Bitcoins/Litecoins/Virtual Currencies

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Rajaah

Rajaah

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Grabbit Allworth said:
I haven't read a single page of this thread, but I plan to depending on the response I get to my question --

I have 250k in liquid assets (that's not my entire portfolio, just what I can move around easily) and I'm finally ready to make the leap in to BitCoin....am I retarded?

I'm not completely un-informed about coin. In fact, I've done a ton of research or I wouldn't be considering making a 250k wager, but there are A LOT of different opinions regarding coin and I appreciate the kind of candid responses I'd get here.

*edit*

I realized I needed to frame my question a little better. My goal with BC is a long hold strategy (10+ years).
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There are better things than BTC to invest in long-term. Lots of people have made the comparison already, but the trendsetter isn't usually the one that takes things to new heights. Myspace got supplanted by Facebook, Yahoo got surpassed by Google, Atari paved the way for Nintendo to blow it away.

There are exceptions, like sports leagues, wrestling, products completely identified with their genre (people calling all bandages "bandaids"). However, there's plenty of argument to be made (and has been made here) that Bitcoin is just the trendsetter for other cryptos (that can do more) to be more successful long-term.
 
Rajaah

Rajaah

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Tmac said:
Since you said "we're literally checking boxes" I assumed you'd save me the trouble of having to research and compile a list, lol.
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We are checking boxes, can confirm. Venezuela's transformation from 2009 to 2020 is an insanely stark contrast, and looking at their decisionmaking along the years will pull up numerous parallels to the US. Right now we're comparable to Venezuela midway down their path to ruin, while continuing to make the same mistakes they did.

If you want to get really dark, look into the nine stages of genocide as they've played out in numerous cultures over the past century, and you'll find we've checked off about five of the nine boxes here in the last 2 years alone. Everything up to "forced relocations as reparations" IIRC. That next step isn't outside of the realm of possibility.
 
Rajaah

Rajaah

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Arden said:
I don't know wtf you guys are talking about. BTC is one of the best performing assets you can possibly buy if you are long.

It's up roughly 275% in the last year and it's up almost 5000% in the last 5 years. ETH is up more than 800% in the last year and 16,000%(!) in the last 5 years.

The only way you don't make tons of money off this stuff is if you are a paper-handed bitch.
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Unless it's peaked. Not saying it has and I don't remotely think it has, but it's possible. There's a chance, even if it's small, that skeptics are going to be proven right. And unfortunately ETH probably won't be making those kinds of parabolic moves again. Getting in early with all of this stuff was the way to go, and if you didn't, nothing is necessarily guaranteed.

2 cp from a guy with tons of crypto and no plans to abandon it.
 
Arden

Arden

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Rajaah said:
Unless it's peaked. Not saying it has and I don't remotely think it has, but it's possible. There's a chance, even if it's small, that skeptics are going to be proven right. And unfortunately ETH probably won't be making those kinds of parabolic moves again. Getting in early with all of this stuff was the way to go, and if you didn't, nothing is necessarily guaranteed.

2 cp from a guy with tons of crypto and no plans to abandon it.
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Yeah, I mean every investment is a risk and nothing is guaranteed. The conversation we were having had to do with how profitable of an asset Bitcoin had been as a long-term investment to this point. And the answer is extremely profitable. Who knows what might happen in the future?

That said, cryptocurrency as a whole has seen more widespread adoption than ever recently, especially this year. The fundamentals are stronger than they have ever been, and it's far safer to invest in something like Bitcoin or Ethereum now that it was even a year ago.
 
Vepil

Vepil

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I bought $35 in bitcoin 7 years ago to pay for a football subscription online. I ended up with ~$0.30 left on coinbase and it's worth $48.38 as of right now. If I had only bought more sigh. If ETH does anything like bitcoin we are all going to be kicking ourselves we didn't buy more.
 
James

James

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Good video again, but a little deeper explanation of L2 summer here:

 
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Locnar

Locnar

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Rajaah said:
There are exceptions, like sports leagues, wrestling, products completely identified with their genre (people calling all bandages "bandaids"). However, there's plenty of argument to be made (and has been made here) that Bitcoin is just the trendsetter for other cryptos (that can do more) to be more successful long-term.
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Or like Jello~

but seriously, all these shit coins are getting ridiculous. I'm getting more and more nervous about my ETHE plays.
 
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
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Locnar said:
Or like Jello~

but seriously, all these shit coins are getting ridiculous. I'm getting more and more nervous about my ETHE plays.
Click to expand...

GIF by CBS
 
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swayze22

swayze22

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Like I said a while back, the more and more shitcoins that "legitimate" people try to pawn as worthwhile the worse it is for the entire scene. Not saying CUMROCKET and DIAHRHEA COIN can't make you money in a short time frame (lol), but it doesn't bode well for the eyeballs that have been attracted to the space or the general feeling people & regulators have about crypto. Again, don't think it will affect the "real" coins (which I feel like there are maybe 10 or so, mostly BTC & ETH), but definitely causes some unneeded and unnecessary waves.
 
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James

James

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If you play it right, going full degen on meme coins is some of the best money in the crypto space right now. Seems barely better than day trading to me, so I don't do it.
 
swayze22

swayze22

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James said:
If you play it right, going full degen on meme coins is some of the best money in the crypto space right now. Seems barely better than day trading to me, so I don't do it.
Click to expand...
Never go full retard
 
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James

James

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Yeah, I've never traded penny stocks either but this is definitely penny stocks on crack. Check out the volume and TVL on that sumbitch, too, there are so many gains to be had with these shitcoins it's unreal.
 
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