BITCOIN

Weather Man

Persistance Is A Bitch
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Risky is investing more than you can afford to lose. I have about 14K...I can lose every penny and no worries. I've lost 30K on AMC in the last month, it'll come back up eventually. Few are investing more than they can afford to lose. Far as I am concerned the only losers are those watching from the side lines. I'm sure you ate out 5 times in the last month so you can afford to play, you choose not to.

No, the only losers are people who invest money into something they no faith in just because everyone else is doing it.
 

Weather Man

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Hell it’s not even about big investments…

lite coin for instance legit almost EVERY week.. I’d throw in $100 make some money rinse and repeat for WEEKS.

it was slow.. but that money started paying my vehicle payment haha

To which I reply, awesome! Reasonable deployment of wealth in pursuit of a goal.
 

Weather Man

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you’re so caught up on warren buffet… meanwhile people richer than him are into crypto …

why is your entire investing strategy based on one man?

Oh no, although I admire how he got wealthy. I use him because he has been through many economic cycles and understands the value of an asset. When a man like him who has demonstrated time and again that he understands the value of things tells you crypto is rat poison, I pay attention. I have listened very carefully to why he believes that and I agree.

As long as a bitcoin owner can find someone else who wants it more than you do, you are fine. But when you have the D's yanking on ALL the economic levers...??????? When all the stimulus finally wends its way through and is no more what is the value of a bit of code? I think it will take 2 or 3 years for all the stimulus to end, be interesting to see what happens. Although, if the D's get everything passed, that could trigger some serious shit off.
 

C2tuck

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It isn't about letting gains go by, it is about risk to assets and time available to recover from loss. If you fundamentally believe crypto isn't risky, your risk gauge is out of whack. But that risk gauge is also tied to what point of life you are at.

Now at a certain point of liquid wealth, age doesn't matter and they can risk assets knowing they have plenty in reserve. Less than 1% of Americans and probably less than .5% of Americans can afford to invest that way. I ain't one of them.

So you really can’t afford to take a gamble on $10k?

I put in about $8k since January of this year and my account is sitting at almost $19k.

Just seems like if your as well off as you are that a few grand wouldn’t really hurt either way.
 

C2tuck

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Oh no, although I admire how he got wealthy. I use him because he has been through many economic cycles and understands the value of an asset. When a man like him who has demonstrated time and again that he understands the value of things tells you crypto is rat poison, I pay attention. I have listened very carefully to why he believes that and I agree.

As long as a bitcoin owner can find someone else who wants it more than you do, you are fine. But when you have the D's yanking on ALL the economic levers...??????? When all the stimulus finally wends its way through and is no more what is the value of a bit of code? I think it will take 2 or 3 years for all the stimulus to end, be interesting to see what happens. Although, if the D's get everything passed, that could trigger some serious shit off.

So are you saying that buffet has been 100% correct in 100% of his investments? I promise you he hasn’t.
 

Weather Man

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So are you saying that buffet has been 100% correct in 100% of his investments? I promise you he hasn’t.

Go back and tell me where I said he was right 100% of the time. He has made enough right moves to become very wealthy. Buffet himself admits he is far from perfect. He readily admits that all the liquidity in the market makes his style of acquisition very tough.

So you really can’t afford to take a gamble on $10k?

I put in about $8k since January of this year and my account is sitting at almost $19k.

Just seems like if your as well off as you are that a few grand wouldn’t really hurt either way.

I play the few grand won't hurt game with assets I feel I understand what is going on. Glad you are making money.
 

q6543

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It's pretty well known buffet doesn't invest in things he doesn't understand and also stayed away from technology...until $AAPL

Truth is the low return environment has driven everything out the risk curve.
Maybe the branch will break someday... but it's better to be wrong and wealthy than to be right and poor.
 

me32

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you’re so caught up on warren buffet… meanwhile people richer than him are into crypto …

why is your entire investing strategy based on one man?

Thats odd i know people who claim to be millionaires in crypto yet still have to work a 40hr work week to put food on the table.

Not saying you cant make money i just haven't met anyone personally that actually physically cashed out on.
 

KilledbyKenne

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Thats odd i know people who claim to be millionaires in crypto yet still have to work a 40hr work week to put food on the table.

Not saying you cant make money i just haven't met anyone personally that actually physically cashed out on.

The issue with many Crypto users is a lack of exit strategy or if they have one, sticking to it.

They see the gains they have made through the bull market and think, "Just another $1k price increase then I'll sell." If it reaches that milestone they just push it to the next dollar amount they have in their head and it's an endless process until the price begins to drop. Then while it's going down they say, "This time it's different. As soon as it gets close to it's previous ATH then I'll sell for real." But by now it's the end of the bull run and the price keeps going down and since they feel they missed the top they just hold and wait for the next bull run to kick off. Lol

At least that's what I've seen/experienced.
 

1slo5ohh

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Thats odd i know people who claim to be millionaires in crypto yet still have to work a 40hr work week to put food on the table.

Not saying you cant make money i just haven't met anyone personally that actually physically cashed out on.

I worked with 3 younger guys that all went in with the same strategy just before the last bull run and cleaned up. There were rumors through the plant that a couple guys made ridiculous money but no one knew who exactly it was until a few weeks ago when they put in their notice. They apparently took loans and threw everything at GameStop and doge then cashed out, got with a financial guy and got their ducks in a row then came in and turned in their badges and bailed out.

They're out there but the ones that made stupid money made stupid choices to get there. Dumb luck is dumb luck and you can't hit it big without betting big.
 

quad

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The issue with many Crypto users is a lack of exit strategy or if they have one, sticking to it.

They see the gains they have made through the bull market and think, "Just another $1k price increase then I'll sell." If it reaches that milestone they just push it to the next dollar amount they have in their head and it's an endless process until the price begins to drop. Then while it's going down they say, "This time it's different. As soon as it gets close to it's previous ATH then I'll sell for real." But by now it's the end of the bull run and the price keeps going down and since they feel they missed the top they just hold and wait for the next bull run to kick off. Lol

At least that's what I've seen/experienced.
What about the people that cashed out when Bitcoin was $100 or $200? I know of some and they would have made a lot more had they just patiently waited.

I am in no hurry to cash out. The road to a higher price will not be a straight line. There will be corrections along the way.
 

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