Let's talk about Cryptocurrencies

[zamler]

Originally Posted by afc wimbledon

No one has said crypto is worthless, it is worth 55 today, it was worth 22 a year ago and 77 a year before that, what everyone is saying (including yourself with your last post) is that it's value is utterly based on how people feel about it, it's value isnt based on anything in particular but the market's perception of its wealth, Microsoft's value has massively increased due to its lead in AI, if Google drops an AI that is massively better than Microsoft's them it's value as a company drops and Google improves.

BTC has none of that, it's value, even events that should increase its value, halfing, ETF's etc are all based solely on the idea that people will value it more, they are all built on the same basic premise, that it will go up in value because it has before, now obviously it might, but if perception of value is all an asset has to give it value then it can also just as easily lose its value if the market decides it isnt going to go up, if it loses value for any length of time it can snowball into a total collapse, the whole thing is predicated on feelings, that makes it vunerable to wholesale loss

Is this why you never invested? How did that work out for you?

Put another way, who gives a ####? Would you rather have a death grip on your ideals or make money? I made a bunch of cash on LCID I never believed in the company.

[dino7c]

Originally Posted by afc wimbledon

No one has said crypto is worthless, it is worth 55 today, it was worth 22 a year ago and 77 a year before that, what everyone is saying (including yourself with your last post) is that it's value is utterly based on how people feel about it, it's value isnt based on anything in particular but the market's perception of its wealth, Microsoft's value has massively increased due to its lead in AI, if Google drops an AI that is massively better than Microsoft's them it's value as a company drops and Google improves.

BTC has none of that, it's value, even events that should increase its value, halfing, ETF's etc are all based solely on the idea that people will value it more, they are all built on the same basic premise, that it will go up in value because it has before, now obviously it might, but if perception of value is all an asset has to give it value then it can also just as easily lose its value if the market decides it isnt going to go up, if it loses value for any length of time it can snowball into a total collapse, the whole thing is predicated on feelings, that makes it vunerable to wholesale loss

You might want to re-evaluate who you have been agreeing with and thanking posts of. BTC is worthless and dead according to them. We have post history.

Peak bubble was $3k its over man like years back. The value of BTC is the hands that hold it, do some research on who is buying BTC and who holds the most of it. It's not dying guys, it will fluctuate but it's not going anywhere. I tried to help people out and was attacked so here we are.

[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.

[dino7c]

Originally Posted by jammies

I don't. A giant waste of resources that accomplished nothing useful, let those who contributed to the bubble provide a lesson to others. Not that it'll make any long-term difference, but the schadenfreude still tastes sweet.

Posted in 2018 with a $6000 BTC

thanked by the usual suspects

[afc wimbledon]

Originally Posted by zamler

Is this why you never invested? How did that work out for you?

Put another way, who gives a ####? Would you rather have a death grip on your ideals or make money? I made a bunch of cash on LCID I never believed in the company.

I'm 62, I tend to invest my life, because at 62 you cannot replace your savings if you eff them up the way you can at 30 and I dont fancy sleeping in a tent in Crab Park, in secure dividend paying shares and ETF's, I have a 10% 'wtf' fund I put on chancers, that's where my weight loss drug money went and that's paying me a fortune, I did make money on Crypto but I applied the gold rush rule, the guys that made money weren't the miners it was the guys that sold the shovels, I made a mint on NVIDIA because of crypto.

I'm old enough to remember and even made and lost money on the dot com boom, alot of people made a ton of money on those worthless grifts, it was all very Wolf of Wall St, hookers and blow everywhere and all that money is gone, the companies all worthless, crypto will probably be your generations dot com, doesnt mean you can't make many fleecing rubes yourself, it just means it's a bubble

[dino7c]

Originally Posted by fuzz

i have a nice line on some tulips if you are interested...i hear they are due for a bump.

2018

[zamler]

Originally Posted by dino7c

Posted in 2018 with a $6000 BTC

thanked by the usual suspects

Wow that's very unfortunate.

[dino7c]

Originally Posted by winsor_pilates

dang, going to zero soon i'd guess.
So glad i didn't get into the bitcoin hype when every random person i met wanted to sell it to you like a drug dealer.

