This thread has caused me to become more aware about crypto. Are both Bitcoin and Etherium down about 66 percent year to date?Originally Posted by Clusterfrack
This thread has caused me to become more aware about crypto. Are both Bitcoin and Etherium down about 66 percent year to date?
Likes pretty much everything in every caliber.
Speculative investments like Crypto don't get more money than I can afford to lose--or at least not need for a while. As with equities after a crash, it's likely that prices will increase rapidly and it's almost impossible to predict when. So, I use the same "time in the market, not timing the market" strategy as with most of my other investments.
“There is no growth in the comfort zone.”--Jocko Willink
"You can never have too many knives." --Joe Ambercrombie
Down 66% sounds like buying opportunity.
David S.
If I hadn't maxed out my mad money, I'd buy for sure.
“There is no growth in the comfort zone.”--Jocko Willink
"You can never have too many knives." --Joe Ambercrombie
I'd get into crypto before I got into NFTs, but they both seem really ripe environments for parting fools from their money easily.
And when it comes to investing...I am a fool.
I give money to a dude who does this stuff for a living and forget about it for years. It's automatically transferred so I barely even feel the bite.
Hopefully in 20 or 30 years it'll be a lot.
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Help me understand why. Is it something intrinsically valuable about the investment or a sense anything down 2/3 must be a bargain?
Likes pretty much everything in every caliber.
Nothing about crypto is intrinsically valuable to me - it doesn't solve any problems in the real world, and it doesn't produce anything. It's speculation at best.
This series has been insanely technically minded, and has taught me some things, and reminded me of one thing in particular - I don't want to put any money into crypto.
https://rationalreminder.ca/understanding-crypto
Historically that's really not that big of a crash, percentage wise. There's a lot being made about everyone losing their shirt and crypto is dead, but it seemed worse after Mt. Gox.
Gold has industrial uses but otherwise it's intrinsic value is basically just a universal agreement that it's valuable. Given the amount of millionaires made in the last bull run it's going to take a long time for cryptocurrency to lose credibility as a store of value.
Intrinsic value wise crypto has more similarities to the fine art market. There's still a lot of money to be made, I just think amateur hour is over.
Yes. So are a lot of other stocks. Stocks which anyone with two brain cells could see were overpriced. But we’re talking brands that everybody knows. PayPal, Netflix, Tesla, Zoom, even Disney…heck, Amazon is half what it was a year ago.
I lumped all three of your quotes together. If you want to treat it like a lottery ticket, just don’t put more in it than you would on any other form of gambling. But don’t buy it at the expense of proven long term investments. Fund your IRA, 401k, or other retirement accounts first. Then if you want to put a little on crypto or something else, go ahead. I’ve certainly spent more and had less to show for it.
Plus it’s all a matter of perspective. You’re not missing much if you’ve never been on Wallstreetbets, but some of these guys lose thousands in a day. Poof. Gone. Options are a whole lot closer to gambling than crypto.
Pro blockchain piece:
https://www.wsj.com/articles/blockch...ts-11670345993
Likes pretty much everything in every caliber.
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