BITCOIN

Scottex99

noitsnotme said:

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Welcome! Absolute classic behaviour.

I've done this since 2017 too. I've got a gambling streak so was always way more concerned with selling early and watching it rocket than taking a nice chunk out as a reward.

I don't include crypto in my net worth -  not really  and it wouldn't ruin my life it all went to 0 tomorrow.

But this cycle i'm getting prepped, dare I say it, it looks easier to predict. You wont catch the top but once things start to overheat post halving it's time to start taking some profits. You can always leave some bags for the long term too

noitsnotme

Scottex99 said:

noitsnotme said:

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Welcome! Absolute classic behaviour.

I've done this since 2017 too. I've got a gambling streak so was always way more concerned with selling early and watching it rocket than taking a nice chunk out as a reward.

I don't include crypto in my net worth -  not really  and it wouldn't ruin my life it all went to 0 tomorrow.

But this cycle i'm getting prepped, dare I say it, it looks easier to predict. You wont catch the top but once things start to overheat post halving it's time to start taking some profits. You can always leave some bags for the long term too

I'm planning early retirement in 3 - 5 years and have not included the value of my crypto in any of my calculations.  Any gain on the crypto is really a bonus that at the current prices wouldn't change my plans that much.  Who knows, if it does go to the moon maybe I can buy houses for the kids outright rather than just fund their deposits 

RichTips

Malthusian said:

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

silvercue

RichTips said:

Malthusian said:

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

They are not posters - they are "cRypto Br0s" - remember

Malthusian

RichTips said:

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

Everyone who invests in Bitcoin at $60k is relying on it going to some unfeasibly large number in some unspecified but small number of years so they can cash out and buy their lambo, or retire to the Bahamas, or whatever "rich quick" means to them. What those numbers are is rarely specified, but it is implicit that it is of a similar ratio to the price now vs the price when only a tiny number of enthusiasts had heard of Bitcoin and were using it to buy weed and shrooms on Silk Road.

I singled out [Deleted User]'s prediction merely because he had the brojones to actually put a specific figure and a timescale on it. And then duly had to spend the next few years doing the goalposts fandango.

Scottex99

Making price predictions is never going to end well as I’ve encountered personally. But I’ve been consistently bullish the whole time. The ETFs just add an extra layer to that.

”Unfeasible” is relative, like NVDAs current price now if it was 5 years ago.

Plus why is it rich quick? How many times have people on this thread said recently oh I’m all on X coin or if Y coin can just pump to $1 or Z coin just needs to 20x and I’ll have 3 islands?

Of course that exists but not here, so it’s not relevant 

RichTips

Malthusian said:

RichTips said:

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

Everyone who invests in Bitcoin at $60k is relying on it going to some unfeasibly large number in some unspecified but small number of years so they can cash out and buy their lambo, or retire to the Bahamas, or whatever "rich quick" means to them. What those numbers are is rarely specified, but it is implicit that it is of a similar ratio to the price now vs the price when only a tiny number of enthusiasts had heard of Bitcoin and were using it to buy weed and shrooms on Silk Road.

I singled out [Deleted User]'s prediction merely because he had the brojones to actually put a specific figure and a timescale on it. And then duly had to spend the next few years doing the goalposts fandango.

You didn't single it out. You did the opposite, really, by applying it to a non-existent plurality. I had to find the specific price call you were referring to. You also called it a failed prediction while ignoring the stipulated timescale.

JakeHyde

Every time I ask my American mate for advice, he always replies, "BUY AND HOLD BITCOIN", I dunno...  

All the old money folks are adamant it will crash to zero.   Once upon a time I bought £100 worth of Bitcoin... via FTX  *gasp*, luckily I withdrew in time, once the news started breaking.  But My £100 turned into £40, when BC hit $13k. 

I decided, "That's it, no more bitcoin for me". But then it started growing again... and growing....   My mate still telling me to 'Buy and hold bitcoin'...    I dunno....    I ignore him again.

My £40 turns into £180...   now I feel the FOMO, like I messed up...  that it could actually grow to silly amounts.

When it was down to $13k, I should have stuck a cool grand on... sillier still £10K!!!

But... Warren and Charlie, had a good point!  It doesn't produce anything?!
I hear the people who are the most vocal about Bitcoin want you to 'Buy and hold bitcoin', to make people want it, and give it validation, so in turn it makes their investment valuable.

I dunno... 😖

Is this the greatest con that's ever been, or the greatest opportunity!  Buy Nvidia instead 🤣

silvercue

JakeHyde said:

Is this the greatest con that's ever been, or the greatest opportunity!  Buy Nvidia instead 🤣

Buy whatever you want.  I bought lots of NVIDIA when it was $60 and continued to buy all the way to $160.  Currently my best performing stock.   But I am far more invested in Bitcoin and some other Cryptos and from this position expect them to make me a lot more profit. 

But for every NVIDIA there is a Jaguar Health, which is one of my worse investments and is currently at 99.97% loss.  I keep it open as a reminder to me!   Just like Crypto.   There are smart buys and terrible buys.

Scottex99

Still got a DASH buy open from 14/12/2017 that's -97.5%

First day I ever bought BTC and few others