Bitcoin is still early

[Tim]

“anyone with conviction is buying. Same as we were buying at 69k or whatever it was. And 59k and 49k and 29k lol. Just like I was and still am buying VTI and VXUS.”
Keep buying VTI and VXUS.
For me, the volatility is too much and for the general public. Basically, it is a zero sum game not suitable for public consumption. BTC hit $19,000 up to $22,200 and down to $19,800.
Fun as a spectator, not as a participant for me.
jacoavlu , this seems to be a sport you enjoy playing. At some point, the game will end or be passed to your heirs. Have fun. I do echo your points about you have not been promoting BTC as suitable, but more from a point of view of coaching or explaining misconceptions. You are a participant, no more and no less. Most should be spectators,

[xraygoggles]

it’s up 4% compared to when I went to bed last night. And of course equities were down today. But it doesn’t matter. All “bitcoin is __ “ analogies are pretty much meaningless. I like to say “bitcoin is just money” but even that breaks down. Nobody knows nothing.

Yes they are meaningless. I'm just pointing out the facts (up to this point), since most reading this thread are likely either complete skeptics, or completely drunk the Kool-aid.

We need more nuance & subtlety - if that's even possible in this sphere.

[NapoleanDynamite]

I think the fact that this is fun to bet on tells you a lot of what you need to know about it and why people "invest" in it.

Man...I take a little vacation and things go downhill fast!

My statement was meant in a joking fashion. Kinda . You may or may not remember I discussed a bet when BTC was at about 11K with proceeds going to charity. I'm actually not much of a betting type. Although I do love to play Texas Hold em as it is a math and psychology game in which you can be better than others with the right amount of education/practice.

[NapoleanDynamite]

Is anyone here buying Bitcoin while it’s on sale essentially? I have GBTC like 3% of my portfolio but that’s it
is it gonna be a big mistake if we miss this chance ?

I have been buying and keep buying. DCA is the way for me at this point. Just like the rest of my investments.

That being said, I have been buying much harder over the past 6 months than I did in all of 2021. The lower it goes, the more I buy.

[xraygoggles]

If you really wanted to speculate in this space, you would be buying Ether, and some of the various high beta coins, like Apecoin, Dogecoin, and Shiba Inu.

All have had 50% + returns over the past few weeks. BTC is slow and boring, doesn't rise as fast.

[NapoleanDynamite]

Ha...Elon Musk(TSLA) sold off 75% more of their Bitcoin. Glad to know I bought a bunch of Elon's Coins. I will cherish these.

[burritos]

https://www.foxsports.com.au/nfl/star-qb-lost-22m-after-putting-entire-signing-bonus-into-crypto/news-story/665c2498f743549e46db44fe60f89ec8

Star QB lost $22m after putting entire signing bonus into crypto

https://urbanmatter.com/nfl-players-taking-it-on-the-chin-during-bitcoin-crash/

Odell Beckham, Jr. is the other player on the Mt. Rushmore of NFL players who have paraded their parlay into BTC. Beckham, Jr. signed with the Rams late in the 2021 season, taking all of his $750,000 contracts in the form of Bitcoin. Beckham, Jr. may have gotten paid more from Square, Inc. just for the publicity of having a BTC transaction, and the Rams subsequent Super Bowl win reportedly earned him millions more in incentives but he’s still tied in with the Bitcoin downfall.

Time will tell if these NFL players taking payments in Bitcoin will go down as a cautionary tale. The athletes will be fine either way, let’s just hope smaller-scale investors can say the same in the upcoming months.

[jacoavlu]

https://www.foxsports.com.au/nfl/sta...db44fe60f89ec8

https://urbanmatter.com/nfl-players-taking-it-on-the-chin-during-bitcoin-crash/

Im curious if you actually read this and concluded anything meaningful from it ?

[NapoleanDynamite]

Im curious if you actually read this and concluded anything meaningful from it ?

This is some quality journalism right here:

"When the 22-year-old signed his sponsorship deal with Blockfolio in April last year, Bitcoin was valued at 77k.

He could have pulled his money out when Bitcoin was at its peak in October when it was valued at $94,000 and made a significant profit."

