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  • Bitcoin down 50%+ so I just decided to come by and gloat a bit.

    Just kidding. I just wanted to let you know we recorded a podcast interview with Jeff Ross this morning. It'll be out in a few weeks. You'll like it.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

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    • Originally posted by billy View Post

      I'm loving the stock market sales, because I'm an index investor. I'm also throwing whatever money I can into the market right now. If I were an individual stock investor, I'm not sure I'd be feeling the same. Easy for one company to fail, near impossible for all the companies to fail without new ones rising up, and if that happens we'd have to be in really really deep doo-doo.

      So are the bitcoiners who were saying it can only go up actually buying more and more now that it fell? If you believe in bitcoin reaching/exceeding the same peaks, you should be. If youre not, then maybe you dont believe in it as much as you thought you did, or youre acknowledging that the last year's price was an aberration. (thats a generic you, not aimed at anyone in particular btw).
      Yes. Buying Hard right now. I will keep buying all the way down to 10K. It has almost zero percent chance of going below 10K. It's very unlikely to get below 20K. See you in 5 years.

      Comment


      • Originally posted by The White Coat Investor View Post
        Bitcoin down 50%+ so I just decided to come by and gloat a bit.

        Just kidding. I just wanted to let you know we recorded a podcast interview with Jeff Ross this morning. It'll be out in a few weeks. You'll like it.
        Good to hear you and Jeff finally got together and made something happen. Jeff knows his stuff on BTC.

        And down is dependent on your point of view. My BTC position is still up over 200% in 2 years. Although seeing huge unrealized gains wiped away from it in 6 months is always interesting. FWIW my index portfolio has also taken a huge hit the past couple of months. The Fed giveth...the Fed Taketh away. Ready to deploy all cash reserves whenever the Fed "pivots" again.

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        • Originally posted by NapoleanDynamite View Post

          Yes. Buying Hard right now. I will keep buying all the way down to 10K. It has almost zero percent chance of going below 10K. It's very unlikely to get below 20K. See you in 5 years.
          Based on? Preferably based on something that doesn't have to do with previous performance and cycles.

          Comment


          • Originally posted by CordMcNally View Post

            Based on? Preferably based on something that doesn't have to do with previous performance and cycles.
            Based on 2 main factors....but multiple others.

            1. Most important: Long Term HODLers (coins that haven't moved in >2 years) own the vast majority of the coins below 17k. They are the most unlikely to sell during the bear markets. Historically, they also buy the heck out of the bottoms. So they gobble up the coins that are available in these crisis.

            2. The biggest prior BTC crashes have been approx 85% off of all time highs. Yes this is based on prior cycles. Sorry, but this metric has held up quite well with every BTC crash. That number is about $10,500. Very unlikely to go below that.

            Of course a global depression (if the Fed and central banks take us there) could take us in to new territory.
            Last edited by NapoleanDynamite; 05-10-2022, 03:42 PM.

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            • Originally posted by CordMcNally View Post

              Based on? Preferably based on something that doesn't have to do with previous performance and cycles.
              are you buying more cardano?

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              • Originally posted by jacoavlu View Post

                are you buying more cardano?
                OMG...I just vomited a little in my mouth reading this.

                Comment


                • Originally posted by jacoavlu View Post

                  are you buying more cardano?
                  Lol - Cardano (& every other alt/shitcoin) will go down likely 80-99%. The only coins which will survive will be BTC & ETH - albeit at a 70-80% haircut from ATH. Maybe Monero too since it seems to have use case as the best privacy coin.

                  Comment


                  • Originally posted by jacoavlu View Post

                    are you buying more cardano?
                    Nope. I haven't bought anything in close to 9 month or so and doubt I will any time in the near future.

                    Comment


                    • Originally posted by The White Coat Investor View Post
                      Bitcoin down 50%+ so I just decided to come by and gloat a bit.

                      Just kidding. I just wanted to let you know we recorded a podcast interview with Jeff Ross this morning. It'll be out in a few weeks. You'll like it.
                      I just bought some more Bitcoin this week! Half off is great!

                      Part of me wishes I could convince myself to go all in on Bitcoin as a resident, but I know being prudent means diversifying.

                      So I still stick with majority index funds. WCI would be proud.

                      Comment


                      • Originally posted by CordMcNally View Post

                        Nope. I haven't bought anything in close to 9 month or so and doubt I will any time in the near future.
                        you still holding a majority cardano position? I can’t recall but weren’t you like 80/20 ada/btc?

                        Comment


                        • Originally posted by xraygoggles View Post

                          Lol - Cardano (& every other alt/shitcoin) will go down likely 80-99%. The only coins which will survive will be BTC & ETH - albeit at a 70-80% haircut from ATH. Maybe Monero too since it seems to have use case as the best privacy coin.
                          There will be plenty survive. They’re basically securities. So all the VC bros and Goldman Sachs legacy money behind a lot of the stuff will prop them up and ride it out.

                          Comment


                          • Originally posted by jacoavlu View Post

                            you still holding a majority cardano position? I can’t recall but weren’t you like 80/20 ada/btc?
                            No, it was never a majority ADA position. The ratio is reversed, it's more like 80/20 BTC/ADA.

                            Comment


                            • Originally posted by NapoleanDynamite View Post

                              Based on 2 main factors....but multiple others.

                              1. Most important: Long Term HODLers (coins that haven't moved in >2 years) own the vast majority of the coins below 17k. They are the most unlikely to sell during the bear markets. Historically, they also buy the heck out of the bottoms. So they gobble up the coins that are available in these crisis.

                              2. The biggest prior BTC crashes have been approx 85% off of all time highs. Yes this is based on prior cycles. Sorry, but this metric has held up quite well with every BTC crash. That number is about $10,500. Very unlikely to go below that.

                              Of course a global depression (if the Fed and central banks take us there) could take us in to new territory.
                              I think the bigger question isn't if it falls 85% but if it remains stagnant. You're a true believer, however I've learned over the years that anything is possible. It could go down to $3000 again, you just don't know and it wouldn't surprise me.

                              Comment


                              • Originally posted by fatlittlepig View Post

                                I think the bigger question isn't if it falls 85% but if it remains stagnant. You're a true believer, however I've learned over the years that anything is possible. It could go down to $3000 again, you just don't know and it wouldn't surprise me.
                                still buying bitcoin on robinhood?

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