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selling now would really be as bad or worse than buying at 20k last year. Unless you truly think it's going to zero, you may as well hold now.

honestly, I'm thinking of buying now. I only hold about $100 worth of btc, since I got into crypto after the bull run, so I'm pretty excited to be able to buy in fairly low again

Edited by Buckrock101

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On 11/24/2018 at 9:39 AM, Calvert28 said:

Yea has nothing to do with all the bad press from banks, tolitarion governments, who also try to ban it and tax the f$%k out of any person who invests in it. There's a reason governments are so resistant to it considering fads come and go all the time and this is one of the few things that has actually experienced serious backlash from world governments. 

lol

Crypto guy: "Dude we're going to make so much money getting in early. Bitcoin is such a great investment. TO THE MOON."
Your friendly neighborhood IRS: "Reminder to all Bitcoin owners that buying something and selling it at a higher price triggers capital gains tax...like literally anything else."
Crypto guy: "TOTALITARIAN GUBMENT IS WHY MY BITCOIN IS DOWN 80%!!!"

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Rams and Jrry think it’s impossible to make $ in crypto. There are soooo many people who turned 1000 into a million. Those days might be gone but it’s still a sound investment as long as you’re not going all in and have other investments as well. 

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15 minutes ago, BayRaider said:

Rams and Jrry think it’s impossible to make $ in crypto.

I don't think they've said it's impossible. Improbable, maybe. 

16 minutes ago, BayRaider said:

There are soooo many people who turned 1000 into a million.

There are so many people who make millions on YouTube videos, or hitting the lottery. Does that make either one of those a viable method to develop wealth?

The people who made their millions got in at the right time, cashed out and moved on with their fortunes. (Or they scammed people and took advantage of a non-regulated area). 

19 minutes ago, BayRaider said:

Those days might be gone but it’s still a sound investment as long as you’re not going all in and have other investments as well

The way I see it, it's like going to Vegas. If you're going to drop $500 on craps, go ahead - you might win, you might lose. Just don't bank on funding your retirement or paying off your car with no sort of backup.

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23 minutes ago, BayRaider said:

Rams and Jrry think it’s impossible to make $ in crypto. There are soooo many people who turned 1000 into a million. Those days might be gone but it’s still a sound investment as long as you’re not going all in and have other investments as well. 

I have never said it's impossible to make money by trading any currency, cryptocurrency included. My criticism, from the beginning, has been the doublespeak; on one hand, people bought this because they wanted to make a 10,000% return overnight, and on the other hand, people who held it pretended that it was the utility that was driving purchases. And that's not true. Which is why the non-bitcoin market went crazy. People wanted to get into the next 10 cent coin that was going to get them the crazy return that Bitcoin never could.

All of my posts aren't even making fun of Bitcoin or Blockchain (the last post I made that was even remotely serious was an admission that I was wrong about the security of it, since Bob Mueller's team tracked the Russian payments that bought them the e-mail servers to leak Hillary Clinton's e-mails).

The only thing my posts made fun of was the "TO THE MOON" culture.

Edited by ramssuperbowl99

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2 minutes ago, ET80 said:

I don't think they've said it's impossible. Improbable, maybe. 

There are so many people who make millions on YouTube videos, or hitting the lottery. Does that make either one of those a viable method to develop wealth?

The people who made their millions got in at the right time, cashed out and moved on with their fortunes. (Or they scammed people and took advantage of a non-regulated area). 

The way I see it, it's like going to Vegas. If you're going to drop $500 on craps, go ahead - you might win, you might lose. Just don't bank on funding your retirement or paying off your car with no sort of backup.

I wouldn't even say it's improbable in the short term. It's just a luck driven outcome like picking any individual investment, whether it's speculative like a digital coin or a security. To your point, people win in Vegas all the time. I'm not pretending that doesn't exist. But over the long term, the house wins.

And honestly, I don't think I've even criticized someone in here for owning Bitcoin. Including people in here who have said they have debt, but bought Bitcoin (or whatever other coin). 

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I 100% Bought into the TO THE MOON culture, but I haven’t sold, for the practical reasons. I still think it is the way of the future 

i definitely never used anything other than “fun money” though so I’m not feeling any pressure 

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It has nothing to do with “luck” people bought in October/November when cryptocurrency was starting to make a little noise. People found solid altcoin projects with a low marketcap, such as 10M or less and compared it to coins with marketcaps with 5B or more. What I did with Oyster for example was compared it to Siacoin. Same exact place project almost except Oyster looked much better. Siacoin was valued at 2.5B. Oyster was valued at 1M. This left room for huge gains. And after talking to the team extensively and reading their paper and reading their github I felt comfortable investing. Then Oyster went up 2,400x. Yes, 2,400x. Good luck doing that in stocks. I did the same with other cryptos as well, found low marketcap projects, got to know the team, compared it to bigger marketcap projects, etc. 

Personally I pulled everything out in January right when things started going bad and never looked back. But at these prices it looks like crypto is getting super overlooked again and that “moonshot” will happen again at some point. My guess would be End of 2020 though, not this year.

