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Apologies BeerGeek if I sounded arrogant above when I talked about buying more if it goes down to $1k. I hope I didn’t come across that way. Just trying to point out to people that bitcoin has and will continue to behave this way. I followed it at $400 and didn’t buy because I was afraid. I wanted to buy at $13k after it fell from $20k three years ago but only bought a little then got scared. This time around I will stick to my strategy and let the chips fall however they may. I am one of them, I get scared when others get scared. But I want to change that, get aggressive when people get scared. That strategy may not work forever but i am willing to take risk. Thanks
After watching bitcoin for 7 or 8 years I finally decided to buy some today, so I'm sure the real crash is imminent. At least it's just a small amount, and my plan is to add a little every month. I have about 15-20 years until retirement, so we'll see how that strategy works out.
I stand by my strategy/view that investors with a decent size portfolio need to own some bitcoin.
Why?
There are thousands of different stocks, funds and other ways to invest.
As one example: someone who does nothing but put $500 into an S&P500 fund every month, and keep going and let it grow and reinvest, will, eventually over decades, be a multi-millionaire. That's doing one of the laziest things possible in investing. Investment contributions can be automated so the money is invested on a schedule with no further thought to it. No, it's not 'exciting,' but then I think it is exciting when you see the magic of compounding over time.
Apologies BeerGeek if I sounded arrogant above when I talked about buying more if it goes down to $1k. I hope I didn’t come across that way. Just trying to point out to people that bitcoin has and will continue to behave this way. I followed it at $400 and didn’t buy because I was afraid. I wanted to buy at $13k after it fell from $20k three years ago but only bought a little then got scared. This time around I will stick to my strategy and let the chips fall however they may. I am one of them, I get scared when others get scared. But I want to change that, get aggressive when people get scared. That strategy may not work forever but i am willing to take risk. Thanks
No problem - I didn't take it that way. I like your postings even though I disagree on bitcoin.
Ok, ok. This is why I buy bitcoin. Because lots of wealthy and “smart” people are buying them. I am just copying them. That’s it.
do you have a list of bitcoin owners and how much they own?
the value in bitcoin is fomo. people see it going up and they want to buy it so it goes up for them. i believe an actual financial transaction using bitcoin takes more than 15 minutes. so you arent going to use it to buy your groceries.
There are thousands of different stocks, funds and other ways to invest.
As one example: someone who does nothing but put $500 into an S&P500 fund every month, and keep going and let it grow and reinvest, will, eventually over decades, be a multi-millionaire. That's doing one of the laziest things possible in investing. Investment contributions can be automated so the money is invested on a schedule with no further thought to it. No, it's not 'exciting,' but then I think it is exciting when you see the magic of compounding over time.
That’s because Bitcoin can go from 30k to 300k within a few years. It went from 400 to 30k in like 6 years? SPY can’t do that. Again this is about having 1-2% of your overall portfolio not entire portfolio of course. Yes you can get similar returns on some penny stocks if you find them and time it right but that’s why too hard for me and most of us here. Bitcoin is well known.
do you have a list of bitcoin owners and how much they own?
the value in bitcoin is fomo. people see it going up and they want to buy it so it goes up for them. i believe an actual financial transaction using bitcoin takes more than 15 minutes. so you arent going to use it to buy your groceries.
And that is really my #1 argument against bitcoin. It's a currency that is difficult to use and also has huge fluctuations in value. The possibility of being outlawed is only a secondary negative.
do you have a list of bitcoin owners and how much they own?
the value in bitcoin is fomo. people see it going up and they want to buy it so it goes up for them. i believe an actual financial transaction using bitcoin takes more than 15 minutes. so you arent going to use it to buy your groceries.
I agree that there is very little commercial use of Bitcoin. I said that already. I don’t have a list of bitcoin owners, I just hear them talk about it on CNBC. Damn it, I should have known better. This Chamath guy maybe lying to me on CNBC. He is trying to make a quick bitcoin bucks off me. I have been con’ed. Ok I will go sell all of my Bitcoin now because I only bought on the premise that Chamath and Larry Miller said they own them. They maybe lying to me. Lol
I agree that there is very little commercial use of Bitcoin. I said that already. I don’t have a list of bitcoin owners, I just hear them talk about it on CNBC. Damn it, I should have known better. This Chamath guy maybe lying to me on CNBC. He is trying to make a quick bitcoin bucks off me. I have been con’ed. Ok I will go sell all of my Bitcoin now because I only bought on the premise that Chamath and Larry Miller said they own them. They maybe lying to me. Lol
yeah, i saw chamath and larry miller in the locker room the other day and they were talking about you. they are very grateful for all of the money that you have made them.
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