GutterBoy 2,281 Posted May 13, 2021 24 minutes ago, vuduchile said: Not really looking for magic investment advice. Just discussion. The wild swings make me fell uneasy about crypto as a whole. That's probably because I lost out during the dot.com housing bubbles. The HR company I worked for (Kenexa) during the dot.com bubble had secured First Boston to underwrite our IPO just before it popped. We all had stock options that were going to make us wealthy. The IPO was aborted, and the options were worthless. Most of our clients were in the tech sector too, so it was only a matter of time before half of us were shown the door. During the housing bubble, I worked for Home Depot and had survived 5 management restructures. I did not survive the 6th. HD stock had split many times and turned some cashiers into millionaires, but I wasn't one of them. I joined the company near it's peak and while I had options, many were underwater when I was laid off. It seems like those of us that have lived through several of these bubbles and experienced the downside are able to recognize this current one as well. As for the rest, well they'll learn. 1 Share this post Link to post Share on other sites
edjr 5,600 Posted May 13, 2021 3 minutes ago, GutterBoy said: It seems like those of us that have lived through several of these bubbles and experienced the downside are able to recognize this current one as well. As for the rest, well they'll learn. Now can the housing bubble please explode please? pretty please 1 Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 13, 2021 1 minute ago, GutterBoy said: It seems like those of us that have lived through several of these bubbles and experienced the downside are able to recognize this current one as well. As for the rest, well they'll learn. I went through Dot com and the 2008 bubble. We bought a house just as things began to turn and it was really hard to push through the financing. We did it just in time before everything went to sh1t. The house we bought lost 80k in value in what seemed overnight. But you know what? I didn't look at my house as an investment. It's my home and I decided we would buy a house we could grow in. 13 years later we sold at a nice profit. What I'm saying is all those bubbles pop and it's really bad short term. For someone like me who just holds It's not that big of a deal. I just continue to dollar cost average, because I know there's no timing the market. Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 13, 2021 20 minutes ago, Cdub100 said: I'm not a finical advisor even though I play one on the geek club. So nothing I saw should be taken as such. I am sharing my experiences and knowledge. Your history explains a lot about your trepidation. For me, it's been a long slow climb. People will say oh you're so lucky when it has nothing to do with it. It's about taking calculated risks and looking at long-term goals. I had this conversation with my buddy last night. He told me I should my stake and pay off my house and cars. I said no, a person doesn't get rich selling their appreciating assets. I believe in my crypto holdings. I am backing good projects with great teams behind them. I don't back get rich quick meme coins or other garbage. Not all my picks have been winners but most have. If this is going where I think it's going I hope to retire in 5 years. And if it all goes to zero nothing about my life changes. I am curious what is your investing strategy? More conservative leaning I guess, but I'm older. I want to semi-retire in 5 years at age 62. My wife is 9 yrs younger and she'll work another 9 years and retire at 62. We have some real estate, plus our home, my wife's 401K, and are invested in a couple ETF's. Aside from that, we have the 2 businesses. The goal is to sell the flooring biz, and all real estate in 5 years. Downsize to a small ranch home, move 100% ownership of the card shop to my wife, while I take early retirement. She would keep on working primarily for the health care benefits plus the 401K company match. She's maxing out now and will continue that until she retires. I would also help her run her card shop. I am considering selling off the card shop sooner if it makes sense. I've been talking to other folks in the market and some feel like the Panini Direct account with our current allocations could be worth $1M, so that has to be taken seriously. Share this post Link to post Share on other sites
