How far will bitcoin and other cryptos fall?
-
@tim_g said in How far will bitcoin and other cryptos fall?:
Ha...
Meanwhile my 401k and WealthFront investments are skyrocketing!
At this point in the Bitcoin lifecycle... I'd say it's better to leave that crap behind (unless you are an early investor, I'd say to sell after this dip), and go stocks instead.
There is a post of me on spiceworks back in like 2013 talking alot of shit about bitcoin and other crypto. I thought it was BS for the longest time, and it may still be BS. I dont care as long as you can make money off the BS. The fact of the matter is you cannot make the same amount of returns anywhere else. Yes you could lose your shirt just as easy, but it is much much easier to turn several hundred into thousands with crypto vs stocks. I will be the first to admit I was wrong.
There seems to be alot of bitter people who didnt get involved early in crypto who just constantly bash it ( I was one of them). It's hard to compare crypto with stocks. They have alot of similarities, but there are also alot of differences. You dont have to be a financial guru to make great returns with crypto, and I am definitely not a financial guru. Also, it is extremely cheap to get started. You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
-
@irj said in How far will bitcoin and other cryptos fall?:
You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
This. Again, if you just look at it as a hobby, it can be quite fun, and be low stress if you kept your initial investments low.
-
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
Ha...
Meanwhile my 401k and WealthFront investments are skyrocketing!
At this point in the Bitcoin lifecycle... I'd say it's better to leave that crap behind (unless you are an early investor, I'd say to sell after this dip), and go stocks instead.
There is a post of me on spiceworks back in like 2013 talking alot of shit about bitcoin and other crypto. I thought it was BS for the longest time, and it may still be BS. I dont care as long as you can make money off the BS. The fact of the matter is you cannot make the same amount of returns anywhere else. Yes you could lose your shirt just as easy, but it is much much easier to turn several hundred into thousands with crypto vs stocks. I will be the first to admit I was wrong.
There seems to be alot of bitter people who didnt get involved early in crypto who just constantly bash it ( I was one of them). It's hard to compare crypto with stocks. They have alot of similarities, but there are also alot of differences. You dont have to be a financial guru to make great returns with crypto, and I am definitely not a financial guru. Also, it is extremely cheap to get started. You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
I never said you can't make money from Bitcoin. I know you can. There are lots of bad ways to make money, and lots of bad ways to lose money. The method is up to each person. Personally, I'd rather deal with real money.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
Ha...
Meanwhile my 401k and WealthFront investments are skyrocketing!
At this point in the Bitcoin lifecycle... I'd say it's better to leave that crap behind (unless you are an early investor, I'd say to sell after this dip), and go stocks instead.
There is a post of me on spiceworks back in like 2013 talking alot of shit about bitcoin and other crypto. I thought it was BS for the longest time, and it may still be BS. I dont care as long as you can make money off the BS. The fact of the matter is you cannot make the same amount of returns anywhere else. Yes you could lose your shirt just as easy, but it is much much easier to turn several hundred into thousands with crypto vs stocks. I will be the first to admit I was wrong.
There seems to be alot of bitter people who didnt get involved early in crypto who just constantly bash it ( I was one of them). It's hard to compare crypto with stocks. They have alot of similarities, but there are also alot of differences. You dont have to be a financial guru to make great returns with crypto, and I am definitely not a financial guru. Also, it is extremely cheap to get started. You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
I never said you can't make money from Bitcoin. I know you can. There are lots of bad ways to make money, and lots of bad ways to lose money. The method is up to each person. Personally, I'd rather deal with real money.
But you aren't, you're dealing in stocks.
-
@fuznutz04 said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
This. Again, if you just look at it as a hobby, it can be quite fun, and be low stress if you kept your initial investments low.
I started out with $50 and played with it like I had $50k. I pretended like 3% losses/gains were significant. It was great practice.
-
@irj said in How far will bitcoin and other cryptos fall?:
@fuznutz04 said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
You can start out with as little as $20 to $50. Maybe it is a poor man's stock game, but as long as you can make some profit what else matters?
This. Again, if you just look at it as a hobby, it can be quite fun, and be low stress if you kept your initial investments low.
I started out with $50 and played with it like I had $50k. I pretended like 3% losses/gains were significant. It was great practice.
Good strategy.
-
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
-
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
It's not negative either, until he pulls it out.
-
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
And that value is based on what you can pull out. Otherwise, the logic would say that any money you keep in a bank is worth nothing.
-
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
No, that's not how I've meant it. For example, I'm negative LOTs of money with 401k and other investments because they aren't actually dollars yet.
It's merely out of curiosity.
-
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
It's not negative either, until he pulls it out.
It is, his bank account is now $95 less than it was before he bought (in that example), because he spent $100 of it, and put $5 back later. Of course, now in cryptocurrencies, he's at $195 worth, which I get. But that's not my question.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
No, that's not how I've meant it. For example, I'm negative LOTs of money with 401k and other investments because they aren't actually dollars yet.
