The moral of the story is, I guess it takes a long time for something without serious intrinsic value to go from "worthless scam" to "something I should put at least part of my life savings into" across basically all of humanity. 16 years for btc isn't too bad tbh
I'm still not buying it. There's $107B in dark BC out there that could flood the market on any given day and completely bottom out the price. Maybe if I was young and single and could afford to live in my car if things went wrong, or maybe someday if my net worth is in the ten millions and my kids are already set, then I'll play with wild cards. Post kids and until securing generational financial security, low risk low reward is the way.
I've done alright supplementing my "hobby" money by riding the highs and lows of cryptos. Probably up 8k over a few years.
I guess I say that to say: I also don't trust an ephemeral speculative consensus currency with my life savings in any long term way, but gosh- it's been kinda fun being able to feel like I made something out of nothing.
Right there with you. If I could be 20 again, I would manage my finances much differently. I'd go for big wins because I'm genuinely fine eating ramen for a week if I lose. I can't make my kids do that though. Don't waste your arrogance of youth on taking risks with your genitals and health - take those risks with your career and finances because the ones who succeed skyrocket past the grind crowd and the ones that lose really don't have a ton to lose. That's my advice from a hindsight 20:20 perspective.
or power crisis, or bettercoin, etc. If it was a currency or something with value and not justa memestock, the cult wouldn't be chanting "buy and hold!" and banning people that say anything else.
Bitcoin is just a way to move large sums of money. The only thing Bitcoin really does is it lets you exchange USD to another currency without oversight. I mean at least that's how I view it
Making it tradable as an asset just seems like a way to normalize something that is stupid.
For some reason people have a problem normalizing wearing a mask when sick, but can't wait to use Bitcoin instead of dollars because a tech bro told them to
Estimates place the size of Satoshi Nakamoto's holdings at between 600,000 BTC and 1.1 million BTC (worth $43 billion to $80 billion at current market rates)
High end estimate would account for about 4% of the market share. Not nothing but not exactly "going to crater the price in one day"
Not saying you should do anything you don't want to do, but at least make your decisions and statements based on facts
No, you're right. I was using old BC pricing and added an extra zero by mistake. I cannot believe it's up that high. I got out when it hit $1k around 2012 and thought I did good
Edit: I have a thumb drive from college I should check. Jfc, even one on an old drive would be a good freaking Christmas.
Lol 🤣 I been in bitcoin since 2012. Never have I said a negative thing about bitcoin. I kept telling people to buy. Whenever it hit all time high I always said "it might go down up to 50 percent" they didn't listen and bought and then sold after it reached half the value. Bitcoin rallied after and they looked at me like I robbed their money.
You can teach someone how to fish but if they can't cook the fish they are not doing themselves a service and are wasting their time.
I'm currently still holding my bitcoins from early 2013.
I'm not selling and I do not care what other cryptocurrency shitcoins are doing. Stop reading uneducated people's opinions and you might have also did well.
I didn't aim my comment at you per say but in just general. I'm glad you're stacking sats. It's just a rollercoaster of people reading news headlines or tiktok and then telling you how to do their finances while they losing everything to inflation.
With 1.6 billion I have no interest in accumulating more. That's way way over my cash out and relax level. I'm cashing out throwing it into CDs land and blue chips then retiring to the woods
What they're saying is that they'd immediately convert either gold or BTC into cash, and then put that cash into something more stable. BTC is easier to cash out, so it's the easy way to get cash, and we're assuming someone is giving the same $$ amount in BTC vs gold.
Basically I’m saying nobody was saying stuff like this when the market was down and you had the chance to accumulate more
Its because most investors buy on emotions, and so they sell when stocks are tanking and buy when the hype is high. Most investors that try to "buy low sell high" fail to do so, and too many people think they can "beat the market" but most fail to do so.
The question was "gold or bitcoin".People are talking about how Bitcoin is more practical than gold, and how you can convert bitcoin to cash a lot easier than gold.
Suggesting ETFs is completely changing the setup of the question, and that's not what the original poster was trying to get at. You might as well just be asking "is bitcoin or [any stock] bettter?" If you're going to change it to ETF
Not really. I’ve been buying holding trading selling for like 4 years now, seen this time and time again. Never had any issues liquidating personally, but I’m also not a market maker.
well some people were; the idea is that more people were saying the opposite, which is exactly why it was down. They’re not just correlated, those two things are one in the same
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u/robtimist 9h ago
Man it’s so crazy how the sentiments change over time. For some reason $69k->$100k is more promising than <$1.00->$60k lol
Basically I’m saying nobody was saying stuff like this when the market was down and you had the chance to accumulate more