Guess I missed out when BTC was valued at 77K and 94K.

[Hank]

This is some quality journalism right here:

"When the 22-year-old signed his sponsorship deal with Blockfolio in April last year, Bitcoin was valued at 77k.

He could have pulled his money out when Bitcoin was at its peak in October when it was valued at $94,000 and made a significant profit."

Guess I missed out when BTC was valued at 77K and 94K.

Check the URL again. www.foxsports.com.AU. Also, $AUD.
These are Australian dollars. Because they have kangaroos and koalas on them, they are worth less than real ‘Murican dollars.

[xraygoggles]

Ha...Elon Musk(TSLA) sold off 75% more of their Bitcoin. Glad to know I bought a bunch of Elon's Coins. I will cherish these.

Elon - capitulated.
Do Kwon (Terra) - capitulated.
3AC - capitulated.
MtGox - soon to capitulate when BTC doled out.
Saylor - ?

So we will soon have 4/5 prominent BTC whales capitulate. Saylor is a maniac and will prolly not do so. After Mt Gox is done with, may be good time to go back in.

[NapoleanDynamite]

Elon - capitulated.
Do Kwon (Terra) - capitulated.
3AC - capitulated.
MtGox - soon to capitulate when BTC doled out.
Saylor - ?

So we will soon have 4/5 prominent BTC whales capitulate. Saylor is a maniac and will prolly not do so. After Mt Gox is done with, may be good time to go back in.

I agree with you that the Mt. Gox coins will have some effect on the price of BTC in dollars, and that Saylor likely won't sell unless he is forced to in some way, shape or form.

I would also add that the global macro picture still doesn't look good to me and that I think the market has a big drop in front of us (along with BTC).

However, we disagree on the timing to "go back in". Every time is a good time to go back in if your time preference is long enough. I will keep buying through more dips and more peaks. I bought at $3500. I bought at 67k (sadly I didn't get the coveted 69k). I will keep converting excess dollars into the best investment of the past 13 years. That being said, I will also keep buying stocks, real estate, and make other investments to hedge my investment into BTC.

[Tim]

I agree with you that the Mt. Gox coins will have some effect on the price of BTC in dollars, and that Saylor likely won't sell unless he is forced to in some way, shape or form.

I would also add that the global macro picture still doesn't look good to me and that I think the market has a big drop in front of us (along with BTC).

However, we disagree on the timing to "go back in". Every time is a good time to go back in if your time preference is long enough. I will keep buying through more dips and more peaks. I bought at $3500. I bought at 67k (sadly I didn't get the coveted 69k). I will keep converting excess dollars into the best investment of the past 13 years. That being said, I will also keep buying stocks, real estate, and make other investments to hedge my investment into BTC.

No offense but indefinite terms don't help.
How long is "timing" , how much is "excess" , how much is "keep buying" etc. I am not interested in your finances or risk management decisions as much as actual dollars or balances with realized and unrealized gains/losses.
No offense, the qualitative words mean nothing. Constructive suggestion.
Carry on.

[xraygoggles]

Every time is a good time to go back in if your time preference is long enough. I will keep buying through more dips and more peaks. I bought at $3500. I bought at 67k (sadly I didn't get the coveted 69k).

My time preference is not long, because it's all speculative - ur not buying VTI here, but magical 1s & 0s - huge difference.

Buy low - sell high. Repeat. Looks like you buy low & high - but never sell... kinda weird.

I will keep converting excess dollars into the best investment of the past 13 years.

By that logic, you should also be buying Dogecoin, Shiba Inu, & Ether - all of these have had much higher returns in a much shorter period of time.

[NapoleanDynamite]

No offense but indefinite terms don't help.
How long is "timing" , how much is "excess" , how much is "keep buying" etc. I am not interested in your finances or risk management decisions as much as actual dollars or balances with realized and unrealized gains/losses.
No offense, the qualitative words mean nothing. Constructive suggestion.
Carry on.

No offense taken. While I still am generating significant income, I will keep investing the majority of that income in the hope to have returns for myself, my family, or my charities of choice.

God willing, I plan to work at least another 10-13 years...so my time horizon for buying is at least that long and my time horizon for holding my investments is a lot longer.