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can you imagine if the stock market was down 62% from it's high this year ?
the big difference is we know markets have a history of bouncing back rather quickly . we have nooooooo history of crypto ever bouncing back .
like with stocks and commodities markets have no memory of where they once were , but the owners sure do . regardless of what you bought in at if you held it when it peaked , down 62% is down 62% regardless of the fact i am still up from where i started life. .
it does not matter that i started out investing in equities 30 years ago with just a few thousand dollars and today it is 7 figures , if we fell that much that is all my money that evaporated until it bounces back .
it is a speculation as to where crypto goes but the fact it hit 20k and at 7500 crypto investors are licking their lips awaiting that return , they have to remember that markets have no memory where they once were, gold took 28 years to get back to it's 1980 high .
so speculating in crypto is fine as long as you don't look at it as you would investing in established asset classes with long histories .
You clearly don't follow Bitcoin or Cryptocurrency, Bitcoin has died countless times, how about when it went from $1200 down to $100 or how about when it went down to $6,000 and then back up to $19,000. Bitcoin has died over 300 times..
estimates are 40 billion in virtual coins . according to this article in fortune magazine don't count on always being fully reimbursed or even reimbursed in coins . some have been given stock in the parent company after having more than 1/3 of their investment value reduced . .
While exchanges in the crypto space are becomming more legitimate, soon Coinbase is going to be the same caliber as say a Schwab in terms of how its regulated, insured, etc, however in the past and even still to this day common sense and Bitcoin "best practices" is to hold your own coins on a hardware wallet and not to trust an exchange.
I have not seen a chart on Ethereum. What is it's all time high?
In the past year its been as high as $1340 give or take a few bucks depending upon what exchange were talking, and as low as $170. I'ts had some ups and downs. Personally Ethereum is probably the coin I'm most bullish on in regards to coins in the top 10
Put $750 on Ethereum
Put $150 on Bitcoin
Put $100 on Litecoin
We will see what happens. It is throw away money and I thought I would take a chance. Hopefully I at least make my money back. I think Bitcoin is too hot and Ethereum or another Crypto will be the one to rise.
Put $750 on Ethereum
Put $150 on Bitcoin
Put $100 on Litecoin
We will see what happens. It is throw away money and I thought I would take a chance. Hopefully I at least make my money back. I think Bitcoin is too hot and Ethereum or another Crypto will be the one to rise.
Will update this thread periodically.
Interesting that Mr. Fighting Fungus hasn't come back to update this thread periodically.
Well, why not do it for him!
We don't know at what price point Mr. FF bought into the above cryptocurrencies, but we can take a guess by assuming he bought a day or two before his December 19 post.
December 17 Bitcoin closed at $17,900. Assuming FF bought at the closing price, he bought 0.008380 Bitcoin.
Today's Bitcoin price was around $6,350.62, or a value to FF of $53.22 if he hasn't sold yet. The unrealized loss is $96.78.
The price of Ethereum was around $562 in mid-December. That would have given Mr. FF 1.3345 Ethereum. Ethereum is currently around $441.84, for a value to Mr. FF of $589.64. The unrealized loss (if he hasn't sold yet) is $160.36.
Litcoin was around $313.319 on December 18. Assuming that price, Mr. FF bought 0.3192 Litcoin. At today's price, around $78.61, Mr. FF is sitting on a value of $25.09, for an unrealized loss (if he hasn't sold yet) of $74.91.
Wow. Quite the success story. Not sure why the OP hasn't come back to bragg about his success; you know, post to boast.
The unrealized loss (if still held) of this amazing portfolio is $332.05 on an "investment" of $1,000. If my math is correct, that would be a "return" of -33.2%, right?
This is all speculation, of course. I didn't figure in the dividends being kicked off by those cryptos.
I can see him tripping over himself pressing that "deposit" button thinking he was going to be a bitcoin millionaire.
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