Ugh, Bitcoin. All I know is that I purchased one at 14k USD in Nov of last year all hyped up. Reached 19K USD by mid Dec of last year and I was stubborn. Didn't sell even though I should have. Currently trading at 3.5K 🙁
I just am not smart enough for the cryptos.
14k down to 3.5k in a year! 😲 Fakk my old boots! 😲
Following a previous divorce settlement, I put a bit of money into my daughter's South East, UK, house purchase 5 years ago. It's gone up in value and I'm not expecting it to come down any time soon. My daughter already lives in the investment, so if I 'pop my clogs' there is nothing to change hands. The added bonus is that my grandchildren play, eat and sleep in this investment every night.😉
There is no 'smart' -- it was all luck. The luckiest ones bought when they were <$100. There is no real logic to crypto prices, which eliminates someone who is smart from doing any better then someone who is dumb.
Yeah, you are right. I know it was close to 4K and when it reached 8K within a few days, everyone was buzzing. By the time I decided it was up to 14K. I usually never put my hand on things I don't know much about and this was the one thing I did which was iffy. I just got caught up in the hype. I guess that is what I meant.
It's so common that it has a name. Never mind ... you just sit back and look at that amazing view out your window.
Just to be clear. I use bitcoin as a means of wealth transmission. Not as a store of wealth.
Also I consider all “investors” in crypto a hinderance to mainstream adoption by confusing the public. Crypto is not an investment. It is a utility. It’s a means of transaction where others either are slow or inefficient or even non existent.
For the moment, I keep wealth in fiat (or watches) and send wealth where easier by crypto. For the moment I get in or out the moment before or after the transmission.
Crypto is not an investment. It is a utility.
Just to be clear. I use bitcoin as a means of wealth transmission. Not as a store of wealth.
Also I consider all “investors” in crypto a hinderance to mainstream adoption by confusing the public. Crypto is not an investment. It is a utility. It’s a means of transaction where others either are slow or inefficient or even non existent.
For the moment, I keep wealth in fiat (or watches) and send wealth where easier by crypto. For the moment I get in or out the moment before or after the transmission.
Ugh, Bitcoin. All I know is that I purchased one at 14k USD in Nov of last year all hyped up. Reached 19K USD by mid Dec of last year and I was stubborn. Didn't sell even though I should have. Currently trading at 3.5K 🙁
That is why I never venture outside of my comfort zone i-e conservative mutual funds. I just am not smart enough for the cryptos. I will hold onto mine for now - in it for the long term I guess. My mind won't let me take a $11k loss, lol.
As for the OP's query, I probably won't. Not for any other reason but just because I want to sit and wait and hope it goes back up.
I finally bought last year at $9K several months after my 18-year-old suggested I buy at $2K.
Thought I (and my kid) was a genius when it went to $20K, and expected it to just keep on going for a while.
I'm going down with the ship. No way am I selling now. If I lose it all so be it. But I'm staying in the game to give myself a chance. And we all know, if I were to sell at a big loss, it would skyrocket again. We all know that, right? 😉
I finally bought last year at $9K several months after my 18-year-old suggested I buy at $2K.
Thought I (and my kid) was a genius when it went to $20K, and expected it to just keep on going for a while.
I'm going down with the ship. No way am I selling now. If I lose it all so be it. But I'm staying in the game to give myself a chance. And we all know, if I were to sell at a big loss, it would skyrocket again. We all know that, right? 😉
By all conventional definitions, cryptos are quite clearly investments, at least as a trader. Many people make a living trading regular old currencies, and they do the same with cryptos. Volatility is a trader's best friend, and cryptos provide plenty of that.
Blockchain is going to be a very big part of our future, but BTC was never going to be the vehicle to take the mainstream there. It was just the biggest, most popular crypto during the period when average joes heard about them. Sure, there were plenty of silly talking heads during the crypto mania last year, but lots of money was made by many people, including me. I didn't sell at the top, but I sold close enough ($15k). I bought a dozen watches, paid off some debt, and took a trip with the profits. It has been, without a doubt, the fastest and most profitable investment I have ever made, and I've been investing for more than 30 years.