2018

[Roof-Daddy]

Haha wow

It's funny to read these posts from 2018 and then see the smugness from the same posters now.

How can you be that wrong back then but still show up in this thread now to pile on the guy who was obviously right?

[topfiverecords]

Originally Posted by zamler

Only people that say crypto is worthless are people that haven't made any money on crypto.

You’re failing to distinguish. BTC isn’t crypto. Crypto isn’t BTC.

[topfiverecords]

dino probably responding to my posts and thinking I’m reading his responses is hilarious.

[zamler]

Originally Posted by topfiverecords

You’re failing to distinguish. BTC isn’t crypto. Crypto isn’t BTC.

Oh I see. So if you bought DOGE 6 years ago your investment would be at $0.

[topfiverecords]

Originally Posted by zamler

Oh I see. So if you bought DOGE 6 years ago your investment would be at $0.

Just continual broken record bull####. “Crypto is dead” “Crypto is dead” “Crypto is dead” and zero ability to converse about the differences between them. A lot of the views one way are about BTC not the entirety of crypto. Only one side of this debate makes any effort to separate. Hence why there’s one side having a discussion and the other side coming in seething like one who’s whole life is entrenched into a MLM scheme and there are views being expressed against it.

If only broken records were worth $45k you guys could be trillionaires.

[zamler]

Originally Posted by topfiverecords

Just continual broken record bull####. “Crypto is dead” “Crypto is dead” “Crypto is dead” and zero ability to converse about the differences between them. A lot of the views one way are about BTC not the entirety of crypto. Only one side of this debate makes any effort to separate. Hence why there’s one side having a discussion and the other side coming in seething like one who’s whole life is entrenched into a MLM scheme and there are views being expressed against it.

If only broken records were worth $45k you guys could be trillionaires.

Tell me how to invest, give me a strategy. Clearly I have no understanding of anything and am a broken record. School me I'm listening.

[dino7c]

Originally Posted by topfiverecords

dino probably responding to my posts and thinking I’m reading his responses is hilarious.

yet he still talks about me...rent free. I get it he couldn't stand the heat. This is why I love math. It doesn't care about your personal digs or insults its just math. There is no debate in math, the numbers are the numbers and the numbers are on my side and IMO will continue to be.

[dino7c]

Originally Posted by zamler

Tell me how to invest, give me a strategy. Clearly I have no understanding of anything and am a broken record. School me I'm listening.

He goes to a bank and has someone not good enough at managing money to not have a day job manage his finances for a cool 5% a year.

[topfiverecords]

Originally Posted by zamler

Tell me how to invest, give me a strategy. Clearly I have no understanding of anything and am a broken record. School me I'm listening.

I’m not here to tell people what to do or not do with their money. I don’t insist that others take my advice on anything and then rail on it for several years when they don’t give a crap about what I have to say. I’m also not here to publicize my financial position because I don’t need recognition from an internet forum.

[dino7c]

Yet here he is again and again and again to tell us how dumb Crypto is

Math

There is a thread about rap music on CP, I hate Rap music. Do I go in there daily to tell them how much it sucks? Nope I just don't go in that thread.

[Winsor_Pilates]

Originally Posted by dino7c

2018

Wow, interesting you found that.
As I've recently posted, I did end up buying in a few years ago and changed my tune. Not afraid to admit that, I was wrong about it and should have bought sooner.

Thankfully for me I've done very well and Vancouver real estate which I work in and understand better, so my investments have been just fine. I don't lose sleep thinking about the crypto I didn't buy.

I still feel Bitcoin is all speculation, but have come to realize that in itself is/was enough to make it a profitable investment. I was being too logical about it.

[dino7c]

Originally Posted by Winsor_Pilates

Wow, interesting you found that.
As I've recently posted, I did end up buying in a few years ago and changed my tune. Not afraid to admit that, I was wrong about it and should have bought sooner.

Thankfully for me I've done very well and Vancouver real estate which I work in and understand better, so my investments have been just fine. I don't lose sleep thinking about the crypto I didn't buy.

I still feel Bitcoin is all speculation, but have come to realize that in itself is/was enough to make it a profitable investment. I was being too logical about it.

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