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Originally Posted by Bill Bumface
No, the point is that just because one person does something and makes money at it means everyone should.
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That's not the point at all. EVERYONE that invested in crypto 7 years ago made money. Almost NO ONE that went to the casino made money, the number is so small it may as well be zero. Your comparison is nonsensical.
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The same thing could be said for the guy that buys a section of land, blows his life savings into an oil well and hits it big.
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Another silly comparison, you're picking the most unlikely scenario.
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Just because that guy did it doesn't mean "why isn't everyone just doing this".
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I didn't go big in BTC went with other investments (everyone here knows what that is), what did you do?
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It also doesn't mean that guy was an idiot.
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If a person is utterly unwilling to listen, to take advice, learn from others success, to think logically and instead cling to their ideology then yes that person is not very smart.
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Personally, I don't have the information at my disposal that aligns with the risk profile I have for my capital to go and buy a section of land and drill a well.
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Therefore 7 years ago you couldn't evaluate any opportunity, because of land and drilling.
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Good for you, don't deride me or imply I'm a moron because I allocate my capital differently.
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Did you call people morons for buying crypto 7 years ago? And what is your different way of allocating capitol?
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I think some of the people involved in the GME crap actually knew what they were doing, and made a lot of money. I think way more people should have stayed the hell away.
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That's gambling, not investing. I gambled on a LCID and RIVN, also AMC and a few others. Short term, gambling. I had zero intention of holding long term, didn't care one lick about fundamentals it was all about riding the wave and getting out. And I did it with money that didn't threaten my financial freedom.
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Originally Posted by dino7c
This is why I only deal in the big boys...strong hands at that top will limit any "crash"
I refer to it as a "sale" rather than a "crash"
In BTC you can actually watch the coins move from weak hands to strong while people are freaking or high fiving about a "crash"
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Investing requires zero emotion which is almost impossible. The worse you feel, the better the opportunity. This time last year the markets had turned to total ####, incredible opportunity. I only wish I had more free cash at the time. Could have bought on margin and made so much money but that's beyond my risk tolerance.
This time last year BTC was at $22K the sky was falling. Crypto was dead, finished. Experts said get out. And that's just one year, rinse and repeat for over a decade. I remember when BTC was only for losers in their basement wasting electricity.