Quote:
Originally Posted by dino7c
If you worry about a few months you aren't cut out for Crypto investing...or investing at all honestly. You guys are so short term, again ZOOM OUT.
Earlier in this thread people are calling me out for saying to buy at $3000 peak bubble now you mock 76,000 lol
I am talking years not a few months...105, 127, 76, will be considered cheap in a few years just like When Jammies was mocking 45k or whatever a couple years ago.
Nobody is "burned" unless they sold low. I would never suggest someone invest in anything for 3 months lol that is just stupid. This is why I have make so much money in Crypto I don't panic or even bother with the day to day. This is Bitcoin, it cycles but the highs and lows are higher every cycle...its cycling down at the moment. DCA and forget about the noise. Or don't, what do I care?
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I guess I'm the latter. I was toying with bitcoin in the $300-400 range, but i also was playing with the earlier version, e-gold which I got burned on. I made a couple hundred, moved on. I honestly don't see the value in modern crypto and I still don't. I still view it them like tokens at an arcade or a collectible. You can say there's a ton of desirable games you can play there with those tokens, but IMO I still think it's too limited and will continue to be for a while. I also think a new era of towns will arrive rendering the original tokens relatively worthless, but that might be the e-gold cynicism talking.
I also cashed out my pokemon cards a few years before the pandemic. Pages of holos including several Charizard, one was first edition. It's just paper.
Pre pandemic, I had a chance to buy a white gold Rolex Daytona for $30K (CAD). I thought it stupid to put my life savings into a single watch with more than my car, so I got something else for a fraction of the price. A similar one went more than 10x at its peak with one selling at Sothebys for $300K+ USD about two years later.
I honestly still think there's no inherent value in these things that I cashed out too early or decided against and I stand by that. No regrets in my decision. It would have been nice not to have needed the extra bit of funds so that I could have suddenly been mortgage free in 2024. It is what it is.
Laugh if you want, but if I have free cash flow and want to be aggressive, it ain't crypto. I believe in block chain technology and I believe in NFT token technology to combat counterfeiting, but I've never met another person who had a semblance of understanding of that stuff, and I've met a ton of people who are like, "Hello doubleF, do you know what is crypto?". I also think no one at all is developing that tech well at all. It's doing about as good as graphene. I viewed crypto the same at $300 than I did at $3000 and $30000. I doubt I change my mind even if it goes to $300K. Proof of work and smart contracts backed value makes no sense to me. Commodity backed crypto is in the right direction but IMO still wrong. Stock backed crypto or stock tokens is IMO probably the only thing that might finally get me back into crypto.
Maybe some jackass might accidentally merge the actual useful part of the tech with AI to stabilize some application. But for now, I view it as another piece of tech that is aimlessly seeking purpose and evolution. The last piece of such tech that finally figured it out IMO was auto surfing which turned into the backbone of the ads that help with apps with microtransactions. Actually, I think P2P file sharing will be part of the next tech leaps before block chain, but not totally sure what industry might kick start it.