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I'm slapping myself for getting rid of all my crypto assets when I got my house.
Have you seen BitCoin recently? It's over $32,000 right now. Hard to believe that it was well under $100 less than ten years ago, and I considered investing in it back then. What a dumbass.
Anyways, all other Crypto has been booming lately too. I can't tell if it's due to the political changes coming in the USA or what. I'm thinking it'll tank eventually.
I had almost a million Dogecoin at one point and got rid of all of those. Over the weekend the fiat value of doge more than doubled.
Another one I had some interest in was Ethereum, but I only had 3-4 Ethereum 'coins' and got out of it when it hit $400. Now they're worth over $1100.
Anyone else have any crypto holdings? And is anyone else a moron for getting rid of them? | |
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I got BTC...
Gotta crash ...right? | |
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JiK MAZZ
Super Regular
WMD Creator
|  | | P: | 01/06/2021 09:30 EST |
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Nothing is foolproof. Lots of very intelligent people invested in other currencies that went bust. It’s only easy to pick the winners from the losers in hindsight.
https://theconversation.com/more-than-1-000-cryptocurrencies- have-already-failed-heres-what-will-affect-successes-in-futur e-127463
https://www.forbes.com/sites/simonmoore/2019/05/28/how-to-tel l-if-your-cryptocurrency-will-go-bust/
Of course, just like any other investment, if you understand the risks and are willing to take them there’s nothing wrong with that.
The thing that drives me nuts is the huge number of people who don’t really understand what they’re doing but they gamble their money anyway. I’ve met many people who made some money in stocks and yet the reason they made the money has nothing to do with their own skill at choosing investments, and they don’t realize that until they have a big loss. It reminds me of my 18th birthday. I bought my first scratch off lottery ticket and won $100. You can be certain I lost far more than $300 over the next two years on scratch offs. Obviously I knew that the odds of winning scratch off‘s are bad, but the thrill of winning something trivialized those bad odds for a while until I realized I was consistently losing. | |
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 | -[IBSC]-iLluSiON- wrote:
Have you seen BitCoin recently? It's over $32,000 right now. Hard to believe that it was well under $100 less than ten years ago, and I considered investing in it back then. What a dumbass. | |
As some used to say, hindsight is 20/20. We make decisions based on the information that is available to us. A "dumb" move today was yesterday's "sensible" move.
If I have a Palantir that can tell me where various cryptocurrencies are headed, I'd be busy locking in my potential gains right about now.
| -[IBSC]-iLluSiON- wrote:
I'm thinking it'll tank eventually. | |
A market correction, perhaps. | |
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gg#4
Super Regular
Killer Scout
| | | P: | 01/06/2021 10:35 EST |
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I only ask my clients to not judge me on my winners. I ask that they judge me on my losers because I have so few of them | |
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Matt_tfc
Super Regular
Shotgun Quick
Draw
| | | P: | 01/06/2021 19:01 EST |
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| Ritual_Masturbator wrote:
As some used to say, hindsight is 20/20. We make decisions based on the information that is available to us. A "dumb" move today was yesterday's "sensible" move.
If I have a Palantir that can tell me where various cryptocurrencies are headed, I'd be busy locking in my potential gains right about now. | |
Agreed. It's pretty much a gamble, like the stock market. IMO, If you want to make good money over the long haul, look to real estate, especially rental properties. The risk is much less then other things I've spent countless hours investing in, such as stocks/cryptocurrency/forex market. | |
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