Bitcoin is still early

[NapoleanDynamite]

What is your current net worth, inclusive of home equity? Just curious..

This is not important to the Bitcoin discussion...in fact it would be even more important if I had a low net worth....but because people like to peep or want some point of reference for credibility...4.4 M

[Kamban]

This is not important to the Bitcoin discussion...in fact it would be even more important if I had a low net worth....but because people like to peep or want some point of reference for credibility...4.4 M

One important thing is people should not get out of their comfort zone in investing. Let us agree for argument sake that Bitcoin and other crypto might go up exponentially in the future like a Tesla or Amazon stock. But it still does not make it an ideal buy for the majority of the people who frequent the board here.

You have a NW of 4.4M and can afford to put in 500K and even if that drops to zero, you still have 3.9M. But the person here whose NW is 500-800K cannot afford to put in 100K+ in a speculative stock. I have a NW above yours and have many alternative investments and I also can ride out its volatility and high risk of major losses in some of them. But I would never dream of touting those to any of the members here since it is not suitable for their investing strategy.

[pierre]

This is not important to the Bitcoin discussion...in fact it would be even more important if I had a low net worth....but because people like to peep or want some point of reference for credibility...4.4 M

And how much is bitcoin?

[pierre]

Eat your food, Tina! I wonder if anyone here will get the reference?

I think an uncle rico reference is more fitting.

[Lordosis]

Screw bitcoin put your money in Kodak. A few months ago it shot up 40X. It has to do that again sometime... Right???

[Kamban]

Screw bitcoin put your money in Kodak. A few months ago it shot up 40X. It has to do that again sometime... Right???

Ugghhhh. It brings back bad memories. Kodak was one of my worst stock buys. Traditional company, was among the first in digital camera technology and then dropped the ball. My stock value dropped to zero. Had to take a passive los hit on that.

[Lordosis]

Ugghhhh. It brings back bad memories. Kodak was one of my worst stock buys. Traditional company, was among the first in digital camera technology and then dropped the ball. My stock value dropped to zero. Had to take a passive los hit on that.

Sorry to make you relive that. I just remember seeing the news and a good example of the unexpected.

[DrSam]

Eat your food, Tina! I wonder if anyone here will get the reference?

Quit eating all our steak!

[CordMcNally]

Ugghhhh. It brings back bad memories. Kodak was one of my worst stock buys. Traditional company, was among the first in digital camera technology and then dropped the ball. My stock value dropped to zero. Had to take a passive los hit on that.

If it makes you feel better, at least their CEO recently had a 'lucky break' go his way.

[xraygoggles]

Just checked the old Bitcoin thread, closed... bummer. Would be nice to have one long crypto thread to discuss, critique, argue the merits of cryptocurrency.

By pure luck of timing, I bought small amounts of Ethereum, Bitcoin, Ripple, Litecoin, and Binance coin in early-mid 2017. I did end up selling some of them during the crazy bubble later that year, but still hold on to mid-5 figures worth of crypto. I don't intend on selling any of them, unless there is another large bubble (btc > 20k).

It's more of a very speculative/lottery type of bet, and don't really anticipate any significant long term gains. However, I feel like there is also a non-zero chance that another bubble will ensue at some point, to take profits.

I also have small amount of equity in Ripple Labs, Inc., which owns Ripple cryptocurrency. Ripple seems to be the one that banks like since it's more centralized (which kinda defeats the purpose of crypto). But then again, I'm not buying these because of some fantastical, libertarian, decentralized-currency ideology. My only goal is to make money, and to sell it when there is a bubble to someone who does have the aforementioned mindset.

[childay]

Why is bitcoin and tesla the only thing anyone on forum posts about speculating with? We need Crixus / gold back

[Nysoz]

I speculated the downfall of Nikola and it’s been kinda fun watching that dumpster fire lol.

[Shant]

As someone who bought a bit of bitcoin with my fun money years ago and still has some, can confirm that bitcoin belongs in the same investment category as lottery tickets: consumption. Originally it had speculative potential as a possible payment processing methods but that potential's gone too leaving it all speculation, no potential.

[Brains428]

Central banks are looking at creating stable coins. Crypto will have it's place, and BTC will probably be the winner. I believe it will become more apart of the norm in our financial system. The question is... when?

[HikingDO]

I think an uncle rico reference is more fitting.

How much you wanna make a bet I can throw a football over them mountains?