Let's talk about Cryptocurrencies

[zamler]

There is no truly legit currency IMO.

[Winsor_Pilates]

Originally Posted by dino7c

I apologize, I may have confused you with someone else...I have been wrong about lots of things too.

I was more responding to "nobody said it was dead/worthless"

That was obviously inaccurate

No problem.
As much as I don't like your smugness, I actually think you were right on a lot in this thread and also don't understand why people who hate crypto so much come in here all the time.

Now I have to go throw up for saying Dino was right about something
Don't let it go to your head!

[GGG]

Originally Posted by zamler

I guess I can understand the bitterness. I missed out on AAPL, NVDA, AMD* and and bunch of others. Back then I never thought about investing my life was my job. I finally got smart, identified companies I saw as the next Apple and went for it.

Those opportunities still exist today but you have to think long term, 10 years.

*I owned AMD in 2004 sold at around the peak when Opteron was a thing. That's what being short sighted gets you.

You are aware that statiscally this isn’t a repeatable phenomenon. No one has shown them selves to consistently beat the market more than random chance would allow. Survivorship bias is what you are mistaking for expertise.

And higher returns based on accepting higher downside risk.

Its great you hit once but make sure you are still well diversified as now you have significantly more to lose.

[topfiverecords]

Originally Posted by Winsor_Pilates

No problem.
As much as I don't like your smugness, I actually think you were right on a lot in this thread and also don't understand why people who hate crypto so much come in here all the time.

Now I have to go throw up for saying Dino was right about something
Don't let it go to your head!

Can we get a ledger of posters that hate crypto because as much as it’s trotted out I’m not seeing much of that?

[Bill Bumface]

Originally Posted by dino7c

Lol I am up over half a mil

Don't you think it's odd more odd for people who think it's dead and meaningless to post here every day??

They are dedicating their time to proving me wrong even though they said it was done 40k ago.

If I had an investment that was up $500k the last thing I'd be doing is spending my life arguing with strangers about how great of an investment it is.

[topfiverecords]

Originally Posted by Bill Bumface

If I had an investment that was up $500k the last thing I'd be doing is spending my life arguing with strangers about how great of an investment it is.

What about those that have made more than that and are spending their life arguing with strangers how bad it is.

[dino7c]

When the debate is lost, slander becomes the tool of the loser

Math

[zamler]

Originally Posted by bill bumface

if i had an investment that was up $500k the last thing i'd be doing is spending my life arguing with strangers about how great of an investment it is.

if

This is what blows my mind, instead of learning from someone's success several here and hell bent on mocking it. I struggle to understand this.

[topfiverecords]

Originally Posted by zamler

if

This is what blows my mind, instead of learning from someone's success several here and hell bent on mocking it. I struggle to understand this.

I feel like we've been over this already at some point. Maybe roll back and see.

[Bill Bumface]

Originally Posted by zamler

if

This is what blows my mind, instead of learning from someone's success several here and hell bent on mocking it. I struggle to understand this.

There are people who have pulled in $500k at the craps table.

I'm not out there to replicate their success.

To suggest "everyone should just buy crypto and get rich, you're dumb if you don't" reminds me a lot of the Tesla craze "It's the future and you can't lose".

You can always lose, and some people will take different approaches to manage the downside potential of their investments.

[zamler]

Originally Posted by Bill Bumface

There are people who have pulled in $500k at the craps table.

I'm not out there to replicate their success.

To suggest "everyone should just buy crypto and get rich, you're dumb if you don't" reminds me a lot of the Tesla craze "It's the future and you can't lose".

You can always lose, and some people will take different approaches to manage the downside potential of their investments.

And yet we never hear what these approaches are. Horrible comparison BTW, awful.

And yes if you didn't see the value in TSLA 6 years ago (or earlier) you lost out because you didn't understand disruption and where the industry was heading. It was a no brainer on the level of Apple in 2008.

Originally Posted by GGG

Its great you hit once but make sure you are still well diversified as now you have significantly more to lose.

