to work.
A vehicle that routinely can move 10% in one day isn't an investment, it's speculation. There is nothing wrong with making all the monies, just be aware of what it is and isn't.
glad you brought this up and i hope you dont mind discussing further. can you briefly summarize staking in as simple description as you can provide (dumb it down for me)? In your opinion, would this be a smarter safer investment if one wants to earn 2, 3,4% on their money (or whatever it earns)? You provide the example of $1 million investment. what returns are you hinting at as far as yield? Is it as simple as going to a broker with your million and getting set up for staking (set if and forget it?)?
You're not that much older than me....and you still have plenty of time to throw pocket change at Crypto. No one is saying throw your life saving into it. I have 48% of my money in Vanguard from the Navy, 48% into Fidelity through Bosch and 4% in Crypto...roughly. Crypto started off as a hobby, only money I could afford to lose. Then it got to a point where it's actually money and it might sting if I lost it all. But the return has been great and I regret not getting into it sooner. Now I throw 25 a week into Eth direct deposit and whatever I care to throw at it when I care to throw at it. Bought another $300 Dodge yesterday for example. I think you are looking at it as if it is some HUGE decision. Open up a Coinbase account and put 100 bucks in and watch it. Add more if you desire. As I said...throw $1000 and forget about it, even if it takes you a year to do it. Coinbase isn't the best but I feel its one of the easiest and if your not moving it around buying and selling constantly just as good as any of the rest. Have kids? Grandkids? Open up an account for them with 100 bucks and forget about it. Imagine what it COULD BE when they turn 18. You want to do it, or you wouldn't be in this thread....do it...$50 bucks into ETH. Pop That Cherry
So..
ETC blew the mother **** up
ETC blew the mother **** up
You're not that much older than me....and you still have plenty of time to throw pocket change at Crypto. No one is saying throw your life saving into it. I have 48% of my money in Vanguard from the Navy, 48% into Fidelity through Bosch and 4% in Crypto...roughly. Crypto started off as a hobby, only money I could afford to lose. Then it got to a point where it's actually money and it might sting if I lost it all. But the return has been great and I regret not getting into it sooner. Now I throw 25 a week into Eth direct deposit and whatever I care to throw at it when I care to throw at it. Bought another $300 Dodge yesterday for example. I think you are looking at it as if it is some HUGE decision. Open up a Coinbase account and put 100 bucks in and watch it. Add more if you desire. As I said...throw $1000 and forget about it, even if it takes you a year to do it. Coinbase isn't the best but I feel its one of the easiest and if your not moving it around buying and selling constantly just as good as any of the rest. Have kids? Grandkids? Open up an account for them with 100 bucks and forget about it. Imagine what it COULD BE when they turn 18. You want to do it, or you wouldn't be in this thread....do it...$50 bucks into ETH. Pop That Cherry
Go back to page 1. He started this thread with negativity and it kind of morphed into the productive chat it is now. So I don't see him in here as him wanting to get into Crypto, more like checking in on the thread he started and waiting to be able to say "Told you so."
That's just my opinion though.
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