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Bought Bitcoin and can't stop !!!

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  • Avatar Doc Spouse 
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    Forbes had a great article yesterday discussing the difference between systemic stability and price stability as it applies to Bitcoin, stablecoins like Libra, and actual central bank currency.

    #226526 Reply
    The White Coat Investor The White Coat Investor 
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    Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle.  Just like a slot mechine to me.

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    Its a fun bet as long as it’s money which you do not need.  You don’t even have to travel to a casino.

    Click to expand…

    At that point you’ve got to ask yourself if it is more fun than something else you spend money on. I can think of a LOT more fun ways to spend money than gambling with it.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #226547 Reply
    Avatar Raddoc123 
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    It’s ok

    Up 12% one day and down 8% the next day without apparent reason, is too much for me to handle.  Just like a slot mechine to me.

    Click to expand…

    Its a fun bet as long as it’s money which you do not need.  You don’t even have to travel to a casino.

    Click to expand…

    At that point you’ve got to ask yourself if it is more fun than something else you spend money on. I can think of a LOT more fun ways to spend money than gambling with it.

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    It’s ok as long as it’s money you can lose and you can still do those fun things you mention.  Plus bitcoin is not lose all or win like a casino.  I don’t think it’s going to zero anytime soon or ever.  It’s got a lot of supporters worldwide and plenty of market manipulation to keep it going 😀

    #226553 Reply
    CordMcNally CordMcNally 
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    Can I take the bet that it’ll never go to zero? I may not be alive to win that bet but it’ll go to zero or cease to exist at some point like every other company around today. Time is undefeated.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #226600 Reply
    Liked by DCdoc, Zaphod
    The White Coat Investor The White Coat Investor 
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    I wouldn’t be surprised at all if 50 years from now there is a cryptocurrency in regular use.

    I think the likelihood of it being Bitcoin is very, very low.

    Will you be able to exchange Bitcoin to that currency at a price at or above Bitcoin’s current price at some point in the future after it becomes obvious that Bitcoin will not be the winner? Maybe, maybe not.

    Site/Forum Owner, Emergency Physician, Blogger, and author of The White Coat Investor: A Doctor's Guide to Personal Finance and Investing
    Helping Those Who Wear The White Coat Get A "Fair Shake" on Wall Street since 2011

    #226758 Reply
    Avatar burritos 
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    Back to 10,000 per coin. Made a bet with my BIL a crypto bug that S+P will be higher than crypto in 2 years. I might lose?

    #243253 Reply
    Avatar Dont_know_mind 
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    My bitcoin and Tesla indicator is still hobbling along. I guess when they both carc it, I should start to get worried.

    #243353 Reply
    Avatar Jack_Sparrow 
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    I always made fun of people who got into Bitcoin. (Especially if you understand how far behind Bitcoin is in terms of technology.. )and its a Ponzi scheme and seems to be beneficial for mob dealers, North Korea, etc. … but FOMO was too much for me. I got in earlier this year….. within a week I had lost 25% of my investment.. got out… Felt stupid for ever getting in.

    #243393 Reply
    Avatar Doc Spouse 
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    I always made fun of people who got into Bitcoin. (Especially if you understand how far behind Bitcoin is in terms of technology.. )and its a Ponzi scheme and seems to be beneficial for mob dealers, North Korea, etc. … but FOMO was too much for me. I got in earlier this year….. within a week I had lost 25% of my investment.. got out… Felt stupid for ever getting in.

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    I’m sorry about the loss, but if it’s your first foray into crypto and you’re out after a week, you’re probably going to have a bad time. 😉  I’m down about 50% from two months ago, but up 20% from six months ago (alt coins are my thing).  The swings are real.

    I’ve said it before, but I still wouldn’t throw any serious money into it, especially if you don’t live and breathe the stuff.  It’s just too chaotic to be considered a real investment.  It’s fun, though.

    #243454 Reply
    Avatar notadoc 
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    Earnest refinancing bonus

    WHAT HAPPENED TO THE GUYS WHO INVESTED THEIR LIFE SAVINGS IN CRYPTOCURRENCY?

    The short answer is, they became a valuable lesson for the rest of us to never, ever do this

     

    Obviously a big difference between knowingly speculating vs being stupid.

    https://melmagazine.com/en-us/story/what-happened-to-the-guys-who-invested-their-life-savings-in-cryptocurrency

    #244724 Reply
    Avatar Tim 
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    Joined: 09/18/2018
    #244728 Reply

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