Cryptocurrency

[GutterBoy 2,281]

34 minutes ago, Frozenbeernuts said:

Oh so you understand more than Michael Saylor and Greg Foss. I would bet anything that you don't.

I love how people like you get so defensive over the dollar when all it does is lose value.

Every global currency gets replaced over time when it goes beyond repair. The US dollar is no different

The problem here is that you don't understand bitcoin, not that bitcoin proponents don't understand legacy monetary policy

Michael Saylor and Greg Foss don't think BTC will replace USD, shut up, you're an idiot.   You don't understand BTC, you read some BS on some conspiracy alt right website.

[Hardcore troubadour 12,658]

9 minutes ago, GutterBoy said:

Michael Saylor and Greg Foss don't think BTC will replace USD, shut up, you're an idiot.   You don't understand BTC, you read some BS on some conspiracy alt right website.

Bitcoin is alt- right now? Ok tin foil hat boy. 

[GutterBoy 2,281]

12 hours ago, Hardcore troubadour said:

Bitcoin is alt- right now? Ok tin foil hat boy. 

The Alt-right has long been skeptical of the USD.  Back in 2008 when the govt bailed out the banks and really cranked up the money press, the conservatives were clamoring for buying gold, as a means to combat inflation and the "soon to be worthless" USD.  Gold doubled in price in 3 years.  Now we're hearing the same drumbeat, money printing, fed policy, worthless dollar, except now it's crypto that's getting pumped instead of gold.  I can only guess this will subside in a few years as well.

My wife's parents bought a ton of physical gold and silver 10 years ago because they were scared that the monetary system would collapse and their dollars would be worthless.  That fear subsided the past 5 years, but now it's full on fear again, and they are selling all their metals and buying up crypto, doge in particular.  I just hope that they don't have to move in with us at some point.

[GutterBoy 2,281]

If you loved BTC at $60k, you must REALLY love it now at $38k

BUY BUY BUY

[Alias Detective 1,179]

Sell sell sell. Buy buy buy. Cry cry cry - Unless these are in an IRA

[Alias Detective 1,179]

On 3/15/2021 at 8:58 AM, Frozenbeernuts said:

I ended up bailing on crypto at the wrong time. I still had 3k invested in crypto. My total crypto account went from 4k on Jan 4th to 10.3k as of yesterday

What’s its value now?

[GutterBoy 2,281]

2 minutes ago, Alias Detective said:

Sell sell sell. Buy buy buy. Cry cry cry - Unless these are in an IRA

All the bitcoin zombies here are just gonna say it's a buying opportunity and they are in it for the long haul, no worries.  HODL.

[GutterBoy 2,281]

3 minutes ago, Alias Detective said:

What’s its value now?

$4800

[edjr 5,567]

BUY BUY BUY!!!

[Cdub100 3,384]

1 minute ago, edjr said:

BUY BUY BUY!!!

I wish I had more money to put in. Just DCA in right now.

[edjr 5,567]

6 minutes ago, Cdub100 said:

I wish I had more money to put in. Just DCA in right now.

had you been smart (and lucky) and sold at the height, you'd have plenty to buy with now

[GutterBoy 2,281]

Just now, edjr said:

had you been smart and sold at the height, you'd have plenty to buy with now

That's how the smart money is trading this sh!t.  The idiots like Cdub are hodling waiting for it to hit $1M per coin

[edjr 5,567]

5 minutes ago, GutterBoy said:

That's how the smart money is trading this sh!t.  The idiots like Cdub are hodling waiting for it to hit $1M per coin

Seriously. What did it have to get to for people to be happy? greedy fockers

[Alias Detective 1,179]

13 minutes ago, Cdub100 said:

I wish I had more money to put in. Just DCA in right now.

 But you don’t. You bought at $50,000  instead. 

[Cdub100 3,384]

9 minutes ago, edjr said:

had you been smart (and lucky) and sold at the height, you'd have plenty to buy with now

Yup, smart and lucky.  I admit I'm not either of those which is why I use the best strategy for people like me and 95% of the people out there. Buy and hold. I do the same for all my investments. I can't time the market. Nobody can. So why try when buying and holding is a very good strategy.

[Cdub100 3,384]

2 minutes ago, Alias Detective said:

 But you don’t. You bought at $50,000  instead. 

I have bought some at 50k but my average price for BTC is 26k

[nobody 2,044]

The poor pipeline hackers.  Their 90 million is turning into 70 million.

[Alias Detective 1,179]

5 minutes ago, Cdub100 said:

I have bought some at 50k but my average price for BTC is 26k

That’s better than most. 

