BITCOIN

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

JakeHyde

silvercue said:

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.

Ouch!  I'm having a similar experience with Rivian at the moment. But, maybe not as bad as 99.97%. 😖

silvercue

JakeHyde said:

silvercue said:

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.

Ouch!  I'm having a similar experience with Rivian at the moment. But, maybe not as bad as 99.97%. 😖

It's 99.98% loss now 

I also have 2 others at over 99% loss!  DMK Pharmaceuticals & Workhorse Group!   And people say Crypto is gambling! 

JakeHyde

silvercue said:

JakeHyde said:

silvercue said:

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.

Ouch!  I'm having a similar experience with Rivian at the moment. But, maybe not as bad as 99.97%. 😖

It's 99.98% loss now 

I also have 2 others at over 99% loss!  DMK Pharmaceuticals & Workhorse Group!   And people say Crypto is gambling! 

I'm so sorry for your loss 😖 🍻

My biggest losers are all EV stock. Rivian -£1020 (-25.46%), Tesla -£198 (-22.54%), Nio -£338 (-19.78%)
That being said Apple and Intel aren't doing well either. (-8'ish%)

When BTC fell to $13k, I should have gone all in with £10K  Oooph!!!!  Woulda-coulda-shoulda!

It's just with all the old guard investors saying Bitcoin will fall to zero, and Cathie Wood (not sure I trust her insight) saying it'll climb to X million, it just all felt like red flags.  

I'm still yet to understand how/why Bitcoin is legitimate... but now with the likes of Blackrock creating an ETF, I'm beginning to think I missed the boat.  Every time I broach the subject to my American mate he just repeats 'Buy and Hold Bitcoin', doesn't tell me why or how!  haha

Hey did anyone else get caught up in FTX?  I got my investment out of there just in time. All a whopping £100 of it! haha

Scottex99

Everybody who holds BTC wishes they had bought much earlier and invested much more, pretty standard thought process, much like any investment that has done well.

I think most “newer” people to the space get so caught up in that, that they forget the exit can also be a challenge too. You’ll never get out at the top so you should stick to some kind of target or at least attempt to ladder out as the price rises. Profit is profit at the end of the day. 

Legitimate in what sense? 

As an asset class?
As a new form of money?
As a store of value?

I used FTX app as a portfolio tracker mainly, maybe had a couple hundred staked and lost there.

Teasing ATH right now, must be big sell pressure there as it’s 3rd attempt I think 

silvercue

New ATH this morning.  BITCOIN overtakes silver in most valuable assets by MC.  Google next?