Let's talk about Cryptocurrencies

[afc wimbledon]

Originally Posted by dino7c

still making money...arguing with you guys is pointless

If you bought a bitcoin Jan 6 you could sell it for about a $3000 profit today (Canadian funds)

not a bad month

That's the nature of penny stocks, make 3000 in one month, lose 5000 the next

[GGG]

Originally Posted by dino7c

still making money...arguing with you guys is pointless

If you bought a bitcoin Jan 6 you could sell it for about a $3000 profit today (Canadian funds)

not a bad month

Why would you buy Jan 6th and sell today? And why if you are buying Jan 6th is someone selling it to you. What makes you smarter than the person you are buying it from?

[OMG!WTF!]

I'm wondering if someone buying on Jan 6th would have managed to not sell on Jan 23 when it fell to slightly below its Jan 6th price. If you did weather that storm, what do you do now that it's at resistance? Sell? Buy more? Hold? Somebody make a call here.

[dino7c]

Its not for everyone...my crypto books look better than any mutual fund and yes I have actually pulled out real money. There are patterns if you know what to look for.

I will bet avatar bet anyone on here BTC will be worth 20k+ again

[afc wimbledon]

Originally Posted by dino7c

Its not for everyone...my crypto books look better than any mutual fund and yes I have actually pulled out real money. There are patterns if you know what to look for.

I will bet avatar bet anyone on here BTC will be worth 20k+ again

I know I will regret this but why? what inherent value does it have that will cause it to gain twice its worth, if Apple brings out a great new phone its stco goes up, that I get, what would make bitcoin inherently more valuable as a currency?

[OMG!WTF!]

Originally Posted by afc wimbledon

I know I will regret this but why? what inherent value does it have that will cause it to gain twice its worth, if Apple brings out a great new phone its stco goes up, that I get, what would make bitcoin inherently more valuable as a currency?

Tesla just made it's first dollar about three months ago. Now it's worth more than Ford and GM combined. There are so many reasons stocks go up and only a couple make sense via the ye olde tyme earnings metric.


So we're going with a long call on Bitcoin? Hold? Or buy more? I guess buy more if it's going to 20k?

[dobbles]

I love the cyclical nature of this thread. Someone asks whats new in crypto and if there is any actual use for all this and then someone inevitably retorts with "buy low, sell high, bro!"

It reminds me of stories about the casino. Everyone talks about how they went in with 20 bucks and came out with 500. The way people tell it, casinos are just giant piggy banks that are giving everyone money. But we all know the reality is that they are making oodles of money and that people conveniently forget about all the times they lost money and brag about the single time they come out ahead.

I just find it remarkably similar to the mentality of the crypto bulls. (and dino, don't take it as an attack on you personally. if you are up, good on you!)

[GGG]

Originally Posted by dino7c

Its not for everyone...my crypto books look better than any mutual fund and yes I have actually pulled out real money. There are patterns if you know what to look for.

I will bet avatar bet anyone on here BTC will be worth 20k+ again

So what was your 2019 crypto ROI?

[mikephoen]

Originally Posted by GGG

So what was your 2019 crypto ROI?

If you bought in January 2019 and sold at any other time, it was pretty damn good.

[Jason14h]

Bitcoin is up 190% In the last year

[topfiverecords]

It's also down 29% in the last year depending how you look at it.

[afc wimbledon]

Originally Posted by Jason14h

Bitcoin is up 190% In the last year

The thing I find either sad or amusing is that you seem to think this is a good thing, not a clear sign of a massively unstable easily manipulated ponzi scheme.

[dino7c]

So no takers on the bet? The same people that were poking fun at $3000 Bitcoin continue with the same hot takes. Could have made some nice money.

[dino7c]

Originally Posted by afc wimbledon

The thing I find either sad or amusing is that you seem to think this is a good thing, not a clear sign of a massively unstable easily manipulated ponzi scheme.

It's sad you are such an expert yet didn't cash in...there is still time

[dino7c]

Originally Posted by dobbles

I love the cyclical nature of this thread. Someone asks whats new in crypto and if there is any actual use for all this and then someone inevitably retorts with "buy low, sell high, bro!"

It reminds me of stories about the casino. Everyone talks about how they went in with 20 bucks and came out with 500. The way people tell it, casinos are just giant piggy banks that are giving everyone money. But we all know the reality is that they are making oodles of money and that people conveniently forget about all the times they lost money and brag about the single time they come out ahead.

I just find it remarkably similar to the mentality of the crypto bulls. (and dino, don't take it as an attack on you personally. if you are up, good on you!)

I was a crypto bull before the big boom... evidence is in this thread.

Even now none of the naysayers won't even make an avatar bet. BTC is going over 20k...buy some, sell at 20k, make money. I put this out there now some I'm not accused of some fish story later.

[GGG]

Originally Posted by Jason14h

Bitcoin is up 190% In the last year

That’s different completely from a Bitcoin traders ROI.

If the argument is buy and hold then yes you are up 190. But then your return really depends on when you bought in and if you continue to buy on a regular basis. Or do you try to time the Bitcoin market which is much more challenging and may or may not be possible to do on an ongoing basis.

For example if you bought at the end of 2017 you are still underwater.

[GGG]

Originally Posted by dino7c

So no takers on the bet? The same people that were poking fun at $3000 Bitcoin continue with the same hot takes. Could have made some nice money.

Bitcoin will be worth 20k again is a meaningless statement. Due to inflation of soft currency and the fixed quantity of Bitcoin if the product continues to exist and be worth more than zero it will be worth 20k US at some point. It’s buying power at that point in time is unknown.

What is your timeline for it to reach 20k?

[afc wimbledon]

Originally Posted by dino7c

It's sad you are such an expert yet didn't cash in...there is still time

Well I missed out on Bre X as well, fool that I am, still I'm all in on Herbalife these days, I'll make a fortune and lose weight now!!

[Jason14h]

Originally Posted by afc wimbledon

The thing I find either sad or amusing is that you seem to think this is a good thing, not a clear sign of a massively unstable easily manipulated ponzi scheme.

How is is sad or amusing ? The question was asked, I went and did the 365 rate of return from the day the question was asked

It is literally just FACTUALLY answering the price movement of Bitcoin , no different then if someone asked what the return on Tesla was

[Jason14h]

Originally Posted by GGG

That’s different completely from a Bitcoin traders ROI.

If the argument is buy and hold then yes you are up 190. But then your return really depends on when you bought in and if you continue to buy on a regular basis. Or do you try to time the Bitcoin market which is much more challenging and may or may not be possible to do on an ongoing basis.

For example if you bought at the end of 2017 you are still underwater.

No argument . The question was what was the ROI in the last year.

All I did was state a factual statement that Bitcoin is up 190% YoY