[GutterBoy 2,281]

4 minutes ago, Cdub100 said:

Yup, smart and lucky.  I admit I'm not either of those which is why I use the best strategy for people like me and 95% of the people out there. Buy and hold. I do the same for all my investments. I can't time the market. Nobody can. So why try when buying and holding is a very good strategy.

Historically, buying and holding only works with a well diversified portfolio.  I agree with you that you cannot time the market, but generally when you are holding volatile and speculative assets, it's wise to take money off the table every so often, and then giving yourself the opportunity to average down.

[Cdub100 3,384]

6 minutes ago, edjr said:

Seriously. What did it have to get to for people to be happy? greedy fockers

I've said it before in this very thread. I'm a long-term investor. I will hold unless I see a black swan event that seems to happen every 10 years. 

I wonder about all those people who took a leveraged long position at 52k and now getting liquidated. Probably sucks. Which is why I don't trade on leverage. If I like something I'll buy the underlying assets. 

[GutterBoy 2,281]

3 minutes ago, nobody said:

The poor pipeline hackers.  Their 90 million is turning into 70 million.

Great now they are gonna have to hack something else to recover their losses.

[Cdub100 3,384]

Just now, Alias Detective said:

That’s better than most. 

Maybe.

[GutterBoy 2,281]

holy $33K now

[edjr 5,567]

wasn't there an NFL guy or NBA player that took crypto as part of his salary? 

[tubby_mcgee 686]

6 minutes ago, GutterBoy said:

All the bitcoin zombies here are just gonna say it's a buying opportunity and they are in it for the long haul, no worries.  HODL.

That's my problem with it. 

No one will EVER say "oops. I guess I'm not the expert I acted like I was".

Instead they say "buying opportunity". 

They said it at 50k and then again at 44k and now at 38k. 

If it were truly a buying opportunity at 50k, a lot people put their "available" funds back into it at 50k--so they didn't have any at 44k and 38k etc.

If you had unlimited $, you could keep adding when all of these "buying opportunities" popped up.  

I don't PRETEND to get it. I know its fun to act like a big shot, especially when you're making money and you start multiplying your bitcoin by $250,000, and telling everyone how "its the future", "last chance to board the train", etc.   Your best best (imo), is to be humble about it ahead of time and don't sit and tell everyone else "Ya see ...you just don't understand it. I understand it completely" as it falls from 60k to 33k.

Again, maybe it will be the $250k by the end like this expert says:   https://www.marketwatch.com/story/bitcoin-at-250-000-in-a-year-this-rocket-fuel-will-help-it-get-there-says-former-goldman-sachs-alum-11621336229  I'm not saying it isn't possible. Just saying, I'm not a buyer because I don't understand it, and from the little I do know, I don't believe it in.  I don't believe in gold either, and I continue to be wrong about it.  So...
 

[GutterBoy 2,281]

Just now, edjr said:

wasn't there an NFL guy or NBA player that took crypto? 

He's gonna be playing for the league minimum by lunch.

[Cdub100 3,384]

Me trying to figure out what's going on.

 

[edjr 5,567]

I will buy back in soon and ruin this for once and for all

[Cdub100 3,384]

8 minutes ago, GutterBoy said:

Historically, buying and holding only works with a well diversified portfolio.  I agree with you that you cannot time the market, but generally when you are holding volatile and speculative assets, it's wise to take money off the table every so often, and then giving yourself the opportunity to average down.

Yup, you're right. It's also a great way to make life-changing wealth if you don't sell. By taking profits you potentially miss out on those wild swings up.

As I've said crypto could go to zero and nothing about my life changes.

[GutterBoy 2,281]

2 minutes ago, Cdub100 said:

Yup, you're right. It's also a great way to make life-changing wealth if you don't sell. By taking profits you potentially miss out on those wild swings up.

As I've said crypto could go to zero and nothing about my life changes.

You seem to be obsessed with life changing wealth.  You might also want to start buying lottery tickets and playing the slot machines.  Or you could reevaluate what's really important in life and realize it's not being wealthy.

[tubby_mcgee 686]

It might go up to the 250k like some are saying.  
It might go to 3k before it does that. Or after. Or it might be bottom at 32k. Or it might go to 6k and hover around there forever.  

Here's a fact:  It can and will fluctuate astronomically in only hours. (some will deny this with "yeah well but....")

Here's an assumption (and I've said this in other posts, multiple times):  Folks aren't going to want to live like that/with that.  You can buy a house today, a car tomorrow and pack of golf tees on Friday.  Or perhaps 2 houses on Monday.

