I can't buy into the idea that something so new and ever changing is destined to follow a cyclical pattern. There are no shortage of stocks out there with a few repeated peaks, then a long tail downwards.
I can't buy into the idea that something so new and ever changing is destined to follow a cyclical pattern. There are no shortage of stocks out there with a few repeated peaks, then a long tail downwards.
Sure but this has three booms after creation in 2009 in 2013, 2017, and 2021.
If you don't want to invest that is fine, it is risky, very risky. Probably a better bet than those stocks with long tail downwards but that isn't saying much.
Should anyone mortgage their house and buy BTC for the boom? No... But having some risky assets isn't terrible.
I invested in Eth from 2018-2020 in my TSFA and it was well worth it. I started selling off too soon though so I only made 4x vs the 10-15x I could have, opps.
I can't buy into the idea that something so new and ever changing is destined to follow a cyclical pattern. There are no shortage of stocks out there with a few repeated peaks, then a long tail downwards.
I could be wrong (and often am) but isn't Bitcoin designed this way, with a cyclical cycle due to its halving every 4 years. Simple supply and demand?
This current drop was even somewhat predictable due to the overall characteristics of the halving cycle.
Presumably if you still see it going to a million in 9 years, you'd be shovelling every dollar you have into it, no? Or do you recognize risks that make that a poor choice?
Nah, I have never argued against diversification...I have said multiple times I haven't bought any Bitcoin since early 2017. (when this thread mocked peak bubble $1500 bitcoin) When you amass a certain amount it doesn't make sense to buy more. I have about 50 investments I think will go up exponentially in the next 10 years or so. If only 30 of them hit I will be laughing.
I can't lose on crypto, I have already taken out more than my initial investment and spread it out among other things.
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Last edited by dino7c; 05-12-2022 at 01:00 PM.
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As you might expect Blackberry's stock collapsed in 2010 from its high of 137 to 6 or 7 dollars a stock but Blackberry still beats out the Dow Average even though it is little more than a research company with patent fees now, as an investment it always had intrinsic value, the problem with individual cryptos rather than cryptos in general is they dont have any intrinsic value, when they fall they can fall to nothing
Nah, I have never argued against diversification...I have said multiple times I haven't bought any Bitcoin since early 2017. (when this thread mocked peak bubble $1500 bitcoin) When you amass a certain amount it doesn't make sense to buy more. I have about 50 investments I think will go up exponentially in the next 10 years or so. If only 30 of them hit I will be laughing.
I can't lose on crypto, I have already taken out more than my initial investment and spread it out among other things.
The good old Musk strategy, the thing is Musk tends to yell loudly about things that aren't related to his products (just to get attention and remind people he is there) and fix the products when stuff is reported.
I'm far from an expert on cryptocurrency, but it seems to have lost it's way. The whole intent of cryptocurrency was to replace a flawed fiat currency system. This latest collapse started when UST became "depegged" from the US dollar as I've read. This seems very ironic to me.
There's ~7800 cryptocurrencies out there. It appears to me, the main goal of a lot of people is to get in early on the latest crypto currency, hope it goes on a run, then get out back into the safe haven of a fiat currency....."I just made $xxxxx on yyyy crytpo!"..... Again, very ironic to me.
The crypto market is similar to penny gold mining stocks. Instead of pumping the next great lease, white papers are pumped instead. Beware of Bre-x
Until crypto's move from being a valueless commodity to what it was actually intended to be - a form of currency, these wild swings are inevitable.
Wow. Looks like the end for Terra. The blockchain was halted and Binance halted trading. UST’s at $0.15 and Luna’s at $0.0000922. Luna was at $78 a week ago and over $100 just over a month ago.
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The Delhi police have announced the formation of a crack team dedicated to nabbing the elusive 'Monkey Man' and offered a reward for his -- or its -- capture.
I'm far from an expert on cryptocurrency, but it seems to have lost it's way. The whole intent of cryptocurrency was to replace a flawed fiat currency system. This latest collapse started when UST became "depegged" from the US dollar as I've read. This seems very ironic to me.
There's ~7800 cryptocurrencies out there. It appears to me, the main goal of a lot of people is to get in early on the latest crypto currency, hope it goes on a run, then get out back into the safe haven of a fiat currency....."I just made $xxxxx on yyyy crytpo!"..... Again, very ironic to me.
The crypto market is similar to penny gold mining stocks. Instead of pumping the next great lease, white papers are pumped instead. Beware of Bre-x
Until crypto's move from being a valueless commodity to what it was actually intended to be - a form of currency, these wild swings are inevitable.
Sort of the catch-22 here. How will anyone think crypto is a viable currency with such wild fluctuations?
No... But having some risky assets isn't terrible. 