Hardcore troubadour 12,783 Posted May 13, 2021 I understand crypto fine. It’s a national security threat if it can’t be traced. They need to shore that aspect of it up. Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 13, 2021 1 hour ago, GutterBoy said: It seems like those of us that have lived through several of these bubbles and experienced the downside are able to recognize this current one as well. As for the rest, well they'll learn. So in other words, you can't handle investing in an asset because as soon as it drops on value you you freak out. If that's your personality then its a good idea not to invest at all. I do agree that people investing in alt currencies will learn. Those who invest in bitcoin will be perfectly happy over the long run If anyone is buying bitcoin as a short term investment, they either need to know how to short term trade, or they are doing this all wrong Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 13, 2021 This will be the end of bitcoin. You guys got it! Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 13, 2021 48 minutes ago, GutterBoy said: It seems like those of us that have lived through several of these bubbles and experienced the downside are able to recognize this current one as well. As for the rest, well they'll learn. Yes, but we also need to recognize that Google, Amazon, ebay and a few others emerged to become giants. Bitcoin could do the same. Share this post Link to post Share on other sites
rurbaniak 6 Posted May 13, 2021 2 hours ago, Cdub100 said: Dummies dropping bitcoin and buying ADA (of which I own a lot). Thanks, pappa Musk. My $40 investment is worth $55, I'm killing it! Share this post Link to post Share on other sites
Hardcore troubadour 12,783 Posted May 13, 2021 There won’t be one soul on earth who admits to getting crushed on cryptos if they crash. Everyone will get out before. Book it. 1 Share this post Link to post Share on other sites
Alias Detective 1,180 Posted May 13, 2021 Sequence of returns risk. Look it up and see a risk that can destroy. Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 13, 2021 26 minutes ago, Hardcore troubadour said: There won’t be one soul on earth who admits to getting crushed on cryptos if they crash. Everyone will get out before. Book it. While I don't disagree. I've been very transparent with my trades and what I own. Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 13, 2021 1 hour ago, Cdub100 said: This will be the end of bitcoin. You guys got it! no joke. This is the end of the line. It was the 1,000th price drop that finally did it in. Vudu will look back at this in 5 years and be like God dammit. Why didn't I just buy more bitcoin? Plus people who act like their investments end when they retire is amusing also. It's not like people hit 60 and whatever their portfolio is at thats what their stuck with. Share this post Link to post Share on other sites
Mookz 1,287 Posted May 13, 2021 3 hours ago, rurbaniak said: My $40 investment is worth $55, I'm killing it! Guy, cash out $40 now, and you'll be playing with house money! Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 14, 2021 4 hours ago, Frozenbeernuts said: no joke. This is the end of the line. It was the 1,000th price drop that finally did it in. Vudu will look back at this in 5 years and be like God dammit. Why didn't I just buy more bitcoin? Plus people who act like their investments end when they retire is amusing also. It's not like people hit 60 and whatever their portfolio is at thats what their stuck with. What an ignorant, and arrogant thing to say. You’re coming across as one of those guys who thinks the only path to financial success is to get in on the ground floor of the next big thing. There are so many ways to make money in America. Investing is only one of them. And, you have no idea what my finances will look like in 5 years. I’m comfortable with my current investment in BTC, our other investments, the outlook for our businesses and our current retirement plan. Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 14, 2021 59 minutes ago, vuduchile said: What an ignorant, and arrogant thing to say. You’re coming across as one of those guys who thinks the only path to financial success is to get in on the ground floor of the next big thing. There are so many ways to make money in America. Investing is only one of them. And, you have no idea what my finances will look like in 5 years. I’m comfortable with my current investment in BTC, our other investments, the outlook for our businesses and our current retirement plan. I didnt see all of the other responses you made in here. But there are plenty of people who act like they can't take a riskier investment before retirement, like once they turn 60 their investments reach full maturity. Plus we have a ton of people who bash MSM, but once MSM comes out some negative story on bitcoin they jump all over it Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 14, 2021 To be fair with my research of Bitcoin Tether is being investigated for the backing of their coin. Its supposed to be 100% backed by assets. It seems the high end is more like 75%, but it may be lower Some of Bitcoins appreciation may be tied to faulty Tether. Tether is currently being investigated Also it seems that during the last dip 450M tether was printed to buy up the dip and prop the price up Bitcoin itself has a great purpose. But exchanges can still manipulate the price to a degree if they deem it beneficial Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 14, 2021 9 minutes ago, Frozenbeernuts said: I didnt see all of the other responses you made in here. But there are plenty of people who act like they can't take a riskier investment before retirement, like once they turn 60 their investments reach full maturity. Plus we have a ton of people who bash MSM, but once MSM comes out some negative story on bitcoin they jump all over it My concern is that we’re seeing too much price movement based on speculation and conjecture instead of fundamentals. Maybe crypto doesn’t lend itself to traditional investment strategies, but it often feels like a clown show. Similar to what we saw with GameStop. I generally avoid those types of investments. Musk says they won’t accept BTC as payment, then Cuban immediately weighs in saying the opposite. It all feels disingenuous. Share this post Link to post Share on other sites
nobody 2,056 Posted May 14, 2021 1 hour ago, Frozenbeernuts said: To be fair with my research of Bitcoin Tether is being investigated for the backing of their coin. Its supposed to be 100% backed by assets. It seems the high end is more like 75%, but it may be lower Some of Bitcoins appreciation may be tied to faulty Tether. Tether is currently being investigated Also it seems that during the last dip 450M tether was printed to buy up the dip and prop the price up Bitcoin itself has a great purpose. But exchanges can still manipulate the price to a degree if they deem it beneficial People minting cryptocurrency to buy other cryptocurrency. Of course it's not a bubble. Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 14, 2021 2 hours ago, Frozenbeernuts said: To be fair with my research of Bitcoin Tether is being investigated for the backing of their coin. Its supposed to be 100% backed by assets. It seems the high end is more like 75%, but it may be lower Some of Bitcoins appreciation may be tied to faulty Tether. Tether is currently being investigated Also it seems that during the last dip 450M tether was printed to buy up the dip and prop the price up Bitcoin itself has a great purpose. But exchanges can still manipulate the price to a degree if they deem it beneficial This is very old news. Tether has been audited and is in the clear. Share this post Link to post Share on other sites
peenie 1,696 Posted May 14, 2021 A friend called me last night to tell me to invest in that Dogcoin. He says it will probably go up to $2. He has 2 friends who both got in while it was just a penny. One made 30K (pulled his money out early) and the other has made over 100K. 1 Share this post Link to post Share on other sites
GutterBoy 2,281 Posted May 14, 2021 16 hours ago, vuduchile said: Yes, but we also need to recognize that Google, Amazon, ebay and a few others emerged to become giants. Bitcoin could do the same. The difference here is that Google, Amazon and ebay provide goods and services and generate billions of dollars in revenue, bitcoin does not. Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 14, 2021 7 hours ago, Cdub100 said: This is very old news. Tether has been audited and is in the clear. Not quite. The audit is in question and the IRS is now investigating. It may be nothing. We will see Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 14, 2021 47 minutes ago, GutterBoy said: The difference here is that Google, Amazon and ebay provide goods and services and generate billions of dollars in revenue, bitcoin does not. Does gold do that also? Share this post Link to post Share on other sites
