Jump to content

Recommended Posts

Just now, MWil23 said:

100% serious 

I don’t think it would of been nearly that much.. I will look at the odds later.

Share this post


Link to post
Share on other sites
On 11/26/2018 at 8:00 AM, 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%!!!"

Yea because when has a government ever been oppressive. 

gxjqenzpr27z.png

Edited by Calvert28

Share this post


Link to post
Share on other sites
On 11/26/2018 at 9:54 AM, 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?

It really depends on what you want. I don't want it as part of my portfolio because it's highly volatile. Some people are fine with risk/reward investing. I'm looking for stability and consistency.

On 11/26/2018 at 8:31 AM, 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. 

On the contrary, I think it's quite possible to make money in crypto. However, what I warned people back in the day was that it was a speculative bubble and somebody was going to get left holding the bag in the end. The problem with the crypto market is that people were treating it like a security when the value wasn't tethered to anything. The market blew up because people saw others getting rich and wanted to get in on it. Plenty of people made money, but the reality of that situation is that the party was going to end at some point. That meant that people who didn't get out at the right time were going to lose big.

I preached caution to people. I thought it was a bad investment because the market price was significantly inflated and there was a risk the bottom could fall out at any time. People weren't investing because they thought the underlying product was useful. They were investing because they believed somebody would buy their stake for more.

Also, I think our definitions of "sound investment" are quite different. It feels like you're telling people it's a sound investment while simultaneously admitting it's not. To steal from an earlier analogy, betting $500 on a craps game isn't a sound investment. But as long as you're not going all in and have other investments, why not? That's basically what you're doing with cryptos. You're making a bet on something that is extremely volatile. It's not really a "sound investment." But people are willing to make unsound investments if the potential payoff is big enough. As we know, the potential payoff with cryptos is large enough for a lot of people.

Share this post


Link to post
Share on other sites

I don't think that proves crypto is trash. All it proves is we're still in the Wild West. What's undeniable trash is in 2019 I can't send more than $2000 to someone in a day using Zelle.

Edited by Mossburg

Share this post


Link to post
Share on other sites

I'm not into conspiracy theories but sometimes there is evidence and situations that should be considered. I am in no way suggesting this is true but a Redditor put this together:

 

Share this post


Link to post
Share on other sites
8 hours ago, ramssuperbowl99 said:

$5 that "dead" dude is on an island with Biggie and Tupac right now.

I wouldn't doubt it. The whole situation is sketchy. I read that the public key on his LiteCoin wallet shows its still making transactions.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now



×