I can't diversify if I can't identify multiple companies I believe in long term. If you know of such companies please share.

[kevman]

But that's just it, people understood what was driving value in those companies and the potential upsides.

What's driving value in Bitcoin today? There are no assets, no revenue, and no technology to sell. It's only "value" is that of currency, which it's bad at since it's too volatile to be used in trade.

I do wish I bought in when I first heard about Bitcoin in 2017. At the time it was too risky for me. In hindsight it made some people a lot of money. That said I would have probably sold when I doubled my money and moved on. I think those days are gone though. Back then it was an unheard of entity so you had growth as people bought in. Now everyone has heard of it. There won't be an asset discovery, a technology patent, a product launch or a dividend increase to drive value - you have to wait for the heard to pump it up again.

BTC has been flat for 3 years and dating back to the pandemic has lagged behind numerous asset classes - and that's before you factor in dividends.

Happy to be wrong though, and if you've got the risk tolerance to dump your life savings into BTC today, all the power to you.

[dino7c]

Originally Posted by zamler

if

This is what blows my mind, instead of learning from someone's success several here and hell bent on mocking it. I struggle to understand this.

When the debate is lost, slander becomes the tool of the loser

[kevman]

Originally Posted by dino7c

When the debate is lost, slander becomes the tool of the loser

Originally Posted by dino7c

haha, I am owning you on this topic but okay

Originally Posted by dino7c

if you need me I'll just be coutin' these rocks bitch

Originally Posted by dino7c

We are playing hockey...I am up 10-1
you are calling me out for weak D on the 1 and that a few of my goals were lucky

Originally Posted by dino7c

/owned

the fact that even the biggest haters are scared to answer this question just gives me more reason to be confident...to the moon bitch

This isn't a good look dude.

[dino7c]

Originally Posted by zamler

I can't diversify if I can't identify multiple companies I believe in long term. If you know of such companies please share.

This times a million...I would never say put all your eggs in one basket but if you know what you are doing you need 5-10 assets to go all in on. Beyond that you are just guaranteeing mediocre results, sadly that is what we are taught. Keep the middle in the middle though, more money for the big boys.

[dino7c]

Originally Posted by kevman

This isn't a good look dude.

AFTER, long after being mocked multiple times for getting it correct, I will defend myself when pushed.

I mean we had a guy in here sending me harassing PMs

[dino7c]

Originally Posted by Bill Bumface

There are people who have pulled in $500k at the craps table.

I'm not out there to replicate their success.

To suggest "everyone should just buy crypto and get rich, you're dumb if you don't" reminds me a lot of the Tesla craze "It's the future and you can't lose".

You can always lose, and some people will take different approaches to manage the downside potential of their investments.

lol you guys still don't get it and that's fine

assuming you playing craps for 8 years straight and are ahead I guess...but you know what? if you are that good at gambling the casino bans you.

[zamler]

Originally Posted by dino7c

AFTER, long after being mocked multiple times for getting it correct, I will defend myself when pushed.

I mean we had a guy in here sending me harassing PMs

People attack, you fight back. Response is why would you do that, bad look dude.

The casino analogy is pure cope nothing else.

[Bill Bumface]

Originally Posted by zamler

The casino analogy is pure cope nothing else.

No, the point is that just because one person does something and makes money at it means everyone should.

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.

Just because that guy did it doesn't mean "why isn't everyone just doing this".

It also doesn't mean that guy was an idiot.

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.

Good for you, don't deride me or imply I'm a moron because I allocate my capital differently.

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.

[dino7c]

The same handful of posters thank every negative post about me on CP, including the guy who supposedly has me on ignore (after sending me harassing PM'S)

Like I was trying to help some people out in here

It is funny though the Casino analogy while terrible is still easy to demolish them on. There are players that take casinos for all they are worth to the point they are banned in every casino on earth with face recognition ID. Yet they apparently aren't skilled than you or I or anyone else. Just lucky?

Luck doesn't just continue for a decade haha.