Edited by BayRaider

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Just now, BayRaider said:

It has nothing to do with “luck” people bought in October/November when cryptocurrency was starting to make a little noise. People found solid altcoin projects with a low marketcap, such as 10M or less and compared it to coins with marketcaps with 5B or more. What I did with Oyster for example was compared it to Siacoin. Same exact place project almost except Oyster looked much better. Siacoin was valued at 2.5B. Oyster was valued at 1M. This left room for huge gains. And after talking to the team extensively and reading their paper and reading theor github I felt comfortable investing. Then Oyster went up 2,400x. Yes, 2,400x. Good luck doing that in stocks. I did the same with other cryptos as well, found low marketcap projects, got to know the team, compared it to bigger marketcap projects, etc. 

Personally I pulled everything out in January right when things started going bad and never looked back. But at these prices it looks like crypto is getting super overlooked again and that “moonshot” will happen again at some point. My guess would be End of 2020 though, not this year.

Good for you making money man. You got lucky. Congrats - and I say that sincerely. Hopefully the money helps out for a down payment on a house or gets you out of debt or sets you up for retirement.

I don't really say a lot about the specifics my career here, but I work in pharma and have a fairly high level job where I get to see compounds move through the development pipeline. Even as someone with years of experience in the field, who works full time in the industry, knows the ins and outs of the process financially, and knows the mechanisms of action and pitfalls scientifically, if someone came to me with a hedge fund and asked me to recommend pharmaceutical stocks to invest in, I'd tell them absolutely not and that I'm nowhere near qualified. Not because I'm an idiot or because I'm not familiar with the industry - this is my (more than) full time job and I'm pretty good at it.

I say no because there are probably only a few people in the world who can actually do that effectively. The depth of knowledge in the specific company combined with the breadth of knowledge of the whole industry required to confidently make a recommendation that is going to be accurate more often than not is staggering. I've worked with the type of company where you could make a 20-50x return overnight if they get sold or if the right data comes in, and I can tell you with 100% that despite my experience, had I bought stock in those companies and they made a profit, that would be a luck-driven outcome.

So, again, I say congrats on the profits. But if you think because you read a few press releases and went on coinmarketcap.com or whatever that site is, that you're in any way qualified evaluate cryptocurrency or that your >1000% return wasn't luck-driven, you're delusional.

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Sure there is some luck involved, always is. There’s luck in everything you do in life. Sports, stocks, crypto, etc. But you act like it’s 1000% luck when that isn’t true. And no I’m no expert, never claimed to be, and will never claim to be. I share the exact same steps I took and tell them this is not financial advice in any way. Just hate when people act like crypto is a terrible investment tool. It should be part of any portfolio, to a low % that is. Plus there is nothing wrong throwing a few hundred bucks at something hoping you can 100x your money. 

Anyways, you’re a pharmacist?

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5 minutes ago, BayRaider said:

Sure there is some luck involved, always is. There’s luck in everything you do in life. Sports, stocks, crypto, etc. But you act like it’s 1000% luck when that isn’t true. And no I’m no expert, never claimed to be, and will never claim to be. I share the exact same steps I took and tell them this is not financial advice in any way. Just hate when people act like crypto is a terrible investment tool. It should be part of any portfolio, to a low % that is. Plus there is nothing wrong throwing a few hundred bucks at something hoping you can 100x your money. 

Anyways, you’re a pharmacist?

If you aren't an expert, and you're making returns that any expert (in any financial sector, not just crypto) would dream of, what would you call it? 

Let me phrase the question differently, if the word luck bothers you. If your returns are real or you have some innate ability to get 100x, 200x, or god knows what type of a return on money, why have you not advertised this to hedge fund managers? Better yet, why have hedge fund managers not hit your DMs up like crazy? You could make millions of dollars doing this professionally with other people's money if any of your past returns were even a little bit predictive, even like 1% predictive. And yet you don't, and I'm guessing you haven't been approached.

There's nothing wrong with being lucky. It happens to somebody, and it happened to you. You may as well enjoy it.

And no, I'm not a pharmacist. I work in pharmaceutical development (clinical and pre-clinical drug trials). I hate people way too much for primary care. ¯\_(ツ)_/¯

Edited by ramssuperbowl99

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3 hours ago, ramssuperbowl99 said:

lol

Crypto guy: "Dude we're going to make so much money getting in early. Bitcoin is such a great investment. TO THE MOON."
Your friendly neighborhood IRS: "Reminder to all Bitcoin owners that buying something and selling it at a higher price triggers capital gains tax...like literally anything else."
Crypto guy: "TOTALITARIAN GUBMENT IS WHY MY BITCOIN IS DOWN 80%!!!"

not to mention totalitarian governments were the principal users of cryptocurrencies to sell drugs and money launder

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I'm angry for not parlaying the Cavs and Suns winning on the same night a couple of nights ago. If I only bet $200, I'd have made a cool $17,500 in a few hours. Also, that wouldn't have been lucky.

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43 minutes ago, MWil23 said:

I'm angry for not parlaying the Cavs and Suns winning on the same night a couple of nights ago. If I only bet $200, I'd have made a cool $17,500 in a few hours. Also, that wouldn't have been lucky.

Theres no way. Were they both like +2000?

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11 minutes ago, BayRaider said:

Theres no way. Were they both like +2000?

100% serious 

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