 

[Cdub100 3,384]

1 minute ago, GutterBoy said:

You seem to be obsessed with life changing wealth.  You might also want to start buying lottery tickets and playing the slot machines.  Or you could reevaluate what's really important in life and realize it's not being wealthy.

I have what's important to me. A house, family, plenty of cash. Plenty of other low and slow investments stocks, bonds pension, etc... 

When you grow up food stamps, dirt poor in the ghetto. Yeah, I would like life-changing wealth. I already escaped that sh1thole life to enter the upper-middle class. Now I would like to climb to that next rung on the ladder. It's a "risk" I'm willing to take.

[Cdub100 3,384]

1 minute ago, tubby_mcgee said:

It might go up to the 250k like some are saying.  
It might go to 3k before it does that. Or after. Or it might be bottom at 32k. Or it might go to 6k and hover around there forever.  

Here's a fact:  It can and will fluctuate astronomically in only hours. (some will deny this with "yeah well but....")

Here's an assumption (and I've said this in other posts, multiple times):  Folks aren't going to want to live like that/with that.  You can buy a house today, a car tomorrow and pack of golf tees on Friday.  Or perhaps 2 houses on Monday.

 

I've lost a house in value 

[GutterBoy 2,281]

1 minute ago, tubby_mcgee said:

It might go up to the 250k they are saying.  
It might go to 3k before it does that. Or after. Or it might be bottom at 32k.

Here's a fact:  It can and will fluctuate astronomically in only hours. (some will deny this with "yeah well but....")

Here's an assumption (and I've said this in other posts, multiple times):  Folks aren't going to want to live like that/with that.  You can buy a house today, a car tomorrow and pack of golf tees on Friday.  Or perhaps 2 houses on Monday.

 

Exactly.  I am never going to predict what the price of BTC will be.  Only the foolish will do that.  What I am certain of is that it is volatile, uncertain, not tied to anything, and likely manipulated by people that are smarter and richer than all of us.

[tubby_mcgee 686]

3 minutes ago, Cdub100 said:

I've lost a house in value 

If you're confident and you believe in it...of course don't sell and you don't lose anything.  On a positive note for you, it just upticked.  Which I'm sure you knew before I did, cuz you obviously have sites/software that you are watching. 

[GutterBoy 2,281]

4 minutes ago, Cdub100 said:

I've lost a house in value 

So in your quest to be a billionaire, you've lost the chance to buy a vacation house for your family to hand down from generation to generation.  Congrats.

[Cdub100 3,384]

Just now, tubby_mcgee said:

If you're confident and you believe in it...of course don't sell and you don't lose anything.  On a positive note for you, it just upticked.  Which I'm sure you knew before I did, cuz you obviously have sites/software that you are watching. 

Yeah I'm watched that HUGE red candle dip all the way down and touch 30k before getting firmly rejected. Hopefully, 30k is the bottom.

[lod001 1,237]

31 minutes ago, Alias Detective said:

That’s better than most. 

 

[Cdub100 3,384]

7 minutes ago, GutterBoy said:

So in your quest to be a billionaire, you've lost the chance to buy a vacation house for your family to hand down from generation to generation.  Congrats.

I didn't lose anything. Still holding. 

Speaking of a vacation home in 2012 I wanted to buy a place in Caseville, MI. Beautiful little town on Lake Huron. Sandy beaches and a laid-back atmosphere. I found a couple of houses I really liked for 160-200k. The wife wasn't interested. If I bought one of those they would be worth 400k today. Both of her grandparents owned property in northern Michigan and both of them sold it. Makes me sad they did, because I would have loved for those properties to stay in the family. Like you, they had the mindset of making a buck instead of building generational wealth.

My point with these stories is when you have an asset you believe in selling is dumb. 

[GutterBoy 2,281]

4 minutes ago, Cdub100 said:

I didn't lose anything. Still holding. 

Speaking of a vacation home in 2012 I wanted to buy a place in Caseville, MI. Beautiful little town on Lake Huron. Sandy beaches and a laid-back atmosphere. I found a couple of houses I really liked for 160-200k. The wife wasn't interested. If I bought one of those they would be worth 400k today. Both of her grandparents owned property in northern Michigan and both of them sold it. Makes me sad they did, because I would have loved for those properties to stay in the family. Like you, they had the mindset of making a buck instead of building generational wealth.

My point with these stories is when you have an asset you believe in selling is dumb. 

Well good luck to you.