GutterBoy 2,281 Posted May 14, 2021 7 minutes ago, Frozenbeernuts said: Does gold do that also? Of course not. I don't think Gold is going to be the future either. Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 14, 2021 13 minutes ago, Frozenbeernuts said: Not quite. The audit is in question and the IRS is now investigating. It may be nothing. We will see FUD Share this post Link to post Share on other sites
vuduchile 1,941 Posted May 14, 2021 1 hour ago, GutterBoy said: The difference here is that Google, Amazon and ebay provide goods and services and generate billions of dollars in revenue, bitcoin does not. Yes. There was an underlying biz model that people believed to be the future. Blockchain technology in and of itself isn't necessarily a biz model, but it is a vehicle that could carry one. Blockchain = The internet ETH and others = Amazon or Pet.com BTC is really it's own thing. It acts a bit like gold. Either way, all the pumping and rampant speculation is tiresome. Share this post Link to post Share on other sites
rurbaniak 6 Posted May 14, 2021 16 hours ago, Mookz said: Guy, cash out $40 now, and you'll be playing with house money! LET IT RIDE!! Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 14, 2021 2 hours ago, Cdub100 said: FUD I hope so. You are probably right. I just want to make sure that I don't become blind to any issues. Im still as long as I can be Bitcoin Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 14, 2021 Here is each coin I own and the % of my portfolio BTC 31% ETH 44% THETA 9% DOT 6% ADA 5% VET 3% CRO 0.13% BNB 1% CELR 0.17% EGLD 0.36% RVN 0.01% STMX 0.13% POLY 0.13% TFUEL 0.07% 1 Share this post Link to post Share on other sites
peenie 1,696 Posted May 14, 2021 4 hours ago, Cdub100 said: Here is each coin I own and the % of my portfolio BTC 31% ETH 44% THETA 9% DOT 6% ADA 5% VET 3% CRO 0.13% BNB 1% CELR 0.17% EGLD 0.36% RVN 0.01% STMX 0.13% POLY 0.13% TFUEL 0.07% What about USDC, UNI, LINK and LTC? Regular stocks stop trading at 4 pm. Is there a close time for trading cryptocurrency? Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 14, 2021 21 minutes ago, peenie said: What about USDC, UNI, LINK and LTC? I don't own any of those coins. Share this post Link to post Share on other sites
peenie 1,696 Posted May 14, 2021 2 hours ago, Cdub100 said: I don't own any of those coins. No Litecoin? Why not? Share this post Link to post Share on other sites
Mookz 1,287 Posted May 15, 2021 So I should re-fund my Coinbase account and throw a few bucks into Bitcoin each month? Share this post Link to post Share on other sites
rurbaniak 6 Posted May 15, 2021 1 hour ago, Mookz said: So I should re-fund my Coinbase account and throw a few bucks into Bitcoin each month? I think ETH is the better play, more room to grow. Share this post Link to post Share on other sites
Mike Isles 583 Posted May 15, 2021 8 hours ago, Cdub100 said: Here is each coin I own and the % of my portfolio BTC 31% ETH 44% THETA 9% DOT 6% ADA 5% VET 3% CRO 0.13% BNB 1% CELR 0.17% EGLD 0.36% RVN 0.01% STMX 0.13% POLY 0.13% TFUEL 0.07% What’s the amount of BTC you own ? Single digit ? Sorry if TMI. Share this post Link to post Share on other sites
rurbaniak 6 Posted May 15, 2021 9 hours ago, Cdub100 said: Here is each coin I own and the % of my portfolio BTC 31% ETH 44% THETA 9% DOT 6% ADA 5% VET 3% CRO 0.13% BNB 1% CELR 0.17% EGLD 0.36% RVN 0.01% STMX 0.13% POLY 0.13% TFUEL 0.07% I got BTC, ETH, ADA, VET ,STMX, DOGE, and HOGE. Sold off most my DOGE at 1000% profit, and HOGE is my one in the weeds that I have 3x already. Share this post Link to post Share on other sites
Frozenbeernuts 1,652 Posted May 15, 2021 5 hours ago, rurbaniak said: I think ETH is the better play, more room to grow. That depends on your scale. If bitcoin becomes gold 2.0, it could reach $1M/coin Share this post Link to post Share on other sites
Alias Detective 1,180 Posted May 15, 2021 3 hours ago, Frozenbeernuts said: That depends on your scale. If bitcoin becomes gold 2.0, it could reach $1M/coin If my aunt had balls ....... Share this post Link to post Share on other sites
Cdub100 3,409 Posted May 15, 2021 10 hours ago, Mike Isles said: What’s the amount of BTC you own ? Single digit ? Sorry if TMI. Enough to buy a house 1 Share this post Link to post Share on other sites