It's merely out of curiosity.
Dollars aren't magic, though. That value is just as valid when it is a bond, equity, currency, etc.
One could, in fact, argue that dollars have no value and only BitCoin does and dollars can't be valued until you turn them into BitCoin. It's all arbitrary goods and the value is what the value is regardless of media.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
It's not negative either, until he pulls it out.
It is, his bank account is now $95 less than it was before he bought (in that example), because he spent $100 of it, and put $5 back later. Of course, now in cryptocurrencies, he's at $195 worth, which I get. But that's not my question.
Actually that's not true. He just moved value from one bank account to another bank account. The total value is still the same.
-
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
No, that's not how I've meant it. For example, I'm negative LOTs of money with 401k and other investments because they aren't actually dollars yet.
It's merely out of curiosity.
Dollars aren't magic, though. That value is just as valid when it is a bond, equity, currency, etc.
One could, in fact, argue that dollars have no value and only BitCoin does and dollars can't be valued until you turn them into BitCoin. It's all arbitrary goods and the value is what the value is regardless of media.
Well yeah, currency is only as valuable as what you can do with it.
One could say they could exchange a dollar for a loaf of bread at the store, but not with a bitcoin... making the bitcoin valueless.
One could also say they could buy some drugs online with their bitcoin, but not with a dollar, making the dollar valueless.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
@scottalanmiller said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
@irj said in How far will bitcoin and other cryptos fall?:
I made 75% increase on flashcoin in about 4 hours!!! I literally looked at what took the lowest hit and bought it at absolute low. Bought around lunchtime and sold for 75% increase
How many actual dollars have you made so far with cryptocurrency... dollars you've spent on cryptocurrency vs dollars you've gotten back so far?
For example, if you spent $100 on cryptocurrencies, and it doubled, but you've only converted $5 of it back to actual dollars... the answer is none... you're still negative $95. That's the number I'm interested in.
Bitter much? I mean come on man.... You laughed at me for buying in a shit market a couple hours ago.
If you most know, zero actual dollars. I pulled my $50 investment out, but now I own crypto currency that you are gonna say is worth nothing. However, I believe that is wrong.
Although, you do have a point, I made a lot of money and got a little greedy when it pumps. I probably should have took more put, but my initial investment is still 10x in crypto value.
No, that's not how I've meant it. For example, I'm negative LOTs of money with 401k and other investments because they aren't actually dollars yet.
It's merely out of curiosity.
Dollars aren't magic, though. That value is just as valid when it is a bond, equity, currency, etc.
One could, in fact, argue that dollars have no value and only BitCoin does and dollars can't be valued until you turn them into BitCoin. It's all arbitrary goods and the value is what the value is regardless of media.
Well yeah, currency is only as valuable as what you can do with it.
One could say they could exchange a dollar for a loaf of bread at the store, but not with a bitcoin... making the bitcoin valueless.
One could also say they could buy some drugs online with their bitcoin, but not with a dollar, making the dollar valueless.
Exactly. I get why people see USD as the more utilitarian of the two. But the concept of the valuation is that that is the amount you can get of USD for it right now. So that's the real value, unless you don't trust the exchange rate, which is a different matter. That's like not trusting the price tag on the bread - sure it sais $.99 but maybe they charge you $1.49 at the register, darn them.
But it's not like having a Bitcoin and saying "someday this will be worth a fortune, so I have a fortune now", it's "this is the amount of USD I would have right this second if I needed it." And for all intents and purposes that is true. It might fluctuate in a split second, but so might the USD.
-
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility, which also includes the risk of it going away completely. I don't feel potential gains are worth the risk at this point of it's lifetime, and feel I'm comfortable making less in less volatile ways.
Sure, I wouldn't mind poking it with a stick for shits 'n giggles... but I'm not going to put it under my pillow if you know what I mean.
-
@tim_g said in How far will bitcoin and other cryptos fall?:
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility, which also includes the risk of it going away completely. I don't feel potential gains are worth the risk at this point of it's lifetime, and feel I'm comfortable making less in less volatile ways.
Sure, I wouldn't mind poking it with a stick for shits 'n giggles... but I'm not going to put it under my pillow if you know what I mean.
Put in $20-50 and play with it. If nothing else it's just cheap entertainment.
-
@irj said in How far will bitcoin and other cryptos fall?:
@tim_g said in How far will bitcoin and other cryptos fall?:
To me, the Bitcoin is like a bizarre and risky stock that I would most likely avoid long-term investment due to its volatility, which also includes the risk of it going away completely. I don't feel potential gains are worth the risk at this point of it's lifetime, and feel I'm comfortable making less in less volatile ways.
Sure, I wouldn't mind poking it with a stick for shits 'n giggles... but I'm not going to put it under my pillow if you know what I mean.
Put in $20-50 and play with it. If nothing else it's just cheap entertainment.
This is what I'm doing. I had ~$110 before the crash. Last time I checked it was worth $86, lol.
