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It's speculation you can lose money on anything I had companies go bankrupt when that happens all stock holders of equity shares lose their investment. I don't see the difference really you can speculate in higher risk and low risk stocks. I would consider bitcoin to be higher risk investment.
Most naive investors buy when they hear about it which is when something peaks they watch the value sink and get angry when they lose money.
If you don't want to worry about it just use mutual funds and turn it over to someone who auto invests it.
That is true. My main point was just in comparing risk, bitcoin is closer to options and penny stocks from a risk standpoint than more generic stock trading.
A lot of my friends lost a lot of money recently in Bitcoin. Yes, they really lost because they were forced to sell. The inflation is forcing people to cash in their chips. I'm deeply worried about some of the people in my inner circle of friends. I know the old saying, a fool and their money soon part ways. Some of my friends do foolish things. I am not perfect either, but luckily I was so damn late to that party, I never showed up. I contemplated getting one of those wallets so I could accept payment from customers. Now, there is no way that's happening.
Bitcoin seems no better than a piece of paper backed by a promise, unless someone can convince me I am wrong about that and this is just a temporary glitch. I have no horse in this race other than I do want to make transactions as easy as possible for my customers. Outside of that, I honestly don't care. I'm just a natural born skeptic of the "next great promise".
I will say, some of these people would have not had much money to lose to begin with, because they would have been working just a low paying 9 to 5. So there is that to consider as well.
I am constantly amazed at the idiots who invest in things they do no understand and buy over-valued assets.
Several docs at the hospital got cleaned out by losses in crypto. Those same individuals chuckled at me for owning lots of farmland and shunning equities at exorbitant prices!
Everybody likes to invest in things when they are sky high and hate them when they are cheap.
Well.................. people will get an opportunity to invest in equities again when the Dow dips to well below 18,000 before Biden is through with us.
There does not appear to be any economic light at the end of the tunnel until 2024. 2023 and the balance of this year will be tough times for Americans.
Well, it wasn't a trap for the people who made millions, hundreds of millions and maybe even a billion dollars off of it, of course they got in when bitcoin was $1 or less and got out years ago and are now laughing their butts off, enjoying that early retirement!
The price of bitcoin is still pretty good compared to just two years ago. June 2020 it was in the 9K range. I think it's expected that it's more volatile than other investments, it's going to have larger swings. Why were your friends forced to sell because of inflation? I'm still holding and buying more.
It's value has been largely buoyed by a lot of people pushing into it with hopes of striking it rich.
If you think it just has to go back up and you're comparing it to an arbitrary point in time of 2 years ago instead of a month ago you'd best hope that the people getting burned badly now doesn't sour folks on speculative crypto investments in the future.
We have another thread where people posted "wow, it's down to 32k, time to buy more!" and so forth.
For a lot of older people that were around to see the dotcom crash of 23ish years ago there are a lot of parallels. The biggest is "the vibe", the exuberance and the demographics.
That is true. My main point was just in comparing risk, bitcoin is closer to options and penny stocks from a risk standpoint than more generic stock trading.
It's a perceived risk if you look at the volatility index of bitcoin find it's not as volatile as one thinks. Price has gradually increased over the years. I'm mostly talking about bitcoin in general not the other less well known.
Gold investment is the same way naive investors here about gold investing on a right wing AM radio show maybe they are listening to Alex Jones. They buy near the peak get angry when price falls blame it on Biden and sell at a loss.
A lot of my friends lost a lot of money recently in Bitcoin. Yes, they really lost because they were forced to sell. The inflation is forcing people to cash in their chips. I'm deeply worried about some of the people in my inner circle of friends. I know the old saying, a fool and their money soon part ways. Some of my friends do foolish things. I am not perfect either, but luckily I was so damn late to that party, I never showed up. I contemplated getting one of those wallets so I could accept payment from customers. Now, there is no way that's happening.
Bitcoin seems no better than a piece of paper backed by a promise, unless someone can convince me I am wrong about that and this is just a temporary glitch. I have no horse in this race other than I do want to make transactions as easy as possible for my customers. Outside of that, I honestly don't care. I'm just a natural born skeptic of the "next great promise".
I will say, some of these people would have not had much money to lose to begin with, because they would have been working just a low paying 9 to 5. So there is that to consider as well.
A lot of your friends were forced to sell? A lot? Really?
I am constantly amazed at the idiots who invest in things they do no understand and buy over-valued assets.
Several docs at the hospital got cleaned out by losses in crypto. Those same individuals chuckled at me for owning lots of farmland and shunning equities at exorbitant prices!
Everybody likes to invest in things when they are sky high and hate them when they are cheap.
Well.................. people will get an opportunity to invest in equities again when the Dow dips to well below 18,000 before Biden is through with us.
There does not appear to be any economic light at the end of the tunnel until 2024. 2023 and the balance of this year will be tough times for Americans.
For crypto, only invest what you can afford to lose.
Of course it was a trap, and a ponzi scheme. Bitcoin is a 'currency' that is very difficult to use, and it if got too big, was at risk of the government stepping in and shutting it down. It was also nothing more than buy it and hope the next guy pays more for it. Eventually the next guy stopped paying more.
now under $18K/
Not good for the stock market Tuesday
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