Bitcoin—Keep Your Thoughts Coming…

ChicknPickn

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That thread suggested, something grand will happen with bitcoin by the end of the week. The fact is, it didn't, it happened a few days after and that, after a dip. So think about it.. there are people that probably invested based on that piece of information, and fiated on the dip loosing, while others gained and pumped up the market.

I don't try to be negative here, but there are many scenarios with crypto and there are not always positive.

If you think about crypto in term of jumping on it and making big money, you are doing the same as people hundreds of years ago turning to dig gold. Some made it big, some died, some just went by with scratches.

If you have knowledge and can piece together facts on financial markets, world news, investments or fails around the world, you may be able to predict some trends.

If you are just listening to gossip on the net, stay away from crypto. There are groups of people or whales, having huge investments in, that can rock the boat. You will invest based on gossip and loose, they will know how to rock up the price and when to pull out with a win.

If you are a daily gambler, you will sell on highs and buy on lows, trying to make marginal profit day after day.

If you put your money into it and revisit in 10-20 years, yeah, you probably will be good on with a nice return. Since 4-5 years bitcoin went from 4k to 66k as of today. Just stick to a stable coin, look up ICO's with good foundations or something with big players backing it.

There are plenty of telegram groups, where people rise their hopes and spread info or gossip.
Alternatively you can learn to analyse financial trends and read news.

I don't know if that helps anybody, but I wanted to keep it real for you all.

Well said. Tax implications for the novice day trader types can be gruesome. But, you know, everyone's a genius. Just like I was during the Dot.Com debacle.
 

tomasz

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If you are looking for an investment, I'd say, buy cheap land in the north, where the next mediterranean climate will settle in 20 years. Lots of people will want to move there :)
 

staxman

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At least for now, investing in a cryptocurrency ETF or trust within a Roth account can help with taxes. But as others have mentioned, government regulation of crypto is an unknown.
 

'64 Tele

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One of my salespeople won a sports bet. It was a $50 bet. The loser paid him in crypto currency to be a smart *ss. My sales guy ignored the payment for two years and finally looked into cashing it. He got $700. He took the $700 and bought a handgun that his wife had previously forbid. He bragged about it at work for weeks.

I have a friend who is nuts about studying this trend and she invests frequently. There's a crypto called Shiba Inu that is supposed to increase in value tremendously in January.

https://www.benzinga.com/markets/cr...rth-of-shib-as-shiba-inu-prepares-to-breakout

I'm very skeptical about crypto currency but I've heard so much about the Shiba Inu that I downloaded a phone app about I bought $100 worth. That's as far as I'll go. At this moment my Shiba Inu is worth $105.00. It's been 4 days since I blew the $100.00.

I'm actually a bit embarrassed because I'm rather old school with money or investments but it's kind of fun watching the app fluctuate. At $100 I don's consider myself to be a heavy roller. :cool:
We used to have a Shiba Inu (Japanese akita dog breed). I swear it was ADHD and chewed everything.....just saying. :rolleyes:
 

Greggorios

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I have every confidence that Bitcoin and other crypto currencies will follow the same trajectory of success as other beasts born of the internet, like Facebook, ransomware, click bait, digital warfare and the like.

"A fool and his/her/their money are soon parted."
 

Obsessed

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Let the pyramid schemes continue. Now notice the spread of numerous crypto currencies. Just like the pyramid schemes of the early 80s. The only losers are the ones caught without a chair when the music stops. :lol:

Kind of a crude game compared to stock market indexes or Lotto, but apparently we love free money without working for it.

This is going to be so much fun to watch.:twisted:
 

staxman

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Let the pyramid schemes continue. Now notice the spread of numerous crypto currencies. Just like the pyramid schemes of the early 80s. The only losers are the ones caught without a chair when the music stops. :lol:

Kind of a crude game compared to stock market indexes or Lotto, but apparently we love free money without working for it.

This is going to be so much fun to watch.:twisted:
I do have fun with investing. No one should invest more than they are willing to lose in a highly speculative play like cryptocurrency. Bitcoin is at an inflection point that could play out in unknown ways. As of late, a lot of big players like Morgan Stanley, PayPal, Square are beginning to heavily invest in Bitcoin and crypto infrastructure. Does that mean Bitcoin is the future? Perhaps not. I wouldn’t say your comments are incorrect.
 

schmee

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Before: "I ain't investing in that unless it's FDIC insured!"
Then: "It's a Pyramid group, We just gotta get some more people invested!"
Now: "Someone made up imaginary money! Let's put our life savings into it!"


I invested in Chrysler options on advice from a friend in the late 80's. I made 50% in one week!
Unfortunately, I didn't sell then, I lost 20% in the end.
Ya gotta know when to get out.
 

Greggorios

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Whether bitcoin or any other investment vehicle, PLEASE, take the time to understand the difference between "investing" and "trading" in securities. The vast majority of people have little to no business in trading securities.
 

tarheelbob

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There you go! Name calling, that's always an argument winner.

/Bob

Well, only if one self-identifies as a Neanderthal. Me? I'm definitely more of the "shake fist at cloud" and "get off my lawn" curmudgeon.

- Bob
 
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Esquire Jones

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Who's "the house," here?

I don't know, I'm asking.

For instance, the Chinese government just made BC illegal in China. They apparently didn’t like the competition.

If it presented a real threat to the currency here I would imagine everyone’s favorite Uncle Sam would step in.

But again I’m fascinated by the whole thing; not really a hater. Just not smart enough to fully understand the magic.
 

slauson slim

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Do your homework. Don’t invest if you don’t understand it. Are you willing to undertake the risk? Be skeptical about the hype. Diversify your investments.

Recent editions of The Economist newspaper have included understandable descriptions of crypto-currency and decentralized finance (de-fi), and the pros and cons.

My spouse is a director of a bank involved in investing in Bitcoin.
 

Toto'sDad

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I do have fun with investing. No one should invest more than they are willing to lose in a highly speculative play like cryptocurrency. Bitcoin is at an inflection point that could play out in unknown ways. As of late, a lot of big players like Morgan Stanley, PayPal, Square are beginning to heavily invest in Bitcoin and crypto infrastructure. Does that mean Bitcoin is the future? Perhaps not. I wouldn’t say your comments are incorrect.

I'm not WILLING to lose any amount of money! :D
 

Obsessed

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I do have fun with investing. No one should invest more than they are willing to lose in a highly speculative play like cryptocurrency. Bitcoin is at an inflection point that could play out in unknown ways. As of late, a lot of big players like Morgan Stanley, PayPal, Square are beginning to heavily invest in Bitcoin and crypto infrastructure. Does that mean Bitcoin is the future? Perhaps not. I wouldn’t say your comments are incorrect.
Companies, just like banks, can and do afford and mitigate big losses compared to the individual investor. Not much skin in the game for Morgan Stanley or PayPal, yet it makes business sense to get involved … just in case crypto currency’s takes off for awhile. Not that your comments are incorrect, but gotta keep perspective.
 




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