BITCOIN Discussion..........

[phillyflyers]

Sorry but that's probably the worst way to play any investment. Reminds me of the guy talking about how he out his retirement into DOGE a few years ago, was like 50 cents at the time and he dropped a couple hundred thousand only to see it go to like a dime. Some people just done understand buy and hold is the bigger gamble than trading.

Sell some as it goes up - buy back more on the dips.

Markets never go in a single direction - there will be lots of buying and selling opportunities along the way.

I got very lucky this week - I pulled everything I had from books as I knew I would be inactive beginning Sunday - started the big draw down Thursday/Friday and completed Monday - all into ETH. Of course it spiked over the weekend and made more during the week. Now I re-funded books this morning and had a nice amount left over while replenishing 100%. I will probably sell half and let it set in cash, if the rally is played out short term (as I expect we are nearing) I'll look smart - if not - I'm still playing on house money.

Also, would diversify away from a single or coins themselves, buy come CRCL (probably best to wait until it seems 180-200 range again if possible) - but don't forget to hold some crypto stocks. Very easy to buy and sell out of the money calls week to week and deliver a handsome yield - buy protective puts in case it goes to shit and limit your downside. I was lucky and got a few hundred on IPO - bought a couple hundred more and have been selling contracts week to week and throwing my gains back in good old boring companies with a yield. Been a winning strategy so far - today I'm probably cutting back by 25% if we get near 250.

I'm not looking to buy and sell.loke I'm some kind of day trader.

I can sit back amd wait.

If you invested $1000 Bitcoin in 2010 and never sold, you would have about $1.62 billion today.

How many stupid fukks thought they were being smart and sold along the way?

Almost all of them.

 

[djefferis]

Again - anyone who bought in at the lowest price point of anything thinks they are “smart” when they realize they can sell for a large profit.

But you can’t spend those profits until you sell.

The only way to make money while also retaining ownership of the principle is leveraging your stake. Problem with crypto as I understand it is you can’t do this without giving possession to a 3rd party who in turn loans it out and pays you back your collateral plus a return. Works great as long as they pay - but what happens when that company dissapears.

As I have said - I’ve seen many investment sectors boom and bust in my years. Crypto is nothing we haven’t seen before. It provides a solution to a problem so it has benefits - but in the end it also doesn’t serve any basic human need and if an alternative comes about that solves the problem cheaper - it will not be valued near what it is now.

That’s the biggest problem it has today - you literally have an infinite number of cryptos available to be created but only a few networks to exchange them. In the end - the network that offers the most efficient transactions will be the preferred crypto. At this point it’s etherum - so that’s where I’m putttng my small bet on crypto. But again the key is finding what’s next - who develops something that beats ETH ? Find that and put your money into it - skip buying BTC now.

 

[phillyflyers]

Again - anyone who bought in at the lowest price point of anything thinks they are “smart” when they realize they can sell for a large profit.

But you can’t spend those profits until you sell.

The only way to make money while also retaining ownership of the principle is leveraging your stake. Problem with crypto as I understand it is you can’t do this without giving possession to a 3rd party who in turn loans it out and pays you back your collateral plus a return. Works great as long as they pay - but what happens when that company dissapears.

As I have said - I’ve seen many investment sectors boom and bust in my years. Crypto is nothing we haven’t seen before. It provides a solution to a problem so it has benefits - but in the end it also doesn’t serve any basic human need and if an alternative comes about that solves the problem cheaper - it will not be valued near what it is now.

That’s the biggest problem it has today - you literally have an infinite number of cryptos available to be created but only a few networks to exchange them. In the end - the network that offers the most efficient transactions will be the preferred crypto. At this point it’s etherum - so that’s where I’m putttng my small bet on crypto. But again the key is finding what’s next - who develops something that beats ETH ? Find that and put your money into it - skip buying BTC now.

Again, I don't need to sell it. I can wait.

Crypto is nothing we haven't seen before? That's ridiculous.

You and every other person that ever lived NEVER have had the opportunity to basically be your own bank in the way that Crypto offers it.

Never.

Your logic is backwards to me.

 

[Ace7550]

It goes up and it goes down.

 

[rolandcorts]

Again - anyone who bought in at the lowest price point of anything thinks they are “smart” when they realize they can sell for a large profit.

But you can’t spend those profits until you sell.

The only way to make money while also retaining ownership of the principle is leveraging your stake. Problem with crypto as I understand it is you can’t do this without giving possession to a 3rd party who in turn loans it out and pays you back your collateral plus a return. Works great as long as they pay - but what happens when that company dissapears.

As I have said - I’ve seen many investment sectors boom and bust in my years. Crypto is nothing we haven’t seen before. It provides a solution to a problem so it has benefits - but in the end it also doesn’t serve any basic human need and if an alternative comes about that solves the problem cheaper - it will not be valued near what it is now.

That’s the biggest problem it has today - you literally have an infinite number of cryptos available to be created but only a few networks to exchange them. In the end - the network that offers the most efficient transactions will be the preferred crypto. At this point it’s etherum - so that’s where I’m putttng my small bet on crypto. But again the key is finding what’s next - who develops something that beats ETH ? Find that and put your money into it - skip buying BTC now.